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Earthquake shakes Dutch province of Groningen By Reuters

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AMSTERDAM (Reuters) – An earthquake with a magnitude of 3.1 jolted the northern Dutch province of Groningen in the early hours of Saturday, the Royal Netherlands Meteorological Institute said.

The epicenter of the quake was in Werdum, 145 km northeast of Amsterdam. There were no reports of injuries.

Previous production tremors in Groningen caused billions of euros in damage to buildings that were not built to withstand, significantly curtailing production in the region in the late 2010s.

Once it becomes a major supplier of natural gas to Europe, Groningen’s production will be capped at 2.8 billion cubic meters per year beginning October 1, roughly 7% of annual domestic consumption in the Netherlands.

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Prime Minister Mark Rutte is due to testify on Thursday before a parliamentary committee investigating problems surrounding the Groningen gas exploitation, including failures to repair damaged buildings and compensate victims.

Although the Dutch are under pressure to change course after Russia’s invasion of Ukraine triggered an energy crisis, the Rutte government has repeatedly said production can only be increased as a last resort if households run out of gas supplies.

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Elon Musk of Tesla congratulates Big Rival Ford

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Elon Musk and Tesla changed the way consumers think and look.

They have pushed the entire auto industry to switch to electric vehicles and make the technology the future of the sector, which is crucial to the economy.

Today, nearly every automaker—vintage automakers, start-ups, luxury brands, sports car manufacturers—offers an electric or hybrid model. Groups are investing billions of dollars to develop electric vehicles.

Consumers are also following developments, since their demand for these green vehicles is rising sharply even as cars remain expensive and the number of charging stations continues to lag. Charging still takes a long time, and electric vehicle owners have to plan their trips according to the geography of charging stations, which is a particular problem.

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Financials and Materials Drive TSX Higher By Reuters

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© Reuters. FILE PHOTO: Screen showing the price of a major Canadian stock index, the S&P/TSX Composite Index of the Toronto Stock Exchange, as it rose to a record high in Toronto, Ontario, Canada on January 7, 2021. REUTERS/Chris Helgren

(Reuters) – The main Canadian stock index rose on Thursday, supported by financial stocks and commodity-related commodities, while Canadian manufacturing data for November rose from the previous month.

At 09:33 AM ET (1433 GMT), the S&P/TSX Composite Index of the Toronto Stock Exchange rose 104.98 points, or 0.51%, at 20,558.24, approaching a six-month high.

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The Fed’s measure of inflation slowed in October, supporting the dovish Powell

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The Federal ReserveUS preferred scale inflation Data released on Thursday slowed back October, adding more support to President Jerome Powell’s signal of a near-term interest rate hike after his closely watched speech yesterday in Washington.

The essence of September PCE The price index is up 5% from a year ago, down from the 5.1% pace recorded in September and basically in line with Street expectations of 5%. The Bureau of Economic Analysis reported that the core index rose 0.2% in the month, a significant drop from September that fell within analysts’ expectations.



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