Mystery leaks hit Russian undersea gas lines

Tuesday, September 27, 2022

by Linda Noakes

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Here's what you need to know.

Russia issues a new nuclear warning, Hurricane Ian churns toward the Florida coast, and the pummeled pound faces a long road back

Today's biggest stories

A member of an electoral commission directs a voter in a polling station during a referendum on the joining of the self-proclaimed Donetsk People's Republic to Russia, in Donetsk, Ukraine, September 27, 2022. REUTERS/Alexander Ermochenko

RUSSIA & UKRAINE

European countries raced to investigate unexplained leaks in two Russian gas pipelines running under the Baltic Sea near Sweden and Denmark, infrastructure at the heart of an energy crisis since Russia's invasion of Ukraine. Experts and also Russia, which built the network, said the possibility of sabotage could not be ruled out.

Ukrainians who help Russian-backed referendums to annexe large swaths of the country will face treason charges and at least five years in jail, Ukraine's presidential adviser said, as voting in four regions entered its last day.

One of President Vladimir Putin's allies explicitly raised the specter of a nuclear strike on Ukraine, saying that the U.S.-led military alliance would still stay out of the conflict for fear of a nuclear apocalypse. Dmitry Medvedev, a former president, said Russia had the right to defend itself with nuclear weapons if it is pushed beyond its limits and that this is "certainly not a bluff".

Kazakhstan is struggling to accommodate tens of thousands of Russians who have fled their homeland since Moscow announced a military mobilization last week, officials say, but the Almaty government has no plans to close its border.

Putin granted Russian citizenship to former U.S. intelligence contractor Edward Snowden, nine years after he exposed the scale of secret surveillance operations by the National Security Agency.

Here's what you need to know about the Russia-Ukraine conflict right now.

Residents fill sandbags at the Al Barnes Park in Tampa, Florida, September 26, 2022. REUTERS/Shannon Stapleton

U.S.

Residents across Florida scrambled to place sandbags around their homes and stockpile emergency supplies, emptying store shelves as Hurricane Ian spun toward the state carrying high winds, torrential rains and a powerful storm surge. Here are the worst hurricanes in Florida’s history.

The Senate will take an initial vote on a stopgap spending measure today to keep federal agencies running past the end of this week, while Congress continues to negotiate bills to fund the government through the next fiscal year.

President Joe Biden's executive actions canceling some student loan debt will cost about $400 billion, about a quarter of funds owed, the Congressional Budget Office said.

The trial of Stewart Rhodes, the founder of the far-right Oath Keepers militia, and four others begins in what will be the most high-profile case so far in the Justice Department's investigation into the Janurary 6, 2021 attack on the Capitol.

Maine state Representative Reagan LaRochelle didn't spend much time discussing abortion with voters when she ran for office last year. But she said the conversation has changed after the Supreme Court eliminated a nationwide right to abortion. We look at how state legislative races carry high stakes for abortion access.

WORLD

Vietnam closed airports, announced curfews and urged thousands more people to evacuate as intensifying Typhoon Noru barreled towards the country, two days after causing at least eight deaths and widespread flooding in the Philippines.

With flowers, prayers and a 19-gun salute, Japan honored slain former Prime Minister Shinzo Abe at the first state funeral for a former premier in 55 years - a ceremony that has become as controversial as he was in life. We look at how Abe's divisive legacy lingers in Japanese policy.

Iranian riot police and security forces clashed with demonstrators in dozens of cities, state media and social media said, amid continuing protests against the death of young Iranian woman Mahsa Amini in police custody.

Qatar has called up hundreds of civilians, including diplomats summoned back from overseas, for mandatory military service operating security checkpoints at World Cup stadiums, according to a source and documents seen by Reuters.

Britain will gradually see coins, banknotes and stamps bearing the image of King Charles, while the new monarch's cypher will also appear on government buildings and red mail pillar boxes, as the country begins adapting to its first new head of state for 70 years.

Anti-Brexit protester Steve Bray holds a placard outside the entrance to the opposition Labour Party Conference in Liverpool, Britain, September 27, 2022. REUTERS/Henry Nicholls

BUSINESS & MARKETS

The British pound was higher against the dollar, a day after hitting a record low, as the Bank of England and UK Treasury attempted to soothe market concerns after the government announced a raft of unfunded tax cuts. Investors say Britain's new government has dealt such a blow to the UK's standing with markets that rebuilding confidence could take more than emergency interest rate hikes.

The Dow Jones Industrial Average, the oldest of Wall Street's three main stock indexes, dropped 1.1%, extending the decline from its January peak to more than 20%, meeting a common definition for a bear market.

After weeks of lobbying the White House on how gig workers should be treated, the rideshare, delivery and retail industries are bracing for a new rule that is likely to make it easier to classify them as employees, multiple sources say. We explain how the Biden administration could restrict independent contracting.

Under a new government, Australia is shaping up to be the next big market for offshore wind developers, attracting interest from the likes of Shell, Denmark's Orsted and Norway's Equinor. But the industry, starting from scratch Down Under, faces a slew of challenges.

Rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses.

India's Adani Group will invest more than $100 billion over the next decade, most of it in the energy transition business, its Chairman Gautam Adani said on Tuesday, as the ports-to-energy conglomerate accelerates an already aggressive expansion plan.

CRYPTOVERSE

A year is a long time in crypto. So spare a thought for the beleaguered bitcoin miner.

Read our weekly analysis of the wild world of cryptocurrencies

Quote of the day

"The first step in regaining credibility is not saying incredible things"

Larry Summers

Reversing UK confidence crash requires policy U-turn, say economists

Video of the day

Luis Figo plays in record-setting ‘zero gravity’ soccer match

The Portuguese soccer legend scored a goal in a match played at 20,230 feet.

And finally…

NASA's DART spacecraft hits target asteroid in first planetary defense test

The spacecraft successfully slammed into a distant asteroid at hypersonic speed in a test of a system designed to prevent a potential doomsday meteorite collision with Earth.

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