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Energy Monitor Blames Russia for Worsening Europe Gas Crisis

The head of the International Energy Agency blamed Russia for worsening Europe's natural gas crisis, saying Wednesday that high prices and low storage levels largely stem from the behavior of state-owned gas supplier Gazprom.

Russia could send up to a third more gas through existing pipelines, said Fatih Birol, executive director of the Paris-based 30-member organization that provides policy recommendations on affordable and sustainable energy. That would amount to some 10% of European daily consumption — about what industry officials say would be needed to avoid a severe shortage in case of colder-than-expected weather.

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Global Stocks, Wall St Up after Powell Says Rates to Rise

Global stocks and Wall Street futures advanced Wednesday after Federal Reserve chairman Jerome Powell said U.S. monetary policy would return to normal and interest rates might be raised earlier than planned.

London and Frankfurt opened higher. Shanghai, Tokyo and Sydney advanced.

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U.S. Airlines Say China is Forcing Them to Cancel Some Flights

U.S. airlines say China has blocked more than a dozen recent and future flights from entering the country, which has been tightening already-strict COVID-19 travel restrictions.

China ordered the cancellations after some passengers tested positive for COVID-19 on flights that arrived in China in late December, according to industry officials.

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Judge Says FTC's Antitrust Case against Facebook Can Proceed

A federal judge has ruled that the Federal Trade Commission's revised antitrust suit against Meta, formerly known as Facebook, can proceed, shutting down the social media company's request for a dismissal.

In a revised complaint filed last August, the FTC argues that the company pursued a "buy or bury" strategy against rivals to suppress competition.

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U.S. Shoppers Find Some Groceries Scarce due to Virus, Weather

Benjamin Whitely headed to a Safeway supermarket in Washington D.C. to grab some items for dinner. But he was disappointed to find the vegetable bins barren and a sparse selection of turkey, chicken and milk.

"Seems like I missed out on everything," Whitely, 67, said. "I'm going to have to hunt around for stuff now."

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Banks Allowed to Unlimitedly Buy USD from BDL with LBP

Central Bank Governor Riad Salameh has said that banks are now allowed to unlimitedly buy U.S. dollars from the central bank in Lebanese pounds at the price specified by the Sayrafa platform.

“In addition to the monthly quota that the banks are withdrawing in USD, the banks now have the right to buy dollar banknotes from the BDL with the LBP currency that they and their customers possess, without a ceiling,” Salameh said.

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Visiting Austrian FM Says Reforms Necessary for Lebanon to Get IMF, EU Aid

Austria's foreign minister said Wednesday that the European Union wants to help Lebanon escape its economic meltdown, but only if the country's leaders clean up Beirut's affairs.

Alexander Schallenberg told reporters after meeting his Lebanese counterpart in Beirut that Lebanon should reach a deal with the International Monetary Fund, move forward with the investigation into the August 2020 port blast and restructure the hard-hit banking sector.

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Judge Aoun Slaps Travel Ban on Riad Salameh

Mount Lebanon Attorney General Judge Ghada Aoun on Tuesday ordered General Security to impose a travel ban on Central Bank Governor Riad Salameh in connection with a lawsuit filed against him by activists.

A leaked copy of Aoun’s order says Salameh should be barred from traveling through all land, sea and air ports of entry due to “judicial requirements in light of the important clues and evidence in the preliminary investigation file, especially the lawsuit filed by the lawyers of the legal department of the People Want the Reform of the Regime group.”

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IOC Major Sponsors Mostly muted in Runup to Beijing Olympics

The Beijing Winter Olympics are fraught with potential hazards for major sponsors, who are trying to remain quiet about China's human rights record while protecting at least $1 billion they've collectively paid to the IOC.

That could reach $2 billion when new figures are expected this year. Sponsors include big household names like Coca-Cola, Procter & Gamble, Visa, Toyota, Airbnb, and Panasonic.

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In Cuba, Queueing for Hours 'Just to be Able to Eat'

Cubans are no strangers to queuing for everything from bread to toothpaste, often standing for hours under a blazing sun with no access to a toilet or drinking water, and always with the fear of leaving empty-handed.

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