Manufactures

Biden bans sales of outdated incandescent bulbs

The Biden administration announced new energy efficiency rules Tuesday. They involve phasing out outdated light bulbs, which will reduce electricity consumption and reduce greenhouse gas emissions from the nation's energy sector.

The Department of Energy rules, which repeal Trump administration policies, ban the sale of light bulbs that produce less than 45 lumens per watt. Standards for other types of bulbs are also being raised.

The department says the new standards will save consumers $3 billion a year in utility costs. The rules could also prevent 222 million tons of carbon emissions over the next 30 years.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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