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Northern Italy region hit by torrential rain, cancels F1 race

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Italy’s Civil Protection Minister said some areas had received half their annual rainfall in just 36 hours

 
Several people died and thousands were evacuated from their homes as torrential rain battered Italy’s northern Emilia-Romagna region, triggering widespread floods.

The coastguard rescued residents in Faenza from their roofs.

Italy’s Civil Protection Minister said some areas had received half their annual rainfall in just 36 hours, causing rivers to burst their banks, sending water cascading through towns and submerging thousands of acres of farmland.

The torrential rains followed months of drought which dried out the land, reducing its capacity to absorb water and worsening the impact of the floods, meteorologists said.

The vice president of Emilia-Romagna said the rains were starting to ease later on Wednesday but that river levels were still rising.

This weekend’s Formula One race in Imola, which is close to many of the worst-hit areas, was called off after the government said the emergency services had to concentrate on the rescue operation.

Muddy waters flowed through the streets of Faenza, forcing locals to flee to the top stories of their homes. Many were rescued by firefighters in dinghies.

Road and rail links were blocked in numerous locations and the mayors of many towns and cities, including Bologna, urged residents not to leave their homes.

It was the second time this month that Emilia-Romagna has been battered by bad weather, with at least two people dying during storms at the beginning of May.

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Oil prices hit five-year low amid oversupply fears

U.S. oil prices hit nearly five-year low amid oversupply and economic slowdown fears, benefiting consumers but alarming producers

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U.S. oil prices hit nearly five-year low amid oversupply and economic slowdown fears, benefiting consumers but alarming producers

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In Short:
– U.S. oil prices are at their lowest in nearly five years, with futures at $56.99 per barrel.
– Consumers benefit from falling fuel prices, with gasoline averaging $3.057 per gallon, about 15 cents lower than last year.
A growing surplus of crude oil is driving U.S. oil prices to their lowest levels in nearly five years.
U.S. oil futures closed at $56.99 per barrel, reflecting a 2.2% drop on the day and a 19% decline compared to a year ago. This marks the lowest price since February 2021 and comes amid fears of a global economic slowdown.The decline benefits consumers, likely leading to lower prices for gasoline and other fuel types.

Retail prices for regular unleaded gasoline averaged $3.057 per gallon, about 15 cents lower than last year. In several states, prices have fallen below $3 a gallon, with the Energy Information Administration projecting a national average of $2.90 next year.

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U.S. oil producers are facing challenges with narrowing profit margins and job losses, despite record production levels surpassing 13.6 million barrels a day. The Organization of the Petroleum Exporting Countries (OPEC) is adjusting its production levels, anticipating a rise in demand next year while aiming to regain market share from U.S. and other producers.

Future Expectations

Chinese stockpiling has temporarily masked the oversupply, with imports up 3.9% in September.

However, rising tensions in the trade war between the U.S. and China are raising concerns about weakened global oil demand amid slowing economic growth.


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Nine unveils 2026 Upfronts with revenue growth strategies

Nine’s Upfronts spotlighted programming strategy, the Milano Olympics, and $4B revenue loss from under-investment in long-form video.

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Nine’s Upfronts spotlighted programming strategy, the Milano Olympics, and $4B revenue loss from under-investment in long-form video.


Nine held its Upfronts presentation today, showcasing its programming strategy for the year ahead.

The event took place at Carriageworks in Sydney, with the Milano Winter Olympics highlighted as key content among other offerings.

Nine’s new research identifies $4 billion in potential revenue loss due to under-investment in long-form video from brands. It positions Total TV as an essential engine for business growth, urging marketers to recognise its full impact.

#nine #media #broadcast #tv #realitytv #tickernews


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NATO weighs Ukraine missile boost

Europe to increase military aid to Ukraine; Tomahawk missile support undecided before Trump-Zelensky talks, says Hegseth.

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Europe to increase military aid to Ukraine; Tomahawk missile support undecided before Trump-Zelensky talks, says Hegseth.


Defence Secretary Pete Hegseth confirms Europe will ramp up military aid to Ukraine as NATO ministers meet in Brussels, though Tomahawk missile support remains undecided ahead of Trump–Zelensky talks.

#Ukraine #NATO #Trump #Zelensky #Russia #Defence #Missiles #Hegseth #Europe #WorldNews


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