ECONOMIC OUTLOOK – The President of the UEL, the Union of Luxembourg Enterprises, Michel Reckinger, has painted a bleak picture of the country’s economic outlook. Speaking on last night’s television news, he warned that growth has all but ground to a halt, profits are drying up, and unemployment is on the rise. He called the situation exceptional, and is pushing for a Tripartite summit before things get any worse. The Iran war, he said, is sending energy prices through the roof, with knock-on effects expected for steel, plastic, and eventually food. He also warned that businesses will have to pass some of those costs on to consumers.
FUEL PRICES – There is more pain on the forecourts today, Diesel has risen by 5.2 cents, to 2.057 euros per litre, while heating oil has increased by 5.3 cents, to 1.517 euros per litre.
DRUG HAUL– Nearly 88kg of cocaine has been discovered at Luxembourg Airport’s cargo centre in a haul that represents a substantial quantity of drugs believed to have been destined for distribution networks in Europe and with an estimated value of around €4.4 million.
TRUMP ADDRESS – Donald Trump is set to address the American people tonight at 9pm Washington time (that’s 3am for us) with what the White House is calling an important speech on the Iran conflict. Earlier today, the President suggested he expects US operations in Iran to wrap up within two to three weeks, adding that a deal with Tehran is neither necessary nor relevant.
IRAN WAR – Israel has carried out further heavy air strikes in Lebanon, with large explosions reported around Beirut, including in residential areas. The Lebanese health ministry says at least seven people have been killed. Israel claims to have eliminated another senior Hezbollah commander. Separately, Israeli strikes in Iran reportedly hit sites believed to have been producing chemical weapons. This claim cannot currently be independently verified. Iran, meanwhile, launched fresh drone attacks today targeting Gulf states hosting American military bases. A fuel depot at Kuwait International Airport is said to have been struck.
The Iran war and high oil prices are having growing consequences for tourism and especially aviation. Kerosene prices have already doubled, and airlines are warning that surcharges are on the way. Lufthansa is reportedly considering grounding dozens of aircraft, particularly on short-haul routes in a bid to cut costs. Larger carriers with long-term fuel contracts may be somewhat cushioned for now, but passengers should expect higher fares before long.
JAPAN EARTHQUAKE – A powerful earthquake struck Tokyo in the early hours of this morning, measuring 5.0 on the Richter scale. The epicentre was 50 kilometres underground, beneath land, so no tsunami warning was issued. Tremors were widely felt across the capital, though no serious damage has been reported.
FRANCE SOCIAL MEDIA BAN – The French Senate has backed a bill to ban under-15s from social media. The legislation now goes to a joint committee to define which platforms will be targeted, as a ban on some but not others could violate EU competition rules. President Macron wants the law in place by the end of the summer.
MOON MISSION – Four astronauts are set to embark on the first crewed mission to the Moon in over 50 years later today. NASA’s Artemis 2 is scheduled to lift off from Florida at 6.24pm(22.24 gmt). Americans Reid Wiseman, Victor Glover and Christina Koch, joined by Canadian Jeremy Hansen, will loop around the Moon without landing over a roughly 10-day mission. It marks the first lunar flight to include a person of colour, a woman, and a non-American.
FOOTBALL – Luxembourg’s national football side will remain in League C of the UEFA Nations League after a convincing 3-0 win over Malta last night at a packed Stade de Luxembourg. Goals from Sebastien Thill, Danel Sinani and Tomas Moreira sealed a 5-0 victory on aggregate. Their Nations League campaign resumes in the autumn, with away trips to Bulgaria and Estonia and a home match against Iceland.
At the World Cup play-offs, the final four European spots for this summer’s tournament have now been filled. Italy have missed out for a third consecutive World Cup. The Czech Republic, Sweden and Turkey are through, Turkey returning to a World Cup for the first time in 24 years.
A classic Luxembourg morning - patchy clouds giving way to sunshine as the day rolls on. Starting off at 3°–6°C, with a pleasant climb up to 12°C this afternoon. A light northeasterly breeze, gusting up to 30km/h. Tonight goes crystal clear and cold with a hard frost, dropping as low as -4°C. Tomorrow looks similar, but warmer temperatures are on the horizon by the weekend.
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