USA: Court orders Chevron to pay compensation for environmental damageA court in the USA has ordered Chevron $CVX (-8,09%) to pay damages after the company was held responsible for serious environmental damage. An investigation by the non-governmental organization Lowlander Center found that Chevron had dug channels to reach oil and gas rigs in the Gulf of Mexico. These interventions have severely impaired the natural flow of water in the surrounding wetlands. During extreme weather events, the ocean's water masses could now flow unhindered inland instead of being dispersed in the wetlands, which could have disastrous consequences for the local flora and fauna. A law dating back to 1978 obliges companies to dismantle and recultivate used areas after the end of operations. However, Chevron failed to obtain the necessary permits and remove the legacies, resulting in significant contamination from improperly stored wastewater that was released unchecked into the environment.
Thyssenkrupp terminates supply contract with supplier HKMThyssenkrupp $TKA (-15,03%) has terminated the supply contract with the supplier HKM, causing uncertainty among the affected employees. However, the company emphasizes that the supply of primary material to its shareholders remains secured until further notice. Despite the dismissal, there are currently no immediate effects on the continued operation of HKM. In the morning, around 1000 employees of HKM and other Duisburg steel companies protested in front of Thyssenkrupp's headquarters. IG Metall expressed serious concerns about possible job losses and an imminent closure of the plant, further increasing employees' worries about their future. The situation remains tense and all eyes are on the upcoming decisions that could have a significant impact on the future of the steel industry in Duisburg.
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