Monday Briefing: Panic buying leaves up to 90% of fuel pumps dry in major British cities

The Reuters Daily Briefing Monday, September 27, 2021 by Linda Noakes Hello Here's what you need to know. A narrow win for Germany's Social Democrats, a moment of truth for the U.S. Congress on government funding, and a car-exhaust drug craze alarms Congo's capital Today's biggest stories A BP petrol station that has ran out of fuel is seen in London, Britain, September 26, 2021. REUTERS/Paul Childs BUSINESS Up to 90% of British fuel stations ran dry across major English cities after panic buying deepened a supply chain crisis triggered by a shortage of truckers that retailers are warning could batter the world's fifth-largest economy. Widening power shortages in China have halted production at numerous factories including many supplying Apple and Tesla, while some shops in the northeast operated by candlelight and malls shut earlier as the economic toll of the squeeze mounted. We explain what's behind China's power crunch. European stock market listings have come back with a bang after the summer lull but blank-check firms are nowhere to be seen. So far this quarter, 42 initial public offerings in Europe have raised $8.5 billion, the highest amount for a decade, but there hasn't been special purpose acquisition company deal since July, according to Refinitiv data. Early in the pandemic, there were encouraging and surprising signs about the decline of credit card debt. Now, that trendline seems to be changing. Speed has always been paramount for supercar makers, and now they're in the race of their lives to go electric before climate policy cuts their combustion engines. Social Democratic Party leader Olaf Scholz, Mecklenburg-Western Pomerania state Prime Minister Manuela Schwesig and SPD member Franziska Giffey wave at their party leadership meeting, one day after the German general elections, in Berlin, September 27, 2021. REUTERS/Wolfgang Rattay WORLD Germany's Social Democrats said they would start the process of trying to forge a three-way alliance and lead a government for the first time since 2005 after they narrowly won Sunday's national election. A 'traffic light' coalition of the SPD, Greens and FDP is seen as the most likely outcome. A strong earthquake measuring 5.8 shook Greece's largest island Crete and one person was killed when a church dome collapsed. Eruption and tremors around the Cumbre Vieja volcano on Spain's La Palma slowed to a near halt, while authorities locked down coastal villages in anticipation of the lava reaching the sea. China will reduce the number of abortions performed for "non-medical purposes", the country's cabinet announced in new guidelines. China has already enacted strict measures aimed at preventing sex-selective abortions, which have been criticized for contributing to gender inequality. A new craze for a drug derived from crushed vehicle exhaust filters is rattling authorities in the Democratic Republic of Congo's capital Kinshasa, triggering a campaign to stamp out the concoction and a related rash of car part thefts. U.S. The U.S. Congress faces a showdown today over government spending and debt, opening a week that could also include action on President Joe Biden's sweeping social agenda if Democrats can resolve internal divisions about the package. We explain the options for funding the government and raising the debt limit. Texas Governor Greg Abbott defended his state's upcoming audit of 2020 presidential election results in four counties, action taken after former President Donald Trump demanded probes of the vote last week. New York Governor Kathy Hochul is considering employing the National Guard and out-of-state medical workers to fill hospital staffing shortages with tens of thousands of workers possibly losing their jobs for not meeting a deadline for mandated COVID-19 vaccination. Up to 4,000 migrants, most of them Haitians, have passed through the treacherous jungles of the Darien Gap in Panama on the Colombian border as they make their way north to the United States, two Panamanian government sources said. Quote of the day "This kind of behavior harbors evil intentions and damages peace and stability in the Taiwan Strait" The People's Liberation Army's Eastern Theatre Command China condemns Britain for Taiwan Strait warship mission Video of the day 'Moulin Rouge!' and 'Inheritance' win top Tony Awards The four-hour ceremony promoted the return of live theater and called for better opportunities for Black writers and performers And finally… U.S. wins Ryder Cup and opens door to new era Youthful energy trumped experience as the European old guard failed to deliver against the American young guns. More from Reuters COVID-19 Reuters Investigates Legal news The Great Reboot Thanks for spending part of your day with us. Share your thoughts You are receiving this email because you signed up for newsletters from Reuters. No longer want to hear from us? Unsubscribe from The Reuters Daily Briefing. Terms, conditions, and privacy statement © 2021 Thomson Reuters. 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