X-energy raises $ 700 million for nuclear reactor expansion projects in the US
X-energy, a developer of nuclear reactors, announced on Monday that it had completed a $700m financing round led Jane Street. The funding will be used to expand the company's supply chain and its commercial pipeline. After years of stagnation the U.S. Nuclear industry is experiencing a renaissance, driven primarily by the surging demand for power from so-called Hyperscalers who operate massive cloud computing infrastructure to manage increasing AI processing. AI is boosting U.S. electricity demand for the very first time in decades.
Wall St hedge funds reduced megacaps in the third quarter
According to the most recent quarterly disclosures, Wall Street's biggest hedge funds have reduced their exposure to certain Magnificent Seven companies, such as Nvidia and Alphabet, and placed new bets on sectors like application software, ecommerce, and payments. The following are some key positions changes made by the funds. Bridgewater Associates outperformed its peers in the first nine-month period of the year, and it slashed the stakes in Nvidia to nearly two thirds…
Wall Street falls as Nvidia slides and investors worry that Fed could slow rate cuts
Wall Street finished sharply lower Thursday with Nvidia, and other AI heavyweights as investors scaled down expectations of rate cuts due inflation concerns and disagreements among central banks about the U.S. economic health. After a 43-day record shutdown, which had caused investors to worry and disrupted economic data flow, the U.S. Government reopened. In recent days, a growing number of Federal Reserve officials have expressed reluctance about further rate cuts.
Wall Street falls as investors worry about rate cuts
Wall Street fell on Thursday with Nvidia, and other AI heavyweights suffering steep losses as investors scaled down expectations of rate cuts because of inflation concerns and disagreements among central banks about the U.S. economic health. The U.S. After a 43-day record shutdown which had alarmed investors and disrupted economic data flow. Federal Reserve policymakers have in recent days shown hesitation in reducing interest rates further. This has pushed the odds on financial markets for a decrease in borrowing costs by December near parity.
Chevron Investor Day puts the spotlight on post Hess strategy
Portfolio managers will be interested to hear what CEO Mike Wirth has planned to reap the rewards of the Hess purchase and start a new growth phase when Chevron executives, top shareholders and the oil producer gather in New York City for its investor day on Wednesday. Wirth will be celebrating a win at the event after winning the arbitration to secure the $55 billion acquisition of the smaller oil company in July. Investors want to know more about the exploration plans after oil and gas reserves reach a low in 2024.
Blueleaf Energy India Plans to Receive $75 Million from UK Development Finance Body
British International Investment, the UK's Development Finance Institution, announced on Wednesday that it would invest 75 million dollars to help Blueleaf Energy expand in India, a renewable energy platform owned by Macquarie Asset Management. The funds are intended to speed up the deployment of clean energy in Asia. The investment is to be made into Blueleaf’s utility-scale projects for solar, wind and energy storage in India. It will generate more than 3.2 gigawatt hours (GWh) per year of clean energy.
Service Resumed at Berkshire Hathaway Energy Cove Point LNG Export Plant
U.S. energy firm Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland returned to service on Sunday after a planned autumn maintenance outage, according to a company notice to customers and data from financial firm LSEG.The amount of natural gas flowing to the plant, which shut around September 20, rose from about zero to 0.9 billion cubic feet per day (bcfd) on October 12, the LSEG data showed.The plant can turn around 0.8 bcfd of gas into LNG.
Brookfield invests $5 billion in Bloom Energy to support fuel cells for AI data centers
Brookfield Asset Management announced on Monday that it would invest up to five billion dollars in Bloom Energy fuel cell technology for data centers. Companies are looking to cleaner energy sources to meet the demands of artificial intelligence. Bloom Energy shares were up 31% in premarket trading at $113.72. As they spend billions on building and expanding their data centers, companies are looking to clean power sources like nuclear, renewables, and fuel cells to meet the demand for AI, Cloud Computing, and digital services.
Berkshire Hathaway Energy Cove Point in Maryland LNG export plant is back in service
According to a notice sent to customers by the company and data provided by financial firm LSEG, on October 13, U.S. energy giant Berkshire Hathaway Energy’s Cove Point liquefied gas export plant (LNG) in Maryland resumed service after a planned maintenance outage. The LSEG data revealed that the amount of natural gases flowing into the plant after it shut down around September 20 rose from zero to 0.9 billion cubic feet per day (bcfd), on October 12. The plant is capable of converting 0.8 bcfd into LNG.
Sources claim that Colonial Pipeline will cut jobs.
According to two sources with knowledge of the situation and a statement from the company, The Colonial Pipeline Company informed its employees that it plans to reduce some positions this week. In response to questions about job cuts, the company stated: "We informed our employees that a recent evaluation to ensure our organization was best aligned in order to continue meeting our business strategies and priorities safely will result in…
Investors insist that EU methane regulations be upheld despite US pressure
A letter obtained by the. Money managers such as Ninety One Group, Pictet Group Railpen, and Royal London Asset Management have urged the EU not to change its rules that require importers of oil to monitor the methane emission of their suppliers and to report it. Scientists say that methane, one of the strongest greenhouse gases, is responsible for one-third the global warming since the beginning of industrialization. Investors are worried…
Ottobock, a German manufacturer of prosthetics, expects a valuation up to $4.9 Billion in its German IPO
The German prosthetics firm Ottobock is expecting a valuation up to $4.9 Billion from its planned Initial Public Offering (IPO), it announced on Monday. The largest artificial limb manufacturer in the world announced that it would offer up to 12,35 million shares at a range of 62 to 66 euros per share. The offer period will run from Tuesday through October 7. This would put the value of the group between 4 billion and 42 billion euros ($4.7 to $4.9 billion), bringing in between 766 and 808 millions euros for the family-owned company.
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to cars, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%. By 11:55 IST they had pared their gains and were each up around 0.5%. "The next-generation GST Reforms...
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to small vehicles, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%. By 11:55 IST they had pared their gains and were each up around 0.5%. "The next-generation GST Reforms...
Investors are sceptical about China's anti price war rally
Fund manager Yang Tingwu reaped his profits quickly after a furious rally in Chinese stocks of steel and cement, spurred on by Beijing's anti-price war and excessive industrial production campaign. Yang, along with many other investors does not think China's ambitious plan of pulling producers out from a spiraling deflation will succeed. It is difficult to reduce excess capacity because "closing factories hits local tax revenue, employment and GDP", said Yang, vice general manager of Tongheng Investment.
The markets bet Beijing will take action against China's overcapacity
This month, commodity prices have risen from steel to polysilicon as Chinese investors bet that Beijing will finally address overcapacity in the second largest economy of the world. The prices of nine industrial commodities, including coal, steel and polysilicon (a building block used in solar panels), alumina, and lithium carbonate, have risen by 10 to 68% over the past month, while the share prices for steelmakers, solar panel makers, and clean energy companies outpaced those for CSI 300 Index.
Sources say that ConocoPhillips is close to selling Oklahoma assets to Stone Ridge Energy.
Three people with knowledge of the situation said on Tuesday that ConocoPhillips, a U.S. oil producer and gas company, is in advanced discussions to sell assets in Oklahoma for $1.3 billion to Stone Ridge Energy. One source said that Oklahoma City's Flywheel Energy will manage the assets for Stone Ridge Energy. Sources cautioned, however, that there is no guarantee of a deal and the talks could end without an agreement. The sources also spoke under condition of anonymity in order to discuss private discussions.
Energy, mining shares drag TSX lower
Canada's benchmark stock index dipped on Wednesday as investors assessed updates related to tariffs and important U.S. inflation statistics. The S&P/TSX Composite index fell 0.1% to 27,027.81. As part of a new agreement, U.S. president Donald Trump announced that a 19% duty would be placed on Indonesian products. This was done ahead of the August 1 deadline for tariff increases. David Eby, Premier of British Columbia, told Bloomberg News…
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, in what is the largest corporate clean energy pact ever made. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania.
Google signs $3 billion US Hydropower Deal in Largest Clean Energy Agreement
Google announced on Tuesday that it had agreed to purchase up to 3 gigawatts (or more) of hydroelectric power in the United States, forming the largest corporate clean energy pact ever for hydroelectricity. This comes as Big Tech continues its expansion of data centers, which are notoriously energy-hungry. The agreement between Google and Brookfield Asset Management includes initial power purchase agreements totaling $3 billion for electricity generated by two hydropower plants in Pennsylvania.