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, 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.
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.
Analysts say that 'deep pockets' may help Abu Dhabi gain regulatory approval for Santos' bid.
Analysts say that the Australian regulators who are concerned about gas supplies in Australia will be closely monitoring Abu Dhabi National Oil Company's bid of $18,7 billion for Santos. However, they could be won over by promises to accelerate new projects. Analysts say that Santos' shares closed Tuesday at A$7.73, a far cry from the $5.76 per share (A$8.89), which was the proposed takeover bid for Australia's 2nd largest gas producer, announced on Monday. This indicates investors believe that the deal will be rejected by regulators.
Sources say that Macquarie's $3.6 Billion S. Korean Gas firm attracts interest from KKR and other industry players, including Brookfield,
Two sources familiar with the deal said that KKR & Co., Brookfield Asset Management and Air Liquide are all potential bidders. The deal could be worth up to $3.6 Billion. Sources said Macquarie hired Goldman Sachs to handle the sale, and they expect non-binding offers this month. They declined to name them as the information was not public. Sources said that DIG Airgas, South Korea’s third largest industrial gas producer has attracted interest not only from infrastructure funds such as I Squared Capital…
Treasury yields are easing with US stocks flat or up; investors evaluate US tax bill
The 30-year U.S. Bond yields rose to their highest level in nearly 19 months, before falling on Thursday. Worries about the U.S. Fiscal Outlook and the demand for government bonds remained, while Wall Street stocks ended either flat or slightly higher. After recent losses, the U.S. Dollar has strengthened. The yields increased earlier, after the U.S. House of Representatives approved President Donald Trump's proposed tax bill with a single vote. This added to concerns about the debt burden of the country.
Brookfield plans to triple India's assets in five years, from $100 billion to $300 billion
Brookfield Asset Management is planning to triple its India investment in five years. It will bet on India's growth prospects, and the rising demand for infrastructure and clean energy. Brookfield has increased its investments in India and in the last few years has invested $12 billion into infrastructure assets such as gas pipelines, tower assets, data centres, as well as in real estate, including hotels and offices, as well as in $12 billion worth of real estate, including office space.
RWE's largest shareholder group is against more share buybacks
RWE's largest shareholder group, RWE municipal shareholders, opposes calls for further share buybacks. This includes activist investor Elliott. They say that they will drain cash for renewable investments. The Association of Municipal RWE Shareholders (VkA), who together own around 14% of the utility, has made a few rare comments in support of RWE Management amid increasing investor criticism of capital allocation. RWE, like its peers, cut investments in renewable energy projects in March due to the falling returns.
BP shareholders punish Helge Lind with low support
BP's Murray Auchincloss, CEO and Helge Lund, Chair were reelected on Thursday. However, the dramatically reduced level of support from shareholders for Lund may mean that his departure earlier than expected is possible. BP's Board was up for reelection at the annual general meeting. The group faced activist shareholder Elliott Management, as well as criticism from climate-focused shareholders who had demanded a vote against Lund. BP has worked to increase its share price…
European shares increase as Trump lowers China tariffs
After U.S. president Donald Trump exempted smartphones and computers from China's steep tariffs, a rally in technology shares helped lift European stocks on Monday. This provided markets with a breather after weeks of sharp fluctuations. STOXX 600, the pan-European index, was up 2.1% at 0824 GMT after posting its third consecutive week of losses on Friday. The global markets have been rattled by weeks of back and forth over tariffs, which has pushed the benchmark index roughly 12% below its previous record-breaking closing high.
Octopus Energy, a British company, has bought a stake in the East Anglia One windfarm
Octopus Energy, a British company, announced on Thursday that its Octopus Energy Generation division had purchased a 10% share in the East Anglia One Wind Farm, which is one of the largest operating wind farms in the world, supplying electricity to around 700,000 households a year. The unit's fourth investment in an offshore wind farm in Britain and seventh in Europe, the financial terms of the deal were not disclosed. Octopus Energy Generation has a portfolio worth around 5 billion pounds ($6.5billion) of renewable energy in Britain.
European investors warn that the clock is ticking on AI adoption
European companies who are investing heavily in generative artificial intelligence must start showing results by the end of next year or investors will lose patience. AI-exposed shares have been downdrafted with the broader equity market in recent weeks, as fears of recession rise. This has added to the pressure on the sector, which was already under strain in January when the launch low-cost Chinese AI DeepSeek sparked a tech sale. Many investors are optimistic about Gen-AI and its potential to boost profits and productivity.
Partners Group buys California energy assets worth $2.2 billion
The companies announced on Tuesday that Swiss private equity firm Partners Group would purchase an energy asset-management platform in California and certain gas-fired electricity plants from U.S. based Avenue Capital Group, for $2.2 billion. The U.S. In 2025 and 2026, the demand for electricity will increase due to data centers devoted to artificial intelligence (AI) and cryptocurrency. Meanwhile, homes and businesses will use more electricity to heat and transport. However, the surge in demand is straining the country's resources.
Investor leading climate talks with Equinor says it's time to sell out
One of the asset management companies that is co-leading the climate talks with Equinor, on behalf of over 600 investors, has said that it sold its shares because the board of the oil giant failed to align their strategy with the global goal of limiting the effects of global warming. Sarasin & Partners, a British firm, helped to lead discussions with Equinor as part of Climate Action 100+, whose members encourage the largest listed corporations in the world to reduce their emissions.
Putin's decree authorizes US hedge funds to purchase foreign-owned Russian securities
A presidential decree published on Monday showed that Russian President Vladimir Putin had given permission to a U.S.-based hedge fund to purchase securities in Russian firms from certain foreign investors and to sell them to two Russian funds. Since the beginning of the Ukraine conflict, Moscow has tightened its restrictions on the sale of foreign assets. Any transactions in the energy or finance sector require Putin's approval. Investors are looking for signs that the thaw of U.S.-Russian relations…