White House Copper Tariff Plan Stalls Due to Concerns About Affordability, Sources Say
Two people with knowledge of the situation say that the White House hasn't yet decided on tariffs for refined copper. Officials are weighing the benefits of encouraging more domestic mining against concerns about higher prices. The administration has been focusing on affordability in the run-up to November's midterms. President Donald Trump and Republican legislators are under pressure to show that their economic policies lower costs, rather than raise them, for American businesses and consumers.
Beware of financial wildfires in a global heatwave: Mike Dolan
The world economy has not been cooled by two wars or sky-high oil prices. Asset managers are forced to stay invested despite the hot global growth in the second half of this year. Higher interest rates could be the only remaining policy brake. Since the Iran War - which pushed crude oil prices 50% higher, and natural gas doubled - there has been a nervous waiting to see the ripple effects on the global economy. As the third quarter comes to an end…
French and Benelux stocks - Factors to watch on Friday, July 31
Here are some company news and stories that could have an impact on markets in France and Benelux or individual stocks. Credit Agricole, a French bank, posted better-than expected second-quarter earnings?Friday. This was due to growth in its retail, asset-management and investment banking businesses. The net income attributable shareholders increased 1.4% on a yearly basis to EUR2.05billion ($2.36billion), excluding an one-off gain recorded a year ago. This was higher than the EUR1.9billion analyst consensus.
Wall Street closes mixed as investors pay attention to tech earnings
Wall Street closed Monday with a?mixed bag, as investors awaited guidance for major technology companies during a busy quarter of quarterly earnings, and also worried that persistently high oil prices might force the Federal Reserve to raise interest rates. Microsoft, Amazon Meta, and Apple will report their quarterly results in the coming week. Investors questioned whether the multi-year rally fuelled by optimism over artificial intelligence was losing steam.
Investors focus on tech earnings as S&P and Nasdaq drop
Wall Street fell on Monday as investors feared that "stubbornly" high oil prices would force the Federal Reserve into raising interest rates. They also awaited guidance for a busy week of quarterly earnings from major technology companies. Microsoft, Amazon Meta, and Apple will?report?quarterly results this week. Investors questioned whether the multi-year rally fuelled by optimism over artificial intelligence was losing steam. Last week…
Chinese tech companies, from Apple suppliers, to OpenAI competitors, raise $27.34 billion in Hong Kong
Chinese tech firms, from chipmakers to AI startups, are flocking to Hong Kong’s booming capital market. They have raised a total of HK$214.39billion ($27.34billion) in this?year for expansions in AI, semiconductors, and advanced manufacturing. CATL, the world's biggest electric vehicle battery manufacturer, launched a share sale of approximately HK$39.2 Billion ($5.00 Billion) in April. This was less than a month after its blockbuster IPO?Hong Kong.
Chinese tech companies, from Apple suppliers, to OpenAI competitors, raise $20 billion dollars in Hong Kong
Chinese tech firms, from chipmakers to AI startups, are flocking to Hong Kong’s booming capital market. They have raised a total of HK$159.34bn ($20.33bn) in this year's fundraising to expand their AI, semiconductors, and advanced manufacturing. The following are a few of the major companies who have listed or sold shares recently in the city. CATL, the world's biggest electric vehicle battery manufacturer, launched a HK$39.2 Billion ($5.00 Billion) share?sale on April 5, less than a month after its blockbuster Hong Kong listing.
Chinese tech companies, from Apple suppliers, to OpenAI competitors, raise $17 Billion in Hong Kong
Chinese tech firms, from robotaxi developers and AI startups to chipmakers, are flocking to Hong Kong’s booming capital market. They have raised a total of HK$136.23billion ($17.38billion) this year, to fund expansion in artificial intelligence, semiconductors, and advanced manufacturing. In April, the world's biggest electric vehicle battery manufacturer launched a share sale of approximately HK$39.2billion ($5.00billion) less than a?year after its blockbuster Hong Kong IPO. CATL's customers include Tesla, BMW and Volkswagen.
Pembina approves Alberta energy project linked to major data centre development
Pembina Pipeline announced on Thursday that it would'move forward with its planned C$4.6 Billion ($3.24 Billion) Greenlight Electricity Centre in Alberta. The project will 'power the development of a major data centre for an unnamed client. The Calgary-based company, Calgary Pipeline Company, announced that it had made a final investment decision in the Greenlight Project. This project is a natural gas-fired 932-megawatt power-generation plant to be located in Sturgeon County.
Mercuria, a commodities trader, forms joint venture with Eni, an Italian major
The Swiss commodities 'trading house Mercuria' and the Italian oil and gas -major Eni - have agreed to form a joint venture. Mercuria announced that the 50:50 joint-venture will be run from its headquarters in Geneva. It will trade crude oil and refined fuels as well as biofuels and gas. Mercuria's strategy to seek partnerships that increase market access and integrate with physical markets led it to link the venture with Eni. Stefano Pujatti…
Dajin Heavy, a Chinese wind equipment manufacturer, makes its Hong Kong debut
After a share sale of up to HK$6.64billion ($847.57 mln), Dajin Heavy Industry, a Chinese wind-power equipment manufacturer, fell 11.1% on its 'Hong Kong debut Friday. *?The'stock opened flat at HK$66.4, before slipping down to HK$59.05. Last traded at HK$61.4 down 7.5%. * Dajin has sold 86.97 millions shares?at HK$66.40 per share in a global offer. It exercised its option to increase the size of the offering by 15% or 13.04 millions shares, adding approximately?HK$866,000,000.
Nordic investors ask EU to maintain its stance on Arctic drilling ban amid energy crises
Investors and financial institutions have urged the European Union to maintain its opposition to any new Arctic oil & gas drilling as it considers re-evaluating its position to prioritize energy security. Investors are concerned that the U.S./Israeli war against Iran, which triggered the current energy crisis, could be used as a justification to roll back climate commitments. Nordea Asset Management (part of Nordic lender Nordea) and 11…
WhiteHawk Minerals, a natural gas royalty company, is aiming for a $701 million valuation at its US IPO
WhiteHawk?is aiming for a valuation up to $701.2 mln?in the U.S. Initial Public Offering, as it aims to tap into?investors appetite for domestic energy assets. It said that the company based in Philadelphia, Pennsylvania, is looking to raise up to $187m by selling approximately 6.9 million shares at a price between $25 and $27 each. As the Middle East conflict continues to drive up crude prices, many energy companies and those with an interest in the energy sector have listed 'plans to take advantage of the opportunity.
Japan's Nikkei soars above 62,000 due to earnings and Middle East optimism. JGBs rally
The Nikkei share index in Japan reached a new record high on Thursday, and Japan's bonds also rose as the financial markets reopened following the holidays. This was due to optimism about'strong' technology earnings and signs of a possible peace agreement in the Middle East. The benchmark Nikkei Index rose by 4.19%, to 62.009.59. It has now broken through the 62,000 barrier for the first ever. The Topix index rose 2.12% to 3,807.84. After a three-day break in trading…
Commonwealth LNG signs 20-year supply agreement with Mercuria in response to US LNG export growth
Commonwealth LNG announced on Tuesday that it had signed a sale-and-purchase agreement for 20 years to supply Mercuria 1 million metric tonnes of liquefied gas per year. The deal stipulates that Mercuria would provide Commonwealth with the equivalent amount of natural gas (estimated at 133 millions cubic feet per day) and Commonwealth will convert it to LNG, which Mercuria can then purchase. Commonwealth, a company owned by energy asset management firm Kimmeridge and majority-owned by Commonwealth…
Steve Cohen's Point72 has hired a Castleton veteran trader to help with commodities, according to sources
Three sources told us that Steve Cohen's hedge fund Point72 Asset Management hired Ryan Sheffler to be its natural gas portfolio manager in order to expand the commodities trading desk. Point72 is one of the few large hedge funds that has not yet built a commodities business. It has been pushing into this space in recent weeks. Citadel, Millennium and other investment firms have made huge profits due to the extreme volatility of commodity prices. This has been caused by geopolitical turmoil since Russia invaded Ukraine in 2022.
The 2025 profits of energy trader Danske Commodities are cut in half due to lower volatility
Danske Commodities, a Danish energy trader, reported on Thursday that its profit would be lower than expected by 52% in '2025. They cited low 'volatility' and structurally challenged gas market. Danske Commodities (owned by Norwegian oil producer Equinor) reported a full-year adjusted profit before tax of 88 millions euros ($103.88million), down from the 186 million euro?in 2024. The company's guidance for pre-tax earnings was between 100 and 200 millions euros.
Warren Buffett is no longer with us. Berkshire has now become Greg Abel’s show.
Berkshire Hathaway's annual shareholders weekend in Omaha, Nebraska will be familiar to many Berkshire Hathaway investors. Shopping discounts The 5K race. Tens of thousands like-minded investors and Berkshire supporters. This is the largest corporate shareholder meeting in America. Warren Buffett is going to be there. For the first time since 1960, it won't be him in the spotlight. This weekend marks the first time since the Oracle of Omaha handed over Berkshire's CEO reigns to Greg Abel. Abel will lead the annual meeting on Saturday.
TSX rises more than 1% after US-Iran truce calms down investors
Canada's main index of stocks soared on Wednesday as?mining shares led broad-based gains? after a U.S. - Iran ceasefire boosted investor sentiment. By 10 a.m. The S&P/TSX composite index was up 1.57 % at 33,757.56 ET. The U.S.-Iran ceasefire of two weeks has ended a six week conflict that had impacted energy supplies and raised inflation concerns. According to a senior Iranian official who was involved in the talks, Tehran could open the…
Sources say that Balyasny has hired Glencore's LPG head Hendey to push commodities.
Three'sources' familiar with the matter said that Chicago-based hedge funds Balyasny Asset Management and Balyasny Asset Management have hired Ross Hendy from commodities traders and miner Glencore where he was in charge of liquefied petroleum gas trading. Hendey will begin his new role in Balyasny, where he will lead an independent investment group focused on LPG products and refined products in September. A second source confirmed that he will remain based in London. Sources requested anonymity in order to discuss confidential information.