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Olympic Freestyle Skiing - Anthony and Laffont qualify for the moguls finals; Kauf qualifies in second place
The final of the Olympic freestyle ski'moguls' was held on Tuesday. Perrine Laffont, the 2018 winner from France and Australia’s Jakara Anthony, the defending Olympic champion made it to the final. 2022 silver medallist Jaelin kauf had to compete in the second qualification round. Anthony, who had been sidelined for most of the season due to a collarbone fracture, combined technique, speed, and turns in order to win first place. She described her performance as "clean and pretty tidy". Laffont placed fourth after combining amazing jumps and rhythm around the moguls, which are closely spaced mounds. She displayed fine control on the short, steep slope overlooking the valley in high-altitude Livigno under soft snowfall. The Frenchwoman said that her run could be improved. She added that she wanted to improve in the finals. Her fans chanted loudly while holding posters with the face of the French skier and the initial 'P" in the three colors of the French flag. U.S. Freestyle Skiers Elizabeth Lemley, and Olivia Giaccio took second and third places respectively. They were both less than a point apart from Jakara’s highest score of 81.65. Teammate Kauf, who is known for her speed and agility, came in 27th place after losing control of the skis after the first jump. She said, "I will have to?put in a run-through tomorrow." "Obviously, today I tried that and it didn't work out. But I will try to?focus on skiing the best runs I can." After losing her fall line (the straightest way down the bumpy mogul piste), Sweden's Elis Lundholm 23, one of the 30 transgender athletes at the Milano Cortina Games finished second last. The top 10 skiers in each category will advance to the finals, which will be held on Wednesday. Ikuma Hoishima, a Japanese skier, was the leader in the men's qualifying. Mikael Kingbury, the most decorated mogul skiing athlete in history and three-time Olympic medalist from Canada, was third. Walter Wallberg of Sweden, the defending champion and a three-time Olympic medallist came sixth. (Reporting and editing by Ken Ferris in Livigno, with Giulia Segriti reporting from Livigno)
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Colombian economy expected to grow by 3% in last quarter of 2025
A poll released on Tuesday showed that Colombia's economy is likely to grow strongly in the 4th quarter of 2025, compared with the same period one year earlier. This growth will be driven by robust domestic consumption and public spending. According to 12 analysts' median estimates, Colombia's gross domestic product (GDP), likely grew 3% on an annual basis in October-December, compared with 2.3% for the same quarter in 2024, and 3.6% for the third quarter last year. Predictions ranged between 2.5% and 3.2%. The median estimate for the fourth-quarter is consistent with the forecast of the central bank. Bancolombia stated that the growth was fueled by "high household consumption" aided by "higher disposable incomes", lower savings rates, increased remittances, and a favorable exchange rate. Bancolombia said, "On the?public spending?side?, we expect significant growth, driven by higher consumption of the government in a context with high operating expenses, budgetary rigidity and high fiscal deficits, as well as extraordinary expenses related to the 2026 electoral cycle." The national statistics agency DANE is set to publish GDP data for Latin America’s fourth largest economy on?February 16th. According to analysts' median estimates, Colombia's economy is likely to grow 2.9% throughout 2025. This is well above the 1.6% growth recorded in 2024, and in line with forecasts from the central bank. Analysts' predictions for 2026 remained unchanged at 2.8%, slightly higher than the central bank forecast of 2.6%. In the survey conducted in 2016, they had lowered their growth forecasts for 2027 to 2.8% from 2.9%, but still significantly higher than the 1.6% central bank's estimate. The central bank of Colombia began a tightening cycle last month with a 100-basis point increase in its benchmark rate. It now stands at 10.25%. This was done as inflationary pressures grew after the near-23% hike to the minimum wage. (Reporting and editing by Andrea Ricci; Nelson Bocanegra)
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N5X wants approval to establish Brazil's first energy-trading market
N5X CEO Dri Barbosa said that the company has applied to Brazil's central banks and securities regulator CVM in order to become "the country's very first exchange for trading energy futures". She said that the initiative has been in development since '2023,' and is backed by major energy generators. It could be launched within 12-24 months. N5X is a joint-venture between B3 Brazilian Exchange Operator and Nodal Exchange (part of the European Energy Exchange in Germany) that already operates a platform to facilitate physical power contracts. According to N5X, Brazil is the sixth largest?energy consumer in the world. The company registered with CVM for the purpose of offering energy futures and with the central banks to establish a clearing entity. The company plans to start operations after receiving?both approvals. A formal exchange could reshape Brazil’s power trading landscape. The current system is dominated by informal and fragmented transactions that are often carried out via messaging apps or phone calls. Participants who are looking for more security often rely on platforms that handle physical contracts and low-liquidity derivatives. The project has been launched at a crucial time for Brazil's energy trading market. Hundreds of millions of dollars are traded in bilateral deals, without the involvement of a central counterparty. This exposes companies to increased credit risk. Barbosa predicted that Brazil would eventually achieve liquidity levels similar to Germany. N5X expects annual futures trades to exceed 1,000 TWh, which is Brazil's consumption in the first years. Project has received 'public support' from major power generators such as Axia, Casa dos Ventos, and Eneva, who are seeking a better hedging tool and more predictable revenue. Energy traders are concerned that a futures market could restrict participation because of margin requirements. Barbosa, however, argues that guarantees are necessary to reduce systemic risks.
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Diamond market is struggling, so Botswana will boost its mining exploration
Bogolo Kenewendo, the Mines Minister, said that Botswana intends to increase mining exploration in order to diversify its economy beyond diamonds. Long regarded as an African success, the country in Southern Africa has been hard hit by the prolonged decline of the global diamond industry, driven by the economic uncertainty and growing popularity for lab-grown stones. About one third of Botswana’s revenue is generated by diamonds. Debswana Diamond Company is Botswana’s joint venture with De Beers, which accounts for 90% of country’s diamond sales. The company has no plans to boost production amid a sluggish economy. Debswana CEO Andrew Motsomi stated that it was not a good idea to burn cash and store up (diamonds). According to data from the finance ministry, Botswana's stockpile was 12 million carats by the end of December. This is nearly twice the government-allowed inventory of 6.5 millions carats. U.S. Kenewendo stated that while diamonds would?remain as the backbone of mining, the government is pushing forward with its plans to expand the mineral base including critical minerals. She said that a newly formed state-owned exploration firm would be focused on increasing exploration levels. We were more interested in diamonds and less interested in other valuable minerals. Kenewendo said on the sidelines of a mining conference for Africans in Cape Town that "we're now going to change this". If you have only explored 30% your country, this shows that we are very focused on diamonds. Investors are a bit hesitant to invest in exploration. She added that you can lose a great deal of money if you explore and don't find anything. We want to make sure that we are armed with the correct data and that we know where everything is so we can decide if we would like to invest in that area. Botswana has emerged as a copper-mining hotspot and is one of the top diamond producers in the world. The U.S., and China are competing for copper and cobalt, two critical minerals used in advanced manufacturing. Kenewendo stated that the U.S. expressed an interest in exploring and mining with Botswana, but talks were still at a very early stage. She said, "We'll see what happens." "We are just investing in general in the mineral sector." (Reporting by Olivia Kumwenda-Mtambo. Mark Potter (Editing)
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DuPont expects strong sales and profits in 2026 due to healthcare gains and restructuring
DuPont, a maker of industrial materials, forecast net sales for the full year and an?adjusted?profit that was above analyst expectations. The company beat fourth-quarter earnings estimates Tuesday thanks to stronger sales in its healthcare segment and ongoing business restructuring. The shares of the company rose by 2.3% during morning trading. DuPont has simplified operations due to higher production costs in Europe. Tighter environmental regulations have also pushed global chemical makers to re-evaluate their strategies. The board of directors approved the previously announced plans for last year. Separation Qnity Electronics is the company's?electronics division, which includes semiconductor technology and interconnect solutions. DuPont’s Healthcare?and Water Technologies segment saw net sales rise 4% in the third quarter to $821 millions, driven by growth of medical devices and packaging, as well as strength on industrial water markets. This offset a 3% decline?in the diversified industrials sales segment?to $872 millions, as weakness in the construction, packaging and printing markets weighed down on results. On a call after earnings, executives said that the order trends for its industrial technology business indicated stabilization of markets that were struggling last year. The company said it doesn't expect any significant headwinds by 2026, and that productivity initiatives are resulting in an increase in gross margins year-on-year. LSEG data shows that the Wilmington, Delaware based company anticipates an adjusted profit of between $2.25 to $2.30 per stock in 2026. This compares to analysts' average estimates of $2.17. The midpoint of the forecasted net sales in 2026 is higher than analysts' expectations, which was $7.06 billion. Morningstar analyst Seth Goldstein said that DuPont's growth forecast for 2026 is largely driven by the healthcare and water markets. The company's adjusted profit per share was 46 cents for the three-month period ended December 31. This beat the analysts' forecast of 43 cents. (Reporting from Pooja Menon, Bengaluru. Editing by Tasim Zaid)
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BlackRock's rejection of the Texas law that blacklists 'woke' BlackRock may challenge anti-ESG legislation in other states
Analysts said that the decision by a Texas judge to strike down a'state law' blacklisting 'woke' financial firms such as BlackRock and HSBC who used environmental, governance, or social factors to make investment decisions, will likely lead to a broader movement to repeal alleged "anti-ESG laws" in other states. Texas lawmakers passed the Energy Discrimination Elimination Act 2021. This law requires state agencies and local governments to divest their shares from companies that refuse to invest in certain oil and gas companies. Around 14 other states have followed suit. Last week, a federal judge in Texas ruled that the law violated First Amendment protections for free speech because it penalized businesses who spoke about fossil fuels and associated with groups that oppose fossil fossil fuels. Texas announced that it would appeal. Lance Dial, an attorney at K&L Gates, said that Texas had "lost on its own court." You would think that Texas is the place where they can make this work. ROADMAP FOR CHALLENGES Bryan McGannon is the managing director of the U.S. Sustainable Investment Forum said that the ruling?provides a roadmap" for challenging similar laws passed by Oklahoma, Kentucky West Virginia Tennessee Utah and Utah as well as any other policies targeting environmental, social, or corporate governance activities. The ruling challenges the flawed premise that climate change or ESG concerns must be motivated by political or social purposes, and ignores "ordinary business purpose". This opens up a new way to challenge many anti-ESG legislations. Anti-ESG?actions have taken many forms. They include laws that target diversity efforts, and lawsuits. One from Texas and others accuses investors of breaking antitrust laws in assessing corporate climate. Pleiades Strategy's data on anti-ESG legislation shows that there are 26 laws in various stages of development across the United States, including Alaska, Georgia Michigan, Minnesota, and Nebraska. Since the firm began tracking bills in 2022 391 have been killed before becoming law. WILDFIRES AND FLOODS Insurer Munich Re stated in January that damages from natural disasters like floods and fires, which scientists believe are increasing in intensity and frequency due to climate change, will total $224 billion by 2025. Los Angeles was the most expensive wildfire catastrophe to date, with losses totaling $53 billion. Of this amount, only 40 billion dollars were insured. Some of the biggest companies in the world have cited the transition to a low carbon economy as the main driver for their results. For example, patchy incentives, and the consumer demand for more environmentally friendly products. Stellantis became the latest automaker to write off the value of its EV investments last week, taking a $27 billion hit that sent its shares down by 30%. Ben Cushing said that laws such as the Texas law were designed to "politically penalize" investors. Cushing, despite the "chilling effect" of the laws, said that the Texas ruling would instead give investors the confidence that managing climate related risks is consistent with their fiduciary duties. Frances Sawyer of Pleiades Strategy agreed, saying: "It's yet another court decision protecting freedom to invest." This should send a clear message that anti-ESG legislation is overreaching. (Reporting from Simon Jessop, London, and Ross Kerber, Boston. Dawn Kopecki, Nick Zieminski and Dawn Kopecki edited the story.
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German steelmaker Salzgitter expects modest growth in sales by 2026
German steelmaker Salzgitter announced on 'Tuesday that it expects only a modest change in the 'economic environment' in 2026. It forecasts an increase in sales of around 500 million euros ($595 millions) per year. The report said that the German government's investment plans had not yet stimulated economic recovery. However, it expects the "European Union trade defense measures" to have a positive impact on the results. Group expects to sell around 9.5 billion euro in 2026 after reporting preliminary sales of 9billion euros last year. This was slightly below analyst expectations of 9.11billion euros, according to a poll conducted by the company. Salzgitter stated that the guidance does not include any effects from a possible continuation Huettenwerke Krupp Mannesmann - a joint venture between Germany's Thyssenkrupp, and France's Vallourec - which Salzgitter plans to buy out of its partners. The preliminary 2025 earnings of the group before interest, tax, depreciation and amortization was 376 millions euros. This is significantly lower than the 445 million euro figure from the previous year, but above the 334million euros analysts expected. The preliminary loss before taxes was 28 million euros compared to a loss 296 millions euros in 2024. Analysts had forecasted an average loss of 72 million euros. Salzgitter reported that the results compared favorably with its 2025 guidance, thanks?to a 180 million euro contribution from Aurubis, a copper and precious metals company in which Salzgitter has a 25,5% stake.
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Mines minister: Botswana will expand exploration beyond diamonds
Mines Minister Bogolo Kenewendo said on Tuesday that Botswana will increase its mining exploration to include critical minerals. The country is looking to diversify away from diamonds and survey the 70% of its territory which remains unexplored. Long regarded as an African success, the country in Southern Africa has been hard hit by the prolonged decline of the global diamond industry, driven by the economic uncertainty and growing popularity for lab-grown gemstones. About one-third of Botswana’s revenue is generated by diamonds, and about three-quarters comes from its foreign exchange earnings. U.S. Kenewendo stated that while diamonds would be the "backbone" of the mining industry, the government is pushing forward with plans to "widen the mineral basis, including critical minerals." She said that a newly formed state-owned exploration firm would be focused on increasing?exploration standards. "We did more exploration to find diamonds than other high-value mineral. Kenewendo said on the sidelines a mining conference for Africa in Cape Town that "we're now going to change this." If you have only explored 30% your country, this shows that we are very focused on diamonds. Investors are hesitant to invest in exploration. She added that you can lose a lot of cash by exploring but not finding anything. We want to make sure that we are armed with the correct data and that we know where to look so that we decide whether we want to invest in that area. Botswana has the highest value of diamonds in the world and is a hotspot for copper mining. As the two largest economies in the world, China and the U.S., compete to get their hands on resources such as copper and cobalt, interest in critical minerals has grown. Kenewendo said the U.S. expressed interest in exploring and mining with Botswana, but that discussions were still at an early phase. She said, "We'll see what happens." "We are just investing in general in the mineral sector." (Reporting by Olivia Kumwenda-Mtambo. Mark Potter (Editing)
Macron and Lula launch submarines built in Brazil using French tech
On Wednesday, the presidents of France & Brazil launched a sub built in Brazil with French technology as part of a program aimed at building Brazil's nuclear-powered submarine before the end of this decade.
The third diesel-powered sub built by a $10 billion partnership was launched at a ceremony held in the Itaguai Shipyard near Rio de Janeiro.
The first lady of Brazil, Janja da Silva, smashed a bottle of champagne on the bow the submarine Tonelero. Both presidents then activated the lever that sent the Scorpene class vessel into the ocean.
The submarine program was started in 2008, during Lula’s previous presidency. It is a partnership between France’s state-run Naval Group, in which Thales holds a 35% stake.
Brazilian officials said that their submarine fleet was needed to protect the nearly 7,500 km (4,700 miles) of coastline as well as the Atlantic waters where Brazil is developing offshore oil fields.
Macron is in Brazil for a three-day trip to try to restart the bilateral relationship as well as the strategic partnership, which had stalled under the former government of Jairbolsonaro. The French president was critical of Bolsonaro's failure to protect the Amazon rainforest.
Macron landed in Belem on Tuesday, the Amazonian city where Brazil will host United Nations COP30 Climate negotiations in 2025. Lula met him in Belem and the two pledged to work with each other to stop deforestation of the Amazon by 2030.
Macron will meet with businessmen in Sao Paulo on Wednesday evening and then make an official visit to Brasilia, on Thursday. (Reporting and editing by Brad Haynes, Bill Berkrot and Anthony Boadle)
(source: Reuters)