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US to expedite Utah uranium mining permit
The U.S. The U.S. The department announced in a press release that the environmental review of the project will be finished in only 14 days. These studies can take many years due to the environmental impact of uranium mines. The prior administration's policies of climate extremism have created an energy crisis that is alarming. "President Trump and his Administration are working quickly and strongly to resolve this crisis," stated Secretary of Interior Doug Burgum. He said that the expedited review of mining projects was exactly what we needed to ensure our energy future. The Velvet-Wood Mine Project in San Juan County, if approved, would produce uranium for both nuclear energy production and nuclear weapons, as well vanadium. Vanadium can be used to make batteries and strengthen alloys and steel. The Interior Department stated that the project will be located on the site of an old mining operation, and only result in three acres of surface disturbance. Anfield owns also the Shootaring Canyon Uranium Mill in Utah which it plans to restart. This mill would convert the uranium ore to uranium concentration that could be used for nuclear fuel. Anfield expressed its satisfaction at the announcement made by the Interior Department. It said that "These efforts will not only increase investor attention to this sector, but also boost Anfield's prospects for production as it is one of the very few companies who have a path to U.S. Uranium production in the near future," according to an email sent to. (Reporting and writing by Nichola. Valdmanis, editing by Rosalba. O'Brien. Nick Zieminski.)
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Guinea's Prime Minister announces elections for December 2025
In a Monday speech to an African business conference, the Guinean prime minister announced that elections will be held in December 2025. He was attempting to reassure investors. Guinea is ruled militarily by Mamady Doumbouya. He seized power through a coup on September 20, 2021. In 2022, he proposed a transition period of two years to elections, but did not go ahead with the vote. The junta set a December 31st 2024 deadline for the return of a civil administration, but missed it. The new date was announced by Prime Minister Amadou Bah on Monday, at the Africa CEO Forum, in Abidjan, Ivory Coast. He spoke about the Simandou iron-ore project of the West African nation. The announcement comes one month after the government announced September 21, 2025 as the date of a constitutional vote, which, according to authorities, would be the precursor to any elections and a return back to constitutional rule. The Prime Minister said that the constitutional referendum would be held on September 21, and legislative and presidential election will take place in December. "I can guarantee that Simandou’s first train will arrive prior to the elections." The junta may have presented a draft for a new constitution in July 2024, which could allow Doumbouya the opportunity to take part in the next presidential elections. The two former ruling parties of Guinea are suspended. The Union of Democratic Forces of Guinea is the other major opposition group. Maxwell Akalaare Adombila, Portia Crowe, and Alistair Bell contributed to the report.
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US to expedite Utah uranium mining permit
The U.S. The U.S. The department announced in a press release that the environmental review of the project will be finished in only 14 days. These studies can take many years due to the environmental impact of uranium mines. The prior administration's policies of climate extremism have created an energy crisis that is alarming. "President Trump and his Administration are working quickly and strongly to resolve this crisis," stated Secretary of Interior Doug Burgum. He said that the expedited review of mining projects was exactly what we needed to ensure our energy future. The Velvet-Wood Mine Project in San Juan County, if approved, would produce uranium for both nuclear energy production and nuclear weapons, as well vanadium. Vanadium can be used to strengthen steel or other alloys, and in batteries. The Interior Department stated that the project will be located on the site of an old mining operation, and only result in three acres of surface disturbance. Anfield owns the Shootaring Canyon Uranium Mill in Utah which it plans to restart. This mill would convert the uranium ore to uranium concentration that could be used for nuclear fuel. The company did respond immediately to a comment request. (Reporting and writing by Nichola Grroom; Editing by Rosalba o'Brien).
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Official: BYD's factory in Brazil will be "fully functional" by the end of 2026.
In a video posted on Monday, Augusto Vasconcelos, Bahia's state labor secretary, said that the new factory of Chinese electric car manufacturer BYD in Brazil would be "fully operational" by December 2026. Its operations had been delayed due to an investigation into possible labor abuses. He added that the factory would start manufacturing cars by the end of the year from semi-finished kitted. Vasconcelos said in a video posted on social media that a new schedule was being created so the factory would be fully operational by December 2026, with an expectation of 10,000 jobs. Vasconcelos stated that the news came as Bahia governor Jeronimo Rodriguez traveled to China, along with President Luiz inacio Lula Da Silva, to discuss plans for BYD, and the auto industry. The company did not respond immediately to a comment request. BYD is investing in Brazil, its largest market outside China. The goal of the investment is to convert a former Ford plant into a complex capable of producing 150,000 electric vehicles per year. In December, allegations of abuses on the site tarnished the project. The Chinese company has bet heavily on Brazil, including the purchase of mining rights in areas that are rich in lithium. Lithium is a mineral used for batteries commonly found in electric vehicles. According to Julio Bonfim of the Metalworkers Union of Camacari in Bahia, the plant was supposed to start making cars at the beginning this year. However, delays caused by the labor investigation and heavy rains impacted the timeline. Bonfim reported that BYD will hire only 1,000 workers to assemble vehicles using kits imported from China this year. This is far less than the 10,000 promised by the Chinese company. Bonfim, despite the delay, said that the new timeline was good news. He also predicted that hirings would increase next year as the company prepares to manufacture vehicles exclusively in the country. (Reporting and editing by Brad Haynes, Aurora Ellis and Fabio Teixeira)
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EU analyzes U.S. UK trade deal and its impact on EU, global Trade
Valdis Dombrovskis, European Economic Commissar Valdis Dombrovskis stated on Monday that the European Commission will be analysing the implications of the United States-Britain trade agreement struck last week for the European Union's 27 member nations and for global trade. Last Thursday, the United States and Britain announced an agreement to lower tariffs for some goods. The United States will reduce its levies against cars and steel and both sides will gain better access to agricultural markets. Dombrovskis stated that "we are closely analysing the contents...to assess its...potential effects, particularly in regards to any effects on EU interest or the global broader trade environment". The EU is currently in talks with Washington about its own trade agreement that would replace the 20% tariffs across-the-board on most EU products and the 25% tariffs for steel, aluminium, and cars and parts. The U.S. set a 90 day window for negotiations that ends on July 8, 2018. Tariffs are set at 10% until then on the majority of EU goods, with the exception of steel, aluminum and cars, which have higher rates. Dombrovskis stated that "negotiations are underway between the EU and the U.S. and we intend to use this 90-day period... in order to reach a negotiated resolution, which we have indicated is our preferred solution." He said that the EU was also preparing for the possibility of a no deal outcome. Last Thursday, the European Commission proposed countermeasures against imports from the United States worth up to 95 billion euro ($107 billion). This is if negotiations between Washington and Brussels fail to resolve the tariffs that President Donald Trump has imposed. (Reporting and editing by Toby Chopra; Jan Strupczewski)
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France announces that the European Commission is working to tighten sanctions against Russia after leaders' requests
France announced on Monday that leaders who met on Ukraine at the weekend asked the European Commission for new "massive sanctions" against Russia's financial and oil sectors if Russia did not agree to a ceasefire. Jean-Noel Barrot, speaking to Normandy reporters, said that work has already begun on additional measures that go beyond the 17th package of sanctions that is expected to be adopted by the next meeting of foreign ministers on May 20. "We are preparing additional sanctions that target the financial and energy sectors." "We asked the European Commission this weekend to prepare new, more significant sanctions to force Russian president Vladimir Putin to a peace logic," Barrot stated after a phone call with European counterparts as well as U.S. secretary of state Marco Rubio. On Saturday, leaders from France, Germany and Britain were in Ukraine and had a video conference with other leaders including Ursula von der Leyen, the President of the European Commission. Donald Trump, the U.S. president, offered to attend a potential Ukraine-Russia meeting in Turkey on Thursday. This was after Ukrainian President Volodymyr Zelenskiy announced that he planned to travel to Istanbul to wait for his Russian counterpart Vladimir Putin. Russia has not yet confirmed its attendance. Diplomats say that European nations have been calling for a ceasefire in advance of any such meeting, warning about impending coordinated U.S. - Europe sanctions. However, it now appears to depend on the outcome of Thursday's talks and whether they happen. "We support a direct contact between President Zelenskiy, and President Putin." Putin suggested a direct contact between Zelenskiy, and Zelenskiy agreed. So Putin must follow through on his contract and travel to Istanbul Thursday," Barrot stated. He said that a ceasefire was necessary for serious talks to take place, as it is impossible to negotiate with drones and air strikes. Barrot stated that "we are preparing massive and powerful sanctions if he does not accept a truce." He said that potential European sanctions are being coordinated with the U.S. sanction bill that is being put together. The bill would impose tariffs on countries that import Russian oil of 500%. (Reporting and editing by Toby Chopra; Reporting by John Irish)
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What is in the Republican health and tax plan and what's not?
Republicans in Congress released the first drafts of a sweeping package to reduce taxes and spend less, which would satisfy President Donald Trump’s call to do so. However, many details need to be worked out. Here's a summary on what they've proposed so far and what has been left out. Budget estimates for the next ten years are provided by both the Joint Committee on Taxation (JCT) and the Congressional Budget Office. What's in the Bottle? Permanently extends the lower tax rates that Trump's Tax Cuts and Jobs Act of 2017 will expire in 2025. Increases the standard deduction from $1,000 to $1500 by 2029. Increased alternative minimum tax, and enhanced deductions for "pass-through businesses" such as sole proprietorships. The Child Tax Credit will be increased to $2,500, from $1,000, until 2029. It will then remain at $2,000, indexes to inflation. Raising the exemption amount for estate taxes from $14 to $15 Million Tax breaks extended to multinational corporations Total cost: $4.9 trillion What's not included? Not all aspects of the plan have been finalized, but the initial proposals don't include Trump's proposal to increase the top rate for income taxes on Americans with the highest earnings, or deductions for local and state taxes, nor do they address Trump's promises made during his campaign to eliminate taxes on tipping, overtime, and Social Security benefits. MEDICAID What's in the Bottle? Adults who are able to work or volunteer, but do not have dependents must spend at least 80 hours per month in school or on the job. Verification efforts are boosted to ensure that participants and providers of healthcare services are eligible for Medicaid. Blocks regulations which make it easier for people to enroll. The program excludes non-citizens and penalizes the states who use their own money to cover illegal immigrants. The regulations that require minimum staffing in nursing homes and long-term care facilities have been blocked. Funding for gender-transition therapies for minors is prohibited. Prohibit payments to large providers such as Planned Parenthood who specialize in birth control and reproductive health services. Limit state taxes on providers used to raise federal contribution. What's not included Reductions in payments to states who expanded eligibility under Affordable Care Act. Changes in the way that the federal government assists states to pay for the program. Total savings: $715 billion CBO estimates that the changes will reduce Medicaid enrollment by at least 8,6 million people in 10 years. Medicaid covers approximately 71 million individuals. ENERGY & ENVIRONMENT COMMUNICATIONS Cancels funding of green-energy grant programmes in the 2022 Inflation Reduction Act. This includes vehicle manufacturing, home energy upgrades, electricity transmission and wind power. Encourages pipelines, exports of natural gas and exploration. Rejecting grant programs for electric heavy-duty vehicle purchases Rejecting grants for reducing air pollution and greenhouse gas emissions. Rejecting fuel efficiency standards for cars and pickup trucks More electromagnetic spectrum bands available for communication. The law prohibits the states from regulating artificial Intelligence. Total Savings: $197 Billion (Reporting and Editing by Andy Sullivan, Scott Malone, Bill Berkrot).
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Source: Blackstone is in negotiations to purchase utility TXNM
A person familiar with this matter told me on Monday that the infrastructure investing arm of asset management Blackstone has been in discussions to purchase TXNM Energy which is a utility focused on New Mexico and Texas. Sources say that discussions between Blackstone Infrastructure Partners (BIP) and TXNM are currently underway about the structure of an agreement. However, they cautioned that the situation is fluid and a deal was not guaranteed. Source spoke under anonymity in order to discuss confidential discussions. Bloomberg News reported earlier Monday that the two parties are in negotiations for an agreement which could be reached within the next few weeks. This was based on the testimony of people who were familiar with the situation. TXNM declined to comment on a request for comments. Blackstone declined comment. TXNM Energy, based in Albuquerque in New Mexico, provides electricity to more than 800,000 homes in New Mexico and Texas. Avangrid and the company at that time, PNM Resources had agreed to sell their assets in 2020. The two parties walked away from their agreement more than three year after it was first made due to regulatory opposition. (Reporting from David French in New York, Editing by Nia William)
Gold reaches record levels as tariffs threaten to raise the price of gold.
Asia shares rose Friday, and global markets tried to rebound after a brutal sale earlier in the week. Gold reached a new record as investors became nervous due to the latest escalation in global trade tensions.
After Senator Chuck Schumer announced that he would vote for a Republican funding bill to avoid a government shutdown, he signaled his party's support.
U.S. Stock Futures were a strong response. Nasdaq futures gained more than 1% in one instance and S&P futures advanced by 0.6%.
FTSE Futures also gained 0.3%. DAX futures rose 0.6%.
Alvin Tan is the head of Asia FX Strategy at RBC Capital Markets. He said that this news, for today at least, was positive for the market sentiment.
The broadest MSCI index of Asia-Pacific stocks outside Japan, which includes Japan, traded 0.95% higher. However, it is still on course to lose 1.5% this week as global trade conflicts have weakened global stock markets.
Donald Trump, the U.S. president, said that he will impose a 200% tariff on imports of European wines and spirits if the EU does not remove the retaliatory charges on American whiskeys and other products which come into effect in the next month.
Vishnu Varathan is the head of Asia ex-Japan macro research at Mizuho.
Recent developments have sparked the steep sell-offs on Wall Street, and confirmed that the S&P 500 is in a correction. This comes just one week after Nasdaq also confirmed this.
"I don't think Trump 2.0 is the same as Trump 1.0. Michael Strobaek is the global chief investment officer of Lombard Odier. He said that this time the president appears to be willing to let U.S. stocks and the economy suffer as he implements his "America first" goals.
Gold, a safe-haven asset, has benefited from the trade war. The yellow metal hit a record of $2,993.80 per ounce last Friday. The yellow metal was expected to rise 2.6% this week.
Japan's Nikkei gained 0.8%.
Chinese stocks rose on Friday after Hohhot, a northern Chinese city, announced large cash rewards for boosting birth rates.
Investors also anticipated a press conference by officials of Beijing's top planning office and other agencies next week to discuss additional measures for boosting domestic consumption.
The Hang Seng Index in Hong Kong jumped by 2.4% while China's blue-chip index, the CSI300, grew by 2.3%. Shanghai Composite Index rose by 1.7%.
Dollar Trouble The dollar gained some ground on Friday thanks to the safe-haven flows. However, it was still not far from recent lows due to fears of an imminent U.S. economic recession and growing trade tensions.
The Euro last traded at $1.08465, down 0.04%, while the Pound fell 0.03% to $1.9475.
The German fiscal reset plan, which includes a 500-billion-euro fund for infrastructure as well as sweeping changes in borrowing rules and growth boosters to boost military spending and revive Europe's biggest economy has given the euro additional support.
The German lower house, which is leaving office in March, will vote on these measures before forming a new Parliament on March 25,
Investors will be waiting for further information on the rate outlook, amid the uncertainty surrounding Trump's policies on trade and the impact they have on U.S. inflation and growth.
"Our assessment shows that the rate trend is constant, and will continue to be lower." Varathan from Mizuho said that it's a matter of timing.
"I believe that the tariffs are only going to be an inconvenience and not a hindrance to the Fed's cuts because, even if prices increase, it will still result in a negative shock of demand, which makes people worse off.
Dollar was up by 0.5% last week against the yen, at 148.50. However, it was expected to suffer a small loss for the week against the Japanese currency due to the increasing bets on more Bank of Japan rate hikes. Next week, the BOJ will also meet.
Oil prices rose after falling the previous session.
Brent futures increased by 0.67%, to $70.35 per barrel. U.S. West Texas Intermediate Crude Futures rose 0.75% per barrel to $67.05.
(source: Reuters)