Latest News
-
CORRECTED - Asia shares becalmed due to holidays, dire Japan data
The Asian stock market quietly consolidated recent gains as the holidays led to thin trading and disappointing economic data from Japan cooled down that booming sector. China, South Korea, Taiwan, and the United States are among the centers that were off, leaving?currencies and commodities, as well as bonds, all in a state of calm. The most important data for this week will not be released until Friday, when the U.S. releases its Gross Domestic Product (GDP) for the fourth quarter and surveys of global manufacturing are released. Median predictions are for an annualised growth rate of 3.0%. This is down from the 4.4% in the previous quarter, but still solid. Japan reported on Monday that its economy grew by a meager 0.2% annually in the quarter ending December, well below the 1.6% forecast. Government spending was a drag on the activity. The figures are disappointing and highlight the difficult task that Prime Minister Takaichi faces. They should encourage her to push for fiscal stimulus. Investors may have been thinking of this when they pushed Japan's Nikkei index up by 0.2% after a 5% increase last week. MSCI's broadest Asia-Pacific share index outside Japan rose 0.1%. The South Korean tech-heavy stock market grew 8.2% in the past week. Meanwhile,?Taiwan's market climbed nearly 6%. Nick Ferres is chief investment officer of Vantage Point. He said, "Our concern in Asia is if mega-cap tech companies announce a pause on capital expenditure that could lead to a sharp correctio in memory stocks which have surged sharply this year in markets such as Korea." After their outstanding performance and re-rating, we have become more cautious about memory stocks in Korea. CAPEX - MORE CAPEX = Fewer Buybacks In Europe, EUROSTOXX Futures were flat while DAX Futures gained 0.2%. S&P futures increased by 0.2% while Nasdaq's futures gained 0.1%. Walmart will be the main attraction in this week's earnings season, as it offers a 'colourful view of consumer spending after a disappointing retail sales performance for December. Stocks of the retailer have risen 20% in value this year. Its market capitalization is now over $1 trillion, making it the largest company in the consumer staples industry. This sector will grow 15% by 2026. The rotation of defensive stocks out of the tech sector has been a boon for the defensive stocks. This is due to concerns over the high cost of AI capex, and the disruption caused by AI competition in sectors like software. Hyperscaler capital expenditure plans are now $660 billion, an increase of $120 billion from the beginning of the earnings season. Goldman Sachs analysts noted that while capex increased, S&P buybacks dropped by 7% compared to a year earlier. In a note, they said that this was the third quarter in a row of stagnation. We expect that the scarcity of free money and the buybacks, will increase the premium paid by companies that are focused on returning cash flows to shareholders. The Federal Reserve is reducing interest rates and there are no shortages of money flowing into the bond market as investors exited the stock markets. The yields on 2-year Treasuries dropped to 3.408%, the lowest since mid-2022. Futures indicate that 68% of the time the Fed will reduce rates in June, and 62 basis point of easing is priced into the futures for the entire year. The fall in yields last week?pulled down the dollar index by 0.8% to 96.890. Most of the losses were against a recovering Japanese yen. The dollar was slightly?firmer, at 152.94yen after slipping 2.9% the previous week. Meanwhile, the euro was unchanged at $1.1870. Last week, the dollar lost 1% against the Swiss Franc while the euro fell below 0.9100 Swiss Francs for first time since 2015. Markets are on high alert for possible Swiss National Bank intervention given that inflation is at 0.1%, which is near the bottom of the target range of 0% to 2 %. Gold prices on the commodity market fell 0.5%, to $5,014 per ounce, after swinging wildly over recent weeks, as investors were forced out of leveraged position. Investors digested a news report that OPEC was leaning toward a resumption of oil production increases in April. Brent was unchanged at $67.74 per barrel while U.S. crude barely moved at $62.87. (Reporting and editing by SonaliPaul)
-
US conducts the first air transport of a nuclear microreactor to demonstrate technology's viability
U.S. Military flies small reactor from California to Utah Microreactors are seen as an alternative to diesel generators for remote areas Talks are ongoing with several countries about the disposal of nuclear waste. By Valerie Volcovici HILL AIR FORMATION BASE, Utah. Feb. 15 - On Sunday, the U.S. Departments of Energy and Defense transported a small reactor from California to Utah on a 'cargo plane. This was to 'demonstrate that nuclear power can be quickly deployed for military and civilian purposes. The agencies worked with California-based Valar Atomics, to fly a Ward microreactor on a C-17 plane -- without nuclear fuel -- from California to Hill Air Force Base. Energy Secretary Chris Wright, Under Secretary of Defense Michael Duffey and the C-17 aircraft with the reactor were aboard. They hailed this event as a major breakthrough in nuclear energy and military logistical capabilities for the United States. Duffey said, "This brings us closer to deploying nuclear power where and when it is needed in order to give our nation’s warfighters tools to win battles." The administration of President Donald Trump sees small reactors as a way to increase U.S. production of energy. Last May, Trump issued four executive order aimed at?boosting domestic nuclear deployment in order to meet the growing demand for energy needed for national security as well as competitive AI advancements. In December, the Energy Department awarded two grants for the development of small modular reactors. Microreactors are also marketed as a source of energy that can be transported to remote and far-flung places. They offer a 'alternative to diesel generators, which require frequent fuel deliveries. Skeptics, however, have claimed that small nuclear reactors cannot generate electricity at a reasonable cost. Edwin Lyman is the director of nuclear energy safety at Union of Concerned Scientists. He said that there was no business case to be made for microreactors. Even if they worked as intended, they would produce electricity at much higher costs than large nuclear reactors. Wright stated that the Energy Department will have three microreactors achieve "criticality", i.e., when a nuclear reaction is able to sustain itself by July 4. According to Valar CEO Isaiah Taylor, the microreactor at Sunday's event is a little bigger than a minivan and can produce up to 5 Megawatts of energy, enough to power 5,000 houses. The microreactor will begin operating at 100 kilowatts in July and reach a peak of?250 kilowatts by the end of this year, before ramping up to its full capacity. Valar hopes that it will be able to sell power in 2027 on a trial basis and then become commercially viable in 2028. The private sector funds its own nuclear technology development, but it needs federal support to "allow fuel fabrication and uranium enlargement here" according to Mr. He said. Wright, a reporter at the San Rafael facility said that fuel for Valar's nuclear reactor would be transported from Nevada National Security to the San Rafael site. Lyman stated that even small 'generators' produce a large amount of radioactive waste. Some experts say that designers are not "compelled" to take into account waste from the start, but only have to plan how it will managed. Wright stated that although the issue of disposal of nuclear waste is still unresolved, the Energy Department has been in discussions with several states, including Utah to host sites for reprocessing fuel or permanent disposal. (Reporting and editing by Sergio Non, Lincoln Feast, and Valerie Volcovici.)
-
SAIC India to invest up $440 million in expansion and deepen its bet on hybrids and EVs
JSW MG Motor is a joint venture of China's SAIC Motor with India's steel to cement JSW Group. It plans to invest 'up to $440m' to expand its India 'factory' and launch new vehicles, with a particular focus on hybrid 'and electric models', according to its managing director. Loss-making automaker SAIC has struggled with growing its presence in India since New Delhi, in 2020, tried to limit investment from Beijing. In 2024, SAIC sold its India unit's minority stake to JSW to raise money. However, despite the fact that sales have been increasing, SAIC has not yet become profitable. JSW MG Motor Managing director Anurag Mehrotra said to reporters that the company will invest between 30 and 40 billion rupees (between 330?millions to $440?millions) in the next few year to launch 3 to 4 new vehicles this coming year. The plant's capacity is also expected to be increased to 300,000 -units a yearly from the current 120,000 units. This will be funded by multiple sources. He said that internal accruals would be sufficient for the current year. Other options, such as debt and equity, will also be considered. INDIA-CHINA RELATIONS HAS LIMITED JSW's MG MOTOR GROWth India is the third largest car market in the world. Japanese carmakers such as Toyota and Suzuki are investing billions of dollars and European companies, like Renault, are making a comeback. Chinese investors have been largely kept out of the market because of investment curbs. SAIC and BYD both sell cars in India. However, growth has been slow. SAIC had been in discussions to reduce its 49% stake. JSW, with a 35% stake in SAIC, offered to buy the majority of SAIC's share, but both sides disagreed about valuation. Mehrotra, a political analyst in New Delhi, said that he is seeing an improvement between the two countries. "Visas and flights are both more readily accepted than before. He said that although it is better than "a couple of years ago", the risks are still present. CARMAKER BETS ON NEW ENERGY VEHICLES TO BOOST SALES JSW MG Motors' losses grew by double to $121 millions in the year ending March 31, 2025. The company had borrowed $344 million and a cash balance of $60 million, according to reports filed with government. Sales of the company have been increasing. The company sold?70.500 cars during the calendar year 2025, up from 61,000 in 2024. This was primarily due to its Windsor electric car. Mehrotra stated that the company's strategy was to build a competitive edge through its hybrid and electric car portfolio, which he defines as "new energy vehicles" (NEVs). Mehrotra stated that "in our product and volume plans we do not expect NEVs to fall below 75%." He added that he anticipated NEVs would make up 30% of India's annual total sales of up to 6,000,000 by 2030. This is an increase from the current?5% of India's annual sales. He said that the company would also save money by sourcing components locally rather than importing them. The ability to increase profitability will come from a deeper localisation of the vehicles. Mehrotra said that it reduces the risk of foreign exchange and dependency on sea freight. (Reporting and editing by Aditi Sha; Jamie Freed).
-
Oil drifts before US-Iran Nuclear Talks
Oil prices were flat on Monday, ahead of a meeting between Washington and Tehran. Concerns about Iran-U.S. relations disrupting oil shipments are keeping prices down, while OPEC+ is in favor of resuming production increases from April. Brent crude futures were down 3 cents at $67.72 per barrel as of 0156 GMT, after ending Friday 23 cents higher. The price of U.S. West Texas Intermediate Crude was $62.86 per barrel, down by 3 cents. Due to a Monday holiday, there will be no WTI Settlement. Both benchmarks saw weekly declines last week. Brent settled down around 0.5% while WTI?lost about 1%. Comments on Thursday by U.S. president Donald Trump, that Washington could reach a deal with Iran?over the coming month, drove prices down on Thursday. Both countries have re-started their negotiations to resolve their decades-old dispute over Tehran's nuclear programme. They will hold a?second round of talks? in Geneva, on Tuesday. An Iranian diplomat said that Iran was pursuing an agreement with the U.S. on nuclear energy that would provide economic benefits to both parties. Discussions include investments in mining and energy, as well as aircraft purchases. Tony Sycamore, IG's market analyst, said that expectations were low for a deal to be struck. "Both sides are expected to be firm in their core redlines. This is likely?to?be the calm before the hurricane." U.S. officials have told? that they have sent a second aircraft to the region, and are preparing for a possible sustained military campaign in the event the talks fail. Officials have informed?. Iran's Revolutionary Guards warned that if there were any strikes on Iranian soil, they would retaliate by attacking any U.S. base. Reports indicate that the Organization of the Petroleum Exporting Countries (OPEC+) and its allies are considering a return to production increases in April after a three-month pause, so as to meet the peak summer demand. Sycamore stated that the market "reacted fairly well" to these?reports. He said that if the geopolitical support or premium wasn't present, WTI crude oil was likely to be trading below $60 this morning. China, South Korea, and Taiwan are all closed on Monday.
-
Police officials report that Israeli producer of the 'Tehran TV series' found dead in Athens, Greece hotel
Greek police officials said that the Israeli producer of "Tehran", a hit spy thriller, was found dead in a hotel room on Sunday. An investigation is currently underway. After several unsuccessful attempts to contact her, a relative found the body of a 52-year old woman identified as Dana Eden. Police officials stated that the?case was being treated as a suicide based on?evidence and testimonies. Investigators from Greece found pills at the scene. The victim's neck was also bruised by the coroner. In a statement, Donna and Shula Productions, an international production company, said: "This is a time of great sadness for the family, colleagues, and friends." "The production company wishes to clarify that rumors regarding a criminal ?or nationalistic-related death are not ?true and are ?unfounded," it said, urging media and the public to refrain ?from publishing unverified claims. Israeli media outlet Kan reported that Eden was in Greece filming the fourth season of the show Tehran. (Reporting and writing by Angeliki Koutantou. Maayan lubell, Hannah Confino and Yannis Souliotis. Editing by Sharon Singleton.
-
Israeli airstrikes kill 11, Palestinians claim; Israel claims Hamas broke truce
Officials from the Palestinian Authority said that Israel launched airstrikes in the Gaza Strip, killing 11 Palestinians. The military claimed the strikes were a response to the ceasefire violations committed by the militant Palestinian group Hamas. Gaza medics reported that a?Israeli airstrike? on a tent camp housing displaced families has killed at least four. Health officials have confirmed another strike in Khan Younis, in the south. A fifth person has been shot dead in Khan Younis, in the north. In the Tel Al-Hawa neighborhood of Gaza City, airstrikes were also launched against what was believed to be the commander of the Islamic Jihad, an ally Hamas. Hazem Qassem is the Hamas spokesperson for Gaza. He accused Israel of a "massacre" of Palestinians who were displaced. Israeli military officials called Sunday's strikes?precise?" and in accordance with international law. They also said that the Palestinian militant group repeatedly violated a October ceasefire. Israel and Hamas repeatedly blamed each other for violating the ceasefire agreement, which is a crucial element in Trump's plan to stop the Gaza War, the bloodiest and most destructive conflict between Israel and Palestine over the years. According to Israeli statistics, the war began with the Hamas attack of October 7, 2023 on southern?Israel which killed more than 1,200. According to Palestinian data, Israel's air-and-ground war in Gaza since then has killed over?72,000 Palestinians. TRUMP'S "BOARD OF PEACE" TO HOLD ITS FIRST MEETING THURSDAY An Israeli military official stated that "in recent hours the IDF has started striking in response to Hamas’s blatant breach of the ceasefire yesterday in the Beit Hanoi area." Officials said that militants emerged from a tunnel located on the Israeli side the of "Yellow Line", which was agreed upon under the ceasefire agreement to demarcate Israeli and Hamas controlled areas. The official stated that crossing the Yellow Line near IDF troops while armed is an explicit ceasefire breach. It shows how Hamas violates the "ceasefire agreement" with the intent to harm IDF soldiers. Israel unilaterally shifted the yellow line further into Gaza, despite the fact that Israeli withdrawals were part of the ceasefire agreement. Hamas, meanwhile, has rejected the demands for it to lay down its weapons as stipulated in the plan. Israel said that it would have to force Hamas into disarming if they didn't. Qassem urged all those who attended the first meeting of Trump’s new international Board of Peace for Gaza, which took place on Thursday, to pressurize Israel to stop violating truces and implement the agreement immediately. Last week, U.S. officials informed? Last week, U.S. officials told? Israeli officials said they continued to destroy tunnels under the Gaza Strip according to the agreement. They also stated that their aircraft attacked a building located east of the Yellow Line after seeing militants emerge from a tunnel, killing 'at least two' of them. Gaza officials did not have any information about the reported casualties. Gaza's health ministry reports that Israel has killed at least 600 Palestinians since the Gaza agreement began. Israel claims that militants have killed four Israeli soldiers in Gaza during the same time period. Reporting by Nidal Al-Mughrabi, Steven Scheer and William Mallard; Editing and Philippa Fletcher by William Mallard
-
Netanyahu says US deal with Iran must dismantle nuclear infrastructure
Benjamin Netanyahu, Israeli Prime Minister, said that he had told Donald Trump the week before that any U.S. agreement with Iran would include dismantling the?Iran's nuclear infrastructure and not just stopping the enrichment process. Netanyahu said that Israel must "complete" the task of destroying tunnels in Gaza. He spoke at a conference of presidents of major American Jewish organizations. Israel has dismantled an estimated 500km (93 miles) or 150 km of tunnels, according to Netanyahu. This week, a second round of negotiations between the U.S.A. and Iran is scheduled. An Iranian diplomat said that Iran was pursuing a?nuclear?agreement? with the U.S. which would provide economic benefits to both parties. Netanyahu is skeptical of any deal, but insists that it must include the removal of enriched material from Iran. He said: "There will be no capability of enrichment - that is, not just stopping the process but also dismantling all the equipment and infrastructure which allows you to enrich." Iran and the U.S. resumed negotiations this month in order to resolve their decades-old dispute over Tehran’s nuclear program and avoid a new war. U.S. officials said that the country has sent a second aircraft to the region in preparation for a possible sustained military campaign, if the talks fail. Netanyahu said he also aimed to 'end U.S. Military Aid to Israel in the next 10 years, after the current 10-year deal that receives $3.8 billion per year - largely spent on equipment in the United States - ends?in 2028. A booming economy means that "we can afford a 10-year phase-out of the financial component to the military aid we receive. I propose to reduce it to zero in the next 10 years." Netanyahu stated that the current memorandum will expire in three years and then another seven to bring it down to zero. He said, "We want the United States to shift from aid to partnership." (Reporting and editing by Susan Fenton; Steven Scheer)
-
Olympics-Biathlon-Ponsiluoma peaks on final shoot for sweet Swedish biathlon gold
After a poor start for the highly-anticipated Swedish biathlon team, Martin Ponsiluoma was able to shake off the dust on Sunday with a 'perfect series? of five shots in the final shoot. He also had a superb last lap. This resulted in him winning gold at the men's 12.5"km pursuit. The Swede, known to his team as "Ponsi", piled pressure on France's Emilien Jacquelin who missed two times to incur costly penalty loops. "I tried not to look at his targets but I heard and thought it was two misses so I tried to focus on myself. Ponsiluoma said after his gold victory, "Make a quick and clean'shoot. He admitted to being afraid of the chasing pack, which included Olympic and World champions. He said, "I was nervous but I felt on the last part of the loop, that this is okay, so I tried to enjoy it." The Swedish team was criticized for not being able to explain the reasons why their first few races did not go according to plan. But Ponsiluoma’s gold has cleared away all those cobwebs. "Yeah it feels incredible, and I'm hoping that?it will bring a lot of?energy to the team." He said, "We have great chances to win the next races as well. I hope that we take them." Sturla Laegreid, who snuck in front of Jacquelin to win the silver medal, was able to do so because Jacquelin missed his opportunity. Laegreid said to reporters that it was about doing one thing at a?time" after he won the silver medal. He also received two bronze medals in the sprint and individual races. "Ski one meter, shoot one shot, do my very best right now, and then, at the end, count the results." "I never thought I would be able to catch Martin. He's an extremely strong skier and I know he didn't push himself in the final lap. So he won the gold medal like a true champion." Reporting by Philip O'Connor, Editing by Andrew Cawthorne
Trump's Paris climate exit will strike more difficult than in 2017
A second U.S. withdrawal from the world's main environment pact will have a. bigger impact in the U.S. and globally than the nation's. initially pull away in 2017, analysts and diplomats informed Reuters. Among President Donald Trump's very first acts on going back to. workplace on Monday was to stop the Paris Contract as part of his. strategies to stop U.S. environment action.
The effect will be to increase the opportunity of global warming. escalating, to slow U.S. environment financing internationally, and. leave financiers struggling to browse the divergence in between. European and U.S. green guidelines.
This U.S. withdrawal will take effect in one year, faster. than the 3.5-year exit duration when Trump first stopped the Paris. accord in 2017.
Ever since, climate change has ended up being more severe. In 2015 was the world's hottest on record, and the first in. which the average global temperature surpassed 1.5 degrees. Celsius (2.7 degrees Fahrenheit) of warming - the limit the. Paris Agreement dedicates nations to trying to stay below.
We are taking a look at overshooting 1.5 C degrees - that is. ending up being very, likely, said law teacher Christina Voigt. at the University of Oslo.
Which, obviously, gives the leading edge that much more. ambitious international action on environment change is required, she said.
PARIS PACT PREPARES. Today's climate, determined over years, is 1.3 C warmer than in. pre-industrial times, and on track for at least 2.7 C of warming. this century. While treacherous, that is less extreme than the 4C. predicted before countries worked out the 2015 Paris Arrangement. Each nation's promise towards the Paris goal is voluntary. However, Trump is expected to scrap the U.S. national. emissions-cutting strategy and possibly also Biden-era tax. credits for CO2-cutting jobs.
All of this will further jeopardise the achievement of the. Paris Agreement's temperature level goals, Michael Gerrard, a legal. teacher at Columbia Law School, stated.
That has certainly an influence on others. I mean, why should. others continue to get the pieces if one of the crucial players. when again leaves the room? said Paul Watkinson, a previous. French climate negotiator who worked on the 2015 Paris. Contract.
Some U.S. states have stated they will continue environment. action.
Despite politics, beneficial economics drove a clean. energy boom throughout Trump's first term - with Republican politician. fortress Texas leading record-high U.S. solar and wind energy. growth in 2020, U.S. federal government information show. However Trump has actually already taken steps to attempt to prevent a repeat of. that, on Monday suspending overseas wind leases and withdrawing. Biden's electrical lorry targets.
The U.S. produces around 13% of global CO2 emissions today. but is accountable for most of the CO2 released into the. atmosphere considering that the Industrial Revolution.
CLIMATE CASH STOP
As part of the Paris Contract exit, Trump on Monday ordered. an immediate cessation of all U.S. funding vowed under U.N. climate talks.
That will cost poorer nations a minimum of $11 billion - the. U.S. government's record-high monetary contribution delivered. in 2024 to help them manage climate change.
Together, all abundant nations' governments combined. contributed $116 billion in environment funding for establishing. countries in 2022, the latest available OECD information show.
That does not include the substantial climate-friendly federal government. moneying Biden rolled out domestically, whose future under Trump. is uncertain.
Total U.S. environment costs - counting domestic and. worldwide, from personal and public sources - jumped to $175. billion yearly over 2021-2022, enhanced enormously by the 2022. Biden-era Inflation Decrease Act, according to non-profit. research group the Environment Policy Initiative. The U.S. is likewise responsible for funding around 21% of the core. budget for the U.N. environment secretariat - the body that runs the. world's climate modification negotiations, which deals with a financing. shortage.
MISSED CHANCES
The We Mean Organization Union, which is backed by Amazon. and Meta, said Trump's disruption of the U.S. organization. environment might drive green financial investment elsewhere.
It might unlock for other major economies to bring in. higher investment and skill, the non-profit group stated.
3 investors told Reuters the shift to green energy,. consisting of in the U.S., will move on regardless.
One impact of the Paris exit will be to avoid U.S. organizations from offering carbon credits into a U.N.-backed carbon. market that might be valued at more than $10 billion by 2030,. according to financial info supplier MSCI.
While no longer able to earn money from offering any surplus. credits, U.S. business would have the ability to purchase them on a voluntary. basis.
U.S. airline companies, for instance, might still purchase them to meet. U.N. aviation environment targets, said Owen Hewlett, Chief. Technical Officer at carbon market standard setter Gold. Requirement.
The Paris withdrawal is also a problem for banks and cash. managers captured in between the U.S. environment retreat and pressure. from Europe to provide faster on environment objectives there.
U.S.-based asset managers with European customers will need. to be like a two-headed Janus, Mark Campanale, creator of the. non-profit Carbon Tracker Effort, said. Will they run the risk of. losing European customers to keep U.S. political leaders delighted? I question. it.. Currently, U.S. banks have actually left a banking sector climate union. following Republican criticism.
That does not absolve them and other international companies. from requiring to abide by strict approaching European guidelines for. sustainability reporting. Given the patchwork of global environment policies, companies are. likely to keep up their climate efforts-- but to adopt green. hushing methods, he said.
That suggests, Campanale said: Do it, but do not publicise it..
(source: Reuters)