Latest News
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NFL-Cowboys Defensive End Kneeland Dead at 24
The Dallas Cowboys and the NFL announced that Marshawn Kneeland, a defensive end for the Dallas Cowboys, died Thursday morning at age 24. He was in the second season of his career with the team. No details were immediately available about the cause of his death. It occurred three days after he had scored his first touchdown in a career. The Dallas Cowboys posted a statement on their website expressing the extreme sadness they felt at the news that Marshawn Knieland had tragically died this morning. "Marshawn is a beloved member of our team and organization. Marshawn's girlfriend Catalina, and his family are in our thoughts and prayers. Kneeland, a 2024 second-round pick from Western Michigan, was selected by the draft board in the second round. The NFL released a statement saying that it was "deeply saddened" by the news of Marshawn's death. (Reporting from Amy Tennery, New York; additional reporting by Rohith Niair; editing by Alex Richardson).
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Gold prices rise as US tariffs and shutdown uncertainty boost demand
Gold prices rose Thursday, just below $4,000 an ounce. This was due to a weaker US dollar, a surge in demand for safe-haven assets, and concerns about a prolonged U.S. shutdown, as well as uncertainty regarding the legality and validity of tariffs. By 09:43 am, spot gold had risen 0.4% to $3.998.65 an ounce. ET (1207 GMT). U.S. Gold Futures for December Delivery gained 0.3% to $4.005.40 an ounce. Dollar fell by 0.3%, after reaching a four-month peak in the previous session. This made gold more affordable for holders of other currencies. Benchmark U.S. Treasury yields for 10-year securities were down by 1.3%. Peter Grant, senior metals analyst at Zaner Metals and vice president, said that the U.S. shutdown of government and the doubts of U.S. Supreme Court Justices about the legality and sweeping tariffs of U.S. Donald Trump are causing a "revival of the haven bid". "I'd say that a reasonable target for the end of the year is in the range between $4,300 and $4,400/oz." Gold is a good hedge in times of uncertainty. Gold is a non-yielding investment that also performs well in environments with low interest rates. Markets expect that the U.S. Federal Reserve will cut interest rates again in December. The monetary policy outlook may be revealed by a number of Fed officials who are scheduled to speak in the afternoon. The ADP report on Wednesday showed that private employers in the United States added 42,000 new jobs in October. This was above the forecast of 28,000, according to ADP. SP Angel wrote in a report that it would be surprising if gold remained rangebound at $4,000/oz, as speculative money exits the market. Central bank purchases will remain the main positive tailwind for gold going forward. The price of spot silver increased by 0.4%, to $48.24 an ounce. Platinum was down 0.2%, at $1,568.26. Palladium dropped 1.3%, to $1401.14. (Reporting from Noel John in Bengaluru and Pablo Sinha, with additional reporting by Kavya Baliaraman. Editing by Sahal Muhammad)
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French artist strikes red figures in Amsterdam's canals to protest climate change
James Colomina, a French artist, has created a life-sized red figure that is floating in an Amsterdam canal with a flag saying "I'm Fine" as a protest against global climate policy. One of the second red paintings by Colomina is of a young child painting the waterline of a canal far above its current level. Amsterdam is below sea level like a third or so of the Netherlands. This area has a vast system of canals, dikes and pumps that keep it dry. Climate change is a serious emergency. "Climate transcends all boundaries, all beliefs, and all opinions," Colomina stated about the installations. "We are no longer discussing politics but survival." "Through my work, I remind people of the urgency." Daniel Lawless, a 64-year-old Canadian tourist, was initially confused when he first saw the "I am fine" artwork. He thought it depicted a drunk Dutchman. When he realized it was about climate change, the artwork took on a new meaning. When you think about it, and the fact that climate change is involved, it makes you wonder, "Wow, how serious can it be?" He said, "We really have to think about it and look at it." The red statues of Colomina have been seen all over the world, including in New York, where Donald Trump emerged from a manhole, in Central Park in Russia, riding a toy-tank, and in Ukraine and Spain, with peace statues. (Reporting by Charlotte Van Campenhout Hilde Verweij, Editing by Alexandra Hudson)
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EDF plans to build 30 small modular reactors in 2050. The design is planned for 2026.
A senior executive at the state-owned French utility EDF said that the company aims to complete the design for a small modular nuclear reactor by the end of next year. The goal is to be able to compete on a global market where the demand for this new technology has been increasing. Julien Garrel is the CEO of Nuward's small modular reactor division. He said that by 2050, Nuward aims to put up to 30 small reactors into service. EDF will pull back from the international markets with its larger reactors. However, small modular reactors are marketed to industries that require a lot of power such as metallurgy or data centres. A SMALL MODULAR RACTOR HAS NOT BEEN PRODUCED IN MASS. The small modular reactor is not yet mass-produced, but dozens are racing to put their technology on the market. This smaller scale is seen as an effective power supply solution that has a lower entry barrier than expensive traditional reactors. EDF announced last year that they had abandoned their own design of small modular reactors in favor of proven technologies. Garrel said that Nuward's small nuclear reactor will produce 400 megawatts and 115 Megawatts heat. This makes it suitable for providing stable baseload electricity to industry. The first prototype is expected to be online in 2035 Garrel stated that the first prototype should be operational in 2035. Garrel added that one reactor per year will follow until there are four reactors in both countries. He said: "We're confident that we can deliver electricity and heating at a price competitive with the market, and there will be a demand for us." EDF's spokesperson stated that there is no guarantee that the small modular reactors would be built in France, and they could also be constructed in other parts of Europe. Garrel stated that the French government, industrial clients, banks, and private investment funds are expected to provide funding. EDF plans to make its final investment decision in its six EPR2 large-scale reactors for the home market by the second half 2026. (Reporting and editing by Conor Humphries; Forrest Crellin)
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NRG Energy expects a higher core profit in 2026 due to strong power demand
NRG Energy forecast a core profit of $1.2 billion for the full year 2026, compared to its revised range for 2025. The company's shares rose 1% before the market opened on Thursday due to the surge in power demand. NRG will benefit from the surge in electricity demand in Texas. This is due in part to a boom of data centers that require large, stable power supplies in order to support artificial-intelligence and cloud computing operations. Utility expects a core profit of between $3.93 and $4.18 in 2026, as opposed to its updated guidance for 2025 of $3.88 to $4.03 Billion. NRG received a low-interest loan of $562 million from the Texas Public Utility Commission late in the quarter reported. The funding will begin in September 2025, and continue until 2028. NRG has expanded its partnership with PJM data centers in the quarter reported, signing two long-term retail energy deals totaling 150 MW. The total number of agreements now stands at 445 MW, spread across Electric Reliability Council of Texas sites (ERCOT), and PJM. New facilities are expected to be online between 2028-2032. NRG's Board approved a new share buyback program of $3 billion through 2028, and a 8% increase in dividends to $1.90 - aligning itself with its long-term growth goal of 7-9%. The company has reaffirmed the recently increased profit forecast for this year, which was raised from $7.55 to $8.15. The utility's Texas division saw its core profit increase 38%, to $807 millions, from the previous year. According to LSEG, the Houston-based company posted an adjusted profit per share of $2.78 in the third quarter that ended on September 30. This was compared to analysts' estimates of $2.10, according LSEG. Reporting by Pranav mathur in Bengaluru, Editing by Shailesh kuber
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Vistra expects higher core earnings in 2026 on the rise in US power demand
Vistra Corp forecast adjusted core profit for 2026 higher than the outlook it gave this year. This reflects its confidence in its expanding power generation portfolio, and its strong demand throughout U.S. market. As it expands its gas-fired energy and clean energy capacities, the Texas-based electricity company expects an adjusted EBITDA of between $6,8 billion and $7.6billion in 2026, up from a forecast range for 2025 of $5.7 to $5.9billion. Vistra's Board also approved an extra $1 billion worth of share buybacks. According to the U.S. Energy Information Administration, a surge in AI- and cryptocurrency-based data centers combined with the accelerating electricification of homes, businesses and other buildings is expected to drive U.S. electricity demand to record levels by 2025 and 2026. Vistra, to meet the rising demand for electricity, has signed a deal with a nuclear power plant that will supply 1,200 megawatts over a period of 20 years. It also acquired seven natural-gas facilities totaling 2,600MW at a cost of $1.9 billion. The company is also moving forward with the construction of several solar and energy storage projects in Texas, Illinois and California. These are backed by long term power purchase agreements, signed with Microsoft and Amazon. Vistra's third-quarter net income, however, was down to $652m due to the decline of unrealized derivative gains of $1.67bn and increased operating costs. Operating expenses in the quarter July-September increased by 6.3%, to $655 millions.
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Utility Evergy's forecast for 2025 is lowered due to cooler summers, as the company misses its quarterly profit estimate.
Utility Evergy missed Wall Street's adjusted profit estimates for its third quarter on Thursday and cut the upper end of the adjusted earnings forecast 2025 due to the impact from milder summer weather conditions and higher interest costs. The quarter saw a drop in earnings for utilities like Evergy due to a cooler than normal summer. In a press release, CEO David Campbell stated that while we have implemented cost-saving and mitigation measures across the company, they do not completely offset weather headwinds in the second and third quarters. The high interest rates have made it difficult for utility companies to build and maintain vital infrastructure at a time of rising electricity demand due to the AI-driven boom in data centres. Evergy reported that interest expenses increased 5.63% in the third quarter of 2009, to $152 millions. Operating expenses decreased 2.75% from a year ago to $1.15 Billion. According to LSEG, on an adjusted basis the company reported a profit per share of $2.03, falling short of estimates of $2.06, as per LSEG's data. The company expects its 2025 adjusted profit to range between $3.92 and $4.02 for each share, compared to the previous range of $3.92 and $4.12 shares. Evergy supplies power to over 1.7 million Kansas and Missouri customers through its operating subsidiaries Evergy Kansas Central and Evergy Missouri West. (Reporting from Varun Sahay in Bengaluru, Pooja Meon and Katha Kaalia in Bengaluru. Editing by Vijay Kishore.
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The sickly trees that are destroying Europe's climate goals
The European Union's governments decided to lower their 2040 emission-cutting target this week due to concerns about Europe's degraded forests. EU countries endorsed a Wednesday target to reduce their net greenhouse gas emission by 90% from 1990 levels by 2040 - an aim designed to keep them in line with the EU's legally binding commitment to achieve net zero emissions by 2020. The agreement also included flexibility in various sectors. The 2040 goal could be reduced in the future if Europe's peat bogs, grasslands and forests are unable to store and absorb millions of tons carbon dioxide as compensation for industrial pollution. In recent months, many governments, from Sweden to France, warned that Europe's forest are absorbing much less CO2 than they hoped. This is due to wildfires, droughts, and climate change. The agreement is a good achievement because it takes into account the uncertainties surrounding the CO2 uptake by forests, said Sweden's Environment minister Romina Pourmokhtari. FORESTS FALLING BELOW CO2 TARGETS Scientists have documented that climate change leads to more heatwaves, droughts, and slowing of tree growth. This sets the stage for wildfires as well as pest infestations. This year, wildfires charred more than one million hectares in the EU. It was the largest amount of land burned ever. According to the European Environment Agency, Europe's forests, land use and CO2 absorption has decreased by almost a third over the past decade due in part to climate change, but also because of increased logging. According to the Natural Resources Institute Finland, since 2021 forests in Finland have emitted more carbon dioxide than they have absorbed. Sweden's CO2 sink from forestry has been more than halved in the last 20 year. According to EU diplomats, Sweden and Finland backed the EU’s goal of reducing emissions by 90% and resisted attempts from other countries to further weaken this target. Both are equally important. In September, they warned that they would not meet the EU forest emission targets for 2030. They also said that they could face "dire" consequences on their economics if they had to reduce wood harvesting to comply. Sari Multala, Finland's climate minister, said that 14 out of 27 EU member states are not on track to meet their 2030 land use, land-use change, and forestry targets. Around 70% of Sweden, and Finland is covered by forests. Around 10% of Sweden's total exports are wood products, and Finland is almost half that amount. In Sweden, the wood industry employs around 140,000 people. In a letter sent to EU leaders last month, Ursula von der Leyen, President of the European Commission, promised to take measures to address the concerns about the 2030 LULUCF legislation. This was done to get their support for the 2040 climate target. ACCORD PROVIDES FLEXIBILITY IN TARGETS The climate target for 2040, which was agreed upon after long-lasting negotiations in Brussels, and before the world leaders met on Thursday in Brazil at the U.N. COP30 Summit, provided a number of options to address these concerns. According to the EU agreement, one option was to introduce an emergency brake that would allow governments to reduce their 2040 climate targets if they realized forests and land-based activities were not absorption CO2 as expected. France proposed this option. One option was to allow countries to purchase foreign carbon credits up to 5% to meet the 90% reduction goal. This could potentially reduce the domestic target by 5%. From the automotive industry to the defense sector, industries have expressed concern that they could be liable for any shortfall in emissions if forests and wetland play a diminished role. The final target stated that other industries would not be required to reduce emissions faster in order to meet the 2040 goal if natural eco-systems do not perform as expected. POLITICAL CHALLENGES Ahead The Joint Research Centre of the EU has stated that climate risks in forests can be managed through a reduction in intensive logging or by planting more tree species which could enhance CO2 storage. Sweden's Forestry Agency said that the best way to increase CO2 absorption from Sweden's forest was to reduce felling by 10%. The Environmental Objectives Committee of Sweden, a government agency, has also recommended that forestry companies be encouraged to allow trees to grow longer and reduce the amount of tree felling. The forestry industry is a major employer and generates thousands of jobs. The Swedish Forest Industries Federation stated that the proposals of the government committee would result in a 5%-6% drop in production, worth 8 billion Swedish crowns (US$849.66m) and potentially cost 7,200 positions.
EDF plans to build 30 small modular reactors in 2050. The design is planned for 2026.
A senior executive at the state-owned French utility EDF said that the company aims to complete the conceptual design for a small modular nuclear reactor by the end of next year. The goal is to be able to compete on a global market where the demand for this new technology has been increasing.
Julien Garrel is the CEO of Nuward's small modular reactor division. He said that by 2050 the company hopes to have 30 small reactors operational.
EDF will pull back from the international markets with its larger reactors. However, small modular reactors are marketed to industries that require a lot of power such as metallurgy or data centres.
A SMALL MODULAR RACTOR HAS NOT BEEN PRODUCED IN MASS.
The small modular reactor is not yet mass-produced, but dozens are racing to put their technology on the market. This smaller scale is seen as an effective power supply solution that has a lower entry barrier than expensive traditional reactors.
EDF announced last year that they had abandoned their own design of small modular reactors in favor of proven technologies.
Garrel said that Nuward's small nuclear reactor will produce 400 megawatts and 115 Megawatts heat. This makes it suitable for providing stable baseload electricity to industry.
The first prototype is expected to be online in 2035
Garrel stated that the first prototype should be operational in 2035. Garrel added that one reactor per year will follow until there are four in both countries.
He said: "We're confident that we can deliver electricity and heating at a price competitive with the market, and there will be a demand for us."
Thorizon, a competitor in Europe, is aiming to have a reactor operational by 2030. Newcleo has a 2031 prototype deadline. OPG Canada has already begun work on its first prototype of its boiling water nuclear reactor.
EDF's spokesperson stated that there is no guarantee that the small modular reactors would be built in France, and they could also be built elsewhere in Europe.
Garrel stated that the French government, industrial clients, banks, and private investment funds are expected to provide funding.
EDF plans to make its final investment decision in its six EPR2 large-scale reactors, for the home market. The company expects to deliver these by the second half 2026. (Reporting and editing by Conor Humphries; Forrest Crellin)
(source: Reuters)