Latest News
-
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).
-
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)
-
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)
-
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)
-
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)
-
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
-
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.
-
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.
HSBC reduces emissions targets in the near term for polluting industries
HSBC released a new set of climate targets on Thursday that are softer and more flexible for near-term sectors like oil and gas. This is in response to the slow rate of change in real economy.
The targets for the end of the decade follow a review that was announced by British bank earlier this year, when it dropped its goal to reach net-zero emissions in all of its operations by 2030.
HSBC is still aiming for its operations, funded by the loan book, to produce zero emissions by 2050. It and other banks who have set similar climate goals say they want to help their clients finance the transition to lower-emissions business models.
HSBC originally based their targets on an analysis by the International Energy Agency in 2021 of what would be required to achieve the global goal of limiting the warming of the planet by 1.5 degrees Celsius before mid-century. This work has been updated since to reflect slower progress than expected.
HSBC’s new policy, announced on Thursday, now defines its goals for financed emission for high emitting sectors as a range rather than a single metric.
The lower bounds of each range are aligned to the IEA’s 2024 scenario of net zero emissions, which is consistent with a global heating pathway of 1.5 degrees. While the upper bounds are aligned with a 1.7 degree pathway.
The bank stated that it aims for a reduction of financed emissions between 14% to 30% by 2030, compared to a baseline year 2019. This is in line with the IEA scenarios.
The latest update from Europe's largest bank on its transition plan shows how lenders are reducing some of their commitments to clients in order to reduce emissions. This is despite wider setbacks against climate change.
The announcement comes at the same time as world leaders meet in Brazil for UN COP30 talks on climate change, and EU climate ministers have agreed to a softer target of cutting emissions by 90% from 1990 levels by 2040.
HSBC's new policy reflects the commercial realities of today and the bank remains on track to reach its target of providing or facilitating sustainable finance worth $750 billion – $1 trillion by 2030. (Reporting and editing by Peter Graff, Lawrence White, Simon Jessop)
(source: Reuters)