Latest News
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Von der Leyen: EU's decision to abandon nuclear power was a strategic error
Ursula Von der Leyen, President of the EU Commission, said that the decision to reduce nuclear energy's share in the mix of electricity production?in Europe was a strategic error. She said in a speech in Paris at a nuclear energy event that "this reduction in nuclear share was a decision, and I believe it was a mistake for Europe to turn its back on an affordable, reliable source of low-emission power." She said that in 1990, the EU relied on nuclear power for a third of its electricity. Now, it's only about 15%. She added that the European Union wants to?stimulate the development of small reactors in order to reduce Europe's dependence on fossil fuel imports. "We are witnessing a global renewal of nuclear energy." "Europe wants to be a part of this," von der Leyen said when she announced the EU's 200 million euro ($233 million) investment guarantee to encourage investments in?the?development of small modular reactors. She said that the money would come from a system of trading emissions in the EU. She said, "We would like to see this technology operational by the early 2030s." Von der Leyen said that the soaring prices of energy caused by the Middle East war were a "stark reminder" of Europe's vulnerability, as an importer of fossil fuels. He also stressed the importance of increasing the production of power from renewable sources and nuclear reactors.
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Exxon to abandon New Jersey incorporation in favor of Texas homecoming
Exxon Mobil wants to abandon its corporate registration in the state of New Jersey and re-incorporate in Texas, where its headquarters is located. This move could strengthen its defenses against climate activists and activist shareholders. Exxon made the announcement in a proxy file. If shareholders approve the move, Exxon will become the latest high-profile company to register in Texas, joining SpaceX, Tesla, and Coinbase. A new Texas law improved legal protections for business through various mechanisms. This included reducing shareholder litigation threats by allowing companies to set stock-ownership thresholds. The company stated in its filing that "the Board believes Texas legislators and judges who could make decisions that impact Exxon Mobil, are generally more knowledgeable about our business and operations." Longtime environmental lawsuits have been filed against the top U.S. producer of oil, with its physical headquarters in Spring, Texas. New Jersey officials will sue Exxon, Chevron, and other fossil fuel?companies by 2022. They claim that these companies 'contributed to the climate change and forced New Jersey to spend billions to clean up from major natural disasters like Superstorm Sandy and hurricane Ida. The lawsuit was dismissed in 2017. Jill Fisch, law professor at the University of Pennsylvania, says that incorporating in the state where a company has its headquarters will help the executives to get the attention of politicians who can assist them with tax questions or other issues. She said that incorporating in your state is a great way to show loyalty to your home and to get legislators to take notice of you. Exxon has its roots in New Jersey, but its headquarters are in Texas. Exxon introduced a new program in September to prevent activist shareholder resolutions at annual meetings. The program allows retail investors to vote automatically in accordance with the board's recommendation. Nearly 40% are owned by individuals, but only a quarter vote during the proxy season. They mostly support the company board. Texas has tried to?reinforce its reputation as a haven for businesses and has been a big beneficiary as companies such as Delaware have left the state, which was a popular destination for incorporation. Reporting by Sheila Dang, in Houston; and Ross Kerber, in Boston. Editing by Nathan Crooks & Muralikumar Aantharaman.
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Hugo Boss says Middle East conflict has not yet affected its profits, despite exceeding estimates.
The German fashion group Hugo Boss announced a better-than expected annual operating profit on Tuesday, despite a difficult market environment. It also said that it has not yet felt the impact of the Middle East conflict. The company's earnings before interest and tax (EBIT), which were 391 million euro ($455million) in 2025, are up from 361 millions euros a year ago, and well above the average analyst forecast of 379million euros, according to a poll conducted by the company. Early trading saw a 4% rise in shares of the company. The stock has risen 1.3% from the beginning of the year, including today's session. This is the best day for the stock since July 2025. Hugo Boss has confirmed that it will be releasing its 2026 full-year forecast in December of last year. In a recent statement, Chief Executive Officer Daniel Grieder stated that "2025 highlighted once again the rapid transformation of our industry, shaped largely by technological innovation, evolving consumer preferences, and continued macroeconomic and geopolitical uncertainties." Grieder said that 2026 would be the year for the company to realign its brand and channels, which will have a temporary impact on top-line and bottom-line growth. Hugo Boss introduced a new brand strategy in December of last year. The goal was to?strengthen the brand through improving stores, focusing its attention on categories with high growth, such as shoes and accessories, while also developing womenswear. Luxury groups have been hit by tighter consumer spending and a'slowing in demand for fashion and accessories, particularly in the U.S. Risks due to SURGING OIL Prices Grieder, when asked about the conflict in?Middle East's impact on the company, told reporters the company had not yet seen any. He said, "If they do, we will adapt our business according to the new circumstances." The escalating Middle East conflict has sent global markets into a tailspin and significantly dampened investor's economic optimism. Investors are worried that the conflict could cause an oil price spike, which would increase inflation and delay interest rate reductions.
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Gabon's indecisive push for IMF loans leads to regional return to Fund
After a coup and a controversial election, Gabon has had four different finance ministers in the last three years. It is now turning to the International Monetary Fund for help to 'put its fiscal house back in order. The Central African OPEC member's financial stability could be improved by its push for an IMF Loan, which is a requirement to unlock investor cash and international funding. This will likely also have significant consequences for its cash-strapped neighbours in the region. Investors and rating agencies may view the IMF program as 'crucial', but concerns over Gabon's transparency in debt and its willingness to implement tough reforms has led to skepticism. Jose Mantero is a sovereign analyst with Fitch Ratings. "A number of significant obstacles remain including the government's aggressive fiscal policy and the possibility of radical, unpopular reforms which would be politically challenging under the current conditions." The Fund concluded a 10-day trip to Gabon on Friday. It was its first visit since the government announced it wanted an IMF Loan after toying around with the idea for more than a year. The IMF concluded the visit by saying that talks will continue and adding that prudent policies are critical to safeguarding stability in Gabon as well as the wider region. The first time since a number of nations in Central African Economic and Monetary Community, (CEMAC), signaled that they would also seek IMF assistance. This was due to a regional funding crisis which has left nations with low ratings with few financing options. GABON'S DISCREET RECORD AND DATA CONCERNS COMPLICATE IMF PUSH Gabon's economy has been impacted by years of political instabilities, resulting in a financial crunch. Reserves have also decreased. The Finance Ministry said that the IMF visit was part of the government's desire to improve transparency, budget rigidity, and sustainability of public finance. The government still has not made a formal request for a new program to the IMF. Gabon may have to face a difficult time attracting the Fund due to its inconsistent track record and concerns about transparency. The IMF says that its last programme, a three-year facility which was approved in 2021, "veered off track" only a year after. Open Data Inventory, a non-profit organization that assesses the transparency of official statistics in a country, places Gabon at 171st place out of 198. The lack of data is the biggest challenge facing Gabon, said Carmen Altenkirch. She is an emerging markets sovereign analyst with Aviva Investors. It is difficult to determine how much fiscal adjustment Gabon will need, such as spending cuts, revenue increase, or both. "We are still concerned about the size of the fiscal expenditure in 2025 and the level of the public debt," said Yvette Baby, a William Blair portfolio manager. Babb says that because of the fog, it is unlikely that a deal will be reached until later in the year. The data available is worrying. Fitch Ratings warned last year that a large fiscal deficit in 2026's budget would make it difficult to obtain an IMF loan. GABON PRESSED TO CLEAN UP IT'S ACT, REGION UNDER STRIKE The efforts of Gabon to get back in the good graces of IMF matters beyond its borders. Civil unrest erupted in Cameroon last year, the largest economy of the CEMAC bloc, after a controversial election gave 93-year old President Paul Biya his eighth term. The region is plagued by security issues, including the Chad, Republic of Congo and Equatorial Guinea. Fitch Ratings stated that Gabon has a "increasingly relied on the CEMAC Market" for borrowing. However, the serious liquidity crisis in the region will make it difficult to find new funding. Daniel Lebetkin is the Africa Debt Finance Director at Citi. The international markets are also costly for Gabon, and other CEMAC nations like Republic of Congo. Both have debt ratios above the critical threshold of 70% of GDP. In November, Republic of Congo raised 670 million dollars in a private placing priced at a reoffer rate of 13.7%. This is above what many analysts consider sustainable. Cameroon, and the Republic of Congo, regularly ask investors to provide financing through private placements. Thys Louw, a Portfolio Manager with Ninety One's emerging markets fixed income group, confirmed this. He said that the only way to save the region was for everyone to be on IMF programs. Oil producers benefit from recent oil price spikes. The war in the Middle East is to blame for this. Investors said that despite the lack of funding options, debt repayments are looming and this is putting pressure on Gabon. Babb, William Blair's advisor on Africa, said: "It is a game changer because there are regional pressures on the government of (Gabon) to comply and do what it says."
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Australia's Lynas revamps a deal to supply rare Earths to Japan
Australia's Lynas Rare ?Earths has revamped its supply agreement with ?Japan Australia Rare Earths, securing a firm annual commitment ?for 5,000 tonnes of ?neodymium-praseodymium, a key ?rare-earth magnet ?material. Japan Australia Rare Earths has committed to buying half of Lynas' total heavy rare Earth production. JARE, a joint venture between the state-run Japan Organization?for Metals and Energy Security and Sojitz Corp., has provided Lynas A$200,000,000?in order to increase production of heavy and light rare earth materials. CEO Amanda Lacaze said the deal would provide Japan's industry with "reliable" supplies of rare earth products. The agreement keeps Lynas’ total capacity of up to 7,200 tonne per year until 2038. However, it locks in the $110 per kilogram price floor for a 5,000 tonne commitment. JARE? gets 30% of any increase in price above $150 per kilogram, capped at $10,000,000 per year. Lynas said in a press release that "Sales over this minimum volume are subject to a'mutual agreement' and will not result in any loss of opportunity for the company." The magnets that are made of rare earths are used in a small but 'critical amount across a wide range of devices, from iPhones and washing machines to F-35 aircraft, and power everything, from EVs and military systems, to EVs. The deal is a good one, as it comes at a time that Washington has been trying to secure "critical minerals" and reduce its reliance on China which produces 90% of rare earth magnets in the world. (Reporting by Kumar Tanishk in Bengaluru; Editing by Mrigank Dhaniwala)
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Aluminum prices fall as Trump's Iran War remarks cool supply fears
Aluminum prices fell on 'Tuesday as profit-taking impacted the market. Donald Trump's promise to end a Middle East conflict quickly eased supply concerns. After hitting its highest level since January 30, at 25,860 Yuan per metric tonne, the most traded aluminium contract on the Shanghai Futures Exchange has pared earlier losses and closed daytime trade at 24,835 Yuan ($3,611.42). The benchmark three-month aluminum on the London?Metal Exchange dropped 0.78% at $3,359 a ton as of 0744 GMT. On Monday, the contract reached its highest level since March 2022. It was $3,544 per ton. Trump said on Monday that he expected a quick resolution to the Middle East conflict and warned that he would escalate his war against Iran if Tehran attempted to block oil shipments in the region. The drop in (aluminum) prices was mainly caused by Trump's announcement to end the conflict, said a Chinese businessman under condition of anonymity because he wasn't authorized to speak to media. The U.S. and Israel war against Iran effectively closed the Strait of Hormuz. This disrupted shipments from Gulf countries that account for around 9 percent of global aluminum supply. Supply fears arose, and prices soared over the last week. Analysts at ING said that despite the fact that aluminum is one of most vulnerable metals in a region where prices are susceptible to a new upward trend, it remains vulnerable to any further supply shock. SHFE copper gained 1.66% amid falling imported in the first two months of the year. Nickel climbed by 0.72%. Tin rose by 3.83%. Zinc added?0.31%. Lead fell 0.51%. $1 = 6.8768 Chinese yuan $1 = 6.8768 Chinese Yuan (Reporting and editing by Amy Lv, Lewis Jackson and RashmiAich).
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India's ESG and returns attract global investors
According to fund managers who spoke at the Indian Venture and Alternate Capital Association's conclave held in Mumbai, India has a'maturing market where foreign investors who consider environmental, social and government (ESG) issues are confident about dedicating more of their portfolio. They cite India’s size, the improving outlook for returns and the advancement of ESG standards as the key differentiators. Since 2010, India's SEBI, the market regulator, has expanded the scope of ESG-related regulations. The detailed Business and Sustainability Reports are now mandatory for India's top 1,000 listed companies. Ralph Keitel of responsAbility Investment in Zurich, who spoke at the conclave, said that "India has clearly earned its space" when it comes to allocations by global investors. Keitel stated that "Fifteen or?20 years back, India was a great place, but the returns were slower." He also sees the case for India as being stronger in the near future. Investors said that the appeal of the country is based on its relative strength at a moment when global allocations across China, United States and other emerging markets are being reassessed. According to the International Monetary Fund, India's economy will grow by 6.5% during fiscal years 2024-25 as well as 2025-26. Neha Grover is the South Asia Lead for Private Equity for IFC. She said that ESG impact - having a positive impact on communities - adds value. Grover said that India is one of the best emerging markets for exits. This is supported by a growing IPO pipeline. Keitel, from ResponsAbility Investments, also mentioned climate-related business opportunities as an area of'special interest'. He cited sectors like solar panels and mobility. He added that as incomes increase, environmental pressures intensify. (Writing by Urvi Dugar and Abinaya Vijayaraghavan in Bengaluru; Editing by Ronojoy Mazumdar)
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Hot metal production and demand from China are increasing.
Iron ore futures reversed previous losses on Tuesday. This was due to a?anticipated increase in hot metal production as construction activity resumes?in China and spurs demand for feedstock. The May contract for iron ore on China's Dalian Commodity Exchange traded 0.26% higher, at 784 Yuan ($113.95). As of 0715 GMT, the benchmark April iron ore traded on Singapore Exchange was up 0.76% at $103.85 per ton. After March 11, the government will lift production restrictions for the duration of the annual parliamentary session, which is expected to lead to an increase in demand for steelmaking raw materials. Steel demand typically increases in March, as construction resumes amid warmer temperatures. Customs data released on Tuesday showed that China's imports of iron ore grew by 10% in the first two month of 2026, compared to a year earlier. This was due to a stronger export from Australia, whose major supplier, and boosted domestic demand. During the same time period, hot metal production increased by 1.2% compared to a year ago, while steel exports decreased by 8.1%. According to Mysteel, the amount of iron ore that arrived at 47 Chinese ports increased between?March 2-8. Due to disruptions on the 'Strait of Hormuz,' iron ore destined for Middle East is being diverted to China. Iron ore shipments to Australia and Brazil, two of the world's largest iron ore producers, also declined week-on-week between March 2-8. This could limit further price declines. Coking coal and coke, two other steelmaking ingredients, also lost ground on the DCE. A report by Guoyuan?Research stated that coking coal and coke closely follow energy prices and have therefore risen and fell in tandem with crude oil. Steel benchmarks at the 'Shanghai Futures Exchange' mostly fell. Rebar fell 0.42%, while hot-rolled coils retreated by 0.18%. Wire rod also dropped 1.91%. Meanwhile, stainless steel grew by 0.82%.
Multilateral development banks are stepping into environment breach- EBRD President
Multilateral development banks are putting far more focus on investments to take on environment change, the president of the European Bank for Restoration and Development stated today, amidst worries about U.S. environment policy under a Trump administration.
MDBs are truly stepping up the number and the action in their level of financial investment in the green sector, Odile Renaud-Basso told Reuters late on Tuesday as voting in the U.S. was underway.
President-elect Donald Trump has called environment change a. hoax and said he prepares to withdraw the U.S. from the landmark. 2015 Paris climate agreement.
Renaud-Basso will sign up with policy makers from around the world. next week in Azerbaijan for the UN Environment Conference COP29,. with Europe and China under pressure to lead global. development on curbing planetary warming.
She said the EBRD prepared to deliver billions of dollars to. help poor nations spend for the impacts of environment change.
In 2023, the EBRD made $7.5 billion of environment finance. dedications, bring in $26.7 billion of economic sector. investment, information shows. The International Energy Firm. quotes that an overall of $2 trillion in global financial investment in. clean energy and infrastructure will be made this year.
The EBRD has helped host Azerbaijan green its energy sector. and likewise approved two solar tasks anticipated to produce a. combined total of 750 megawatts of energy at $666 million.
Trump has actually likewise vowed to raise tariffs on goods from China,. the EU and elsewhere, raising fears of a cycle of tit-for-tat. trade procedures around the world
Renaud-Basso stated an increase in trade tariffs would strike. development in emerging markets.
An increase of stress, a ... trade war with procedures and. countermeasures worldwide, will never ever benefit the world, for. the development of the economy and for our region, which is dependent. on the dynamic of growth in the EU or in China, she said.
The effect will be rather crucial.
The multilateral loan provider, which operates in emerging Europe,. central Asia, the Middle East and Africa, currently revised its. local growth anticipated lower for a second straight time in. October.
Inquired about Turkey's pivot to a more orthodox monetary and. fiscal policy because June in 2015, Renaud-Basso said it was. important policy makers stay with their reform course.
Ankara has reduced financial imbalances with sharp main. bank rate hikes and tax walkings among other fiscal steps.
You can discuss the course and the balance between monetary. and fiscal policy, and whether fiscal policy ought to be tighter,. she said. But what is in my view very crucial is the. steadiness and the truth that they keep track.
(source: Reuters)