Latest News
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Gold prices rise as US tariffs and shutdown uncertainty boost demand
Gold prices rose on Thursday due to a weaker US dollar, a renewed demand for safe-haven assets and concerns about a long U.S. shutdown as well as uncertainty regarding tariffs. By 1:40 pm, spot gold had risen 0.2% to $3,989.91 an ounce. ET (1840 GMT). U.S. Gold Futures for December Delivery settled at $3.991 with little change. Dollar fell by 0.5%, after reaching a four-month peak in the previous session. This made gold more affordable for foreign buyers. 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 President Donald Trump's sweeping Tariffs are causing a "revival of the haven bid". "Gold is on track to have a decent end to the year. I would say that a target of $4,300-$4,400/oz seems reasonable." Markets expect another rate cut in December, after the U.S. Federal Reserve lowered interest rates last week for the second consecutive time this year. Beth Hammack, President of the Fed Bank of Cleveland, said that on Thursday high inflation rates continue to be a concern. The following are some examples of the use of The U.S. Central Bank has cut interest rates once again. 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. Traders are cautious and watching out for the fallout of U.S. president Donald Trump's policies on trade as well as risks associated with a prolonged U.S. shutdown. 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. Other than that, silver spot rose 0.3%, to $48.22 an ounce. Platinum was down 1.8%, at $1,533.93, while palladium dropped 2.7%, to $1,381.18. (Reporting from Noel John in Bengaluru and Pablo Sinha, with additional reporting by Kavya Baliaraman. Editing by Sahal Muhammad and Tasimzahid.
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Norway invests about $3 billion into forest conservation fund
The Norwegian government announced on Thursday that it would contribute around $3 billion to the Tropical Forests Forever Facility. This multilateral fund is intended to support the global conservation of endangered forest. The largest donation announced to date for the new fund proposed in Brazil by the summit's host is this first-reported gift. In a statement, the Norwegian government confirmed that it will contribute up to 30 billion crowns (2.99 billion dollars) to the fund by 2035. The fund aims to use contributions from government to raise more private funding. Brazil and Indonesia each contributed $1 billion to the fund. Fernando Haddad, the Brazilian Finance Minister, said that he believes $10 billion in public money is an ambitious but achievable target for the first year of the fund. The TFFF is envisioned by policymakers as a $125 billion fund that combines contributions from the private and sovereign sectors. It would be administered like an endowment. Countries would receive annual stipends based upon how much of their rainforests remain standing.
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What are the world leaders saying in Brazil at the climate summit?
Brazil will host world leaders at a summit in Belem, a rainforest city, on Thursday before the COP30 Climate Conference. What the leaders have to say U.N. SECRETAIRE-GENERAL ANTONIO GUTERRES We can either choose to lead or we can be led into ruin. "Too many companies are making record profits by destroying the climate, while spending billions on lobbying and deceiving public opinion and obstructing advancement. And too many leaders continue to be captives of these entrenched interest." BRAZILIAN PRESIDENT LUIZ INACIO LULA DA SILVA We need a road map to plan an equitable way to undo the deforestation and overcome fossil fuels, as well as mobilize resources to achieve these goals. "Extremists invent lies to gain electoral advantage and imprison the future generation in an old model that perpetuates economic and social disparities, and environmental degradation." CHINA VICE-PRESIDENT DING XUEXIANG VIA TRANSLATOR "It's imperative that all parties uphold true multilateralism and strengthen coordination and solidarity in order to make sustainable progress on global climate governance. We need to improve international collaboration in green technology and the industry. Remove trade barriers, and allow the free flow quality green products. BRITAIN'S PRINCE WILLIAM "We are gathered here, in the Amazon, at a pivotal time in human history. A moment that requires courage, cooperation, and an unwavering commitment for the future of our planet, one that does not belong to us but to our grandchildren and children. We all know that we are dangerously close to Earth's tipping points. Beyond these thresholds, the natural systems on which we depend may start to unravel. TRANSLATOR: CHILE'S President GABRIEL BORIC "These are the times when voices are rising to deny or ignore the scientific evidence about the climate crisis. "The President said that the climate crisis does not exist at the U.N. "The President of the United States at the last U.N. ESWATINI PRIME MINISTER DLAMINI RUSSELL Collaboration is vital. We must actually go beyond just collaboration and increase our ambition, aligning ourselves with scientifically-determined emission reduction targets. "For Africa, this struggle isn't about environmental policy. It's about justice and survival. Africa is responsible for less than 4% global greenhouse gas emissions. "Yet we suffer the most severe consequences." IRISH PRIME MINISTER MICHEAL MARTIN Belem has fewer people. "At a moment when leadership in politics is more important than ever, we are fewer. Fewer leaders willing to say it like it is. Climate change is irrefutable. Science is unquestionable. The clock is ticking, temperatures are rising. We are failing our citizens and the planet in a profound way if we don't tell them the truth. (Reporting and editing by Nia Williams; William James)
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Sudan's RSF accepts US proposal for humanitarian cessation of fire
The Sudanese paramilitary Rapid Support Forces have agreed to the United States' and Arab countries' proposal for a humanitarian truce and are open to discussions on a cessation in hostilities. Both the RSF and the Sudanese army have agreed to various ceasefire proposals during their two-and-a-half-year-old war, though none have succeeded. The administration of U.S. president Donald Trump has stated that it is working to end fighting in Sudan. The Sudanese Army did not respond immediately to the announcement. It comes less than two week after the RSF had taken over the famine-stricken town of al-Fashir and consolidated its control of the vast western region of Darfur. The Rapid Support Forces (RSF) also look forward to implementing this agreement and starting discussions immediately on arrangements for the cessation and the basic principles that guide the political process in Sudan." An RSF statement stated. The army-led Security and Defense Council held a meeting earlier this week but failed to give a definitive response to the proposal. However, influential leaders and allies in the army expressed their disapproval. A spokesperson for the U.S. State Department said on Thursday that the United States continue to work directly with all parties to facilitate an humanitarian truce. The spokesperson stated that "we urge both sides to respond to the U.S. led effort to conclude an humanitarian truce given the urgency to de-escalate the violence and end the suffering of Sudanese citizens." In September, Saudi Arabia and the United Arab Emirates, as well as Egypt, called for a three month humanitarian truce to be followed up by a permanent ceasefire in Sudan. Witnesses claim that the RSF abducted and killed civilians both during and after their capture of al-Fashir. This includes summary executions. The leader of the group called for all fighters to protect civilians, and warned that any violations will be prosecuted. In April 2023, the war between the Sudanese Army and the RSF broke out when the forces clashed about plans to integrate forces. The conflict in Sudan has caused a devastation that has killed tens and thousands of people. Hunger has spread throughout the country, and millions have been displaced. Reporting by Khalid Abdelaziz, Nafisa eltahir and Daphne Psaledakis; Additional reporting in Washington by Enas alashray; Editing and writing by Alex Richardson; Aidan Lewis; and Diane Craft
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Report: Power supply issues slow EMEA data center rollout
A Savills report found that data centre capacity growth in Europe, the Middle East, and Africa has slowed since 2025 compared to last year's same period, despite a surge in demand. This is due to a lack available power, which delays project timelines. Since ChatGPT's release in late 2022 the global data centre demand has risen and projects are being planned. Investors and governments have bet that generative artificial intelligent will revolutionise how we all work and live. The demand for electricity to power these centres has increased. Savills, a global provider of real estate services, reported that since January, new data centres have added 850 megawatts of power, which is 11% less than the same period in 2024. Megawatts are the main metric for sizing a data centre. This is the maximum power that a data center can provide to its servers, cooling systems and other infrastructure. Savills reported that overall data centre capacity has increased by 12% to 11,400 MW, from 10,140MW a year ago. The report stated that the decline in power delivered year-to date is largely due to persistent energy supply constraints which have delayed projects, and not because of a decrease in demand for data centers. Savills stated that the demand for these centres continues to surge, resulting in an imbalance and a restricted supply of power. The actual amount of new capacity that was occupied fell to just 845 megawatts. This is only half the power capacity leased by 2024. The figures include also pre-lets, which are leases for future data centers. The total contracted power capacity, which includes both the live and future contracted capacity, grew by 12% on an annual basis to 14,500MW. This shows a strong under-demand. In the third quarter 2025, 91% all data center capacity was leased. This is up from 87% during the same quarter in 2022. This also reflects a strong demand. (Reporting and editing by Amanda Cooper, Emelia Sithole Matarise and Lucy Raitano)
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Sterling rises as BoE rates remain unchanged, but stocks drop due to tech shares
The major stock indexes dropped sharply Thursday. Consumer discretionary and technology shares led the losses in the S&P 500. Meanwhile, the British pound strengthened after the Bank of England decided against a rate cut. The shares of U.S.-based chipmaker Qualcomm fell more than 4% following Warning Samsung's future gadgets may not have as many chips as they used to. Shares Legrand's stock dropped after the French data center equipment company reported sales growth in the first nine month of the year of 11.9%, which was slightly below expectations and hit by U.S. Tariffs. The last change in the sterling was 0.37%, at $1.3097. The BoE Monetary Policy Committee, in anticipation of possible tax increases in UK Chancellor Rachel Reeves budget due later this month (later this month), voted by 5 to 4 to maintain the Bank Rate benchmark at 4.0%. The vote was close, but expectations of a reduction before the end of the year were not affected. Investors on Wall Street continue to focus their attention on the U.S. shutdown, the trade tariff rulings and the slew corporate earnings. This earnings season will not be defined by the past. "The market is looking for guidance, and with tariffs, shutdown, and possible peak AI (artificial Intelligence), the future may be bleak," stated Jake Dollarhide. He is the chief executive officer at Longbow Asset Management, located in Tulsa. Some U.S. Bank Chief Executives spoke out against the proposed tax on financial services. You can also read about the warnings below. What to expect from a possible market decline. Investors digested a Challenger, Gray & Christmas report that revealed employers in the United States cut more than 150.000 jobs in October, marking this month's largest reduction in over 20 years. Investors have been attracted to private economic data in the absence of official statistics during the longest government shutdown ever experienced by the United States. The Dow Jones Industrial Average dropped 373.08 or 0.79% to 46,937.92. The S&P 500 fell 63.56 or 0.94% to 6,732.73, and the Nasdaq Composite declined 363.84 or 1.56% to 23,135.95. The MSCI index of global stocks fell by 4.87 points or 0.49% to 903.02. The STOXX 600 Index fell by 0.73%. Overnight, Japan's Nikkei rebounded 1.4% after sliding 2.5% on Wednesday. Shanghai's benchmark index, which is a psychologically significant level of 4,000, regained the level after optimism about tech self-sufficiency drove its semiconductor and AI related shares. The dollar dropped after weak U.S. employment data raised market expectations that the Federal Reserve would cut rates again this year. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen, the euro and others) fell by 0.28%, while the euro rose 0.36%, reaching $1.1532. The dollar fell 0.64% against the yen to 153.12. After the BoE's decision, yields on euro zone benchmark Bunds fell from their previous four-week high. Germany's 10-year bond yields are down by 2 basis points at 2.65%, after reaching 2.676% in the early session. This is the highest level seen since October 10. Investors are concerned about the U.S. labor market, and the uncertainty caused by the government shutdown. The yield on the benchmark 10-year U.S. note fell by 6.4 basis points, to 4.093% from 4.157% at late Wednesday. U.S. crude fell 0.69% to $59.18 per barrel while Brent dropped to $63.19 a barrel, down by 0.52% for the day.
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ArcelorMittal CFO: ArcelorMittal is ready to capture EU Market Share from Lower Steel Imports
ArcelorMittal can capture a part of the market void caused by lower imports, once the EU steel quotas are implemented. This was the Chief Financial Officer GenuinoChristino's statement on Thursday. Christino told analysts that he did not see any problem in capturing that portion of the market. In October, the European Commission proposed a reduction of almost half in tariff-free import quotas for steel and a 50% tax on excess shipments. This was done to maintain viable steelmaking within the European Union. However, it is not yet clear when these new measures will be implemented. Christino stated that the current measures will expire on June 20, 2026. ArcelorMittal, however, expects that the European Parliament and Council recognize the "urgency of the issue" and assist in implementing it as quickly as possible. The second-largest steelmaker in the world reported an improved third-quarter profit on Thursday, helped by a solid performance in Europe. It also gave a positive outlook to 2026.
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What are the world leaders saying in Brazil at the climate summit?
Brazil will host world leaders at a summit in Belem, a rainforest city, on Thursday before the COP30 Climate Conference. What the leaders have to say U.N. SECRETAIRE-GENERAL ANTONIO GUTERRES We can either choose to lead or we can be led into ruin. "Too many companies are making record profits by destroying the climate, while spending billions on lobbying and deceiving public opinion and obstructing advancement. And too many leaders continue to be captive to these entrenched interest." BRAZILIAN PRESIDENT LUIZ INACIO LULA DA SILVA We need a road map to plan an equitable way to undo the deforestation and overcome fossil fuels, as well as mobilize resources to achieve these goals. "Extremists invent lies to gain electoral advantage and imprison the future generation in a model that is outdated and perpetuates social and economical disparities, environmental degradation and other forms of injustice." CHINA VICE-PRESIDENT DING XUEXIANG VIA TRANSLATOR "It's imperative that all parties uphold true multilateralism and strengthen coordination and solidarity in order to make sustainable progress on global climate governance. We need to improve international collaboration in green technology and the industry. Remove trade barriers, and allow the free flow quality green products. BRITAIN'S PRINCE WILLIAM "We are gathered here, in the Amazon, at a pivotal time in human history. A moment that requires courage, cooperation, and an unwavering commitment for the future of our planet, one that does not belong to us but to our grandchildren and children. We all know that we are dangerously close to Earth's tipping points. Beyond these thresholds, the natural systems on which we depend may start to unravel. TRANSLATOR: CHILE'S President GABRIEL BORIC "Now is the time when voices are raising that decide to ignore or deny scientific evidence about the climate crisis. "The President said that the climate crisis does not exist at the U.N. "The President of the United States at the last U.N.
How business are reacting to attacks on ships in the Red Sea
Companies are responding to disturbances to shipping on the shortest path between Europe and Asia.
Attacks in the Red Sea region by Houthi militants in Yemen have actually triggered a number of shipping business to reroute vessels.
Below are details on how business in different sectors are reacting:
VEHICLES
** GEELY: China's second-largest car manufacturer by sales, stated on Dec. 22 its electric automobile (EV) sales would likely be impacted by a hold-up in shipments.
** MICHELIN: the French tire maker said on Feb. 12 logistics problems connected to the Red Sea crisis weighed on its completed product flows, generally natural rubber, however that this would have a fairly marginal result on 2024 results.
** SUZUKI: its Hungary production plant rebooted manufacturing on Jan. 22 as prepared following a stop since Jan. 15 due to hold-ups in the arrival of Japanese-made engines.
** TESLA: the U.S. EV maker suspended most cars and truck production at its factory near Berlin from Jan. 29 to Feb. 11 due to an absence of components caused by shifts in transportation routes.
** VOLVO VEHICLE: the Swedish car manufacturer on Jan. 12 halted production at its Belgian plant for three days due to hold-ups.
ENERGY
** BP: the oil significant on Dec. 18 said it had temporarily stopped briefly all transits through the Red Sea.
** EQUINOR: it stated on Dec. 18 it had rerouted vessels that had been heading towards the Red Sea.
** EDISON: the energy group's CEO said on Jan. 25 it was starting to experience a slowdown in liquefied natural gas (LNG) products from Qatar.
** QATARENERGY: The shipping disruptions will impact QatarEnergy's deliveries of melted natural gas however not its production, its CEO stated on Feb. 12.
The business, among the world's biggest exporters of LNG, had stopped sailing by means of the Red Sea mentioning security issues, a. senior source with direct knowledge of the matter told . on Jan. 15.
** SHELL: the British oil significant suspended all. shipments through the Red Sea indefinitely, the Wall Street. Journal reported on Jan. 16. Shell decreased to comment.
Its CFO stated on Feb. 1 he was making daily decisions on. delivering through the Red Sea.
** TOTALENERGIES: the French energy and petroleum. company stated on Feb. 7 it has actually not sent out ships through the area. for a number of weeks. Its CEO stated the expenses of going through the. Red Sea have actually gone up, partly due to higher insurance coverage costs.
** VALERO ENERGY: the U.S. refiner stated on Jan. 25. the Red Sea attacks have resulted in an increase in freight rates for. petroleum.
LOGISTICS
** DHL: the German logistic business, which does. not operate ships however utilizes them to carry containers, on Jan. 8 advised clients to take a close take a look at how they handle. stocks.
** FEDEX: the U.S. parcel shipment giant stated on. Jan. 14 it had not seen much of a shift to air cargo due to. disruptions in the Red Sea.
RETAILERS
** ADIDAS: CEO said on Feb. 1 that shipping. disturbances in the Red Sea were negative for gross margins,. including that blowing up freight rates were driving up costs and. shipping hold-ups were causing some delivery concerns.
** DANONE: the French food group stated in December. that most of its deliveries had actually been diverted, increasing transit. times. Must the scenario last beyond 2-3 months, Danone will. activate mitigation plans, including utilizing alternate routes, its. representative said.
** H&M: the world's second-biggest noted fashion. seller postponed the start of some Spring/Summer campaigns to. adapt to shipping delays triggered by the Red Sea crisis, its CEO. Daniel Erver stated on March 27.
Erver told the company had actually asked suppliers to ship. items earlier than usual and was speeding up strategies to shift. production closer to customers.
** IKEA: the furniture retailer is adhering to planned rate. cuts regardless of increased expenses, and has adequate stocks to. take in any supply chain shocks, it said on Jan. 15.
** MARKS & & SPENCER: the British merchant's CEO stated. on Jan. 11 the business is expecting some slight hold-up in. clothing and home deliveries from disruption to shipping.
** NEXT: the British clothing seller's CEO on Jan. 4 stated sales growth would likely be moderated if disturbances. continued through 2024.
** PEPCO: the Poundland owner cautioned on Jan. 18. its supply could be affected in coming months if disturbances. continue.
** PRIMARK: Associated British Foods' financing. director stated on Jan. 23 Primark is managing disturbances by. changing timings and stock flow.
** SAINSBURY'S: We're making sure that we plan the. sequencing of item from Asia Pacific so that we get products. in the best order, the business's CEO stated on Jan. 10, including. that long term agreements with carriers reduce any cost impact. as far as possible.
** TARGET: the U.S. seller is experiencing some. disturbances of shipments from India and Pakistan, a source. acquainted with the matter said on Jan. 12, calling the impact. small overall.
** TRACTOR SUPPLY: shipments for the U.S. seller. have been delayed anywhere from 2 to 20-plus days, the. company's chief supply chain operator stated on Jan. 12.
** WILLIAMS-SONOMA: the Pottery Barn owner is. rerouting shipments and has been dealing with contingency plans,. its CEO informed CNBC on Jan. 24.
OTHER
** AKZO NOBEL: the Dutch paints and finishings. maker's CFO said on Feb. 7 that longer supply lines and. increasing costs could affect the business, which sources its raw. products from China.
For us it's a working capital effect, but it's manageable,. he added.
** BHP GROUP: the Australian mining giant on Jan. 25 stated the disruptions were forcing some of its freight service. service providers to take alternative paths, such as Africa's Cape of. Excellent Hope.
** BID CORPORATION the South African food services. business is stocking buffer stock to help offset shipping. delays, its CEO stated on Feb. 21.
** BRENNTAG: the German chemicals distributor's. CEO stated on March 7 the Red Sea crisis had actually resulted in shipment times. of an extra two-to-three weeks for the company's containers, as. well as higher expenses.
** ELECTROLUX: the Swedish home appliance maker. has actually established a job force to discover alternative paths or recognize. top priority shipments to try to avoid interruptions.
On Feb. 2 its CEO stated that expenses connected to the. developments in the Red Sea were workable. If the situation. is extended I am more worried about greater expenses than about. risk of needing to pause production, he added.
** ESSITY: the maker of brands such as Libresse. and TENA said it was staying in contact with impacted suppliers. to make sure ongoing flow of items. On Jan. 25 its CEO stated that. it saw a negative impact on its freight expenses however he could not. define what that effect would total up to.
** EVONIK: the speciality chemicals maker stated it. was being hit by short notification routing modifications and delays, and. was attempting to mitigate the impact by ordering earlier and. changing to air cargo where possible.
** GECHEM GMBH & & CO KG: the German chemicals maker stated it. had actually reduced production of dishwasher and toilet tablets as a. outcome of the hold-ups.
** KONE: the Finnish elevator maker said the. situation might sometimes delay shipments, however most of its. client deliveries need to stay on schedule. Kone said it had. gotten ready for the disruptions by seeking alternative shipment. methods and paths.
** LEVI STRAUSS & & CO: the jeans maker is. experiencing delays of 10 to 14 days in transit times as a. result of continued disturbances to Red Sea shipping. It has. moved some U.S. shipments to the West Coast, avoiding the Red. Sea and Suez Canal.
** LOGITECH: the computer peripheral maker's CEO on. Jan. 23 stated revenue margins will be hit by greater transport. expenses due to the Red Sea crisis.
(source: Reuters)