Latest News
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Lidl to invest $6.5 billion in northern Germany data center by 2033
Schwarz Group of Germany, the owner of discount retailer Lidl, announced on Thursday that it would invest up to EUR5.6 billion ($6.5billion) on a data centre in northern Germany. This comes amid an effort by European countries, including Germany, to reduce their dependence on foreign providers of cloud-based AI and cloud services. The construction of the complex, near Rostock, is set to start in 2027. The German supermarket conglomerate announced that by 2033 the data centre in the state of Mecklenburg - Western Pomerania would have a capacity equivalent to 'average energy consumption for 600,000 homes. The plans include the use of only renewable energy in normal operation, and a closed loop water cooling system that limits water consumption. Schwesig said that talks are also underway with Rostock about?using excess heat to residential heating. Schwesig stated that the project addresses German politicians' concerns about cybersecurity risks and dependence on providers in the United States as well as other overseas countries. We must not miss this opportunity to do things our way in Germany. Mecklenburg/Western Pomerania will vote in a state-wide election on September, and incumbent Premier Schwesig is facing a challenge by the far-right Alternative for Germany.
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As U.S. farm sales loom, heat and floods threaten China's crops
Since mid-July high temperatures and heavy rainfall have ravaged China's main?corn-, soybean- and cotton-growing areas, threatening crop yields and quality, which could increase?imports, including of cotton and feed grains, from the United States. The White House announced that China has agreed to purchase $17 billion worth of U.S. agriculture goods each year, excluding soya beans, as part of a truce in the trade war. Beijing, however, has not made 'the?large-scale purchases of non-soybeans expected after a May meeting between the leaders of both countries, while markets await news about tariff reductions. Analysts and traders said that if weather damage reduced output or quality then China may increase its imports of corn sorghum, and cotton. This could bring U.S. supplies to the forefront. In spite of a record harvest in the autumn of last year, adverse weather conditions damaged the crop quality, leading Chinese buyers to purchase more corn and substitute feed grains such as barley and sorghum. Five analysts say that heatwaves and flooding have affected China's major corn and soybean areas in the north and northeast, causing corn losses and lower outputs of soybeans. However, higher corn acreage is expected to keep the national production stable. Cotton yields in northwestern Xinjiang are expected to be affected by prolonged heat and scant rainfall. This region is responsible for more than 90% China's cotton production and also has become a major corn-growing area. Between mid-July and late August, temperatures were equal to or higher than historical records at?50 stations. These stations are located primarily in Jilin, Liaoning and Xinjiang provinces, which are important producers of corn, soybeans and other grains. State-run CCTV reported this week that Heilongjiang in China's northeast, the province with the largest production of corn and soybeans, had also been affected by heavy rains and flooding. Henan Province, which is a major producer of summer corn and soybeans in the North China Plains, experienced extreme heat in late July. This was followed by heavy rains from Typhoon Dolphin's remnants in mid-August. Liu Jinlu is an agricultural researcher with Guoyuan Futures. He said that prolonged heat could affect the pollination of corn in the North China Plain, and flooding can be a risk to fields located in the Northeast. Darin Friedrichs of Sitonia Consulting said that while Typhoon Dolphin was likely to have a negative impact on the production in Henan it would still be less harmful than last year's heavy rains. Liu and Friedrichs both agreed that a larger corn acreage would be able to offset the localised yield loss. The China Agriculture Ministry forecasts that the area of corn in 2026/27 will be 45.13 millions hectares. This is an increase of 0.4% compared to a year ago. The quality damage may still boost the demand for imported feed grain, possibly boosting U.S. purchases. Friedrichs stated that the focus should be on corn and sorghum, which historically have been the highest dollar value exports to China other than soybeans. China imported 1,36 million tons (61,3%) of corn between January and July. Sorghum and barley were imported at a rate of 86.2% and 53%, respectively. China imported 2,98 million tons (almost four times) its 2025 full-year purchases of U.S. Sorghum. SOYBEANS Wang Wenshen is an analyst with Sublime China Information. He said that excessive rainfall in Heilongjiang had reduced soil temperatures and sunlight. This could have affected soybean quality and possibly?protein content. The agriculture ministry predicts that soybean planting areas will fall by 0.6% to 10,19?million ha this year, as farmers switch to corn, which is more profitable. Imports of GM soybeans will likely have a limited impact because non-GMO beans grown in the United States are mainly used as food while imported GM beans?are primarily crushed for animal feed. COTTON The agriculture ministry's August 12 outlook stated that the persistent heat and limited rain in?Xinjiang has reduced the average number cotton bolls for each plant?and increased the risk of yield loss in some drought-affected fields. China imported 1,02 million tons in the first 7 months of 2026. This is almost equal to total imports for 2025. The U.S. cotton imports accounted for 114,494, which is the same as China's total 2025 purchases. However, they only accounted for 13% of 2024.
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Zinc's rally of six days ends as stocks rise and ease shortage
Zinc prices fell Thursday, as rising inventories eased concerns over supply shortages outside China. This ended a six session rally during which speculative purchases pushed the metal up to its highest level in four years. By 1002 GMT, the benchmark three-month Zinc on London Metal Exchange had fallen 1% to $3,855 per metric tonne. On Wednesday, the contract reached $3,949.5 - its highest level since June 2022. The daily LME data revealed that zinc stocks reached a three-week high after 1,100 tonnes of new inflows into the LME registered warehouses in Singapore and Hong Kong. Analysts anticipate more inventory to be added, mainly in China, due to the increase in the premium of the LME Cash Zinc contract over the benchmark. The price of finished coal on Wednesday was $199 per ton, the highest since December. Three months earlier, it had been discounted by $25. According to an industry group, the dwindling supply is a further cause for concern. The global market for?refined?zinc was in surplus of 120,000 tons in the first half 2026, with reported inventories rising by 92,000 tonnes. The growth of China drove the 1.3% increase in refined production, while consumption increased by 0.6%. Other LME metals saw a?0.5% loss to $14,177.50 per ton as traders waited for Federal Reserve Chair Kevin Warsh to speak on Friday to get more?clues? on the direction of U.S. rates. Metal is down for the second session, after closing at a record of $14349.5 on February and reaching the highest level since January, $14437, on Wednesday amid concerns about tight inventory outside the U.S. "Copper's recent?record-high triggered profit taking rather than follow-through purchasing, possibly indicating that the prices have rallied to their limit for now," said Ole Hansen, head?of commodity strategy at Saxo Bank. LME aluminium dropped 0.7% to $3.204, while lead fell 0.5% to $900, tin fell 0.2% to $54,655, and nickel declined 0.5% to $15,795. (Reporting and editing by Mrigank Dahaniwala; Additional reporting by Solomon Cefai)
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The deadliest glacier catastrophes in the world
Authorities fear that more people will be killed by a flash flood caused by a glacial collapse in the Himalayan border areas of Nepal and adjacent Tibet. At least 270 people have been killed, but authorities are concerned about further casualties. These are the most deadly glacial disasters of?history. 1941 -- HUARAZ (PERU) In the northern Andes, a glacial 'lake outburst' flood inundated one-third of Huaraz. It killed an estimated 5,000. This remains one of the most deadly glacier-lake outbursts in history. 1962 -- RANRAHIRCA (PERU) Mount Huascaran in Peru is the tallest mountain. A massive block of ice separated from it, and 10 million cubic meters of snow, rock and ice slid down the mountain within seven minutes. The ice block buried Ranrahirca, and other nearby settlements, under 12 meters of mud and debris. It killed an estimated 4,000. 1970 -- YUNGAY (PERU) A magnitude 7.9 quake destabilized Mount Huascaran's northern wall, triggering the worst glacier disaster in recorded history. A mass of glacial ice, rock and debris hurled towards the towns of Yungay (208 mph) and Ranrahirca. They were buried in sludge. The avalanche is estimated to have killed 25,000 people. This adds to the overall death toll of the?earthquake, which exceeds 50,000. 1981 -- CIRENMA CO., TIBET A glacial mass that was overhanging plunged into Cirenma Co - a lake glacial 14 km away from the China/Nepal border - sending a massive wave over its moraine. Nearly 20 million cubic meters of water, debris and ice were hurled down to Nepal by the impact. According to estimates, 200 people were killed in Nepal. Damage to roads, bridges, hydropower plants, and other infrastructure was estimated at $4 million. CHAMOLI INDIA, 2021 A large chunk of ice fell from Ronti peak near Nanda Devi in India, the second highest mountain. It sent a torrent of dust, ice and rocks 1,500 metres into the valley. The flash floods in Uttarakhand, a state in northern India, killed over 200 people and destroyed villages. Two hydroelectric projects were also swept away. 2026 -- NEPAL-TIBET BORDER More than 1,000 people have gone missing in Nepal and Tibet. The lower section of the Himalayan glacier that crashed into the valley sent an avalanche down the Lhende Khola river along the mountainous border. The mudslide that slammed Gyirong Port in Tibet, and then on to Nepal, created high-speed floods which washed out entire roads and power plants and inundated villages. The police expect the death toll will rise above 270. (Reporting and editing by Hugh Lawson; Mei Mei Chu)
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Authorities say El Nino poses a risk to 1.2 million Peruvians.
El Nino, a weather phenomenon that has brought rain and an unexpected increase in temperatures to Peru could put more than 1,000,000 people in danger in areas of the country susceptible to climate change. Luis Vazquez is the head of the Civil Defense Institute in the state. He said that El Nino will intensify in November and cause flooding and mudslides across 10 different regions. Vazquez stated at a press conference that, based on the historical data of all regions affected by El Nino in the past, 1.2 million people may be affected. El Nino is most likely to affect northern provinces that are predominantly?dedicated?to agriculture. This could lead to economic losses. El Nino is a weather phenomenon that causes heavy rains and droughts in Latin America and warms up the surface of the Pacific Ocean. It has already affected Peru's agriculture and fishing. Vazquez stated that 536 "critical areas," or the most vulnerable parts of the country, had been identified. Preventive measures were being implemented. El Nino's impact will not only bring rain and floods along the coast of the country, but it could also cause droughts in the southern Andean?regions. Vazquez added that the government declared a?emergency state in?796 district due to the threat of rain and floods and in 607 district due to "water shortages." He said, "The idea is to mitigate potential damage and reduce vulnerabilities." Heavy rains linked to El Nino last week caused flooding to occur in some parts of the capital city, Lima. They also disrupted the road traffic to the south, stranding a number of passenger buses and freight trucks.
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Argentina, Chile revive cross-border mining framework for investment
Argentina and Chile want to unlock 'billions' of dollars worth of mining investment by advancing regulatory and legal frameworks which would allow 'companies to pool infrastructure and resources in the Andes Mountains. The Mining Integration and Complementation Treaty will be discussed by officials from both countries on Thursday. This 1997 agreement was revived in July following decades of slow progress. They are looking to move forward a new generation copper projects. Both the conservative Chilean president Jose Antonio Kast (who took office in March) and the libertarian Argentinean President Javier Milei are attempting to increase private investment. Chile's Mining minister Daniel Mas stated this month that the framework could unlock more than $20,7 billion in investment. It would also add 540,000 tons of copper to the annual production. Investors are attracted to Argentine projects located near the Andes because they can access Chilean ports, and take advantage of infrastructure that is linked to the largest copper producing industry in the world. This reduces costs, and shortens transport routes, and helps bring new mines on line. The Chilean Mining Ministry announced that the meeting on Thursday will be devoted to advancing the "technical evaluation" of projects which could "benefit from this treaty". The development of binational projects... creates immense opportunities for Chilean Suppliers, for the use and benefit of Chilean Infrastructure, for providing services to Argentine Industry, and for developing partnerships, said Joaquin Villarino. He is the head of Chile’s Mining Council which represents the major mining companies. Alvaro Gonzalez, Chile's Deputy Minister of Mining, said that there is no set timeline for the implementation of the measures being considered by the two governments. The mining integration seminar in Santiago, Chile is scheduled for Friday. Representatives of three projects that are likely to benefit from the new framework will be meeting. McEwen Copper’s Los Azules project in Argentina, Glencore’s El Pachon, and Vicuna - a cross border copper?project between Lundin Mining & BHP - are the three projects. Vicuna said that it planned to use desalinated ocean water, but did not specify whether it would depend on Chilean infrastructure. It also declined to comment about the government-level discussions. Los Azules has no plans to export water through Chilean ports or use desalinated waters. However, a spokesperson for the company said that the company was interested in discussions due to the proximity of the project?to the border. BHP hasn't clarified if the company plans to use the infrastructure that is already in place. Argentina, which has been heavily dependent on agricultural exports for many years, hasn't produced any?copper after the closure of the Alumbrera mine in 2018. Analysts say that a pipeline project under development could put Argentina among the top 10 copper producers in the world by 2030. It could form part of an important supply hub, along with Chile, for a critical metal to the energy transformation.
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Singapore's oil product inventory reaches highest level in three weeks
Government data released on Thursday showed that oil product inventories in Asia’s fuel trading hub, Singapore, had rebounded to three-week highs, with stocks increasing week over week. Enterprise?Singapore data showed that combined onshore inventories reached?39.18m barrels for the week?ended august 26. This was?up 4.0% compared with a week before. The markets remained attentive to Middle East discussions around the Strait of Hormuz, which transported oil and LNG equal to about one fifth of global consumption prior to the U.S./Israeli war against Iran. The RESIDUAL FUEL STOCK RETURNS TO A MASS OF 19 MILLION BARRESLS The residual fuel stockpiles rose for the?second week in a row, reaching a new three-week record of 19,24 million barrels (3.03 millions tons), an increase of 4.4% from week to week. Recent trading sessions have seen spot fuel oil premiums begin to fall as traders anticipate more arbitrage supplies. Fuel oil imports onshore have slowed down for now as there are still some cargoes on the way. The total imports dropped by 31.8%, to 509,000 tonnes, in the week ending August 26. Bahrain and Belgium were the two top suppliers. The total exports fell?6.5% compared to the previous week, to 326,000 tons. Most of the products were shipped to New Caledonia. The MIDDLE and LIGHT DISTILLATE Stocks Reach a Two-Week High Despite a drop in weekly net exports, the Middle Distillates Stockpiles (which include both jet fuel and diesel) rebounded to nearly 8.5 millions barrels, a new two-week record. The net exports for both fuels increased significantly, while the total imports fell. Net exports of diesel and gasoil rose more than 10 fold from a few weeks ago. Imports fell by nearly 100% in the same time period. Exports to Malaysia and Indonesia grew by 44%. According to multiple sources of?trade, the number of barrels that will be shipped from India in the next few weeks is expected to remain low, because arbitrage margins on markets west-of-Suez are more lucrative. Exports of jet fuel and kerosene increased 3% while imports fell 100%. Stocks of light distillates rose to over 11.5 million barrels - a new two-week record. The main countries of origin for gasoline imports during the week? were China, South Korea?and Taiwan. Naphtha was imported from Argentina?, Malaysia?and China? Exports were mainly headed for Indonesia and Malaysia. The majority of naphtha was also destined for Indonesia.
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Gulf stocks rise on hopes for renewed US-Iran diplomacy
Gulf stock markets were up in the early trade on Thursday. This was boosted by the hope that diplomatic efforts between Iran and the United States could resume after the two sides had exchanged recriminations earlier this week. Qatar's "prime minister" is scheduled to visit Tehran Thursday to try to revive diplomatic relations after Washington announced that it would increase economic pressure against Iran by targeting its trading partner with sanctions. A senior Iranian source revealed on Wednesday that Iran and Oman were finalising the details of an agreement?on control of Strait of Hormuz. Iran's Revolutionary Guards claimed that the two countries agreed to share management of the strategic waterway which connects Gulf oil producers with global markets. Dubai's main stock index rose 0.4% with the majority of its constituents. Etihad Energy increased by 2.9% while Emirates Central Cooling Systems gained?1.3%. Abu Dhabi's benchmark rose 0.3%. This was supported by an increase of 1.3% in Alpha Dhabi Holding, a conglomerate, and a rise of 1.2% in First Abu Dhabi Bank, the United Arab Emirates largest lender. Qatar's index rose 0.5%, with communication and energy stocks leading the way. Qatar Gas Transport and Telecoms Operator?Ooredoo both rose 1.9%. QatarEnergy issued a spot bid to sell full-range and light-range naphtha cargoes free-onboard from Ras Laffan Port, located "inside" the Strait of Hormuz. The tender was confirmed by a document that traders reviewed on Wednesday. Saudi Arabia's benchmark Index?edged upward by 0.1% with the majority of stocks showing positive returns. National Industrialization Company gained 3.6% while Saudi Aramco gained 0.5 percent. Saudi Aramco offered more?crude to be loaded outside the 'Strait of Hormuz in September, according to four sources familiar with the situation on Wednesday. This comes after the oil producer sold 4 million barrels of crude oil this month. (Reporting and editing by Mrigank Dahaniwala in Bengaluru)
Thyssenkrupp owners vote on materials spinoff in latest restructuring move
Thyssenkrupp shareholders will vote on Friday,?Feb. 14, on the proposal to spin off the materials trading division of the German conglomerate, which is its largest sales division. This is the latest step taken by the German conglomerate in order to streamline its complex structure. Thyssenkrupp would continue its overhaul by spinning off 49% of tk-accelis, which is a wholesaler of raw materials like steel and alloys and operates warehouses for them. Separate listings of the?hydrogen and defence divisions were made in recent years. Investors will vote on the matter at an "extraordinary general meeting" later on Friday. The move could result in tk Accelis listing separately at the end of October with Thyssenkrupp maintaining a majority.
LEGAL FORMAT IN FOCUS TOP-20?Shareholder DWS said on Friday that it would abstain on voting for the spinoff. It criticized the planned legal format of tk Accelis, which means parent Thyssenkrupp retains far-reaching controls over the subsidiary even though the company is listed separately. "Anyone who wants to take a company public has to be willing to share control and allow independent oversight," said Philipp Weinmann, DWS' corporate governance expert.
Analysts at Jefferies believe that tk Accelis, which has around 15,500 employees, is active in 30 countries, and generated sales of EUR11.4 Billion in the last fiscal year, could achieve an enterprise worth of approximately EUR3.6 Billion ($4.2 Billion). At a capital market day held last month, tk Accelis said it aimed to achieve an adjusted margin of earnings before interest, tax, depreciation, and amortisation (EBITDA) between 4% and 5%, as opposed to 2% in the fiscal year 2024/2025. Airbus, BP and Volkswagen are among the customers of the tk accelis?business. In June, the company said it was looking for acquisitions, focusing on the fragmented precious-metals market in North America.
(source: Reuters)