Latest News
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New Hope coal miner in Australia pays out highest dividends since 2022
New Hope Corp, a thermal coal -miner in Australia, declared its 'largest ever final dividend' on Tuesday. This was despite the fact that their annual profit had more than halved and they missed expectations. The shares rose to their highest level in over 3-1/2 years. Rob Bishop, CEO of. "We had a good year and we were able to pay out a large dividend," said he. New Hope announced a final dividend per share of 30 Australian cents for fiscal 2026. This is the highest since 2021 when it was 31 cents and surpasses last year's 15 Australian cents. The company's shares rose by as much as 4.1% in the early trading, reaching their highest level since January 2023. As of 0056 GMT, the broader market was down 0.5%. Sales and production of saleable coal increased by 7.6% and 11.8% respectively. This was due to the ramp-up at its New Acland Mine in Queensland, and the strong performance in the second half of the year at the Bengalla Mine in New South Wales. The annual net profit after taxes fell by 63.4% compared to the previous year, falling to A$161 million ($114.94 millions), the lowest level since fiscal 2021 when A$79million was recorded. Visible Alpha's estimate of A$182.2 millions was also not met. New Hope said that its earnings were negatively affected by a decline of 8.8% in the average realized sales price to A$143.2 per tonne. This was due to unfavourable exchange rate fluctuations, as well as an increase in the percentage of sales with high-ash across the group. The company's Bengalla Growth Project and ramp-up at the New Acland Mine?also contributed to the decline in profits. The company stated that it expects thermal coal prices will be well supported in the medium to long term, due to a shortage of supply caused by ageing assets and a lack of investment in new projects.
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Asian shares fall as oil prices and yields increase ahead of Fed and BOJ meetings
Asian shares struggled on Tuesday, as investors considered Middle East tensions. Industry figures also called for a halt in AI development. Meanwhile, higher oil prices and bond yields heightened caution ahead of 'key' central bank meetings taking place in the U.S. Yemen's Houthis, who are aligned with Iran, launched a new offensive on Saudi Arabia Monday. Riyadh had blamed Iran-backed fighters based in Iraq for an assault on the east-west oil pipeline of the kingdom that could disrupt up to 4% global supply. Gulf Arab states have also delayed planned talks with Iran. Brent crude was up by 1.21% at $106.96 a barrel, while U.S. Crude rose 1.27% to $102,68 per barrel. In a recent note, Yokoo Akihiko, an analyst at Mitsubishi UFJ Bank said that the markets are likely to continue to focus on the possibility that higher crude oil costs could contribute to 'inflationary forces, and in turn, drive interest rates higher. Leading AI figures have called for a'slow down in development of AI technology. This has continued to resonate through the markets, even as U.S. president Donald Trump has played down concerns about misuse. He said that existing U.S. protections are adequate and China would benefit from any doubts regarding AI development. MSCI's broadest Asia-Pacific share index outside Japan fell 0.12%. South Korea's 0.25% drop led the way. Japan's Nikkei index edged up 0.19% after reversing its early losses. Shares of chip-related companies were mixed. South Korea's Samsung Electronics lost 0.2%, while Japan's Kioxia rose 3.3%. Federal Open Market Committee will begin its two-day session later that day. The markets have priced in a 90% probability of a rate increase, which would be the first since mid-2023. Morgan Stanley analysts said in an?address that "while inflation continues to decelerate" recent upside surprises have made the pace of disinflation slower and less convincing. They expect a 25 basis point hike on Wednesday and December. "We can see both arguments for a hike or a hold. However, signs of second-round impacts from energy prices and strong demand linked to AI-related investments, as well as a neutral rate which is temporarily higher and concerns over credibility, mean that the balance of risk now argues in favor of a slightly more restrictive policy." Overnight, the benchmark yield on 10-year U.S. Treasury bonds reached 5% for first time in 2023. Germany's 10-year yield rose above 3.51% to its highest level since 2009, and U.S. Treasury bond yields also touched 5% overnight. Tuesday, Japan’s benchmark 10-year government bond rate jumped back to 3%. Bank of Japan will likely raise its interest rate to 1.25% by 25 basis points at the conclusion of its two-day session on Friday, and signify that more tightening is to come. The Bank of Japan is looking to bolster the yen following intervention that helped move the currency away from a low for 40 years. The dollar index, which measures greenbacks against a basket including the yen, and euro, increased 0.05%, to 99.53. Meanwhile, the euro fell 0.03%, to $1.1543. The dollar rose 0.17% against the Japanese yen to 154.61. Spot gold fell 0.15%, to $4,291.59 per ounce. Spot silver dropped 0.31%, to $63.03 per ounce.
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SB Energy will sell shares worth up to $500,000,000 to Japanese investors as part US IPO
A filing on Tuesday showed that the SoftBank Group-backed Data 'centre developer SB Energy will sell up to $500 million worth of shares to Japanese investors as part a a U.S. public listing. The filing stated that the firm would issue new shares to the Japanese investors and the funds raised would be used for "general operating costs" for the development of data centres, "power generation", and other infrastructure projects. The filing did not disclose the size of the U.S. Initial Public Offering. SoftBank could be looking for a $50 billion valuation for SB Energy. SB Energy's investment prospectus from September reported that Nvidia had committed to investing $1.5 billion at the IPO price in a private placing, while OpenAI was issued warrants valued at approximately $5.5 billion. Investor interest in artificial intelligence led to a flurry of 'public listing' in related firms this year. SpaceX listed in June, and Anthropic is preparing to list in the second half of.this year. Japanese investors?secured a total of $2.2 billion in SpaceX shares at its IPO.
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Interior Secretary Burgum: US wants to issue deep sea mining permits in a few months
The Trump administration announced on Monday that it was close to approving permits to'mine' the deep sea as part of an broader effort to increase U.S. access to the vital minerals needed across the U.S. economy. Interior Secretary Doug Burgum told a G20 gathering in Houston of energy ministers that the permits could be issued within months, as the administration pursues its strategy of "energy add" to expand the supply chains of the country and its allies. Donald Trump, since returning to office in 2017, has taken steps to bolster the deep-sea mine industry. However, he still hasn't issued operational permits to allow it to move forward. Many environmentalists are concerned that seabed mining could lead to irreversible biodiversity losses. The Pacific Ocean, and other parts of the world are believed to have large quantities of polymetallic nodules (potato-shaped rocks) that can be used as building blocks for electronic vehicles, weapons and electronics. Burgum stated that "those nodules we have to vacuum up from the sea floor (are filled with?critical minerals we need." Burgum said that part of the solution is to ensure that we have a diverse, reliable, and affordable supply of essential minerals. In the last 18 months, U.S. exports of critical minerals, especially those processed in China by Chinese companies, have been limited as Beijing limits its exports. This has increased pressure on Washington, which is now urging it to support efforts to increase domestic mining. Burgum responded to Burgum's question about when the federal government could issue permits for deep-sea diving: "Those discussions are taking place right now." He added that "you'll hear more in the coming weeks and months because there's exciting developments on that front." Burgum's Interior Department supervises the Marine Minerals Administration which must approve all?permits for mining?U.S. Territorial waters. The MMA review would begin with a lease to allow private companies to have exclusive access to a part of the seabed. Then, a review process would be conducted to determine if an operational permit was needed. This would include a variety of scientific data. Separately Trump wants the Commerce Department to issue international permits. This could lead to a conflict with the United Nations' International Seabed Authority, which has tried to set standards for more than 25 year. The Metals Company, a privately-held company, and Impossible Metals are among the companies that have requested permits for seabed mining. Other companies have also applied for exploration permits.
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Texas penalizes data centers for violating water laws
On Monday, the 'governor' of Texas, a state that is one of the fastest-growing areas for artificial intelligence infrastructure, instructed'state regulators to penalize any data centers who fail to provide details regarding their water usage. Texas, which has halted new data center connections to the state's?electrical grid, pending an assessment of the facilities' water and power use, amongst other issues, re-examines its regulations for server warehouses. Governor Greg Abbott has directed the Texas Water Development Board to "impose legal consequences" to data centers and large water-using entities that fail to report their water usage. Abbott's office issued a statement saying that "major water users including data centers appear to have violated civil and criminal laws by failing to provide TWDB the required information about water usage." The 'Texas water regulator tries to survey data centres about their 'water use and consumption expectations. The data center will be denied new or renewed environmental permits if it fails to submit the survey by the deadline.
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Interior Secretary: US oil export ban unlikely lower energy prices
U.S. Interior Secretary Doug Burgum stated on Monday that a ban on U.S. fuel or oil exports was unlikely to help lower energy prices for consumers in the midst of the Iran War. Burgum, speaking to reporters at the G20 meeting on energy in Houston, said: "We'd consider an export prohibition if it actually could lower prices. But that's not true." Burgum, a Trump appointee, stated that a ban on the export of oil, gasoline, or diesel could result in retaliatory measures from other countries. This could harm consumers in California, whose energy imports are largely dependent on. Burgum stated, "We stopped exporting products, and then someone said, "We're not going to export to California." Burgum stated that California has already shut down several oil refineries which has contributed to the rise in fuel prices. Burgum stated that California already has the highest gas and diesel prices in the nation due to their policies. We don't want to make it worse. The Trump administration has run out of options to reduce prices for diesel and oil, which recently reached a record-high above $6 per gallon, and are even higher in California. The White House is considering how it can use the Cold War Defense Production Act in order to increase U.S. refinery capacity.
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US EPA will undo carbon emissions limits for power plants during G20 meeting
The U.S. Environmental Protection Agency announced Monday rules to repeal former President?Joe Biden?s limits on carbon emission from coal-and-gas-fired power stations and to prevent future climate regulations of these facilities. The move is part President Donald Trump’s effort to undo U.S. Climate Policy, which his administration claims has hampered energy production. The announcement was made at the sidelines of the G20 Energy Ministers' meeting in Houston this week, where global officials will discuss "regulatory efficiencies," expanding baseload power, and energy security. EPA Administrator Lee Zeldin stated that 'new measures to prevent future regulation on greenhouse gas emissions in the power sector would enable the U.S. build new generating infrastructure to meet the skyrocketing demand for electricity. He said that the Americans have demanded more common sense from federal agencies under President Trump’s leadership at a press conference held in Houston. "That means reducing red tape so that we can build a new power-generating system." Environmental groups slammed this new proposal. They said that it would be more expensive in terms of damage to the public and the environment. Nearly a quarter (25%) of U.S. emissions are attributed to the electricity sector. In June 2017, the Trump administration proposed to repeal regulations written by Biden that would have reduced emissions of mercury, carbon dioxide and other air pollutants at power plants. Biden's carbon emissions rules for power plants would reduce greenhouse gas emissions by one billion metric tonnes by 2047 as part of his administration’s fight against climate changes. This rule would have required that coal-fired power stations and new natural gas-fired generators install equipment to capture emissions in the next decade before they reach the atmosphere. This requirement made zero-emissions options like solar and wind attractive. Denying the existence of climate pollution that accounts for a quarter in the United States is reckless. Maggie Coulter said on Monday that it would 'lead to greater suffering and loss of life from extreme heatwaves, severe storms and destructive 'wildfires', similar to those we have seen this summer. According to a report by a reporter, Under Secretary of Energy Kyle Haustveit said that the new regulations would boost 'coal-fired electric power in the U.S. which has been steadily declining due to the availability and cheaper natural gas. He said, "President Trump has ended the war against beautiful, clean coal." "Coal has many advantages: it is affordable, reliable and secure."
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VTB sanctions imposed by the U.S.
Treasury Department: The United States imposed Iran-related Sanctions on Monday against?Russia's VTB Bank Public Joint Stock Company accusing it of involvement in Iranian sanctions evasion. Washington is seeking to increase economic pressure on Tehran. This action is a continuation of the sanctions that were imposed in 2022 against VTB, Russia’s second largest?lender. The bank was targeted following Moscow's full-scale invasion into Ukraine. Treasury Secretary Scott Bessent stated that "Under Operation Economic Outcast Treasury will continue to target those who provide material or financial support to the Iranian regime to enable it to maintain its terrorist enterprise." Treasury will not tolerate any regime support and will continue to expose and isolate Iran’s "enablers." Bessent warned that the Trump administration will sanction a "large bank" as it continues to exert economic pressure on Tehran in order to end a six-month conflict between the U.S. and Iran. Since the conflict began in February, the 'United States' has taken a number of economic measures to target Iran, including oil exports, shipping networks, channels for weapons procurement, financial intermediaries and digital asset exchanges.
Ford withdraws its guidance and warns that Trump's tariffs will cost it $1.5 billion
Ford Motors suspended its annual guidance Monday due to uncertainty surrounding U.S. president Donald Trump's new tariffs. The company said the levies could cost it about $1.5 billion before taxes and interest in adjusted earnings.
The Dearborn, Michigan, automaker forecasted earnings before taxes, interest, and other expenses of between $7.0 billion and $8.5 billion by 2025. This forecast does not include tariffs.
Ford's Chief Financial Officer Sherry house said that the company is on track to achieve this guidance, even if tariffs are not a factor.
House stated, "We focus on managing what we can control."
Ford executives have said that they are suspending their outlook until they know more about the impact of retaliatory duties and how consumers will react to any price hikes.
Morningstar Research analyst David Whisto said: "It is a bold move to withdraw the guidance after GM revised its guidance, including tariffs. To be fair, things are still very uncertain."
Ford announced its earnings after the end of the U.S. trading session. Its shares dropped about 2% after-hours.
Ford's earnings-per-share fell to 14 cents during the first quarter. This was a far cry from the LSEG analysts estimate of 2 cents, but still a significant drop compared to 49 cents a full year ago. Ford executives claimed that cost and quality improvements allowed the company to beat expectations.
The automaker warned earlier this year that production disruptions due to new product launches in several plants would affect the first-quarter results. The net income dropped sharply from $1.3 billion to $471 millions a year ago.
Ford's quarterly revenue dropped 5%, to $40.7 billion. This was better than the expected $36 billion. The earnings were boosted as consumers bought vehicles in a rush, fearing that tariffs could lead to higher prices. Ford was among a handful of automakers who offered incentives to gain market share during the buying frenzy.
Ford estimated that tariffs will add $2.5 billion to its costs for the entire year. This is primarily due to expenses incurred from importing cars from Mexico and China. Ford has suspended its automotive exports to China but continues to import vehicles from China like the Lincoln Nautilus.
Ford has said that it was able to save about $1 billion by taking various steps, such as transporting cars from Mexico to Canada via bond carriers so they would not be subject to U.S. Tariffs, House stated.
According to some estimates, Trump's 25% tariffs for automotive imports will cost automakers in the U.S. more than $100 billion this year.
Last month, the president granted a reprieve on levies on auto parts. This allowed auto companies to receive credits of up to 15% of value of domestically assembled vehicles, and relief from other duties.
This month, GM reduced its profit forecast. It said that tariffs would cost it as much as $5 billion.
Investors prefer Ford to GM because Ford sells more cars in the U.S. and is assembled there, compared to GM.
Stellantis, a Jeep manufacturer, has also suspended its forecasts due to the uncertainty surrounding tariffs.
Ford's electric vehicle sales are suffering significant losses, on top of the headwinds caused by Trump's trade policies.
This year, the automaker projected losses up to $5.5 Billion on its EV operations and software. The automaker has already suffered losses of more than $10 billion since 2023.
Exclusively reported, Ford has ended an expensive effort in order to build a new generation electrical architecture called FNV4 for its vehicles after delays and rising costs stymied the development.
Ford Pro, Ford's profitable segment of commercial vehicles, reported first-quarter revenues of $15,2 billion, a 16% drop from the previous year. Ford's gasoline engine division reported quarterly revenue of $11 billion. Model e, which includes software as well as EV efforts, reported revenue of $1.2billion for the quarter. Reporting by Nora Eckert, Nathan Gomes and David Gregorio.
(source: Reuters)