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Kyiv only has half the electricity needed, says mayor
Vitali Klitschko, the mayor of Kyiv, said that Ukraine's capital Kyiv only has about?half as much electricity as it needs?as it is facing its worst wartime energy crisis after waves of Russian attacks against its infrastructure. Klitschko stated that Kyiv is one of Eastern Europe’s largest cities and requires 1,700 Megawatts to power its services for 3.6 million residents. Klitschko stated that the current energy crisis is the greatest challenge the capital has faced in the almost?four years following the Russian invasion of February 2022. In an interview at his office in the heart of Kyiv, Klitschko, the former heavyweight boxing world champion, stated that it was the first time in the history of the city when, during such severe frosts and power shortages, the majority of the city had no heating. Klitschko said that Ukraine's international partner had sent in more generators, and he added that repair teams were working around the clock to restore heat after a russian strike last week cut off supplies?to 6,000 apartment blocks. He said that about 100 buildings are still without heating. Ukraine declared an emergency energy situation this week, as its grid collapsed under Russian bombings, bitter cold temperatures and wartime damage. (Reporting and editing by Daniel Flynn; Olena Hartmash)
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Kyiv only has half the electricity needed, says mayor
Vitali Klitschko, the mayor of Kyiv in Ukraine's capital, said that Kyiv only has half the electricity it needs as it is facing its worst?wartime energy crises following waves of?Russian attacks against its infrastructure. Klitschko stated that Kyiv is one of the largest cities in Eastern Europe and requires 1,700 Megawatts per day of electricity to run its services. Klitschko stated that the current energy crisis is the greatest challenge facing the capital since the Russian invasion of February 2022. In an interview at his office in the heart of Kyiv, Klitschko said, "This is the first time ever in the history of our city that we have had such severe frosts and a shortage of electricity." Klitschko stated that Ukraine's international partners had sent in more generators, and repair teams?worked around the clock to restore heat after a Russian strike knocked out supply to 6,000 apartment buildings last week. He said that about 100 buildings are still without heating. Ukraine declared an emergency energy situation this week, as its grid collapsed under Russian bombings, bitter cold temperatures, and wartime damage. (Reporting and editing by Daniel Flynn; Olena Harmash)
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Wall Street soars at the end of a choppy week as chipmakers make a jump
Wall Street's major indexes were higher on Friday, as chipmakers took the lead in a volatile and busy week. It was also the beginning of the fourth quarter earnings season. Memory chip makers led the gains. Micron, Seagate Technology, and SanDisk all saw their shares rise between?2% to 7%. This is a continuation of their explosive growth in 2025. The iShares Semiconductor ETF rose 2.1% on the Friday, extending its rally of nearly 12% so far this season, which has easily beaten Nasdaq's 1.2% gain. This shows investor confidence in AI-driven chip demand. Even after S&P 500 and Dow set new records on Monday, U.S. stock prices were limping towards modest weekly losses. The S&P is now just 30 points short of the 7,000-point mark - an?mark analysts have deemed as a possible pocket of technical resistance. The market was weighed down by concerns over the impact of a proposed cap on credit card rates for a year at 10%, despite good quarterly results from major U.S. Banks. "Banks have set up this week to show that consumers are still spending money and there is nothing to worry about. Jason Barsema of Halo Investing said that they will watch to see if this translates into increased consumption. The markets will be closed on Monday in honor of Martin Luther King Jr. Day. However, the earnings season will pick up next week, with Netflix, Johnson & Johnson, and Intel all due to release their results. 9:35 am The Dow Jones Industrial Average gained 67.35, or 0.14 %, to 49.509.79. The S&P 500 rose 18.67, or 0.27 %, to 6,963.14, and the Nasdaq Composite added 114.46, or 0.49 %, to 23644.48. The Defensive Sectors Lead Weekly Gains The top three sectors for weekly gains were consumer staples, utilities and real estate - all considered to be defensive sectors. Financials, on the other hand, plummeted and were heading for their worst weekly performance since October. This defensive move comes at a time when uncertainty has been raised about the Federal Reserve's independent after Jerome Powell, the chair of the Federal Reserve, said that the Justice Department had opened a criminal probe into him on Sunday. Kevin Hassett, White House advisor, tried to calm the controversy by dismissing the investigation and saying that he was expecting "nothing here." This week, the S&P 600 index for mid-cap stocks and the Russell 2000 index for small-cap stocks both saw gains of about 2%. A series of important economic data has reinforced the bets on a Fed rate pause. The remarks of Fed Governors Michelle Bowman & Philip Jefferson will provide a 'clue on voting members thinking before the U.S. Central Bank enters its blackout phase ahead of its policy meeting scheduled for January 27-28. State Street, among other stocks fell 2.7% following a decline in the fourth-quarter profits. After a report stated that U.S. States experiencing a rapid increase in data center construction would sign an agreement to reduce rising electricity prices with the Trump Administration, independent power producers fell. Talen Energy fell 9.6% while Constellation Energy, Vistra and Vistra each dropped over 7%. On the NYSE, declining issues outnumbered advancing ones by a ratio of 1.44 to 1 and by a ratio of 1.17 to 1 on the Nasdaq. The S&P 500 recorded 23 new 52-week lows and six new highs. Meanwhile, the Nasdaq Composite registered 46 new highs with 28 new lows. Medha Singh in Bengaluru and Pranav Kashyap, Shinjini Gianguli and Maju Sam edited the article.
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Unexpectedly, US manufacturing output increased in December
U.S. Factory Production unexpectedly increased in December amid a surge of primary metals production that offset a decline in motor vehicle assembly plants. However, activity contracted in the 4th?quarter due to challenges from import tariffs. The Federal Reserve announced on Friday that manufacturing?output? rose 0.2% in December after a 0.3% increase, which was upwardly revised. Economists surveyed by forecasted that production in the 10.1% sector would fall 0.2%, after an unchanged reading for November. In December, the production at factories grew by 2.0% year-over-year. It dropped by 0.7% annually in the fourth quarter, after increasing at a 2.8% rate in the third. The manufacturing sector has been hit by President Donald Trump’s import duties. He has justified them as necessary to restore the country's long-diminished industrial base. The rest of the manufacturing sector has been struggling, losing 68,000 jobs by 2025. Economists argue that a manufacturing revival is impossible due to structural problems, such as a shortage of workers. The tax cuts of Trump were expected to have a positive impact on the economy this year. Production of primary metals grew by 2.4%. Electrical equipment, appliances, and components were all up by a significant amount. Miscellaneous transportation was also up. Motor vehicle production fell 1.1% for the fourth consecutive month. Motor vehicle output fell In December, the rate of inflation was 2.8% on a year-over-year basis. The mining output dropped?0.7% in January after recovering 1.7% the previous month. The cold temperatures increased demand for heating and boosted utilities production by 2.6%. Utility output fell by 0.3% in the month of November. The overall industrial production rose by 0.4% following a similar increase in November. In December, industrial production increased by 2.0% year-over-year. The fourth quarter saw a growth of 0.7%. Reporting by Lucia Mutikani; Editing and proofreading by Andrea Ricci
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Caltagirone, a major MPS investor, says that there was no conflict with Lovaglio as CEO
Grouppo Caltagirone is a major shareholder in Monte Dei Paschi di Siena. It said that speculations about a conflict with?CEO Luigi Lovaglio were misplaced. The board was simply discussing the bank's governance and strategy. Lovaglio, 70, last year led Monte dei Paschi (MPS) to acquire bigger rival Mediobanca as consolidation swept Italy's banking sector. This deal increased the influence of two key investors: Francesco Gaetano Caltagirone, the construction tycoon and Delfin Holdings, the holding company of Del Vecchio Family. Both are major MPS investors, and they also own stakes in Italy's biggest insurer Generali. Bankers believe that with MPS at the core of Italy's finance system, the future of the sector will depend on the decisions made about its leadership. Lovaglio wants a new mandate from the MPS Board?in April. However, several sources have said in recent months that the situation is complicated by a probe being conducted by the Milan prosecutors into the Mediobanca case. MPS has given its full support to the CEO who is being investigated along with Caltagirone Chairman Francesco Milleri and Delfin Chairman Francesco Milleri over an alleged secret agreement to control Mediobanca through MPS. The three parties have all denied wrongdoing, and the Italian market regulator has ruled out an unreported agreement. Grouppo Caltagirone commented on Friday, in response to a Financial Times article about a conflict between MPS CEO and Caltagirone. They said that a debate within the company over a strategic planning?requested by regulators? and board renewal shouldn't be interpreted as a reflection of the role played by a large shareholder. It said that "linking this boardroom conversation to the role played by a major shareholder or Mediobanca’s stake in Generali is an opportunistic interpretation." Delfin, which backed Lovaglio on Friday, said it was in support of the bank's management and that it had no plans to sell its MPS shares at this time. Delfin holds 17.5% and Caltagirone 10% of MPS. They joined as Italy, who rescued MPS by acquiring a 68% share in 2017, reduced its holding to below 5%. Alessandro Caltagirone, son of Caltagirone and Elena De Simone - a director for Caltagirone SpA - were appointed to the board after the Treasury reduced their stake. Reporting by Valentina Z and Giuseppe Fonte. Jane Merriman edited the article.
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Andy Home: Tin price bubble is a source of trouble and toil for the global industry
London and Shanghai markets have seen a surge in tin prices, which are now at all-time highs. According to the China Nonferrous Metals Industry Association, a state-backed organization, this rally is "unreasonable". Last month, it warned all parties to "avoid following trends blindly". Beijing's warning hasn't stopped Chinese investors from chasing prices higher and higher. On Thursday, the volume of trading in the tin contract at Shanghai Futures Exchange (ShFE), exceeded one million metric tons. This is more than double the annual global physical consumption. Tin is in a clear speculative boom, and it will burst as soon as the trend changes. The mismatch between physical market size and interest in investing foreshadows future volatility. Not just for tin. The current tidal waves of investor purchases washing through the industrial-metals sector may be a sign for other metal supply chain. EXUBERANCE IRRATIONALE Since several months, the London Metal Exchange (LME), tin contract has been bubbling. However, this week it exploded as Chinese investors brought with them their financial power to the rally. On Tuesday, LME's three-month metal surpassed the previous price peak of March 2022 at $51,000 per ton and soared to $54,760 by Wednesday. It is the lack of supply that drives this narrative. Tin's structural issues with supply are well-known. Global mine production is concentrated in a few countries, and heavily dependent on frontier jurisdictions like the Democratic Republic of Congo or the semi-autonomous Wa State of Myanmar. This rally is not at the right time. The tin supply situation has improved in recent months. Since the M23 insurgency was in danger of overrunning the Congo's mine Bisie a year earlier, the threat has diminished. Alphamin Resources, the mine operator, has raised its annual production forecast after a strong performance in the third quarter. After a long absence, the giant Man Maw Mine in Myanmar has also begun to show signs of renewed productivity. China imported 7,190 tonnes of tin-based raw materials from Myanmar in November. This was the highest monthly total since August 2024. According to the Indonesia Tin Exporters Association, Indonesia will continue to crackdown on illegal mining, but the official sector production quotas are expected to increase from 53,000 tones in 2025 to 60 000 tons in 2026. There is no shortage of refined tin at the moment. Metal producers and traders have contributed significant quantities of metal to the price rally. The combined stocks of the LME and ShFE rose from 11,000 tones at the end October to more than 19,000 tons. Inventory was less than 5,000 tons at the previous peak of 2022. When China's metals regulator describes the tin price's recent surge as "unreasonable", they may be right. LIQUIDITY MISMATCH Paraphrasing economist John Maynard Keynes: a market may remain "unreasonable", longer than you are able to remain solvent. Investors can have a large impact on the price, especially if you're dealing with a small-scale market like tin. Shanghai is a clear example of this. China's commodities markets have been characterized by such speculative booms for a long time. It was alumina last year. Chinese authorities are in a well-honed firefighting mode. They have raised trading margins and, in particular, the cost of intraday transactions, while limiting positions for non-members. Tin's story of limited supply and increasing use as a semiconductor-solder has not only attracted the Chinese. Over the past few years, the number of funds participating in the London Tin Market has steadily increased. The investment fund's long position reached a record high of 2,887 contracts in late 2021 or early 2022 when tin prices were at their highest. This is equivalent to 14,435 tonnes. The investment fund long position reached a record of 5,753 contracts or 28,765 tonnes at one point last month. The liquidity rush has increased volatility in a market that is known for its wild price swings. Futures frenzy is causing real problems in the supply chain, as consumers and producers struggle to cover their margins. When does price risk take precedence over liquidity risk? How long can you "remain solvent"? FUNDS AND FUNDAMENTALS Tin was not a popular metal a few years back. Most fund managers did not invest in tin because the market was too small both for physical volume and futures trading. This is changing, as the world begins to realize the centrality of tin in the Internet of Things. No circuit boards, no internet. In our hyper-connected, connected world, there is very little more. The result is that too much money floods a market unprepared to handle it. CNMIA is the voice of the world's biggest refined tin producers and users. It is very clear on the dangers posed to the present exuberance. The rapid price rise driven by funds has diverged from industry fundamentals and magnified market risks, harming the global chain of industry. Tin's dramatic story may be a timely reminder for other metals in demand, such as copper, as fund money floods the industrial metals sector in search of other hard assets than gold and silver. Andy Home is an author and columnist. The opinions expressed in this column are Andy Home's. Open Interest (ROI), a data-driven, thought-provoking commentary on the markets and finance. Follow ROI on LinkedIn, X and X.
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Retraction: Correction Regarding MT Autan
On November 10, 2025, Offshore Engineer published an article titled “Sources say that India’s HMEL has issued a prompt tender to supply naphtha as Russian supplies are hit.” The article incorrectly stated that the vessel MT Autan was sanctioned by the European Union and the United Kingdom. This statement was inaccurate. Offshore Engineer Energy News hereby retracts that statement and confirms that the MT Autan is not sanctioned by the European Union, the United Kingdom, or any other authority. The article containing the incorrect statement has been removed from our website. We expressly apologize to Autan Shipping Limited for the error. Offshore Engineer/ Energy News Jan 16, 2025
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Israeli soldiers kill a Palestinian teenager in West Bank
The Israeli military confirmed a Palestinian boy, 14, was killed by Israeli soldiers after he hurled a rock at them. Officials from the Palestinian Authority have not made any further comments about the deadly incident that occurred in the village of Al-Mughayyir. The official Palestinian news agency,?WAFA, reported that the teen died during an Israeli military raid which led to confrontations. The Israeli military claimed that its forces were called to the region after receiving reports that Palestinians were 'throwing stones at Israelis, and blocking a highway with burning tires. The military claimed that the soldiers shot warning shots to try and repel the person who ran at them with a stone, then shot him and killed him in order to eliminate the threat. The violence in the West Bank has increased over the past year. Israeli settlers have intensified their attacks on Palestinians, and the military has tightened restrictions for movement in several cities. Palestinians have also attacked Israeli soldiers and civilians in some cases with deadly results.
Oil extends losses as strong dollar weighs on products markets
Oil rates fell in early Asian trade on Monday for a 2nd straight session, weighed down by a more powerful dollar after concerns of higherforlonger interest rates resurfaced and cooled investors' risk hunger.
Brent unrefined futures slid 40 cents, or 0.5%, to $ 84.84 a barrel by 0036 GMT, after settling 0.6% on Friday. U.S. West Texas Intermediate crude futures were at $80.34. a barrel, down 39 cents, or 0.5%.
The U.S. dollar has actually opened quote this morning and appears to. have actually broken greater following much better U.S. PMI information on Friday. night and political issues ahead of the French election, stated. Tony Sycamore, a Sydney-based markets expert at IG.
A stronger greenback makes dollar-denominated commodities. less attractive for holders of other currencies.
Nevertheless, both benchmark crude agreements got about 3% last. week on indications of stronger oil items need in the U.S.,. world's largest customer, and as OPEC+ cuts kept supply in. check.
U.S. crude inventories fell while gas demand increased for. the seventh straight week and jet fuel intake has actually returned. to 2019 levels, ANZ experts said in a note.
Geopolitical dangers in the Middle East from the Gaza crisis. and a ramp-up in Ukrainian drone attacks on Russian refineries. are also underpinning oil rates.
In Ecuador, state oil business Petroecuador has actually declared. force majeure over deliveries of Napo heavy crude for exports. following the shutdown of a key pipeline and oil wells due to. heavy rains, sources said on Friday.
In the U.S., running oil rigs fell three to 485 recently,. their lowest considering that January 2022, Baker Hughes stated in. its report on Friday.
(source: Reuters)