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Victoria proposes that new data centres must source their own green energy
As part of its sustainable data centre development plan, the state of Victoria in Australia has proposed that all new data centers in this?region must secure their own renewable power supply. Victoria Premier Ben?Carroll announced the proposal Tuesday and called it the "strongest and clearest data center rules in the nation". Data centres would be required to provide their own renewable energy and storage and pay for the costs of connection and network upgrades. William Taylor, ETFshares COO, stated that the new mandate would require data centre developers to become power project developers. This would add capital and lead time. Taylor stated that some of the world's largest hyperscale operators have already established dedicated renewable power purchase contracts as part?of global standard practice and Victoria's announcement could help formalise this practice. The cost of dedicated generation and the data center itself will be felt most by operators in the mid-tiers. The new rules will prohibit the construction of data centers in residential zones and near schools, childcare centres and rural areas where the infrastructure cannot be supported, as well as the management of traffic during the construction and operation. The data centre energy demand in Victoria is growing rapidly, and communities all over Australia are pushing back against the strain this sector puts on water, land and power resources. According to a government statement, data centres in Victoria use less than 1 percent of the drinking water available in the state for cooling. NEXTDC and CDC are two of the largest data centres in the state. The Sustainable Data Centre Action Plan of the Victorian Government outlines a new set of rules that will govern the development of data centres in Victoria, including what is expected from the state's planning, water, energy and environment departments. The Australian government has promised to restrict data centre resource usage from 2027, but continues to pursue an investment boom that may reach A$150 billion (106.53 billion dollars) by 2030.
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Copper prices rise on pre-holiday Chinese purchases
The price of copper rose on Tuesday as demand from the top consumer, China, pushed it back to its previous record high. The benchmark three-month 'copper price on the London Metal Exchange rose?0.4% to $14,720 per metric tonne by 0700 GMT. This was the sixth consecutive session of gains. The Shanghai Futures Exchange's most traded copper contract rose by 1.24%, to 111320 yuan (16,615.67) per ton. This was also aided by renewed speculative interest. Sandeep Daga is the head of research for Metal Intelligence Centre. He said that Chinese consumers are buying in advance of the holidays and shutdowns of smelters. China's next holidays will be from September 25-27 and October 1-7. The premium?Yangshan Copper On Monday, the price of copper in China fell to $119 per ton, but was still 65% higher than the beginning of the month. Low inventories in China also support prices. Daga stated that "Chinese inventory levels are low due to the fact that imports and output both fell." Traders awaited the outcome of a meeting that will take place between US President Donald Trump, and Chinese President Xi Jinping in this week to get hints on global economic prospects and trade ties. The gains were a'rebound' after a short pullback during a larger rally in recent months. The prices were supported by concerns about a possible US tariff on imported refined copper, which drove more metal into US warehouses. On September 10, copper reached a record-high of $14,875 per ton due to a shortage outside the United States. The price then eased after it was reported that the White House had not yet decided on tariffs. Aluminium gained 0.29% on the LME, while zinc fell 0.24% and lead dipped by 0.15%. Nickel rose 0.72%, while tin ticked up 0.09%. Aluminium fell 0.27% on the SHFE. Zinc dropped 0.6%. Lead increased 0.18%. Nickel gained 0.97%. Tin rose 0.47%.
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NHK reports that four people have died in the torrential rains caused by a typhoon in Japan.
NHK, the public broadcaster, reported on Tuesday that torrential rains caused by a powerful storm slamming Japan's Pacific Coast had led to landslides which killed four people and left six others missing. Typhoon Dujuan was the latest extreme weather phenomenon in an unusually wet year that saw floods, tropical cyclones, and intense rains hit regions around the world, from East Asia to North America and Europe. The broadcaster reported that mud poured into a house in Yokosuka, Kanto, killing a woman aged in her 60s. This was after landslides in Kanagawa, Chiba and other areas. Rescuers removed?debris? in Miura, a city in Kanagawa, south of Tokyo, while searching for a missing individual at a home that was hit by a landslide. After the typhoon left Japan, a resident removed heavy mud from an adjacent street. Tokyo Electric Power Co. said that about?45,000 homes in the area are without electricity. Richard Yonamine, 37 years old, said that water flooded into his house in Chiba's city of Sakura after a nearby river swelled by rains. This was the only time he had experienced this in more than 30 years. "I'm afraid if it begins to rain... "I'm afraid that as soon it starts raining, it will become a big problem," Yonamine said. Media reported that more than 10,000 vehicles were irreparably damaged by heavy?rain in Chiba last month, leaving passengers stranded at the busy Narita Airport.
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Victoria, Australia proposes that new data centers must secure their renewable energy supply
As part of its plan for sustainable data center development, Victoria, Australia, has proposed that all new data centers in the region will be required to have their own renewable energy supply. The new proposed?rules would also 'ban' data centres from residential areas and require that they use non-drinking?water for cooling. This comes as the demand for energy in Victoria is growing rapidly, and communities all over Australia are pushing back against this sector’s increasing strain on land and water resources. Anthropic, an AI company, signed its first lease agreement for a data center in Brisbane, Queensland, earlier this month. Victoria Premier Ben 'Carroll announced the proposal Tuesday and called the regulations "the strongest, clearest data center rules in the country". Data centres would be required to provide their own renewable energy, pay for network upgrades and?connection costs,' and use recycled water or non-drinking bottled water as cooling. The 'would also prohibit?the?construction?of data centres near schools and childcare centers, as well as in rural areas which cannot support the infrastructure. They would also pass on the responsibility for managing traffic during the construction and operation these facilities, that power AI growth. Data centres are traditionally cooled by water, which is a concern for local communities and policymakers, particularly in regions prone to drought. According to a statement from the Victoria government, data centres use less than 1 percent of the drinking water in the state for cooling. NEXTDC AirTrunk, and CDC are a few of the major data centres in the state. The Victorian government's Sustainable Data Centre Action Plan outlines the expectations for data center development in Victoria, including planning, water, energy and environment, as well as how it will coordinate to support the initiative. The Australian government has promised to restrict the use of data centres resources from 2027, but continues to encourage an investment boom which economists estimate could total A$150 Billion ($106.82 Billion) in Australia by 2030.
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Wall Street Journal, September 22,
These are the most popular stories from?the Wall Street Journal. The?Wall Street Journal has not verified the accuracy of these stories. - Meta ?Platforms and Shopify are teaming up, with plans to allow the social-media company's personal artificial-intelligence agent to complete purchases on behalf of users with the ?e-commerce platform's roster of stores. The Trump administration has proposed $5 billion to a fund that would help Middle East nations rebuild their energy infrastructure damaged in the 'Iran war' and reduce their dependence on the Strait of Hormuz for oil and gas transportation. Western pharmaceutical companies want the administration to let them continue to do deals with Chinese companies to obtain promising drug candidates, despite 2025 legislation restricting US investments in Chinese technology. Shamrock Capital, Flexpoint Ford and other private equity firms have purchased?Podium Entertainment. This book publisher focuses on independent authors and audiobooks. They bought the publisher for about $400 million CarMax has cut 145 jobs in the white-collar sector, or?about 4 percent of its corporate staff. This move comes at a time when auto sellers are feeling the pinch of rising interest rates and high prices.
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Morning Bid Europe-AI Trade gets its Muse
Ankur Banerjee gives us a look at what the future holds for European and global markets The AI trade has regained investor?enthusiasm after the positive reception given to Meta Platforms Muse since its launch in the US. Stalling oil prices also boosted risk sentiment. Investors will be watching a meeting between Donald Trump, and Xi Jinping this week. They are looking for any signs that the leaders of two of the largest economies in the world can stop a further deterioration of relations. AI will be at the forefront of the agenda for the two leaders, following a proposal to create a new system of safety notifications. Meta, the parent company of Facebook, launched Muse two weeks ago, an AI assistant which can send emails, book travel, and sell cars on behalf of a user. It has seen a lot demand since then. This helped propel the tech-heavy Nasdaq up to a new record high. Asian markets followed Wall Street's lead, with South Korea Kospi up 1.6% and Taiwan stock prices up about 1%. European futures indicated a higher opening. Early signs of Muse's success come after a cascading series of events that occurred over a 10 day period. These events have left the biggest AI labs in a state of shock, as they fear their creations could break humanity. Brent crude futures remained above $100 per barrel despite a four-session decline on the back of hopes for US-Iran negotiations after Trump said he was "open" to meeting Iranian president Masoud Peshkian who will be in New York for the UN General Assembly this week. Investors will be watching the French?markets, as they are concerned about France's long-term financial situation. On 'Monday', the cost of insurance against a French default rose to the highest level since March 2020. French bonds or OATs were the worst performing major economy bonds in 2026. The following are key developments that may influence the markets on Tuesday. Euro zone consumer confidence for September Kingfisher Plc earnings
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Copper prices rise on strong China demand
The price of copper rose on Tuesday as strong demand in China, the world's largest consumer, pushed it back to its record high. By 0300 GMT the benchmark three-month copper price on the London Metal Exchange had risen 0.61% to $14,750.5 per metric tonne, marking a sixth consecutive session of gains. The Shanghai Futures Exchange's most traded copper contract soared 1.56% to 111.670 yuan (16,675.88 dollars) per ton. This was also aided by renewed speculative interest. Yangshan Copper Premium On Monday, the?Chinese appetite for imported copper fell to $119 per ton, but it was still?65% higher than the beginning of the month. Copper stocks available in LME registered warehouses After 9,600 tonnes of new cancellations, the daily LME data revealed that shipments fell to 133,725 metric tons on Monday. The expectation that Chinese buyers would "rebuild inventory before the holidays" on September 25 and between October 1-7, as well as from October 1-7, also supported the market. Traders were waiting for the meeting between US president Donald Trump and Chinese president Xi Jinping to take place later this week, as it would provide signals about trade ties and global economic outlook. The gains were a rebound from a recent?brief pullback that was part of a larger rally. The prices were supported by fears that a potential US 'tariff' on refined copper imports could cause more metal to be stored in US -warehouses. On September 10, copper hit a record high at $14,875 per ton due to a shortage outside of the United States. The price then eased after reports that the White House had not yet decided on tariffs. Aluminium rose by 0.34% on the LME, while zinc gained 0.27%. Lead was little altered, and nickel advanced by?0.63%. Tin also increased 0.62%. Aluminium was little affected, while zinc was stable, and lead was up 0.34%. Nickel was up 0.79%, and tin was up 0.94%.
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NHK reports that two people have died in the torrential rains caused by a typhoon in Japan.
NHK, a public broadcaster, reported on Tuesday that torrential rains caused landslides in Japan's Pacific Coast, resulting in the deaths of two people and four others who are still missing. Nearly 50,000 homes lost electricity as a result. Typhoon Dujuan was the latest extreme weather phenomenon in a year of unprecedented rains, floods, and tropical cyclones, which have affected regions around the world, from East Asia to North America, Europe, and Australia. The broadcaster reported that mud flowing into a home in Yokosuka, in the Kanto Region, killed a woman aged 60. This was after landslides occurred in Kanagawa, and Chiba. Rescuers removed debris from a house that was buried by a landslide in Miura, Kanagawa, south of Tokyo. After the typhoon moved northeast, a resident removed heavy mud from?a nearby road. In a recent statement, Tokyo Electric Power Co said that there are almost 50,000 households in the area without electricity.
Fuel prices rise in Nigeria, causing cost of living to increase ahead of the 2027 elections
Fuel prices in Nigeria have reached'record levels' as tensions in the Middle East drive up global oil prices. This is putting fresh pressure on the government of President Bola Tinubu ahead of elections scheduled in less than 6 months.
This surge occurred even though the Dangote Refinery, Africa's biggest, was operating at full speed of 700,000 barges per day. It highlights the limitations of domestic refinement in protecting consumers from the international oil market shocks.
Checks showed that the price of petrol in Lagos and Abuja rose to 1,400 naira (about $1.05) per litre this month, up from 1,200 naira one month ago. Some stations in northern Nigeria charged as much as 1,500. Diesel prices were higher at over 2,000 naira per litre.
Fuel costs are eating into our earnings. Caleb Ojobo, an Abuja truck driver, said that after buying fuel there was very little left to spend on our families.
Price increases were a result of the decision by Dangote Refinery to increase its wholesale loading bay, or gantry price, to 1,350 Naira per litre. This reflects higher crude costs and continued exposure to global market swings. Nigeria, an OPEC country, is Africa's biggest oil producer.
Fuel prices are a key test for the economic performance of the government ahead of the general elections in 2027, which will be held on 16th January.
The recent rise in petrol prices has reignited the debate about Tinubu's removal the petrol subsidy. This reform was praised by investors, but critics blamed it for worsening the cost-of-living crises that have eroded purchasing power. The president said that subsidies are not going to be reinstated.
Fuel pricing is often used as a proxy to measure the cost of living debate. And sustained increases in fuel prices increase the political pressure on reformers to show that they are delivering benefits.
Fuel prices are high because billionaire Aliko dangote is selling shares of his refinery to raise money for its expansion.
Nigerians pay more for fuel because of the initial public offering. While thousands are eager to get a piece of the refinery through the IPO, they have been paying more at the pumps.
Joe Ajaero, President of the Nigeria Labour Congress, said that the new prices continue to deepen and inflict poverty on the population. He called for additional wage support as well as more crude oil denominated in naira to be sent to the refinery to curb price increases.
Analysts predict that fuel prices will exert pressure on the inflation rate, which fell to 15.39% from 15.43% last month. The food inflation rate also decreased slightly but remained higher at 19.57%.
(source: Reuters)