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Tata Motors India targets mass EV adoption through low-priced and fast-charging punch
Tata Motors' CEO stated that the company is confident its new, low-priced 'Punch EV' will be able to crack the 'dominant budget segment' of the third largest 'car'market in the world for electric vehicles. Approximately 65% of India's 4.6 million passenger cars sold last year had a price below $13,200. Just 1.6% of the affordable cars sold in India last year were EVs. In India, there are currently only a few EVs in the lower-price range. Shailesh C. Chandra, a reporter at the Reuters news agency, said that buyers are held back by concerns about their battery life and range and also because of their slow charging times. The entry segment is where the real challenge lies. Chandra stated that until we solve this problem, EVs will never be mainstreamed. The new Punch EV starts at $10,650. A?long range variant, which can travel 350 km (217 miles), on a single battery charge, is available for $13,850. According to the company, The Punch can charge?from 20% battery level up to 80% within 26 minutes using a fast charger. It also comes with a warranty for life on its battery. Tata also offers an option that decouples the price of the EV from the battery. This reduces the upfront cost of the EV to $7,100. The battery is then paid separately at 3 cents per km. GOVERNMENT WANT MORE EV ADOPTATION, BUT SALES ARE LAGGING India's government wants to see EV sales increase to 30% by 2030, from only 5% currently. This will reduce India's dependency on imported fuels and help to lower pollution levels in its cities. However, EV growth has slowed down, forcing carmakers to offer discounts. Chandra stated that Tata Motors sacrifices margins on its EV line "to an extent" to ensure long-term progress toward electrification. However, he added that profits were 'not far below the combustion engine car business. He said that "EVs are no longer an experimental play, but a serious one." Tata is India's biggest?seller? of electric vehicles. It competes with SAIC India, JSW MG Motor and Mahindra & Mahindra. Maruti - Suzuki, India's largest car manufacturer, is the newest to enter the EV sector with its eVitara SUV. Its base model, which leases the battery separately, starts at around $12,000, while the long-range version costs $22,000. (Reporting and editing by Joe Bavier; Aditi Shah is the reporter)
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Oil prices rise as US-Iran tensions increase oil prices. Global stocks remain steady, with risk appetite remaining firm.
Global shares remained steady on Friday as traders considered the heightened tensions surrounding a possible conflict between Iran and the United States, which has helped to 'push oil prices up to their highest level in six months. The STOXX 600 pan-European index rose?0.5%, and is on track to have its fourth week of gains. Futures for the S&P 500 index in the U.S. remained flat. Investors will be battling a mix of geopolitical risks, economic signals, and political flashpoints as the session concludes a volatile global asset week. Mabrouk Chetouane is the head of global strategy at Natixis Investment Managers. They are still focusing more on economic fundamentals than geopolitical risk. When you examine metrics like valuations, earnings, and interest rate expectation, things seem to be stable. According to LSEG data, as of Wednesday, 163 of the?STOXX 600 companies had released their quarterly results. Of these, 57.1% were above analysts' expectations. The data shows that in the S&P 500, 73% of companies who reported earnings last week exceeded revenue expectations. Nvidia will report its earnings next week, which will be the main focus of markets. Investors will also be analyzing global business activity surveys and fourth-quarter U.S. gross domestic product numbers. They'll also be examining the Federal Reserve’s preferred inflation measure, the core personal expenditures price index. DOLLAR NOTCHES WEEKLY GARANTIE The dollar is headed for its biggest weekly gain in four months in foreign exchange trade thanks to a patchwork a slightly better U.S. economic data and Fed minutes that suggest policymakers are not in a hurry to lower rates. The dollar has gained about 1% against the euro this week, pushing it to $1.1768. Francesco Pesole, ING FX's strategist, said that the dollar's "safe-haven appeal" is generally reduced but fully restored when oil shocks are triggered by geopolitical tensions. The yen fell in Japan after data revealed that core inflation in the country was at 2%, its lowest rate in two years. This could complicate the central bank's path of raising rates. The dollar has gained 1.7% this week and is now trading at 155.22yen. U.S. Treasuries remained steady with 10-year yields of 4.07%. However, the Fed minutes showed a division over how quickly to reduce rates. This has pushed up two-year yields to 3.47% over the past week. The yields on Germany's 10-year Bunds (the euro zone benchmark) are on course to decline by 2 basis points this week. OIL SURGES ON US MILITARY BUILDUP Benchmark Brent crude futures reached 6-1/2-month highs above $72 per barrel as U.S. president Donald Trump set an Iranian deadline of 10 to 14 days to reach a 'deal' over its nuclear program, or else "really bad" things would happen. The political rhetoric has escalated dramatically. "Even a limited disruption or credible threat to shipping lanes can cause an immediate shock in supply," said Capital.com Senior Market Analyst Daniela Hathorn. Kenji Abe (chief strategist, Daiwa Securities, Tokyo) said that investors were hesitant to take risks after the news. Brent Donnelly, President of Spectra Markets, said: "There doesn't seem to be any point in increasing risk before this weekend's unrest surrounding the Middle East." Today feels like a great day to avoid trouble." Reporting by Niket Nishant in London and Tom Westbrook, Singapore; editing by Shri Navaratnam and Jane Merriman
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INDIA BONDS - Indian 10-year bond yields surge most in the past two weeks due to US-Iran tensions
The yield on India's 10-year benchmark government bond spiked Friday due to mounting concerns about a possible military confrontation between the U.S. India is a net importer of energy, and higher crude oil prices pose a major risk. The benchmark 2035 bond yield of 6.48% settled at 6.9214 percent on Friday, up more than 4 basis points, the biggest increase in two weeks. Bond yields are inversely related to prices. Donald Trump, the U.S. president, issued a fresh warning on Thursday, urging Iran's nuclear programme to reach a deal. He set a deadline of?10-15 days, prompting Tehran to threaten retaliation if U.S. bases were attacked. Benchmark Brent Crude futures reached nearly $72 per barrel on Friday. This was their highest since July 31. Alok Singh is the head of treasury for CSB Bank. He said that with?global tensions brewing, some positions were unwinding before the weekend. If there is no further escalation of tensions, crude oil prices could drop and yields could retrace. Traders said that aggressive paying of overnight index swaps because of the weakening?rupee, and the rising crude price also dampened the sentiment on the debt market. Separately New Delhi raised 330 billion rupees ($3.62billion) earlier in the day through the sale government bonds, at yields that were?2-3 basis point above market levels, deepening the selling and sending the 10-year rate to the 'day's highest of 6.73411%. The rate of India's OIS 5-year bond jumped the most in two weeks, a move influenced by tensions between the U.S. and Iran. The two-year OIS rate increased?about 3bps to 5.65%. The five-year OIS rates jumped about 5.5 bps, to 6.0950%.
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Sibanye CEO: Sibanye committed to battery metals even though lithium is impaired
Richard Stewart, CEO of Sibanye Stillwater, said that the company is committed to its 'battery metals' business. This comes after an impairment of another 2.46 billion rand (about $152.6 million) on its Keliber Lithium project in Finland. In recent years, the South African miner has acquired zinc, nickel, and lithium assets as part of a shift to metals that are used in renewable energy technologies. Sibanye recorded a total impairment of 7,8 billion rands at Keliber by 2025. The company cited a "dim outlook for long-term prices of lithium hydroxide". The asset is currently valued at around 9 billion rand by the company. The company cancelled its plans to invest in the Rhyolite Ridge Lithium project in the United States in February 2025. After the?metal price dropped. Stewart stated during a call to discuss results that "our long-term strategic goal as a business is to continue to provide metals to support the decarbonisation of our planet and energy transition". PRODUCTION PHASED Sibanye will phase-in production at Keliber starting with spodumene, and then consider producing battery-grade lithium hydroxide at a later date, depending on price. Stewart stated that the European Union's and U.S.'s initiatives to reduce their reliance on China as a source of battery metals provide an incentive for Keliber. He said, "We believe this will have an impact on the final pricing layout in time." Sibanye announced on Friday that its headline earnings for 2025 were 2.44 rand per share, compared to 0.64 rand in the previous year. This was boosted by higher prices of gold and platinum group materials. This helped the diversified miner announce its first dividend since 2023. The average South African PGM price rose by 28% and the rand price increased by 39%.
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TSX futures are rising as gold continues to gain.
Futures for Canada’s main stock index increased?on Friday as gold prices continued to rise amid rising concerns about a possible conflict between the United States and Iran. As of 5:16 a.m., March futures?on S&P/TSX -composite index rose 0.3%. ET. Toronto's benchmark stock index reached a new record on Thursday, despite Wall Street ending lower. This was due to gains in commodity stocks. The benchmark index is expected to rise for a third straight week. Donald Trump, the U.S. president, warned Iran Thursday that "really bad" things could happen if it fails to reach an "meaningful agreement" over its nuclear program in the next 15 days. Gold spot gained 0.6% despite the fact that it appeared to be heading for a weekly loss, as the U.S. Dollar rose to an almost one-month high. Silver prices rose 3%, and copper also increased. Oil prices fell as traders remained unfazed by Trump's comments, which increased concerns about a possible U.S. Iran conflict. Brent crude futures, and U.S. West Texas Intermediate Crude were both down by more than 0.5%. However, they are expected to make their first weekly gains in three weeks. Investors will also be looking at U.S. The Personal Consumption Expenditures Report, due later today, will provide further insight into the policy direction of the central?bank. Gold miners Lundin Gold, Eldorado?Gold and others beat expectations for fourth-quarter earnings in their after-market earnings reports on Thursday. CLICK 'ON CODES' TO GET CANADIAN MARKETS UPDATES TSX Market Report Canadian Dollar and Bond Report Global Stocks Poll for Canada Canadian Markets Directory (Reporting and Editing by Krishna Chandra Eluri; Reporting by Utkarsh T. Hathi)
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Oil prices rise as US-Iran tensions increase global shares
Global shares rose on Friday, despite heightened tensions about a possible conflict between the United States &?Iran which has helped push oil prices to their highest levels in six months. The?pan European?STOXX 600 Index rose by 0.5%, and is on course for its fourth week of gains. The S&P 500 futures in the U.S. rose 0.4%. Investors will be battling a mix of geopolitical risks, economic signals, and political flashpoints as the session concludes a volatile global asset week. Mabrouk Chetouane is the head of global strategy at Natixis Investment Managers. He said: "Clearly equity investors have adapted to the noise in geopolitical environments." They are still focusing on economic fundamentals rather than geopolitical risk. When you examine metrics like valuations, earnings, and interest rate expectation, things seem to be stable. According to LSEG data, as of?Wednesday 163 STOXX 600 companies had released their quarterly results. Of these, 57.1% were above analysts' expectations. The data shows that 73% of the companies in the S&P 500 who reported their earnings last week exceeded revenue expectations. Nvidia will report its earnings next week, which will be the main focus of markets. Investors will also be analyzing global business activity surveys, U.S. fourth-quarter gross domestic product numbers, and the Federal Reserve’s preferred inflation indicator, the core personal expenditures price index. DOLLAR NOTCHES?WEEKLY GAINS The dollar was headed for the biggest weekly gain in four months in foreign exchange trading, thanks to a patchwork a slightly better U.S. economic data and Fed minutes that indicated policymakers were not in a hurry to lower rates. The dollar has gained about 1% over the past week compared to the euro. This brings the currency common up to $1.1767. Francesco Pesole, ING FX's strategist, said that the dollar's "safe-haven appeal" is generally reduced but fully restored when oil shocks are triggered by geopolitical tensions. The yen fell in Japan after data revealed that the country's core rate of inflation was 2% in the month of January, its lowest pace in the past two years. This could complicate the central bank's path to raise rates. The dollar has gained 1.8% in the last week to 155.4 yen. U.S. Treasuries are steady with 10-year yields of 4.07%. However, the Fed's minutes show a division over how quickly to reduce rates. This has pushed up two-year yields to 3.47%. The yields on Germany's benchmark 10-year Bunds (the euro zone benchmark) were set to decline by 2 basis points this week. OIL SURGES ON US MILITARY BUILDUP Benchmark Brent crude futures reached 6-1/2-month highs above $72 per barrel after U.S. president Donald Trump gave Iran a 10- to 15-day deadline to reach a nuclear deal or else "really bad" things would happen. The political rhetoric has escalated dramatically. Daniela Hathorn, senior market analyst at Capital.com, said that even a limited disruption of shipping lanes or credible threats could cause a supply shock. Kenji Abe said that the news, taken together, had investors avoiding risk. Brent Donnelly, President of Spectra Markets, said: "There doesn't seem to be any point in increasing risk before this weekend's unrest surrounding the Middle East." Today feels like a great day to avoid trouble." Reporting by Niket Nishant in London and Tom Westbrook, Singapore; editing by Kim Coghill and Shri Navaratnam.
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Anglo American suffers $3.7 billion loss due to De Beers write-down
Anglo American reported a $3.7billion loss on Friday, after another writedown of its diamonds business. The miner is pushing ahead with plans to shed its non-core assets as well as complete its merger with?Teck Resources. Anglo has wrapped up an uneven reporting season for London listed mining groups. This highlights the divergent fortunes of the industry as Antofagasta benefitted from rising copper prices, while other diversified peers suffered due to weaker markets in iron ore and diamonds. The company recorded a $2.3bn pre-tax impairment on its De Beers division, reducing carrying value from over $4bn to $2.3bn. Analysts' estimates of EBITDA or core earnings at $6.4 billion was in line. The company declared a $0.23 dividend per share or approximately $200 million. This was down from $0.64 per share or $800 millions a year ago. By 0919 GMT, the company's shares were up 1.7%. Anglo, who in July discontinued its?nickel-and steelmaking coal assets it seeks to sell, wants to focus on iron ore and copper assets. The company announced that it is moving forward on plans to sell De Beers. The company announced that it could partner with Mitsubishi Corp to develop its Woodsmith Fertiliser Project in northern England. It had previously placed the project on maintenance and care. "We ?believe this potential partnership would add optionality and time to pursue further syndication/partnerships," said Goldman Sachs analysts. DE BEERS - SPIN OFF Anglo has revised its value of De Beers following the unit's?third consecutive year of production decline. De Beers also lowered its production forecast for 2026 due to the weak demand and high inventory levels that continue to affect the diamond market. Anglo has already written off De Beers value by $3.5 billion in the last two years. Duncan Wanblad, CEO of Anglo Diamonds told reporters that there was a large supply of rough diamonds on the market. He said that the sale of De Beers was at an advanced level. He said: "We must... reach final binding bids, then choose the partner we wish to work with and negotiate with all parties involved including the Botswana government." Wanblad stated that multiple consortia have shown interest in De Beers. Anglo had put it up for sale to facilitate a wider restructuring. Botswana has announced that it will increase its shareholding. It is already a 15% shareholder, and sources 70% of its annual rough production. Angola is pursuing a stake of 20-30% in De Beers. This proposal is being discussed with other African producers of diamonds, according to a senior official at the Angola mining ministry. Wanblad is "optimistic", he said, that a contract will be signed in the upcoming year. TECK TIE UP Anglo, the only major miner that has secured a deal despite companies being under pressure to increase their copper portfolios announced in September a merger of $53 billion with Teck, which is a stock-only, no-premium transaction. Wanblad, who spoke on Friday, said that he expected the deal to be approved between September and March as China and South Korea's regulatory approvals are still pending. Anglo American and BHP Group, the world's biggest mining company, were both attempting to acquire Anglo. The combined entity will produce over 1.2 million tons of copper per year. The demand for copper, a metal used in the construction and power industries, will increase due to electric vehicles and artificial intelligent. Clara Denina is the reporter. Mark Potter, Jan Harvey and Clara Denina edited the report.
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Anglo American suffers $3.7 billion loss due to De Beers writedown
?Anglo American reported a $3.7billion loss?on Friday, after taking a?writedown?on its diamonds' business. The miner is pushing ahead with its plans to shed its non-core assets as well as complete its merger with Teck Resources. Anglo has wrapped up the mixed reporting season of London-listed mining companies, highlighting the divergent fortunes in this industry. Antofagasta, for example, benefited from rising copper prices, while other diversified groups struggled to cope with weaker markets for iron ore and diamonds. The company declared a $0.23 dividend per share or about $200 million. It booked a $2.3billion pre-tax impairment related to its De Beers division. This was down from $800 million or $0.64 per share a year ago. Analysts' estimates of core earnings (EBITDA) of $6.4 billion are in line. The share price of the company opened London 1.3% higher. Anglo is focusing on iron ore and copper assets after selling its nickel and steelmaking assets in July. The company?demerged their platinum business in May?and announced that it was moving forward with plans for selling De Beers. DE BEERS SPIDER-OFF Anglo reassessed De Beers' value after the unit reported a third consecutive year of production decline. De Beers also lowered its production forecast for 2026 as low demand and high inventories continue weighing on the diamond industry. Anglo has already reduced De Beers value by $3.5 billion in the last two years. Duncan Wanblad, CEO of Anglo Diamonds told reporters that there was a large supply of rough diamonds on the market. He said that the sale of 'De Beers' is well underway. "We have to... finalize?binding offers and then choose the partner we want to work with, and negotiate with all parties involved including the Botswana government," he said. Wanblad stated that multiple consortia have shown interest in De Beers. Anglo had put it up for sale to help with a "broader restructuring". Botswana has already stated that it plans to "increase" its stake. The country is a 15 percent shareholder, and the source of 70 percent of its annual rough-diamond?production. Angola wants to own 20-30% of De Beers. This proposal is being discussed with other African diamond producers. Wanblad is "optimistic", he said, that a contract will be signed in this year. Clara Denina reported. Mark Potter, Jan Harvey and Clara Denina edited the report.
Scientists in Japan have developed plastic that dissolves within hours in seawater
Researchers in Japan developed a plastic which dissolves in the seawater in just a few hours. This could be a solution to a problem that is destroying oceans today and harming animals.
Researchers from the RIKEN Center for Emergent Matter Science at the University of Tokyo claim that their new material breaks up much faster and leaves no residue trace.
The team showed that a piece of plastic vanished from a container of salted water after stirring it for an hour.
The team's research, according to project leader Takuzo Aida, has drawn a lot of interest from the packaging industry.
World Environment Day, which takes place on June 5, is a campaign that encourages awareness of the plastic waste crisis.
UN Environment Programme predicts that plastic pollution will triple by 2040. This would add 23-37 millions metric tons to the oceans every year.
"Children can't choose where they want to live." Aida stated that it is our responsibility as scientists to leave them the best possible environment.
Aida says the new material has the same strength as petroleum-based materials, but it breaks down to its original components upon exposure to salt. These components can be further processed using naturally occurring bacteria. This avoids the generation of microplastics which can harm aquatic life or enter the food supply. He added that salt is present in soil and a five centimetre (two inch) piece will disintegrate on land in over 200 hours.
Aida explained that the material can be coated to make it look like regular plastic. The team is currently concentrating their research on the most effective coating methods. He added that the plastic was non-toxic, not flammable and did not emit any carbon dioxide. Reporting by Irene Wang, Editing by John Geddie & Lincoln Feast.
(source: Reuters)