Western Europe

The Venezuelan government owes Repsol 4,55 billion euros ($5,37 billion), the Spanish energy group said in its report for the first-time on Thursday. Repsol is active in Venezuela since over 30 years, employs staff and is a major partner of the state energy company PDVSA. It is one of a few companies that have been granted a license to run oil and natural gas operations in Venezuela by the U.S. Treasury Department’s Office of Foreign Assets Control. Repsol received a permit in March of last year from the U.S. authorities allowing it to receive PDVSA oil as "payment for debt"....

The cartel office of Germany said that changes in Germany's energy market have increased RWE's, LEAG's and EnBW's clout, which has led to a greater reliance on imports, as well as an increase in supply risks. According to the Bundeskartellamt annual report, which is based on data between May 2024 and April 2025, Germany's move away from flexible energy sources, such as coal, nuclear, and hydroelectric, has made remaining plants more important for meeting demand. The country temporarily activated reserve?stations to meet the energy needs of the crisis caused by Russia's conflict in Ukraine. However, from early 2024 onwards it...

Italy?approved a 2-percentage point hike in the IRAP -corporate tax for energy firms on Wednesday. This will help fund a set of measures aimed to reduce bills for families and businesses that use a lot of energy. A decree viewed by revealed that the move will bring in an extra 1 billion euros (1,18 billion dollars) to the government through 2028. This money will be used to finance the energy bill reductions planned. Meloni, in a social media video, said that the package would have a "significant impact" and guarantee benefits to households and businesses of over 5 billion Euros....

Three trading sources said that global oil firms and traders, including Vitol Trafigura, and TotalEnergies, won the tenders for supplying gasoline and diesel to Libya. The country is allowing large Western players greater access, and reducing imports of Russian petrol. Libya has been overhauling its oil industry for 15 years, following the fall of Muammar Gadhafi. The country produces 1.4 million barrels of crude oil a day, but does not have the refinery infrastructure necessary to process it. It is therefore dependent on fuel imports. Africa's second largest oil producer has changed the way it buys fuel and sells oil...

On Tuesday, Berkshire Hathaway announced a new investment into the New York Times. This marks its return to a sector that Warren Buffett abandoned in 2020 after he sold off his conglomerate’s newspaper business. In after-hours trading, shares of the Times increased by 4% to $76,99. Berkshire reported that it held about 5,07 million Times shares valued at $351.7 million by the end of 2025 in a filing to the U.S. Securities and Exchange Commission. Berkshire filed its U.S. listed stock holdings, which made up the majority of equity in the Omaha-based company. Berkshire also said that it sold 4%...

Investors assessed the risks of a supply disruption after Iran conducted naval exercises near the Strait of Hormuz, just before nuclear talks with the U.S. that day. Donald Trump, the U.S. President, said on Monday that he will be "indirectly involved" in the Geneva talks. He also stated that he believes Tehran is interested in a deal. Trump stated at the weekend that a regime change in Iran would be "the best thing to happen." Brent crude futures fell 0.2% to $68.59 per barrel at 0106 GMT after a 1.3% rise on Monday. U.S. West Texas Intermediate crude oil was...

The Financial Times reported that four EY partners had left the firm because they violated independence rules during their audit of Shell, which led to the termination of the $66 million contract. The report stated that the exits occurred last December, as the accounting firm was rushing to contain the fallout of the 'compliance failures. Shell didn't respond to an immediate?' Shell did not respond immediately to a?'Einenajungiodată conving?zeugnemsprachhneé Ihre EY declined to make sprach EY declines to comment. Shell stated in a July 2025 regulatory filing that EY violated "rules" that require an accounting firm to switch its lead...

The Financial Times reported that four partners had left EY after potential breaches in its audit of Shell, which led to the oil major dropping the accounting firm as its auditor. According to the report, public records and sources familiar with the matter indicate that the partners of one of the "Big Four" accounting and consulting networks left in December. It said that among the four partners who left was a partner who was?ascended to EY's highest ranks only a few months earlier and Gary Donald who led Shell audit. Earlier this month, Shell said it had chosen PricewaterhouseCoopers (PWC)...

On Wednesday, top business leaders called on the European Union to take urgent action to lower energy prices. They said that this was crucial for European industries to be able to compete with the U.S. The message from the industries was timed to land just before EU leaders meet in a Belgian Castle on Thursday for a "retreat". They will discuss how Europe can compete with China and America economically. In a written declaration, CEOs from the city of Antwerp stated that the next five years would be the most challenging in Europe's industrial history. The outcome of the crisis...

TotalEnergies, a French oil major, reported a 13% decline in its fourth-quarter earnings on Wednesday. This was slightly below expectations, as the company's soaring margins from refining fuels, and cash generated by selling stakes in renewables assets, failed to compensate for lower oil and natural gas prices. Total reported a fourth-quarter net profit of $3.8 billion (3,2 billion euros), down from $4.4 billion the year before. According to a LSEG consensus, analysts had predicted $3.9 billion. Total, in an 'year marked by a near doubling of its debt as a result of a series of acquisitions has reduced its share...

Two sources familiar with the matter said that TotalEnergies, the French oil giant, has acquired the remaining 45% of Lukoil's stake in the Zeeland Refinery, located in the Netherlands. Sources did not know whether Total paid for the shares, and if so, how much. Or if they engaged in another agreement, such as a swap of assets with Total's Russian projects, to gain full control. TotalEnergies declined comment. Lukoil didn't immediately respond to an inquiry for comment. In October, the U.S. Treasury issued sanctions against Lukoil to try to pressurize Russia to 'end its war with Ukraine.' This prompted the...

On the first full day of the Milano Cortina Winter Olympics, thousands of people protested in the streets of Milan on Saturday over rising housing costs and concerns about the environment. The march is being organised by housing rights groups, grassroots unions and community centre activists. It aims to bring attention to what activists describe as an unsustainable city model, marked by rising rents and increasing inequality. The Olympics bring to an end a decade of property boom in Milan following the 2015 World Expo. Locals are squeezed by rising living costs, as an Italian tax plan for wealthy new...

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...

Imerys, the minerals group, announced on Thursday that it has halted its project to develop lithium production in Britain. Instead, they will focus on a more advanced venture in France. Imerys British Lithium's project in Cornwall (southwest England) aims to produce over 20,000 tons of lithium carbonate annually and potentially meet the lithium demand for 500,000 electric vehicles. Imerys, in its annual report, said that it had placed the project under care and maintenance. It has suspended active development. "We realized that managing two projects in two countries at the same time was a lot," CEO Alessandro Dazza said to...

London's FTSE 100 fell from its record highs on Thursday as Rio Tinto shares dropped after the global mining company's earnings missed expectations. Meanwhile, simmering tensions between the U.S. and Iran kept investors wary. Blue-chip index dropped 0.5%, after two consecutive sessions of closing at record highs. The mid-cap FTSE 250, which is primarily focused on the domestic market, was down by 0.4%. Rio Tinto dropped 3.6% following the miner's?reporting flat annual earnings. Lower prices at its iron ore business, its mainstay, were offset by a strong performance?in its copper division. Other London-listed companies also fell as copper prices were...

Eramet shares plunged by 22% in France on Thursday, after the company announced a huge drop in its annual earnings and that it was planning to sell assets and increase capital. The mining and metalurgical group announced on Wednesday a core adjusted profit of 372 millions euros ($439million), down 54% since 2024. This was due to a variety of unfavourable circumstances, from low prices to production setbacks. The company also announced that it would not pay dividends in the next two-year period, putting the shares on a course to their worst trading day ever since December 2018. Varun Sikka, an...

French mining group Eramet announced on Wednesday that it would?launch an 500 million euro capital increase ($590.40 millions) and consider selling stakes to some activities in 2026, after a decline in earnings and an increase in debt in the past year. The nickel, manganese, and lithium producer announced the measures at a time when it is also facing a'management crisis' following the firing of the former CEO Paulo Castellari as well as the suspension of the?finance director Abel Martins Alexandre in a matter of days earlier this month. Christel Bories has temporarily taken over the CEO role that she handed...

The price of copper rose on Wednesday after a drop to a low that was more than a week old. Investors bought the dip, and industrial metals prices followed a rebound in tech stocks. As of 1700 GMT the benchmark?copper price on?the London Metal Exchange had risen 2.2% to $12,893 per metric ton, having earlier climbed to $12,941. The metal fell 1.8% Tuesday, reaching its lowest level since February 6. Due to the Lunar New Year, traders in China, a major metals consumer, were mostly absent. Tom Price, a Panmure Liberum analyst, stated that traders "rarely leave significant capital on...

Three people with knowledge of the matter have said that Thyssenkrupp is looking at separating, listing or selling its materials trading division this year. They are also considering changing the legal structure to maintain control in the event of a major sale. Thyssenkrupp Materials Services MX, which represents more than a quarter of Thyssenkrupp sales, is another step forward in the overhaul of the group under CEO Miguel Lopez. This comes after a spinoff of its Defence division and as talks continue to be held about selling its Steel unit. MX, with 11.4 billion euros in sales and more than...

Data from the German Statistical Office revealed on Wednesday that the number of housing permits rose for the first time in 2025 after three years of declines. The office reported that permits were granted last year for the?construction?of 238,500 residential units, in both new and existing buildings. This represents a 10.8% increase compared to 2024 when they reached their lowest level since 2010. The number of building permits reported is a good indicator of future construction. In recent years, the industry has been impacted by rising interest rates and high material costs. Verena Hubertz, German Minister of Construction, said that...

These are the most popular stories from the Wall Street Journal. These stories have not been?verified' and we cannot vouch for their accuracy. U.S. steelmaker Steel Dynamics and?Australian conglomerate SGH have submitted an offer that valued BlueScope Steel's equity at approximately $11 billion. They said they would not raise the price unless another bidder emerged. Warner Bros. Discovery announced?on Tuesday that it would restart deal negotiations with Paramount, setting the stage for a possible bidding war between Netflix and its preferred suitor. Paramount sweetened last week its hostile $77.9billion all-cash offer for Warner Discovery including its cable channels CNN and...

The price of copper fell on Tuesday due to a'stronger dollar' and a rise in inventories at London Metal Exchange-registered storage facilities, as well as low trading volumes because of the Chinese Lunar New Year holiday. Benchmark three-month "copper" on the London Metal Exchange fell 1.8% to $12,619 per metric ton at 1702 GMT, after reaching its lowest level since February 6 (12,586). Metal, which is used for power and construction, has fallen 13% since a record high was reached on January 29,?on the back of a wave speculative purchases, encouraged by expectations that demand would be strong. The high...

Antofagasta, a Chilean miner, posted a 52% increase in its annual core profit on Tuesday, as record prices for copper offset softer output. It also said that increased capital expenditures would support production over the medium-term. Analysts had expected that earnings before interest, tax, depreciation, and amortisation would reach a record of $5.2 billion in 2025, up from $3.43billion a year ago. This was due to the fact that copper prices rose by more than 40%. Antofagasta proposed a final dividend of 48 cents per share for 2025, bringing its dividend payout ratio to 50%. Since more than a decade,...

The Dutch state-owned financial institution Invest International will lend a total of $60 million to the chipmaker 'Nexperia, in order to finance a series of global investments at 'its production sites. The funds will be used to boost production, modernise the production lines and improve productivity. Nexperia in the Netherlands, a unit of China's Wingtech, was caught up in a corporate standoff with Europe after a Dutch state intervention installed an European management team last year. According to the Dutch newspaper FD, this move scared away investors and caused a global crisis in terms of chip supplies for the automotive...