Western Europe

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines UK announces final approval for flagship carbon-capture project Davos founder accused by World Economic Forum of manipulating research Bailey: BoE must "take seriously" the risk of Trump tariffs to growth London Metal Exchange to introduce premium for green metals View the full article The UK government and Italian energy giant Eni will announce the final approval for a 38 mile pipeline that will collect carbon dioxide from industrial facilities around Liverpool and Manchester, and bury it off-shore....

Petrobras, the state-run Brazilian oil company, said that its board of directors had authorized it to sign a settlement agreement with Unigel Chemical Company to settle a legal dispute over two fertilizer factories in northeastern Brazil. Petrobras stated in a filing of securities that the agreement would restore Petrobras ownership over two fertilizer factories located in Sergipe state and Bahia state. Petrobras announced that the plants would resume operations after a process of bidding to contract for services to operate and to maintain them. The deal, however, still needs to be approved internally within Unigel, and it must also meet...

The oil prices dropped by about 1% after the nuclear talks between Iran and the United States progressed. This eased concerns that this dispute would reduce the supply of the Middle Eastern major producer. Brent crude futures fell 70 cents or 1.03% to $67.26 per barrel at 0030 GMT, after closing 3.2% higher on Thursday. U.S. West Texas Intermediate Crude was trading at $64, down 68 cents or 1.05% after closing up 3.54% the previous session. Last week, Thursday was the final settlement day due to the Good Friday holiday. Iran's Foreign Minister said that the U.S. had agreed to...

According to four sources with knowledge of the matter, the board of Brazilian state oil company Petrobras approved plans on Thursday to select a new partner to restart its fertilizer factories in northeastern Brazil. Sources who asked to remain anonymous because the decision had not been made public said that the move hinged on the resolution of ongoing disputes with the current leaseholder, Unigel. The chemical company Unigel demanded compensation from Petrobras, according to previous reports. This impasse marked a setback in President Luiz-Inacio Lula's plan to reduce Brazil's dependence on imported fertilizer. Brazil, a major agricultural powerhouse in the...

Giancarlo Giorgetti, the Economy Minister at a Thursday hearing in parliament, said that Italy would meet NATO's target of 2% GDP on defence expenditures this year. According to NATO, Italy's projected defense budget for 2024 is 1.49% GDP. This is one of the lowest levels of any country in the alliance. The United States are putting pressure on Italy to increase its expenditures. Giorgetti, speaking to lawmakers about Italy's multiyear budget plan, said: "We are acutely conscious of the need for this expenditure to increase in the coming year." Giorgetti stated that Italy's accounting criteria would need to be adjusted...

Putin's investment representative said that the meeting between Russian President Vladimir Putin and U.S. president Donald Trump's Special Envoy Steve Witkoff, was very productive. However, various countries were trying to disrupt dialogues between Moscow Washington. Putin and Witkoff spoke for nearly five hours in St. Petersburg, the former imperial city. Yuri Ushakov and Kirill Dmitriev, Putin's investment envoy, were also present. Kirill Dmitriev, a reporter in the Kremlin at the time of a visit to Moscow by Qatari Sheikh Tamim Bin Hamad al-Thani, said that "the meeting was extremely fruitful." Dmitriev added that a variety of unidentified media spread misinformation....

Hazeltree, a data and technology firm, said that shortsellers had targeted a broader range of equity sectors before President Donald Trump announced his "Liberation Day", or April 2, tariff announcement. They also raised negative bets against a group of large tech stocks. Super Micro Computer was the most popular security. It knocked oil and gas producer Chevron from the top spot it held for two months. Prior to this, tech stocks dominated the top 10 list of most-shorted U.S. Large Caps. Hazeltree reported that only five of the top 10 stocks most shorted in March were tech shares, compared to...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines Gerry Cardinale’s RedBird evaluates takeover of UK’s Telegraph newspaper Trump administration stops Equinor’s $5 billion New York energy project British Steel's Chinese Owner says UK Government must "respect" its rights - Lyft buys European taxi app FreeNow in 175 mln euros deal View the full article RedBird Capital Partners, a company owned by Gerry Cardinale, is preparing plans to acquire The Telegraph to end the two-year-long sale of this British newspaper group. The U.S. has stopped a...

HSBC reduced its Brent crude forecast on Tuesday. It cited rising trade tensions as well as an expected decrease in global oil consumption. The Bank cut its Brent Price Forecast to $68.5 per barrel in 2025, and $65 for 2026. The company also reduced its forecast for global demand growth in 2025 to 0.7 million barrels per day (mbd), and to 0.8 mbd in 2026, compared to the previous 0.9 mbd. This was due to an expected one-percentage point drop in global GDP. The ambiguous U.S. policy on trade has created uncertainty in the global oil market and prompted the...

Microsoft announced on Tuesday that it had signed a contract in Louisiana for a project which would remove 6,75 million metric tonnes of carbon dioxide within 15 years. Microsoft claims this is the largest permanent carbon removal project ever undertaken. Microsoft's greenhouse gases emissions last year were 29.1% more than the 2020 levels due to a growing demand for energy in artificial intelligence applications. It reported greenhouse gas emission of 17.2 millions tons annually at the end 2023. AtmosClear, a company that specializes in carbon capture, is developing a bioenergy project at the Port of Greater Baton Rouge. The project...

The government has said that the energy regulator in Britain is expected to announce major grid connection reforms on Tuesday to encourage investment in clean energy projects and infrastructure. It said that under the current system, "zombie projects" can cause a delay in the connection queue, leaving businesses to wait up to 15 years for a connection. The zombie project is a speculative plan that, while it may not be feasible due to lack of land rights or funding, still holds a spot in the queue. Ofgem is expected to confirm changes that will allow industries to connect faster, including...

According to the chairman the Saudi Arabian Automobile and Motorcycle Federation, after sponsoring and hosting a Grand Prix, Saudi Arabia could own a Formula One Team. Prince Khalid bin Sultan Al-Abdullah Al-Faisal, in a video conference with reporters ahead of the race this weekend in Jeddah, said that there was interest. He said: "It's possible, and it might happen soon. "If you're going to buy an F1 team, people will do it for the money. Especially if one of PIF's (Saudi Public Investment Funds) companies is going to purchase it. "We are seeing Formula One reaching new markets and sales...

Gold prices rose more than 1% Thursday, thanks to bargain-buying. This comes a day after bullion fell to a new low of the week amid optimism about the U.S. China trade agreement. As of 0312 GMT, spot gold increased 1.5% to $3335.39 per ounce. U.S. Gold Futures rose 1.5% to $3344. Bullion that does not yield, which is traditionally viewed as a hedge to global instability, reached a record-high of $3,500.05, but dropped below $3,300 on Wednesday. The volatility we are seeing this week has been driven by headline and technical risk. The fundamentals remain strong so investors are buying...

The mining ministry announced on Tuesday that the Chilean government is moving ahead with a simplified procedure to award contracts for lithium in three salt flats. The agency announced that it had accepted applications from Eramet for the Agua-Amarga salt plain; Eramet, Quiborax and the state-copper giant Codelco for the Ascotan Salt Flat; and the Caliche Kairos Consortium for the Coipasa Salt flat. The leftist president Gabriel Boric has introduced a plan that will increase state control of lithium, which is a key metal in electric vehicles and energy transition in 2023, and create public-private partnerships in order to expand...

The copper price hit its highest level in over two weeks on the Monday after a weaker US dollar triggered fund purchases. However, traders are unsure that this upward momentum will continue as long as U.S. tariffs dominate sentiment. The levy imposed by Donald Trump has harmed the outlook for economic growth in the world and for demand for industrial metals. By 1126 GMT, the benchmark copper price on London Metal Exchange (LME), which had reached its highest level since April 4, was now up 1.5% to $9,325 per metric tonne. One copper trader stated that the market was not...

The shares of British currency management firm Argentex, which is based in London, were suspended on Tuesday. Argentex said that the sharp drop in the U.S. Dollar had caused a serious deterioration in its liquidity. The company stated in a filing that "Argentex is exposed to significant volatility of foreign exchange rates... As a result, (it) experienced a rapid impact on its short-term liquidity position due to, inter alia margin calls related to its FX Forward and Options books." It stated that it has the support of its main liquidity provider, and is looking to strengthen its positions. However, "in...

The copper price in London reached a two-week-high on Tuesday. This was due to a sharp drop in the dollar, as Donald Trump's harsh criticism of the Federal Reserve Chairman shook the confidence of investors in the U.S. As of 0350 GMT, the benchmark three-month price for copper on London Metal Exchange (LME), was up by 1.2% to $9,302.5 a metric tonne. It briefly reached $9,319.5 per ton, its highest level since April 4. After a weekend break for Easter, the LME returned on Monday. The Shanghai Futures Exchange's (SHFE) most-traded contract for copper rose by 0.6%, to $10,525 per...

Shanghai copper prices rose on Monday, as the dollar fell to its lowest level in three years. However, a trade war between China and the U.S., the top metals consumer in the world, is likely to limit any further gains. As of 0342 GMT, the most traded copper contract at the Shanghai Futures Exchange was up 0.6%, trading for 76,480 Yuan ($10 494) per ton. London Metal Exchange (LME), is closed for Easter Monday. Dollar plunged Monday, as investor confidence in U.S. economics took another hit due to President Donald Trump’s plans to shake-up the Federal Reserve. This would put...

Shanghai copper prices rose slightly on Monday, as the dollar fell to its lowest level in three years. However, a continuing trade tension between the U.S., which is the world's largest metals consumer, and China was likely to limit any further gains. As of 1400 GMT, the most traded copper contract at the Shanghai Futures Exchange was up 0.2%, trading for 76150 yuan per ton ($10,443.38). London Metal Exchange (LME), is closed for Easter Monday. Investor confidence in the U.S. economic system took a further hit as a result of President Donald Trump's plans for a shake-up at the Federal...

The copper prices in Shanghai increased on Friday, as the possibility of an end to the titt-for-tat tariff increases between the U.S. As of 0355 GMT, the most traded copper contract at the Shanghai Futures Exchange rose 0.3%, to 76.040 yuan (10,421.58) per ton. Good Friday is a holiday in London. The London Metal Exchange will be closed. Trump said on Thursday that he did not plan to increase tariffs on Chinese imports. In response to Beijing counter-measures the U.S. has increased rates on Chinese imports. The latest White House factsheet states that China faces a tariff of up to...

The copper prices in Shanghai increased on Friday as the possibility of an end to the titt-for-tat tariff increases between the U.S. As of 0150 GMT, the most traded copper contract at the Shanghai Futures Exchange rose 0.4%, to 76130 yuan per metric ton ($10,428.05). Good Friday is a holiday in London. The London Metal Exchange will be closed. Trump signaled on Thursday that he doesn't intend to increase tariffs on Chinese imports. Trump increased tariffs on Chinese imports to 145% after Beijing responded with countermeasures. China's own message that tariffs would not be raised further was sent last week...

Official data show that the gold, which traders had been shipping to New York as a precautionary measure against possible U.S. import tariffs on bullion, is now being sent back to Switzerland. Swiss customs data released on Thursday revealed that gold imports to Switzerland from the U.S. reached a 13-month high in March of 25.5 tons, up from 12.1 tonnes in February. The Swiss gold exports to the U.S. dropped 32% on a month-to-month basis to 103.2 tonnes. U.S. gold warehouses, approved by Comex and part of CME Group, have experienced eight days of gold outflows. Daily Comex data revealed...

Three people familiar with the matter said that TK Elevator owners are considering the United States for a possible initial public offering (IPO) next year, despite the market turmoil caused by U.S. Tariffs, which has slowed the pace of dealmaking. The people, who spoke on condition of anonymity as the matter was private, said that the discussions are still at an early stage, and the preparations will be formalised by the end of 2025 with a view of conducting a company sale or listing next year. People said that the business would likely be valued at over 20 billion euros...

The copper price fell in London Thursday, under the pressure of a stronger dollar. However, it remained within a narrow range, despite lower trading volumes before a four-day break for Easter. There was also no sign that the trade war between China and the U.S. had de-escalated. By 1019 GMT, the benchmark three-month price of copper on London Metal Exchange was down by 0.9% to $9,120.50 per metric tonne. Metals that are important for growth have lost 6% this month due to an escalating global trade war. The two biggest economies in the world have imposed triple-digit import duties on...