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Texas leaders threaten to create a wind and solar boom through legislative push
Renewables are being hampered by bills that would slow down decarbonisation in a power-hungry stateA renewable energy boom in Texas is under threat at the state legislature, as lawmakers take up new bills that would hobble wind and…
Tesla disrupts the car battery market
The US is seeing electric vehicle manufacturer ramp up production and challenging the Asian battery manufacturers.Most of the world’s electric car batteries are now made in China. Accounting for more than 70 per cent of market share by…
IMF warns that friendshoring is a threat to financial stability and growth.
Fund points for foreign direct investment are increasingly flowing between geopolitical allies.Rising geopolitical tensions have triggered a reshaping of global investment that threatens to depress growth and raise the risk of financial…
Numis: London’s drought to continue
One of Britain's most respected independent investment banks warned that the drought in London stock market flotations is likely to continue until at least the fall.
Numis stated that there was a "continued shortage" of equities…
M&G Fashions protest the Hyve takeover
M&G Investments is leading a shareholder revolt against Hyve's private equity takeover worth PS481 million. It claims it substantially undervalues the international exhibition business.
Hyve announced last month it agreed to…
Canadian miner Teck snubs ‘opportunistic’ Glencore bid
Canada's Teck Resources rejected a £18 billion offer from Glencore. The company had suggested that their coal operations be combined in a major overhaul.
Teck shares rallied 7.16 percent, or 19.6%, to close at $43.66 in New York…
Ford and Chinese partner make a gamble on $4.5bn Indonesian nickel plant
The Biden administration is trying to develop the domestic battery industry by partnering with a Chinese carmaker. This US carmaker has teamed up with a Chinese miner.Ford has announced plans to invest in a $4.5bn battery materials…
Blackstone Fund receives $4.5 billion in withdrawal requests, despite the fact that it is selling…
Breit cannot stop the March conference on sector opportunities from reducing efforts to take money out of BreitBlackstone clients asked to pull $4.5bn from a closely followed real estate fund in March, even as the company’s executives…
MBS, the crown prince of Saudi Arabia, gives Putin his most powerful weapon in the war on
Biden snubs Russia as the West snubs Russia's friendship with Russia
Joe Biden, during his presidential campaign, pledged to make Saudi Arabia an internationally recognized pariah. After that came high inflation and war. …
The World’s Climate Progress is Now in the Hand of a Kingdom Based on Oil
The then-crown prince, Abu Dhabi's oil-rich Abu Dhabi, wondered aloud what would happen to his sheikhdom after the end of the fossil fuel era. At the 2015 Government Summit, Sheikh Mohammed bin Zayed Al Nahyan posed the question to…
Cineworld to emerge from bankruptcy under control of its creditors
Cineworld is likely to emerge from bankruptcy protection, after it reached an agreement with its major lenders for a restructuring that will reduce its debt by more $4.5 billion.
A Chapter 11 filing in the United States will result…
Saudi Arabia Seeks More Deals To Build A $38 Billion Gaming Center
Saudi Arabia's government has placed $38 billion in its potential to be the next video-game hub.
Saudi Arabia's Public Investment Fund aims to be a major player in the $184 million global gaming market as part of its strategy for…
China warns top bankers about a deepening crackdown on corruption
Chinese authorities warned top bank executives late Friday that the crackdown against the $60 trillion industry was far from over. This just as they were about announce the investigation of the country's most senior state banker for…
OPEC+ Will Make Oil Speculators Think Twice with a Shock Cut
Surprise OPEC+ production cuts were aimed at one audience: speculators who believed that oil prices would drop.
This is a return to the strategy Prince Abdulaziz bin Salman, Saudi Energy Minister, used in 2020. He famously stated…
IMF: High inflation boosts public finances
In spite of the deficits of the pandemic, debt as a percentage GDP has fallen in Italy and the US.Higher inflation has bolstered advanced economies’ public finances, the IMF said on Monday, as it called on governments to use the…
US antitrust regulator orders Illumina, $8bn Grail deal to be unwind
Illumina has been ordered by the Federal Trade Commission to sell cancer screening company Grail. Illumina argued that the acquisition of $8bn would hurt competition in the US market for lifesaving tests.
This decision reverses an…
Canada’s Teck Resources refuses to be harmed by Glencore
Teck Resources, Canada has rejected a hostile offer from Glencore. This would have created a giant natural resource company worth more than $90bn. It also led to a massive restructuring of the FTSE 100 miner.
This unsolicited offer…
Why Opec+ is reducing oil production now
Opec+ has stunned oil markets by announcing an unexpected production cut of over 1mn barrels per day. This raised the price of oil and increased tensions with western allies.
What does this mean for the wider market?
Opec+, which…