Finance news

◇ unclassifiedchina · asia

Rescuers snap into action after crocodile found in Hong Kong building

An injured juvenile crocodile has been found in a Hong Kong residential building, prompting a rescue operation by an animal concern group. At about 1pm on Wednesday, police alerted the Society for the Prevention of Cruelty to Animals (SPCA) that a member of the public had reported spotting the reptile at a residential block on Tai Po Road in Sham Shui Po. It was later confirmed to be a juvenile hybrid of a Siamese crocodile and a saltwater crocodile. The SPCA said personnel equipped with rescue.

VLCC Earnings Near $470,000 a Day as Hormuz Hopes Drive Tanker Frenzy

Oil tanker rates have soared since the U.S. and Iran announced the memorandum of understanding as oil importers scramble to charter vessels to pick up Persian Gulf cargoes in the hope these can transit the tentatively reopening Strait of Hormuz. One tanker has been provisionally booked to ship crude from the Persian Gulf to India at a rate that’s nine times the benchmark for the route, shipbrokers told Bloomberg on Wednesday. South Korea’s Sinokor shipping group, which before the war went on a b

18d06/24⚠ sanctions · 3/5

Trump offers Iran an economic lifeline — with strings

Iran has seen a speedy rebound in oil exports after the US-Iran deal granted immediate waivers on US sanctions. Relief on frozen assets and a $300 billion reconstruction fund now hinge on Tehran meeting key conditions.

◇ unclassifiedgermany · europe · iran

Social◇ unclassifiedeurope · usa

35M, 5 years into VWCE only. Thinking about my future steps.

35M, Austrian, working in logistics. 5 years into the standard approach and it's gone fine, just want a second opinion before the next step. My current situation: ~82k total Core is VWCE via monthly Sparplan, the large majority of it ~6% in physical gold (Xetra-Gold), bought in 2022 and left alone since ~4% in a Swiss lending platform Maclear. Started last year, sized as money I could write off Take-home ~3,400 EUR/month after tax, saving ~1,200/month, rent + living ~1,900, no debt Not chasing e

18d06/24⚠ war-conflict · 2/5

China offers rewards for reporting rare earth export control violations

Beijing is sharpening the tools it uses to police rare earth and other strategic mineral exports, announcing fresh measures that will reward companies and individuals for reporting suspected violations. The announcement came on Wednesday, the same day Tokyo confirmed that two of its nationals had been detained in China over alleged attempts to smuggle rare earth-related goods out of the country. “Any organisation or individual has the right to report conduct suspected of violating relevant laws.

◇ unclassifiedchina · asia · japan

18d06/24⚠ shipping-routes · 2/5

At Summer Davos in China, Mideast firms look to next generation to repair the Gulf

China may be seen as a potential mediator in the Middle East but economic integration within the region is more likely to drive change there, according to observers at the World Economic Forum’s annual meeting in the northeastern Chinese city of Dalian. The “Summer Davos” gathering in Liaoning province this week comes as Washington and Tehran try to reach agreement on Iran’s nuclear programme and the reopening of the Strait of Hormuz. The two countries have agreed to halt fighting “on all...

◇ unclassifiedmiddle-east · usa · australia

Woodside Wins Contract to Supply Gas to Alcoa

Woodside executed an agreement with Alcoa to supply the alumina maker with 31.1 petajoules of Western Australian natural gas from 2027 to 2030.

Adani Targets 10 GW Nuclear Power Capacity in India by 2035

Adani Group, the conglomerate of Indian billionaire Gautam Adani, could become India’s biggest private nuclear power capacity developer within a decade, targeting 10 gigawatts (GW) by 2035, as India opened its civil nuclear power sector to private investment. “Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future,” Gautam Adani said at the annual general meeting of Adani Group on Wednesday. “With land identified and a

◇ unclassifiedgermany · europe · uk

Energy: Electricity prices reach highest value of the year due to the “heat lull”.

Little production in the evening, but high demand: The heat wave in Europe is causing fluctuations in electricity prices. But experts don't think this is a problem.

◇ unclassifiedgermany · europe · iran

Ifo business climate: Something is moving in the industry

The Iran war has had less of an impact on the German economy than expected. In the Ifo business climate survey, companies reported a better business situation in June.

◇ unclassifiedchina · asia · russia

China’s telecoms giants bet on ‘air-space-ground-sea’ networks for future AI needs

China’s telecoms giants are pushing for “air-space-ground-sea” networks amid Beijing’s push to expand artificial intelligence infrastructure, as SpaceX’s market debut has ignited the industry’s focus beyond the Earth. At the opening of the Mobile World Congress (MWC) Shanghai on Wednesday, telecommunications executives framed the next phase of infrastructure as one that needs to encompass both the skies and oceans to meet skyrocketing demand for AI computing. Wang Tao, rotating chairman of...

◇ unclassifiedgermany · europe

Armament projects: Ministry of Defense declares end of frigate F126

First the flop with the German-French air combat system FCAS, now the end for the F126 frigate project. Within a few weeks, two major projects collapsed, albeit for different reasons.

◇ unclassifiedgermany · europe

Electromobility: With these seven tips, you can have a successful vacation with an electric car

Even long vacation routes can be easily managed electrically. However, a little preparation makes sense. Seven tips for a relaxed journey.

◇ unclassifiedchina · asia · russia

Ukraine drones knock out power in Russia-held Crimea’s biggest city

Ukrainian drones knocked out power in Sevastopol, the biggest city in Russian-held Crimea, on Wednesday and targeted facilities in central and southern Russia, local officials said, underscoring the reach of Kyiv’s attacks on energy infrastructure. Ukraine has intensified strikes on Russian oil refineries, depots and supply routes this year, pushing up petrol prices in Russia, where ‌authorities have limited sales in some regions. Fuel shortages have been particularly acute on the Crimean...

China targets face of international space cooperation in corruption crackdown

Senior Chinese defence industry official Bian Zhigang is under investigation for corruption, the latest high-profile target in Beijing’s sweeping crackdown on its military sector. Bian, deputy head of the State Administration of Science, Technology and Industry for National Defence (SASTIND), was suspected of “serious violations of discipline and law”, the Central Commission for Discipline Inspection (CCDI) said on Wednesday, using its usual term for corruption and bribery. The CCDI is China’s..

China’s Teapot Refineries Cut Operations to Their Lowest Level Since 2017

The independent refiners in China, the so-called teapots, have slashed their refinery run rates to the lowest level since 2017, as high feedstock prices, weak domestic fuel consumption, and restricted exports have hit margins. Refinery runs at the refiners in the Shandong province slumped to just 50.5% last week, per data from consultancy JLC cited by Bloomberg. These run rates are even lower than in 2020, when the pandemic hit China’s fuel consumption. The current utilization rates are at the l

◇ unclassifiedusa · europe · germany

Germany scraps F126 frigate program, pivots to MEKO warships amid cost and contractor chaos

Germany Navy leaders have already blessed the fallback ships as capable of meeting NATO capability requirements, but an alliance deadline looms.

◇ unclassifiedmiddle-east · usa · norway

Norway Well Workers Continue Strike as Standoff Escalates

The affected companies - including Baker Hughes, Halliburton and SLB - imposed a legal work halt to force the workers into agreeing to terms proposed under government mediation.

Social◇ unclassifiedgermany · usa · europe

FTSE All World + Gerd Kommer ETF makes sense?

Hello everyone, I'm currently only saving for the FTSE All World ETF and I'm very happy with it. But I'm thinking about starting a second savings plan on the Gerd Kommer ETF in the future. I wouldn't sell anything from the All-World, but rather the savings rate in the future, for example. B. split into 75% FTSE / 25% Gerd Kommer ETF. (I currently have almost 70k in the FTSE and a savings rate of 300-500 euros per month, which changes a little depending on my income.) The commercial ETF brings with it a higher weighting

Chinese-Filipino groups downplay Sinophobia over earthquake aid in Philippines

Chinese-Filipino business groups have sent aid to earthquake-hit residents in the southern Philippines, continuing their tradition of providing disaster relief at a time when worsening Manila-Beijing ties have complicated public perceptions of people and organisations linked to China. In General Santos City, among the areas hardest hit by the devastating 7.8-magnitude earthquake that struck the country on June 8, local officials and survivors said politics had little place in disaster recovery..

India Cuts Coal Imports as Power Plants Turn to Domestic Fuel

India is boosting the share of domestic coal used in power plants designated to run on imported fuel, as rising local coal production and expanding renewables have helped to cut coal imports to multi-year lows. India has raised the use of domestic coal to 50% at many power plants that have typically run on imported coal, industry and government officials told Reuters on Wednesday. Power producers are currently running the coal-fired power plants on a mix of imported and domestic coal, and some p

◇ unclassifiedchina · asia

Philippines’ worst school shooting puts social media, games in the dock

After two teenagers opened fire at a Philippine high school this week, the first question lawmakers asked was not about gun control, but the internet. Three pupils were killed and 20 injured at San Jose National High School in Tacloban City, Leyte province, on Monday – the highest total casualty count of any Philippine school shooting. It has renewed calls to restrict Filipino children’s access to social media and online games, coming months after police said they had disrupted a school shooting

◇ unclassifiedgermany · europe

ebm-Pope: The fan valley cools the world's data centers

Because AI computers need to be cooled, EBM-Papst can hardly keep up with the construction of fans. It's good that a competitor just a few villages away is helping to meet demand.

18d06/24⚠ shipping-routes · 2/5

Qatar Says LNG Exports Could Return to Normal Within Weeks

Qatar will be back to normal production of liquefied natural gas in a few weeks, the country’s prime minister, Sheikh Mohammed bin Abdulrahman al-Thani, told the Financial Times today. “Within a few weeks, production will come back to normal, except the damaged facility,” he said. “Our teams have been mobilised already for a few weeks. QatarEnergy is preparing for operations to come back to normal as soon as the situation in the strait normalises.” Al-Thani also told the FT that it was essential

◇ unclassifiedmiddle-east · usa · europe

US, Qatar Push Back against EU Methane Rules

The countries asked for a 'pragmatic approach' to clarifying the rules and adopting changes to allow importers to continue to obtain oil and gas needed by the EU.

◇ unclassifiedmiddle-east · usa

Asian Demand for Mideast Oil Slows after Splurge

Asian refiners have slowed purchases of Middle Eastern crude after a buying spree over the past three weeks, with oil majors and traders stepping in to take some of the surplus barrels.

Malaysian Major Makes Gas Discovery in Suriname

Malaysia’s state energy firm Petronas has made a natural gas discovery offshore Suriname, the country’s president said this week, as quoted by Reuters, expecting the Malaysian major to make the final investment decision on the development of Block 52 by the end of the year. “To date, we have made eight successful exploration discoveries, unlocking over more than one billion barrels of oil equivalent, while continuing advancing lower-carbon solutions, safe operations and investment in people, tec

Anti-war protesters jeer Japan’s Takaichi over softening pacifist stance

Japanese Prime Minister Sanae Takaichi was heckled at a World War II memorial event by protesters angry about Tokyo’s further shift away from its decades-long pacifist stance, television footage showed. Close US ally Japan in April loosened rules on lethal arms exports and Takaichi, long seen as a security hawk who last year riled mainland China with comments about Taiwan, has said she wants to revise the constitution. A small but vocal number of demonstrators shouted slogans throughout...

Trump Orders Gas Price Gouging Probe

President Trump has ordered an investigation into possible price gouging at fuel stations, an investigation he announced in a social media post. “The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping ‌like a rock! In other words, customers are being "gouged",” Trump wrote. “I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster tha