21 May

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RWE and BASF plan $4.9 billion wind power project By Reuters

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FRANKFURT (Reuters) -Chemicals giant BASF and German utility RWE on Friday announced a potential 4 billion euro ($4.9 billion) offshore wind power project to cut emissions at Germany's most energy-intensive industrial site. As part of the project, which depends on more favourable legislation, RWE plans to build a 2 gigawatt (GW) offshore wind park by 2030 to help to supply BASF's Ludwigshafen chemicals complex, Germany's single biggest electricity consumer. BASF will own 49% of the wind park, RWE CEO Markus Krebber said, adding that while 80% of the farm's output would go to Ludwigshafen, the remaining...

21 May

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Generalist funds flow back into mining as prices, inflation climb By Reuters

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By Zandi Shabalala and Clara Denina LONDON (Reuters) - Surging prices for commodities, stronger balance sheets and rising inflation have lured back to mining stocks generalist investors that for years shunned the sector, data shows. Shares in diversified mining companies Rio Tinto (LON:RIO), BHP, Anglo American (LON:AAL) and Glencore (LON:GLEN) have doubled in the last year, as policy support measures in advanced economies in response to the COVID-19 pandemic stoked inflation. Commodities serve as a hedge against inflation, meaning their prices are expected to stay strong, and at the...

21 May

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Azerbaijan says it is discussing solar energy production in Karabakh with BP By Reuters

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BAKU (Reuters) -British oil major BP (LON:BP) and Azerbaijan are discussing setting up a solar energy production facility in Karabakh, Azeri President Ilham Aliyev said on Friday, according to a video released by the state news agency Azertag. "Now both BP and Azerbaijan are very actively working on renewable sources of energy ...

21 May

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France says U.S. offer on global minimum tax rate is basis for compromise By Reuters

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PARIS (Reuters) -The latest U.S. proposal in international talks on a global minimum corporate tax rate is a basis for compromise, French Finance Minister Bruno Le Maire said on Friday. The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15%, a rate significantly below its proposed 21% minimum for U.S. multinationals. "The last proposal made by the United States could be a good compromise," Le Maire said as he arrived for talks with euro zone counterparts in Lisbon. "But the key question is clearly to have a...

21 May

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U.S. Treasury floats global corporate tax of at least 15% By Reuters

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By David Lawder WASHINGTON (Reuters) - The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms. The department said the proposal was made during an Organization for Economic Cooperation and Development (OECD) tax steering group meeting on base erosion and profit shifting. The group is aiming to reach broad agreement this summer to rework rules for taxing multinational corporations and big technology companies such as Alphabet (NASDAQ:GOOGL) Inc and Facebook Inc...

21 May

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Bank of England aims for greener corporate bond portfolio By Reuters

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By David Milliken LONDON (Reuters) -The Bank of England set out plans on Friday to make its 20 billion pounds ($28.4 billion) of holdings of sterling corporate bonds better aligned with government goals to achieve net zero carbon emissions. However, the central bank will not embark on an immediate sell-off of bonds issued by businesses that have high carbon emissions, such as power utilities and oil companies when it begins the rebalancing process later this year. "Divestment is a powerful tool, and should remain squarely in the toolkit. But it should be used as a credible...

21 May

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Taiwan presses U.S. health secretary on COVID vaccines By Reuters

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By Yimou Lee and Ben Blanchard TAIPEI (Reuters) -Taiwan's health minister said on Friday he had spoken to his U.S. counterpart to ask for help in obtaining COVID-19 vaccines amid a spike in infections on the island and the U.S. health secretary would take the matter to President Joe Biden. The news drew a swift rebuke from China, where Foreign Ministry spokesman Zhao Lijian told reporters in Beijing that Taiwan was using the pandemic for "political manipulation". Beijing routinely condemns any high-level contacts between Washington and the island which China claims. Having for months been held...

21 May

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UK lender Amigo’s shares tumble as future in limbo By Reuters

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By Iain Withers LONDON (Reuters) -Shares in guarantor lender Amigo, which is awaiting a court decision on a rescue plan, fell as much as 50% after a temporary suspension of share trading was lifted on Friday. Amigo applied to the High Court for permission to cap compensation payments to customers, saying a deluge of mis-selling claims threatened it with collapse. Subprime lenders in Britain have come under pressure from a regulatory clampdown on high cost credit providers in recent years and the pandemic has added to the strain. Amigo's rival Provident Financial (LON:PFG) quit...

21 May

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Tesla cars barred from some China government compounds – sources By Reuters

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BEIJING (Reuters) - Staff at some Chinese government offices have been told not to park their Tesla Inc cars inside government compounds due to security concerns over cameras installed on the vehicles, two people with knowledge of the matter said. The people said officials of at least two government agencies in Beijing and Shanghai have been instructed verbally by supervisors not to park their Tesla electric cars at work. It wasn't clear how many cars were affected, the people said, declining to be identified due to the sensitivity of the matter. It wasn't...

21 May

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Investors shun tech, rush for inflation protection – BofA By Reuters

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LONDON (Reuters) -Investors pumped money into inflation protection and dumped some tech stocks, BofA's weekly fund flow data showed on Friday, as U.S. Federal Reserve policymakers hinted at discussing tapering of government bond purchases "at some point". In the week to May 19, $1.1 billion left technology funds, the largest outflow since December 2018. Gold funds attracted $1.3 billion, BofA said. Tech stocks are particularly sensitive to rising interest rate expectations because their value rests heavily on future earnings, which are discounted more deeply when rates go up. Investors cut overweight positions on technology stocks to...

Меню

RWE and BASF plan $4.9 billion wind power project By Reuters

Generalist funds flow back into mining as prices, inflation climb By Reuters

Azerbaijan says it is discussing solar energy production in Karabakh with BP By Reuters

France says U.S. offer on global minimum tax rate is basis for compromise By Reuters

U.S. Treasury floats global corporate tax of at least 15% By Reuters

Bank of England aims for greener corporate bond portfolio By Reuters

Taiwan presses U.S. health secretary on COVID vaccines By Reuters

UK lender Amigo’s shares tumble as future in limbo By Reuters

Tesla cars barred from some China government compounds – sources By Reuters

Investors shun tech, rush for inflation protection – BofA By Reuters

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