Source: CEOs of Chevron Qualcomm and Pfizer will attend US-Saudi event.
According to a source with knowledge of the event, CEOs from Chevron and Qualcomm will be attending the U.S.-Saudi Arabia Investment Forum in Washington this week, during the visit by Saudi Crown Prince Mohammed bin Salman. Bin Salman is expected to highlight the increasing business ties between Saudi Arabia and the United States during his first visit to the U.S. in 2018. The event will take place at the John F. Kennedy Center for the Performing Arts on Nov. 19.
Siemens Healthineers CEO: We could sell diagnostics division by 2030
Siemens Healthineers has yet to speak with any potential buyers but is considering spinning off or divesting its diagnostics division after restructuring it by 2030. The CEO Bernd Montag said that it was possible that the Diagnostics Business would no longer be a part of the Medical Technology Group in 2030, if this is deemed to be better for the Division. This was stated at a Monday press conference on the sidelines its Capital Markets Day.
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters.The landmark UN COP21 climate agreement signed in Paris on December 12, 2015 saw 195 nations commit to setting binding targets to reduce greenhouse…
As yttrium shortages grow, a new rare earth crisis is on the horizon
Due to Chinese export restrictions on yttrium, global supplies are in short supply. This has led to fears of shortages, and a rise in costs, which could affect aerospace, energy, and semiconductor production. In April, China, which is the primary source of this element, used in coatings that protect against high temperatures and in alloys for engines, limited exports, along with six others rare earths, in response to U.S. duties. The dispute is not fully resolved despite the high-stakes summit between U.S.
COP30: Brazil seeks biofuel boom, but critics query climate impact
Timothy Searchinger is a senior research scholar from Princeton University. He said that when land produces fuel instead of food someone else will have to clear more land or eat less. Biofuels are counted at zero, so countries believe that they have cut emissions. He said that in reality, the pressure is shifted onto food and land systems. India has already shown signs of this pressure. It has increased the percentage ethanol in petrol, and saved $12 billion on oil imports over the last decade.
Germany reduces plans for new gas-powered generation as part of the decarbonisation compromise
Germany has reduced the amount of gas fired power capacity that it plans to develop, to about 10 gigawatts. This is half of what was planned at the beginning of the year. The goal is to strike a balanced between decarbonisation, and supporting intermittent renewables. Friedrich Merz, the conservative Chancellor and his Social Democrat coalition partner reached a decision late Thursday night. It was a compromise that sought to satisfy…
Siemens Energy will pay dividends for 2025 and raises the mid-term outlook
Siemens Energy announced on Thursday it will pay its first dividend for four years, and has also raised its outlook mid-term due to strong demand in gas turbines and transmission technology. Christian Bruch, CEO of the company's wind-turbine division, said that the success "was hard-earned" and not a result of chance. He was referring to the years of cost cutting and restructuring in response to a quality crisis. Siemens Energy has recommended a dividend payout of 0.70 euros per share ($0.82) for the fiscal period that ended in September.
Wall Street falls as Nvidia slides and investors worry that Fed could slow rate cuts
Wall Street finished sharply lower Thursday with Nvidia, and other AI heavyweights as investors scaled down expectations of rate cuts due inflation concerns and disagreements among central banks about the U.S. economic health. After a 43-day record shutdown, which had caused investors to worry and disrupted economic data flow, the U.S. Government reopened. In recent days, a growing number of Federal Reserve officials have expressed reluctance about further rate cuts.
Wall Street falls as investors worry about rate cuts
Wall Street fell on Thursday with Nvidia, and other AI heavyweights suffering steep losses as investors scaled down expectations of rate cuts because of inflation concerns and disagreements among central banks about the U.S. economic health. The U.S. After a 43-day record shutdown which had alarmed investors and disrupted economic data flow. Federal Reserve policymakers have in recent days shown hesitation in reducing interest rates further.
Chevron aims to increase cash flow by 10% annually through 2030 and cut costs even more.
Chevron announced on Wednesday its plans to increase oil and gas production and grow free cash flow annually by more than 10 percent through 2030, all while reducing costs and capital spending. Chevron announced its new guidance on Wednesday at their investor day. The company has been working to improve efficiency following a restructuring that took place earlier this year, which included the layoff of up to 20 percent of employees or approximately 8,000 people.
Made in Nigeria: Africa's drive to become a solar superpower
In pink overalls they pack the tested products to be shipped from the Salpha Energy solar assembly plant near Calabar, West Africa. It's not happening at home anymore. Salpha Energy, which began in 2017, has produced solar power systems for over two million Nigerian households and businesses. It aims to produce up to 300,000. Salpha Energy is part and parcel of the green leadership that Africans attending the U.N. COP30 Climate Summit in Brazil want to promote and showcase.
RWE Reports Near 15-Year High Boosted by Data Center Sale
RWE, Germany's largest power producer, reported higher-than-expected profit for the first nine months of the year, boosted by a 225 million euro ($262 million) book gain on the sale of a data centre project to a large unnamed cloud service provider.Shares in RWE, which is also the world's second-biggest developer of offshore wind projects, rose as much as 7% to their highest level since March 2011. They were last trading 6.7% up.The sale of the facility…
Chevron targets 10% cash flow growth annually through 2030 and higher cost reduction
Chevron announced on Wednesday its plans to increase free cash flow and oil and gas production by over 10% per year through 2030, and reduce costs and capital expenditures. Chevron announced new guidance on its investor day as part of an effort to improve the efficiency of the company following a restructuring earlier this year that included layoffs. After a delay of a year, the company completed its acquisition of Hess for $55 billion in July. This had prevented it to give long-term financial advice until now.
Australia shares are up as lithium miners shine but tech stocks hold gains.
The benchmark index of Australian shares rose a little bit on Wednesday, as lithium stocks led the rally in commodities stocks. A slump in technology stocks dampened the gains. By 2352 GMT, the S&P/ASX 200 Index rose by 0.2% to 8,836.90. The benchmark index ended Tuesday 0.2% lower. Copper prices have pushed domestic miners to their highest levels since October 22. Mineral Resources, a lithium miner, also gave the sub-index a boost. Its stock rose 10.8% and reached its highest level since 10 October 2024.
Dow closes at record high; traders bet against government shutdown
The Dow Jones Industrial Average closed at a record-high on Tuesday. This was boosted by progress in ending the longest U.S. Government shutdown. Nvidia, and other companies related to artificial intelligence, fell due to renewed concerns over high valuations. The Polymarket betting platform has fully priced in a resolution for this week, as members of the U.S. House of Representatives returned to Washington, after a break of 53 days, for a possible vote that would end the government shutdown. "Expectations are the shutdown will be over.
At COP30, California Governor Newsom blasts Trump for 'dumb' US climate policy
California Governor Gavin Newsom told an audience at the COP30 Climate Summit in Brazil that California would continue to prioritize the use of green technology while criticizing U.S. president Donald Trump's decision to reverse federal government policy on climate change. He lamented, at a meeting with Germany's Vice Minister for Climate and other state officials, that the Trump administration was censuring the clean energy market to China. Newsom, in his first of many scheduled appearances in Brazil's Amazonian city of Belem at the U.N.
Newsom assures California's climate'reliable partners' at the COP30 summit in Brazil
California Governor Gavin Newsom arrived in Belem, an Amazonian city, with a message to the COP30 Summit: despite Washington's abandonment the state will remain a "reliable" partner on climate policy and eco-technology. Newsom, a strident opponent of U.S. president Donald Trump, has been hinting at a presidential run in 2028 for months. He is scheduled to meet officials from some 195 countries that are attending the U.N. Climate Negotiations this year.
Plug Power will unlock $275 Million in data center power market
Plug Power said it expects to generate over $275 million through monetizing assets and releasing restricted funds, while reducing maintenance costs. The hydrogen fuel cell manufacturer is shifting its focus to high-return opportunities, and the rapidly growing data center market. The shares of the company rose over 10% during premarket trading. The company signed an non-binding letter to intent to monetize their electricity rights in New York, as well as another U.S. city.
Australian shares increase as resources improve, ANZ rebounds
Australian shares rose on Monday. Resources stocks gained due to higher underlying prices, and the lender ANZ Group recovered from its early losses despite reporting a decline in annual cash profits. As of 2321 GMT, the S&P/ASX 200 was up 0.3% to 8,799.50. The benchmark index ended Friday 0.7% lower. Andrew Hauser, Deputy Governor of the Reserve Bank of Australia, said that the country's monetary policies are facing an unusually difficult challenge.
Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact
Record-breaking 239,709 attendees from 172 countries gathered at ADIPEC 2025, reaffirming UAE’s convening power and its role as a global hub for energy, partnerships and innovation. ADIPEC 2025 generated an estimated US$400 million in economic benefits for Abu Dhabi’s economy, particularly across the hospitality, tourism and transport sectors. Expanded AI Zone and dedicated industry areas showcased the role of AI, digitalisation, decarbonisation, chemicals and low-carbon solutions in advancing energy resilience.