Carbon markets are essentially “about countries collaborating with each other to unlock emissions reduction opportunities that would not have occurred otherwise,” said Benedict Chia, director-general of climate change at the republic’s National Climate Change Secretariat (NCCS) on Thursday.He was speaking on a panel at Asia Carbon Summit, under the city-state’s flagship energy event Singapore International Energy Week.“If a country doesn’t have a good understanding of how much it’s emitting to a level of certainty, then the foundation on which you’re building this collaboration is going to be flimsy,” said Chia. “The other important aspect is the country needs to have a…
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By Summer Zhen HONG KONG (Reuters) – Global hedge funds dumped China and broader emerging markets shares while buying U.S. equities in a sharp rotation in October ahead of the U.S. election, Goldman Sachs said. China, where stock markets surged 20% last month boosted by a raft of stimulus policies, has now seen heavy outflows this month, according to Goldman’s prime brokerage team. China no longer publishes timely data on foreign flows into the mainland market. Goldman Sachs estimates that hedge funds have clawed back nearly 80% of the peak cumulative buying in Chinese equities as of Oct.23, the prime…
Coursera Inc (NYSE:) shares tumbled 15% in after-hours trading Wednesday as the online education platform’s fourth-quarter revenue guidance fell short of analyst expectations, overshadowing better-than-expected third-quarter results. The company reported third-quarter adjusted earnings per share of $0.10, surpassing the analyst estimate of $0.02. Revenue for the quarter came in at $176.1 million, up 6% YoY and above the consensus estimate of $173.98 million. Coursera’s fourth-quarter revenue forecast of $174-178 million fell significantly below the analyst consensus of $186.6 million, sparking concerns about slowing growth. “Our strong bottom-line performance continues to demonstrate our commitment to driving sustainable growth while expanding profitability,…
The company said the project will add 200,000 square feet to its Chennai facility, doubling its current manufacturing footprint at the site. Chennai is a coastal city in the southeastern part of India. Source link
A look at the day ahead in European and global markets from Kevin Buckland Yields are mercifully lower as the week draws to a close, removing some of the angst that has weighed on equities and allowing the beaten-down yen and euro to regain some composure against the dollar. But this relative calm feels like the eye of the storm as risk events swirl on the horizon next week: mega-cap earnings from five of the “Magnificent 7”; a highly consequential U.S. payrolls report on Friday; and the final lap going into a likely photo-finish U.S. presidential election on Nov. 5.…
JIUJIANG, CHINA – JUNE 17: A worker manufactures seamless steel gas cylinders for export at the workshop of Sinoma Science & Technology (Jiujiang) Co., Ltd. on June 17, 2024 in Jiujiang, Jiangxi Province of China. Wei Dongsheng | Visual China Group | Getty ImagesChina’s steel exports will soon hit an eight-year high, before sweeping tariffs sink in and drag down the industry in 2025, industry watchers said.As the biggest exporter of steel, China accounts for about 55% of the world’s steel production. The country’s steel exports have been surging this year and are expected to smash through the 100 million metric ton…
Microsoft shareholders are set to vote on a proposal to assess Bitcoin (BTC) as a potential corporate investment at the tech giant’s upcoming annual meeting at the end of the year, according to an Oct. 24 regulatory filing.The proposal, filed by a shareholder advisory board, calls for a detailed evaluation of the flagship crypto’s potential role within Microsoft’s treasury operations.However, the board of directors has recommended against the move, stating that its treasury already assesses a variety of assets, including cryptocurrencies like Bitcoin. The board emphasized Bitcoin’s volatility and argued that the company’s current processes ensure financial stability without the need…
Investing.com– Retail investors grew less optimistic over the short-term outlook for stock markets, an American Association of Individual Investors survey showed on Thursday, with neutral and pessimistic sentiments increasing. The AAII Sentiment Survey showed bullish sentiment- specifically that stock prices will rise in the next six months- among individual investors fell to 37.7% of respondents from 45.4% in the prior survey. Neutral sentiment- that stock prices will remain unchanged- rose slightly to 32.4%, while bearish sentiment- that stock prices will fall- rose by 4.5 percentage points to 29.9%. The spread of bulls to bears fell sharply to 7.8% in this…
Lewis Hamilton raised concerns about his car’s handling during the formation lap for the US GP Sprint at Circuit of the Americas, reporting a “clicking” sound under braking. Starting P7 for the 19-lap race, Hamilton immediately noticed this issue, which later prompted Mercedes to investigate further after the race. The technical issue persisted throughout the Sprint, affecting his car’s handling and his overall performance during the event. Mercedes identified the source of the problem after the Sprint race, discovering that a broken bearing in the suspension was the culprit. James Allison, Mercedes’ technical director, explained that the broken bearing affected…
Mark Webber, former Red Bull driver and now manager of McLaren’s Oscar Piastri, is reportedly pushing hard to negotiate a potential move for his client to Red Bull. This claim comes from Red Bull’s senior advisor Helmut Marko, suggesting that a significant twist in the Formula 1 driver market could be on the horizon. With Piastri already known for making bold moves, like rejecting an Alpine promotion to join McLaren for 2023, there are now hints that he could make another career-defining switch, this time to Red Bull. Red Bull’s interest in Piastri seems to be tied to the uncertainty…