In the vicinity of Manila, a coal-fired power plant hopes to become a model for developing countries striving to abandon this polluting fossil fuel. An alliance led by the Rockefeller Foundation, a philanthropic group, plans to help close this plant ten years earlier than scheduled, avoiding millions of tons of emissions by monetizing them as carbon credits. “The idea is ‘pretty simple’,” explains Joseph Curtin, general director of Rockefeller’s energy and climate team, to AFP. “What if, instead of selling this high-carbon energy to the electrical grid, the coal owner could sell the avoided carbon emissions?” Essentially, carbon credits allow…
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A look at the day ahead in U.S. and global markets from Mike Dolan With U.S. stocks at new records and devastating Hurricane Milton now weakening as it passes over Florida, the shifting U.S. interest rate horizon is back in focus with September’s key inflation update due on Thursday. Despite the stormy weather and Middle East anxiety, U.S. economic soundings remain robust and Federal Reserve easing expectations continue to be dialled back – sending the dollar to near two month highs in the process. With the U.S. economy estimated to be still expanding at more than 3%, markets now seeing…
(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A pharmacy operator and an industrial stock were among the stocks being talked by analysts on Thursday. Barclays upgraded CVS to overweight from equal weight, calling for 24% upside. Meanwhile, JPMorgan lowered its rating on Honeywell International to neutral from overweight. Check out the latest calls and chatter below. All times ET. 5:50 a.m.: Barclays upgrades CVS, sees 24% upside Barclays sees significant upside ahead for shares of CVS . The bank upgraded the pharmaceutical stock…
Image source: Getty Images The GSK (LSE: GSK) share price is back in play jumping 6.63% at time of writing after shrugging off a huge shadow that’s been hanging over its prospects for months. This is great news for me because I bought shares in the FTSE 100 pharmaceutical giant in April. I thought of it as a long-term defensive buy-and-hold, only to find myself nursing a double-digit loss triggered by legal issues. Its blockbuster heartburn drug Zantac was pulled from sale in the US in 2019, following claims that it contained “unacceptable levels” of probable cancer-causing ingredients. GSK has…
By Anne Kauranen and Essi Lehto HELSINKI (Reuters) -Nordic utility Fortum faces cyberattacks on a daily basis in Finland and Sweden and has sometimes spotted drones and suspicious individuals near its sites, its CEO told Reuters, adding the company had asked the authorities to investigate. Security services in Finland and Sweden declined to comment on specific incidents, but both have alleged a pick up in malicious activities by Russia in recent years. Russia’s foreign ministry or embassy in Helsinki did not immediately reply to a written request for comment. Finland and Sweden angered eastern neighbour Russia by joining the Western…
(Bloomberg) — China’s central bank has set up a swap facility to provide liquidity to institutional investors to buy stocks, part of a broad stimulus package announced earlier that ignited a rally in equities.Most Read from BloombergThe People’s Bank of China will accept applications from eligible securities firms, funds and insurers starting Thursday to obtain highly liquid assets such as government bonds and central bank bills if they provide certain collateral. The size of the tool is 500 billion yuan ($70.6 billion) and can be expanded in the future, the monetary authority said in a statement.PBOC Governor Pan Gongsheng unveiled…
Image source: Getty Images British Airways-owner International Consolidated Airlines’ (LSE: IAG) share price has fallen 10% from its 30 September 12-month high of £2.12. It is down 68% from the £6.15 level it held in January 2020 before the widespread onset of Covid. To me, such numbers will always flag the possibility of a huge bargain to be had. Why has it dropped so low? The big part of the drop from £6.15 resulted from the effects of the Covid virus on travel. Airline passenger numbers fell over 90% in 2020 and 2021. This was compounded the following year when…
By Kevin Buckland and Harry Robertson TOKYO/LONDON (Reuters) -The U.S. dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The , which measures the currency against six key rivals including the yen, stuck close to an almost two-month top touched overnight, as traders further pared bets for U.S. rate cuts this year after last week’s unexpectedly strong payrolls data. The U.S. currency touched 149.54 yen for the first time since…
Quantum Commodity Intelligence – Insurance for carbon credits is still an emerging concept, but there are now several options available to cover the diverse risks associated with this market. With market players now planning for Article 6 – the part of the Paris Agreement regulating carbon credit transfers between countries – the importance of insurance has grown, as market risks have become more prominent. A key concern is the risk of countries failing to grant corresponding adjustments, leading more market participants to seek solutions to manage this exposure. Among the leading insurers in this space are Oka, Kita, and CFC.…
Image source: Getty Images I’d love to have £12,000 to invest in a spread of passive income stocks. Sadly, I’ve invested every penny I’ve got. But if I did have £12k to hand, I’d invest it across three UK dividend growth companies, inside a Stocks and Shares ISA. I’d start by investing £4,000 into utility giant National Grid (LSE: NG). This is one of the most popular income stocks on the index, and for good reason. I’m chasing FTSE 100 dividends National Grid owns and operates the electric and gas transmission system in England and Wales. Basically, it’s a regulated…