On a steep trek up to his forest farm on the Indonesian island of Halmahera, Librek Loha let out a cry of dismay. “Aduuuuh,” he said, his voice trailing off. “Landslides, again. They happen all the time now.” The mudslide below Loha’s plantings of cacao, nutmeg, and pineapple exposed more orange, rocky soil – adding to miles of bulldozed forest and river that are leaving the farm an island of green amid red-brown. Where trees once grew, there are dusty warehouses, mountains of black coal, and water that runs silty brown. This region of Weda Bay is now one of…
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ismagilov/Getty, Yellow duck/Getty, Tyler Le/BIThere are key stock market catalysts on the horizon before November.The Fed’s recent interest rate cut has reduced market uncertainty, for now.October 4, October 21, and November 1 are dates for investors to watch, BofA says.There are a handful of key market catalysts that could jolt stock prices between now and November.With the Federal Reserve’s first interest rate cut since 2020 delivered last week, much uncertainty has been removed from the stock market — at least in the short term.In a Monday note, Bank of America highlighted the most important days for the stock market between…
(Reuters) -China’s central bank will cut banks’ reserve requirement ratio by 50 basis points and further reduce key interest rates to support a recovery in prices, its governor Pan Gongsheng said on Tuesday. Pan, speaking at a news conference alongside officials from two other financial regulatory agencies, said the seven-day repo rate will be cut by 0.2 percentage points to 1.5% and said deposit and other interest rates will fall as well. Market reaction: Chinese stocks rose broadly and bonds rallied following the announcement, with the CSI300 blue-chip index and each gaining about 1%. The 30-year treasury futures for December…
Forecasts for Australian carbon credits point to a sharp rise.By September 2025, the price of Australian Carbon Credit Units (ACCU) is expected to reach A$70/tCO2e, compared with A$45/tCO2e in September 2024, an increase of 56%, according to a recent report published by ANZ.This increase is directly linked to the growing demand imposed by the Safeguard Mechanism.Driven by legislative reforms, the Safeguard Mechanism is tightening the framework governing emissions from the most polluting companies, leading to a scarcity of credit supply and higher prices.In August 2024, volumes traded on the ACCU market reached 2.8 million units, marking a record increase on…
The Better Business Bureau has issued a new warning involving investment scams and something people may not be too familiar with — cryptocurrency. Reports of investment scams hit an all-time high in 2023, according to the BBB. Con artists will often use romance to lure you in – and oftentimes, they use cryptocurrency as well, according to the organization. It’s that layer of confusion that makes it easier for criminals to go undetected, the BBB explained. The scam often starts with unsolicited investment advice through social media or WhatsApp. For instance, you should also be wary when someone you’ve met…
Hong Kong’s Hang Seng Index led the pack in Asian trade after China’s stimulus announcement (DALE DE LA REY)Hong Kong and Shanghai stocks rallied Tuesday after China unveiled fresh stimulus measures as the country’s leaders struggle to kickstart growth in the world’s number two economy.After a string of weak data that has fanned worries about the financial health of the country and led to calls for more help to boost growth, the central bank said it would make it easier for lenders and lower a key interest rate.The decision came as traders were already upbeat after the Federal Reserve last…
Amid Europe’s drive for sustainability and autonomy, Sweden emerges as a rare metals pioneer aiming to challenge China’s dominance. German President Frank-Walter Steinmeier (second from right) and his wife Elke Büdenbender (right) stand in an excavator shovel with King Carl XVI Gustaf (second from left), Queen Silvia of Sweden (left) and Jan Moström, Chairman of the Board of Luossavaara-Kiirunavaara AB (LKAB), during a visit to the LKAB iron ore mine in Kiruna, Sweden, on Sep. 9, 2021. © Getty Images ×In a nutshell Europe needs stable rare-metal supplies for climate goals, geopolitical risk reduction China’s dominance prompts Europe to reassess…
(Bloomberg) — Asian stocks rose after China’s central bank announced stimulus measures in a bid to reach this year’s economic growth target and stem a selloff in the equity market.Most Read from BloombergEquity benchmarks in Hong Kong jumped more than 2% at the open while onshore Chinese stocks also gained. The MSCI Asia Pacific Index rose 0.7%, with Japan benchmarks advancing more than 1% after reopening from a holiday. The yield on China’s 10-year government bond declined to 2% for the first time on record.China will allow brokerages and funds to tap the central bank’s funding to buy stocks, adding…
HOUSTON (Reuters) -U.S. oil producers were scrambling on Monday to evacuate staff from Gulf of Mexico oil production platforms as the second major hurricane in two weeks was predicted to tear through offshore oil producing fields. The U.S. National Hurricane Center said a potential Tropical Cyclone in the Caribbean was expected to rapidly intensify over the gulf’s warm waters and could become a major hurricane with winds of up to 115 miles per hour (185 kph) by Thursday. The storm, which would be called Helene, could hit the U.S. as a category 3 hurricane on the Saffir-Simpson wind scale, bringing…
Pan Gongsheng, governor of the People’s Bank of China, delivers a speech during the 2024 Lujiazui Forum on June 19, 2024 in Shanghai, China.Vcg | Visual China Group | Getty ImagesBEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points, People’s Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday.Pan, who was speaking to reporters alongside two other financial regulator heads, did not indicate exactly when the central bank would ease the policy but said it would be in…