(Bloomberg) — Turkish bonds and stocks rebound as top economic officials stepped up efforts to soothe foreign-investor concerns about last week’s detention of a key opposition politician, which triggered billions of dollars in outflows. Most Read from Bloomberg Finance Minister Mehmet Simsek and central bank Governor Fatih Karahan are scheduled to speak at 1 p.m. London time in a teleconference organized by Citigroup Inc. and Deutsche Bank, the Treasury said on its website, confirming a report first published by Bloomberg News. They are expected to reinforce President Recep Tayyip Erdogan’s pledge yesterday to maintain the broadly investor-friendly policies in place…
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EV cars are pictured inside BYD’s first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. Chalinee Thirasupa | ReutersChinese automaker BYD reported annual revenue of 777 billion yuan ($107 billion) for 2024, leapfrogging U.S. rival Tesla as competition between the two electric vehicle rivals heats up.In a filing published Monday, BYD posted a 29% increase in revenue from the previous year, bolstered by sales of its hybrid vehicles. This figure exceeded the $97.7 billion annual revenues reported by Elon Musk’s Tesla.Wang Chuanfu, chairman and…
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Saudi PIF ranks 2nd globally for sovereign investor activity in Feb. with $3bn in deals RIYADH: Saudi Arabia’s Public Investment Fund ranked as the world’s second most active sovereign investor by deal value in February, committing $3 billion in global transactions. Global SWF, a data platform tracking activity in the sector, reported that Canada’s public pension fund topped the rankings with a $7 billion deal. The Kingdom’s PIF emerged as the most active sovereign wealth fund, completing three overseas deals through its portfolio companies. Globally, sovereign investors executed 22 deals worth a combined $16.5 billion. Alongside…
Listen to the article 6 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Amazon started selling “high-integrity science-based” carbon credits as part of its Sustainable Exchange resource hub, the company announced last week. Initial customers include online photo sharing and storage platform Flickr, as well as companies in the real estate, consumer electronics and technology consulting industries, according to a press release. The e-commerce giant opened the carbon credits to its U.S. supply chain partners, enterprise customers and signatories of The Climate Pledge “access to invest in nature-based projects and carbon removal technologies”…
Russian President Vladimir Putin speaks with Kremlin spokesman Dmitry Peskov during a summit of leaders of nations, which are members of the Commonwealth of Independent States (CIS), in Moscow, Russia October 8, 2024. Sergei Ilnitsky | Via ReutersThe Kremlin on Tuesday said that it would not disclose the content of ceasefire deal talks with U.S. officials, as Ukrainian diplomats also met their American counterparts for further discussions.”Those were “technical” talks so the content of these talks won’t be made public for sure. But I again repeat that the results are being assessed by Moscow and Washington and then we can speak…
The Tesla (NASDAQ: TSLA) share price popped 11.9% to $278 on the Nasdaq Composite index Monday (24 March). Despite this, the stock remains around 41% lower than three months ago. What caused this rapid acceleration skywards? And is it game-changing news that makes me want to invest in the electric vehicle (EV) giant? Let’s take a look. What’s going on? From what I can gather, there appears to be a few reasons for the share price jump. For starters, it was a great day for all tech stocks as it emerged that President Trump’s stance on tariffs might be softening.…
Global scrutiny of carbon marketsTanzania is not alone in facing controversy over carbon trading. A 2023 investigation by The Guardian found that more than 90 per cent of rainforest carbon offsets sold by a leading certifier were effectively worthless. Soil carbon offsets, such as those in the Maasai rangelands, are even more uncertain.“The idea that you can capture carbon in Maasai rangelands and sell it to polluters is based on flawed assumptions,” said Henry Kileo, an environmental researcher specialising in carbon storage. “In semi-arid climates like northern Tanzania, soil carbon levels are highly variable and difficult to measure accurately. There’s…
Image source: Getty Images Shell (LSE:SHEL) shares are up just 4% over the past 12 months. As such, an investment made a year ago would be worth £10,400 today. However, an investor would have also received around £400 in the form of dividends. So, 8% total returns. Not bad but not great. What’s been going on? Shell’s share price gains have been modest, despite the company’s efforts to streamline operations and improve financial performance. This sluggish performance can be attributed to several factors. Firstly, oil prices have fluctuated over the past 12 months, but the general direction is downwards. As I…
Image source: Getty Images Smiths Group (LSE: SMIN) posted a 9.5% jump in first-half headline operating profit on Tuesday (25 March), but the share price didn’t do much in response. As I write, we’re looking at a rise of just 1.6% on the day. But Smiths shares have climbed 22% in the past 12 months and 81% in five years. Pressure to move The global engineering firm has been under pressure to consider a move to list on the New York stock market. US activist investor Engine Capital has been urging that as one possible way to maximise shareholder value.…