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Trump announces trade breakthrough with South Korea on Asia trip
U.S. president makes final stop on five-day Asia tripHolds talks on trade, security with South Korean President Lee'Dramatic progress' helped break tariff impasse, Seoul saysTrump expects to cut China tariff related to illicit fentanyl tradeBy Trevor Hunnicutt, Jihoon Lee and Ju-min Park ...Reuters
Wed, Oct 29
Utility AEP raises capital spending plan to meet data center power demand
Oct 29 (Reuters) - American Electric Power AEP.O raised its five-year capital plan to $72 billion on Wednesday, up from $54 billion previously, to meet unprecedented power requirements driven by large-load customers including data centers and industrials.Shares of the company rose 3.2% in premarket ...Reuters
Wed, Oct 29
Marine transportation firm Kirby's Q3 revenue beats on barge utilization levels
OverviewKirby Q3 revenue of $871.2 mln beats analyst expectationsEPS for Q3 rises 6% yr/yr to $1.65Company repurchased 1.3 mln shares for $120 mln in Q3OutlookKirby expects inland marine conditions to improve modestlyCoastal marine fundamentals remain favorable, with steady demand expectedKirby fore...Reuters
Wed, Oct 29
Phillips 66 beats third-quarter profit estimates
Oct 29 (Reuters) - Refiner Phillips 66 PSX.N beat Wall Street estimates for third-quarter profit on Wednesday, helped by higher refining margins.The company reported an adjusted profit of $2.52 per share for the three months ended September 30, compared with analysts' average estimate of $2.17 p...Reuters
Wed, Oct 29
Liberia replaces mines minister amid talks on US investments
MONROVIA, Oct 29 (Reuters) - Liberia has replaced its mining minister and top mining regulator, the office of President Joseph Boakai announced, as the West African nation and iron ore producer pursues talks with Washington on investments in its critical minerals sector.The new minister, R. Matenoka...Reuters
Wed, Oct 29
Gold Price Forecast: XAU/USD snaps three-day losing streak as Fed’s policy takes centre stage
Gold price (XAU/USD) snaps its three-day losing streak, trading 1.70% higher to near $4,020 during the European trading session on Wednesday. The precious metal bounces back ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Fxstreet
Wed, Oct 29
Iranian oil discounts to China widen on sanctions, quota shortage
Discounts on Iranian oil offered to China rise to widest in more than a yearUS, UK and EU imposed wave of sanctions on top Russian producers Sanctions prompt some buyers in China and India to pause purchases By Siyi Liu and Chen Aizhu SINGAPORE, Oct 29 (Reuters) - The discounts on Iranian oil off...Reuters
Wed, Oct 29
Utility Entergy posts better-than-expected quarterly profit on surge in power demand
Oct 29 (Reuters) - U.S. electric utility Entergy ETR.N beat analysts' estimates for third-quarter profit on Wednesday, helped by higher retail sales and strong demand for power.Shares of Entergy have risen over 25% so far this year, compared with the broader S&P utilities index's .SPLRCU...Reuters
Wed, Oct 29
Japan PM pushed back against US request to ban Russian energy imports, sources say
PM Takaichi said ending LNG imports would be difficult for JapanRussian LNG accounts for nearly 9% of importsBy Yoshifumi Takemoto TOKYO, Oct 29 (Reuters) - Japan's new Prime Minister Sanae Takaichi told U.S. President Donald Trump during their meeting in Tokyo that banning Russian liquefied ...Reuters
Wed, Oct 29
Equinor expects tighter European gas market this winter
Colder winter could significantly impact gas prices, CFO warnsEquinor lowers 2030 gas price outlook to $8/MMBTUUS power demand rise may limit LNG exportsBy Nora Buli OSLO, Oct 29 (Reuters) - The outlook for Europe's natural gas market this winter is tighter than many had expected as the conti...Reuters
Wed, Oct 29
PRECIOUS-Gold gains nearly 2% as investors await Fed verdict, Powell speech
US Fed policy statement due at 1800 GMTGold climbs nearly 2%Dips may provide chance for central banks to ramp up purchases -analystsBy Ishaan Arora Oct 29 (Reuters) - Gold rebounded nearly 2% on Wednesday as investors found the metal attractive after prices fell to a three-week low in the previou...Reuters
Wed, Oct 29
India's MRPL pauses Russian oil buying to avoid sanctions risks, executive says
By Nidhi Verma HYDERABAD, India, Oct 29 (Reuters) - India's state-run refiner Mangalore Refinery and Petrochemicals Ltd MRPL.NS has no immediate plans to buy Russian oil due to risks involved after the latest U.S. sanctions on Moscow's top oil producers, a company executive told reporters...Reuters
Wed, Oct 29
BASF's third-quarter profit beats consensus on better volumes, metals trading
EBITDA falls 4.8% to 1.54 billion eurosSlightly beats analyst consensus Shares up 3% in early trade FRANKFURT, Oct 29 (Reuters) - BASF's BASFn.DE profit slipped in the third quarter, the German chemicals giant said on Wednesday, but it still beat expectations due to higher chemical sales volu...Reuters
Wed, Oct 29
Tokyo Gas targets US as priority overseas expansion market, CEO says
Tokyo Gas has upstream, renewable energy assets in the U.S.Potential LNG offtake from Alaska not directly linked to Russia's Sakhalin-2 contract, CEO saysCompany raises FY profit forecast By Yuka Obayashi and Katya Golubkova TOKYO, Oct 29 (Reuters) - Tokyo Gas 9531.T would prioritize the U.S....Reuters
Wed, Oct 29
Equinor sees tighter European gas market this winter, CFO says
OSLO, Oct 29 (Reuters) - The outlook for the European natural gas market this winter is tighter than many had expected as the continent's storage levels are 12 percentage points lower than a year ago, Equinor EQNR.OL CFO Torgrim Reitan told Reuters on Wednesday.Reuters
Wed, Oct 29
US wants allies to pursue energy abundance policies to cap prices, official says
RIYADH, Oct 29 (Reuters) - The United States wants its allies to engage in a policy of energy abundance to keep prices down, the U.S. Department of Energy's deputy secretary, James Danly, said at a panel at the annual Future Investment Initiative (FII) summit in Riyadh.Reuters
Wed, Oct 29
Kuwait Oil Company to spend $3.9 billion on exploration by 2030, deputy CEO says
By Ahmed Hagagy Oct 29 (Reuters) - Kuwait Oil Company (KOC) plans to spend 1.2 billion dinars ($3.92 billion) on its exploration drilling program through 2030, its senior executive told Reuters in an interview.The spending is part of a 9.8-billion-dinar budget - the company's biggest ever - a...Reuters
Wed, Oct 29
Chip shortage intensifies in German industry, says Ifo
BERLIN, Oct 29 (Reuters) - Shortages of materials for German manufacturers of electronic and optical products became more acute in October, driven by a tightening of global controls on rare earth components, the Ifo economic institute said on Wednesday.Rare earths, essential for producing semicondu...Reuters
Wed, Oct 29
PRECIOUS-Gold gains more than 1% as investors await Fed verdict, Powell speech
US Fed policy statement due at 1800 GMTGold climbs more than 1%Dips may provide chance for central banks to ramp up purchases -analystsBy Ishaan Arora Oct 29 (Reuters) - Gold rebounded more than 1% on Wednesday as investors found the metal attractive after prices fell to a three-week low in the p...Reuters
Wed, Oct 29
