2025-08-27 11:55
WARSAW, Aug 27 (Reuters) - Poland will "radically increase" wind power capacity despite last week's decision by President Karol Nawrocki to veto a bill aimed at easing rules for building onshore wind farms, Prime Minister Donald Tusk said on Wednesday. The vetoed bill would have cut the distance required between planned installations and residential locations. Sign up here. "We will radically increase onshore wind capacity because this is the cheapest source of electricity," Tusk told reporters. He said the government was working on a resolution to allow more efficient wind turbines to be installed at existing wind farms. Government resolutions do not require legislative backing by parliament and so are not subject to presidential approval. Renewable energy production has been increasing in Poland at the expense of coal-fired power, though the latter still dominates the mix. In 2024, nearly 30% of Polish electricity was generated from renewable sources. https://www.reuters.com/business/energy/poland-boost-wind-capacity-despite-presidential-veto-pm-says-2025-08-27/
2025-08-27 11:55
Investors await Nvidia earnings for direction on AI trade Orsted and Novo Nordisk shares rebound Porsche seeks new CEO as Blume focuses on Volkswagen role German consumer sentiment expected to decline for third month Aug 27 (Reuters) - European shares edged higher on Wednesday, recovering from their largest drop in nearly a month, as investors bought the dip, keeping an eye on political risks in France and awaiting earnings from artificial intelligence behemoth Nvidia for cues. The pan-European STOXX 600 index (.STOXX) , opens new tab rose 0.4% by 0707 GMT. Sign up here. France's CAC 40 (.FCHI) , opens new tab gained 0.4%, following a three-week low hit in the previous session after concerns over a potential collapse of Prime Minister Francois Bayrou's government next month sparked a selloff in French assets. The more domestically exposed mid-cap stocks (.CACMD) , opens new tab were nearly flat, with banking giants BNP Paribas and Societe Generale extending slim losses to a third straight session. Three main opposition parties said on Monday they would not back Bayrou in a confidence vote, which he announced for September 8, over his plans for sweeping budget cuts. If the government falls, President Emmanuel Macron could name a new prime minister immediately or ask Bayrou to stay on as head of a caretaker government. He could also call a snap election. "A lot has already been priced in, especially for domestic names ... French banks, utilities, business services but I would expect uncertainty to remain for the next few weeks and that will be an overhang on French equities," said Christophe Hautin, equity portfolio manager at Allianz Global Investors. "As soon as we have clarity on the no-confidence vote, there could be some buying opportunities in the banking sector." Stock indexes in Germany (.GDAXI) , opens new tab, Italy (.FTMIB) , opens new tab and Spain (.IBEX) , opens new tab added between 0.1% and 0.3%. Investors are awaiting earnings from Nvidia (NVDA.O) , opens new tab, the world's most valuable company, later in the day for fresh cues on the AI trade, after a blistering rally in technology stocks hit a speed bump in August. Shares of Orsted (ORSTED.CO) , opens new tab and Novo Nordisk (NOVOb.CO) , opens new tab, which have lagged this week, climbed 3.5% and 2%, respectively. Porsche London-listed shares of Rio Tinto (RIO.L) , opens new tab rose nearly 1% after the Anglo-Australian miner said it will streamline operations into three business units, Iron Ore, Aluminium & Lithium, and Copper. Meanwhile, a survey on Wednesday showed sentiment among German consumers is expected to fall for the third time in a row in September, with households' growing concerns about possible job loss and uncertainty about inflation weighing on the mood. https://www.reuters.com/markets/europe/european-shares-rise-after-selloff-focus-shifts-nvidia-results-2025-08-27/
2025-08-27 11:55
MADRID, Aug 27 (Reuters) - U.S. asset manager Blackstone (BX.N) , opens new tab is looking to expand its planned project to build data centres in Spain's Aragon, with an additional investment of 4.3 billion euros ($5.03 billion) in the region striving to become a major cloud computing hub. Documents filed with the regional government showed that aside from an initial investment of 7.5 billion euros over nine years, that was disclosed in 2024, the world's largest alternative asset manager plans a second phase to add capacity at the same site, depending on demand from customers. Sign up here. That second phase would take seven years to be completed, the company said. Blackstone follows tech giants such as Microsoft (MSFT.O) , opens new tab and Amazon (AMZN.O) , opens new tab in choosing the northeastern region, which has around 20 data centre projects under evaluation. The first phase would start in the second quarter of 2026, the document said. It would comprise eight data centres, an electricity substation, a photovoltaic power plant and connections to the grid. The company said it had signed renewable electricity supply contracts for all its needs and its cooling systems will not use water, a commodity that is often in short supply in Spain. ($1 = 0.8542 euros) https://www.reuters.com/business/finance/blackstone-plans-5-bln-expansion-spanish-data-centre-project-2025-08-27/
2025-08-27 11:53
CAPE TOWN, Aug 27 (Reuters) - Qatari investment firm Al Mansour Holdings has taken a 19.9% stake in Australia's Invictus Energy (IVZ.AX) , opens new tab and will provide up to $500 million to help the company develop its Cabora Bassa gas project in Zimbabwe, the companies said on Wednesday. The equity stake, acquired at a cost of A$37.8 million ($24.56 million), will fund near-term work including the drilling of the priority Musuma-1 well. Sign up here. Under the partnership, Al Mansour Holdings, led by royal member Sheikh Mansour bin Jabor bin Jassim Al Thani, will also form a joint venture with Invictus, called Al Mansour Oil & Gas, which will look to acquire oil and gas assets across Africa. Seismic survey data covering the eastern Cabora Bassa Basin has identified eight high-potential prospects totalling an estimated 2.9 trillion cubic feet of gas and 184 million barrels of condensate, according to Invictus Energy. The Basin contains the Mukuyu gas field, discovered in 2023 and considered by analysts as one of the largest finds in Sub-Saharan Africa that year. The Qatari investment "significantly enhances the growth trajectory for our Cabora Bassa Project," Invictus Managing Director Scott Macmillan said in a joint statement. Invictus shares more than doubled in price to their highest level since December 2023 after the announcement, valuing the company at A$208 million. Last week, Al Mansour Holdings also committed to invest $12 billion in neighbouring Botswana across a range of economic sectors. "Our investment in Invictus and our new AMOG joint venture reflects our long-term commitment to Africa's growth, energy security and economic transformation," Sheikh Mansour bin Jabor bin Jassim Al Thani said. ($1 = 1.5389 Australian dollars) https://www.reuters.com/business/energy/qatars-al-mansour-holdings-bets-zimbabwe-energy-deal-with-australias-invictus-2025-08-27/
2025-08-27 11:47
US dollar up 0.4% Fed's Cook will file lawsuit to keep job, lawyer says Focus on US PCE data due on Friday Aug 27 (Reuters) - Gold slipped on Wednesday as the dollar firmed and investors booked profits after prices hit a more than two-week high in the previous session. Spot gold was down 0.5% at $3,375.79 per ounce at 1119 GMT. U.S. gold futures for December delivery eased 0.2% to $3,425.10. Sign up here. The dollar index (.DXY) , opens new tab, which measures the greenback against a basket of major currencies, rose about 0.4%, making dollar-priced bullion more expensive for other currency holders. "(Gold) prices are acting less like an arrow and more like a feather, with the prevailing direction of travel determined by the dollar. Current gold price weakness is likely attributable to some profit-taking...as momentum faded to the upside," independent analyst Ross Norman said. Bullion hit its highest since August 11 on Tuesday after U.S. President Donald Trump's attempt to fire Fed Governor Lisa Cook undermined confidence in the independence of the central bank and more broadly in U.S. assets, boosting safe-haven demand. Cook will file a lawsuit to prevent Trump from firing her, her lawyer said, kicking off what could be a protracted legal fight over the White House's effort to shape U.S. monetary policy. "Market participants will await the decision of U.S. courts (regarding whether) Trump can fire Cook or not, before gold reacts more strongly," UBS analyst Giovanni Staunovo added. The data focus is on the Fed's preferred inflation gauge, the Personal Consumption Expenditures Price Index, due on Friday, after dovish remarks from Fed Chair Jerome Powell at the Jackson Hole symposium last week. Markets have priced in an 87% chance of a quarter-point rate cut at the Fed's September 17 policy meeting, according to the CME FedWatch Tool. Non-yielding gold typically performs well in a low-interest-rate environment. Spot silver fell 0.8% to $38.27 per ounce, platinum was also down 0.8% at $1,337.38 and palladium was 0.2% lower at $1,091.99. https://www.reuters.com/world/india/gold-eases-firmer-dollar-profit-taking-2025-08-27/
2025-08-27 11:45
Aug 27 (Reuters) - Harvest Midstream, owned by the founder of privately held Hilcorp Energy, has agreed a deal to acquire $1 billion worth of natural gas gathering and processing assets from MPLX (MPLX.N) , opens new tab, the companies said on Wednesday. Houston-based Harvest holds midstream assets in multiple oil and gas plays, notably in Alaska and the Bakken shale of North Dakota. It was founded by billionaire businessman Jeff Hildebrand, who also owns Hilcorp, one of the largest U.S. private oil and gas companies. Sign up here. Shares of MPLX gained more than 1.4% in the premarket trading. Reuters had reported the news earlier in the day, citing people familiar with the matter. Under the agreement, Harvest will dedicate around 12 thousand barrels per day of natural gas liquids from these assets to MPLX for seven years beginning 2028. The deal with MPLX will allow Harvest to expand its operations into the Uinta and Green River shale basins, which collectively stretch across Utah, Colorado and Wyoming. Harvest is set to buy about 1,500 miles (2,414 km) of pipelines that transport natural gas from the wellhead to larger lines that link with consumers, as well as 1.2 billion cubic feet per day of processing capacity, the companies said. The transaction is expected to close in the fourth quarter. For MPLX, the deal comes as the company is focusing more investment on the Permian Basin of Texas and New Mexico. MPLX has struck around $3.5 billion of acquisitions in 2025, according to an August 5 analyst call. The activity has been centered on the Permian and the most recent one was an agreement to buy Northwind Midstream for nearly $2.4 billion. The company, alongside WhiteWater and other partners, on Monday announced the final investment decision on the Eiger Express Pipeline, a new natural gas pipeline linking the Permian with export facilities on the U.S. Gulf coast. https://www.reuters.com/business/energy/jeff-hildebrands-harvest-midstream-buy-some-mplx-pipeline-assets-1-billion-2025-08-27/
