2025-08-06 12:24

Aug 6 (Reuters) - NRG Energy (NRG.N) , opens new tab beat Wall Street estimates for second-quarter profit on Wednesday, as the utility got a boost from surging power demand and improved retail margins in its Texas unit. The company also entered into a 295 megawatt long-term retail deal to power data centers constructed on two NRG-owned sites in Texas, with a potential to expand to about 1 gigawatt across additional sites. Sign up here. NRG is positioned to benefit from surging electricity demand in Texas, driven in part by a boom in data centers, which require steady, large-scale power supplies to support artificial intelligence and cloud computing operations. The U.S. Energy Information Administration (EIA) said in April that power consumption in the country is expected to reach record highs in 2025 and 2026. NRG added that it plans to return $1.3 billion to shareholders and about $345 million in common stock dividends in 2025 as part of its previously announced 2025 capital allocation plan. The company's Texas unit posted an adjusted core profit of $512 million, up form last year's $452 million. NRG's operating expenses rose to $6.74 billion in the quarter ended June 30, from $5.25 billion a year ago. On an adjusted basis, the company posted a profit of $1.73 per share, beating the average analyst estimate of $1.56, according to data compiled by LSEG. NRG reaffirmed its current-year adjusted profit forecast of $6.75 to $7.75 per share. https://www.reuters.com/business/energy/nrg-energy-beats-quarterly-profit-estimates-inks-295-mw-deal-power-data-centers-2025-08-06/

2025-08-06 12:16

Aug 6 (Reuters) - India's Jindal Stainless (JIST.NS) , opens new tab said on Wednesday that the launch of an anti-dumping investigation by the government into cheap stainless steel imports has been delayed due to trade uncertainty stemming from fresh U.S. tariffs on Indian goods. The Indian Stainless Steel Development Association - a domestic trade body of which the company is a member - filed a petition with the federal trade ministry's Directorate General of Trade Remedies (DGTR) in late July, Managing Director Abhyuday Jindal said in a post-earnings call. Sign up here. India faces the imposition of a 25% tariff on its shipments to the U.S. from Friday, and President Donald Trump has warned of "very substantial" additional levies because of New Delhi's oil imports from Russia. The DGTR will likely take two to three more months to start the probe, Jindal said. Indian mills have been grappling with higher imports of cheaper stainless steel from countries, including China and Vietnam. Local demand for the finished product - used in logistics, the automotive industry, home appliances and the industrial sector - stayed strong in the April-June quarter, supported by strong manufacturing activity and government spending. Jindal Stainless posted an 11% rise in first-quarter profit to 7.15 billion rupees (about $82 million) earlier in the day. Its domestic sales accounted for 91% of total sales, with consolidated net revenue rising 8.2% to 102.07 billion rupees. ($1 = 87.6430 Indian rupees) https://www.reuters.com/world/india/jindal-stainless-says-governments-anti-dumping-probe-delayed-amid-us-tariffs-2025-08-06/

2025-08-06 12:10

CAIRO, Aug 6 (Reuters) - Iraq's oil minister, Hayan Abdel-Ghani, said on Wednesday that oil exports through Turkey’s Ceyhan pipeline will resume later on Wednesday or Thursday after a two-year hiatus, Iraqi state news agency INA reported. Abdel-Ghani said an agreement had been concluded with the Kurdistan Regional Government to resume the oil exports via the pipeline. Sign up here. He said that "80,000 barrels per day will be exported via Turkey’s Ceyhan pipeline through SOMO," INA quoted him as saying, referring to Iraq's state-owned oil marketer. There was no sign of an imminent restart to oil exports through the pipeline, four industry sources familiar with the matter said on Wednesday. The Kirkuk-Ceyhan pipeline has been offline since 2023, after an arbitration court ruled that Turkey should pay $1.5 billion in damages for unauthorised exports between 2014 and 2018. Turkey is appealing the ruling. The pipeline was transporting around 450,000 barrels per day (bpd) of Iraqi oil, including 370,000 bpd of KRG crude. Baghdad said that SOMO was the only party authorised to manage crude exports via the Turkish port. https://www.reuters.com/business/energy/iraqi-minister-expects-oil-exports-via-turkey-pipeline-resume-shortly-state-news-2025-08-06/

2025-08-06 12:09

Rescuers hampered by heavy rain, blocked roads Army, disaster teams use machinery and ziplines for rescue Tally of 200 brought to safety over Tuesday and Wednesday RISHIKESH, India, Aug 6 (Reuters) - Rescuers battled heavy rain and blocked roads in India's Himalayan state of Uttarakhand on Wednesday, after four deaths in sudden flooding and landslides the previous day left dozens missing and an entire village submerged under sludge. Teams of army and disaster force rescuers used heavy machinery to shift boulders in the struggle to reach the village of Dharali, where homes and roads were submerged by a flood of water, mud and rocks, media and authorities said. Sign up here. The Indian Army said 70 people were brought to safety on Wednesday, while the state's Chief Minister Pushkar Singh Dhami told news agency ANI about 130 were rescued the previous night. Rescuers used a makeshift zipline to cross a violently gushing river, while others moved rocks and mud with their hands in the hunt for those buried under the sludge, television images showed. "The number of missing persons is unknown. However the relief efforts have continued through the night," rescue leader Colonel Harshavardhan said in a post on X from the Indian Army. "We are trying to rescue people and take them to safety." Dharali, a hamlet of about 200 in the state's Uttarkashi district standing more than 1,150 m (3,775 ft) above sea level, is a tourist spot and pit-stop for Hindu pilgrims climbing to the temple town of Gangotri. WALL OF WATER Residents of nearby villages heard a loud rumble on Tuesday afternoon before a wall of water crashed into Dharali, media said. "I heard a deafening sound like boulders grinding," Sunita Devi, from the village of Mukha, told , opens new tab the Hindustan Times newspaper. "And then we saw the Kheer Ganga river turn into a monster." Roads to the area have crumbled or been blocked by boulders, making it tough to bring in rescue teams from elsewhere in the state, district administrator Prashant Arya told Reuters. The floods also washed away mobile and electricity towers, disrupting connectivity, and forcing rescue workers to turn to satellite phones. Eleven personnel were missing from an army camp in Harsil, 4 km (2.5 miles) from Dharali, after it was also hit by flash floods, the NDTV news channel said. More troops, accompanied by tracker dogs, drones, and earthmoving equipment are being mobilised for the rescue effort, the army's central command said on X. Uttarakhand is prone to floods and landslides, which some experts blame on climate change. Weather experts and geologists told media the cause of the havoc needed to be investigated in the absence of heavy rain in the area on Tuesday, adding that they suspected the cause could be a glacial lake outburst flood. https://www.reuters.com/business/environment/landslides-blocked-roads-hamper-indian-flood-rescue-effort-2025-08-06/

2025-08-06 12:08

KYIV, Aug 6 (Reuters) - Ukraine on Wednesday reopened its Bystre Canal at the mouth of the Danube, which had been closed since a dredger exploded in late July, the Ukrainian state Seaport Authority said. Ukraine had been transporting grain on the Bystre and the Danube as an alternative route for its exports while access to its Black Sea ports was limited in the first year after Russia's invasion in 2022. Sign up here. Since the ports were unblocked in 2023, Ukraine's use of the Danube has declined sharply. "Shipping is permitted for vessels with a draught of up to 4.5 metres, with mandatory pilotage and exclusively during daylight hours," the Authority said on Facebook. It noted that prior to the resumption of traffic, the relevant services, including the Ukrainian Navy, carried out measurements and mine clearance in the area near the emergency dredger. The Authority said last month it had closed the Bystre after a dredger exploded on July 23, without giving an explanation for the blast. Traffic was diverted through the Romanian Sulina channel. Analyst ASAP Agri said on Tuesday that the cost to shipowners of using Sulina was higher and many had raised their freight quotes for Danube shipments to offset losses. https://www.reuters.com/world/ukraine-reopens-its-danube-canal-after-closure-due-explosion-2025-08-06/

2025-08-06 12:01

https://www.reuters.com/world/trump-tariff-live-updates-2025-08-06/