2025-02-15 00:41
Ports of Dampier, Varanus Island reopened Tropical Cyclone Zelia downgraded to tropical low Inland towns under threat from potential floods SYDNEY, Feb 15 (Reuters) - Western Australia's ports of Dampier and Varanus Island reopened, the ports' operator said, after Tropical Cyclone Zelia hit the state's Pilbara iron ore region on Friday. Pilbara Ports said on its website late on Friday that the ports, a gathering and processing hub for oil and gas, reopened after being shut on Thursday evening as Zelia, the most severe storm to hit the Pilbara coast since Cyclone Ilsa in April 2023, approached. "Pilbara Ports has undertaken inspections of navigation aids, channels and berths and has confirmed safe operations can resume," the operator said in the alert. Zelia brought heavy rain and wind gusts up to 290 kph (180 mph) when it made landfall. Its approach prompted the closure of the world's largest iron ore hub, Port Hedland, on Wednesday. The region's Cape Lambert port also shut. Pilbara Ports said on Saturday it would issue an alert when Port Hedland reopened, after Zelia crossed the coast near the port around noon (0400 GMT) on Friday as a category five cyclone, the highest danger rating. It moved south and weakened to a category four, sparing the town's population centre from its most destructive winds. The nation's weather forecaster said on Saturday that Zelia, now downgraded to a tropical low, was "dissipating over the inland Pilbara". "Ex-Tropical Cyclone Zelia is below cyclone intensity and is continuing to weaken as it moves slowly south and further inland through the eastern Pilbara," the forecaster said on its website. Even so, senior forecaster meteorologist Angus Hines told the Australian Broadcasting Corp that some Pilbara towns could become cut off as water levels rose due to heavy rain brought by the storm. An emergency warning was in place on Saturday for residents between the remote Pilbara towns of Warralong to Marble Bar, about 160 km (100 miles) southeast of Port Hedland, Western Australia's Department of Fire and Emergency Services said. Port Hedland is used by BHP Group, Fortescue and billionaire Gina Rinehart's Hancock Prospecting, while the Dampier and Cape Lambert ports ship iron ore from Rio Tinto, which expected ship movements to resume on Saturday afternoon. Fortescue said on Saturday it was assessing its operational sites, including roads, villages and mines in the wake of the cyclone. "Minimal damage has been reported," a spokesperson said in a statement, after the company on Friday closed its Iron Bridge mining operations and cancelled non-essential travel to Pilbara sites. "We are working to resume normal activities as quickly and safely as possible." BHP, which on Friday paused its Port Hedland operations for safety, said on Saturday the cyclone had not caused any major damage at its sites. "Our teams are now progressively returning to site, with recovery and ramp up operations underway," a spokesperson said in a statement. Sign up here. https://www.reuters.com/world/two-ports-western-australias-pilbara-region-reopen-after-tropical-cyclone-zelia-2025-02-15/
2025-02-15 00:21
Feb 14 (Reuters) - Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings. The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF (IBIT.O) , opens new tab by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment. Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024. Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment. An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million. Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year. "We’ve been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm. The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco (IVZ.N) , opens new tab. Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer. "It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said. The 13F filings are one of the few ways to get insight into how institutional investors are positioned at the end of every quarter. The positions may not reflect current holdings. Sign up here. https://www.reuters.com/business/finance/fund-managers-boost-exposure-bitcoin-etfs-quarterly-us-filings-show-2025-02-15/
2025-02-14 23:55
SAO PAULO/BRASILIA, Feb 14 (Reuters) - Brazilian miner Vale (VALE3.SA) , opens new tab said on Friday it expects to raise iron ore production in its main complex Carajas, in northern Brazil, by nearly 13% through 2030 as part of a 70 billion real ($12.26 billion) investment plan in the region. Brazil's presidential palace announced the investment on Wednesday, and Vale unveiled details on Friday at an event attended by Brazil's President Luiz Inacio Lula da Silva. Vale is among the world's largest iron ore producers. Carajas, in Brazil's Para state, is the miner's main output complex for the steel-making ingredient. In Carajas, Vale produced 177.5 million metric tons of iron ore last year, more than half its total output of the commodity in the period. Vale said on Friday it expects iron ore production in the complex to reach 200 million tons per year by 2030, with the boost coming from moves such as the expansion of its Serra Sul mine. At the event, Lula said the election of Gustavo Pimenta as Vale's chief executive last year was an opportunity to realign Vale's interests with Brazil's interests. He and his cabinet members had complained in the past about Vale's lack of investment in Brazil and delays in repair after a 2015 dam collapse. An agreement was ultimately sealed in October. "It is important that Vale takes into account that it has to distribute dividends to shareholders," Lula said. "But it is also important that it takes into account that it has to invest in order to grow, to generate jobs". Minister for Mines and Energy Alexandre Silveira said the government has seen signs of improvement under Vale's new management. Apart from iron ore, Vale said it sees its copper production at Carajas growing by 32% to about 350,000 tons by 2030 with the investment plan, dubbed "New Carajas". The company said the investments toward the plan are in line with its guidance. ($1 = 5.7110 reais) Sign up here. https://www.reuters.com/markets/commodities/brazils-vale-confirms-12-billion-investment-carajas-complex-through-2030-2025-02-14/
2025-02-14 23:41
Airbnb rises on upbeat quarterly results DaVita falls after Q4 results; Berkshire Hathaway cuts stake January retail sales at -0.9% MoM vs -0.1% estimate S&P 500 -0.01%, Nasdaq +0.41%, Dow -0.37% Feb 14 (Reuters) - Wall Street stocks ended mixed on Friday, with Nvidia (NVDA.O) , opens new tab climbing and Microsoft (MSFT.O) , opens new tab dipping, while Treasury yields declined a day after U.S. President Donald Trump unveiled reciprocal tariff plans but stopped short of imposing new ones. Yields across government bonds slipped for a second straight day after data showed U.S. retail sales fell more than expected in January, dropping 0.9% last month after an upwardly revised 0.7% increase in December. The yield on the 10-year note fell about 7 basis points, last at 4.44%. The Nasdaq 100 (.NDX) , opens new tab, which is made up of the Nasdaq exchange's most valuable companies, rose 0.4% and notched a record-high close. Nvidia added 2.6%, while Apple (AAPL.O) , opens new tab moved 1.3% higher. Microsoft (MSFT.O) , opens new tab dipped about 0.5% and Amazon (AMZN.O) , opens new tab slid 0.7%. Trump tasked his economics team on Thursday to devise plans for reciprocal tariffs on every country taxing U.S. imports, although the directive stopped short of imposing fresh tariffs. Howard Lutnick, Trump's pick for commerce secretary, said the administration would address affected countries individually and said studies of the issue would be completed by April 1. The imposition of tariffs on steel and aluminum imports, a bigger-than-expected rise in January's consumer prices and hawkish comments from Federal Reserve Chair Jerome Powell added to market volatility this week. "It's all about Trump right now. All the other stuff is just noise," said Dennis Dick, a trader at Triple D Trading in Ontario, Canada. "What everyone is focused on is, 'What is Trump going to do next, and where are his tariff wars going?'" Stocks received a boost earlier this week after data showed U.S. producer prices increased in January, while key elements in the core Personal Consumption Expenditures index, a measure closely tracked by the Fed, were benign or lower. Traders are pricing in at least one 25 basis-point interest rate cut by the end of the year, with a roughly 50% chance of an additional cut, according to LSEG data. The S&P 500 edged down 0.01% to end the session at 6,114.63 points. The Nasdaq gained 0.41% to 20,026.77 points, while the Dow Jones Industrial Average declined 0.37% to 44,546.08 points. Of the 11 S&P 500 sector indexes, seven declined, led lower by consumer staples (.SPLRCS) , opens new tab, down 1.16%, followed by a 1.11% loss in healthcare (.SPXHC) , opens new tab. Volume on U.S. exchanges was relatively light, with 14.4 billion shares traded, compared with an average of 15.0 billion shares over the previous 20 sessions. For the week, the S&P 500 rose 1.5%, while the Nasdaq gained 2.6% and the Dow added 0.5%. Airbnb (ABNB.O) , opens new tab jumped 14% after the vacation home rentals company posted higher quarterly revenue. DaVita (DVA.N) , opens new tab dropped 11% after the dialysis firm projected annual profit below estimates. Warren Buffett's Berkshire Hathaway (BRKa.N) , opens new tab also sold some of its shares in the company. Applied Materials (AMAT.O) , opens new tab fell 8% after the chipmaking equipment maker forecast second-quarter revenue below estimates. U.S. markets will be closed on Monday for the Presidents Day holiday. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) , opens new tab by a 1.3-to-one ratio. The S&P 500 posted 37 new highs and 7 new lows; the Nasdaq recorded 131 new highs and 83 new lows. Sign up here. https://www.reuters.com/markets/us/futures-stall-markets-await-tariff-details-2025-02-14/
2025-02-14 23:41
Feb 14 (Reuters) - U.S. energy firm Ameren's (AEE.N) , opens new tab Missouri unit said on Friday that it had made significant changes to its strategy to accelerate investment in generation, bolster reliability and create jobs. The change aims to provide for 1.5 gigawatts (GW) of expected new demand by 2032 with a balanced mix of generation resources, the company said in a statement. It said it had filed a $16.2 billion, five-year energy plan with the Missouri Public Service Commission, the state's utility regulator, to invest in modern infrastructure, enhancing grid reliability and resilience to support new generation. In the updated plan, the company said it plans to build 1,600 megawatts of natural gas-fired generation, 2,700 MW of wind and solar, 1,000 MW of battery storage by 2030, and 1,500 MW of new nuclear energy by 2045. Meanwhile, Ameren on Thursday reported lower-than-expected fourth-quarter net profit due to higher interest and operating expenses. Ameren Missouri has been significantly investing in grid infrastructure upgrades, leading to increased borrowing and higher interest payments. Sign up here. https://www.reuters.com/business/energy/ameren-missouri-updates-generation-strategy-boost-investment-jobs-2025-02-14/
2025-02-14 23:19
Feb 14 (Reuters) - The Wyoming Department of Health said on Friday it has identified its first human case of H5N1 bird flu in the region, making it the third confirmed instance of hospitalization related to the infection in the United States. "The woman is hospitalized in another state, has health conditions that can make people more vulnerable to illness, and was likely exposed to the virus through direct contact with an infected poultry flock at her home," Wyoming's state health officer Alexia Harrist said. Bird flu has infected nearly 70 people in the United States, with one death, since last April. Most of those infections have been among farm workers exposed to infected poultry or cows. The U.S. Centers for Disease Control and Prevention, however, has said the risk of infection to the general public is low. Earlier in the day, the U.S. Department of Agriculture gave a conditional approval to animal healthcare company Zoetis (ZTS.N) , opens new tab to use its bird flu vaccine in poultry. Sign up here. https://www.reuters.com/business/healthcare-pharmaceuticals/wyoming-identifies-first-human-case-bird-flu-2025-02-14/
