2025-11-04 15:29

Nov 4 (Reuters) - Palantir Technologies (PLTR.O) , opens new tab fell around 6% on Tuesday as a strong quarterly update from the company failed to extend its record-breaking rally. The company, which has more than doubled in value this year, forecast fourth-quarter revenue above market expectations on Monday, driven by a rapid AI adoption boosting demand for its data analytics services. Sign up here. The company's stock has been riding on its strong relationship with the U.S. government after it won a slew of contracts, including using Palantir's data and AI technology in defence work. "Big Short" investor Michael Burry, known for his successful bets against the U.S. housing market in 2008, has now placed bearish bets on Nvidia (NVDA.O) , opens new tab and Palantir, according to a regulatory filing on Monday. Late last month, Burry, in his first X post in more than two years, warned of a bubble, fanning investor concerns over inflated spending in the AI and tech industry. "Time will tell if Burry has got his timing right or if the share decline in pre-market trading simply represents a pause for breath before Palantir starts racing higher again," said Dan Coatsworth, head of markets at AJ Bell. Palantir's shares are up more than 170% so far this year, after having surged around 1,000% in the past two years, sharply outpacing tech firms including Big Tech and AI giants Microsoft (MSFT.O) , opens new tab, Amazon (AMZN.O) , opens new tab and Alphabet (GOOGL.O) , opens new tab. Palantir has emerged as a retail favorite over the years, with daily retail cash turnover of about $302 million as of last close, the third highest among U.S.-listed shares that Vanda Track Research monitors. If current losses hold, the company is set to erase over $33 billion from its market value. Palantir trades at nearly 250 times its 12-month forward earnings estimates, compared with AI chip frontrunner Nvidia's 33 and Microsoft's 29.92 https://www.reuters.com/technology/palantir-shares-drop-europe-despite-earnings-beat-2025-11-04/

2025-11-04 14:36

BRUSSELS, Nov 4 (Reuters) - The European Commission said on Tuesday it welcomed industry indications that China had engaged with EU companies to restore partial flow of chips, preventing a worst-case scenario and creating time and space to find a lasting solution. "We welcome the constructive approach shown by the Netherlands and China," the EU executive said. Sign up here. It added that the Commission, led by EU trade chief Maros Sefcovic, would continue engagement to find a solution that restored functioning supply chains, while respecting EU economic security. https://www.reuters.com/business/retail-consumer/eu-sees-time-space-find-nexperia-solution-with-worst-case-avoided-2025-11-04/

2025-11-04 12:42

VIENNA, Nov 4 (Reuters) - The CEO of Austrian energy firm OMV on Tuesday urged the European Union to reconsoder its sustainability legislation or risk losing Qatar as a gas supplier which would undermine prosperity in the region. Qatar's Energy Minister Saad al-Kaabi, who is also CEO of QatarEnergy said on Monday that he could halt business with the EU if it does not significantly ease its Corporate Sustainability Due Diligence Directive. Sign up here. Kaabi told Reuters at the ADIPEC energy conference in Abu Dhabi that Qatar has contingency plans in place should it decide to stop shipments to Europe in response to the directive - a threat he has repeatedly said is not a bluff. "If the tanker from Qatar no longer docks in Europe, we will have a huge problem," OMV CEO Alfred Stern told Austrian newspaper Kronen Zeitung on Tuesday. "We must remain pragmatic now, because if we lose access to competitive energy, our prosperity will also decline," Stern said, adding that the EU risks alienating other energy supplying nations if it does not reverse course on sustainability. The EU sustainability directive requires companies doing business in the bloc to address human rights and environmental risks across their supply chains, and aims to hold companies accountable for harm even in operations outside Europe. https://www.reuters.com/business/energy/omv-ceo-warns-eu-risks-losing-qatari-gas-over-sustainability-law-2025-11-04/

2025-11-04 12:41

LONDON, Nov 4 (Reuters) - Iraq has cancelled the loading of three crude oil cargoes from Lukoil (LKOH.MM) , opens new tab in November, two market sources said on Tuesday citing concerns over U.S. and UK sanctions on the Russian oil major. Iraq's state firm Somo cancelled cargoes from Lukoil's equity production at the West Qurna-2 field, the sources said. The cargoes had been meant to load on November 11, 18 and 26, the sources said. Lukoil and Somo were not immediately available for comment. Sign up here. Russia's second-largest oil company, Lukoil, was sanctioned by the United States and the United Kingdom in recent weeks, making it very complicated for the company to conduct its normal operations. The U.S. Treasury Department issued a licence giving companies until November 21 to wind down any transactions with Lukoil and number-one producer Rosneft (ROSN.MM) , opens new tab. Lukoil last week said it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which it was seeking to sell after Washington imposed the sanctions. https://www.reuters.com/business/energy/iraq-cancels-lukoil-oil-cargoes-loading-amid-sanctions-sources-say-2025-11-04/

2025-11-04 12:38

Gas producer Energean signs letter of intent CEO says gas could flow within 12 months Pipeline capacity of 1 billion cubic metres a year ABU DHABI, Nov 4 (Reuters) - A $400 million pipeline to transport natural gas from Israel to Cyprus is awaiting government approval from both countries and Israel has expressed support, the head of Eastern Mediterranean focused gas producer Energean (ENOG.L) , opens new tab told Reuters on Tuesday. Energean on Monday signed a letter of intent with leading Cypriot industrial and energy group Cyfield for the potential supply of natural gas from Israel to Cyfield's planned power plant via the new pipeline, said Mathios Rigas, CEO of the British firm. Sign up here. Gas could flow through the pipeline within 12 months of the government approvals being granted, said Rigas, speaking in an interview on the sidelines of the ADIPEC energy conference in Abu Dhabi. Energean is awaiting a response from the Cypriot government, he added. 1 BILLION CUBIC METRES CAPACITY "The pipeline would have the capacity of 1 billion cubic metres a year, enough to bring all the gas the Cyfield project needs, but also to give more to the island if others need to use the gas," Rigas said. The project, which would cost $400 million, could be fully funded by Energean, but partners may also be brought in the future, Rigas said. Energean is also waiting government approvals for another gas supply deal, from Israel to Egypt via the planned Nitzana pipeline, which Israel has not yet approved. The pipeline would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas and is part of a concerted effort to boost Israeli gas exports to the Arab world's most populous nation. The company in October signed a 15-year transmission agreement as part of $4 billion worth of Israeli gas offtake contracts. EGYPT-ISRAEL GAS SUPPLY DEAL SUBJECT TO GOVERNMENTS Commenting on delay of the deal, Rigas said the issue was between the governments of the two countries and not between the business partners. "It is between the Israeli and Egyptian governments to decide what can happen," he said. Israel's Energy Minister Eli Cohen has said he was holding up the approval for the $35 billion gas deal to secure better commercial terms for the Israeli market, Israeli media reported last week. Rigas said that he still has confidence that obstacles could be removed. "I believe that the obstacles will be removed because it makes sense for infrastructure to be placed to allow gas to be transported in the East Mediterranean," Rigas said. "I paid $47 million already. If I didn't have confidence, it would not be a very wise decision," he added. https://www.reuters.com/business/energy/new-400-million-israel-cyprus-gas-pipeline-awaiting-government-approvals-2025-11-04/

2025-11-04 12:30

LONDON, Nov 4 (Reuters) - Britain on Tuesday imposed a mandatory housing measure for birds covering the whole of England, effective Thursday, in a bid to slow the spread of bird flu. The disease is spreading rapidly in Europe, with the highest number of countries in at least a decade reporting early outbreaks, raising concerns of a repeat of past crises that led to the culling of tens of million birds and higher food prices. Sign up here. Two outbreaks at commercial poultry units were confirmed on Monday, one in North Yorkshire and the other in Devon, and a third among captive birds in East Sussex. There have now been 23 outbreaks of the disease in the United Kingdom so far in the 2025/26 season, which began on October 1, including 19 in England. Keepers of less than 50 birds are exempt from the housing measure, as long as any eggs and poultry products are for their own use only. The disease is spread primarily by wild birds migrating south in the autumn. The risk of bird flu for humans remains low, with most people infected having been in close contact with infected animals, but the virus needs to be monitored as it increasingly spreads to mammals, the World Health Organization says. https://www.reuters.com/business/healthcare-pharmaceuticals/mandatory-bird-housing-imposed-england-bird-flu-spreads-2025-11-04/