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Bank of Japan Holds Rates, Plans Slower Withdrawal From Bond Market

Bank of Japan Holds Rates, Plans Slower Withdrawal From Bond Market

Yahoo5 hours ago

The Bank of Japan left its benchmark rate unchanged on Tuesday and said it would slow its tapering of government bond buying from the start of the next fiscal year. Bloomberg's Shery Ahn reports from Tokyo.

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China's Oil Demand Will Peak Earlier Than Expected, IEA Says
China's Oil Demand Will Peak Earlier Than Expected, IEA Says

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time26 minutes ago

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China's Oil Demand Will Peak Earlier Than Expected, IEA Says

(Bloomberg) -- China's oil demand will stop growing earlier than expected, reinforcing the outlook for a global peak and prolonged supply surplus this decade, the International Energy Agency said. Security Concerns Hit Some of the World's 'Most Livable Cities' As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe The IEA slashed forecasts for Chinese consumption until 2030 by about 1 million barrels a day amid 'extraordinary' domestic sales of electric vehicles. It predicts the nation's demand — which has dominated world growth this century — will top out in 2027, and worldwide oil use two years after that. While the Israel-Iran conflict has stirred concern over immediate energy stockpiles, 'oil markets look set to be well-supplied in the years ahead,' IEA Executive Director Fatih Birol said. The agency was created in the 1970s to advise major consumers on energy policy. Crude prices surged the most in three years Friday as Israel launched airstrikes on OPEC member Iran, though the gains have since cooled as oil exports remain unaffected. US futures traded near $70 per barrel Monday, down 19% from last year's peak, amid expectations of an impending surplus. China's oil use will reach a maximum 16.9 million barrels a day by 2027, peaking roughly two years earlier than previously forecast, according to the IEA's report. Besides the ascent of EVs, high-speed rail and trucks powered with natural gas will help displace crude oil. China National Petroleum Corp., the country's largest energy producer, predicted in December that peak demand may arrive as early as this year. The IEA projects that global oil demand growth will slow to a 'trickle' the next few years, with consumption at a maximum of 105.5 million barrels a day in 2029 — roughly in line with last year's forecast. It would then decline slightly the following year. With China fading, the anticipated worldwide demand growth — amounting to about 2.5 million barrels a day total by 2030 — will largely come from India and other emerging economies. Forecasts for US oil demand were bolstered by roughly the amount that China's were cut as America cools on EVs. As Beijing recedes from the center of oil demand, the US will diminish in importance to global supplies after its shale oil boom helped provide about 90% of growth during the past decade. Investment is slowing as crude prices falter. 'When we look at oil market trends over the past decade, we see a remarkable double act' in China and the US, Birol said. 'But these dynamics are shifting.' America's output will nonetheless keep growing, complemented by Brazil, Canada and Guyana. About 5.1 million barrels of production capacity will be added globally this decade, double the increase in oil demand. Many leading players in the energy industry expect oil use will prove more tenacious than the IEA anticipates. Vitol Group, known as the world's biggest independent oil trader, and some Wall Street banks such as Bank of America Corp. have predicted that peak demand won't arrive until after 2030. Some of the IEA's other forecasts, such as its projection of a decline in coal demand, have missed the mark. At the extreme end of the spectrum, the Organization of the Petroleum Exporting Countries projects that oil demand will keep increasing until at least the middle of the century, though the cartel has backtracked on prior short-term forecasts that proved excessively bullish. While the OPEC+ alliance led by Saudi Arabia has in recent months started to ramp up the production halted during the past few years, the IEA sees limited need for those extra barrels as rivals expand. 'OPEC+ may struggle to regain substantial market share,' according to the report. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros American Mid: Hampton Inn's Good-Enough Formula for World Domination How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Peak Energy acquires 48 MW ready-to-build solar portfolio in Japan
Peak Energy acquires 48 MW ready-to-build solar portfolio in Japan

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Peak Energy acquires 48 MW ready-to-build solar portfolio in Japan

The portfolio of projects will come online progressively over 2026-2028 and be combined with battery storage to maximize climate impact and cost savings for customers. SINGAPORE and TOKYO, June 17, 2025 /PRNewswire/ -- Peak Energy, one of the fastest-growing renewable energy developers in Asia, has completed the acquisition of a unique portfolio of ready-to-build (RTB) high-voltage solar sites in Japan. Located across different regions of Japan, including Tokyo and Tohoku, the projects have a combined capacity of 48 MW, sufficient to produce nearly 60 GWh of zero-carbon electricity per year, equivalent to the power consumption of around 15,000 households. In the process, the solar systems will help avoid nearly 27,000 tonnes of CO₂ emissions annually, equivalent to removing around 9,000 cars from the road. The solar plants are scheduled to come on stream over 2026-2027, with the electricity output sold to corporates through long-term power purchase agreements (PPAs). Prices will be fixed from day one until the end of the 20+ year PPAs, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs over the long term. Selected sites will also see battery energy storage systems (BESS) collocated with the solar PV installations, allowing customers to make additional savings and expand their use of renewable power into the night. This transaction further highlights Peak Energy's rapid growth in Japan, following the acquisition earlier in 2025 of another set of ready-to-build high-voltage solar sites, of 11 MW. Peak Energy since 2022 also co-owns a 28 MW solar plant in Kyushu and actively offers corporate power users in the country a range of energy services, such as cheap onsite solar PPAs, offsite solar PPAs and collocated solar+BESS PPAs. "This acquisition further cements our position in Japan, where we are now uniquely positioned to serve large power consumers with cheap, clean energy at the scale the require and within the timeframe they need to meet their climate objectives," said Gavin Adda, CEO of Peak Energy. "I am particularly excited about Peak now also adding storage to some of our sites, to offer time-shifted PPAs, and helping some of our most ambitious consumers get closer to their 24/7 Carbon-Free Energy ambitions." About Peak Energy Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Across the Asia-Pacific region, Peak owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management. Peak is a member of the 24/7 Carbon-Free Energy (CFE) Compact. View original content to download multimedia: SOURCE Peak Energy

SoftBank Sells T-Mobile Stake for $4.8 Billion to Bet on AI
SoftBank Sells T-Mobile Stake for $4.8 Billion to Bet on AI

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time37 minutes ago

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SoftBank Sells T-Mobile Stake for $4.8 Billion to Bet on AI

(Bloomberg) -- SoftBank Group Corp. raised around $4.8 billion through a sale of T-Mobile US Inc. shares, a move that helps fund the Japanese company's grandiose plans for artificial intelligence. Security Concerns Hit Some of the World's 'Most Livable Cities' As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe The Tokyo-based technology group sold 21.5 million T-Mobile shares for $224 each — pricing at the bottom of the $224 to $228 range — in an unregistered overnight block sale, according to the final terms of the deal seen by Bloomberg News. The offering, which Bloomberg reported earlier, represents a discount of 3% to T-Mobile US's Monday closing price of $230.99 per share. SoftBank founder Masayoshi Son is ramping up investments aimed at making AI reasoning superior to humans'. He's overseeing plans to put down as much as $30 billion in OpenAI and is also working with the ChatGPT creator to ferry hundreds of billions of dollars into data centers and related infrastructure around the world under the Stargate banner. SoftBank's original plans for debt financing had snagged on uncertainties around US tariffs. T-Mobile shares fell 3.9% in extended trading, while SoftBank's shares rose 2.1% in Tokyo. A representative of SoftBank declined to comment. Representatives of T-Mobile did not immediately respond to a request for comment outside normal business hours. The deal is the biggest US share sale since Toronto-Dominion Bank sold a $13.1 billion stake in brokerage firm Charles Schwab Corp. in February. Sales of new and existing shares in US-listed companies reached $91.4 billion in the year to date, up from $75.9 billion in the same period a year ago, data compiled by Bloomberg show. The T-Mobile stake sale would be the latest example of Son tapping past investment successes — such as an early bet on Alibaba Group Holding Ltd. that's yielded thousands-fold returns — to fund new ventures. What Bloomberg Intelligence Says This sale could lower adjusted loan-to-value by 1-2 percentage points, but it might need to monetize close to $10 billion more to keep adjusted LTV below a 30% downgrade trigger — assuming it invests about $40 billion in OpenAI, Stargate and the acquisition of Ampere Computing — based on March figures and the current share prices for Arm, SoftBank Corp. and T-Mobile. -Sharon Chen, analyst Click here for the research SoftBank received T-Mobile shares with the completion of the US telecom company's $26.5 billion acquisition of Sprint Corp. in April 2020. Later that year, SoftBank substantially reduced its stake in T-Mobile via a $21 billion deal that helped pay for a record buyback of SoftBank's shares. The stake offered represents about 1.9% of T-Mobile's outstanding shares, according to Bloomberg calculations. SoftBank owned 85.4 million shares or 7.5% of T-Mobile as of March 31, according to its annual report. Deutsche Telekom AG is T-Mobile's largest shareholder with a 59% stake, according to a June 12 filing with the US Securities and Exchange Commission. Bank of America Corp. was sole bookrunner for the deal, the terms show. --With assistance from Min Jeong Lee, Edwin Chan and Ville Heiskanen. (Updates with analyst commentary and share reaction.) Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros American Mid: Hampton Inn's Good-Enough Formula for World Domination How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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