Latest news with #EuropeanUnionEmissionsTradingSystem
Malaysian Reserve
16 hours ago
- Business
- Malaysian Reserve
NYSE Content Advisory: Pre-Market update + U.S. & China agree to framework of deal
NEW YORK, June 27, 2025 /CNW/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. J.D. Durkin delivers the pre-market update on June 27th Stocks are moving fractionally higher Friday morning, with the S&P 500 on pace to set a record after finishing just shy of the mark on Thursday. Overall, the major averages each ended Thursday's session higher. President Trump told reporters yesterday that the U.S. and China agreed to the framework of a trade deal. This development comes after initial talks in Geneva in May resulted in a postponement of escalating reciprocal tariffs. Later this morning, the University of Michigan will reveal its final June reading on consumer sentiment. A preliminary reading earlier in the month showed that sentiment had risen by 16% since May. Opening BellCOtwo Advisors celebrates the launch of CTWO, the first ETP providing physical exposure to the European Union Emissions Trading System Closing BellNew York Life Investments recognize IWLG & IWFG for delivering top quartile performance since inception Click here to download the NYSE TV App
Cision Canada
17 hours ago
- Business
- Cision Canada
NYSE Content Advisory: Pre-Market update + U.S. & China agree to framework of deal
NEW YORK, June 27, 2025 /CNW/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. J.D. Durkin delivers the pre-market update on June 27th Stocks are moving fractionally higher Friday morning, with the S&P 500 on pace to set a record after finishing just shy of the mark on Thursday. Overall, the major averages each ended Thursday's session higher. President Trump told reporters yesterday that the U.S. and China agreed to the framework of a trade deal. This development comes after initial talks in Geneva in May resulted in a postponement of escalating reciprocal tariffs. Later this morning, the University of Michigan will reveal its final June reading on consumer sentiment. A preliminary reading earlier in the month showed that sentiment had risen by 16% since May. Opening Bell COtwo Advisors celebrates the launch of CTWO, the first ETP providing physical exposure to the European Union Emissions Trading System Click here to download the NYSE TV App SOURCE New York Stock Exchange
Yahoo
15-04-2025
- Business
- Yahoo
EU Responds to Steel Import Dumping Concerns
Via Metal Miner Amid chaos from steel tariffs, the European Commission plans to tighten steel import quotas on April 1 over fears of dumping on the bloc. Those fears primarily stem from U.S. President Donald Trump's implementation of 25% duties on all steel and aluminum imports into the United States, which came into effect in early March. The measures are part of a several-point document titled 'A European Steel and Metals Action Plan,' which the European executive released on March 19. The EC noted that further plans for the EU steel industry include introducing measures to replace steel safeguards no later than Q3 2025 and ferroalloy safeguards by November 18. Besides placing safeguard measures on imports, the plan also stipulates ensuring sufficient scrap supply. This includes trade measures to include sufficient availability by Q3 at the latest. Stay informed, prepared, and profitable, even in a volatile steel market by subscribing to MetalMiner's weekly newsletter. The European Commission also stated that plans are underway for additional measures aimed at preventing carbon leakage, noting, 'While the Carbon Border Adjustment Mechanism applies to imported goods, it does not deal with the possible carbon leakage risks for metals produced in the EU that are subject to the European Union Emissions Trading System price and which are exported to third countries, competing with producers based in countries with lower climate ambitions.' The EC now plans to issue a comprehensive review on how to address carbon leakage for CBAM goods by Q4. The analysis will include extending its scope to certain steel and aluminum-intensive downstream products as well as additional anti-circumvention measures. Amid its renewed focus on carbon-related issues, the EC also plans to issue information on how to address carbon leakage for CBAM goods exported from the EU to third countries by Q2. The data will primarily focus on providing analysis and options. 'There is a risk of circumvention of CBAM objectives when goods produced in low-carbon production facilities in third countries are redirected to European customers while carbon-intensive production continues for other markets (so-called 'shuffling'),' the report stated. 'Similarly, greenwashing can occur through carbon accounting practices, such as energy-intensive metals production benefiting from market-based instruments to appear low-carbon while still relying on high-emission energy sources or misleading scrap content accounting practices.' The European Steel Association gave a positive assessment of the EC plan and the issues it covered. However, Eurofer stressed the need to reduce the high energy prices still affecting European steelmakers. 'Despite the positive proposals from the Commission, energy remains the elephant in the room. High energy prices affect not only steel and metals production, but they are dragging down entire European industrial value chains. Further work to reduce energy costs is crucial', said Eurofer president Dr. Adam Henrik. Trading Economics shows that benchmark TTF natural gas prices in Europe were €42.57 ($46.07) per megawatt hour on March 21, up 12.6% from €37.79 ($40.89) on March 12. This is mainly due to continued attacks on Russian and Ukrainian energy networks and arising concerns about gas supplies. The dynamics of how these geopolitical developments all impact steel and aluminum tariffs are covered in MetalMiner's free comprehensive tariff guide. 'On [March 21] alone, prices jumped nearly 3% after an attack on Russia's Sudzha gas metering station in the Kursk region, which previously transported gas to Europe,' Trading Economics stated. 'With Russian pipeline flows unlikely to return soon, Europe faces a challenging storage buildup ahead of next winter. Currently, gas reserves are only 34% full, with a 90% target set for November 1.' By Christopher Rivituso More Top Reads From this article on
Yahoo
01-03-2025
- Business
- Yahoo
Citizens shocked over government's billion-dollar offshore decision: 'We have a moral responsibility to act'
Norway generates more than 95% of its electricity from renewables, according to the International Energy Agency, but it seems committed to expanding its oil and gas portfolio. Reuters reported in January that Norway approved 53 exploration permits for 20 companies interested in offshore oil and gas drilling in the Arctic. "If we are to uphold a stable production in the years to come, we must explore more and invest more," Energy Minister Terje Aasland said. Even though the Scandinavian country is internally dependent on clean energy, it is the world's fourth-largest exporter of natural gas, sitting behind only the United States, Russia, and Qatar. Since Russia's invasion of Ukraine in 2022, it has become Europe's top provider. The scientific consensus is that pollution from dirty fuels is the primary reason the planet is warming at an unnatural rate, contributing to more intense extreme weather, food insecurity, displacement, and the spread of disease, among other troublesome effects. The awarded total represented a dip from last year's 62 licenses to 24 companies, per the report, yet it was an increase from 2023's numbers. Norway also suggested an expanded Arctic exploration was on the way. Environmental organizations such as Greenpeace, Grandparents for Climate, and Extinction Rebellion were alarmed by the country's continued commitment to dirty fuels, sparking protests outside the hotel where Aasland made the announcement. "We have a moral responsibility to act," climate advocate Greta Thunberg, who joined the protest, told public broadcaster NRK, according to Reuters. One key factor driving the dirty fuel investment is a desire for economic prosperity and security. In Norway, whose grid mostly relies on hydropower thanks to its abundant natural resources, the oil industry is expected to make up 20.5% of the GDP in 2025, per Statista. To help offset this, the country has adopted a "polluter-pays principle," according to the International Energy Agency, becoming one of the first nations to implement a carbon tax in 1991. Now, around 85% of its domestic planet-warming pollution is subject to a CO2 tax, covered by the European Union Emissions Trading System, or both. Could America stop using oil and gas by 2050? For sure No way Only certain states could I'm not sure Click your choice to see results and speak your mind. In many countries, energy independence is a primary concern, as it can help lower electricity costs. However, renewable power is typically more affordable and has less volatile pricing. To that end, the EU has boosted its share of clean power. For instance, according to Ember, wind and solar outpaced dirty fuel consumption in the first half of 2024. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
