Latest news with #PhaseOne
Yahoo
3 days ago
- Business
- Yahoo
What is eminent domain? What to know about Iowa's bill limiting it for carbon pipelines
After years of inaction, Iowa lawmakers have finally sent Gov. Kim Reynolds a bill limiting the use of eminent domain for carbon capture pipelines. Reynolds' spokesperson says she is reviewing the legislation, which has implications for Summit Carbon Solutions' proposed $8.9 billion carbon sequestration pipeline that would span 2,500 miles across South Dakota, Iowa, Minnesota, Nebraska and North Dakota to connect 57 ethanol plants. The measure isn't a full ban on eminent domain for carbon capture pipelines, as some advocates wanted. Instead, it combines several other pieces of legislation that limit eminent domain in certain circumstances, requires projects to carry more insurance and places new guidelines on the Iowa Utilities Commission. More: Republicans' frustrations spill into debate as Iowa Senate passes eminent domain bill Here's what to know about the bill. Eminent domain is the power to take private property for public use, with the property owner receiving compensation. The Iowa Utilities Commission is the body in charge of granting eminent domain to projects such as electric transmission lines and pipelines. The commission granted Summit eminent domain powers in 2024 to acquire land, or access to land, from owners who aren't willing to sign voluntary agreements with the company. Opponents of Summit's pipeline say they do not believe the project qualifies as a public use. Summit officials have said the company has invested nearly $175 million on voluntary agreements in Iowa, signed agreements with more than 1,300 landowners and secured 75% of the Phase One route. More: How Iowa lawmakers voted on a bill limiting eminent domain for carbon capture pipelines The bill, House File 639, passed the Senate in a 27-22 vote and now awaits Reynolds' signature. Here's what it says. Pipeline companies must prove that their project is insured sufficiently to cover any losses or injury from the pipeline construction and any discharge. The company would have to either buy insurance for affected landowners or reimburse them for increased insurance premiums due to the pipeline's presence. Hazardous liquid pipelines could not receive eminent domain powers unless they qualify as common carriers, meaning they can prove they will sell the commodity to an unaffiliated buyer. All Iowa Utilities Commission members must be present at hearings on proposed public utility regulations, electric transmission lines and pipelines and at least one commissioner must be present at informational meetings held in counties along the project's route. The Iowa Utilities Commission could not renew any permit granted to a liquefied carbon dioxide pipeline and no CO2 pipeline would be allowed to operate longer than 25 years. State lawmakers, city and county officials and 'any resident with a minimally plausible interest' would be allowed to intervene in Iowa Utilities Commission cases. The Iowa Utilities Commission could not file sanctions against intervenors unless the commission determines the intervenor was knowingly dishonest, committed a crime or caused injury to the commission. Catch up on the tense Senate debate over the legislation here. This article originally appeared on Des Moines Register: What is eminent domain? What to know about Iowa's House File 639
Business Times
3 days ago
- Business
- Business Times
Trade talks get bumpier, but China's dark-horse status will hold firm
ON MAY 12, both China and the United States took a major step forward by slashing tariffs. The US announced a sweeping cut from 145 per cent to 30 per cent on Chinese imports. The figure includes a 10 per cent 'reciprocal' tariff and 20 per cent tied to fentanyl concerns. China responded in kind, slashing duties on US goods from 125 per cent to 10 per cent, and temporarily halting non-tariff measures that were previously imposed on US entities under its unreliable-entity list and export-control list. Talks between the US and China continued on May 22, with both sides signalling a willingness to continue dialogue. That was a positive gesture that markets welcomed. It seems that the risk of escalating tariffs is easing between the two major superpowers, and markets are starting to breathe a little easier. Tariff de-risking only a temporary reprieve While recent breakthroughs have dominated headlines, the prospect of further tariff reductions appears limited in the near term. The 'reciprocal' US tariff has already been reduced to 10 per cent, a threshold previously accepted by US President Donald Trump in negotiations with allies such as the United Kingdom, and now seemingly established as a de facto floor. On the other side, China remains steadfast on the fentanyl issue. Beijing has pushed back on Washington's framing, stating the issue as a domestic challenge for the US rather than a bilateral concern. With Beijing unwilling to soften its stance on fentanyl-related claims, the current combined tariff rate of 30 per cent could prove sticky. The risk of a renewed tariff escalation remains on the table. Trump's erratic history on trade policy serves as a reminder of how quickly detente can unravel. In 2018, a similar pause gave way to an abrupt US reversal, prompting over 18 months of trade tensions before the 'Phase One' agreement was eventually signed in January 2020. In that light, today's 'thaw' should be seen as fragile, not final. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Looking ahead, the pace of negotiations is expected to slow. Buoyed by its perceived success in this latest round, Beijing appears more confident in its hardline approach. Washington, meanwhile, has yet to make progress on reducing the trade deficit. The misalignment in strategic goals, coupled with Trump's simultaneous trade talks with other nations, suggests that any substantial progress will take time. Given this dynamic, tariff levels are likely to hold near the 30 per cent mark – or potentially edge higher. Full-scale decoupling remains less likely, as future tariff measures are expected to be more targeted, focusing on strategic sectors such as semiconductors and aluminium, rather than broad-based increases. China's growth risks remain contained China's economy has already felt the sting of triple-digit US tariffs in April. The official NBS Manufacturing purchasing managers' index slipped to 49 in April – the fastest contraction in 16 months – as sentiment deteriorated across both domestic and external-facing industries. In response, Beijing has activated its macroeconomic toolkit to shore up liquidity amid ongoing trade pressures. Ahead of recent tariff talks, the People's Bank of China (PBOC) cut the required reserve ratio by 50 basis points (bps) and trimmed the seven-day reverse repo rate by 10 bps to 1.4 per cent. The easing momentum continued on May 20, with PBOC lowering both the one-year and five-year loan prime rates by 10 bps, signalling a push to stimulate consumer and corporate borrowing. These consecutive moves underscore Beijing's commitment to supporting domestic growth against the backdrop of external challenges. Meanwhile, efforts to pivot trade flows are starting to bear fruit. April's trade data showed exports rising a robust 8.1 per cent year on year – well ahead of market expectations of 1.9 per cent. While shipments to the US fell sharply by 21 per cent, this was offset by strong export growth to Asean (+20.8 per cent), Taiwan (+15.5 per cent) and Japan (+7.8 per cent). Tariffs remain a structural headwind, but China appears increasingly equipped to cushion their impact. With US tariffs now scaled back to 30 per cent, the estimated drag on China's GDP in 2025 is forecast to narrow to just 0.3 percentage points, a marked improvement from the previously projected 1 percentage point hit under the former 145 per cent tariff level. This more manageable burden better positions China to achieve its target of around 5 per cent GDP growth for the year. Domestic-focused tech leaders better insulated In a macro environment where tariffs remain elevated at 30 per cent – with the potential to climb further – Chinese companies with a domestic orientation appear better positioned to navigate trade-related headwinds. On average, constituents of the MSCI China Index derive just 15 per cent of their revenue from international markets, well below the levels seen in MSCI emerging markets ex-China (29 per cent) and MSCI Japan (47 per cent). Technology heavyweights such as Alibaba, and Tencent exemplify this resilience, with overseas revenue exposure of 10 per cent or less. This limited external dependence provides a natural buffer against geopolitical and trade shocks. These firms have also delivered strong results in the first quarter of 2025, buoyed by a recovery in consumer demand and strong momentum in artificial intelligence (AI)-related product revenues. The earnings rebound has driven notable sector outperformance, with consumer discretionary and communication services posting the highest positive earnings surprises at 9.3 and 6.9 per cent, respectively. China's economy continues to draw support from diversified trade flows and timely policy stimulus aimed at anchoring growth. A renewed emphasis on domestic consumption and advancements in AI are also injecting fresh momentum into the country's technology sector, positioning leading firms for resilience amid ongoing global trade uncertainty. While the path of tariff negotiations is likely to remain uneven – with the possibility of renewed escalation – we maintain the view that China remains well-positioned to outperform. Against a cautious global backdrop, it stands as a potential dark horse in the 2025 investment landscape. The writer is a research analyst with the research and portfolio management team of the B2C division of iFast Financial, the Singapore subsidiary of iFast Corp.
Yahoo
4 days ago
- Business
- Yahoo
5 Momentum Picks to Tap Market Rally in June After an Impressive May
Wall Street saw an impressive rally in May after severe volatility in the previous two months. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — were up 3.9%, 6.2% and 9.6%, respectively. The tech-heavy Nasdaq Composite and the broad-market index, the S&P 500, recorded their best months since November 2023. May's investor optimism was primarily driven by expectations of a U.S.-China trade deal, the delay by the Trump administration to impose 50% tariffs on the European Union and the ongoing negotiations related to tariff and trade policies with several other major trading partners of the United Conference Board's consumer confidence index rebounded in May. Similarly, the University of Michigan's consumer sentiment index came in better than expected last month. At this stage, it will be prudent to invest in stocks with a favorable Zacks Rank that have momentum in June. Five such stocks are: CyberArk Software Ltd. CYBR, Kinross Gold Corp. KGC, NatWest Group plc NWG, Ryanair Holdings plc RYAAY and Paylocity Holding Corp. PCTY. Each of the stocks sports a Zacks Rank #1 (Strong Buy) at present and has a Zacks Momentum Score of A. You can see the complete list of today's Zacks #1 Rank stocks here. The chart below shows the price performance of our five picks in the past month. Image Source: Zacks Investment Research CyberArk Software is benefiting from the rising demand for cybersecurity and privileged access security solutions due to the long list of data breaches and increasing digital transformation strategies. A strong presence across verticals, such as banking, healthcare, government and utilities, is safeguarding CYBR from the adverse effects of softening IT spending. CYBR's strategic mix shift toward software-as-a-service and subscription-based solutions is driving top-line growth. CyberArk is gaining customer accounts, which contributes to its revenues. The vast customer base presents the company with an opportunity to upsell products within its installed user base. Furthermore, in the last few quarters, CYBR has been able to close a significant number of seven-figure deals. The growing number of large deals in the revenue mix is helpful as it increases deferred revenues and visibility. Moreover, any product refresh brings in additional dollars as every enterprise attempts to keep its threat management infrastructure updated. These factors in turn support CYBR's top line. CyberArk Software has an expected revenue and earnings growth rate of 31.9% and 25.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.6% in the last 30 days. Kinross Gold has a strong production profile and boasts a promising pipeline of exploration and development projects. These projects are expected to boost production and cash flow and deliver significant value. KGC is focusing on organic growth through its Tasiast mine, where the Phase One expansion boosted production capacity, and the Tasiast 24K expansion increased throughput and production. KGC's Manh Choh project at Fort Knox is expected to extend operations and benefit from higher gold prices. The Great Bear project in Ontario also offers a promising long-term opportunity with substantial gold resources. Higher gold prices should also boost KGC's profitability and drive cash flow generation. Kinross Gold has an expected revenue and earnings growth rate of 15.3% and 63.2%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.8% over the last seven days. NatWest Group provides banking and financial products and services to personal, commercial, corporate and institutional customers in the United Kingdom and internationally. NWG operates through the Retail Banking, Private Banking, and Commercial & Institutional segments. NWG provides personal and business banking, consumer loans, asset and invoice finances, commercial and residential mortgages, credit cards and financial planning services, as well as life, personal and income protection insurance. NatWest Group has an expected revenue and earnings growth rate of 20.1% and 17.3%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.8% over the last 30 days. Ryanair Holdings provides scheduled-passenger airline services in Ireland, the United Kingdom, Spain, Italy, and internationally. RYAAY's measures to expand its fleet, to cater to rising travel demand, look encouraging. RYAAY's top line continues to benefit from the resurgent travel scenario. The carrier flew more than 200 million passengers in its fiscal year ending March 2025, becoming the first European carrier to do so in a year. RYAAY's measures to expand its fleet, to cater to the rising travel demand, look encouraging. RYAAY is also involved in the provision of various ancillary services, such as non-flight scheduled and Internet-related services, as well as in-flight sale of beverages, food, duty-free, and merchandise, and markets car hire, travel insurance, and accommodation services through its website and mobile app. Ryanair Holdings has an expected revenue and earnings growth rate of 10.4% and 30.5%, respectively, for the current year (ending March 2025). The Zacks Consensus Estimate for current-year earnings has improved 2% over the last 30 days. Paylocity Holding's third-quarter fiscal 2025 revenues benefited from an innovative product portfolio. PCTY's growth is driven by its comprehensive suite of cloud-based Human Capital Management and payroll software solutions tailored for mid-sized businesses. Solid investment in research and development has led to strong product differentiation, enhancing PCTY's competitive position in the market. PCTY's recurring revenue model, which provides financial stability and predictability, is driven by high client satisfaction and low churn rates, reflecting its commitment to delivering value to its customers. For fiscal 2025, PCTY projects total revenues between $1.58 billion and $1.585 billion, implying 13% growth from the year-ago quarter's actual. Paylocity Holding has an expected revenue and earnings growth rate of 12.9% and 6.7%, respectively, for the current year (ending June 2025). The Zacks Consensus Estimate for current-year earnings has improved 5.4% over the last 30 days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report CyberArk Software Ltd. (CYBR) : Free Stock Analysis Report Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report NatWest Group plc (NWG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Borneo Post
30-05-2025
- Business
- Borneo Post
Esteel's RM31 bln project major economic milestone for Sabah - Hajiji
Prime Minister Datuk Seri Anwar Ibrahim and Chief Minister Datuk Seri Panglima Hajiji Noor with the Esteel top guns KOTA KINABALU (May 30): The RM31 billion three-phase project by Esteel Enterprise Sabah Sdn Bhd at the Sipitang Oil and Gas Industrial Park (SOGIP) represents a significant milestone for Sabah as the state seeks to explore new horizons and realise its full potential. Chief Minister Datuk Seri Hajiji Noor said that the project will create jobs and improve the livelihoods of people in Sipitang and the entire state. 'I want all industry players to invest in the training and development of our local workforce and to comply with this fundamental requirement as a core principle of our commitment to local development,' he said. Hajiji made these remarks during the launch of Esteel's RM6.4 billion Phase One project at the Sabah International Convention Centre (SICC), here on Friday. Prime Minister Datuk Seri Anwar Ibrahim officiated the launch. The chief minister emphasised the importance of prioritising Sabahans to ensure the local workforce possesses the necessary skills and knowledge to meet industry demands. Hajiji reaffirmed that Sabah will maintain its investor-friendly stance, noting that the state has implemented policies to attract more investors. 'We are committed to creating a conducive environment that nurtures investments and fosters collaboration,' he said, adding that besides SOGIP, the Kota Kinabalu Industrial Park has seen increased tenancy over the past four years. Due to high investor demand, Hajiji said the state government has approved three new industrial parks in Kota Belud, Beaufort, and Kudat for the Blue Economy Industrial Park. 'We understand the importance of creating a stable, transparent, and supportive environment for investments to flourish,' Hajiji noted. —Bernama
Yahoo
22-05-2025
- Business
- Yahoo
Greater Houston Resiliency Initiative Phase Two Update: CenterPoint Energy completes 100% of all critical resiliency actions early and ahead of 2025 hurricane season
Over last 10 months, during Phase One and Two, CenterPoint has installed more than 26,000 stronger, more storm-resilient poles; undergrounded 400 miles of power lines; added 5,150 automation devices; cleared more than 6,000 miles of higher-risk vegetation; and installed 100 weather monitoring stations around the Greater Houston area Actions will improve reliability for customers and reduce outages by more than 125 million minutes annually Company to announce the remainder of GHRI 2025 targets in early June HOUSTON, May 22, 2025 /PRNewswire/ -- Today, as part of the second phase of the Greater Houston Resiliency Initiative (GHRI), CenterPoint Energy announced that it has completed 100% of all grid resiliency improvements early and ahead of the official start of the 2025 hurricane season. Ahead of the June 1 self-imposed deadline, CenterPoint has completed all of its key actions of GHRI Phase Two including installing more than 25,000 stronger, storm-resilient poles; undergrounding more than 400 miles of power lines; adding 4,850 more automated devices capable of self-healing; clearing an additional 4,000 miles of higher-risk vegetation; and, for the first time ever, installing 100+ advanced weather monitoring stations across the Greater Houston area. Overall, these resiliency actions are expected to reduce outages for customers by more than 125 million minutes annually. "The early completion of Phase Two of our Greater Houston Resiliency Initiative is a testament to the hard work, dedication and collaboration of our teams and partners. Finishing this vital work ahead of the 2025 hurricane season underscores our unwavering commitment to enhancing the resiliency and reliability of our energy infrastructure for the customers and communities we're privileged to serve. This is just one more step on our journey to build and operate the most resilient coastal grid in the nation," said CenterPoint Energy President and CEO Jason Wells. "We are proud of all of the major milestones our teams diligently delivered over the last 10 months as part of GHRI Phase One and Phase Two," said Darin Carroll, Senior Vice President of CenterPoint Energy's Electric Business. "I want to underscore that we aren't stopping. There is more work to come throughout the summer and the rest of the year. We understand the critical role we play in powering lives and businesses every single day, and this proactive suite of actions strengthens our ability to deliver for Houston and the Gulf Coast when they need us most." In early June, CenterPoint will announce an updated approach for GHRI for the remainder of 2025 and beyond. Combined Statistics: CenterPoint GHRI Phase One and Phase Two resiliency actions Since launching GHRI in response to Hurricane Beryl last summer, CenterPoint has made progress on the historic series of critical resiliency improvements across both Phase One and Phase Two. When combined, the company has completed the following actions: Installed or replaced more than 26,000 stronger, more storm-resilient poles built to withstand extreme winds; Undergrounded more than 400 miles of power lines to improve overall resiliency; Installed more than 5,150 more automated reliability devices and intelligent grid switching devices to reduce the impact of outages and improve restoration times; Cleared more than 6,000 miles of higher-risk vegetation near power lines to reduce storm-related outages; and Installed 100 weather monitoring stations to improve situational awareness and storm preparation. For more information on CenterPoint's GHRI actions and improvements ahead of hurricane season, visit About CenterPoint Energy, Energy, Inc. (NYSE: CNP) is a multi-state electric and natural gas delivery company serving approximately 7 million metered customers across Indiana, Minnesota, Ohio, and Texas. The company is headquartered in Houston and is the only Texas-domiciled investor-owned utility. As of March 31, 2025, the company had approximately $44 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been serving customers for more than 150 years. For more information, visit Forward-looking statementsThis news release, as well as the website pages related to the GHRI, includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release or the website pages related to the GHRI, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the GHRI and longer-term resiliency plans, including effectiveness, timing and related matters, are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release or the website pages related to the GHRI regarding future events that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release or the website pages related to the GHRI speaks only as of the date of this release or the date that such statement is made, as applicable. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) business strategies and strategic initiatives, restructurings, joint ventures, acquisitions or dispositions of assets or businesses involving CenterPoint Energy or its industry; (2) CenterPoint Energy's ability to fund and invest planned capital, and the timely recovery of its investments; (3) financial market and general economic conditions; (4) the timing and impact of future regulatory, legislative and political actions or developments; and (5) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and CenterPoint's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission. 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