Category: Business

China’s CATL (300750.SZ) said on Friday it would build a 7.3 billion euro ($7.6 billion) battery plant in Hungary, Europe’s largest so far, as the world’s biggest electric vehicle battery maker gears up to meet growing demand from global automakers. CATL said that construction of the 100 GWh (gigawatt hours) plant in the eastern Hungarian […]

Investors bought $7.1 billion in equities in the week to Wednesday, with U.S. ‘growth’ stocks recording their largest weekly inflow since December 2021 in a sign that fears over soaring inflation are receding. Investors ploughed $11 billion into U.S equity funds in the week to Wednesday, their largest weekly inflow in eight weeks, but European […]

Germany’s cabinet agreed late on Thursday to impose a gas price levy on consumers, aiming to help struggling importers including Uniper (UN01.DE) cope with soaring prices due to reduced Russian supply. The levy aims to share the additional cost of replacing gas from Russia among all users, including households and industrial consumers, with the proceeds […]

The London Metal Exchange’s (LME) global warehousing network is shrinking rapidly. Over the past year the number of registered storage units has slumped from 604 to 472, the lowest in at least a decade, with the collective retreat reflecting the diminishing pool of metal to be stored. Total LME stocks, including so-called shadow inventory stored […]

Electric-vehicle startup Fisker Inc (FSR.N) said on Friday it was exploring options to manufacture in the United States in 2024 and was considering ramping up production of its first vehicle, the Ocean SUV, in the second half of 2023. U.S. manufacturing would make certain vehicle models eligible for a tax credit under the Inflation Reduction […]

Europe is heading into winter with seasonally low levels of diesel in storage tanks, with major implications for the continent’s industries and drivers in the run-up to EU sanctions on Russian crude oil and refined product supplies. Diesel, along with other distillate fuels such as heating oil and gasoil, are the lifeblood of industry with […]

U.S. regulators raised doubts about Cheniere Energy’s decision to install higher-polluting gas-fired turbines at its Gulf Coast liquefied natural gas terminals in Texas and Louisiana years before they began operating. The documents show that Cheniere (LNG.A), the top U.S. LNG exporter, may have had a chance to avoid its current struggle with looming federal limits […]