Trading Ideas

Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday. The announcement of efforts to generate more revenues by reducing gas flaring comes as Africa’s second largest crude producer faces a fall in output from its mature oil fields. “Over the years, Angola has somewhat neglected to capitalise on the natural resources that it has to offer,” Mineral Resources and Petroleum Minister Diamantino Azevedo said in a brochure released at an African energy conference in Cape …read more […]

European stocks steadied on Wednesday, but sentiment remained fragile as negotiations for a Brexit withdrawal deal seemed all but dead and the U.S.-China trade dispute triggered another round of selling. Washington is also moving ahead with discussions about restrictions on capital flows into China, Bloomberg reported. …read more […]

The bouts of added conflict are denting hopes that Washington and Beijing will find a resolution to their long-running and painful tariffs war. …read more […]

(Bloomberg) — Electricite de France SA said repairs of faulty welds at a nuclear plant under construction in western France will boost the project’s cost by 14% to 12.4 billion euros ($13.6 billion), adding further financial strain to the cash-strapped atomic power giant.The latest budget hike at the Flamanville-3 reactor is yet another blow to the French state-controlled utility, which raised its cost estimate for two similar reactors it’s building in the U.K. just weeks ago. It also fuels doubts about nuclear’s future in France, where the government has been reluctant to approve new projects before Flamanville-3 is online.EDF has …read more […]

(Bloomberg) — PG&E Corp., the California utility giant forced into bankruptcy by two years of devastating wildfires, is carrying out the biggest planned blackout yet to keep power lines from sparking more blazes.PG&E began cutting electricity as part of an orchestrated shutoff that will eventually plunge almost 800,000 customers into darkness across Northern California, including parts of Napa Valley and Oakland. Cutoffs began after midnight local time Wednesday, with the first phase impacting about 513,000 customers, as hot, dry winds were forecast to pick up speed.Altogether, more than 2 million people may be affected, based on city estimates and the …read more […]

Dividend paying stocks like Weichai Power Co., Ltd. (HKG:2338) tend to be popular with investors, and for good reason… …read more […]

Some stocks are best avoided. We don’t wish catastrophic capital loss on anyone. Imagine if you held Efore Oyj… …read more […]

UNICEF, the United Nations’ charity arm for children, has launched a cryptocurrency fund and is accepting donations in bitcoin (BTC) and ether (ETH).The post UNICEF launches crypto fund, accepting donations in bitcoin and ether appeared first on The Block. …read more […]

Dutch online food delivery company Takeaway.com reported an 87% increase in third-quarter orders on Wednesday, driven by organic growth and acquisitions. The company processed 41.6 million orders across its markets in the period, supported by strong sales in Germany where it completed the acquisition of the local arm of the world’s biggest online food delivery firm, Delivery Hero, in April. Most players, excluding Britain’s Just Eat, are yet to produce profits as they spend heavily on marketing and acquisitions. …read more […]

Some Chinese National Basketball Association (NBA) fans have asked for streaming subscription refunds from exclusive service provider Tencent amid a deepening free speech row, a move that could cause the tech giant financial pain. Tencent Holdings renewed its exclusive digital partnership with the NBA in July, securing rights to stream U.S. games in China, a market with an estimated 500 million fans. Tencent halted broadcasting games involving the Rockets over the weekend and later said it would stop broadcasting the entire preseason after NBA commissioner Adam Silver voiced his support for Morey’s “freedom of political expression” on Tuesday. …read more […]

Indian shares were largely unchanged on Wednesday, as global equities took a beating after U.S.-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results. Broader Asian peers fell the most in a week as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. The negotiations, which have been the global markets’ most important catalyst for months, have weighed on investor sentiment. …read more […]

(Bloomberg) — Activision Blizzard Inc. is facing a fierce backlash and calls for a boycott after a unit of the American game company punished a player for supporting Hong Kong’s protest movement, the latest cultural clash between the U.S. and China.Blizzard Entertainment banned Ng Wai Chung, known as Blitzchung, from its Grandmasters esports competition for a year and withheld prize money he had already won after he used a slogan from Hong Kong’s pro-democracy movement. Players and fans around the world immediately responded with outrage over what they view as heavy-handed punishment and kowtowing to Chinese censorship.“I will never play …read more […]

Thailand’s central bank saw a need to preserve monetary policy space to address possible future risks, when it kept its benchmark rate on hold last month, meeting minutes showed on Wednesday. The Bank of Thailand (BOT) remains worried about the impact of the strength of the baht on Southeast Asia’s second-largest economy and will consider implementing additional measures as needed, according to minutes of its Sept. 25. The baht is Asia’s best performing currency so far this year, up 7.3% against the U.S. dollar, driven by Thailand’s hefty current account surplus and fund inflows. …read more […]

(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies.Some 910,000 tons of crude, three times as much as in August, was offloaded at Chinese ports after being transferred in the South China Sea, according to ship-tracking data compiled by Bloomberg. It’s unclear where this oil came from, but moving crude from one vessel to another at sea is a common way of disguising …read more […]

(Bloomberg) — It was a once-unthinkable move: purposely shutting off power to millions of people and plunging a major metropolitan area into darkness.And yet, come Wednesday, utility PG&E Corp. plans to shut electricity to 800,000 California homes and businesses — representing roughly 2.4 million people — to prevent wildfires as high winds are forecast to whip through the state. The outages will hit 34 counties, including much of the San Francisco Bay area, triggering a scramble by residents to prepare for what may be days without power.For PG&E, forced into bankruptcy by devastating fires that its equipment has ignited over …read more […]