Business

Stock market tumble draws bargain hunters

Some traders took advantage of Tuesday’s massive selloff in the U.S. stock market to go bottom fishing in stocks and options in hopes of picking up cheap upside bets on a quick market rebound. With S&P 500 dropping 4.3% on Tuesday, the Cboe Volatility Index (.VIX) – the so-called Wall Street “fear gauge” – jumped […]

Business

How UN plan for Russian ammonia export could help global fertiliser market

A United Nations proposal that Russia resume exporting ammonia via Ukraine has raised hopes that a global shortage of fertilizer could be eased, and in turn alleviate world food shortages exacerbated by the conflict in Ukraine. THE PIPELINEThe United Nations proposed that ammonia gas owned by Russian fertiliser producer Uralchem be pumped by pipeline to […]

Business

The U.S. oil executive making a big bet on combating climate change

The chief executive of a small U.S. oil company has jumped to the forefront of the energy industry’s greenhouse gas reduction efforts, recruiting high-profile firms to his vision of striking it big by selling access to carbon storage developments. Tim Duncan, the founder of Talos Energy Inc (TALO.N), a decade-old offshore oil firm with fewer […]

Business

Germany edges closer to nationalisation of ailing gas importer Uniper

Germany’s Uniper (UN01.DE) said on Wednesday the government might take a controlling stake in the company as the ailing gas importer seeks further aid, paving the way for a what could result in a full nationalisation of the firm. Uniper, Germany’s largest importer of Russian gas, burned through its cash reserves sourcing gas on the […]

Business

EU proposes windfall levies on energy firms to ease price pain

The European Union’s executive plans to raise more than 140 billion euros ($140 billion) to shield consumers from soaring energy prices by skimming off revenues from low-cost electricity generators and making fossil fuel firms share windfall profits. The European Commission published the proposals on Wednesday as the 27-member European Union grapples with an energy crisis […]

Business

Highlights from the U.S. SEC’s Treasury market reform proposal

The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed draft rules to boost the resilience of the $24 trillion Treasury market, the world’s largest bond market, which serves as a benchmark for dollar assets globally. Here are the highlights of the proposal: CLEARING HOUSE FOCUSInstead of mandating broadly that all Treasury transactions be cleared, […]

Business

U.S. banks’ key performance metric set to turn around in second half

Wall Street banks look set to report better efficiency ratios in the second half of the year, a key metric that deteriorated as global economic gloom sapped income from traditional profit centers and costs surged amid a battle for talent, analysts say. A closely-watched measure of performance, the efficiency ratio is calculated by dividing a […]