LONDON—A steadier tone in global stocks continued on Thursday as investors hoped the banking sector had turned a corner on its recent turmoil to help markets end the quarter on a positive note. The dollar and crude oil prices were stable, with calmer markets allowing investors to focus more on the economy, as Spanish inflation…
Stocks Firmer as Investors Bet Banking Crisis Is Behind Them
March 30, 2023
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Europe to Ban Sale of New Gasoline Cars From 2035
March 29, 2023
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People residing in member nations of the European Union will no longer be able to buy new cars that run on petrol or diesel, according to a rule adopted by the European Council on Tuesday. “The council today adopted a regulation setting stricter CO2 emission performance standards for new cars and vans,” said the official…
Shares Rise as Bank Support Emboldens Investors
March 29, 2023
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LONDON—Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn’t robust enough to severely knock safe-haven assets like bonds or gold. Meanwhile, shares in Asia rallied on Wednesday after Chinese conglomerate Alibaba’s plans to split into six units lifted tech…
Oil Gains for 3rd Day on Kurdish Supply Concern, Easing Banking Fears
March 29, 2023
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LONDON—Oil rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and as easing fears of a global banking crisis supported risk sentiment in the wider markets. Crude exports of 450,000 barrels per day (bpd) from Iraq’s semi-autonomous northern Kurdistan region were halted on…
Greens Senator Calls Out Climate Group During Emissions Reduction Negotiations
March 29, 2023
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Greens Senator Nick McKim has broken ranks with the climate lobby to call out their behaviour during negotiations over the federal government’s safeguard mechanism. McKim, the Economic Justice and Treasury spokesperson for the Greens said emissions reductions would be significantly less under the mechanism but negotiations were hampered by the climate lobby. “Listening to senior…
Greens Senator Calls Out Climate Group on Emissions Reduction Negotiations
March 29, 2023
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Greens Senator Nick McKim has broken ranks with the climate lobby to call out their behaviour during negotiations over the federal government’s safeguard mechanism. McKim, the Economic Justice and Treasury spokesperson for the Greens said emissions reductions would be significantly less under the mechanism but negotiations were hampered by the climate lobby. “Listening to senior…
House Republicans Challenge Democrats to Support Domestic Energy Package
House Republican leadership touted their Lower Energy Costs Act as a “historic” move toward energy affordability and independence that eco-friendly Democrats would do well to support. “For those that are supporting—whether its Saudi Arabia, or Venezuela, or Iran—producing more oil, they’re actually hurting the environment because nobody has better standards than the United States of…
Oil Extends Gains on Kurdish Supply Risks, Banking Relief
March 28, 2023
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LONDON—Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained. Brent crude futures gained 61 cents, 0.8 percent, to $78.73 a barrel by 1006 GMT. West Texas Intermediate U.S. crude was up 53 cents, or 0.7 percent,…
Stocks Rise After Bank Sale Fuels Investor Risk Appetite
March 28, 2023
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LONDON—Global stocks rose and the dollar eased on Tuesday, after a deal backed by the U.S. regulator for First Citizens BancShares to buy up Silicon Valley Bank soothed some of the recent concern about the health of the banking sector. U.S. banking regulators said on Monday they planned to tell Congress that the overall financial…
Climate Safeguard Mechanism Will ‘Stifle’ Gas Industry, Warned Shadow Foreign Affairs Minister
Australian businesses, and especially the gas industry, will suffer under the climate safeguard mechanism, Shadow Foreign Affairs Minister Simon Birmingham has warned. The safeguard mechanism, which was initiated by the centre-right Coalition but is being overhauled by the centre-left Labor, requires the 215 facilities that annually produce over 100,000 tonnes of greenhouse gases to limit…
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