Toby Neugebauer, chief executive officer of Fermi Inc., before ringing the closing bell during the company’s Oct. 1 IPO. Victor J. Blue/Bloomberg Plenty of billionaires have been created by the artificial intelligence and data center booms—and now, the real estate underneath the data centers is generating ten-figure fortunes, too. At least three new billionaires joined…
The emergence of renewable energy like wind and solar as a viable alternative to oil, gas and other fossil fuels has raised critical questions about which form of power offers the best value today — a debate made all the more urgent by the ravages of climate change. In the U.S., where energy policy has…
A recent discussion paper floated by the Danish presidency of the Council of the EU, seen by POLITICO, explored whether capitals would be open to imposing tariffs on Moscow as part of the bloc’s 19th sanctions package. That idea, according to several diplomats briefed on the talks, won little traction among ministers when it was…
China’s exports to Russia plummeted by 16.4% in August compared to the previous year, according to data from China’s customs agency. The decline, reported by Reuters, is the steepest since February, with exports amounting to $6.34 billion in August, a decrease of 5.8% from July. Similarly, Russian shipments to China dropped 17.8% year-on-year to $7.37…
(Bloomberg) — Asian equities came under pressure after a tech selloff hit Wall Street Friday, with chip shares among the losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.2% with chipmakers pushing the Nikkei-225 index down by 1.8%. Samsung Electronics Co. and SK Hynix Inc….
(Bloomberg) — Contemporary Amperex Technology Co. Ltd. is planning to seek at least $4 billion from its Hong Kong stock offering, people familiar with the matter said, which would make it the world’s biggest listing this year. The eventual proceeds could rise to $5.3 billion if the deal is upsized and the greenshoe exercised, according…
Hong Kong businesses are keenly observing the burgeoning new energy opportunities in the Middle East, as Gulf nations seek to diversify their oil-dependent economies and pave the way for a sustainable future. Cliff Zhang Kun, chairman of Templewater and Bravo Transport, which owns bus operator Citybus, said that the company was in discussions with Qatar…
U.S. oil prices fell sharply, briefly dipping below $60 a barrel on Sunday — their lowest level in almost four years — as the economic fallout from President Trump’s latest round of tariffs reverberated around the world. Crude oil now costs around 15 percent less than it did last Wednesday, just before Mr. Trump revealed…
President Trump’s cabinet has been busy rolling back of regulations that will make it far easier to extract and produce fossil fuels. But who will buy them? Nearly everyone, it turns out, particularly under the threat of tariffs. At an annual energy-industry conference in Houston, executives spoke openly about how companies from around the world…
Before a packed crowd of oil and gas executives on Monday, Chris Wright, the new U.S. energy secretary, delivered a scathing critique of the Biden administration’s energy policies and efforts to fight climate change and promised a “180 degree pivot.” Mr. Wright, a former fracking executive, has emerged as the most forceful promoter of President…