Hydrogen stocks

Representative image Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes. The stakes are high for the July U.S. consumer prices report on Wednesday after an unexpectedly strong U.S. jobs data last week boosted expectations of a sharp interest rate increase to tackle soaring inflation. The broader Euro STOXX 600 fell 0.6%, after logging its best session in nearly two weeks on Monday, with German stocks down 0.7%. Miners and autos, among top gainers a day earlier, led declines on Tuesday. Wall Street futures pointed to slim gains. "The focus is on tomorrow's U.S. inflation numbers and whether or not they are likely to show any indication of a softening of inflationary pressures," said Michael Hewson, chief market analyst at CMC Markets. Close "Are we near the peak, and will tomorrow's CPI numbers reflect that?" … [Read more...] about Stocks stumble as caution reigns ahead of U.S. inflation data

Share to Twitter Share to Linkedin As this energy transition continues to move forward in a somewhat halting fashion, prodded along by energy and climate policy decisions, it is becoming increasingly apparent that displacing a substantial percentage of current fossil fuel usage on a global scale will require a far more diverse set of solutions than just more subsidies for wind and solar. Not that such subsidies are being abandoned, of course: Quite the opposite, in fact. Robert Bryce reported Sunday at Forbes that the Manchin/Schumer cornucopia of climate spending (cynically titled the “Inflation Reduction Act”) passed on a strictly partisan vote by the Senate would direct another $113 billion to just those two rent-seeking industries over the coming decade. Fortunately, the bill also recognizes that subsidies for those two industries alone won’t do the trick. Manchin’s own statement on the huge tax and spending package recognizes that reality, stating … [Read more...] about Hydrogen A Winner As Manchin Forces A Diverse Energy Transition Policy Approach

- A + A MOSCOW (Aug 9): The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stock indexes were mixed as the market lacked momentum. At 0738 GMT, the rouble was 0.6% stronger against the dollar at 60.40, trading in a range between 59 and 62 for the sixth day in a row. Against the euro, the rouble firmed 1.2% to 61.48 , well above the record low of 132.42 it hit days after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. The rouble is the best-performing currency so far this year as it received a boost from the capital controls Russia imposed to shield its economy and the financial system from sweeping western sanctions. However the rouble may gradually weaken in the near term given the lack of news triggers and the fact that the monthly tax payment period that usually boosts demand for the currency will only start later in August, analyst at … [Read more...] about Russian rouble firms towards 60 vs dollar, stocks mixed

Share to Twitter Share to Linkedin The growth trajectory of the largest national entitlement programs — Social Security, Medicare, and Medicaid — has many concerned, understandably so. But state and local unfunded pension liabilities must also be counted among the major challenges to U.S. fiscal health. According to Pew research, unfunded state pension liabilities reached a combined $1.25 trillion in 2019. Other projections that assume more modest investment returns find total unfunded state pension liabilities today in excess of $8 trillion . The trillions of dollars in growing unfunded public pension liabilities, for which taxpayers are ultimately on the hook, is a problem that could soon be exacerbated by a new federal tax in the Inflation Reduction Act (IRA) that will diminish state and local pension plan returns. “We should not increase taxes, and we did not increase taxes,” Senator Joe Manchin (D-W.V.) said about the IRA on NBC’s Meet the … [Read more...] about Stock Buyback Tax Will Harm State & Local Pensions

Meme stocks are back, BBBY! advertisement advertisement The traders on internet message boards like Reddit’s WallStreetBets are back at it again, as shares of Bed Bath & Beyond have surged almost 100% since last Friday. Shares of AMC Entertainment and even GameStop have seen significant movement too in recent days. But Bed Bath & Beyond has, by far, been the most-mentioned stock on WallStreet Bets over the past 24 hours, according to data from Quiver Quantitative. However, there was another company whose stock was among the most mentioned, and it’s probably one you’ve never heard of: Magic Empire Global (ticker MEGL), a Hong Kong-based finance company that went public on Friday. Magic Empire Global’s shares saw their value skyrocket—from $4 per share to nearly $236 per share, an increase of almost 5,800%. On Monday, the stock ended its magical ride, to a degree, and as of roughly 1 p.m. ET, it was trading at less than $110 per share. … [Read more...] about Magic Empire Global IPO: Wild meme stock frenzy or something else entirely?

This story is part of Fast Company’s Most Creative People in Business 2022 . Explore the full list of innovators who broke through this year—and had an impact on the world around us. advertisement advertisement Picture the coolest, most ridiculously awesome room you can imagine. Maybe it’s got a golf simulator and a billiards table, or radiant-heat floors, or polychromatic India Mahdavi furniture, or meticulously cultivated hygge. Whatever it is, whatever you’re envisioning, it would be even better if it had a secret door leading to another room. And of course, a secret door has to reveal itself in some sick way, like how you run through a wall to get to track 9 3⁄4, or wade through a coat closet to get to Narnia, or turn a bronze eagle on a bookshelf, or push the correct button on a soda machine. It can’t just be a switch labeled secret door, though that’d be kind of funny. That kind of meta humor would be very on-brand for Mark Rober, except … [Read more...] about How Mark Rober became the Willy Wonka of engineering

- A + A (Aug 9): China’s top auditor is conducting a review of the US$3 trillion trust industry, paving the way for a potential overhaul of a key shadow banking sector where losses on property loans are mounting. In an unscheduled move, the National Audit Office — which previously led an examination of bank exposures to Jack Ma’s Ant Group Co — has for the past month been inspecting the books of at least 20 trust firms, including the top five, to gauge the risks they pose to financial stability, according to people familiar with the matter. The firms are being asked to report on their risky loans to developers and any plans to dispose of them, the people said, asking not to be named as they’re not authorised to speak publicly. The audit office is expected to submit its conclusions to policy makers in Beijing, who may decide on the future reforms of the sector, the people said. While it is unclear what regulatory action the scrutiny will spur, the move illustrates … [Read more...] about China orders surprise audit of US$3 trillion trust industry

Indonesia coal benchmark price COAL-HBA-ID has stayed above US$70 per tonne level since January 2021 but surged to a record US$321.59 per tonne this month, as the war in Ukraine exacerbated the energy supply crunch. - A + A JAKARTA (Aug 9): Indonesian legislators on Tuesday pressed the government to tighten rules on domestic coal sales, amid concern that miners will choose to pay fines instead of meeting a requirement to sell a quarter of their output to local power generators. The parliamentary energy committee met during recess on Tuesday, fearing the world's biggest thermal coal exporter was headed for a repeat of a domestic supply crisis late last year that saw exports banned for a few weeks in January, triggering panic among foreign buyers. Indonesia imposes a so-called Domestic Market Obligation (DMO) where miners must sell 25% of their output onshore, at prices capped at US$70 per tonne for power generators and US$90 per tonne for local industry. Though … [Read more...] about Indonesia lawmakers call for tougher rules to avert another coal crisis

- A + A KUALA LUMPUR (Aug 9): Perbadanan Nasional Bhd (Pernas), who is suing Serba Dinamik Holdings Bhd's managing director Datuk Dr Mohd Abdul Karim Abdullah and two former senior executives of the oil and gas services outfit's subsidiaries to claim the return of RM46.49 million over a share investment that went bad, has applied for a summary judgement against the trio. It filed the application on Aug 1 through Messrs Azmi & Associates, claiming that the defendants' defence has no merit, and that there are no longer triable issues to be decided by the court. Pernas, a Minister of Finance Inc (MOF Inc)-owned company with the mandate to lead the development of Malaysia's franchise industry, initiated the lawsuit in May. The two other defendants named in the lawsuit are Rosland Othman and Rosli Hamat. Rosland was previously senior vice president (special project) under Serba Dinamik Group Bhd (SDGB), while Rosli was senior VP (investment) of Serba Dinamik … [Read more...] about MOF Inc-owned Pernas seeks summary judgement in RM46 mil lawsuit against Serba Dinamik MD, two former execs

Julian Zelizer, a CNN political analyst, is a professor of history and public affairs at Princeton University. He is the author and editor of 24 books, including, " The Presidency of Donald J. Trump: A First Historical Assessment ." Follow him on Twitter @julianzelizer . The views expressed in this commentary are his own. View more opinion on CNN. (CNN) President Joe Biden delivered a bold speech on Thursday night , calling for a ban on assault weapons and other gun policies, including strengthening background checks and enacting new "red flag" laws. "Enough, enough," he told the nation, urging Congress to take action after a slew of mass shootings rocked the country. "We can't fail the American people again." The speech comes at a difficult moment for Biden. The administration is facing multiple escalating crises, which are slowly undermining his leadership and political strength. There's the Russian war in Ukraine, inflation and stock market turbulence, mass … [Read more...] about Opinion: How Biden can avoid Carter’s one-term presidential fate