News That Matters

Tag: markets

Asian markets have renewable energy edge

Asian markets have renewable energy edge

Business
May 8 (UPI) -- Though more workers globally are on the payroll in the renewable energy sector, the industry is concentrated in Asia, an annual report found.The International Renewable Energy Agency estimates that 60 percent of all renewable energy jobs are in the Asian economies. For the solar panel industry, China has about 60 percent of the payrolls, representing about 2.2 million employees. China also accounts for 44 percent of the payrolls in the wind energy industry.Beijing and the city of Zhangjiakou are co-hosts for the 2022 Winter Olympic Games and a partnership with IRENA outlined a low-carbon road map that sees it draw 50 percent of its energy from renewable resources by 2020.Air quality concerns were raised for the 2008 Summer Games in Beijing, where air quality has at times bee...
Oil, gas markets close week mixed amid optimism on U.S. production

Oil, gas markets close week mixed amid optimism on U.S. production

Business
March 30 (UPI) -- After an up-and-then-down week, oil and gas markets closed slightly higher Thursday ahead of the Easter holiday weekend.All major U.S. and European stock exchanges and markets were closed Friday for Good Friday, which coincides with the Passover holiday that starts Friday at sundown.Growing U.S. inventories pulled prices lower Thursday after hitting $ 70 per barrel earlier this week, but they closed mixed by the end of the day.The price for May Brent crude oil was up .56 cents to $ 64.94 per barrel. West Texas Intermediate, the U.S. benchmark for the price of oil, was unchanged to $ 69.53 per barrel. The May contract expired Thursday.On Thursday, Baker Hughes reported the number of land rigs drilling for oil in the United States totaled 797, four less than in the previous...
Markets extend falls as trade war intensifies

Markets extend falls as trade war intensifies

World
Asian markets have fallen sharply overnight amid increasing fears of a damaging trade war between China and the US, the world's largest two economies.Japan's Nikkei closed 4.5% lower while Hong Kong's Hang Seng was down by 2.4%, South Korea's Kospi lost 3.2%, and China's Shanghai Composite dropped 3.4% in value - following steep declines on Wall Street earlier.In London, the FTSE 100 fell 0.9% in early trading, having already lost 1.2% on Thursday to finish below the 7,000-mark for the first time since December 2016 - and move it officially into "correction" territory, more than 10% below its most recent peak.Investors were spooked by Donald Trump's confirmation of tariffs of up to $ 60bn on imports from China.Beijing announced its own plans that could hit up to $ 3bn of US goods including...
Our Big Mac index shows fundamentals now matter more in currency markets

Our Big Mac index shows fundamentals now matter more in currency markets

Finance
IT IS usually considered quaint to predict foreign-exchange movements by reference to whether currencies are dear or cheap. Metrics such as The Economist’s Big Mac index, a lighthearted guide to exchange rates, hint at how far currency values are out of whack. But they are often driven further out of kilter by capital flows, by fear and greed, by the interventions of policymakers, and so on.Since our last look at the index in July, cheap currencies have narrowed the valuation gap against the dollar—almost completely in case of the Canadian dollar (see chart). Fundamentals, such as fair value, seem (at last) to have greater sway in the foreign-exchange market.Upgrade your inboxReceive our Daily Dispatch and Editors' Picks newsletters.The index is based on the idea of purchasing-power parity