Category: finance
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Shell and Ferrari Sign Long-Term Renewable Energy Deal Through 2034
Shell PLC has entered into a long-term agreement to supply renewable energy to Ferrari NV until the end of 2034, the companies announced on Tuesday. The deal is a significant step in Ferrari’s strategy to reduce its carbon footprint and transition toward more sustainable manufacturing practices. Details of the Green Power Agreement Under the power
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China’s Coal Plant Permits Set for Four-Year Low in 2025 Amid Renewable Energy Growth
China is on track to issue the lowest number of new coal plant permits in four years in 2025, according to a recent analysis by Greenpeace. The trend reflects the country’s growing reliance on renewable energy and declining demand for new coal-fired power capacity. Sharp Decline in New Coal Permits Data from Greenpeace shows that
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Nigeria’s Dangote Partners with Honeywell to Double Refinery Capacity by 2028
Nigeria’s Dangote Group has selected Honeywell International Inc. to support its ambitious plans to expand refining capacity to 1.4 million barrels per day (bpd) by 2028, signaling a major step toward establishing the world’s largest single-train petroleum refinery. The partnership will leverage Honeywell’s advanced catalysts, equipment, and Oleflex technology to process a wider range of
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Moscow and Beijing Explore Expansion of Russian Oil Exports to China
Moscow and Beijing are actively discussing strategies to expand Russian oil exports to China, Russian Deputy Prime Minister Alexander Novak confirmed on Tuesday. The talks highlight Russia’s growing reliance on Asian markets, particularly China and India, following Western sanctions and geopolitical tensions. China and India Drive Russian Oil Demand Since the onset of Russia’s military
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India’s Russian Oil Imports Set to Plunge in December Amid Tightening Western Sanctions
India’s imports of Russian crude oil are expected to fall sharply in December, hitting their lowest levels in at least three years, as refiners adjust operations to comply with increasingly stringent Western sanctions, industry sources report. The decline comes after multi-month highs in November, driven by last-minute stockpiling ahead of new U.S., EU, and U.K.
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Russia’s Car Market Faces Severe Downturn in 2026 Amid Rising Scrappage Fees
Russia’s car market is heading for a challenging 2026, with higher scrappage fees set to push new car prices to record levels, industry experts warn. While October 2025 saw a temporary surge in vehicle purchases, analysts say this was driven by buyers rushing to beat the upcoming price increases, rather than a sign of genuine
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EU Approves $2 Billion German Subsidy for Coal Phase-Out by 2038
Berlin, Germany – November 18, 2025 – The European Commission has officially approved a 1.75 billion euro ($2.03 billion) compensation payment from Germany to power company LEAG to facilitate the country’s exit from coal-fired energy by 2038. The approval marks a major step in Germany’s ambitious plans to achieve climate neutrality by 2045. Germany’s government
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Exxon Mobil Pauses Major Hydrogen Plant Project Amid Weak Customer Demand
Houston, Texas – November 21, 2025 – Exxon Mobil (XOM) has suspended plans to build one of the world’s largest hydrogen production facilities, citing weak customer demand, CEO Darren Woods told Reuters on Friday. The decision reflects broader challenges facing traditional oil and gas companies attempting to transition to clean energy solutions, where many projects
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Nokia Announces $4 Billion AI Investment in the United States
Nokia, the Finnish telecommunications and technology giant, has announced plans to invest $4 billion in the United States to accelerate research, development, and production in artificial intelligence-driven network connectivity. The move comes as Nokia strengthens its North American operations and focuses on cutting-edge AI technologies for telecom infrastructure. Investment Breakdown Nokia stated that $3.5 billion
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Paramount, Comcast, and Netflix Submit Preliminary Bids for Warner Bros Discovery
Warner Bros Discovery (WBD) has received preliminary buyout bids from major media rivals Paramount Skydance, Comcast, and Netflix, signaling the start of a potential blockbuster deal in the entertainment industry. The bids could reshape the future of HBO, Warner Bros’ film library, and the DC Comics universe, as the century-old Hollywood studio considers strategic options
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