Written by Gary
Record Levels Of Lithium Found In Cornwall, England’s westernmost county (SPY -0.3%). New York Empire State factory index tumbles from 43 to 18.3.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Visualizing The Gradual Death Of EU Coal ProductionCoal has been experiencing a gradual death in the EU over the last few decades, at least in terms of production on European soil. New figures from Eurostat show that in 1990, EU production totaled 277.4 million tonnes and as Statista’s Martin Armstrong shows in the infographic below, that has fallen steadily since, with just 56.5 million tonnes in 2020, churned out almost exclusively by Poland. You will find more infographics at Statista Germany is the most notable absence from the 2020 figures, having accounted for 27 percent 30 years ago. While |
| The Black Sea Oil Spill Is Worse Than Originally ThoughtLast weekend, a Greek-flagged oil tanker leaked oil into the Black Sea off the coast of Russia. Initially, officials reported that the spill was much smaller than it actually is, either erroneously or deceitfully claiming that the spill was quickly contained and that it posed no threat at all to either humans or wildlife. In reality, the spill has spread to an area approaching 80 square kilometres in size and has stretched into the open sea. The Minerva Symphony tanker had filled up with oil at the Yuzhno-Ozereyevka sea terminal on the southern |
| Record Levels Of Lithium Found In Unlikely New HotspotThe worlds highest concentration of lithium in geothermal waters has been found in Cornwall as Englands westernmost county cements its burgeoning status as a hub for critical metals. Geothermal Engineering said that it had found concentrations of more than 250mg per litre in waters beneath its United Downs project near Redruth. Based on the findings of these tests, the firm said it could produce 4,000 tonnes of lithium per year by 2026. Thats a considerable chunk of the 59,000 tonnes of metal the Faraday Institution estimates |
| U.S. Utilities Could Face Slew Of Climate LawsuitsSeveral years ago, a major US electric utility, wrote in its 10-K , a document filed annually with federal securities regulators, that it could not currently estimate the financial impact of climate policies or litigation alleging damages, but admitted they could require material capital (FirstEnergy, 2018 10-K. Fast forward to the 2020 document, FirstEnergy said it could not predict timing and ultimate outcome.. of environmental actions. Not much progress.) Was that cautionary |
| The Shale Pioneer Preparing For A ComebackOne of the U.S. shale pioneers, Chesapeake Energy, is back in business six months after emerging from bankruptcy with a major acquisition marking its return to the shale gas basin in Louisiana. Chesapeake Energy was one of the most prominent names in the U.S. shale patch to file for bankruptcy in the middle of last year, although the move had been widely expected. Now the reinvented shale gas pioneer is buying Vine Energy, which develops natural gas properties in the over-pressured stacked Haynesville and Mid-Bossier shale plays in |
| What Will The Gas Station Of The Future Look Like?Two-thirds of Americans are interested in electric cars. Sales of EVs hit a record of more than 300,000 in the first half of the year. Everything seems to be going well for EVs and their makers. And yet, gas station owners are having trouble justifying the costs of installing EV chargers because the economics dont make sense. The Wall Street Journals Jennifer Hiller wrote in a recent article that some gas station owners are adding EV chargers to ensure their future market share in a more EV-dominated future. Many others, however, |
| This husband-and-wife team shares their tips for going into business togetherAs the husband-and-wife team behind clothes rental app Style Theory, Raena Lim and Chris Halim share their advice with other couple co-founders. |
| Airlines reroute planes around Afghanistan after Taliban takeoverUnited, British Airways and Singapore Airlines are avoiding Afghanistan airspace after Taliban fighters took over the country. |
| ‘Free Guy’ tops $28 million at the domestic box office and Ryan Reynolds says Disney is eyeing a sequelDisney’s “Free Guy” tallied more than $28 million at the domestic box office during its opening weekend, smashing expectations. |
| Democratic lawmakers want to expand Medicare. Here are the gaps in coverage and other costs to knowTo the surprise of many new Medicare beneficiaries, the program has some holes and is far from free. |
| New apps match travelers with trips that fit their budgets, interests, rewards points and moreTravel app Elude is built around a “budget-first” search engine that offers users instant options for flights and accommodations within their price range. |
| New York City vaccine mandate presents new challenges for restaurantsNew York City will become the first major U.S. city to require proof of vaccination to eat indoors, starting Monday. |
| McLaren F1 sells for $20.5 million, the most expensive car auctioned this yearA McLaren F1 auctioned at Pebble Beach on Friday night for $20.5 million, showing the continued strength of the classic car market. |
| With Hamilton, Lion King, Wicked ticket sales slow, Broadway isn’t backBroadway hits Hamilton, Wicked and The Lion King will be among the first musicals to open at 100% capacity. None sold out their first week of performances. |
| Epidemiologist agrees with Fauci, says everybody will someday ‘likely’ need a booster shot of the Covid vaccinesEpidemiologist Dr. Anne Rimoin explains when conditions will warrant everyone needing a Covid vaccine booster. |
| ‘Field of Dreams’ baseball game was a ratings win for Fox with 5.9 million viewersThe Chicago White Sox beat the New York Yankees, 9-8, in a Hollywood-like ending in MLB’s Field of Dreams game. |
| Mississippi seeks doctors, nurses and ventilators as Covid patients pack ICU bedsMississippi seeks doctors and nurses and has asked federal officials for ventilators as the state hit a record of more than 5,000 new Covid cases in one day. |
| Minnesota Twins hope to lure fans by selling custom 1991 World Series productsThe Minnesota Twins will leverage the 30th anniversary of the 1991 World Series team by selling a limited amount of customized products in-stadium only. |
| Boeing delays test flight of Starliner crew spacecraft for at least two months after valve problemsBoeing’s second uncrewed flight test of its Starliner spacecraft is delayed for at least two months due to difficulties with propulsion valves. |
| “Utter Desperation” – Body Count Rises As Terrified Afghans Mob Tarmac At Kabul Airport, Cling To Departing Planes“Utter Desperation” – Body Count Rises As Terrified Afghans Mob Tarmac At Kabul Airport, Cling To Departing Planes On Monday, the press reported shocking scenes of thousands of “utterly desperate” Afghan civilians fleeing their homes and mobbing the Kabul international airport tarmac in the wake of the rapid Taliban takeover of Kabul. According to WSJ and other English-language media outlets, at least three people have died Monday during the frenzied struggle to leave. A group of 60 nations has asked the Taliban to allow any refugees who desire to leave the country to do so without inflicting harm on them or their families. American troops are now attempting to secure and provide order at Karzai International Airport as military airlifts of American personnel continue. Shots have been fired as American troops arrive to find the security situation spiraling out of control, potentially making safe airport operations – including flights in and out - next to impossible if it’s not brought under order.
Thousands of Afghans who haven’t received permission to emigrate are fleeing to the airport anyway, believing it may be their only chance for survival amid rumors that flights are now taking whoever ca … |
| Futures Fall On Poor China Econ Data Ahead Of Powell TownhallFutures Fall On Poor China Econ Data Ahead Of Powell Townhall US equity index futures fell and the dollar rose after the latest Chinese data missed expectations and confirmed a sharp slowdown in the 2nd largest economy, while the spread of the coronavirus delta variant sparked worries the global economic rebound is faltering. Investors also awaited a town hall by Federal Reserve chair Jerome Powell on Tuesday for clues on policy following a report from the WSJ that the Fed was weighing ending taper by mid-2022. As of 730am S&P eminis were down 12.50 or 0.28% to 4,450 after hitting an all time high on Friday; Dow Jones futures were down 101 points or 0.28% and Nasdaq futures were 42.75 lower. Commodities declined after Chinese retail sales and industrial output data showed activity slowed. Alibaba slid in premarket trading again after China’s state media criticized the online-game industry.
Energy firms Halliburton, Exxon Mobil, Chevron, Occide … |
| Tesla Shares Sink After NHTSA Announces Formal Investigation Into Autopilot For All Models From 2014 To 2021Tesla Shares Sink After NHTSA Announces Formal Investigation Into Autopilot For All Models From 2014 To 2021 After what has felt like eons of inaction while Teslas all over the country unintendedly accelerate into inanimate objects, it looks like regulators in the United States have finally come to their senses. This morning it was announced that the U.S. had opened a formal investigation into the company’s Autopilot feature, according to Bloomberg.
Tesla shares quickly sunk toward $700, down about 2%, in pre-market trading. Â
The U.S. National Highway Traffic Safety Administration (NHTSA) said it is opening a probe into Tesla’s Model X, S and 3 for model years 2014-2021. The broad range of models and model years means that this could be the broad investigation that skeptics have been requesting for years. The NHTS … |
| Texas Supreme Court Temporarily Blocks Local Mask MandatesTexas Supreme Court Temporarily Blocks Local Mask Mandates Authored by Isabel van brugen via The Epoch Times, The Texas Supreme Court on Sunday granted an emergency stay to Gov. Greg Abbott over his ban on mask mandates.
It overrides lower court rulings that allowed Dallas and Bexar counties to temporarily enable the mask mandate locally, despite the Republican governor’s order that barred government entities and officials from doing so. Abbott said at the time that Texans, not government, should decide their best health practices. Local officials in Dallas and Bexar counties, including San Antonio, meanwhile cited strains on hospitals amid a surge in cases linked to the Delta COVID-19 variant, as justifications for keeping the mask requirements in place. Dallas County Judge Clay Jenkins said requiring face masks would help to curb the transmission of COVID-19, the di … |
| Afghanistan conflict: Airlines reroute flights out of Afghan airspaceVirgin Atlantic made its last journey over the region on Sunday while Emirates has suspended flights. |
| UK defence giant Ultra agrees to £2.6bn Cobham takeoverThe deal to buy the major supplier to the Royal Navy is being monitored by the UK government. |
| Pingdemic: ‘We got close to complete shutdown’Businesses say self-isolation rule changes will have a “massive impact” on reducing staff shortages. |
| India’s economy roars back from second wave as states ease restrictionsNomura India’s Business Resumption Index crossed the 100-level mark for the first since the beginning of the pandemic in India in March 2020 to a record high of 101.2 in the week ending August 15. |
| Jhunjhunwala’s latest stock pick is a play on deleveraging, dividendsPrice targets for the stock suggest analysts are valuing it at 4.55-5.5 times FY22 EV/Ebitda and a P/B of 1.1 compared with a historical average of 0.7 times. They see 25-63 per cent potential upside for the stock from here on. |
| Vodafone Idea Q1 results point to default risk amid weakening cash flows: AnalystsThe Department of Telecommunications (DoT) has sought Rs 58,254 crore from Vi towards AGR dues, of which the telco has paid only Rs 7,854 crore. The telco’s AGR liabilities, including interest, are now at around Rs 62,180 crore, according to the department’s calculations, Vodafone Idea said. |
| Futures Movers: Oil prices sink as China data rings alarm over demandOil futures pull back Monday, under pressure after a round of weak China data underscores the potential damage to demand from the spread of the delta variant of the coronavirus that causes COVID-19. |
| Economic Report: New York Empire State factory index tumbles in August from last month’s record highThe New York Fed’s Empire State business conditions index fell 24.7 points to 18.3 in August, reversing most of surprising gain in July, the regional Fed bank said Monday. |
| Europe Markets: Longest winning run in 14 years set to end as European stocks slipThe longest winning stretch in 14 years looked set to end on Monday as European stocks slipped. |
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