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Market Chatter: Consolidated Edison Needs Grid Enhancement for Strong Heat Waves, CEO Says

US utility Consolidated Edison (ED) needs to upsize its grid equipment instead of executing a fundamental overhaul to endure longer and hotter heat waves, Chief Executive Tim Cawley told Reuters during a forum on Tuesday.Cawley reportedly said that grid efficiency can be improved at a lower cost by using rooftop solar, batteries, demand response, and grid data. He also supported build-out of large-scale renewable projects, according to the report.Consolidated Edison expects data center demand to increase by around 60 megawatts, much lower than the general expectations by other utilities, with load growth primarily driven by transport electrification and heating, the report said.has reached out to the company to seek further details about its expected demand growth in New York, where it mainly provides utility services.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$ED

Research39d ago

Mizuho Downgrades Apogee Therapeutics to Neutral From Outperform, Lifts Price Target to $135 From $110 Amid AbbVie Deal

Apogee Therapeutics (APGE) has an average rating of overweight and mean price target of $132.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$APGE

Treasury39d ago

Growth, Trade Risks, Labor Slack to Keep Bank of Canada on Hold Through 2026, Nomura Says

The Bank of Canada is expected to look through May's energy-driven inflation, with economic growth and trade risks unlikely to push the central bank to change its policy stance this year, said Nomura.At the June policy meeting, the BoC saw the inflation picture as stable, with improving growth and limited spillovers from higher energy costs, Nomura wrote in a note following Monday's consumer price index data."The May CPI details are consistent with that assessment," Ruchir Sharma and David Seif wrote.Nomura forecasts the BoC to maintain its policy rate at 2.25% through 2026, given continued downside growth risks, especially linked to this year's U.S.-Mexico-Canada trade deal renegotiations, and lingering slack in the labor market.

$CXY

Asia39d ago

Rohm Board Approves Treasury Share Disposal Under Restricted Stock Compensation Plan

Rohm's (TYO:6963) board approved the disposal of 12,998 treasury shares totaling up to 70.8 million yen under its restricted stock compensation plan.The shares were allocated to three directors, excluding audit and supervisory committee member directors and outside directors, and four delegated executive officers, according to a Wednesday filing on the Tokyo Stock Exchange.The disposal will be completed July 22.

TYO:6963

Mining & Metals39d ago

Li-FT Power Secures Option to Acquire Renard Mine Assets in Quebec

Li-FT Power (LIFT.V) has entered into a binding call option agreement for the option to acquire the Renard diamond mine, processing facility and associated infrastructure.The option agreement grants the company an exclusive call option to acquire the assets or all issued shares of Stornoway Diamonds (Canada), which owns Renard, or 11272420 Canada, which owns Stornoway, the company said Wednesday.The Renard process plant has a design capacity of 2.2 million tonnes per annum. Renard also holds mineral processing and operating permits that may help with Li-FT's pathway to lithium production in Quebec. Over C$900 million of capital has been invested in Renard.Li-FT will have two years from the date of execution of the option agreement to exercise the option for C$1. If requested by LIFT, the parties agree to negotiate an extension of the option period for 12 months.

$LIFT.V

Asia39d ago

Lan Fa Textile Buys TSMC Stake Worth NT$346.5 Million

Lan Fa Textile (TPE:1459) acquired 150,000 shares of Taiwan Semiconductor Manufacturing, TSMC (TPE:2330) for a total of NT$346.5 million.The shares were purchased at an average price of NT$2,310 each, between May 22 and June 24, according to a filing on Wednesday.Following the transaction, Lan Fa Textile's holdings in TSMC increased to 350,000 shares valued at NT$836.5 million.The acquisition was made for investment and treasury management purposes, the company said.

TPE:1459

Equities39d ago

OGDCL Recovers PKR92 Billion in Interest Payments Under Pakistan's Circular Debt Plan

Oil and Gas Development Co Ltd (OGDC.L), d/b/a OGDCL, received the final 12th interest payment of 7.73 billion Pakistani rupees from Power Holding under the Pakistan government's circular debt settlement plan.As such, the London-listed Pakistani oil and gas company received a total interest payment of 92 billion rupees from the state-owned power company, according to a Wednesday filing.

$OGDC.L

Asia39d ago

Acer American Grants NT$2.82 Billion Loan to Subsidiary

Acer (TPE:2353) unit Acer American Holdings extended an NT$2.82 billion loan to its subsidiary, Acer America.The loan carries an interest rate of 3.85%, is unsecured, and is due for repayment within 12 months by May 20, 2027, according to a Wednesday Taiwan Exchange filing.The funds will be used to support Acer America's business operations.

TPE:2353

Asia39d ago

SK Hynix Targets KRW45.5 Trillion in US Nasdaq Listing of ADRs

SK Hynix (KRX:000660) plans to raise 45.5 trillion won via the issuance of 17.8 million new common shares as American depositary shares to list on the US Nasdaq.The South Korean chipmaker said in a Wednesday filing with the Korea Exchange that proceeds will be used for expansion efforts.Share certificates are scheduled to be delivered July 15, with the new shares expected to trade from July 29. The newly issued shares have a record date of Jan. 1 for dividends.Shares of SK Hynix were up nearly 1% at market close.

KRX:000660

Asia39d ago

The Chiba Bank Wraps Up Share Buyback Program

The Chiba Bank (TYO:8331) completed its buyback program after it acquired 1.32 million of its own shares for 3.19 billion yen on the Tokyo Stock Exchange.The June 1-23 tranche is part of a larger buyback program authorized by the board on March 25, according to a Tokyo bourse filing on Wednesday. In total, the company bought back 15 billion yen in shares during the period.

TYO:8331

Sectors39d ago

Commerzbank Says Oil Declines With Middle East Output Closer to Pre-War Level

Brent crude fell below US$77 a barrel as geopolitical risk premiums continued to unwind and key Middle East countries got closer to pre-Iran war production, according to a note from Commerzbank.Oil export flows from the United Arab Emirates have recovered to 85% of pre-conflict levels, according to the International Energy Agency, while Qatar's prime minister said he expects liquefied natural gas production to normalize "within a few weeks," Commerzbank said.Meanwhile, President Donald Trump said there is "no rush" to deploy International Atomic Energy Agency inspectors to Iran. The Senate backed ending U.S. engagement in the Iran war, while Trump directed the Department of Justice to investigate the slow adjustment of gasoline prices.U.S. Treasuries weakened into the New York close but found support in Asian trading, said the bank.In Asia, Japanese government bond yields rose, led by the long end of the curve, added Commerzbank. Last week's Bank of Japan minutes signaled growing support for further interest-rate increases, with one board member estimating the neutral rate at roughly 2%.European Central Bank Governing Council member Boris Vujcic estimates eurozone inflation will remain elevated for longer, although long-term expectations remain anchored, said Commerzbank.The European Union announced a bond issuance target of 80 billion euros for the second half of the year, to be funded via four syndicated deals and six auctions.

$CXY

Asia39d ago

Yuanta Financial to Inject Up to NT$6.12 Billion in Unit

Yuanta Financial (TPE:2885) plans to invest up to NT$6.12 billion into subsidiary, Yuanta Futures, through a share subscription.The financial group expects to subscribe for between 41.6 million and 71.9 million shares at a tentative price of NT$65 to NT$85 apiece, according to a Wednesday Taiwan Exchange filing.The capital injection will strengthen Yuanta Futures' operating capital, improve its financial structure, and boost its adjusted net capital ratio, the company said.

TPE:2885

Asia39d ago

SoftBank Group Approves Issuance of Stock Acquisition Rights

SoftBank Group (TYO:9984) board approved the issuance of stock acquisition rights, or stock options, to corporate officers, employees, and directors and officers of a subsidiary, according to a Wednesday filing on the Tokyo Stock Exchange.The Japan-based investor said that each stock acquisition right will entitle the holder to acquire 100 common shares, with the total number of shares available upon exercise initially capped at 375,400.The stock options carry an exercise price of 1 yen per share.

TYO:9984

Asia39d ago

The Shimizu Bank Approves 22 Million Yen Treasury Stock Disposal

The Shimizu Bank (TYO:8364) approved the disposal of 9,108 treasury shares totaling around 22 million yen as part of its stock-based remuneration plan.The shares will be allotted at 2,415 yen each to eight directors, according to a company filing on Wednesday.

TYO:8364

Asia39d ago

Japan Metropolitan Fund Investment Fund Acquires Osaka Private Lodging Asset for 2.4 Billion Yen

Japan Metropolitan Fund Investment (TYO:8953) has agreed to acquire a mixed-use private lodging and retail property in Osaka, for 2.4 billion yen effective June 29, according to a Tokyo bourse filing on Wednesday.The property, Apartment Hotel 11 Shinsaibashi Amemura 2, is appraised at 2.75 billion yen, and will be operated by lodging tech company HIWIN under a revenue-linked lease structure.To fund the acquisition, the REIT secured a 2.4 billion yen 7-year floating-rate loan from SBI Shinsei Bank at TIBOR plus 0.175%, according to a separate disclosure.The REIT also refinanced a 1.5 billion yen loan from Mizuho Bank with the same terms, extending its maturity from June 2026 to June 2033.

TYO:8953

Mining & Metals39d ago

Africa Energy Launches Up to US$4.5 Million Private Placement to Fund South Africa Offshore Development

Africa Energy (AFE.V) plans to launch a non-brokered private placement of common shares for gross proceeds of up to US$4.5 million.The common shares will be priced at C$0.135 apiece, the South Africa-focused Canadian oil and gas exploration company said Tuesday.Company insiders are expected to subscribe for more than 25% of the offering. Net proceeds will be used for general working capital purposes and to advance the development of Africa Energy's interest in Block 11B/12B offshore South Africa.

$AFE.V

Asia39d ago

Nidec's Taiwanese Subsidiary Hit by Ransomware Attack, Investigation Underway

Nidec (TYO:6594) Taiwanese subsidiary, Nidec Chaun Choung Technology, was compromised by a ransomware attack on June 22, prompting emergency measures, including server and network shutdowns, to contain the damage.The company is working with external specialists and authorities to investigate the cause and extent of the breach, though no personal or confidential information has been confirmed leaked so far, according to a Tokyo bourse filing on Wednesday.The affected subsidiary operates an independent network, so the incident does not impact Nidec or other group companies.

TYO:6594

Asia39d ago

Market Chatter: Lutnick Warns of Robotic Arms Race, Vows Action on Chinese Imports

Citing national security fears over Chinese dominance, U.S. Commerce Secretary Howard Lutnick said his department is probing state-subsidized robotics imports, with strong action likely post-review., Politico reported Tuesday.Sources said Lutnick warned executives that "robotic arms are coming" and the U.S. wants to avoid an attack from state subsidized robotics, according to the report. He also stressed the need for American-made production.The Commerce Department did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE

Asia39d ago

Industrial & Infrastructure Fund Investment Secures 4 Billion Yen Refinancing

Industrial & Infrastructure Fund Investment (TYO:3249) has executed a 4 billion yen refinancing package with four lenders to make a partial early repayment of an existing loan due Nov. 30.The new loans comprise a 1 billion six-year facility at TIBOR plus 0.195% from The Bank of Fukuoka, with a repayment date of June 30, 2032, according to a Tokyo bourse filing on Wednesday.The remaining two loans- 2 billion yen from The Chiba Bank and 1 billion yen from The Fukui Bank - each carry 9-year tenors at TIBOR plus 0.255% and are due on June 29, 2035.

TYO:3249

Oil & Energy39d ago

Global Gas Flaring Surges for Third Year: World Bank Report

A World Bank report showed global gas flaring rose for a third straight year to 167 billion cubic meters in 2025.This increase wasted an estimated $54 billion worth of natural gas at a time when many nations face severe energy shortages, according to the Global Gas Flaring Tracker released Tuesday.Gas flaring refers to the burning of natural gas associated with oil extraction.When operators drill for oil, natural gas also flows to the surface. Instead of capturing and selling this gas companies often burn it off as waste due to a lack of pipelines, regulation, or market infrastructure.According to the report ending routine flaring globally requires $70 billion to $100 billion in infrastructure investments. This total cost is less than twice the market value of the gas currently burned away each year.The report further noted nine countries including Russia, Iran, Iraq, and US cause over 80% of all global flaring, even though they account for less than half of global oil production.Many of these same countries import expensive liquefied natural gas while burning off their own domestic supply, the report added.While countries like Kazakhstan have successfully cut flaring through strict policy, it said that progress has stalled globally due to inadequate regulation, low capital investment, and weak government leadership.

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