Aurelia Butler

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  • 163 Shares189 Views

    in Economy

    BP signs deal with mall owner Simon Property for over 900 EV chargers

    SAN FRANCISCO (Reuters) – A unit of BP (NYSE:BP) signed a deal with mall owner Simon Property Group (NYSE:SPG) to install and operate more than 900 high-speed electric-vehicle chargers at 75 sites across the United States, the companies said on Wednesday. The first locations with chargers from BP Pulse will be open to public in early 2026 and support vehicles from nearly all EV makers, the companies said in a joint statement. The deal, one of the largest in EV charging for the global oil giant, comes amid a broader slowdown in demand for EVs as high interest rates meant to control inflation have soured consumer sentiment for battery-powered vehicles, which are typically more expensive than gas-powered counterparts.”We continue to believe that the U.S. will be a substantial EV market,” Sujay Sharma, CEO of BP Pulse Americas, said in an interview with Reuters, but declined to disclose the financial terms of the deal. Sharma said the company was working on more such deals.BP Pulse has more than 39,000 EV charge points globally, the company said, and plans to have 100,000 points by 2030. The oil major has been expanding its footprint through deals with other companies such as Hertz, and also acquired truck fueling provider TravelCenters (NASDAQ:TA) of America last year to expand its retail and charging network. “I think in the short term there may be some demand slowdown,” Sharma said. “(But) we think the consumers are out there. We think the growth is out there long-term. We take that long-term outlook and we invest for that.” Last year, BP Pulse made plans to invest $1 billion in America’s EV infrastructure by the end of the decade.However, the company axed more than 100 jobs, or over 10% of its global workforce, and also pulled its electric vehicle charging business out of several markets, sources told Reuters in April. More

  • 138 Shares189 Views

    in Economy

    US targets Chinese steel exports with tariffs on shipments via Mexico

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 138 Shares179 Views

    in Economy

    Toyota joins group of automakers to help build EV charging network

    The group’s statement did not provide a value or additional details on the investment. Seven large automakers, including Mercedes, GM, Stellantis (NYSE:STLA), Honda (NYSE:HMC), BMW (ETR:BMWG) and Hyundai-Kia formed IONNA as a joint venture last year to develop a fast-charging network that would compete with the Tesla (NASDAQ:TSLA) Supercharger network.Toyota’s investment in the JV will give Toyota and Lexus customers access to the public network of DC fast chargers IONNA will begin deploying later this year. IONNA plans to install at least 30,000 charging ports in North America by 2030. More

  • 63 Shares129 Views

    in Cryptocurrency

    Peter Schiff ‘Can’t Escape’ Bitcoin

    Recently, Schiff visited Istanbul and posted a photo in front of a large Bitcoin advertisement. He shared the image on Twitter with the caption, ‘I’m in Istanbul and look what I came across. There are some things you just can’t escape from.’ The image quickly gathered attention with over 200,000 views in just a few hours.An established advocate of gold, Peter Schiff, has long expressed doubts about Bitcoin and other cryptocurrencies. He typically accuses Bitcoin of being worthless and extremely volatile making it an unreliable store of value. Globally, Bitcoin is becoming more and more popular and accepted. Not to mention Turkey is one of the countries that embraces Bitcoin the most with millions of holders and users. The last few days have seen a fair amount of stability in the performance of the Bitcoin market. Promising news as Bitcoin has recently started to rise above the $58,000 mark. This increase follows a period of significant price volatility during which they ranged from $56,000 to $60,000. Despite the fact that the current momentum indicates that Bitcoin might be prepared for another surge, market sentiment is still cautious. Technically the 200 EMA, a crucial resistance level that traders closely monitor, has been overcome by Bitcoin. In the event that buying pressure picks up this breakout might indicate a possible upward trend. Many people believe that Schiff secretly loves Bitcoin because of his complex relationships with the cryptocurrency. Regardless of your feelings Bitcoin is more likely to stick around than not and critics like Schiff were mistaken about it in the past. This has been demonstrated by the market’s growth throughout time.This article was originally published on U.Today More

  • 150 Shares99 Views

    in Economy

    Late 2027 looms as ‘realistic’ date for Europe’s stock market shake up

    LONDON (Reuters) – A coordinated move by stock markets in the European Union and Britain to catch up with Wall Street by halving the settlement time for transactions could realistically happen in late 2027, an EU regulatory hearing was told on Wednesday.Trades on the London Stock Exchange, Deutsche Boerse (ETR:DB1Gn), Euronext and other bourses in Europe take two business days to settle, lagging one business day (T+1) in the United States since May.The European Securities and Markets Authority, the bloc’s markets watchdog, held a hearing on Wednesday where a poll of participants overwhelmingly backed an option to complete T+1 in the fourth quarter of 2027.Britain has targeted the end of 2027 at the latest, and later this year the EU’s executive European Commission is expected to propose a date, with technical preparations already underway. “Q4 2027, with all that is already happening, I think is realistic, I don’t think it’s too much of a stretch,” Sebastijan Hrovatin, a senior official at the European Commission, told the hearing, adding that a final decision would be up to the EU states and the European Parliament.Andrew Douglas, head of Britain’s T+1 industry group now compiling recommendations for UK regulators, said these would include a move date “that is looking increasingly like the back end of 2027, probably September, October.”Douglas said he was not sure how the EU and UK could formally cooperate given post-Brexit political sensitivities, but it was necessary for both to align with the United States.Douglas said for EU-UK coordination to take place, the EU needed to “pick a date and stick with it”, as advised by U.S. Securities and Exchange Commission Chair Gary Gensler.The perceived success of the U.S. move has led to a “voluble lobby” in Britain calling for a shift in 2026, but Douglas said that “realistically, I am not sure that’s on the table”.Initially, Europe’s funds industry body EFAMA was lukewarm to T+1, but it told the hearing that its views have evolved after Wall Street’s successful shift, with over half the world’s equity trading now on T+1.Vincent Ingham, EFAMA’s director of regulatory policy, said a need to preserve competitiveness in European markets made a compelling case for the EU “to move as quickly as practically and operationally feasible to T+1, co-ordinated with the UK and Switzerland.” More

  • 100 Shares149 Views

    in Economy

    Europe needs to sharpen its geopolitical chess game

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  • 188 Shares199 Views

    in Cryptocurrency

    Bitcoin and Solana price targets: $250,000 and $800 by the end of 2025 – Liu

    Investing.com – On Tuesday, the well-known crypto analyst Dennis Liu announced that his 2023 forecast for (SOL) was incorrect. The analyst raised his price target for Solana to $480 by the end of 2025, noting that in an ideal scenario, it could even reach $800.
    This forecast is based on several key metrics, particularly the supply and market capitalization of Solana.
    Another important factor is the total market capitalization of the cryptocurrency market. The analyst predicts that could reach a price of $250,000 by the end of 2025, resulting in a market capitalization of approximately $5 trillion.
    Given these positive outlooks, many investors are wondering if there are profitable investment opportunities outside the crypto market. This is where InvestingPro comes into play.
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    Assuming Bitcoin maintains a market dominance of 50%, this would imply a total market capitalization for all cryptocurrencies of $10 trillion.
    Solana’s market dominance has increased from 0.75% to 3% over the past year. If this market share remains constant, Solana’s market capitalization would rise to $300 billion, corresponding to a price of $479 per token. Should the dominance increase to 5%, the price could climb to $800.
    Liu initially assumed a price range of $240 to $250 for Solana but revised this in light of current developments.
    Solana’s increased adoption is mainly based on two points: the Solana Mobile Initiative and Solana Pay. Solana Mobile, active for about two years, offers a mobile-first app store for decentralized applications. This makes it easier for new users to access and use cryptocurrencies, leading many users to prefer the Phantom Wallet, as reported by Coinpedia.
    Solana Pay, a micropayment solution, supports SOL tokens as well as stablecoins like and . It has been an integral part of Shopify (NYSE:) for over a year.
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  • 163 Shares169 Views

    in Cryptocurrency

    Bitcoin price today: rebounds to $58.5k as Mt Gox losses draw bargain buying

    World no.2 token Ether also advanced, extending a recent recovery as markets awaited a key decision from the Securities and Exchange Commission on a spot exchange-traded fund. Bitcoin rose 1.7% in the past 24 hours to $58,423 by 08:31 ET (12:31 GMT). The crypto asset crossed the $59,000 threshold at one point before paring some gains.The world’s largest currency benefited chiefly from bargain buying into recent price declines. Bargain hunters were seen stepping into markets since last week, with crypto investment products, such as Bitcoin ETFs, seeing capital inflows on this trend.But sentiment towards crypto remained largely on edge, especially amid uncertainty of just how many tokens defunct crypto exchange Mt Gox will distribute as part of compensation for a 2014 hack.Mt Gox was seen mobilizing about $9 billion of Bitcoin earlier this year- representing a sizeable chunk of current supply. A sale at that scale presents steep losses for Bitcoin’s price. Additionally, the German government was also seen offloading Bitcoin confiscated from a piracy website. Reports said the government held at least $2 billion worth of Bitcoin, and was steadily selling the token in the open market. Recent weakness in the dollar also offered some relief to Bitcoin, although the greenback steadied this week following testimony from Federal Reserve Chair Jerome Powell, where he gave no clear cues on plans to cut interest rates.Focus is also on key consumer price index inflation data, due on Thursday.Broader crypto prices tracked Bitcoin’s recovery.Ether climbed 0.7% to $3,105.34, extending a recent recovery as markets waited on the SEC to approve amended applications from issuers for a spot Ether ETF.The ETF could be approved by as soon as mid-July and is expected to attract some measure of institutional capital into the world’s second-largest cryptocurrency.Among other altcoins, Solana advanced 1.9%, also gaining on the prospect of a spot ETF, while XRP and Cardano added 1.1% and 2.7%, respectively.Among memecoins, SHIB edged higher by 2%, while Dogecoin added 1%.The ongoing upward trend in Bitcoin may continue for some time and potentially boost Bitcoin toward the $60,000 mark, however, the rally will likely be transitory, digital assets research firm 10x Research said. “The $55,000-$56,000 range is forming a base from a technical analysis perspective. However, given the medium-term technical damage, we anticipate no more than a short-term tactical bullish countertrend rally,” it wrote in a note seen by CoinDesk.”We anticipate Bitcoin could rally back to nearly $60,000 before experiencing another decline to the low $50,000 range, creating a complex trading environment.”Furthermore, analysts at K33 Research pointed out that seasonal trends are not favorable for Bitcoin, with the third quarter historically showing the weakest returns.According to K33 estimates, the market will need to absorb between 75,000 and 118,000 BTC in sales from Saxony and Mt. Gox customers over the summer, which amounts to a value of $4.3 billion to $6.8 billion at current prices. More