Author: Steven Sahiounie

EV charging network operator EVgo on Thursday reported fourth-quarter revenue that beat Wall Street expectations and posted a narrower-than-expected loss as booming demand from business clients drove big jumps in sales and usage. While EVgo’s revenue guidance for 2023 fell slightly short of Wall Street’s expectations, investors didn’t seem to mind: Shares were up over 20% in early trading following the news. Here are the key numbers from EVgo’s fourth-quarter earnings report, compared with Wall Street consensus estimates as reported by Refinitiv. EVgo’s fourth-quarter revenue marked a 283% increase from a year ago. The company’s net loss for the quarter was $17 million.…

The European Union is poised to ramp up its 2030 renewable energy targets, accelerating a shift away from fossil fuels as the bloc seeks to rapidly cut emissions and reduce its dependence on Russia. Negotiators from the European Council and Parliament on Thursday reached a provisional deal to source 42.5% of the 27-nation bloc’s energy from renewable technologies such as wind and solar by the end of the decade, EU lawmaker Markus Pieper said via Twitter. Pieper described the agreement as “a good day for Europe’s energy transition.” The deal is said to include an additional 2.5% “indicative top-up” to allow the bloc to…

Initial filings for unemployment insurance ticked higher last week but remained generally low in a tight labor market. Jobless claims for the week ended March 25 totaled 198,000, up 7,000 from the previous period and a bit higher than the 195,000 estimate, the Labor Department reported Thursday. Though the number was slightly higher than expectations, the total indicates that companies are slow to lay off workers despite expectations that the unemployment rate will rise through the year. Continuing claims, which run a week behind, edged up 4,000 to 1.689 million. That was below the FactSet estimate for 1.6935 million. The four-week moving…

By: Javad Masoumi, a geopolitical researcher and analyst Israel’s situation after three months of protests and social unrest and the lack of compromise between the leaders of this regime has had a wide regional and extra-regional reflection.  So that many political experts believe that Israel is on the verge of collapse.  This social and security crisis will become much more sensitive and widespread at the same time as Ramadan.  Because in the current state of Israel’s security institutions, it has to focus on two completely different situations: the internal crisis and the axis of resistance on the other hand.  In…

The two BRICS nations will now reportedly trade in their own currencies Beijing and Brasilia have signed an agreement on trade in mutual currencies, abandoning the US dollar as an intermediary, and are also planning to expand cooperation on food and minerals. According to media reports, the deal will enable the two BRICS members to conduct their massive trade and financial transactions directly, exchanging renminbi for real and vice versa, instead of using the US dollar for settlements. “The expectation is that this will reduce costs… promote even greater bilateral trade and facilitate investment,” AFP quoted the Brazilian Trade and Investment Promotion…

Credit Suisse violated its own 2014 plea agreement, US lawmakers have claimed Swiss bank Credit Suisse is complicit in an ongoing scheme by wealthy Americans to evade taxes, despite an earlier commitment to a crackdown, the US Senate Finance Committee claimed on Wednesday. Credit Suisse pleaded guilty in 2014 to criminal charges for helping rich US clients hide assets in offshore accounts to avoid paying taxes. As part of the plea agreement, the bank pledged to crack down on tax dodgers. However, according to the results of a two-year investigation by the committee, the bank failed to comply. The probe…

The transaction involved a shipment from the United Arab Emirates, according to the Shanghai exchange China has conducted its first liquefied natural gas (LNG) purchase settled in yuan, the Shanghai Petroleum and Natural Gas Exchange announced on Tuesday. The trade involved around 65,000 tons of LNG imported from the United Arab Emirates, according to the exchange. TotalEnergies, which is one of the world’s top exporters of LNG, confirmed a transaction involving the UAE without specifying the details, Reuters reported. The move is the latest sign of the yuan’s growing role on the international stage, according to the outlet. As part…

Cargill will stop exporting from Russia in July, RBK reports Global commodities trader Cargill will stop exporting Russian grain in the new crop year, which starts on July 1, business daily RBK reported on Wednesday, citing a letter sent by the company to Russia’s Agriculture Ministry. The Russian unit of the American corporation named “earlier discussions on grain export issues and the recommendations of the Agriculture Ministry” as the reason for halting exports, but stressed that the shipments planned for the current 2022/2023 exporting season will be made “in full compliance with the existing quota,” RBK writes. According to the outlet, in the…

New Delhi continues to boost Russian crude imports despite Western sanctions on Moscow Moscow and New Delhi have agreed to “substantially increase” the supply of crude oil to India and diversify its grades, Russian energy major Rosneft announced on Wednesday. A deal was reached with the Indian Oil Company during a trip by Rosneft CEO Igor Sechin to the Asian country, the Russian firm said in a press release on its website. Sechin also met with the heads of some of India’s largest oil and gas companies and discussed wider cooperation in the energy sector, the press release stated. Possible trade settlements…

Government officials are seeking to cut an annual £2.3 billion ($2.8 billion) spend on accommodation for asylum seekers The UK government has revealed plans to place asylum seekers in disused army barracks as it seeks to reduce the cost of temporary housing for migrants, according to a proposal published on Wednesday. The proposal, which was detailed on Wednesday by UK Immigration Minister Robert Jenrick in the House of Commons, comes amid controversial plans by Prime Minister Rishi Sunak’s Conservative government to reduce cross-channel migration – with Jenrick citing a yearly bill of £2.3 billion ($2.8 billion) currently being paid to…