European lithium-ion battery developer and manufacturer, Northvolt, has successfully secured a substantial non-recourse project financing package of US$5 billion (€4.6 billion) from various EU and Nordic institutions. The funding, inclusive of a refinancing component from a previous US$1.6 billion package obtained last year, is earmarked for the expansion of cathode and cell production (Northvolt Ett)…
Britain has committed 20,000 military personnel for participation in a significant NATO exercise in the first half of this year, alongside warships and fighter jets, according to an announcement by the defense ministry on Monday. This deployment involves 16,000 troops from the British army, stationed in Eastern Europe from February to June, along with an…
In the final quarter of 2023, Europe experienced a significant shift in its energy landscape as wind power surpassed coal in electricity generation for the first time, marking a crucial milestone in the regional transition towards cleaner energy sources. According to data from the think tank Ember, European power producers achieved a record-breaking 193 terawatt…
Coinbase has disclosed its intention to acquire a Cyprus-based company with the aim of providing cryptocurrency-linked derivatives within the European Union (EU). The announcement, made on January 5 via the company’s blog, outlined the strategic move to secure a Markets in Financial Instruments Directive (MiFID) license from the non-disclosed company. MiFID is the regulatory framework…
A substantial quantity of Pfizer’s Paxlovid, a crucial antiviral drug for Covid-19, has gone unused and expired in Europe, resulting in significant financial losses for purchasers. Stringent restrictions on the eligibility for receiving the medication have led to millions of doses being wasted, in stark contrast to the drug’s accessibility in the United States. In…
According to the Institute of International Finance, markets like the United States and Japan were the main drivers of the growth in global debt, which reached a record $307 trillion in the second quarter of the year despite rising interest rates restricting bank credit. The amount of global debt in dollars increased by $10 trillion…
Tuesday saw a decline in oil prices as new data increased concerns about the state of China’s post-pandemic recovery, but losses were restrained by anticipations of an extension of production curbs by key OPEC+ members. Brent crude futures for November dipped by 65 cents; on the other hand, Texas intermediate crude October futures were down…
Credit Suisse, a 166-year-old company that is winding down trading in global securities, said it will reduce the volume of new market activity starting on September 22 while UBS (UBSG.S) integrates its former rival. Clients of Credit Suisse, which trades a wide range of assets from equities to currencies, won’t longer be able to increase…
In a statement on Tuesday, the US’s largest bank, JP Morgan & Co., announced that it has increased its stake in C6, a Brazilian digital bank, to 46% from 40%, without disclosing the financial terms. Since 2021, the C6 had expanded their clients to 25 million from 8 million, the banks said, and when JPMorgan…
According to the news source, Inside Paradeplatz and UBS (UBSG.S) have resolved a legal dispute that Credit Suisse had first filed against the well-known finance blog with headquarters in Zurich. Inside Paradeplatz consented to remove or edit three posts worth of user comments as a part of their settlement. The rest of the claims were…
