A global drive towards electrification of road transport to reduce carbon emissions may cut demand for the world’s oil refining capacity by half in 2050, consultancy Rystad Energy says. “Going forward we will be touching by 2050 somewhere very close to 90 percent of electrification,” Mukesh Sahdev, senior vice president and head of downstream at…
Electric Vehicles May Cut Global Refining Capacity Demand by Half in 2050: Rystad
September 21, 2021
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Fed Faces Jittery Markets Ahead of Key Policy Meeting That Will Consider Stimulus Rollback
September 21, 2021
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Markets remained jittery from China’s Evergrande troubles as investors look to the Federal Reserve’s two-day policy meeting Sept. 21–22 for developments around policymakers’ projections for future rate hikes and the timing and pace of tapering the central bank’s massive bond buying program. Asian stocks struggled to shake off contagion fears on Sept. 21 and selling…
UK’s Johnson Discussed Taxation With Amazon’s Bezos
September 21, 2021
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LONDON—British Prime Minister Boris Johnson discussed the issue of taxation when he met Amazon’s founder Jeff Bezos in New York, Downing Street said. “The prime minister raised the issue of taxation, and hoped progress could be [made] in implementing the G7 agreement on tax,” a Downing Street spokesperson said in a readout of the meeting….
Gas Price Surge, Just One More Headwind for World Economy
LONDON—Soaring gas prices that threaten to push up winter fuel bills, hurt consumption and exacerbate a near-term spike in inflation are another blow to a world economy just getting back on its feet after the coronavirus shock. The gas market chaos, which has driven prices 280 percent higher in Europe this year and led to…
Bitcoin Attempts Recovery as Evergrande-Led Selloff Eases
Cryptocurrency prices bounced off 1–1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility. Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the…
Oil Rises 1 Percent as US Storm Aftermath Tightens Supply
September 21, 2021
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TOKYO—Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 95 cents or 1.3 percent to $74.87 a barrel by 0645 GMT,…
The Number One Thing That Determines the Sale Price of Your Business
In the past year, our company, Acceleration Partners, has been evaluating several potential acquisitions as part of our partnership with a private equity firm. Unfortunately, as we’ve connected with several first-time sellers in this process, it’s become clear that many founders don’t have an accurate sense of what their company is worth to a buyer….
Price of Kansas Farmland up More Than 10 Percent
The price of farm real estate and cropland in Kansas has risen more than 10 percent in the past year. “There are many reasons for the current increase in farm real estate and cropland values, such as historically low-interest rates, improved farm economy, increased demand of farmland for urban use and other outside investments,” Dean…
UK Meat Industry Warns of Imminent Supply Threat From CO2 Crisis
LONDON—Britain’s meat processors will start running out of carbon dioxide (CO2) within five days, forcing them to halt production and impacting supplies to retailers, the industry’s lobby group warned on Monday. A jump in gas prices has forced several domestic energy suppliers out of business and has shut fertilizer plants that also make CO2 as…
Fed to Reveal New Projections With Investors on Alert for Rate Liftoff Timing
Federal Reserve officials will lay bare how soon and how often they think the economy will need interest rates rises over the next three years when they release new forecasts at their policy meeting on Wednesday, with investors on alert for a faster pace of tightening. The so-called “dot plot,” released quarterly, charts policymakers projections,…
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