BlackRock Blog

Nov 28, 2023

Australian Retail Sales Unexpectedly Fall as Rates Take Toll Polish President Appoints Government for Short-Lived Stint Asian Shares Look Mixed; Treasuries Extend Rally: Markets Wrap New Zealand Wind Farms Achieve Record Share of Power Generation China’s Property Lifeline Exposes Banks to Big Losses, Job Cuts North Korea Claims New Spy Satellite Took Photos of White House One in Four UK Homebuyers Clinch Discounts of More Than 10% Inflation in UK Shops Falls to a 17-Month Low The Hong Kong Judge Who Puts Fear Into China’s Deadbeat Builders Google Alum’s AI Startup Raises $24 Million for Biotech Work A Showdown Over Deep Sea Mining Is Taking Place in the Pacific Cyber Monday Forecast Boosted Based on Strong Holiday Spending Binance’s Zhao Can’t Return to UAE From US for Now, Judge Says KPMG, Deloitte Ask Staff to Use Burner Phones for HK Visits: FT US Labor Board Dismisses Claim Tesla Fired Dozens in Retaliation for Union Drive MLB, Formula 1 Face Fraud Suits for Promoting FTX Cryptocurrency Milei’s Conversion to Judaism Seals Pro-Israel Push by Argentina Fashion Retailer Shein Files Confidentially for US IPO Alex Jones Needs Sandy Hook Families’ Approval to Exit Bankruptcy Asian Shares Look Mixed; Treasuries Extend Rally: Markets Wrap New Zealand Wind Farms Achieve Record Share of Power Generation Oil Edges Higher With Chance of Deeper OPEC+ Cuts in Focus A Showdown Over Deep Sea Mining Is Taking Place in the Pacific Traders See as Much as 250 Basis Points of US Rate Cuts in 2024 Pathways Alliance increasingly confident $16.5B carbon capture project will go ahead Hedge Fund Dollar Bulls Hold Fast Even as US Currency Erases Gains The Panama Canal Is So Backed UpShips Are Rerouting Through the Suez Qatar Says Israel, Hamas Agree to Extend Truce for Two Days French Nuclear Startup Seeks €150 Million for Reactor Prototype White House Touts New Supply Chain Measures as Inflation Eases Investors Rethink Stock Bets Ahead of Sweeping New Carbon Laws How Shell, Chevron Are Delaying US Efforts to Refill Its Emergency Oil Reserve Germany to Compensate Power Users Hit by Grid Bottlenecks A Record Number of US Travelers Fly After Thanksgiving Italy Approves €27.4 Billion Investment in Green Energy Shift Greek Oil Tanker Owners Avoiding Russia After Treasury Letters Panama mine protests: A look at what’s happening with First Quantum Minerals Israeli-Linked Oil Tanker Boarded Off Yemeni Coast, AFP Says Saskatchewan projects $250M deficit in mid-year financial report, expenses up $1.3B Larry Berman on where markets might go in 2024 The Daily Chase: Shopify up after Black Friday Buyer beware: porch piracy set to ramp up with holiday season fast approaching Food inflation: Prices slowed in October but still high Survey says 75% of B.C. 's jobs in next decade will need post-secondary education Manitoba government may push back promise to freeze hydroelectric rates Canadians look for Black Friday deals but plan to spend less: Deloitte Canada Economists react to 'blowout' retail sales figures Canada retail sales jump 0.8% in sharp spending rebound The Daily Chase: Retail sales jump as Black Friday kicks off 'A long time coming': Ottawa looks at requiring corporate climate disclosures Economic impact of U.S. border incident 'could have been so much worse': Niagara Falls mayor The Daily Chase: Investors brace for bank earnings How will the Canada 'mortgage charter' impact homeowners, bank earnings? Macklem appears confident in inflation progress, rate cuts could come soon: economist Ottawa mulls removing 30% rule for pension fund investing Fighting inflation half-heartedly would be 'huge mistake,' Macklem warns Fiscal and monetary policy rowing in opposite directions, Macklem says Polish President Appoints Government for Short-Lived Stint North Korea Claims New Spy Satellite Took Photos of White House Milei’s Conversion to Judaism Seals Pro-Israel Push by Argentina UK’s Sunak Annoys Greece by Scrapping Meeting Over Elgin Marbles Qatar Says Israel, Hamas Agree to Extend Truce for Two Days Mexico’s Sheinbaum Names Party Heavyweights to Campaign Team Zuckerberg Vetoed Ban on Plastic Surgery Filters Despite Concerns for Teens, Suit Claims Italy Set to Back Vestager for EIB If Its Candidate Can’t Win RBNZ May Push Back Against Easing Bets as it Holds Rates Steady EU Commission’s Jourova Praises Ukraine’s Anti-Graft Effort Italy Approves €27.4 Billion Investment in Green Energy Shift Niger Junta Revokes Anti-Migration Law in Blow to EU Strategy Musk Says He’d Like to Help Rebuild Gaza in Chat With Netanyahu Sierra Leone Hunts Gunmen, Tightens Security After Base Attack Israeli-Linked Oil Tanker Boarded Off Yemeni Coast, AFP Says Lula Defies Calls to Put First Black Woman on Brazil’s Top Court Milei to Send ‘Shock’ Package to Argentina’s Congress on Day One Germany Approves Revised 2023 Budget Suspending Borrowing Limit Taiwan’s Latest Poll Shows Outsider Leading Presidential Race Google Alum’s AI Startup Raises $24 Million for Biotech Work Cyber Monday Forecast Boosted Based on Strong Holiday Spending Binance’s Zhao Can’t Return to UAE From US for Now, Judge Says MLB, Formula 1 Face Fraud Suits for Promoting FTX Cryptocurrency Fashion Retailer Shein Files Confidentially for US IPO Meme-Stock ETF Shuts After Failing to Attract Day Traders Amazon Is Eyeing More Miami Office Space as Bezos Moves South Reddit Leads Class of 2024 US IPO Candidates Testing the Water Amazon’s $1.4 Billion iRobot Deal Gets EU Warning on Competition Americanas Closes Deal With Banks to Restructure Debt Judge Denies Meta Bid to Force FTC Into Court Over Privacy Deal Zuckerberg Vetoed Ban on Plastic Surgery Filters Despite Concerns for Teens, Suit Claims RBC predicts 'robust growth' in EVs, 75% market share by 2050 Reluctant Tycoon Becomes Billionaire at Netflix Rival in Japan Elon Musk Wields Starlink in Israel to Curb Uproar Over Antisemitism Germany to Compensate Power Users Hit by Grid Bottlenecks Bitcoin ETF Optimism Spurs Largest Asset Inflows Since Late 2021 Musk Says He’d Like to Help Rebuild Gaza in Chat With Netanyahu Sumitomo Mitsui CEO Ohta, Who Pushed Asia Expansion, Dies at 65 The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. China Remains Risk for EM Equity Rally Driven by Earnings, Flows Meme-Stock ETF Shuts After Failing to Attract Day Traders Bitcoin ETF Optimism Spurs Largest Asset Inflows Since Late 2021 Traders Buy Argentina ETF at Fastest Pace in Almost a Decade Billions Wiped Out as Stock-Safety Trade on Wall Street Misfires Green Stock Selloff Deepens as Tesla Sentiment Sours Circle, Japan’s SBI Enter Pact to Spur Stablecoin USDC Usage Wall Street Throws Caution to the Wind to Keep Up With Stock Rally USO Oil ETF Sees Biggest Outflow Since 2016 Ahead of OPEC+ Talks Climate Funds Look to Regain Footing After Three Down Years BlackRock’s Top European Credit ETF Sees Inflows Surge Chinese City Cracks Down on Stock Market Rumors Amid Slump New ETF Tracks Developers of Obesity Drugs Amid Ozempic Hype Crypto Market Is Just Fine With a $4 Billion Penalty for Binance Argentina Investors Cheer Milei Victory, Brace for Peso Selloff Wood’s Ark, 21Shares Unveil Fee on Pending Spot Bitcoin ETF Bitcoin ETF Hype Has Wall Street Eyeing $100 Billion Crypto Potential China’s Early Stage Technology Stocks on Brink of Bull Market Lasting Recovery in Small Caps Still Elusive as Debt Costs Bite World Series breakthrough for teams’ business Shane Pinto suspension the result of a regulated gambling market that works, say industry insiders Canadian Football League fanatics fuel financials What’s next for private equity investment in professional sports? Canada’s Davis Cup team finding love Impact of Jersey Ads on the NHL Promising Puck Drop for PWHL Betting on Women's Sports is on the Rise NHL expands market to Oz ‘Tis the Season for Selling Sports Books Television deals, ratings generate record-setting NFL revenue Playing for global basketball and sponsorship glory Awareness still at disadvantage in decades-long battle for tennis pay equity FanDuel, Rivalry deliver something new for betting customers Corporations considering Canadian cricket Tracy Withers, Bloomberg News (Bloomberg) -- New Zealand wind farms contributed a record 13.3% of weekly power generation earlier this month as the South Pacific nation continues a push to produce more electricity from renewable sources. The increased share compares with an average of 6% in 2022 and reflects a combination of more wind generation capacity and lower electricity demand as the weather warms up, the Electricity Authority said in a statement Tuesday in Wellington. Last week, total wind generation exceeded 100 GWh for the first time, the regulator said. New Zealand produced 87% of its electricity from renewable sources in 2022, with hydro production accounting for 60%. As sites for dams become harder to justify, power companies have switched to more geothermal, wind and solar projects to help reduce reliance on gas and coal-fired generation. The previous government wanted New Zealand to be producing all its power from renewable plants by 2030. The new center-right administration sworn in this week has said it will reform planning laws and speed up consents for new infrastructure projects, with the aim of doubling renewable electricity. New Zealand Works With BlackRock in Pursuit of 100% Green Power Still, the new government will also restart offshore exploration for natural gas, aiming to ensure thermal plants can maintain production in the event of drought or other weather events that threaten security of supply. The wind generation record was achieved as Meridian Energy began production from its Harapaki site, which was the third new wind farm to be commissioned this year, the authority said. “As more of Harapaki’s wind generation comes online and electricity demand eases during summer, the share of wind generation will continue to set new records,” it said in the statement. ©2023 Bloomberg L.P.