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Holcim increases recycling of building materials with three deals
Holcim announced on Tuesday that it had acquired three companies in Britain (Britain), France (France) and Germany which use recycled demolition material. This is the latest acquisition by the Swiss cement manufacturer as it moves towards circular construction. Holcim closed the acquisitions of Thames Materials in London, a recycler and demolisher of construction materials, as well as a majority stake of A&S Recycling in Hanover, Germany. Holcim has agreed to purchase a recycling company in the northwest of France that recycles construction demolition materials. The name was not disclosed. CEO Miljan Gutovic stated that the deals were part of Holcim’s strategy to expand its circular construction. This involves recycling concrete, bricks, and metal into new building materials. Holcim aims to recycle 20 millions tons of demolition materials a year, by 2030. This is a market that's growing as customers are looking to reduce their carbon footprint and increase profit margins. The company will recycle 5.6 million tonnes in the first nine-months of 2025. This is 20% more than the previous year. Gutovic stated in a press release that "the future of construction will be circular, and I am looking forward to realizing this future with our new colleagues." (Reporting and editing by Miranda Murray, with John Revill)
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Maritime body: Russian-flagged oil tanker reports an attack near Turkey coast
The Turkish maritime authority reported on Tuesday that a Russian-flagged oil tanker, sailing from Russia to Georgia with sunflower oil loaded aboard, was attacked near the Turkish coast. However, its 13 crew members were not injured. The Maritime Affairs Directorate reported that the vessel MIDVOLGA-2 had been attacked 80 miles (129 kilometers) off the Turkish coastline, but it did not request assistance. It was heading towards the Sinop port in Turkey. The report did not give any other details. Last Friday, Ukrainian drones targeted two tankers that were sanctioned in the Black Sea, as they approached a Russian port with oil bound for foreign markets. Kyiv was trying to put pressure on Russia's huge oil industry. Tayyip Erdoan, the Turkish president, said that Monday attacks on Black Sea commercial ships were unacceptable. He issued a warning to all "related sides."
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Maguire: Hybrids are helping to sustain US demand for clean cars despite cuts in subsidies
After the federal subsidies were scrapped, the first month's data on electric vehicle sales in America raised concerns about a U turn and a return of transportation based on fossil fuels. Climate trackers are encouraged by the continued sales of hybrid electric vehicles, which continue to be robust despite Washington's sharply reduced support for the EV industry. The U.S. electric vehicle industry is likely to be more negative than ever, as sales of plug-in vehicles are likely to remain low in the short term, now that the $7.500 tax credit has been eliminated. Even without federal assistance, the demand for low-emission vehicles is still high in the United States. BIG PLUNGE The October sales figures painted a picture that the EV industry was in turmoil and there was little interest in electric vehicles without government assistance. Argonne National Lab (ANL) data shows that sales of battery-electric vehicles (BEVs), which are electric cars with batteries, were at just over 75,000 units. This is 47% less than September's total, and the lowest number since January 2023. The sales of plug-in hybrid EVs dropped 19% in the previous month, and also reached a near three-year low. A wider look at the sales data of both types of vehicles reveals a sharp increase in BEVs and PHEVS prior to the subsidy reductions, which has in turn accentuated the decline seen since. The combined sales of BEVs, PHEVs and hybrids in the first 10 month of this year reached a new record of 1.3 millions units. This is a 4% increase from the same period of 2022. From January to October 2024, the total sales of BEVs and PHEVs reached a record 1.3 million units, an increase of 4%. The loss of the tax credit still leaves car dealers in a quandary over how to fill the subsidy hole and reduce any perceived rise in EV price compared to the prices faced by buyers prior to October. HYBRID HOPES Contrary to the sharp declines in BEV and PHEV sales in the previous month, hybrid electrics saw a 6% increase in October compared to the month prior, reaching 159 431 units. This was the highest HEV monthly sales total since July and brought the total HEV sales from January to October to a new record of 1.64 million units. This year-to date sum was 25% higher than all plug-in vehicles sold so far in 2025. It helped HEVs cement themselves as the most popular part of the EV eco-system, despite BEV sales growing faster since 2019. The updated EV sales figures for November are due in the next few weeks. They will reveal a continued weakness of new plug-in EVs, as buyers and dealers try to close the gap between the prices. These weak sales figures could be interpreted in a way that indicates a further shrinkage in the U.S. electric vehicle market, and also a sign the the clean car industry is unable compete without federal assistance. The purchase volume of hybrid electrics will provide a better indication of the demand for clean cars in the United States. These vehicles are priced similarly to those with combustion engines and allow cost-conscious consumers to reduce their fuel dependence at a lower price. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Wall Street Journal, December 2,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Costco sued the U.S. Government to make sure it gets a refund if the Supreme Court rejected President Donald Trump’s request for broad authority to impose tariffs. Apple has appointed Amar Subramanya, a veteran researcher and AI expert, as its new vice president. He replaces John Giannandrea. The Trump administration agreed to buy a stake in xLight, a startup that is developing free-electron lasers. These lasers are seen as a key component to creating faster computer chips. Warner Bros Discovery is preparing to receive a second round bids in an auction which could end in the next few days or weeks. Netflix has made a cash-based offer. Shopify has announced that it has fixed issues with logging into the online shopping platform which affected thousands of customers as well as several small businesses during Cyber Monday. Federal Aviation Administration (FAA) sent letters to airlines asking for information on the steps taken to comply with an order issued in early November to reduce flights into 40 major airports.
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China Vanke bonds drop as developer wants to delay bond repayment by one year
China Vanke bonds fell on Tuesday, after the developer sought to defer a bond repayment for one year. China Vanke, formerly the top homebuilder in China by sales, has been trying to avoid default after a prolonged real estate slump that has affected all of its main competitors. Shenzhen Stock Exchange suspended trading early after a yuan bond with a maturity date of May 2028 dropped by as much as 22 per cent to 23 par value. The developer's exchange traded bonds are all at similar prices. Three sources said that Vanke had asked bondholders of a 2 billion Yuan ($283 millions) bond due to mature on December 15, whether they could delay principal and interest payments till the same date next year. They said that the coupon would remain at 3 percent during the extension. China Vanke, a company owned by Shenzhen Metro to the tune of 30%, has declined to comment. This would be the first time a developer has requested a delay for an onshore bond. The company announced the extension last Monday without revealing how long it wanted to delay. The proposal must be approved by 90% of bondholders at a meeting scheduled for December 10. The market is divided over whether bondholders would approve the plan. According to one source, bondholders are unlikely to approve a loan without collateral, or if the principal and interest payments were made in a straight-forward, unsecured manner. A second source stated that investors were clearly not happy with the plan for extension, but it may still be approved after stakeholders reach a compromise. As the matter is confidential, we have not named the person. Bloomberg was the first to report on Monday that an extension plan had been announced. Reporting by Beijing and Shanghai Newsroom, Editing by Christopher Cushing & Sonali Paul.
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US to withhold $30.4 Million from Minnesota due to foreign truck drivers' licenses
The U.S. Transportation Department announced on Monday that it could withhold up $30.4 million of federal highway funding to Minnesota due to improperly issued commercial driver's licenses to non-U.S. citizens. After a federal audit, the letter sent to Minnesota Governor Tim Walz gave Minnesota 30 days to comply and revoke licenses. After a fatal accident in Florida and an audit by the government, the Transportation Department issued emergency regulations to severely restrict commercial drivers licenses for non-U.S. Citizens. Walz's spokesperson did not respond immediately to a comment request. Separately USDOT announced that it would remove nearly 3,000 commercial license training providers for failing to adequately equip trainees. The USDOT also announced that another 4,000 providers of training were put on notice due to possible non-compliance. Walz, 2024 Democratic Vice Presidential nominee Walz has been repeatedly attacked by President Donald Trump. Walz called on Trump last week to release results of a recently performed MRI. Karoline Lavitt, White House Press Secretary, said that on Monday that revealed that Walz was in good heart health. USDOT stated that in 2023, approximately 16% of U.S. drivers born outside the United States. USDOT threatened last month to withdraw $160 million from California for failing to revoke the 17,000 commercial drivers licenses that were held by foreigners and which, according to the government, had been issued improperly. USDOT withheld $40,6 million in federal transportation funds from California for not complying with the truck driver English proficiency rule. The Trump administration took a number of steps to address concerns regarding foreign truck drivers that do not speak English. Secretary of State Marco Rubio announced in August that the United States would immediately suspend the issuance all commercial truck driver visas. In April, Trump issued an executive order that directed enforcement of a rule that required commercial drivers to meet English proficiency requirements in the U.S. The order reverses 2016 guidance which stated that inspectors shouldn't remove commercial drivers from service for a single infraction of not knowing English. (Reporting and editing by Leslie Adler, Matthew Lewis, and David Shepardson from Washington)
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CANADA-CRUDE-Discount on Western Canada Select widens
On Monday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) widened. WCS for Hardisty, Alberta delivery in January settled at $12.75 per barrel below U.S. benchmark WTI according to brokerage CalRock. This compares to $12.40 Friday. * The WCS Discount began the month at its largest point since March. Analysts predict that the WCS discount will continue to widen through the winter as seasonal supply increases and pipelines are used more, while OPEC+ barrels on global markets increase. The Canadian crude market began its trading cycle on Monday. This cycle runs from the 1st of every month to the day before pipeline nominations due date, and is where the majority of trading takes place. * Oil prices increased by more than 1% Monday, following the drone attacks by Ukraine and the United States' closure of Venezuelan airspace. OPEC also decided to maintain the same output level in the first quarter 2026. (Reporting from Amanda Stephenson, Calgary; Editing done by Maju Samuel.)
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Zipcar, the car-sharing company, plans to stop operations in UK
Zipcar, an American car-sharing company and a subsidiary of Avis Group, announced on Monday that it will cease operations in the United Kingdom, as well as suspending any new bookings after the end of this year. The company said it was awaiting the results of formal consultations with its UK staff before deciding on a date for the closure of their operations. Avis Budget Group's spokesperson stated in an email that Zipcar had proposed changes to the UK operation as part of an overall transformation for international operations. This proposal is only for the UK market. Zipcar's operations on the United States market and other international markets continue to be fully operational, according to the statement. Zipcar provides car rental services in Europe and North America to students and business people. It has over 1 million members. Avis Budget Group acquired it in 2013 for approximately $500 million. Reporting by Unnamalai and Nishara in Bengaluru, editing by Shrey Biswas and Alan Barona
Maguire: Key US electricity prices and output trends to 2025.
In the first half of 2025, there were a number of milestones in U.S. power and electricity, including records for generation, retail prices, and demand.
Here are some key data points to track the ongoing changes in the U.S. electricity and power sectors. These are being impacted by historical swings in federal policies, rapid deployment of clean energy and surging demand from consumers and businesses.
GROWTH OF OUTPUT
The U.S. electricity output between January and June 2025 will reach a new record as solar and wind farms produce at all-time levels.
Data from Ember show that the total utility-supplied electric production from January to the end of June reached 2,188 terawatts hours (TWh), the highest ever for this period. This is also 4% higher than the same months from 2024.
Solar output grew by 32% over the past year, and wind farm production reached a record. Clean energy electricity supply increased 6% from last year to 989 TWh.
In the months of January to June 2016, clean power sources accounted for a record 45.2% of all electricity, up from 44.2% in the same period a year earlier.
During January to June, fossil fuels produced 1,199 TWh or 54.8%.
Gas prices increased in early 2025, resulting in a 4% decline in output from natural gas plants.
In order to compensate for the drop in gas-powered power, utilities increased coal-fired electricity output by 17% from January to June compared with 2024. Coal generated 16% of all power, which is the highest level for the first half of this year since 2022.
Price Gains
The U.S. Federal Reserve System data shows that retail electricity prices in the U.S. also reached new heights this year.
In recent years, the cost of electricity in the United States has steadily increased due to a combination of factors, including the growth in electricity demand from data centers and AI applications as well as electric vehicles, air conditioners, and electric cars.
The average electricity rate in June of 2025 was 6.7% higher than the rate in the same month in 2024. This means that the cost of electricity for households has risen at a pace that is more than twice as fast as the overall consumer price inflation in the United States during that time period.
Electricity costs are rising due to the increasing spending of utilities on upgrading aging grids that struggle to handle higher loads and growing amounts of renewable energy.
BLAME GAME
U.S. president Donald Trump blames the policies of former president Joe Biden, saying that the subsidies for renewable energy supplies have increased costs for utilities.
Republican lawmakers cited high electricity costs in California, which has some of the most aggressive clean-energy targets in the nation, as proof that clean-energy goals increase consumer energy bills and as a justification for cutting clean-energy support from the latest budget.
However, electricity prices have risen in states that have a strong opposition to clean energy.
The U.S. Energy Information Administration's (EIA) data shows that electricity costs in California, the state with the highest prices, have been around 31.5 cents/kWh on average this year, compared to just under 32 cents/kWh by 2024.
Electricity prices in Iowa, Kansas, and Nevada have also fallen from a year earlier. These states have all seen a dramatic increase in the supply of clean energy in electricity production so far in this decade.
Electricity costs have increased far more in states that have energy systems which have suppressed the growth of renewable energy sources than the national average.
Florida, which bans wind power and limits state support for solar energy, has seen its average prices rise by 5% this year to 14.94 cents/kWh compared to 14.25 cents/kWh a decade ago.
Indiana, Tennessee South Carolina, Wisconsin and other states have seen their electricity prices rise more than the U.S. national average this year. They have also experienced a slower growth in clean energy than California this decade.
Electricity prices in these states are still below the national average of 16.75 cents/kWh, which is what they were so far this year.
All utilities are responsible for delivering grid upgrades in the next few years, as power demand is on the rise across the country.
Some states that have large amounts of solar and wind power may be able avoid steep price increases in the near future, since generation costs for renewables are often lower than fossil fuel plants.
In areas where there is little or no clean energy, utilities will have to increase the cost of electricity to consumers to continue operating fossil power plants.
These utilities are also more exposed to fossil fuel prices in the future, as federal funding for clean energy is cut and policy measures continue to direct power expansion towards fossil fuels.
This means that any additional increases in gas or coal costs due to increasing power demand could also be passed on by the consumers and could further increase the rise in energy bills for customers in areas lacking significant clean energy sources.
These are the opinions of the columnist, an author for.
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(source: Reuters)