2025-11-11 09:34
PARIS, Nov 11 (Reuters) - Crypto tokens linked to mainstream financial assets could create new risks for investors, the global securities regulator IOSCO said in a report on Tuesday, as the finance industry remains split on the merits of "tokenization". Tokenization - the process of creating blockchain-based tokens linked to real-world assets such as stocks or bonds - has seen a revival of interest among crypto enthusiasts this year, with new tokenized products being sold to the public via online brokers. Sign up here. IOSCO, a body whose members are the regulators responsible for almost all of the world's securities markets, said that the majority of the risks around tokenization come under pre-existing frameworks, but that there could be new risks and vulnerabilities stemming from the underlying technology. "Although adoption remains limited, tokenization has the potential to reshape how financial assets are issued, traded, and serviced," said Tuang Lee Lim, chair of IOSCO's board-level fintech taskforce. The different ways tokenized assets are structured could leave investors uncertain about whether they own the underlying asset or just the crypto token, and the third-party token issuer creates counterparty risks, IOSCO added, echoing some of the concerns raised by the European Union's securities regulator in September. "Tokenization could also suffer from potential spill-over effects from increased inter-linkages with the crypto asset markets," IOSCO said. Some mainstream financial institutions, including Nasdaq, are making a push into tokenization, but other Wall Street players have raised concerns. EFFICIENCY GAINS 'UNEVEN' For years, various financial institutions have experimented with issuing blockchain-based versions of assets. Commercial interest in tokenization is rising, but actual adoption is still "limited", IOSCO said. Promoters of tokenized assets say that using blockchain can cut trading costs, speed up settlement, facilitate around-the-clock trading and even attract younger investors. But IOSCO said that "efficiency gains are uneven" as market participants still need to use traditional market infrastructure for the trading processes, rather than replacing it with blockchain. "Issuers do not tend to publicly disclose actual quantifiable efficiency gains, if any," IOSCO said. https://www.reuters.com/sustainability/boards-policy-regulation/global-securities-watchdog-says-tokenization-creates-new-risks-2025-11-11/
2025-11-11 07:58
BEIJING, Nov 11 (Reuters) - China's carbon dioxide emissions were flat year-on-year in the third quarter, extending a now 18-month streak of flat or falling emissions, an analysis for climate publication Carbon Brief found. The trend, which started in March 2024, means CO2 emissions could fall this year in the absence of any year-end spike, showed the analysis by Lauri Myllyvirta of Helsinki-based Centre for Research on Energy and Clean Air. Sign up here. CO2 output rose 0.8% in 2024 after a post-pandemic rebound at the start of the year, a previous Carbon Brief analysis found. The government in September pledged to cap its carbon emissions by 2030 and, by 2035, reduce them by 7% to 10% from that as-yet unknown peak. That commitment was China's first to reduce emissions, though the scale of the cuts fell short of broader expectations. The EU climate commissioner called it "disappointing". The U.S. pullback from international climate agreements under President Donald Trump has created an opening for China to play a greater role in the matter, including at the U.N. COP30 climate summit in Brazil, which began on Monday. Flat emissions in the third quarter of 2025 came as rising chemical sector emissions offset declines or plateaus elsewhere. Transport emissions fell 5% and power-sector emissions were flat in the third quarter, even as electricity demand grew 6.1%, the analysis found. Electricity generation from wind, solar, nuclear and hydropower covered some 90% of that increase in demand. Gas-fired generation also cut into coal's share. But growth in the chemical industry kept overall emissions from falling. Plastic production grew 12% on the year in January-September, driven by surging domestic demand for plastic in food delivery and e-commerce. China has also ramped up domestic production of polyethylene, the most widely used type of plastic, in response to the trade war with the U.S., the analysis said. The government has also encouraged refineries to shift to chemical production to make up for a drop in transport fuel demand amid a widespread shift to electric vehicles. https://www.reuters.com/sustainability/climate-energy/chinas-co2-emissions-havent-risen-18-months-analysis-finds-2025-11-11/
2025-11-11 07:32
Lukoil declares force majeure at Iraqi oilfield amid sanctions U.S. government shutdown resolution boosts demand expectations Saudi Arabia, Iraq, Kuwait to supply more oil to India NEW YORK, Nov 11 (Reuters) - Oil prices gained about $1 on Tuesday on the impact of the latest U.S. sanctions on Russian oil and the optimism over a potential end to the U.S. government shutdown, although oversupply concerns limited gains. Brent crude futures settled $1.10, or 1.72%, higher to $65.16 a barrel. U.S. West Texas Intermediate crude climbed 91 cents, or 1.51%, to settle at $61.04 a barrel. Sign up here. Investors continued to assess the fallout from the U.S. sanctions on Russia, and their impact on both crude oil and refined fuel markets. Russia's Lukoil (LKOH.MM) , opens new tab declared force majeure at an Iraqi oilfield it operates, sources told Reuters on Monday, marking the biggest fallout yet from the sanctions imposed last month. Restricted fuel exports due to the sanctions are propping up oil prices in the face of a crude oil glut, PVM analyst Tamas Varga said. "Fresh U.S. sanctions on major Russian oil producers and exporters are weighing on product exports," Varga said. As a result, heating oil and gasoline are moving in a different direction from crude. Middle Eastern producers Saudi Arabia, Iraq and Kuwait will raise crude oil supplies to India in December as Indian refiners seek alternatives to Russian barrels, sources at four Indian refiners said on Tuesday. The markets also saw support as the longest government shutdown in U.S. history could end this week after the Senate approved a compromise that would restore federal funding. "The optimism around the government reopening is increasing demand expectations," said Phil Flynn, senior analyst for Price Futures Group. The Republican-controlled House of Representatives is due to vote on the deal Wednesday afternoon. However, worries about crude oversupply are curbing price gains. Earlier this month, OPEC+ agreed to increase December output targets by 137,000 barrels per day, but also agreed to a pause in increases in the first quarter of next year. "The oil market is also facing a considerable oversupply in the coming year, which is why prices are likely to remain under pressure. The main cause of the oversupply is the significant expansion of supply by OPEC+," Commerzbank analysts said in a note. OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has added 2 million bpd of output since April, and a willingness within the group to reverse voluntary production cuts further after the first quarter pause could add an extra 1 million bpd in the coming year, Commerzbank said. https://www.reuters.com/business/energy/oil-retreats-oversupply-worries-2025-11-11/
2025-11-11 07:21
Nov 11 (Reuters) - Sterling fell on Tuesday, after data showed British unemployment rose, while annual wage growth slowed slightly to 4.6% in the three months to September compared with a year earlier. The Bank of England is closely watching pay growth for signs of how persistent domestic inflation pressures are likely to prove. Sign up here. The pound was last down 0.39% to $1.31205 , while the euro rose 0.36% to 88.03 pence . https://www.reuters.com/world/uk/sterling-drops-after-uk-jobs-wages-data-2025-11-11/
2025-11-11 06:56
SEOUL, Nov 11 (Reuters) - A South Korean team demolished two towering structures with explosives on Tuesday in a bid to clear the way to recover two workers who are presumed dead and two others missing in the rubble of a collapsed industrial facility. They were among nine who were working on the massive steel structure, a decommissioned heating facility, at a power station in the city of Ulsan to weaken its base to prepare for demolition when it collapsed five days ago. Sign up here. Two workers were quickly rescued but seven others were trapped in the mangled rubble which was considered unstable and posed the risk of further collapse, hampering rescue efforts. The bodies of three workers have since been retrieved. The two other structures next to the collapsed tower, which were about 60 metres (66 yards) tall and remained standing, were assessed as too unstable to allow rescuers to use heavy machinery, further slowing the recovery operation. The structures collapsed within seconds after the explosives were detonated in a cloud of smoke and debris, footage of the demolition showed. Labour Minister Kim Young-hoon was quoted in local media as saying there will be a criminal investigation into the collapse once recovery work is complete. https://www.reuters.com/world/asia-pacific/south-korea-rescuers-use-explosives-reach-workers-trapped-collapsed-building-2025-11-11/
2025-11-11 06:51
JOHANNESBURG, Nov 11 (Reuters) - South African food producer Premier Group on Tuesday posted a 27.9% rise in half-year profit and announced a share repurchase programme to keep its financial structure in good shape ahead of its transaction with RFG Holdings (RFGJ.J) , opens new tab. The maker of Blue Ribbon bread and Snowflake flour, reported a headline earnings per share - the main profit measure in South Africa - of 560 cents for the six months ended September 30, while operating profit rose 17% to 1.1 billion rand ($63.54 million). Sign up here. Profit growth was supported by improved efficiencies and margin expansion across both major divisions, Premier said. Group revenue growth was moderate against deflation in global grain prices, including maize and rice. It rose by 6.4% to 10.3 billion rand, with its millbake business which makes maize, bread and flour rising by 6%, the company said. Premier said the repurchase is primarily driven by strong free cash flow generation over recent financial periods and aligns with its disciplined capital allocation framework. Shares will be repurchased at up to 154 rand apiece, the reference price used in the RFG transaction. Premier said it will monitor market conditions and trading volumes, and may pause, cancel or adjust the programme at any time. Last month Premier agreed to acquire all the shares of RFG, which makes Rhodes canned food and Bull Brand corned meat, through a share swap deal valued at about 5.7 billion rand, in which RFG shareholders will take a 22.5% stake in the combined group. It also declared a once-off interim dividend of 159 cents per share as a result of the proposed RFG transaction. Premier normally does not declare an interim dividend. The final dividend will be reduced by the once-off interim dividend, Chief Financial officer Fritz Grobbelaar said in a media call. ($1 = 17.3125 rand) https://www.reuters.com/world/africa/south-africas-blue-ribbon-bread-maker-premiers-profit-jumps-2025-11-11/
