2025-10-15 03:30

MUMBAI, Oct 15 (Reuters) - Cryptocurrency exchange Coinbase Global (COIN.O) , opens new tab said on Wednesday it had made an investment in CoinDCX, which the Indian crypto exchange said values it at a post-money valuation of $2.45 billion. Coinbase Global's investment follows multiple rounds of investment in the Indian exchange by the firm's venture capital arm, Coinbase Ventures. Sign up here. In April 2022, Coinbase Ventures participated in a $135 million fundraise for CoinDCX, which had valued the firm at $2.15 billion post-money. As of July 2025, CoinDCX's annualized group revenue stood at about $141 million, while its overall assets under custody were at $1.2 billion. "We believe India and its neighbors will help shape the future of the global on-chain economy. This transaction is subject to regulatory approvals and other customary closing conditions," Shan Aggarwal, chief business officer at Coinbase, said in a statement announcing the investment. https://www.reuters.com/world/india/coinbase-invests-indian-crypto-exchange-coindcx-245-billion-valuation-2025-10-15/

2025-10-15 00:05

MEXICO CITY, Oct 14 (Reuters) - Mexican telecoms giant America Movil (AMXB.MX) , opens new tab on Tuesday reported a more than threefold jump in third-quarter profit, in line with analysts' expectations, helped by a sharp drop in financing costs and increased mobile revenues. America Movil, controlled by the family of Mexican billionaire Carlos Slim, cited a reduction of around half its financing costs compared to the same quarter last year after it booked a foreign-exchange gain versus an exchange loss. Sign up here. The group, which operates across Latin America, the Caribbean and parts of Europe, reported a net profit of 22.7 billion Mexican pesos ($1.24 billion) from revenues that rose 4.2% year-on-year to 232.92 billion Mexican pesos - in line with forecasts of analysts polled by LSEG. The firm logged earnings per share of $0.40, also in line with analysts' forecasts. Earnings before interest, taxes, depreciation and amortization (EBITDA) also performed broadly as expected, landing at 93.8 billion Mexican pesos. Mexico's peso strengthened 7% in the 12 months through the end of September, and just over 2% in the quarter. America Movil added just over 3 million postpaid mobile clients and logged its strongest mobile service revenue growth in more than a year, up 7%. Its fixed segment added some 526,000 connections, largely in its home market of Mexico. "We expect markets to receive the results well," JPMorgan said in a note, citing gains in Mexico's prepaid business and margin expansion in Chile, Paraguay and Uruguay. The broker said the positive view was driven by strength in Mexican mobile, a key contributor to free cash flow. America Movil has signaled expansion plans this quarter, including a potential acquisition of Telefonica’s Chilean assets in partnership with local telecom firm Entel, and possibly buying Brazilian internet provider Desktop DESK3.SA. ($1 = 18.3147 Mexican pesos at end-September) https://www.reuters.com/business/media-telecom/america-movil-posts-threefold-jump-q3-profit-2025-10-14/

2025-10-15 00:01

NEW YORK, Oct 14 (Reuters) - A California judge on Tuesday sided with the state government and tentatively ruled against Houston-based oil company Sable Offshore's (SOC.N) , opens new tab request to restart a pipeline that pulls crude from the Santa Ynez offshore oil project. The tentative ruling from Judge Thomas Anderle in the Superior Court for Santa Barbara County marks a major setback for Sable, whose business is entirely focused on the Santa Ynez project. Its shares fell over 20% to about $14 each in extended trading. Sign up here. The company in May restarted production from one of the three offshore platforms in that project, nearly a decade after it was shut due to an oil spill under previous owner Exxon Mobil (XOM.N) , opens new tab. Sable also repaired the Las Flores subsea pipeline that pulls crude from the offshore platform, in the hopes of selling the oil to refiners in the state, but the California Coastal Commission blocked its restart citing issues with Sable's permits. Sable petitioned the Santa Barbara Superior Court and argued the Coastal Commission did not have the authority to issue the cease and desist order. However, the company failed to meet its burden to prove the commission had abused its discretion, Anderle wrote in his tentative ruling. Anderle will hold a hearing on Wednesday before finalizing the decision. Meanwhile, Sable is expected to change strategies for marketing the crude oil from the Santa Ynez platform. The company last week said delays in the restart of the Las Flores pipeline system will make it fully pivot to using tankers to shuttle crude from Santa Ynez instead of the pipeline. Sable has sought support from the federal government for the tanker pathway and last week submitted an updated development and production plan for Santa Ynez detailing that route to the U.S. Department of the Interior's Bureau of Ocean Energy Management, the company said in its filing. https://www.reuters.com/business/energy/california-judge-blocks-efforts-restart-santa-ynez-oil-pipeline-2025-10-14/

2025-10-14 23:44

IMF's Georgieva says world is continuing to trade Agile firms, lower effective US tariff rates boost growth Georgieva says AI 'very big bet', could pay off in productivity gains WASHINGTON, Oct 14 (Reuters) - Decisions by most countries to not retaliate against U.S. President Donald Trump's tariffs are among the top factors bolstering the global economy's resilience, IMF Managing Director Kristalina Georgieva said on Tuesday. "The world, so far, and I cannot stress enough, so far, has opted not to retaliate and to continue to trade pretty much on the rules that have existed," Georgieva said during an event at the IMF and World Bank annual meetings in Washington, noting that this avoided debilitating tariff escalation. Sign up here. Earlier on Tuesday, the fund had edged up its 2025 global GDP growth forecast in its World Economic Outlook to 3.2% from a 3.0% forecast in July, but warned that a renewed U.S.-China trade war threatened by Trump could slow output significantly. Also supporting global growth is that the effective U.S. tariff rate has come down from prior estimates, Georgieva told the Bretton Woods Committee event. After calculating that Trump's tariffs announced in April would average 23%, the rate was reduced by U.S. trade deals with the European Union, Japan and other major partners to about 17.5%, she said. "The effective tariff, though, what is being collected when you get exceptions to accommodate the need for the economy to function well, we calculate them somewhere between 9% and 10% so the burden is more than twice less than we thought it would be," she added. Other factors propping up the global economy have been better policies by countries to boost private sector development and more efficient allocation of resources, as well as agility by companies to avoid the worst effects of the tariffs, by front-loading imports and quickly rearranging supply chains. However, she said the resilience could also be tested by the stretched valuations in global markets - especially the tech sector, which has fueled a stellar market rally this year. "This is a bet, very big bet," she said. "If it pays back, fantastic, then our problem with low growth is gone, because we will see increase in productivity and we will see an increase in growth. What if it is either slow to come true or doesn't quite materialize. What then?" IMF chief economist Pierre-Olivier Gourinchas told Reuters earlier that the AI investment boom could lead to a bust similar to the dotcom crash in 2000 that burns equity investors, but that it would not likely result in a systemic crisis because it has not been heavily funded by debt. https://www.reuters.com/business/imf-chief-says-lack-retaliation-against-trump-tariffs-aiding-global-growth-2025-10-14/

2025-10-14 23:04

LONDON, Oct 15 (Reuters) - Britain must urgently prepare for global warming of at least 2 degrees Celsius above pre-industrial levels by 2050, its climate advisers said on Wednesday, warning the country is ill-prepared for extreme weather that is already occurring. Britain this year experienced its warmest summer since records began, which impacted health, agriculture and infrastructure with droughts declared in several regions. Sign up here. "It is clear we are not yet adapted for the changes in weather and climate that we are living with today, let alone those that are expected over coming decades," the Climate Change Committee wrote in a letter to the government in response to a request for advice from an environment minister. The CCC outlined six critical areas: public health, food security, infrastructure resilience, protection of cities and towns from extreme weather disruption, maintenance of public services and climate-resilient economic growth. Most governments promised under the 2015 Paris Agreement to try to prevent the average global temperature rise from exceeding 1.5 degrees Celsius above pre-industrial levels. But scientists have been surprised by how quickly changes are unfolding, with average global temperatures already having warmed by 1.3-1.4 degrees Celsius above the pre-industrial average, according to data from U.N. and EU science agencies. "We continue to believe that (limiting the rise to) 1.5 degrees is achievable as a long-term goal, but clearly the risk that it will not be achieved is getting higher," Julia King, chair of the CCC's Adaptation Committee told a press briefing. The group cautioned that global warming of 4 degrees Celsius by century's end cannot be ruled out and said this should be factored into plans for building homes and infrastructure in order for them to withstand the next 75 to 100 years. https://www.reuters.com/sustainability/cop/britain-must-urgently-prepare-hotter-temperatures-climate-advisers-warn-2025-10-14/

2025-10-14 22:58

Oct 15 (Reuters) - A network overload and the residual effects of previous Russian attacks triggered blackouts in Kyiv and other Ukrainian regions late on Tuesday, officials said. Water pressure was also affected in parts of the capital. Sign up here. The Kyiv City State Administration, writing on the Telegram messaging app, said the overload had caused a problem in one of the capital's energy sites. Power was cut in three central Kyiv districts on the west bank of the Dnipro River running through the city. The Kyiv metro was temporarily forced to rely on reserve power to keep operating. The administration later said emergency crews had restored power to affected areas, though outages were still being reported. It said water pressure would be restored to normal levels within two to three hours. Ukrenergo, which operates Ukraine's high-voltage lines, said lingering problems from Russian attacks on the energy system had triggered outages in regions across northern, central and southeastern Ukraine. "The aftermath of Russian attacks on energy facilities continues to be addressed in all regions affected by the shelling," Ukrenergo said on Telegram. Russian attacks in recent weeks have concentrated on energy targets. A wave of strikes on Kyiv and other areas last week left more than a million households and businesses temporarily without power across the country. https://www.reuters.com/business/energy/network-overload-triggers-blackouts-kyiv-other-ukrainian-regions-2025-10-14/