2025-09-30 22:47

WELLINGTON, Oct 1 (Reuters) - The New Zealand government said on Wednesday that it would financially support investment by the country’s energy companies in critical electricity infrastructure. The government holds a 51% stake in the formerly state-owned generators Genesis Energy (GNE.NZ) , opens new tab, Mercury (MCY.NZ) , opens new tab and Meridian (MEL.NZ) , opens new tab. Energy prices have risen in New Zealand as supply has tightened, putting energy generators in the spotlight. Sign up here. Finance Minister Nicola Willis said in a statement that she had written to the three electricity generators to say that the government is prepared to support capital funding requests for strategic and commercially rational investments that support energy security. “Reliable and affordable energy is key to New Zealand’s prosperity,” she said. An independent review of the country’s electricity system found that the companies have faced constraints in their ability to invest in larger generation projects, because of a perception that the government would not provide equity injections to support those investments. Willis added the government was committed to retaining its 51% stake in the companies. The government also announced a procurement plan for a liquefied natural gas import facility and will strengthen the Electricity Authority to make it a “more powerful, decisive regulator.” https://www.reuters.com/sustainability/boards-policy-regulation/new-zealand-government-back-energy-firms-critical-infrastructure-investments-2025-09-30/

2025-09-30 22:34

CHICAGO, Sept 30 (Reuters) - Archived crop and livestock reports from the U.S. Department of Agriculture were set to transfer to a new government website on Wednesday with the agency's existing online archive, hosted by Cornell University's Mann Library, decommissioned, the USDA and a Cornell official said on Tuesday. The USDA's online Economics, Statistics and Market Information System, an archive of USDA reports dating to 1973, will move to the USDA's National Agricultural Library. Sign up here. Two reports released by the USDA on Tuesday -- its quarterly grain stocks and annual small grains reports -- said archived editions were stored on the legacy Cornell site. But a Cornell representative said the USDA reports would no longer be available from the Mann Library site starting on October 1. Many of the USDA's major market-sensitive reports, including its monthly World Agricultural Supply and Demand Estimates report, a key reference for the grains trade, had already moved on Tuesday to the new website , opens new tab. The new platform also includes reports from the USDA's National Agricultural Statistics Service on quarterly U.S. grain stocks, cattle on feed, and weekly U.S. crop progress reports, among other topics. With the prospect of a government shutdown looming on Tuesday, a USDA spokesperson did not comment specifically on whether the agency's new platform would remain accessible or would be among the services disrupted. Other USDA sub-agencies, including the Foreign Agricultural Service, the Economic Research Service and the Agricultural Marketing Service, will upload new reports to their respective websites, a note on the Cornell website said. USDA announced in April that it planned to migrate its report archives from Cornell's Mann Library and onto an alternative platform as a way to "modernize its processes," without detailing what that would entail. https://www.reuters.com/world/us/usda-migrates-data-archive-new-website-dropping-cornells-mann-library-2025-09-30/

2025-09-30 21:54

Sept 30 (Reuters) - The International Atomic Energy Agency is engaging with both sides of the military conflict to restore offsite power to Ukraine's Zaporizhzhia nuclear power plant as soon as possible, the U.N. atomic watchdog's chief Rafael Grossi said on Tuesday in a statement. Ukrainian President Volodymyr Zelenskiy had earlier said the situation at the Russian-occupied Zaporizhzhia nuclear power station had become critical, with Russian shelling preventing restoration of power needed to cool the reactors and prevent a meltdown. Sign up here. https://www.reuters.com/business/energy/iaea-working-restore-power-ukraines-zaporizhzhia-nuclear-plant-grossi-says-2025-09-30/

2025-09-30 21:44

Shares rise 23% in Wednesday trading Deal is part of US government efforts to boost domestic supplies Canada's government to review investment China is the world's dominant refiner of lithium Oct 1 (Reuters) - The U.S. Department of Energy has taken a 5% stake in Lithium Americas (LAC.TO) , opens new tab and a separate 5% stake in the company's Thacker Pass joint venture with General Motors (GM.N) , opens new tab that is set to be the largest lithium source in the Western Hemisphere. The deal, announced by Lithium Americas, marks the latest private sector investment by U.S. President Donald Trump's administration. It follows U.S. government acquisitions in Intel (INTC.O) , opens new tab and MP Materials (MP.N) , opens new tab, as the government attempts to boost industries it considers vital to national security. Sign up here. U.S.-listed shares in Lithium Americas jumped 23% to $7.03 in Wednesday trading. Last week, Reuters reported , opens new tab that administration officials were in discussions with Lithium Americas about an equity stake as they renegotiated the terms of a $2.26 billion government loan for the Nevada-based mining project. EXERCISE PRICE OF A PENNY The Vancouver-based company said it has finalized an agreement with the Energy Department to initiate the first $435 million draw from a previously announced $2.26 billion loan to support development of the Thacker Pass mine, which is under construction and set to open by 2028. The U.S. government will acquire the stakes via warrants with an exercise price of a penny. "We greatly appreciate the support of the administration, General Motors and our partners," Jonathan Evans, CEO of Lithium Americas, said. GM, which invested $625 million in the mine last year for a 38% stake, has the right to buy all of the project's lithium from its first phase and a portion from the second phase for 20 years. "We're confident in the Thacker Pass project, which will reduce U.S. dependence on imported lithium and can support domestic manufacturing across many industries," said Shilpan Amin, who oversees GM's supply chain procurement. Administration officials had initially sought a guarantee that GM would buy the metal regardless of market conditions, a request the automaker rebuffed and that led to the equity stake request, Reuters previously reported. Because Lithium Americas is based in Vancouver, Canada's government said it will review the deal as part of a standard process tied to the Investment Canada Act, which allows Ottawa to approve or reject mergers and acquisitions based on their net benefit to the country. "The government welcomes foreign direct investment that benefits Canada's economy. As part of this process, reviews of foreign investments in critical minerals will be conducted in the best interests of Canadians," a spokesperson for the government's Ministry of Innovation, Science and Economic Development told Reuters. As part of the deal with Washington, GM will allow Lithium Americas to sell unallocated future lithium production to other parties. Lithium Americas has also agreed to fund a loan reserve account with $120 million within 12 months of the first draw on the loan. Republicans and Democrats alike have touted the Thacker Pass project as a way to boost U.S. critical minerals production and cut reliance on China, the world's largest lithium processor. China produces more than 40,000 metric tons each year, making it the third-largest producer after Australia and Chile. In refining, its influence is far greater as it processes over 75% of the world's lithium into battery-grade material. The U.S. produces less than 5,000 metric tons of lithium at a Nevada facility owned by Albemarle (ALB.N) , opens new tab. Thacker Pass's first phase is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year, enough for up to 800,000 EVs. https://www.reuters.com/business/autos-transportation/us-government-take-5-stake-lithium-americas-joint-venture-with-general-motors-2025-09-30/

2025-09-30 20:59

Indexes close up: Dow 0.18%, S&P 500 up 0.41%, Nasdaq 0.31% Of 11 major S&P 500 industry sectors, 4 close in the red Health sector gains led by Pfizer after deal with Trump Airline sector sells off as government shutdown disruptions loom Firefly Aerospace shares tumble after rocket test mishap NEW YORK, Sept 30 (Reuters) - Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500 (.SPX) , opens new tab, the tech-heavy Nasdaq (.IXIC) , opens new tab and the Dow (.DJI) , opens new tab all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly gain. Sign up here. And with no signs of an end to the standoff in Washington, U.S. President Donald Trump warned congressional Democrats that a federal government shutdown at midnight would allow his administration to take "irreversible" actions including shutting down programs important to them. While previous shutdowns have had a limited impact on markets, some analysts warned that this time could be more disruptive, given the delicate economic backdrop. Earlier on Tuesday, a Labor Department report showed job openings increased marginally in August, while hiring and layoffs declined. Another data point showed U.S. consumer confidence declined more than expected in September. The latest jobs data did not suggest significant job losses, but Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, said, "it's a very balanced market that could be tipped either way very quickly." He said the market's leadership mix of defensive sectors such as healthcare (.SPXHC) , opens new tab and consumer staples (.SPLRCS) , opens new tab along with more cyclical sectors such as industrials (.SPLRCI) , opens new tab showed a lack of "significant conviction directionally." "Maybe there's some position-squaring in advance of the prospect of a government shutdown," Luschini said. "Were that to occur, and last beyond Friday, we'll start to accumulate significant economic data such as the jobs report on Friday that won't be released. That leaves investors a little bit in the shadows with regard to what's going on on the ground." The Dow Jones Industrial Average (.DJI) , opens new tab rose 81.82 points, or 0.18%, to 46,397.89, marking its latest record closing high. The S&P 500 (.SPX) , opens new tab gained 27.25 points, or 0.41%, to 6,688.46 and the Nasdaq Composite (.IXIC) , opens new tab gained 68.86 points, or 0.31%, to 22,660.01. For the month the S&P 500 gained 3.53%, for its biggest September percentage gain since 2010 while for the quarter it gained 7.79%, for its biggest third-quarter gain since 2020. For the quarter, the Nasdaq rose 11.24%, for its biggest third-quarter gain since 2010 and the Dow climbed 5.22%. For the month the Nasdaq rose 5.61%, and the Dow climbed 1.87%, for its biggest September gain since 2019. Among the S&P 500's 11 major industry sectors, healthcare was the leader, adding 2.45%. Its biggest gainer was Pfizer (PFE.N) , opens new tab, which rallied 6.8% after Trump said it will cut the price of all prescription drugs in the Medicaid program for low-income Americans and sell new prescription drugs at a "most favored nation" price in exchange for tariff relief. Helping other healthcare stocks to rally, Trump also said he expects other drugmakers to follow suit. The Dow Jones Transportation Average Index (.DJT) , opens new tab fell 0.4%, with airlines leading declines due to the government shutdown threat. A group representing major U.S. airlines had warned on Monday that a partial federal government shutdown could strain American aviation and slow flights, as air traffic controllers and security officers would be forced to work without pay and other functions would be halted. Southwest Airlines (LUV.N) , opens new tab shares fell 2.6% while United Airlines (UAL.O) , opens new tab lost 2.2%. In preparation for the shutdown, the U.S. Transportation Department said that more than 11,000 employees at the Federal Aviation Administration, about a quarter of its staff, will be furloughed if government funding lapses at midnight, while more than 13,000 air traffic controllers would be required to keep working unpaid until the shutdown ended. Earlier in the day, Fed Vice Chair Philip Jefferson warned that the job market could face stress without central bank support, while Boston Fed President Susan Collins said she was open to additional rate cuts. In individual stocks, chipmaker Wolfspeed (WOLF.N) , opens new tab surged 29% a day after exiting bankruptcy. Firefly Aerospace (FLY.O) , opens new tab shares sank 20.7% following a testing mishap that destroyed the core booster for its centerpiece Alpha rocket. Lamb Weston (LW.N) , opens new tab shares rose 4.3% after the frozen-potato products maker beat analysts' estimates for first-quarter revenue and profit. Advancing issues outnumbered decliners by a 1.27-to-1 ratio on the NYSE where there were 352 new highs and 87 new lows. On the Nasdaq, 2,324 stocks rose and 2,367 fell as declining issues outnumbered advancers by a 1.02-to-1 ratio. The S&P 500 posted 48 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 104 new highs and 85 new lows. On U.S. exchanges 18.56 billion shares changed hands on Tuesday, compared with the 18.38 billion moving average for the last 20 sessions. https://www.reuters.com/business/wall-street-futures-fall-investor-jitters-over-looming-government-shutdown-2025-09-30/

2025-09-30 20:50

Sept 30 (Reuters) - Blue Whale Materials said on Tuesday it has started commissioning its Bartlesville, Oklahoma, lithium-ion battery recycling facility and expects to have it fully operational within a year. The facility is one of several under development in Oklahoma, the rural U.S. state aiming to the epicenter for U.S. critical minerals processing, which Reuters reported earlier this year. Sign up here. Privately held Blue Whale's facility will be able to process 14,000 metric tons per year of battery manufacturing scrap and end-of-life batteries into roughly 8,000 to 9,000 metric tons per year of black mass, essentially shredded battery parts that can be broken down further into cobalt, nickel and other critical minerals. The company has separately received a $55 million grant from the U.S. Department of Energy to fund an expansion project for the site that aims to boost capacity to 50,000 metric tons per year within four years. https://www.reuters.com/business/energy/blue-whale-materials-starts-commissioning-oklahoma-battery-recycling-facility-2025-09-30/