Money
Europe proposes a fuel tax on aviation industry to push green energy
Aviation can no longer fly under the radar using polluting jet fuel with proposed tax levy in EU
The European Commission has drafted plans to set an EU-wide minimum tax rate for polluting aviation fuels. This comes as the EU comes under increasing pressure to set more ambitious climate targets.
The aviation industry is currently exempt from fuel taxation charges in the EU. However, the European Commission has found this exemption “is not coherent with the present climate challenges and policies”.
The minimum tax rate would come into effect in 2023, increasing gradually over a 10-year period. Reuters reports that the draft document didn’t specify the final tax rate.
How difficult would it be to introduce the proposal?
Changes to EU tax rates require unanimous support from 27 countries, so passing the bill could be potentially difficult. If one state doesn’t agree, the whole proposal cannot pass.
The taxes wouldn’t be imposed on sustainable fuels, such as renewable hydrogen, e-kerosene and biofuels. The tax would be based on how polluting the energy source is.
Uptake of green fuels has been hampered by high costs. Sustainable aircraft fuel makes up less than 1% of Europe’s jet fuel consumption.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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