Money
Shell pulls out of Cambo oil field development
Oil giant Shell has pulled out of the Cambo oil field development causing mixed reaction by business leaders around the world
Shell has pulled out of the controversial Cambo oil field development west of Shetland – which the oil giant has a 30 percent stake in the project.
The oil giant stated that it had conducted “comprehensive screening” prior to concluding that the economic case for investment in the North Atlantic project was “not strong enough.”
The field could produce up to 170m barrels of oil equivalent and 53.5bn cubic feet of gas over 25 years, according to Reuters.
Reports published from the Independent stated that the decision was welcomed by environmental groups including Greenpeace, which said the decision should mark the “death blow” for Cambo.
Environmentalists say new fossil fuel projects like Cambo are incompatible with action on climate change.
But business leaders have warned that thousands of oil and gas jobs could be at risk
Aberdeen’s Chamber of Commerce said a “premature” end to domestic production could see some areas suffer the fate of mining communities in the 1980s, despite Cambo’s majority stakeholder stating it still planned to take the project forward.
Siccar Point Energy is currently awaiting approval from the UK government to develop the field.
Why Cambo isn’t a good look for Shell:
Shell has been promising to transition away from fossil fuels and commit to renewable technologies such as Sustainable Aviation Fuel, which the company has been working with airlines to produce.
Taking on environmentalist group as well as the Scottish government for the right to drill for oil is not a good look for a company, especially following COP26.
The Cambo oil project is expected to hold hundreds of millions of barrels of oil – each of them worth some $70 at current prices.
Money
Australia’s inflation hits 3.8%: Budget decisions under pressure
Australia’s inflation hits 3.8%, raising concerns for households; Dr. Enticott discusses implications for everyday Australians and economic planning.
Australia’s inflation hits 3.8%, raising concerns for households; Dr. Enticott discusses implications for everyday Australians and economic planning.
Australia’s inflation has surged to 3.8%, sparking concern for households and businesses. Experts warn that rising prices could threaten financial stability if the government does not act in the upcoming budget.
Dr Steven Enticott from CIA Tax joins Ticker to break down what this inflation spike means for everyday Australians. He also explains why inflation above the Reserve Bank’s target band is particularly significant and how it affects economic planning.
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#AustraliaInflation #EconomicUpdate #Budget2026 #RBA #FinancialNews #BusinessImpact #HouseholdCosts #TickerNews
Money
Wall Street gains momentum amid tech and earnings surge
U.S. stocks rose Monday, driven by Oracle gains, as investors overlooked recent silver and bitcoin losses ahead of earnings week.
U.S. stocks rose Monday, driven by Oracle gains, as investors overlooked recent silver and bitcoin losses ahead of earnings week.
U.S. equities climbed on Monday as Wall Street kicked off a new month of trading. Investors looked past recent losses in silver and bitcoin, with optimism returning to major indices. The S&P 500 rose 0.7%, led by gains in Oracle shares following the company’s announcement to raise up to £50 billion for cloud capacity.
The Dow Jones Industrial Average surged 501 points, while the Nasdaq Composite increased 0.9%. Analysts note that the broader market is showing resilience despite mixed signals from tech and commodities.
More than 100 S&P 500 companies are expected to report earnings this week. Strong growth is predicted, even as some high-profile sell-offs continue to make headlines.
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US dollar weakens as Trump comments; Australian dollar gains from commodity prices and RBA rate hike expectations
The US dollar is coming under pressure as the economy remains strong and President Trump comments on its decline. We explore how this is impacting major currencies around the world and what it means for investors.
Meanwhile, the Australian dollar is benefiting from rising commodity prices and growing expectations of an RBA rate hike. Global investors are increasingly drawn to Australia’s bond market as economic conditions shift.
Currency trading strategies are adapting to this changing landscape, with potential implications for interest rates and international markets. Steve Gopalan from SkandaFX breaks down the trends.
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#USDDollar #AustralianDollar #ForexTrading #RBA #InterestRates #GlobalEconomy #CurrencyMarket #Ticker
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