The Global Economics

The Global Economics is a quarterly print and online magazine which provides insights on the financial industry in the global market.

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Asia, led by China, is expected to buy 70% of Canadian crude oil exports after the country's only pipeline that ​provides access to the continent expands its capacity by a ‌third by the end of 2028.

[The Global Economics @TgeAwards]

#China EV maker BYD expects overseas shipments to exceed 2.5 million vehicles in 2027. BYD ⁠management guided overseas shipments to reach 1.9 million to ​2 million vehicles in 2026, nearly double last year's level.

[The Global Economics @TgeAwards]

#RioTinto has agreed to acquire the Aurukun Bauxite Project in Western Cape York, Queensland​, from a joint venture between London-listed Glencore and Mitsubishi Development.

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TerraPower, the US nuclear developer backed by Bill ‌Gates, expects its Natrium reactors to begin generating electricity in Britain by 2034, making the #UK its first market outside the #US.

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#France's state-owned electric utility EDF is in talks to acquire electricity ​supplier So Energy, which is majority ‌owned by Irish company ESB. The acquisition would ​expand EDF's already large footprint in ​Britain, where it supplies around 5 million customers with electricity

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Liquid Network, a #Bitcoin-based payments and settlement ​network, said ‌that $320 million was withdrawn from its federation wallet ​in a hack. Purported ​white-hat hackers" withdrew around 4,000 ⁠of the 4,200 ​bitcoin held in its Liquid ​Federation wallet, the company said.

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#Norway's Norges Bank Investment Management has recommended reducing its weighting to government bonds within its benchmark bond index to 50% from 70%, with #US Treasuries, the biggest holding, getting the biggest cut.

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#UK car sales rose about ​13% to more than 90,000 ‌in August, the highest number for the month in eight years. The ​market share of battery EVs rose to 30% ​in August. The market share for 2026 ​stood at 26%.

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Ethio Telecom expects revenue to jump by 36.7% by June 2027, with the total revenue projected to increase to 295 billion Ethiopian ​birr ($1.83 billion), driven by surges in data ⁠traffic, customer numbers and network expansion. #Ethiopia

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Cloud data platform Snowflake's shares surged over 24% after it lifted its fiscal 2027 product revenue forecast to $6.07 billion from $5.84 billion and posted a 37% jump in Q2 product revenue.

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Britain's EnQuest narrowed ​its annual ‌output forecast towards, ⁠blaming ​a five-week ​outage at its Magnus field ​caused ​by a third-party ‌infrastructure ⁠disruption, even as the North ​Sea-focused oil producer swung ​back to ​half-year ⁠profit. #UK

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South Africa's #Aspen ​Pharmacare reported a 22% rise in normalised ​earnings, supported ​by strong momentum ⁠in its commercial ​pharma unit, ​which was the main driver of growth ​in the ​reporting period.

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#UK government bond yields hit fresh 18-year highs, tracking a broad global ​sell-off after the latest escalation of the #IranWar‌. The yield on 10-year gilts rose to its highest since ​June 2008 and hit 5.268%,up ​about 4 basis points on the day.

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Global bonds sold off sharply on Wednesday, extending a rout that is raising borrowing costs to multi-decade highs as the #IranWar‌ pushes up energy prices, playing into investor fears about inflation and ballooning government debt.

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#China's EV maker BYD reported rising global sales for the ​fourth straight month, as robust exports continued to ‌cushion the impact of sluggish domestic demand. Total sales climbed 17.8% from 2025 to 440,293 vehicles in August, while exports ​jumped 134.5% to 189,466 vehicles.

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Swiss private ​equity heavyweight Partners Group reported a net half-year profit of 502 million Swiss ​francs ($620 million), down 13% ​year-on-year, following turmoil around its open-ended ⁠funds that hit shares. #Switzerland

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#Adobe has expanded its tie-up with #SaudiArabia's Ministry of ​Communications and Information Technology and Saudi government-backed ‌AI firm #Humain to provide citizens with 12 months of free access to its AI-powered tools.

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Oil prices rose more than 3.5% after #US attacked an Iranian island in the Strait of Hormuz and Tehran said it had retaliated. Brent crude futures were up $3.15, or 3.58%, to $91.25 a barrel, while US ​West Texas Intermediate crude was up $2.96, or 3.55%, to $86.36.

[The Global Economics @TgeAwards]

French chip materials maker Soitec is locking customers into multi-year supply agreements with deposits and fixed pricing ‌as demand surges for the wafers used in AI data centre optics.

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#Gap's shares rose about 14% after the apparel retailer named industry veteran Michael Francis as CEO of Old Navy, a ​move aimed at reinvigorating the brand in a challenging spending environment.