Real-time News

The European-Mediterranean Seismological Centre reported that a 5.6-magnitude earthquake struck 13 kilometers southeast of Karpathos, Greece, 3 minutes ago.

Market news: Faraday Copper will acquire BHP Billiton's St. Manuel mining assets in Arizona, USA.

Bank of Montreal: Raised its price target for Southwest Airlines (LUV.N) from $45 to $58.50. Raised its price target for United Airlines (UAL.O) from $130 to $157.50. Raised its price target for American Airlines (AAL.O) from $13.50 to $19.50. Raised its price target for Delta Air Lines (DAL.N) from $80 to $105.

Investment bank DA Davidson raised its price target for Palantir (PLTR.N) from $165 to $175.

India's Petroleum Minister: From April to June, national fuel retailers lost nearly 1.45 trillion rupees in diesel sales revenue.

India's Petroleum Minister: From April to June, national fuel retailers suffered a revenue loss of 199 billion rupees on gasoline sales.

July 2 – Nigeria became the first OPEC member to join the International Energy Agency (IEA) as an associate member, deepening the link between the global energy regulator and Africa’s largest oil producer. This move brings a nation of over 240 million people into the IEA’s network. Nigeria is a major oil and gas exporter, but its domestic energy challenges remain significant, including limited power supply and reliance on heavily polluting cooking fuels. Nigeria is seeking to expand its influence by increasing refining capacity and fuel exports, while the IEA aims to expand its influence among major emerging energy players.

India's oil minister said India's refining capacity is expected to increase to 309.5 million tons per year by 2030.

Wells Fargo raised its price target for Meta Platforms (META.O) to $767 from $765. It raised its price target for Amazon (AMZN.O) to $313 from $312. It lowered its price target for Alphabet (GOOGL.O) to $416 from $435.

Deutsche Bank CEO: (Regarding German reforms) The task now is to maintain this momentum.

Deutsche Bank CEO: (Regarding German reforms) This is a decisive first step, supporting our call for reforms to drive growth, competitiveness, and innovation.

July 2 – A conference on Party building in the financial system was held in Beijing from July 2 to 3. He Lifeng, member of the Political Bureau of the CPC Central Committee and Secretary of the Central Financial Work Committee, attended the meeting and delivered a speech. He emphasized the need to solidly and effectively advance key tasks of Party building in the financial system, continuously strengthen the Party's political construction, and deepen the application of the Party's innovative theories. He stressed the importance of improving the Party building management system and mechanisms within the financial system, further streamlining the Party building management system of local financial institutions, and strengthening the development of the financial cadre and talent pool. He also emphasized deepening the rectification of issues identified in the central inspection and audit, advancing the fight against corruption and misconduct in a thorough manner, focusing on correcting the "four forms of undesirable work style," and maintaining a high-pressure stance against corruption. Furthermore, he stressed the need to consolidate and deepen the study and education on establishing and practicing a correct view of performance, focusing on key financial work in the second half of the year, enhancing the sense of responsibility and urgency, continuously promoting the prevention and resolution of financial risks, strengthening financial supervision, and fully supporting high-quality economic and social development, providing strong financial support for achieving the annual economic goals and a good start to the "15th Five-Year Plan."

United Therapeutics acquired biotechnology company Thymmune Therapeutics for $140 million in cash.

The China Earthquake Networks Center officially reported that a magnitude 3.0 earthquake struck Artux City, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang, at 18:20 on July 2nd, with a focal depth of 19 kilometers.

July 2nd - On July 1st, the National Energy Administration held a special meeting in Beijing on the exploration and development of deep coalbed methane. The meeting emphasized that ensuring national energy security should be the core task, and that the exploration and development of deep coalbed methane should be vigorously promoted to continuously strengthen the foundation of energy supply. The meeting stressed the importance of implementing relevant plans. The "15th Five-Year Plan" for coalbed methane (coal mine gas) development and utilization and the action plan for increasing reserves and production in key areas were issued and implemented, detailing tasks to each enterprise and coalbed methane block, increasing investment in exploration and development, and accelerating the construction of key projects.

Italian oil company Eni: RH3OVA provides a one-stop service covering the entire life cycle of fusion fuel, including from early feasibility studies to project deployment and operational support.

Italian oil company Eni: The UK Atomic Energy Authority (UKAEA) has formed a joint venture with Eni to provide capability support for the fusion energy industry. The joint venture, RH3OVA, will provide professional consulting and operational services to the evolving global fusion energy industry.

On July 2nd, Democratic Senator Elizabeth Warren demanded that Federal Reserve Governor Mark Waller halt his efforts to comprehensively reform the operations of the Fed's 12 regional branches. Warren stated that Waller's proposed reform plan appears to be inconsistent with federal law and suggests it could undermine the Fed's independence. While Waller, as chair of the Federal Reserve Board's Committee on Federal Reserve Banking, possesses certain oversight powers, the regional branches are established as highly autonomous entities capable of controlling their day-to-day operations. Warren stated, "This is less a serious Fed reform plan and more like a carefully crafted scheme to appease President Trump, who wants more power over the regional branch presidents. I urge you to immediately halt this plan and provide Congress with more information."