Southern Financial News

Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry

Legal respite: China Evergrande's court hearing deferred to Dec 4; judge gives last chance for resolution plan The property developer's dollar bonds last traded at about 2.25 cents on the dollar on Tuesday, according to LSEG data, as bondholders weigh the possible recoveries in the revised restructuring plan against other options like a winding up. A lawyer representing an ad hoc group of key bondholders told a Hong Kong court on Monday the restructuring plan could have a higher recovery rate for creditors than a liquidation scenario of less than 3%.

The Israel-Hamas war has plunged Israel’s agricultural heartlands into crisis

A power company’s plans for an enormous offshore wind farm off Virginia's southeast coast have received key federal approval

A former employee is suing to force a Mississippi utility to repay $382 million to the federal government

Danish energy developer Orsted is scrapping two large offshore wind power projects off the coast of New Jersey, adding uncertainty to a nascent industry the Biden administration is counting on to help transition away from the burning of planet-warming ...

The last American President who tried to finance a war along with a new Great Society was Lyndon Johnson. It ended in inflation and retreat in Vietnam. President Biden now wants Congress to help allies win two wars abroad, and deter a third over Taiwan, yet he wants to continue spending on everything as if nothing in the world has changed.

A Southern California registered representative and a broker-dealer executive on Monday lost an arbitration claim of a little more than $1 million in damages to an investor who bought GWG Holdings Inc. L bonds in 2018.

Iran said on Tuesday it was «natural» for Tehran-backed groups to attack Israel in light of its war on Hamas, warning of a wider spillover if no ceasefire is reached. The remarks were made by Iran's top diplomat Hossein Amir-Abdollahian in Qatar's capital Doha where he met with Emir Sheikh Tamim bin Hamad Al-Thani and his Qatari counterpart to discuss a push for a diplomatic breakthrough. «It is natural that the resistance groups and movements do not remain silent against all these crimes» committed by Israel, Amir-Abdollahian said in remarks relayed by Iran's foreign ministry. «They will not wait for anyone's advice, therefore we need to use the last political opportunities to stop the war,» he said after talks with Sheikh Tamim, warning the situation could «get out of control». Israel launched its assault in response to an unprecedented attack by Hamas on October 7 when its militants poured across the Gaza border, killing more than 1,400 people, mostly civilians, and taking more than 230 hostages, according to Israeli authorities.

Hanegbi said in a televised briefing on Tuesday there was «no deal in sight» for the release of hostages held in Gaza as Israel continues its ground invasion of the enclave. Hanegbi said attacks against Israel by the Houthi militant group in Yemen were «intolerable» but declined to elaborate when asked what an Israeli response might be. He said Egyptian hospitals should serve as an alternative for treating Gaza casualties, with hospitals in the enclave under pressure and suffering power cuts, but said Israel understood Egypt's concern about an influx of Palestinian refugees. Hanegbi said the Israeli military's focus was on fighting Hamas militants in northern Gaza, but that it would shift to the southern part of the strip at a later stage.

Dafna persevering under the threat of a new front opening in Israel's war with Hamas in Gaza. Here, a few hundred metres (yards) from south Lebanon, where Israeli foe Hezbollah holds sway, the spectre of another October 7 haunts civilians. Almost all of the 1,050 residents of this agricultural community were evacuated to hotels close to the nearby Sea of Galilee.

gold demand in India increased 10% year-on-year in the quarter to September to 210 tonnes due to lower prices. Much of this demand came from rural India which accounts for 60% of India’s annual consumption, which is pegged at 700-750 tonnes for 2023 by the World Gold Council (WGC), a little lower than it was last year. Globally, the WGC Q3 Gold Demand Trends report reveals, support for the asset continues as central bank buying maintains a historic pace, bringing quarterly gold demand to 1,147 tonnes, 8% higher than its five-year average. Gold jewellery sales in India increased 7% year-on-year to 155.7 tonnes, aided by softer gold prices and festive demand, which was more pronounced in southern India.

China, warning the public that visibility could drop to less than 50 metres (164 feet). Northern province Hebei launched an anti-pollution emergency response, listing traffic safety controls for when necessary including suspending flight takeoffs and landings, temporarily closing highways and suspending ferries, China's meteorological bureau said in a notice. Authorities also warned road users to stop in safe parking areas when conditions required and asked people to stay indoors. Beijing said it would implement traffic control measures if the capital activates its highest air pollution warning. Heavy smog has engulfed the country's north for a few days while autumn temperatures soared to typical early summer levels close to 30 degrees Celsius (86 degrees Fahrenheit) in some areas. Experts said weak cold air currents from the north pole were a key factor behind the unusual weather. As air pollution levels in the wider Beijing-Tianjin-Hebei area and northern part of Henan province reached moderate to severe, pollution control experts said increased industrial activities, heavy trucking and crop fires had contributed to the haze, state media CCTV reported. Regional power consumption in late October was up 5% compared with first half of the month, more significantly in the cement, brick and tile industries, worsening conditions, CCTV said. Parts of Tianjin municipality and Hebei and Shandong provinces, as well as eastern areas of Jiangsu province saw heavy fog resulting in visibility of less than 1 km (0.62 mile) on Tuesday morning, the National Meteorological Center (NMC) said. Until Thursday, light to moderate haze will continue to cover the central and southern parts of China's northern region, with severe haze

A South Korean prosecution unit dedicated to investigating crypto crime is already “overloaded” with cases, just over a year after launching.

Mexico’s security authorities have raised the death toll from the Category 5 Hurricane Otis that struck the country’s southern Pacific coast early Wednesday to 39

A Hong Kong court has adjourned a winding up hearing for property developer China Evergrande Group’s until Dec. 4

Mexican authorities have raised the toll to 48 dead from Hurricane Otis, days after the fierce Category 5 storm struck the country’s southern Pacific coast and the tourist city of Acapulco

China’s leaders are expected to search for ways to mend the country's fractured property market, create jobs for millions of unemployed youths and spur faster growth in a meeting that reportedly began Monday in Beijing

Nitin Gadkari on Monday said a cross-border road under the ambitious Kaladan Multi-Modal Transit Transport Project (KMTTP) to link south Mizoram's Lawngtlai district with Myanmar's Sittwe port will be completed by November this year. Addressing a rally at West Phaileng in Dampa assembly constituency in west Mizoram's Mamit district bordering Bangladesh, Gadkari said the 26-km road project costs Rs 1,132 crore. «The road under the Kaladan project will be completed by November and it will be helpful to connect Myanmar's Sittwe port,» he said.

Storm Ciarán approaches. Flood warnings have been issued across several regions in England, Scotland, and Wales, with additional amber rain warnings in effect for Northern Ireland. Storm Ciarán is set to make landfall on Thursday and is expected to bring with it strong winds and heavy rainfall, will affect parts of southern England and Wales.

Former U.S. Department of State official Christian Whiton says the Israel-Hamas conflict 'is looking at an open-ended occupation and operation.'