Latest news with #US17.5
Sydney Morning Herald
7 days ago
- Business
- Sydney Morning Herald
ASX set to rise, Wall Street advances amid doubts about Trump's tariffs
For the time being, all the uncertainty around tariffs could help keep markets unsteady. This upcoming week has several potential flashpoints that could shake things. On Tuesday will come the latest reading on inflation across the United States. Economists expect it to show inflation accelerated to 2.6 per cent last month from 2.4 per cent in May. Companies are also lining up to report how they performed during the spring. JPMorgan Chase and several other huge banks will report their latest quarterly results on Tuesday, followed by Johnson & Johnson on Wednesday and PepsiCo on Thursday. Fastenal, a distributor of industrial and construction supplies, on Monday reported a stronger profit for the latest quarter than analysts expected. Its stock rose 2.9 per cent, though it also said that market conditions remain sluggish. Shares of Kenvue rose 2.3 per cent in shaky trading after the former division of Johnson & Johnson said CEO Thibaut Mongon is stepping down. Kenvue, the maker of Listerine and Band-Aid brands, is in the midst of a strategic review of its options, 'including ways to simplify the company's portfolio and how it operates,' according to Larry Merlo, the board's chair. Waters slumped 11.9 per cent after saying it had agreed to merge with Becton, Dickinson and Co.'s biosciences and diagnostic solutions business in a deal valued at roughly $US17.5 billion ($26.7 billion). In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury slipped to 4.42 per cent from 4.43 per cent late Friday. Loading In stock markets abroad, indexes fell across much of Europe. Germany's DAX lost 0.4 per cent, and France's CAC 40 fell 0.3 per cent. But indexes rose 0.8 per cent in South Korea and 0.3 per cent in Hong Kong. Chinese shares advanced after the government reported that exports rose last month as a truce in a tariff war prompted a surge in orders ahead of the August 1 deadline for reaching a new trade deal with Washington.
The Age
29-04-2025
- Business
- The Age
Trump wants to unleash more US gas. This Australian energy giant will help sell it
Australian oil and gas giant Woodside has launched a major expansion push in the United States after signing off on the construction of a $27 billion export terminal that will liquefy more American gas and ship it to the rest of the world. Perth-based Woodside on Tuesday gave the final clearance to start building the mega-project on the US Gulf Coast, which will convert gas into super-chilled liquefied natural gas (LNG) and load it onto ships to sell across the globe from 2029. The $US17.5 billion ($27 billion) project marks a significant bet on ongoing demand for fossil fuels even as the world tackles climate change, while providing a boost to Donald Trump's ambition to exert American 'energy dominance' across the world by helping cement the United States' position as the biggest global LNG supplier. Since returning to the White House, Trump has ordered the US withdrawal from the Paris Agreement on global warming and is seeking to unwind support for renewable energy and electric vehicles. Instead, under the slogan 'drill, baby, drill', Trump has signed a slew of orders aimed at making it cheaper and easier for companies to produce fossil fuels, and has been calling on other nations to buy more American LNG as a way to win reprieves from his aggressive tariffs. The Louisiana LNG project – an under-construction export terminal that Woodside bought last year for $1.2 billion – forms a key part of the ASX-listed energy giant's efforts to diversify its operations away from its flagship LNG operations in Western Australia, which supply mainly customers across Asia. Once completed, the terminal will dramatically strengthen Woodside's foothold in the Atlantic Basin, boost exposure to LNG buyers in Europe and position it as an LNG 'powerhouse', accounting for more than 5 per cent of global supplies of the fuel, the company said. 'Louisiana LNG is a game-changer for Woodside,' chief executive Meg O'Neill said. 'The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic basins leverages Woodside's proven LNG marketing capabilities and complements our established position in Asia.'
Sydney Morning Herald
29-04-2025
- Business
- Sydney Morning Herald
Trump wants to unleash more US gas. This Australian energy giant will help sell it
Australian oil and gas giant Woodside has launched a major expansion push in the United States after signing off on the construction of a $27 billion export terminal that will liquefy more American gas and ship it to the rest of the world. Perth-based Woodside on Tuesday gave the final clearance to start building the mega-project on the US Gulf Coast, which will convert gas into super-chilled liquefied natural gas (LNG) and load it onto ships to sell across the globe from 2029. The $US17.5 billion ($27 billion) project marks a significant bet on ongoing demand for fossil fuels even as the world tackles climate change, while providing a boost to Donald Trump's ambition to exert American 'energy dominance' across the world by helping cement the United States' position as the biggest global LNG supplier. Since returning to the White House, Trump has ordered the US withdrawal from the Paris Agreement on global warming and is seeking to unwind support for renewable energy and electric vehicles. Instead, under the slogan 'drill, baby, drill', Trump has signed a slew of orders aimed at making it cheaper and easier for companies to produce fossil fuels, and has been calling on other nations to buy more American LNG as a way to win reprieves from his aggressive tariffs. The Louisiana LNG project – an under-construction export terminal that Woodside bought last year for $1.2 billion – forms a key part of the ASX-listed energy giant's efforts to diversify its operations away from its flagship LNG operations in Western Australia, which supply mainly customers across Asia. Once completed, the terminal will dramatically strengthen Woodside's foothold in the Atlantic Basin, boost exposure to LNG buyers in Europe and position it as an LNG 'powerhouse', accounting for more than 5 per cent of global supplies of the fuel, the company said. 'Louisiana LNG is a game-changer for Woodside,' chief executive Meg O'Neill said. 'The marketing opportunities Louisiana LNG offers across the Pacific and Atlantic basins leverages Woodside's proven LNG marketing capabilities and complements our established position in Asia.'
Perth Now
29-04-2025
- Business
- Perth Now
Woodside aspiring to global market with US gas project
Australian oil and gas giant Woodside has made a final decision to proceed with its liquefied natural gas project in the US. The $US17.5 billion ($A27.2 billion) development in the state of Louisiana is expected to produce 16.5 million tonnes of LNG per year, taking the company's annual LNG delivery to 24 million tonnes next decade - around five per cent of global supply. "Louisiana LNG is a game-changer for Woodside, set to position our company as a global LNG powerhouse and enable us to deliver enduring shareholder returns," Woodside chief executive Meg O'Neill said in a statement. "We have secured quality partners and are now ready to take a final investment decision." US investment firm Stonepeak will provide $US5.7 billion of the total cost. The project would connect Woodside to low-cost US gas resources and promises an asset life-span of more than 40 years with an aim of first output in 2029, the company said. "This supply can target strong and sustained demand for LNG expected in both Asia and Europe, as those markets pursue energy security and decarbonisation aspirations," Ms O'Neill said. Woodside claimed its greenhouse gas emissions targets would be unchanged by the project, drawing the ire of environmental groups. According to Market Forces chief executive Will van de Pol, the project would release emissions equivalent to running Australia's largest coal-fired power plant for another 120 years. "Our analysis shows Woodside's decision to bulldoze ahead with its risky Louisiana LNG project will add 1.6 billion tonnes of climate emissions over its 40-year lifetime," he said. "Woodside has committed $US11.8 billion to a project that would export harmful gas until the 2070s." Mr van der Pol said the gas expansion strategy was consistent with reaching a catastrophic level of global warming, which was ultimately enabled by major shareholders including Australia's largest superannuation funds. "Big investors like AustralianSuper and HESTA can't wash their hands of these massive new emissions committed on their watch, and they must escalate pressure by voting against directors at Woodside's AGM next week." AustralianSuper and HESTA have been contacted for comment.
