MONOPOLY CAPITALI$M

Eni and Mercuria agree to join forces in commodity trading

Bloomberg News | July 1, 2026 | 

Stock image.

Italian oil company Eni SpA and commodity merchant Mercuria Energy Group Ltd. signed an agreement to join forces in trading, seeking growth in an area that has seen huge price swings and profit opportunities during the war in Iran.

The two firms will be combining their main trading books for various commodities including oil, liquefied natural gas and biofuels under a new entity headquartered in Geneva, according to statements on Wednesday.

It’s a big move for both companies — integrating Eni’s physical energy supply chains with Mercuria’s trading expertise could potentially allow them to compete more effectively with larger rivals such as Shell Plc or Vitol Group.

“This partnership brings together two highly complementary organizations,” Mercuria chief executive officer Marco Dunand said. The venture will combine “physical energy flows with world-class trading, logistics and risk management capabilities.”

For Eni, the tie-up could allow it to challenge its larger European rivals Shell, BP Plc and TotalEnergies SE, which are among the largest oil and gas traders in the world, buying and selling far more than what’s produced by their own assets.

For Mercuria, which long has trailed rivals like Vitol, Trafigura Group and Gunvor Group in its physical trading volumes, the deal offers an opportunity to supercharge an expansion push, especially in LNG. The fuel is seen by many in the industry as a key growth commodity, but it has faced setbacks, with Steve Hill, a former senior Shell executive whom it hired in 2024, leaving this year.

Eni and Mercuria expect the joint venture to be operational in 2027, with the two firms equally represented at the senior managerial level, according to a spokesperson for the Italian oil giant. Commodity traders won’t be made redundant, the spokesperson added.

Price volatility caused by the Iran war has created opportunities for companies that buy and sell energy in large volumes. Shell and BP posted first-quarter earnings that far exceeded expectations, thanks to a surge in profit from their extensive in-house trading operations.

Mercuria’s first-half profit jumped 88%, putting it on track for one of its best-ever annual results. For several months, the trading house has been doing deals to grow its access to physical commodities and processing assets, including $1.2 billion to help finance the buyout of a copper mining company in Kazakhstan and a deal to buy an oil refinery and petrol stations in Argentina.

Trading activities for both parties will be exclusive to the JV for the identified commodities, except cases that require joint approval, the spokesperson said, adding that Eni does not currently expect refinery assets to form part of the venture.

Talks between Eni and Mercuria to form a joint venture were first reported by Bloomberg in January.

(By Jack Wittels)

Mercuria signs first uranium financing deal with Malawi miner

Bloomberg News | June 29, 2026 | 

Kayelekera uranium mine in Malawi. Credit: Lotus Resources.

Trading house Mercuria Energy Group Ltd. signed its first prepayment agreement with a uranium miner, striking a deal with the owner of an operation in Malawi.

Australia’s Lotus Resources Ltd. said last week it has signed a non-binding term sheet with the commodity trader for production from the its Kayelekera mine. If finalized, Mercuria will pay up to $30 million and be able to market 3 million pounds of uranium over 30 months.

The arrangement is Mercuria’s maiden foray into financing uranium miners in return for a portion of their output. The market for the nuclear fuel has recovered in recent years following a lengthy downturn after the 2011 Fukushima disaster, and demand is forecast to grow as multiple countries – led by China – expand their fleet of reactors.

Lotus acquired the Kayelekera asset in 2020, six years after it was shuttered due to weak uranium prices. The company restarted the mine last year and is targeting annual output of 2.4 million pounds of uranium oxide, although earlier this month it announced a temporary pause in production after the Iran war disrupted sulfuric acid supplies.

Mercuria’s funding – which won’t be available until September at the earliest – will provide “significant additional working capital flexibility to progress the project,” Lotus said. That involves repairing the mine’s acid plant.

Under the marketing agreement, Lotus will retain “full control” over who Kayelekera’s production is sold to, including to power utilities that have existing offtake contracts with the mine, the company said.

A spokesperson for Mercuria declined to comment.

(By William Clowes and Archie Hunter)

MONOPOLY CAPITALI$M

Mining M&A value surges in Q1, but deal count plunges: S&P

Staff Writer | June 10, 2026 | 

Stock image. (By Gorodenkoff.)

The mining industry saw mixed mergers and acquisitions (M&A) activity in the first quarter of 2026, with a surge in deal value but a sizeable decrease in the number of transactions, according to S&P Global.

In its latest M&A trends report, the firm highlighted a strong resurgence in deals involving companies in the metals and mining sector during the January-March period, with the combined value of transactions rising 63% over the previous quarter.

At $26.28 billion, the total value of deals represents the second highest ever for a quarter since it began tracking the data in late 2013, S&P said, pointing to the industry’s strategic focus on securing long-term supply.

It also noted that companies in the mining sector are now seeking immediate scale, which explains the surge in corporate-level deals as opposed to asset acquisitions. In total, there were 30 company acquisitions recorded by S&P during the quarter, nearly double the number of asset purchases (16).

However, the report came with a caveat, as Q1 2026 was the first quarter that the firm included steel deals in its coverage. As such, the $10 billion acquisition of BlueScope Steel — the largest of the quarter — likely overstated the increased value of M&A deals compared to past years.

This was also evident in the number of M&A deals, which at 46 was nearly half of the December quarter totals.

Focus on copper-gold remains

Aside from the steel deal, the second and third largest deals centered on gold and copper respectively, an indication of the strong appetite for the two hottest commodities, S&P said. Several large players, including South Africa’s Gold Fields and China’s Zhaojin Mining, have indicated they are open to deals.

As for individual asset buys, the combined value ($3.35 billion) was well above the quarterly average, buoyed by the $1 billion sale of the Copler mine in Turkey, though it was 12% lower than the previous quarter. But compared to the same period last year, the value of asset purchases was a significant 221% higher.

MONOPOLY CAPITALI$M

Storied UK Shipbuilder Cammell Laird Sold in Consolidation of Sector

Storied Cammell Laird shipbuilder is part of the consolidation under the Balaena identity (Cammell Laird)

Published Jun 10, 2026 7:26 PM by The Maritime Executive

 

The famed UK shipbuilder Cammell Laird has been sold as part of an ongoing consolidation of the sector as firms posture for the anticipated increase in UK defense shipbuilding. The yard, which dates back to 1828, was sold as part of the APCL Group to a relative newcomer to the sector, Balaena.

A maritime engineering and shipbuilding group based in Cornwall, Balaena was launched in 2019 and made its first major acquisition, a shipyard in Gibraltar, in 2022. The Financial Times reports it is paying approximately £150 million (US$200 million) for the group, which consists of Cammell Laird located in Birkenhead as well as A&P Type in Tyneside and the two yards in Falmouth, A&P Falmouth and Falmouth Docks and Engineering Company. The four yards had previously been consolidated into the APCL Group in 2023, which is a subsidiary of the Peel Group.

Balaena highlights that the consolidated company will own 12 dry docks and have more than 2,000 employees with a reach across the UK and to the Mediterranean. It said in announcing the acquisition that the new enterprise “provides the basis for increased support to UK defense interests,” as well as forming the UK’s most comprehensive commercial ship repair and refit networks. It said that, in addition to the Royal Navy and Royal Fleet Auxiliary, it will be serving the offshore energy, cargo, cruise, and ferry sectors.

Balaena has already built a strong business with the Royal Navy, with reports that nearly a quarter of the capacity at the yard in Gibraltar is committed to the UK’s Ministry of Defence. The group also owns a smaller shipyard in Cornwall.

The company highlights that it plans to invest in modernizing APCL’s facilities, expanding capacity for ship repair, offshore fabrication, and low-emission propulsion systems. A new national skills and apprenticeship program will also be launched in partnership with local colleges and maritime training bodies to develop Britain’s next generation of maritime professionals.

Cammell Laird is one of the most historic names in UK shipbuilding, having built passenger liners, the famed aircraft carrier Ark Royal commissioned in 1955, and recently the RRS Sir David Attenborough research vessel. It has also recently built blocks for programs, including the Royal Navy’s aircraft carriers, submarines, and is involved with the Type 26 frigates. A&P Tyne has also been building for the Type 26 program. Both yards have also provided repair services to the Ministry of Defence.

The company is seen as positioning itself ahead of the government’s announcements for its future fleet as part of the long-delayed Defence Investment Plan. Competition is expected among the remaining established yards as well as the new entrants, including Balaena and Navantia.

Balaena follows others that have also moved to consolidate and reposition ahead of the UK’s anticipated investment in shipbuilding. Spain’s Navantia Group had partnered with the famed Harland & Wolff Shipyard and won the contract for the UK’s Fleet Solid Support (FSS) shipbuilding program. When Harland & Wolff collapsed, Navantia stepped in to acquire the group at the start of 2025 and established a UK shipbuilder with the four yards of H&W. It is moving forward with the FSS program while also being positioned to benefit from the anticipated future contracts.
 

MONOPOLY CAPITALI$M

Frasers makes €2 billion offer for Hugo Boss

AFP
June 10, 2026 

Hugo Boss may get a new boss if a buyout offer by Britain’s Frasers Group is successful – Copyright AFP/File Charly TRIBALLEAU

British clothing group Frasers announced Wednesday a nearly two-billion-euro ($2.3 billion) offer to acquire outstanding shares in German men’s premium apparel firm Hugo Boss.

“Hugo Boss is a key brand partner for Frasers, and one of the top five brands across the Frasers group,” said the British firm, which owns the sporting goods chain Sports Direct and already holds 26 percent of the German brand.

The offer is voluntary, but Frasers noted that it held a significant number of options on Hugo Boss shares that would put its stake above 30 percent and oblige it to make a buyout offer.

Frasers said the offer would allow it to continue to invest in Hugo Boss and expressed its support for the company’s current leadership team.

At 38 euros per share in cash, the offer is worth approximately 1.98 billion euros overall.

But that proposal doesn’t offer Hugo Boss shareholders much of a premium from the 36.46 euros the company’s stock closed at on Wednesday on the Frankfurt stock exchange.

Hugo Boss shares spent much of 2023 above 60 euros per share.

Subject to regulatory approvals Frasers said it hoped the offer could be completed in the second half of this year.

Hugo Boss, which offers apparel, footwear and fragrances in the accessible-luxury segment, posted a net profit of 249 million euros in 2025.

Frasers saw its net profit slide to 292.1 million pounds (339 million euros) in its fiscal year that ended on April 30.

MONOPOLY CAPITALI$M

Baleària Completes Canary Islands Acquisition from Armas Trasmediterránea

Baleària completed the Canary Islands portion of the combination reporting it will launch a new brand (Baleària)

Published May 21, 2026 8:45 PM by The Maritime Executive

 

Baleària, Spain’s leading maritime passenger and freight transport company, has completed the first phase of the planned acquisition of Armas Trasmediterránea, taking control of the assets in the Canary Islands. It includes both inter-island routes and connections between the mainland and the island and, according to the company, consolidates Baleària’s position as Spain’s leading operator of scheduled maritime transport while also establishing it as one of Europe’s leading ferry operators, in terms of both scale and quality.

The agreement for this acquisition was announced last August, with the company now taking control of the Canary Island assets. The procedures relating to the operations for the Strait of Gibraltar and Alboran Sea are yet to be finalized. The company said the deal would include the management of 15 ships, while other portions of the operations were being sold to DFDS.

This acquisition marks the integration of three historic Spanish shipping companies: Trasmediterránea (founded in 1916), Armas (in 1941), and Baleària (in 1998). The resulting group will have around 4,500 employees and a fleet of over 50 vessels. The combined annual traffic volume will exceed 8 million passengers and 11 million linear meters of cargo, generating a consolidated turnover of over €1 billion (nearly $1.2 billion at current exchange rates). 

"The new Baleària is ready to ensure the efficiency of the entire national maritime transport network across all its regions," said Adolfo Utorm, president of Baleària. “We are talking about a key infrastructure for territorial cohesion with the Canary and Balearic archipelagos, and with the autonomous cities of Ceuta and Melilla, as well as a vital link for political and commercial relations with Morocco and Algeria."

As part of this integration, the company has launched the Baleària Canarias brand, through which it will operate in the Canary Islands. During the transitional period, this new brand will coexist with that of Armas Trasmediterránea. 

Baleària has also committed to investing €45 million ($52 million) over the next three years in the Canary Islands to enhance the quality, digitalization, and comfort of the fleet it has acquired. The company has also guaranteed that the entire existing workforce will be retained.

It is a significant consolidation of ferry operations in Spain and its territories. Baleària called it a strategic deal that would increase its competitiveness against the multinational ferry companies.

MONOPOLY CAPITALI$M

NextEra Energy and Dominion Energy agree deal

Monday, 18 May 2026

World Nuclear News

NextEra Energy and Dominion Energy have announced plans to combine in an all-stock transaction valued at about USD66.8 billion that they say will create the world’s largest regulated electric utility business.
 

(Image: NextEra Energy, Dominion Energy logos)

The combined entity will operate under the NextEra name and be 74.5% owned by NextEra Energy shareholders and 25.5% by Dominion Energy shareholders. It will serve around 10 million accounts across Florida, Virginia, North Carolina and South Carolina.

The combined entity will have 110 GW of generating capacity, including considerable nuclear energy capacity - NextEra Energy Resources, along with its affiliate company Florida Power & Light Company, operates seven nuclear units at four sites: Turkey Point and St Lucie in Florida; Seabrook in New Hampshire; and Point Beach in Wisconsin. Additionally, it plans to restart the Duane Arnold plant in Iowa, which ceased operations in 2020. The plant is scheduled to become operational at the beginning of 2029, pending regulatory approvals. A power purchase agreement with Google was announced last October.

In January NextEra Energy said it could add up to 6 GWe of small modular reactor generating capacity at its existing nuclear power plant sites or potential new sites, primarily to meet demand from data centres.

More than 40% of the electricity Dominion Energy generates is from its nuclear plants - Millstone Nuclear Power Station in Connecticut, North Anna and Surry nuclear power plants in Virginia and VC Summer in South Carolina.

John Ketchum, chairman, president and CEO of NextEra Energy, said: "This is a historic moment for our two companies and for the states we are privileged to serve. Electricity demand is rising faster than it has in decades. Projects are getting larger and more complex. Customers need affordable and reliable power now, not years from now. We are bringing NextEra Energy and Dominion Energy together because scale matters more than ever - not for the sake of size, but because scale translates into capital and operating efficiencies. It enables us to buy, build, finance and operate more efficiently, which translates into more affordable electricity for our customers in the long run."

Robert Blue, chair, president and CEO of Dominion Energy, said: "This combination brings together two strong operating platforms and creates an even stronger energy partner for Virginia, North Carolina, South Carolina and Florida, with the scale and balance sheet to deliver the generation, transmission and grid investments our customers and economies need."

The proposal is that Ketchum will serve as chairman and CEO of the combined company and Blue will serve as president and CEO of regulated utilities and as a member of the board of directors. The combined company's board of directors will include 10 directors from NextEra Energy and four from Dominion Energy. The announcement includes a proposal for USD2.25 billion in bill credits for Dominion customers in Virginia, North Carolina and South Carolina over the two years after the deal closes.

The two sides expect the deal to close in 12 to 18 months "subject to customary closing conditions and approvals by the shareholders of NextEra Energy and Dominion Energy, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, approval by the Federal Energy Regulatory Commission under Section 203 of the Federal Power Act and approval by the Nuclear Regulatory Commission".

NextEra-Dominion Energy Merger To Create World’s Largest Electric Utility

By Alex Kimani - May 18, 2026

Leading clean energy utility, NextEra Energy (NYSE:NEE), has agreed to buy Dominion Energy (NYSE:D) in an all-stock transaction valued at $66.8 billion, marking the largest power utility acquisition on record. The merger unites Florida-based NextEra Energy and Virginia-based Dominion Energy to create the world’s largest regulated electric utility, a power sector titan with an enterprise value exceeding $400 billion including debt.

The historic consolidation is directly driven by the artificial intelligence infrastructure boom, with high-performance AI hardware having triggered a massive surge in electricity demand. NextEra, a global leader in wind and solar power, will leverage its clean energy assets to meet the carbon-free electricity requirements of tech hyperscalers like Alphabet (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and Meta Platforms (NASDAQ:META).

NextEra previously secured high-profile deals, including an agreement with Google to revive Iowa’s Duane Arnold nuclear plant.

Dominion operates in Virginia and the Carolinas, with Northern Virginia home to the world’s largest concentration of data centers, also known as the “Data Center Alley”.

PJM Interconnection, the largest U.S. power grid operator, has projected that summer peak demand in the Dominion Energy zone (encompassing Northern Virginia’s Data Center Alley) to grow by 5.4% annually over the next decade. Because hyperscale data centers run continuously at high load factors, they drive up demand evenly, causing winter peak loads to rise at a 4% annualized rate.

However, the mega-merger faces a complex review process since it requires antitrust clearance and approvals from the Federal Energy Regulatory Commission (FERC) alongside state public utility commissions in Florida, Virginia, and the Carolinas.

Thankfully, Wall Street is generally bullish that the current federal administration’s general openness to corporate mergers may provide a smoother path toward finalization.

By Alex Kimani for Oilprice.com

NextEra to Buy Dominion in Landmark U.S. Utility Mega-Merger

By Charles Kennedy - May 18, 2026NextEra Energy and Dominion Energy on Monday unveiled a blockbuster merger agreement that would create the world’s largest regulated electric utility company by market capitalization, as surging U.S. power demand drives consolidation across the sector.

Under the agreement, Dominion shareholders will receive 0.8138 shares of NextEra Energy for each Dominion share they own, giving NextEra investors roughly 74.5% ownership of the combined company and Dominion shareholders about 25.5%. The transaction is expected to close within 12 to 18 months, pending shareholder and regulatory approvals.

The combined company would serve around 10 million customer accounts across Florida, Virginia, North Carolina, and South Carolina and control approximately 110 gigawatts of generation capacity spanning natural gas, nuclear, renewables, and battery storage. The companies said more than 80% of the merged business would be regulated operations.

The deal comes as U.S. utilities race to secure scale and capital to meet rapidly rising electricity demand driven by artificial intelligence, data centers, industrial reshoring, and electrification trends. NextEra said the combined company would have more than 130 GW of large-load opportunities in its development pipeline.

To ease regulatory and political concerns over customer impacts, the companies proposed $2.25 billion in bill credits for Dominion customers in Virginia, North Carolina, and South Carolina over two years after closing. They also pledged to retain dual headquarters in Juno Beach, Florida, and Richmond, Virginia, while maintaining Dominion’s regional utility brands.

NextEra Chief Executive John Ketchum said the transaction was designed to improve operating efficiency and lower long-term customer costs as utilities face increasingly complex and capital-intensive infrastructure needs. Dominion CEO Robert Blue said the merger would strengthen the companies’ ability to fund new generation, transmission, and grid upgrades.

The companies expect the merger to immediately boost adjusted earnings per share and project more than 9% annual adjusted EPS growth through 2032. They also said the larger balance sheet could improve credit metrics and lower financing costs.

The merger would significantly expand NextEra’s already dominant position in U.S. power markets. The company is currently the largest renewable energy and battery storage developer in the world through NextEra Energy Resources, while Dominion brings major regulated utility operations and one of the largest offshore wind development portfolios in the United States.

The transaction will require approval from the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission, and multiple state utility regulators, including commissions in Virginia, North Carolina, and South Carolina.

By Charles Kennedy for Oilprice.com

GREEN CAPITALI$M

Are solar panel prices about to surge? Why now might be the perfect time to invest

Copyright Copyright 2026 The Associated Press. All rights reserved.

By Liam Gilliver

Published on 17/05/2026 - EURONEWS

Geopolitical uncertainty, supply shortages and China’s recent tax reform are threatening to send the prices of solar panels soaring. But, is it really that severe?

Once an extortionate investment reserved for the ‘eco-elite’, solar has rapidly become one of the cheapest electricity sources in the world. But, are the tables about to turn?

Solar photovoltaic (PV) panels, composed of individual solar cells that convert sunlight into electricity, have plummeted in price by a staggering 90 per cent in the last decade. According to Our World In Data, costs have dropped by around 20 per cent every time the global cumulative capacity doubles.

At the same time, the price of solar batteries, which allow households to store electricity during peak times, have also decreased by 90 per cent since 2010 due to advances in battery chemistry and manufacturing.

The EU now describes solar as a “shining star” of Europe’s clean transition, accounting for almost a quarter (23.4 per cent) of its electricity consumption in 2024. In June last year, the sun was the main source of the electricity generated in the EU.

Amid the war on Iran, solar is helping to cushion households from volatile fossil fuel shocks. Recent analysis found that harnessing sunlight for power saved Europe more than €100 million per day throughout March by reducing gas imports.

If prices remain high, due to Iran’s stranglehold on the Strait of Hormuz, experts say these savings could reach €67.5 billion by the end of the year.

The ongoing conflict in the Middle East has also bolstered interest in household electrification, with multiple energy firms across Europe reporting a recent spike in solar panel and solar battery inquiries.

However, as demand for solar panels soars, foreign tax policy, the price of silver and other influences could soon ignite a price surge.

Where does Europe get its solar panels from?

While the EU describes solar as having a “significant role in its transition towards cleaner, more affordable and secure” energy, it remains heavily reliant on countries outside of the bloc to make PV panels.

In 2024, the EU imported €14.6 billion in green energy products, including €11.1 billion worth of solar panels. China was by far the largest supplier of these panels, accounting for 98 per cent of all imports.

According to the International Energy Agency (IEA), China has invested more than $50 billion (€43 billion) in new PV supply capacity – 10 times more than Europe – and created more than 300,000 manufacturing jobs across the solar PV value chain since 2011. Today, the country’s share in all of the manufacturing stages of solar panels exceeds 80 per cent globally.

Related

• ‘Significantly lower energy bills’: How do solar batteries work and are they worth the investment?
• Blocked sunlight and changing clouds: How coal pollution is damaging our solar potential

“Chinese manufacturers have reached scale and cost levels that cannot be matched outside of China,” Jannik Schall of clean tech startup 1KOMMA5° tells Euronews Earth.

“There are factories in other countries, even in Europe, but they only focus on the final assembly of solar panels and cannot compete with China from a cost perspective.”

China’s monopoly on solar panels hasn’t been a clear victory for the country, with tight competition pushing companies to sell below cost. An IEA report from last year found that China-based solar companies had made cumulative net losses of around $5 billion (€4.3 billion) since the beginning of 2024.

This led to China’s Ministry of Finance and State Tax Administration announcing major reform to its generous renewables subsidies, which were originally designed to support foreign trading.

From 1 April 2026, the nine per cent VAT export rebate on solar products was eliminated, while the nine per cent VAT export rebate on battery products was reduced to six per cent. The VAT rebate on battery products will be completely scrapped from 1 January 2027.

Graph detailing China's solar exports. Ember

Just before the tax reform came into place, Chinese solar exports skyrocketed as countries scrambled to beat the price hike.

Energy think-tank Ember found that during March 2026, several European countries, including France, Italy, Poland and Romania, hit all-time records for the number of Chinese solar imports.

Will China’s VAT reform increase the cost of solar?

“The elimination of China’s VAT export rebates alone will cause module prices to rise by around 10 per cent,” Schall tells Euronews Earth. Solar modules is the standard-industry term for a single PV unit.

British newspaper The i has warned that one national solar installer has been forced to charge £800 (€918) more for an average rooftop installation.

So is a blanket price rise expected across the board? It’s not that simple.

Experts say that the market does not react this quickly, and the increasing price of solar panels won’t bite straight away.

Analysts do not expect the rise in cost to limit demand for solar, given its competitive pricing, either. However, it does demonstrate that even renewables are not completely shielded from the intricacies of geopolitics – an argument that frequently arises when speaking about fossil fuel shocks.

InfoLink Consulting, a Taipei-based firm that provides market intelligence, price forecasting and supply chain analysis for solar PV, says that while ground-mounted projects (often used in large-scale solar farms) have edged up in recent weeks, high order volumes have constrained any rise in average prices.

Meanwhile, the price of small-scale or ‘distributed’ solar power systems, like those installed directly on rooftops or carports, has continued to fall marginally, InfoLink said earlier this week (13 May).

How silver became solar’s crux

To understand why solar costs fluctuate, it’s important to understand how PV panels are designed.

Solar panels are predominantly made of glass, plastic polymer and aluminum. Silver, which is the most effective metallic conductor of electricity and heat, is also a key material for PV panels.

Despite representing less than five per cent of a total PV panel in terms of weight, silver paste accounts for up to 30 per cent of total solar cell costs, analysts at German technology group Heraeus state.

According to the Silver Institute, around 4,000 tonnes of silver, equivalent to 14 per cent of global silver consumption, were used for PV panel production in 2023 alone. Researchers warn this share is expected to increase to 20 per cent by 2030, a fourfold increase since 2014.

Chinese manufacturers have therefore been boosting efforts to tackle this, by replacing silver with cheaper metals such as copper. Experts predict switching from silver to copper-based metallisation could save the solar industry roughly $15 billion (€12.8 billion) per year globally.

However, the price of copper has also increased in recent years, albeit at a slower pace than silver.

“Driven by geopolitical uncertainty, supply shortages and increasing demand from AI data centres, prices for copper, aluminum and lithium have increased significantly since Q4 of 2025,” Schall explains.

“Silver prices have reached 150+ per cent increases within a few weeks in the beginning of 2026, making silver the biggest cost contributor in solar panels. These cost increases on the raw material side need time to trickle down through the value chain and are expected to reach end consumers this summer

1KOMMA5° forecasts that the additional high raw material costs, alongside China’s VAT elimination, could cause price increases of 15 to 20 per cent for individual components.

Schall adds that while residential customers will be affected by this in the “medium term” those wanting to install PV panels can still benefit from “more favourable prices” right now.

Euronews Earth reached out to two energy firms in Europe to ask whether they intend to raise their solar panel prices following China’s tax reform and the increasing price of silver. Both declined to comment.

Despite uncertainty, experts point out that solar prices are still around 50 per cent down compared to 2023, making it one of the cheapest sources of electricity in the world.

MONOPOLY CAPITALI$M

Nickel associations of Indonesia, Philippines sign agreement on cooperation

Reuters | May 8, 2026 | 

Nickel pig iron plant in Indonesia. (Image from Nickel Mines Ltd.)

The nickel associations of Indonesia and the Philippines on Friday signed a memorandum of understanding on nickel cooperation, Indonesia’s coordinating ministry of economics said.

The agreement includes the exchange of information, joint development of nickel downstream processing technology, and human resource development to support a sustainable nickel industry ecosystem, the ministry said.

The signing was witnessed by Indonesia’s chief economics minister Airlangga Hartarto and the Philippines’ trade and industry minister Cristina Roque.

“The Philippines will no longer be only an exporter of raw nickel ore as it will be integrated into a higher-value regional supply chain, while Indonesia will secure a reliable supply for its battery and stainless industries,” Airlangga said.

Indonesia exported $9.73 billion of nickel products last year, Airlangga said, adding that smelters in Indonesia required supplies with the proper silicon-to-magnesium ratio which can be supplied by the Philippines.

(By Ananda Teresia and Stefanno Sulaiman; Editing by John Mair)

MONOPOLY CAPITALI$M

Mega elevator deal: Finnish lift maker Kone acquires German rival TKE in €29.4bn deal

Copyright Kone/All right reserved

By Doloresz Katanich with AFP

Published on 29/04/2026 - EURONEWS

Finnish lift maker Kone nearly doubles its size in what the Finnish media described as the largest corporate acquisition ever carried out in Finland.

Finnish lift maker KONE on Wednesday announced the acquisition of its German rival TKE in a giant share-and-cash deal valuing TKE at €29.4 billion.

The group formed by the merger will be nearly twice the size of the current KONE group, with more than 100,000 employees in over 100 countries and an annual revenue of around €20.5bn, the two companies said in a statement.

A consortium including the private equity groups Advent and Cinven owns TKE.

The new group will be based in Finland and led by KONE’s current French chief executive, Philippe Delorme.

“This industry-revitalising transaction brings together two exceptional global businesses with highly complementary geographic footprints and innovation platforms,” the joint statement said.

The acquisition makes KONE gain strong access to markets in the Americas and to profitable service and maintenance contracts.

“KONE’s presence in Asia is complemented by TKE’s footprint in the Americas, and TKE opens new geographies for KONE, resulting in a well-balanced global presence.”

The takeover is the largest corporate acquisition ever carried out in Finland, according to Finnish media.

The consortium that owns TKE will receive €5bn and 270 million shares in the new KONE, valued at €15.2bn, and will hold 33.8% of the new entity, according to the statement.

The two groups expect annual synergies in the form of extra profit or cost savings of €700 million from the acquisition. The new company is expected to have a strong investment-grade credit rating while generating strong cash flow.

The deal still needs regulatory and shareholder approval and will likely finish in 2027.

MONOPOLY CAPITALI$M IS FASCISM

Warner Bros shareholders greenlight sale to Paramount

Muna Turki 

DW with Reuters and AP

 24/04/2026 

The deal would combine two major Hollywood studios and bring CBS and CNN under one roof, tightening an already concentrated media landscape, critics say.

The merger would bring together two of Hollywood’s remaining five legacy studios

.Image: Daniel Cole/REUTERS

Warner Bros. Discovery shareholders voted overwhelmingly on Thursday to approve the sale of the company to Paramount.

The deal could reshape Hollywood and the American media landscape, which critics say is already dominated by just a few powerful players.

The European Commission and several US states, including California, are reviewing the merger.

Executives at Paramount say the deal will benefit consumers.

What does Warner Bros shareholders' approval mean?

In a preliminary vote count, the Warner Bros. Discovery shareholders approved the previously announced accusition by Paramount. The deal values the company at nearly $111 billion, including debt.

The transaction is not final, as it still requires regulatory approval and could face legal challenges.

The merger has been under political scrutiny in the United States. Last week, Democratic senators held a "spotlight" hearing on the deal, raising antitrust concerns about the combined company’s market power.

In Europe, the deal is expected to face fewer regulatory hurdles. The combined company would hold less than 20% market share across European Union markets, reducing antitrust concerns for the European Commission.

The deal follows an unsolicited bid by Paramount for Warner Bros. Discovery, despite an existing agreement with Netflix. The competing offers triggered a bidding battle that ended with Netflix withdrawing.

Merger tightens media market, critics warn

The merger combines two major streaming platforms, Paramount+ and HBO Max, as well as the two major Hollywood studios. It brings two of the biggest names in US television news, CBS and CNN, under the same company.

Critics of US President Donald Trump fear that CNN, which has frequently reported critically on his administration, could lose its editorial independence under the umbrella of Paramount. Paramount owner David Ellison is described as a Trump ally.

Opposition to the merger has also come from within the movie industry. An open letter signed by hundreds of Hollywood figures earlier in April warned that the deal would "further consolidate an already concentrated media landscape, reducing competition at a time when our industries and audiences can least afford it."

Paramount executives have rejected those concerns, saying the merger would benefit consumers, particularly if Paramount+ and HBO Max are combined into a single streaming service.

The deal could also draw additional scrutiny because it includes financing from sovereign wealth funds in Saudi Arabia, Qatar and the United Arab Emirates, raising potential national security concerns.

Warner Bros expects the deal to close later in 2026.

Edited by: Karl Sexton