British aerospace group Rolls-Royce reported stronger-than-expected full-year earnings, with a 57% increase in operating profit to £2.46 billion in 2024. The company upgraded its mid-term guidance, now expecting operating profit to reach between £3.6 billion and £3.9 billion, two years ahead of schedule. Rolls-Royce also declared a £1 billion share buyback and reinstated a dividend of 6 pence per share, leading to a surge in its stock price by as much as 19.4%.
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Gas project extension will need to meet net-zero
SummaryWoodside's North West Shelf gas project has been approved by the Albanese government to operate until 2070, but must comply with the safeguard mechanism to achieve net-zero emissions by 2050. Energy Minister Chris Bowen confirmed that all facilities under this mechanism, including Woodside's, are legally required to develop a pathway to net-zero emissions, despite potential controversies regarding gas project approvals and their impact on Australia's climate commitments. Bowen emphasized Australia's ongoing goal to reduce emissions...
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