As of July 21, today’s news is dominated by significant developments in the energy sector, particularly centered around market dynamics affecting key players. A notable highlight is an agreement involving Prysmian among other European operators and ACWA Power aimed at establishing a value chain for exports to Europe from Saudi Arabia. The partnership, which also includes firms like Edison and Zhero Power, aims to enhance the reliability and efficiency of transboundary energy infrastructure through advanced energy transmission corridors. This initiative was announced in the presence of Saudi Energy Minister Abdulaziz bin Salman, emphasizing the strategic importance of international collaborations in renewable energy. In financial news, Bloomberg Intelligence projected that Prysmian will see strong organic sales growth in the second quarter, primarily driven by over 20% increases in its Transmission business and a rebound in its Digital unit. The company may also revise its guidance for adjusted EBITDA, originally set between €2.25 billion and €2.35 billion, to reflect the expected impact of channel consolidation and currency fluctuations. On the market front, a report from BloombergNEF forecasts that Europe will need about 89,000 kilometers (55,300 miles) of undersea power cables by 2040 to support the growing offshore wind sector. Currently, demand is outpacing the supply of cable-laying vessels, complicating efforts to meet these infrastructure needs. Major manufacturers including Prysmian, Nexans, and NKT are expanding operations, showcasing the competitive landscape as cable production ramps up to meet future requirements, say Bloomberg. Additionally, Nexans has unveiled an innovative cable prototype made with 99.5% recycled materials, aligning with sustainability goals to integrate more recycled copper into production by 2028. This reflects a broader industry trend towards sustainable practices among competitors, as companies seek to reduce their environmental impact while maintaining performance standards. Shifting focus to the broader economic landscape, BP has appointed Albert Manifold as its new chairman amidst pressures for strategic reform, highlighting ongoing shifts within major energy firms in response to market challenges. Meanwhile, Stellantis has reported a substantial net loss of €2.3 billion for the first half of 2025 and anticipates increased tariff impacts moving forward, demonstrating the intertwined nature of global trade policies and corporate financial health. In international affairs, The European Union is exploring a broader set of possible counter-measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to European diplomats.