New Nexans CFO, big Eni bets, and Google’s AI push - Nov 25, 2025

As of November 25, today’s news sees leadership changes in key industrial players, updates on energy investments, and relevant developments in the AI sector. Nexans announced today the appointment of Vincent Piquet as CFO, effective 19-Jan-26. He will join the Nexans Executive Committee and will be based in Paris. Turning to energy markets, noteworthy developments emerged from Egypt, where President Abdel Fattah el-Sisi engaged with Eni CEO Claudio Descalzi to discuss the company's significant 8 billion dpllars investment commitments in the country. Eni, as the operator of Egypt's Zohr offshore gas field, is focusing on expanding its upstream operations and aims to solidify Egypt's position as a key regional energy hub. This includes ongoing exploration efforts in the Mediterranean and enhancing infrastructure to maximize the longevity of older assets in the Sinai and offshore Nile Delta areas. In the United States, retail sales growth appears to be slowing down, with September's increase falling short of expectations. This reduction in consumer spending aligns with concerns over a sluggish labor market, which may continue to affect economic predictions for the upcoming quarter. Meanwhile, Stellantis chairman John Elkann has raised alarms about the potential "irreversible decline" facing the European auto industry unless the EU relaxes its stringent carbon emission regulations before a critical review set for December. Additionally, Lynas Rare Earths has signaled a production shortfall from its Kalgoorlie facility in Australia due to unexpected power supply issues, potentially impeding its efforts to increase output as global demand for rare earths rises. This production disruption comes at a crucial time for the company, which plays a significant role in the non-China rare earths market. On the technology front, Google is making headlines as it intensifies its efforts in the AI sector, unveiling its new multi-purpose AI model, Gemini 3, which has been positively received. The company is also reportedly engaged in discussions with Meta Platforms regarding the potential use of Google’s AI chips, indicating a strategic pivot that could position Google as a rival to Nvidia in data-center processors. From the international arena, peace talks concerning the ongoing conflict in Ukraine are underway between U.S. officials and Russian delegates in Abu Dhabi. This diplomatic engagement reflects an intensified effort to negotiate a resolution, although significant issues remain unresolved as Ukraine maintains a cautious stance.