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☆ Preliminary results project Claudia Sheinbaum to become Mexico’s first female president
▼ + stars: | 2024-06-03 | by ( Tara John | ) edition.cnn.com time to read: +4 min

CNN —Mexico is set to elect its first female president, with preliminary results showing Claudia Sheinbaum, Mexico City’s former mayor and climate scientist, is on track to win the country’s largest election in history. The 61-year-old rode the wave of popularity of her longtime political ally, the outgoing leftist Mexican President Andrés Manuel López Obrador, and their Morena party. Not only is she set to be Mexico’s first female president, Sheinbaum will also be the country’s first leader of Jewish heritage, although she rarely speaks publicly about her personal background and has governed as a secular leftist. Supporters of Claudia Sheinbaum celebrate during an election rally in Mexico City on June 2, 2024. If the court validates the election, Sheinbaum will take office on October 1.

Persons: Claudia Sheinbaum, Sheinbaum, Andrés Manuel López Obrador, Xóchitl Gálvez, Jorge Álvarez Máynez, Sheinbaum’s, Luis Antonio Rojas, Jesús María Tarriba Unger, López Obrador, coy Organizations: CNN, National Electoral Institute, National Action, Institutional Revolutionary, Democratic Revolution, Citizens ’ Movement, Bloomberg, Getty, Morena, Mexico City, Judicial, Federation Locations: Mexico, Morena, Mexico City

Jacob Garcia/ReutersPolls in Mexico are set to close at 6 p.m. local time. More than 98 million voters are registered to cast a ballot in Mexico, and 1.4 million Mexicans are eligible to vote abroad. How voting has unfolded so far: Polls opened at 8 a.m. local time, however, on Sunday, some voting stations in parts of the country opened with delays. Outside polling stations, voters told CNN that public security was one of their main concerns. US officials are closely monitoring the presidential election as it comes at a critical time for the Biden administration.

Persons: Jacob Garcia, Claudia Sheinbaum, Xochitl, Jorge Álvarez Máynez, “ Morena, Gálvez, Biden Organizations: Reuters, Morena, PAN, ’ Movement, CNN, Electoral Institute, Mexican Consulate Locations: San Juan Chamula, Mexico, Mexico City, Yucatán, Madrid, Spain, United States, Mexican, Los Angeles

CNN —Mexicans headed to the polls on Sunday to vote in a historic election expected to return the country’s first woman president. More than 98 million voters are registered to cast a ballot in Mexico, and 1.4 million Mexicans are eligible to vote abroad. Mexico's opposition presidential candidate Xochitl Gálvez outside a polling station in Mexico City on June 2, 2024. Outside polling stations, voters told CNN that public security was one of their main concerns. Jorge Luis Plata/ReutersUS officials are closely monitoring the presidential election as it comes at a critical time for the Biden administration.

Persons: Claudia Sheinbaum, Xochitl, Jorge Álvarez Máynez, Andrés Manuel López Obrador, Sheinbaum, ” Gálvez, Luis Cortes, ”, Jorge Luis Plata, Biden, CNN’s Michelle Velez, Priscilla Alvarez Organizations: CNN, Morena, PAN, ’ Movement, Reuters, Electoral Institute, coy, Republicans, Biden, Homeland Security Locations: Mexico, Mexico City, Yucatán, San Bartolome Quialana

☆ U.S. Visitors Push Portugal's Foreign Tourism to Record in November
▼ + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

LISBON (Reuters) - Almost 140,000 visitors from the United States brought the number of foreign tourists in Portugal to a record high last November, the National Statistics Institute (INE) said on Monday. Overall, 1.1 million foreigners travelled to Portugal in November, a record number for that month. Spaniards and Britons came second and third, with 131,000 and 124,000 travellers respectively, INE said in its monthly report. The number of U.S. tourists has grown significantly in recent years as they increasingly find the southern European country cheap, sunny and safe. Tourism, a key driver of Portugal's economy, accounted for almost 15% of gross domestic product before the pandemic.

Persons: Patrícia Vicente Rua, Inti Landauro, Alex Richardson Organizations: National Statistics Institute, Britons Locations: LISBON, United States, Portugal, Tourism

☆ Few things worry NATO like Russia's Yasen-class submarines, and Moscow may be planning to build even more of them
▼ + stars: | 2023-12-05 | by ( Christopher Woody | ) www.businessinsider.com time to read: +6 min

Despite high-profile losses, Russia's navy has been largely untouched by the war in Ukraine. Russian submarines, especially Yasen-class cruise-missile subs, are a top concern for NATO. A Russian defense industry source told state media outlet Tass in mid-2022 that Moscow was considering adding two more subs to the nine Yasen-class subs it had planned to build. AdvertisementYasen-class sub Severodvinsk during its launch ceremony at a shipyard in the city of Severodvinsk in June 2010. AdvertisementRussian Yasen-class sub Kazan at its home base in Severomorsk in June 2021.

Persons: —, Sasha Mordovets, Glen VanHerck, Lev Fedoseyev, Ine Eriksen Søreide, Jim Mattis, Severodvinsk, Adm, Michael Studeman, LPhot Dan Rosenbaum, Ben Key, what's Organizations: NATO, Service, Tass, US Northern Command, Zircon, Getty, Naval Sea Systems Command, US, Pentagon, CBS News, Chatham, of Naval Intelligence, Russia's, British Royal Navy, US Navy, British navy's Locations: Ukraine, Russian, Russia, Moscow, Northern, Pacific, Severodvinsk, Europe, North America, Severomorsk, Washington DC, NATO, Soviet, Western

☆ Analysis-In Mexico, Gender Balance Push Puts Political Parties in Unfamiliar Bind
▼ + stars: | 2023-11-18 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

Since 2018, Congress has been split 50-50, and nine of 31 state governors are now women - up from only one woman state governor five years ago. SET IN STONEThe push that also saw Lopez Obrador opt for gender parity in his first cabinet has ushered in a broader shift that looks very likely to yield Mexico's first woman president next year. Carla Humphrey, an INE commissioner who has helped lead the charge for equal representation, said the watershed dates back to gender parity recommendations enshrined in law in the 1990s. They were buttressed by 2012 changes that meant parties could have candidates disqualified if the rules were not met. Since 2019, Mexico's constitution requires gender parity in all elected positions.

Persons: David Alire Garcia, Clara Brugada, Omar Garcia Harfuch, Andres Manuel Lopez, Brugada, Garcia Harfuch, Violeta Vazquez, Rojas, " Vazquez, MORENA, Olga Sanchez Cordero, Lopez, Carla Humphrey, We've, Humphrey, Margo Glantz, Sor Juana Ines de la Cruz, Evelyn Salgado, Glantz, Salgado, Hurricane Otis, Dave Graham Organizations: David Alire Garcia MEXICO CITY, Mexico City mayoral, Regeneration, Mexico City, Senate Locations: Mexico, MORENA, Mexican, Oaxaca, America, Caribbean, Guerrero, Hurricane, Acapulco

LME copper stocks and Cash-3s time-spreadSUMMER SURGEAlmost 100,000 metric tons of copper have been warranted in the LME warehouse network since the middle of July, lifting headline stocks to 149,600 metric tons. European inflows have been split between Rotterdam (19,325 metric tons) and the German port of Hamburg (9,850). The CME's delivery locations, however, don't include Mobile, Alabama, where LME copper stocks have grown to 1,925 metric tons. The amount of cancelled stock awaiting physical load-out from the LME warehouse system currently stands at a minimal 225 metric tons. LME, LME shadow, CME, ShFE and INE copper stocksCHINA OFFSETThe copper stocks surge has to date been largely confined to the LME delivery system.

Persons: Emelia Sithole Organizations: London Metal Exchange, Mobile, CME, Shanghai Futures Exchange, International Energy Exchange, Shanghai, Reuters, Thomson Locations: Europe, United States, China, Rotterdam, Hamburg, Asia, Kaohsiung, Busan, New Orleans, Mobile , Alabama, London, ShFE, CHINA

A company logo of Shanghai Futures Exchange is displayed at a booth during LME Week Asia in Hong Kong, China June 14, 2016. REUTERS/Bobby Yip Acquire Licensing RightsBEIJING/LONDON, Sept 13 (Reuters) - The Shanghai Futures Exchange (ShFE) is looking into the possible launch of nickel futures for international use, a potential challenge to the London Metal Exchange's (LME) contract, five sources with knowledge of the matter told Reuters. Average daily LME nickel volumes plunged because of the crisis. CME Group (CME.O) is also looking to launch a nickel contract that would settle against prices gathered from a platform to be launched by British-based Global Commodities Holdings (GCH). CME did not respond to a request for an update on its plans for a nickel contract.

Persons: Bobby Yip, ShFE, Nickel, GCH, Pratima Desai, Siyi Liu, Julian Luk, Veronica Brown, Alexander Smith Organizations: Shanghai Futures, REUTERS, Rights, Shanghai Futures Exchange, London, Reuters, International Energy Exchange, CME, Global Commodities Holdings, Thomson Locations: Asia, Hong Kong, China, Rights BEIJING, LONDON, British, Singapore, Abaxx

☆ Foreign tourism to Portugal registers best-ever first half
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

LISBON, Aug 14 (Reuters) - The number of foreign tourists visiting Portugal surpassed eight million in January-June, making it the best first half on record, official data showed on Monday. Tourism, a key driver of Portugal's economy, accounted for almost 15% of gross domestic product before the pandemic. Visitors from Britain made up the largest share of total arrivals in the first half, with over one million visitors, closely followed by the Spanish and U.S. markets. In June, the United States, which has significantly grown as a source of tourism to Portugal, represented the second-largest group of foreign visitors. ($1 = 0.9142 euros)Reporting by Patrícia Vicente Rua; Editing by Andrei Khalip and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Patrícia Vicente Rua, Andrei Khalip, Bernadette Baum Organizations: National Statistics Institute, Spanish, International Air Transport Association, Thomson Locations: LISBON, Portugal, Britain, U.S, United States, Southern Europe

☆ Here's why the restart of student loan payments won't end up dragging down the economy
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The upcoming restart of student loan payments shouldn't drag down the economy, according to Ned Davis Research. About 46 million holders of $1.77 trillion in student loan debt are expected to resume payments in October for the first time since March 2020. Don't expect the upcoming restart of student loan payments to drag down the US economy, according to Ned Davis Research. Student loan payments are expected to restart in October for the first time since the start of the pandemic in March 2020. And excess consumer savings could more than cover the upcoming resumption of student loan payments, according to NDR.

Persons: Ned Davis, Dimitrova Organizations: Ned Davis Research, NDR, Federal Reserve, Dimitrova

☆ French, Spanish economies grow at sustained pace in second quarter
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

PARIS/MADRID, July 28 (Reuters) - The French and Spanish economies grew at a sustained pace in the second quarter on the back of stronger exports and tourism, statistics agencies said on Friday, auguring a possible euro zone rebound. France's gross domestic product expanded in the second quarter a faster-than-expected 0.5% from the preceding quarter, while the Spanish economy grew 0.4%, according to data from INSEE and INE, as the French and Spanish statistics agencies are respectively known. The data from French and Spanish economies, respectively the euro zone's second- and fourth-largest, bode well after the euro zone's growth was 0% in the first quarter of this year. The French economy sped up from a revised 0.1% in the first quarter, INSEE said in its quarterly GDP report. Unlike France and Spain, Austria, a much smaller economy, shrank 0.4% in the second quarter due to a slowdown in construction and industry.

Persons: auguring, Bruno Le Maire, bode, Nadia Calvino, Tassilo Hummel, Inti, Dominique Vidalon, Christopher Cushing, Nick Macfie Organizations: PARIS, Finance, RTL, Thomson Locations: MADRID, Spanish, Spain, France, Austria

☆ Protest returns to Peru with fresh demands against official impunity and fears about the economy
▼ + stars: | 2023-07-18 | by ( Karol Suarez | ) edition.cnn.com time to read: +8 min

Yet many of the protesters’ key demands, such as the resignation of President Dina Boluarte, early elections, and the closure of Congress, remain unanswered. Anger over accountability is what’s driving the new protests, Omar Coronel, a sociologist from the Pontifical Catholic University of Peru, told CNN. At the minimum, a democracy leads to “some kind of political sanction” for protest deaths. At least 24,000 police officers are being mobilized to watch what has been dubbed the “takeover of Lima” protest. What people want is to work and that the businesses and the economy not to come to a standstill,” political analyst Álvarez Rodrich said.

Persons: ” Alex Mendoza, Pedro Castillo, Dina Boluarte, Mendoza, ”, “, Ernesto Benavides, ’, Castillo, Boluarte, Anger, Omar Coronel, Marisol Perez Tello, ” Ivette, Vicente Romero, Perez Tello, ” Perez Tello, Cris Bouroncle, ” Augusto Álvarez Rodrich, Coronel, Ronderos, –, ’ ” Coronel, Álvarez Rodrich, ” Jacinto Amansio López Delgado, ” López Organizations: Peru CNN, CNN, Getty, Pontifical Catholic University of Peru, ”, “, Commerce Locations: Lima, Peru, AFP, Ivette, Peruvian, ’ Lima, ”

LONDON/BEIJING, July 13 (Reuters) - The Shanghai Futures Exchange (ShFE) is looking to expand its commodities warehousing network outside China, and is examining systems and regulations in the sector overseas, three sources with direct knowledge of the matter told Reuters. China, the world's largest consumer and producer of industrial metals such as copper, wants domestic players to be able to exert more influence over prices, the sources said. To achieve that, two of the sources said, it launched an international copper futures contract in November 2020 on the Shanghai International Energy Exchange (INE). KEY DIFFERENCESSources say there are a couple of major differences between the way warehousing works in China and the rest of the world. Outside China, metal is insured by its owner and the warehouse company is typically only liable if it was proved negligent.

Persons: ShFE, Pratima Desai, Veronica Brown, Jan Harvey Organizations: LONDON, Shanghai Futures Exchange, Reuters, bourse, London Metal Exchange, Shanghai International Energy Exchange, Hong Kong Exchanges, HK, South East, Thomson Locations: BEIJING, China, United States, Europe, Asia, The London, LME, Singapore, Thailand, South East Asia

LONDON, June 27 (Reuters) - There's a renewed scramble for copper sitting in London Metal Exchange (LME) warehouses. Headline LME copper stocks have slid from 100,100 tonnes to 77,050 over the last three weeks despite almost 30,000 tonnes of arrivals. The drain on LME copper stocks is puzzling given weakening manufacturing activity in both Europe and the United States. It wouldn't be the first time that the LME stocks signal has been refracted, and the lower the stocks, the easier it is to bend the light. The Shanghai exchange has experienced tightness across the front part of the curve since March, with time-spreads now also the widest since November.

Persons: Boliden's, Copper, Jan Harvey Organizations: London Metal Exchange, LME, U.S ., CME, Shanghai Futures Exchange, Shanghai Futures, ShFE's, International Energy Exchange, Shanghai Metal, Reuters, Thomson Locations: Europe, United States, U.S, London, ShFE, INE, Shanghai, China, Asia

☆ Mexico's top court strikes down part of electoral overhaul
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 22 (Reuters) - Mexico's Supreme Court ruled in a lopsided vote on Thursday to strike down part of a legislative overhaul of the country's electoral authority which was championed by President Andres Manuel Lopez Obrador. Nine of the court's 11 justices voted to invalidate the reform, the court announced on Twitter, which overall would significantly shrink Mexico's national electoral institute INE and cut its budget. Critics of the reform drive counter that the electoral shake-up would cede power to state and local officials, many of whom are currently affiliated with Lopez Obrador's Morena party. In March, Lopez Obrador said he will seek a vote on a broader electoral reform just before leaving office, if Morena and its allies can win a supermajority in the next Congress which would be needed to enact constitutional changes. Reporting by Raul Cortes Fernandez and Valentine Hilaire; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

Persons: Andres Manuel Lopez Obrador, Lopez Obrador, Lopez Obrador's, Raul Cortes Fernandez, Valentine Hilaire, David Alire Garcia Organizations: MEXICO CITY, Twitter, Thomson Locations: MEXICO, Lopez Obrador's Morena, Morena

Outright short positions have mushroomed by 68% to 58,157 contracts in the space of three weeks. Outright long positions have been scaled back to 41,987 contracts, almost half the level of the February peak when investors were betting on a full-throttle post-COVID recovery in China. Fund managers are now net short of CME copper to the tune of 16,170 contracts, the largest collective bear bet since August last year. Investment funds have slashed their net long positioning from 25,737 contracts on April 14 to just 4,813 contracts as of May 5. Investment funds slash LME copper long positions as mood turns bearishWEAK RECOVERYChina's recovery from the stringent zero-COVID policy of last year has so far fallen short of expectations from a metals perspective.

☆ Mexico president slams 'rotten' judiciary after electoral reform setback
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 9 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Tuesday criticized the country's judiciary as "rotten," one day after the Supreme Court invalidated part of a set of electoral reforms he had championed. The Supreme Court on Monday voted 9-2 to strike down a measure curbing elections authority INE's ability to police political communications. Critics of the elections overhaul have warned it will weaken democracy in a country set to hold presidential elections next year. Lopez Obrador has frequently attacked the agency, saying it allowed voter fraud to rob him of the 2006 and 2012 presidential elections. He has also squared off with Supreme Court justices, arguing they do not represent the people in the way lawmakers do.

☆ Mexico's top court invalidates part of president's electoral reform
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 8 (Reuters) - Mexico's Supreme Court on Monday struck down part of an electoral overhaul championed by President Andres Manuel Lopez Obrador that curbs the power of the country's elections authority, which the leftist leader has repeatedly attacked. A separate part of the legislative reform, which slashes the budget and staffing at the National Electoral Institute (INE), is still being evaluated by the tribunal. In March, the court temporarily suspended other parts of the overhaul, citing violations of citizens' political rights. Lopez Obrador says he was twice robbed of the presidency before he won by a landslide in the 2018 election, and argues the INE is too expensive and biased in favor of his opponents. Tens of thousands of protesters took to the streets in February after lawmakers approved the reform, in one of the largest protests so far against Lopez Obrador's 4-1/2 year-old administration.

China's refined copper imports and exportsIMPORT SLUMPChina imported 408,174 tonnes of copper in March, down by 19% year-on-year and the lowest monthly intake since October. The preliminary customs report aggregates arrivals of refined metal, anode, alloy and semi-manufactured products. The country also imported 1.8 million tonnes of recyclable materials, the largest amount since 2018, and a record 25.3 million tonnes of mined concentrates. National refined copper output rose by 11% year-on-year in January-February, according to the country's official statistics body. So far this year it seems to have lost its appetite for more refined copper.

LONDON, March 27 (Reuters) - Funds have dumped their bets on higher copper prices as the turbulence triggered by the collapse of Silicon Valley Bank continues to roil financial markets. The investment community has turned net short of CME copper for the first time in five months, while funds have cut their long exposure on the London Metal Exchange (LME). Investors' negativity towards Doctor Copper contrasts with the bullish headlines generated by the FT Commodities Global Summit. Investment funds bought into copper in January, the net long position expanding from 11,830 to 32,397 contracts at the end of the month. Bulls such as Trafigura and Goldman Sachs contend it's a very thin inventory cushion if China rediscovers its copper mojo.

☆ Mexico government to challenge Supreme Court suspension of electoral reform
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view of the Supreme Court building where Ministers elected a new President for the Supreme Court, in Mexico City, Mexico January 2, 2023.REUTERS/Henry Romero/File PhotoMEXICO CITY, March 26 (Reuters) - The Mexican government said Sunday it would challenge the Supreme Court's temporary suspension of parts of a controversial electoral reform pushed by President Andres Manuel Lopez Obrador. The Supreme Court on Friday halted parts of the reform, which was a scaled-down version of a failed constitutional reform originally sought. The court also confirmed it will consider a lawsuit from independent electoral institute INE that seeks to overturn it. The Supreme Court's statement said in its statement Friday that the case involved "the possible violation of citizen's political-electoral rights." The government has said the reform seeks to reduce the bureaucratic costs of elections and strengthen democratic principles.

☆ Mexicans Rally Nationwide Against President’s Electoral Overhaul
▼ + stars: | 2023-02-26 | by ( Juan Montes | ) www.wsj.com time to read: 1 min

Protestors say that the Mexican president’s overhaul of election systems threatens democracy. MEXICO CITY—Hundreds of thousands of Mexicans rallied across the country for the second time in less than four months against President Andrés Manuel López Obrador ’s overhaul of the country’s independent election agency, saying it will cripple its ability to organize next year’s presidential election. In one of the largest protests against Mr. López Obrador’s administration, more than 150,000 demonstrators filled Mexico’s large Zócalo square and adjacent streets in the historic district of the country’s capital, a senior police official said. Protesters waved flags, umbrellas and banners with the distinctive pink colors of the National Electoral Institute, also known as INE. Others wore pink caps and clothes.

☆ 'Playing with fire': Mass protest planned against Mexico electoral overhaul
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 26 (Reuters) - Mexico's opposition plans a mass protest on Sunday against President Andres Manuel Lopez Obrador's drive to shrink the independent electoral authority, arguing the changes threaten democracy - an accusation he vigorously denies. Mexico's Congress last week approved a major overhaul of the National Electoral Institute (INE), which Lopez Obrador has repeatedly attacked as corrupt and inefficient. According to the INE, the president's overhaul violates the constitution, curbs the institute's independence and eliminates thousands of jobs dedicated to safeguarding the electoral process, making it harder to hold free and fair elections. This week he called the INE "anti-democratic" and a tool of the ruling elite, accusing it of fomenting electoral fraud. Critics of the INE overhaul argue Lopez Obrador is not confident MORENA can retain power without interference in the electoral process.

☆ Mexico passes electoral overhaul that critics warn weakens democracy
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 22 (Reuters) - Mexican lawmakers on Wednesday approved a controversial overhaul of the body overseeing the country's elections, a move critics warn will weaken democracy ahead of a presidential vote next year. President Andres Manuel Lopez Obrador argues the reorganization will save $150 million a year and reduce the influence of economic interests in politics. The Senate approved the reform, which still needs to be signed into law by Lopez Obrador, 72 to 50. The INE has played an important role in the shift to multi-party democracy since Mexico left federal one-party rule in 2000. Lopez Obrador has repeatedly attacked the electoral agency, saying voter fraud robbed him of victory in the 2006 presidential election.

Surging Shanghai metal stocks have injected an element of doubt into the bull narrative and the LME Index is now showing year-to-date gains of only 3% after a February pull-back. Shanghai Futures Exchange stocks of aluminium, copper and zincSEASONAL SURGEMetals bulls have been nervously watching the fast build in Shanghai Futures Exchange (ShFE) stocks over the past few weeks. Copper stocks have grown equally dramatically, from 69,268 tonnes to 242,009 tonnes over the same period. It is currently assessed by Shanghai Metal Market at a bombed-out $22.50 a tonne, down from an October high of $152.50. WAIT AND WATCHIt's difficult to say until China's seasonal stocks pattern plays out in full.

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