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Dec 3 (Reuters) - Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins' crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said, citing people familiar with the matter. Venture capital company Digital Currency Group, which owns Genesis Trading and cryptocurrency asset manager Grayscale, owes $575 million to Genesis' crypto lending arm, Digital Currency Chief Executive Barry Silbert told shareholders last month. Gemini, which runs a crypto lending product in partnership with Genesis, has now formed a creditors' committee to recoup the funds from Genesis and its parent DCG, the report added. Genesis Global Capital suspended customer redemptions in its lending business last month, citing the sudden failure of crypto exchange FTX.
Team USA take on the Netherlands in the first knockout round of the round of Qatar World Cup Saturday. While the Dutch sailed through Group A without much drama the U.S. have performed above expectations, the midfield trio of Yunus Musah, Tyler Adams and Weston McKennie dominating against England and Iran. Making knockout play was a major achievement for the United States, which failed to qualify for the 2018 tournament in Russia.
Nearly two months after President Joe Biden vowed "there will be consequences" for Saudi Arabia’s actions to cut oil production, the U.S. is not actively considering any significant retaliatory actions against the kingdom, according to two U.S. officials. U.S. and Saudi relations hit a low point after Saudi Arabia pushed OPEC members to cut oil production by 2 million barrels per day at their Oct. 6 meeting. Officials, however, also anticipate calls for imposing a cost on Saudi Arabia to ramp back up if OPEC again cuts oil production. The Biden administration's about-face on the oil issue is not the first time it has failed to follow through on a threat to Saudi Arabia. In the lead-up to the 2020 election, Biden vowed to treat Saudi Arabia as a "pariah" state in response to the killing of Washington Post columnist Jamal Khashoggi.
If the deal is approved by Delta pilots, it is widely expected to act as a benchmark for contract negotiations at rivals United Airlines (UAL.O) and American Airlines (AAL.O). The Atlanta-based carrier's pilots have been working without a new contract for nearly three years after their old contract became amendable in December 2019, fueling frustration. In the draft agreement, Delta promises that pay rates of its pilots will exceed those at United and American by at least 1%. In a year of protests for the industry, pilots at all major U.S. carriers have been demanding higher wages and a better work-life balance. In its memo, Delta's pilot union said more than 25% of the value of the contract agreement is dedicated to quality-of-life related items.
Dec 3 (Reuters) - With the World Cup knockout phase having begun, here is an overview of the teams advancing to the last 16 at the tournament in Qatar:HOW DOES THE KNOCKOUT STAGE AT WORLD CUP 2022 WORK? * In the knockout stage the teams will play each other once, with the winning team going to the next round. There are total of four rounds: Round of 16, quarter-finals, semi-finals and final, which will take place on Dec. 18. * Australia claimed a spot in the last 16 as Group D runners-up with 6 points from wins over Tunisia and Denmark. * Croatia joined the last 16 after two goalless draws with Morocco and Belgium and a 4-1 victory over Canada.
USA soccer forward Christian Pulisic has been cleared to play in the team's round-of-16 game against the Netherlands, the U.S. Men's Soccer Team announced Friday. Brenden Aaronson replaced Pulisic in Tuesday’s game. The U.S. Men’s Soccer Team had described Pulisic’s status after the game as day-to-day. Pulisic, a Hershey, Pennsylvania, native who plays for Chelsea in the British Premier League, ranks as one of two players with the seventh-most goals — 21 — in USA soccer history. It's clear the U.S. Men's Soccer Team believes Pulisic's participation in Tuesday's game will be clutch.
[1/2] Delta Air Lines pilots, represented by the Air Line Pilots Association, protest outside Terminal 4 at JFK International airport in New York City, U.S., June 30, 2022. REUTERS/Shannon StapletonCHICAGO, Dec 2 (Reuters) - Delta Air Lines (DAL.N) has offered a 34% pay increase to its pilots over three years in a new contract, according to a draft agreement seen by Reuters. The pilots will get a raise of at least 18% raise on the date the contract is signed, another 5% after one year, 4% after two years and 4% after three years, it says. Delta pilots have been working without a new contract for nearly three years after their old contract became amendable in December 2019, fueling frustration. They voted overwhelmingly in October voted to authorize a strike if negotiators could not reach an agreement on the new contract.
Dec 2 (Reuters) - FTX's digital currency futures and clearinghouse LedgerX is up for sale and has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalshi, Bloomberg reported on Friday, citing people familiar with the matter. There could be over half a dozen other potential buyers for the crypto derivatives exchange, the people told Bloomberg, adding that some of the interested parties have signed non-disclosure agreements. Blockchain.com, Gemini and Bitpanda did not immediately respond to Reuters' request for comment, while Kalshi could not be reached for comment. FTX US acquired it last year to expand into crypto futures and options trading. Reporting by Jyoti Narayan in Bengaluru; Editing by Sandra Maler and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.
Mexico, U.S. plan pitch by early 2023 to lure firms from abroad
  + stars: | 2022-12-03 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Mexico's economy Minister Raquel Buenrostro smiles during an event with business association representatives to discuss targets for "Black Friday" shopping season, in Mexico City, Mexico, October 19, 2022. REUTERS/Edgard GarridoMEXICO CITY, Dec 2 (Reuters) - Mexican Economy Minister Raquel Buenrostro and U.S. Secretary of Commerce Gina Raimondo on Friday agreed to set out a plan by early 2023 for the relocation of companies from Asia to North America, Mexico's government said. On Thursday, Buenrostro discussed efforts to resolve a bilateral spat over Mexico's energy policies with U.S. Trade Representative Katherine Tai. Tai also stressed the importance of avoiding disruptions in U.S. corn exports to Mexico. Reporting by Mexico City Newsroom Editing by Dave Graham and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.
FBI Director Chris Wray said on Friday that he has national security concerns about TikTok, per AP News. Wray warned that China could use TikTok to collect user data for espionage operations, AP News said. He added that China could collect users' data for traditional espionage operations, the news agency reported. TikTok said in June that it started routing American users' data via US-based servers owned by Oracle, per The Verge. However, BuzzFeed News reported that US user data was still being repeatedly accessed from China.
Ukraine urges tougher Western squeeze on Russian oil prices
  + stars: | 2022-12-03 | by ( ) www.cnbc.com   time to read: +1 min
The office of Ukrainian President Volodymyr Zelenskyy called Saturday for a lower price cap on Russian oil than the one agreed to by Ukraine's Western supporters, while Russian authorities called the $60-per-barrel cap harmful to free, stable markets. The cap is set to take effect Monday, along with an EU embargo on Russian oil shipped by sea. "It would be necessary to lower it to $30 in order to destroy the enemy's economy faster," Yermak wrote on Telegram, staking out a position also favored by Poland — a leading critic of Russian President Vladimir Putin's war in Ukraine. The Russian Embassy in Washington insisted that Russian oil "will continue to be in demand" and criticized the price limit as "reshaping the basic principles of the functioning of free markets." A post on the embassy's Telegram channel predicted the per-barrel cap would lead to "a widespread increase in uncertainty and higher costs for consumers of raw materials."
Delta Air Lines and its pilots' union have reached a preliminary agreement for raises topping 30% over four years, a milestone deal that could sharply drive up aviators' pay across the industry. Delta pilots voted in October to authorize a strike if a deal wasn't reached, while pilots at several airlines have picketed this year demanding contract improvements. Delta and the union were edging toward a deal in mid-November, CNBC reported. It also includes a one-time payment of 4% of 2020 and 2021 pay each, plus 14% of 2022 pay. The Delta agreement said pay rates will exceed United's and American's pay by at least 1% over the course of the agreement, which still needs union and pilot approval.
Macron says "no panic" about possible French power cuts
  + stars: | 2022-12-03 | by ( ) www.reuters.com   time to read: +1 min
PARIS, Dec 3 (Reuters) - French President Emmanuel Macron said there was no reason to panic about possible power cuts this winter, but he called on citizens to use less energy and on state utility EDF to restart nuclear reactors to prevent outages in case of cold weather. In an interview with French TV station TF1 recorded during his state visit to the United States this week, Macron denied that the risk of rolling blackouts was due to inadequate management of EDF's (EDF.PA) nuclear reactor restart programme. It is legitimate for the government to prepare for the extreme cases which would mean cutting off electricity for a few hours per day if we did not have enough power," Macron said. The head of French power grid operator RTE said on Thursday that France may face "some days" of power cuts this winter and the government has started briefing local authorities on how to handle any outages. Reporting by Geert De Clercq; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.
PARIS, Dec 3 (Reuters) - The West should consider how to address Russia's need for security guarantees if President Vladimir Putin agrees to negotiations about ending the war in Ukraine, French President Emmanuel Macron said in remarks broadcast on Saturday. In an interview with French TV station TF1 recorded during his state visit to the United States last week, Macron said Europe needs to prepare its future security architecture. "This means that one of the essential points we must address - as President Putin has always said - is the fear that NATO comes right up to its doors, and the deployment of weapons that could threaten Russia," Macron said. Ukraine says negotiations are possible only if Russia stops attacking and pulls out its troops. The United States said at the time that the Russian demands were "non-starters".
ANKARA, Dec 3 (Reuters) - Sweden on Friday extradited a Kurdish man with alleged links to terrorism to Turkey as Ankara keeps up pressure on the Nordic country to meet its demands in return for NATO membership, Turkish state news agency Anadolu reported on Saturday. Mahmut Tat had sought asylum in Sweden in 2015 after being sentenced in Turkey for six years and 10 months for alleged links to the Kurdish militant group the PKK. Turkish state television TRT said Tat was sent to an Istanbul prison on Saturday. Turkey said on Wednesday that Sweden and Finland had made progress towards NATO membership but that they still needed to do more to satisfy Ankara's demands on tackling terrorism. Others wanted by Ankara are people with alleged links to Fethullah Gulen - a Turkish cleric who lives in the United States and is accused of orchestrating 2016 failed coup attempt against Erdogan.
Striker Memphis Depay got the first goal as the Netherlands advanced to a seventh World Cup quarter-final. “We also lost a lot of ball possession, and it is not acceptable at a World Cup, especially if you are playing a top-level team,” he said. ALMOST IDENTICALThe second Dutch goal, on the stroke of halftime, was almost identical. “They were fantastic goals, they had a beauty about them but they were also team goals,” said Van Gaal. “We talked about the game being about moments," said U.S. coach Gregg Berhalter, whose country co-host the 2026 World Cup.
Dec 3 (Reuters) - Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap the price of Russian seaborne oil at $60 a barrel, as they aim to limit Moscow's revenues and curb its ability to finance its invasion of Ukraine. Russian President Vladimir Putin and high-ranking Kremlin officials have repeatedly said that they will not supply oil to countries that implement the price cap. "Regardless of the current flirtations with the dangerous and illegitimate instrument, we are confident that Russian oil will continue to be in demand." The G7 price cap will allow non-EU countries to continue importing seaborne Russian crude oil, but it will prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for less than the price cap.
DOHA, Dec 3 (Reuters) - The Netherlands became the first country into the World Cup quarter-finals as they beat the United States 3-1 at the Khalifa International Stadium on Saturday. Substitute Haji Wright scrambled in a reply for the United States in the 76th minute to give the Americans hope but Denzel Dumfries's volley sealed a seventh quarter-final appearance for the Dutch. Dumfries then played a carbon copy ball for Blind to make it 2-0 and put his side in cruise control. Wright bundled home from a Christian Pulisic cross but Dumfries crowned a great display to finish off the Americans. Reporting by Martyn Herman; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
Dumfries delivers as Dutch head into last eight
  + stars: | 2022-12-03 | by ( Mark Gleeson | ) www.reuters.com   time to read: +3 min
It was another Dutch performance at the Qatar World Cup that will not please their demanding supporters as they were unusually cautious at times, played at a slow tempo, and lived dangerously by allowing the Americans plenty of possession. The response from the Dutch was swift. The lively start was quickly replaced with a more languid passage of play, the Netherlands sitting back as they waited for counter-attack chances. Those misses were swiftly punished as the Dutch broke again down the right and scored a carbon copy of the first goal when Dumfries pulled back his cross for 32-year-old left back Blind to score in his 98th international. Reporting by Mark Gleeson; Editing by Angus MacSwan and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.
On Friday, G7 nations and Australia agreed a $60 per barrel price cap on Russian seaborne crude oil in a move to deprive President Vladimir Putin of revenue while keeping Russian oil flowing to global markets. OPEC virtually met on Saturday without allies such as Russia and discussed mostly administrative matters, sources said. The ministers did not discuss the Russian price cap. Five OPEC+ delegates said on Saturday the OPEC+ meeting on Sunday would likely approve a policy rollover. On Friday, two separate OPEC+ sources said a further output cut was not completely off the table given concern about economic growth and demand.
A top state security body meanwhile said that 200 people, including members of the security forces, had lost their lives in the unrest, a figure significantly lower than that given by the world body and rights groups. Amirali Hajizadeh, a senior Revolutionary Guards commander was quoted as saying on Monday that 300 people, including security force members, had been killed in the recent unrest. Javaid Rehman, a U.N.-appointed independent expert on Iran, said on Tuesday that more than 300 people had been killed in the protests, including more than 40 children. Rights group HRANA said that as of Friday 469 protesters had been killed, including 64 minors. "The people's protest has shown that the policies of the last 43 years have reached a dead end," he said in late November.
Ronaldo, Portugal’s captain, said the comments he made as he left the field in the 65th minute were in fact aimed at a South Korean player. “What happened was before my substitution, the South Korea player told me to get off quickly. The 37-year-old is seeking to equal the Portuguese record of most World Cup goals held by Eusebio, who racked up nine in 1966 in England, the only World Cup tournament he played in. Fu Tian/China News Service/Getty ImagesSantos, asked by reporters about the substitution incident, also said a South Korean player had been aggressive in his comments towards the five-time Ballon d’Or winner. We wanted to go through with a win, we wanted to go through playing good football to keep boosting our confidence,” Santos said.
REUTERS/Thomas PeterSHANGHAI, Dec 3 (Reuters) - China has started taking steps to ease its zero-COVID policy, fuelling a mix of relief and worry as the public waits to see the health consequences, and impact on the medical system, of a full-blown exit. Researchers have analysed how many deaths the country could see if it pivots to a full reopening, with most pointing to the country's relatively low vaccination rates and lack of herd immunity as some of its most vulnerable spots. As of Friday, China reported 5,233 COVID-related deaths and 331,952 cases with symptoms. They forecasted that peak demand on intensive care would be more than 15 times capacity, causing roughly 1.5 million deaths, based on worldwide data gathered about the variant's severity. The company said it modelled its data on Hong Kong's BA.1 wave in February, which occurred after the city eased restrictions after two years.
[1/5] Soccer Football - FIFA World Cup Qatar 2022 - Round of 16 - Netherlands v United States - Khalifa International Stadium, Doha, Qatar - December 3, 2022 United States players applaud fans after the match as United States are eliminated from the World Cup REUTERS/Annegret HilseAL RAYYAN, Qatar, Dec 3 (Reuters) - The United States exited the World Cup with a Round of 16 loss to the Netherlands on Saturday but looking towards the 2026 horizon, a bright future is rising for the young Americans. With defender DeAndre Yedlin, who played in Brazil in 2014, the only link to the country's World Cup past, the Americans' lack of experience was glaring at moments but offset by exuberance and a breathless work rate. A gritty, politically charged win over Iran and draws against England and Wales carried the United States into the last 16 but more will be expected on home soil. "We're just not there yet, we have to use this World Cup to establish ourselves. The loss to the Netherlands underscored the hard work ahead if the Americans plan to venture beyond the Round of 16 in 2026.
The High Ambition Coalition of over 40 countries, including EU members, Switzerland, host Uruguay and Ghana, wants the treaty to be based on mandatory global measures, including curbs on production. That approach contrasts with the country-driven pledges advocated by countries including the United States and Saudi Arabia. Critics say such an approach would weaken a global treaty. Industry representatives at the talks touted the essential role of plastics in daily life, calling for the treaty to focus tackling waste rather than measures to sap production. Environmental group Greenpeace said that without a strong treaty, plastic production could double within the next 10 to 15 years, and triple by 2050.
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