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BRUSSELS/PARIS, July 13 (Reuters) - France's foreign minister and government minister have called EU antitrust chief Margrethe Vestager to reconsider her appointment of a U.S. economist and former antitrust official to a senior job at the European Commission overseeing Big Tech. Vestager on Tuesday announced the hiring of Fiona Scott Morton, the former chief economist at the U.S. Department of Justice during former President Barack Obama's tenure. Scott Morton will take up her post on Sept. 1 when the current chief economist, Pierre Regibeau, retires. French foreign minister Catherine Colonna said she was astonished at the appointment. "I invite the @EU_Commission to reconsider their choice."
Persons: Margrethe Vestager, Fiona Scott Morton, Barack Obama's, Scott Morton, Pierre Regibeau, Catherine Colonna, Jean, Noel Barrot, Foo Yun Chee, Conor Humphries Organizations: European Commission, Big Tech, Vestager, Tuesday, U.S . Department of Justice, Charles River Associates, DG, Thomson Locations: BRUSSELS, PARIS, France, Europe
The deal builds out Exxon's plan to develop an emerging market that makes money from reducing its own and others' greenhouse gases. Carbon sequestration is the favored strategy for U.S. oil and gas companies to reduce emissions while continuing to expand oil and gas production. Last year, Exxon struck its first commercial carbon storage deal with top ammonia maker CF Industries. The Denbury deal "reflects our determination to profitably grow our low carbon solutions business," Exxon CEO Darren Woods said in a statement. The all-stock transaction represents a 1.9% premium to Denbury's Tuesday close at 0.84 Exxon shares for each Denbury share.
Persons: Raymond James, Pavel Molchanov, Denbury, Darren Woods, Sabrina Valle, Arathy, Arunima Kumar, Savio D'Souza, Shilpi Majumdar, Conor Humphries Organizations: Denbury, Exxon Mobil Corp, Denbury Inc, Exxon, Linde AG, CF Industries, Carbon Solutions, Thomson Locations: HOUSTON, Plano , Texas, U.S, Texas, Alabama, Houston, Bengaluru
CARACAS, July 13 (Reuters) - The European Court of Human Rights has denied an effort by a former director of Venezuelan military intelligence, wanted on drug trafficking charges by the United States, to avoid extradition from Spain. Carvajal was arrested in September 2021 at a Madrid apartment by Spanish police and is being held in Estremera, outside of the capital. He has denied supporting cocaine trafficking to the United States. "In any event, General Carvajal is looking forward to clearing his name in an American court," Margulis-Ohnuma added. Reporting by Luc Cohen and Vivian Sequera; Writing by Julia Symmes Cobb; Editing by Conor Humphries and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
Persons: Hugo Carvajal, Hugo Chavez's, Nicolas Maduro, Carvajal, Mr Carvajal Barrios, Zachary Margulis, General Carvajal, Luc Cohen, Vivian Sequera, Julia Symmes Cobb, Conor Humphries, Sandra Maler Organizations: European, of Human Rights, Thomson Locations: CARACAS, United States, Spain, Madrid, Estremera, Aruba
The Polish diplomat, who declined to be identified citing security concerns, confirmed the role of his advertisement in the digital intrusion. In 2021, U.S. and British intelligence agencies identified APT29 as an arm of Russia's foreign Intelligence Service, the SVR. "Diplomatic missions will always be a high-value espionage target," the Unit 42 report said. That software, Unit 42 said, was disguised as an album of photographs of the used BMW. As for the car, it was still available, the Polish diplomat told Reuters:"I'll try to sell it in Poland, probably," he said.
Persons: James Pearson, Conor Humphries Organizations: Reuters, Palo Alto Networks, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland
The Polish diplomat, who declined to be identified citing security concerns, confirmed the role of his advertisement in the digital intrusion. In 2021, U.S. and British intelligence agencies identified APT29 as an arm of Russia's foreign Intelligence Service, the SVR. "Diplomatic missions will always be a high-value espionage target," the Unit 42 report said. That software, Unit 42 said, was disguised as an album of photographs of the used BMW. As for the car, it was still available, the Polish diplomat told Reuters:"I'll try to sell it in Poland, probably," he said.
Persons: James Pearson, Conor Humphries Organizations: Palo Alto Networks, Reuters, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland
... Read moreSummaryCompanies Crucial tech sector hit by judicial reform crisisStartup funding falls 70%, emigration increasingTech execs take lead in opposing reformJERUSALEM, July 12 (Reuters) - A leading Israel investor on Wednesday predicted that the country's vital tech sector would recover quickly from its current funding downturn, in part by fighting a government judicial reform plan many blame for scaring away investment. A key driver of economic growth in Israel, the tech sector saw its funding hit last year by the global economic slowdown. "The big inventors are the warriors of democracy," Margalit told Reuters on the sidelines of a JVP Climate Tech conference. While the tech sector needs a stable Israeli economy, the economy needs a strong tech sector, which accounts for 14% of jobs and almost a fifth of gross domestic product. The fall off in tech funding has been a major factor in the weakening of the shekel , analysts say.
Persons: Erel Margalit, Benjamin Netanyahu's, Margalit, Barak Eilam, Eynat Guez, Israel's shekel, Steven Scheer, Conor Humphries Organizations: Jerusalem Venture Partners, AccorHotels Arena, Tech, Labour Party, Reuters, JVP Climate Tech, NICE, Tel, Thomson Locations: Paris, France, JERUSALEM, Israel, Israel's, Tel Aviv
[1/3] Greece's Prime Minister Kyriakos Mitsotakis meets with Turkey's President Tayyip Erdogan during a NATO leaders summit in Vilnius, Lithuania July 12, 2023. Dimitris Papamitsos/Greek Prime Minister's Office/Handout via REUTERSATHENS, July 12 (Reuters) - Greece and Turkey agreed on Wednesday to resume talks and confidence-building measures as they hailed a new "positive climate" in ties after more than a year of tensions between the historic foes. Relations improved when Greece became one of the first countries to send rescue workers to help pull survivors from the rubble after a devastating earthquake hit Turkey in February. "We are cautiously optimistic we can turn a new page," Mitsotakis told reporters after the summit. Reporting by Renee Maltezou; Additional reporting by Huseyin Hayatsever; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Kyriakos Mitsotakis, Tayyip Erdogan, Dimitris Papamitsos, Erdogan, Mitsotakis, Renee Maltezou, Huseyin Hayatsever, Conor Humphries Organizations: NATO, Minister's, REUTERS, Atlantic Treaty Organization, Greek, Cooperation, Thomson Locations: Vilnius, Lithuania, REUTERS ATHENS, Greece, Turkey, Cyprus, United States, Greek, Thessalonki
The spree of vandalism and arson by hundreds of settlers in several villages and towns in the occupied West Bank last month followed the June 20 killing of four Israelis by Hamas gunmen. Their goal was "to arouse fear or shock in the community through a grave blow to the sacrosanct," it said. The charges - including disorderly conduct, insulting religion, aggravated arson and aggravated assault - normally carry maximum prison terms ranging between three and 20 years. The Palestinian Foreign Ministry described the settler rampages as "state-sponsored terrorism". Israel's hard-right government includes ministers who chafe at attributing the term terrorism to settlers.
Persons: Dan Williams, Nick Macfie, Conor Humphries Organizations: West Bank, Palestinian Foreign Ministry, Thomson Locations: Orif, Umm Safa
NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. Prices for U.S. property catastrophe reinsurance rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a recent report. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. In May, American International Group (AIG.N) agreed the sale of its reinsurance arm Validus Re for roughly $3 billion, or about 1.4 times the unit's book value.
Persons: Reinsurers, Hurricane Ian, Gallagher Re, David French, Pablo Mayo, Amy, Jo Crowley, Carolyn Cohn, Echo Wang, Silvia Aloisi, John O'Donnell, Conor Humphries Organizations: AXA SA, XL, Covea, AXA, AXA XL, American International, Fidelis Insurance Holdings, Reuters, Hamilton Insurance, Pablo Mayo Cerqueiro, Thomson Locations: Bermuda, New York, London, Paris
LONDON, July 11 (Reuters) - Canada's biggest pension fund, CPP Investments, has made its first bet on green hydrogen playing a growing role in cutting emissions, with a 130 million euro ($143 million) investment and the purchase of a majority stake in a three-year-old Dutch firm. "Europe is generally seen as the leading industrial market or consumer for these green molecules. Power2X's current projects include a green hydrogen and ammonia development in Portugal and a solar power and green hydrogen project in Spain. Expanding green hydrogen production will require more renewable power generation, and some questions remain over its potential use cases versus other low-emission technologies. Last month Canada's Investment Management Corporation of Ontario announced a $400 million investment in Sweden's battery producer Northvolt.
Persons: Bruce Hogg, CPPI, Hogg, Occo Roelofsen, Tommy Reggiori Wilkes, Conor Humphries Organizations: Investments, Reuters, Investor, McKinsey, Investment Management Corporation of Ontario, Thomson Locations: Amsterdam, Europe, Portugal, Spain, Power2X
[1/3] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. The reduced production implies that in total Pemex will lose at least 2 million barrels of crude through the end of July, according to Reuters estimates. That means output from Pemex's offshore fields, from which the company extracts most of its oil, will be impacted in the meantime. MOUNTING CLAIMSCantarell, which produced more than 2 million bpd of oil two decades ago, currently produces about 170,000 bpd. Along with Ku-Maloob-Zaap, which contributes some 620,000 bpd from Pemex's northeastern marine region, they provide around 41% of the company's total production of 1.9 million bpd of crude and condensate.
Persons: Pemex, Ana Isabel Martinez, Conor Humphries Organizations: REUTERS, Ciudad del Carmen, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO, Ciudad
Ryan Crouse moved to Tokyo for college. After living in a dorm, he moved into a micro-apartment in Tokyo's Taishido neighborhood. The 172-square-foot space cost him $450 a month and had a lofted bed, living area, kitchen, and tiny bathroom. In May 2022, Crouse moved to Tokyo. Then, he spent a year in a 172-square-foot apartment in Tokyo's Taishido neighborhood before moving into a bigger space.
Persons: Ryan Crouse, Crouse, YouTubers Organizations: Service Locations: Tokyo, Tokyo's Taishido, Wall, Silicon, Japan, New York, Temple
WASHINGTON, July 6 (Reuters) - U.S. auto safety regulators said on Thursday they are seeking updated responses and current data for an ongoing probe into 830,000 Tesla vehicles and the automaker's advanced driver assistance system Autopilot. The agency is investigating the performance of Autopilot after identifying more than a dozen crashes in which Tesla vehicles struck stopped emergency vehicles. It is also investigating whether Tesla vehicles adequately ensure drivers are paying attention when using the driver assistance system. In June 2022, NHTSA upgraded the probe it first opened in August 2021 to an engineering analysis - a required step before it could potentially demand a recall. Since 2016, NHTSA has opened 40 Tesla special crash investigations where advanced driver assistance systems such as Autopilot were suspected of being used with 20 crash deaths reported.
Persons: Tesla, Pete Buttigieg, David Shepardson, Jason Neely, Conor Humphries Organizations: Traffic Safety Administration, NHTSA, Transportation, Thomson
WARSAW/PRAGUE, July 6 (Reuters) - Central European currencies are expected to weaken over the next 12 months with the Polish zloty taking the biggest hit, a Reuters poll showed, as higher inflation compared to the euro zone and the prospect of interest rate cuts weigh. But with Hungary's central bank having already started to loosen policy and more rate cuts predicted in the region this year, analysts expect currencies to fall. The forint is expected to fall 1.3% to 380.0 against the euro, according to the poll. "Although consumer prices in Romania are largely sensitive to the exchange rate, it could soon allow the central bank to let leu depreciate slightly." The Czech crown is forecast to weaken the least of the region's currencies, falling 0.1% to 23.775.
Persons: Marcin Sulewski, HUF, Peter Virovacz, Jakub Kratky, leu, Jason Hovet, Alan Charlish, Sunil, Veronica Khongwir, Sarupya Ganguly, Conor Humphries Organizations: National Bank of Hungary, European Union, ING, Thomson Locations: WARSAW, PRAGUE, Poland, Romanian, Romania, Prague, Warsaw
Record ocean temperatures lift Atlantic hurricane outlook
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
July 6 (Reuters) - Forecasters at Colorado State University for a second time raised their estimate for tropical storms during this year's Atlantic hurricane season, citing record warm sea surface temperatures. The group had last month raised its outlook to a near-normal season and number of storms. "Most of the tropical and subtropical Atlantic now has record warm sea surface temperatures," Colorado State's Tropical Meteorology and Climate Research group said in its latest update. The effect of El Nino, a weather phenomenon that suppresses Atlantic hurricane activity, this year has been offset by very hot ocean waters. "The high chance of a robust El Nino is why CSU's hurricane forecast is not for every more activity," wrote CSU researcher Phil Klotzbach.
Persons: El, Phil Klotzbach, CSU's, Gary McWilliams, Marguerita Choy, David Holmes, Conor Humphries Organizations: Colorado State University, Climate Research, CSU, El Nino, U.S . National Oceanic, Atmospheric Administration, Thomson Locations: Colorado
July 6 (Reuters) - Goldman Sachs on Thursday said the West may need more than $25 billion in investments to match China's supply of rare earths, as export curbs by Beijing on minor metals fuel fears that rare earths could be next. Europe and the U.S. are scrambling to wean themselves off rare earths from China, which account for 90% of global refined output. Concerns about supply were heightened this week by China's decision to impose export restrictions on two minor metals used in semiconductors and electric vehicles. The market was pushed into a surplus after China hiked its production quota for the first half of 2023 by 20%, Goldman said, cutting price forecasts for NdPr. Replicating China's 50,000 tons per annum output could cost the West anywhere between $15 billion and $30 billion, Goldman estimated.
Persons: Goldman Sachs, Goldman, Conor Humphries Organizations: Thomson Locations: Beijing, Europe, U.S, China, Bengaluru
Suspected Palestinian shooter kills Israeli in West Bank
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
NEAR KDUMIM SETTLEMENT, West Bank, July 6 (Reuters) - A suspected Palestinian assailant shot and killed an Israeli near a settlement in the occupied West Bank on Thursday, Israel's ambulance service said. Israel's Army Radio said the assailant had driven to the settlement from the direction of the nearby Palestinian city Nablus. The attack followed Israel's two-day operation earlier in the week in the northern West Bank city of Jenin, about 10 kilometres away, its biggest in years. Hamas, a Palestinian militant group that controls the Gaza Strip but also has a presence in the West Bank, praised Thursday's shooting which it said was a response to Israel's Jenin operation. Violence in the West Bank has escalated over the past 15 months, with increased Israeli raids, Palestinian street attacks and settler rampages in Palestinian villages.
Persons: Israel's, rampages, Maayan Lubell, James Mackenzie, Toby Chopra, Conor Humphries Organizations: West Bank, Israel's Army Radio, Thomson Locations: KDUMIM, West, Palestinian, Nablus, West Bank, Jenin, Gaza
PRAGUE, July 6 (Reuters) - Ukrainian President Volodymyr Zelenskiy landed in the Czech capital Prague on Thursday as part of a tour to drum up support for a fast track to NATO membership for Kyiv ahead of a summit next week. "At the meeting, the presidents should coordinate their positions before the NATO summit in Vilnius, where it is expected to discuss, among other things, security guarantees for Ukraine." His arrival follows a visit to Bulgaria for talks on security and the NATO summit. Zelenskiy's diplomatic adviser Ihor Zhovkva said Kyiv had secured the backing of Bulgaria for its membership of the military alliance "as soon as conditions allow. " During the visit, Zelenskiy urged Sofia to continue military support and moved to dispel the notion that supplies of Western weapons to his country had expanded the scale of the war.
Persons: Volodymyr Zelenskiy, Petr Pavel, Pavel, Zelenskiy, Ihor Zhovkva, Jason Hovet, Robert Muller, Ronald Popeski, Alan Charlish, Jonathan Oatis, Richard Chang, Conor Humphries Organizations: NATO, Kyiv, Ukraine, European Union, Air Force, Thomson Locations: PRAGUE, Czech, Prague, Ukraine, Vilnius, Russia, Czech Republic, Bulgaria, Sofia
July 5 (Reuters) - Russia accused a small U.S.-based charity on Wednesday of "sabotaging" the construction of a huge gas pipeline to China and banned it as an "undesirable organisation". Jennifer Castner, director of the Altai Project, described the accusation as absurd but said it had been only a matter of time. The Russian prosecutor general's office said that while claiming to advocate nature conservation, the Altai Project was meddling in Russia's internal affairs and could damage its economic security. "The key direction of the organisation's work is sabotaging the construction of the Power of Siberia-2 gas pipeline," it said. The planned pipeline is intended to deliver 50 billion cubic metres of natural gas per year from Russia to China via Mongolia.
Persons: Jennifer Castner, general's, Castner, Mark Trevelyan, Conor Humphries Organizations: WWF, Reuters, Thomson Locations: Russia, U.S, China, Altai, Siberia, Mongolia, Moscow, Ukraine, Beijing, Greater Altai, Kazakhstan
Russia and Ukraine on Tuesday accused each other of plotting to stage an attack on Europe's biggest nuclear power plant, where the International Atomic Energy Agency has repeatedly warned of potential catastrophe from nearby military clashes. "The IAEA experts have requested additional access that is necessary to confirm the absence of mines or explosives," it added. loadingIt was not clear from the IAEA statement why the agency wanted access to those two reactor units' rooftops. The IAEA said it was aware of reports that mines and other explosives have been placed in and around the plant. "With military tension and activities increasing in the region where this major nuclear power plant is located, our experts must be able to verify the facts on the ground," the IAEA said.
Persons: Francois Murphy, Alex Richardson, Conor Humphries Organizations: International Atomic Energy Agency, IAEA, British Ministry of Defence, Thomson Locations: VIENNA, Russian, Ukraine, Russia
[1/2] A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File PhotoBEIJING/SHANGHAI, July 4 (Reuters) - U.S. automaker Tesla (TSLA.O) and its chief Chinese rival BYD (002594.SZ) achieved record deliveries of their China-made vehicles in the second-quarter, China Passenger Car Association (CPCA) data showed, as a fight for market share heats up. Tesla reported record deliveries of 466,140 globally for the second quarter. This was also the first time BYD's monthly sales surpassed 250,000 units and meant that between April to June, BYD delivered 700,244 vehicles, the data showed. In June, Beijing announced 520 billion yuan ($71.67 billion) worth of purchase tax breaks on new-energy vehicles through the end of 2027.
Persons: Thomas Peter, Tesla, BYD, Qiaoyi Li, Zhang Yan, Brenda Goh, Christopher Cushing, Himani Sarkar, Conor Humphries Organizations: REUTERS, U.S, China Passenger Car Association, EV, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, Shanghai
ZURICH, July 4 (Reuters) - A Swiss proxy adviser representing some former Credit Suisse shareholders has backed a class-action lawsuit seeking a better price from UBS (UBSG.S) for its takeover of its cross-town rival, it said on Tuesday. Under the deal, sealed last month, Credit Suisse shareholders were offered one UBS share for 22.48 Credit Suisse shares, valuing the stricken bank at 3 billion Swiss francs ($3.35 billion). Just 48 hours before deal was struck, Credit Suisse was worth 7 billion francs, Ethos said. If successful, all Credit Suisse shareholders would benefit from the new exchange ratio, it said. Ethos has previously raised concerns about how the acquisition of Credit Suisse by UBS was carried out, particularly that the deal was forced through without consulting shareholders.
Persons: Vincent Kaufmann, LegalPass, FINMA, Kaufmann, Alexandre Osti, John Revill, Conor Humphries Organizations: Credit Suisse, UBS, Ethos Foundation, Credit, Suisse, Thomson Locations: ZURICH, Swiss, Lausanne, Zurich, LegalPass
SummarySummary Companies Aid workers cite Israeli access restrictionsIsrael says gunfire exchanges create risks for medicsGENEVA, July 4 (Reuters) - U.N. aid agencies on Tuesday voiced alarm at the scale of the ongoing Israeli military operation in the West Bank town of Jenin, where 10 Palestinians have been killed, saying there were restrictions on medical access. Damage to infrastructure caused by air strikes have cut off most of the water and electricity at the camp, she added. The Red Cross said it was "extremely concerned by the alarming intensification of armed violence" in Jenin. "Israel ensures that humanitarian assistance is provided and does not apply any limitation on access for medical staff, except in places where the lives of medical staff is at risk due to exchanges of fire," its diplomatic mission in Geneva said in a statement to Reuters. Reporting by Emma Farge; Editing by Matthias Williams, Rachel More and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Vanessa Huguenin, Christian Lindmeier, Israel, Emma Farge, Matthias Williams, Rachel More, Conor Humphries Organizations: GENEVA, West Bank, Palestinian, World Health Organization, MSF, Medical, Thomson Locations: Israel, West, Jenin, Geneva
A Palestinian wounded during the house-to-house clashes died overnight and another body was found in the morning, bringing the death toll to 10, with around 100 wounded, 20 of them critically, the Palestinian health ministry said. It was not immediately clear if the other five fatalities - males aged 17 to 23 - were combatants or civilians. The Israeli military said it had confirmation of nine Palestinians killed by its forces. [1/4]Debris lines a street amid an Israeli military operation, in Jenin, in the Israeli-occupied West Bank July 4, 2023. The United States said on Monday it respected Israel's right to defend itself but said civilian casualties should be avoided.
Persons: Israel, Benjamin Netanyahu, Tzachi Hanebi, Kan, Daniel Hagari, Mohamad Torokman, Mahmoud Abbas, Fatah, James Mackenzie, Raju Gopalakrishnan, Conor Humphries Organizations: West Bank, West, Islamic, National Security, Bank, REUTERS, Palestinian, United, United Nations, Thomson Locations: JENIN, West, Israel, West Bank, Jenin's, Jenin, United States, Islamic Jihad
BEIJING, July 4 - China has cancelled a trip by European Union foreign policy chief Josep Borrell scheduled for next week, an EU spokesperson said on Tuesday. "We want to engage with China but we need progress and we need it this year," Toledo said. In a prepared speech for delivery in Beijing in April, Borrell had said that EU cannot trust China if it does not seek peace in Ukraine. China has said it wants to broker a peace in Ukraine but its position paper released in February was met with lukewarm responses by both Russia and Ukraine. EU climate chief Frans Timmermans, who is in Beijing this week for environment talks, also failed to visit China in April because he caught COVID-19.
Persons: Josep Borrell, Nabila Massrali, Borrell, Jorge Toledo, Toledo, Frans Timmermans, COVID, Yew Lun Tian, Martin Quin Pollard, Conor Humphries, David Holmes Organizations: European Union, Reuters, Sunday, EU, Thomson Locations: BEIJING, China, Europe, Brussels, Beijing, Ukraine, Russia, EU
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