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☆ Oil muted as price cap proposal eases supply concerns
▼ + stars: | 2022-11-24 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

A bigger-than-expected build in U.S. gasoline inventories and widening COVID-19 controls in China also added downward pressure on crude prices. Both benchmarks plunged more than 3% on Wednesday on news the planned price cap on Russian oil could be above the current market level. European Union governments remained split over what level to cap Russian oil prices at to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock, with more talks possible on Friday if positions converge. A higher price cap could make it attractive for Russia to continue to sell its oil, reducing the risk of a supply shortage in global oil markets. Oil prices also came under pressure after the Energy Information Administration (EIA) said on Wednesday that U.S. gasoline and distillate inventories rose substantially last week.

☆ ECB's Schnabel pushes back on smaller rate hikes
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

However Schnabel, the most influential voice in the hawkish camp, said this was premature and could even prove counter-productive. "Incoming data so far suggest that the room for slowing down the pace of interest rate adjustments remains limited, even as we are approaching estimates of the 'neutral' rate," she told an event in London. "The extraordinarily large degree of uncertainty surrounding such estimates implies that they cannot serve as a yardstick to inform the appropriate pace of interest rate adjustments. Dutch governor Knot expressed doubts over market expectations for the ECB's deposit rate, currently at 1.5%, to peak at 3%. In all honesty, I'm not sure about that," Knot told a hearing at the Dutch parliament.

REUTERS/Yves HermanSummary Attack followed EU declaring Russia a state sponsor of terrorismBRUSSELS, Nov 23 (Reuters) - The European Parliament's website was unavailable for several hours on Wednesday due to a denial-of-service attack by "Pro-Kremlin" hackers, after its lawmakers designated Russia a state sponsor of terrorism, the institute's president said. The parliament's website was up again shortly after 1700 GMT, around two hours after the institution had reported the outage. "The European Parliament is under a sophisticated cyberattack. A pro-Kremlin group has claimed responsibility," European Parliament President Roberta Metsola said in a tweet shortly after the website went down. The move is largely symbolic, as the European Union does not have a legal framework in place to back it up.

☆ European Parliament declares Russia a state sponsor of terrorism
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Nov 23 (Reuters) - The European Parliament on Wednesday designated Russia as a state sponsor of terrorism, arguing Moscow's military strikes on civilian targets such as energy infrastructure, hospitals, schools and shelters violated international law. European lawmakers voted in favour of a resolution calling Russia a state sponsor of terrorism. Ukrainian President Volodymyr Zelenskiy has urged the United States and other countries to declare Russia a state sponsor of terrorism, accusing its forces of targeting civilians, which Moscow denies. U.S. Secretary of State Antony Blinken has so far refused to list Russia despite resolutions in both chambers of Congress urging him to do so. In the EU, the parliaments of four countries have so far designated Russia as a state sponsor of terrorism, according to the European Parliamentary Research Service: Lithuania, Latvia, Estonia and Poland.

BRUSSELS/BELGRADE, Nov 21 (Reuters) - The European Union on Monday warned of "escalation and violence" after Kosovo and Serbia failed to agree in emergency talks on a solution to their long-running dispute over car licence plates used by the ethnic Serb minority in Kosovo. Kosovo has attempted this year to require its Serb minority to change their old car plates that date before 1999 when Kosovo was still part of Serbia. The dispute over licence plates has stoked tensions for almost two years between Serbia and its former breakaway province, which declared independence in 2008 and is home to a Serb minority in the north backed by Belgrade. Around 50,000 ethnic Serbs who live there refuse to recognise Pristina's authority and still consider themselves a part of Serbia. Additional reporting by Bart Meijer; Writing by John Chalmers; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Seven European World Cup captains ditch OneLove arm band following FIFA pressure
▼ + stars: | 2022-11-21 | by ( Martyn Herman | ) www.reuters.com time to read: +5 min

England captain Harry Kane spoke on Sunday of his desire to wear the armband in Monday's Group B opener against Iran. FIFA launched its own captain's armband campaign to promote different causes for each round during the tournament. "This is in line with Article 13.8.1 of the FIFA Equipment Regulations, which state: 'For FIFA Final Competitions, the captain of each Team must wear the captain's armband provided by FIFA.'" According to FIFA rules, team equipment must not have any political, religious or personal slogans, statements or images, and during FIFA Final Competitions, the captain of each team "must wear the captain's armband provided by FIFA". Wales captain Gareth Bale had been planning to wear the OneLove armband against the United States later on Monday.

☆ Seven European World Cup captains ditch OneLove armband following FIFA pressure
▼ + stars: | 2022-11-21 | by ( Martyn Herman | ) www.reuters.com time to read: +6 min

FIFA has threatened to issue yellow cards to any player wearing the multi-coloured armband which was introduced to support diversity and inclusion. England captain Harry Kane spoke on Sunday of his desire to wear the armband in Monday's Group B opener against Iran. "I will not carry the confrontation created by FIFA onto the back of (Germany team captain) Manuel Neuer." FIFA launched its own captain's armband campaign ahead of the tournament to promote different causes for each round. According to FIFA rules, team equipment must not have any political, religious or personal slogans, statements or images, and during FIFA Final Competitions, the captain of each team "must wear the captain's armband provided by FIFA".

☆ Seven European World Cup captains ditch One Love arm band under FIFA pressure
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

"You don't want the captain to start the match with a yellow card. "This is completely against the spirit of our sport, which unites millions of people," the KNVB said in a statement. According to FIFA rules, team equipment must not have any political, religious or personal slogans, statements or images, and during FIFA Final Competitions, the captain of each team "must wear the captain’s armband provided by FIFA". Wales said the countries involved had been prepared to pay fines that would normally apply to breaches of kit regulations, but sporting sanctions had been a step too far. "As national federations, we can’t put our players in a position where they could face sporting sanctions including bookings, so we have asked the captains not to attempt to wear the armbands in FIFA World Cup games."

☆ Pepsi once offered a fighter jet as a joke prize in a promotion. A student tried to claim it anyway.
▼ + stars: | 2022-11-20 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Pepsi launched a "points" promotion in 1996 that included a "joke" prize of a $23M fighter jet. College student John Leonard took this challenge seriously, and launched a plan to nab the prize. Pepsi launched a rewards scheme called Pepsi Points, with customers able to redeem items using points accrued from buying its drinks. The company released a TV commercial for the promotion that ended with the claim that 7 million points would allow a Harrier fighter jet worth about $23 million to be redeemed. However, he saw a loophole: buy Pepsi Points for 10 cents each, meaning the seven million points needed for the jet would cost $700,000.

☆ Netherlands protests 'despicable' Russian response to MH17 verdict
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 18 (Reuters) - The Dutch government said on Friday it had summoned the Russian ambassador in the Netherlands over what it called Moscow's "utterly despicable" response to the verdict in the trial over the 2014 downing of Flight MH17. Russia said on Thursday the Dutch court's decision to convict two former Russian intelligence agents and a Ukrainian separatist leader for shooting down the Malaysian airliner "neglected impartiality". Foreign Minister Wopke Hoekstra said these remarks by Russia, which invaded Ukraine nine months ago, were "utterly despicable" and totally removed from reality. We can't let this pass ... and have to show that we do respect the rule of law and do have an independent judiciary," Hoekstra told Dutch newspaper AD. Reporting by Bart Meijer and Stephanie van den Berg Editing by Mark Potter and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court confirms that MH 17 was shot down by Russian-made missile
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] Lawyers attend the judges' inspection of the reconstruction of the MH17 wreckage, as part of the murder trial ahead of the beginning of a critical stage, in Reijen, Netherlands, May 26, 2021. REUTERS/Piroschka van de Wouw/Pool/File PhotoAMSTERDAM, Nov 17 (Reuters) - Malaysia Airlines flight MH17 was shot down in 2014 by a Russian-made missile fired from a field in eastern Ukraine, the Dutch court handling the trial of four suspects in the downing of the plane said on Thursday. "The court is of the opinion that MH17 was brought down by the firing of a BUK missile from a farm field near Pervomaisk, killing al 283 passengers and 15 crew members," presiding judge Hendrik Steenhuis said. Reporting by Stephanie van den Berg, Toby Sterling and Bart Meijer; Editing by Jon BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court says Russia had 'overall control' of separatists in Ukraine at time of MH17 downing
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Presiding Judge Hendrik Steenhuis inspects the reconstruction of the MH17 wreckage, as part of the murder trial ahead of the beginning of a critical stage, in Reijen, Netherlands, May 26, 2021. REUTERS/Piroschka van de Wouw/PoolAMSTERDAM, Nov 17 (Reuters) - The Dutch court handling the trial of four suspects in the downing of Malaysia Airlines flight MH17 on Thursday said Russia had overall control of the separatist forces in eastern Ukraine at the time when the plane was shot down. "From half May 2014 Russia had so called overall control over the People's Republic of Donetsk," presiding judge Hendrik Steenhuis said referring to the region where the passenger flight was show down on July 17, 2014. In the ongoing ruling, the court had earlier said the plane was shot down by a Russian-made missile. Reporting by Stephanie van den Berg, Toby Sterling and Bart Meijer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ EU to discuss migration problems at extraordinary meeting on Nov 25
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 17 (Reuters) - EU home affairs ministers will hold an extraordinary meeting to discuss current problems with migration on Nov. 25, the Czech EU Presidency said on Thursday. "Ministers will address the current situation in all migratory routes," the Presidency said in a tweet. Reporting by Bart Meijer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court convicts three men for MH17 downing and acquits one
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 17 (Reuters) - A Dutch court on Thursday convicted three suspects of murder for their role in shooting down Malaysia Airlines passenger flight MH17 over Ukraine in 2014 and acquitted one. The convicted men, two Russian former intelligence officers and a Ukrainian separatist leader, were found guilty of downing the plane and killing all 298 people on board. The fourth suspect on trial was acquitted. Reporting by Bart Meijer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court hands life sentences to men convicted of MH17 downing
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 17 (Reuters) - A Dutch court on Thursday handed down life long jail sentences to three suspects it convicted of murder for their role in shooting down Malaysia Airlines passenger flight MH17 over Ukraine in 2014. The convicted men, two Russian former intelligence officers and a Ukrainian separatist leader, were also ordered to pay at least 16 million euros ($16.5 million) in compensation to relatives of the victims. The men remain fugitives. They are all believed to be in Russia, which will not extradite them. Reporting by Bart Meijer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Some CFOs Are Boosting Their Credit Lines as Insurance Against Recession
▼ + stars: | 2022-11-16 | by ( Kristin Broughton | Nina Trentmann | ) www.wsj.com time to read: +7 min

In addition to recession-planning, some companies are expanding their credit lines in response to higher input and inventory costs, corporate bankers said. Term loans are also funded at the outset, unlike credit lines. Photo: Xcel EnergyThe company increased its revolving credit lines primarily because it is expanding and also confronting higher commodity costs, Mr. Johnson said. Xcel doesn’t typically allow its commercial-paper balances to exceed 40% of its total borrowing capacity under its revolving credit lines, Mr. Johnson said. Bombardier in the third quarter closed on a new $300 million, five-year revolving credit facility.

☆ Dutch economy shrank 0.2% in Q3 as inflation bites
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 15 (Reuters) - The Dutch economy shrank 0.2% on a quarterly basis in the third quarter as rising interest rates slowed down the housing market and surging inflation put a brake on consumption, a first estimate released on Tuesday showed. The euro zone's fifth largest economy performed worse than expected in the July-September period, as economists in a Reuters poll on average had predicted 0.0% growth. Investments fell 1.7% as rising mortgage rates cooled the years-long boom in the Dutch property market, while consumption growth slowed to 0.1%. The Dutch economy was 3.1% larger than in the third quarter of 2021, when consumption was still limited by COVID-19 restrictions. Reporting by Bart Meijer; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

It has dawned on me recently that as much as I like to give people advice, the wisdom I offer may not be worth very much.

☆ Electric Vehicles Need More—and Faster—Charging Stations. How Do We Get Them?
▼ + stars: | 2022-11-13 | by ( Bart Ziegler | ) www.wsj.com time to read: 1 min

As the car industry plans a major rollout of electric vehicles, the project faces serious gridlock: There aren’t enough places to charge the vehicles, but there aren’t yet enough customers to justify a widespread expansion of charging stations. What can be done to get things moving?

☆ Electric Vehicles Require Lots of Scarce Parts. Is the Supply Chain Up to It?
▼ + stars: | 2022-11-12 | by ( Bart Ziegler | ) www.wsj.com time to read: 1 min

The car industry is staging a revolution—a transition from the gasoline and diesel engines that have powered vehicles for over 130 years to a battery-propelled future. But a key part of the reinvention remains unfinished and filled with risk: the supply chains for the parts needed to assemble fully electric vehicles.

☆ Read the 11-page pitch deck a sports-betting startup that has raised $100 million used to get the NFL Players Association to invest
▼ + stars: | 2022-11-11 | by ( Ashley Rodriguez | Colin Salao | ) www.businessinsider.com time to read: +3 min

Mojo is an app that lets users bet on an NFL player's performance like it's a stock. See the pitch deck that helped get the NFL Players Association to invest. It also announced in September an additional $25 million in equity and venture debt, with big-name investors including the NFL Players Association. MojoMojo isn't the first startup to bring elements of the stock market to gambling, as the US market grows. "Mojo's sports stock market is really the first of its kind, and we're incredibly excited to join as an investor," Steve Scebelo, president of NFL Players, Inc., said in a statement.

☆ EU agrees law to remove CO2 with woodlands and other carbon sinks
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

The law sets a target of removing 310 million tonnes of CO2 equivalent by 2030 through the use of soil, trees, plants, biomass and timber. Binding targets are to be set for all 27 EU members, aimed at progressively increasing absorptions and reducing emissions so that the EU-wide objective is reached. Currently, EU countries have to ensure they compensate emissions from land use and forestry with at least an equivalent amount of carbon removal. Under the new law, from 2026 removals of CO2 need to exceed emissions. The bloc struck a deal last month on a law effectively banning the sale of new petrol and diesel cars from 2035 and on Tuesday agreed to a law that sets national targets to reduce carbon emissions.

☆ ArcelorMittal's Q3 profit beats expectations on energy savings
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Nov 10 (Reuters) - ArcelorMittal (MT.LU), the world’s second-largest steelmaker, reported higher-than-expected third-quarter earnings on Thursday as cost cutting and energy savings offset declining demand. The Luxembourg-based company said third-quarter core profit (EBITDA), the figure most watched by the market, was $2.7 billion. This was less than half the year-ago figure, but higher than the average forecast in a company poll of $2.34 billion. ArcelorMittal said it had cut its gas consumption in Europe by 30% in a bid to counter surging energy prices, as a slowdown in economic growth across the globe weakened demand for steel. The company said that in the face of weaker demand and higher energy costs, it had cut capacity accordingly, adding that demand should pick-up once industry destocking was completed.

☆ ABN Amro's Q3 profit jumps as interest income recovers
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 9 (Reuters) - Dutch bank ABN Amro (ABNd.AS) beat analysts' expectations on Wednesday, as it said net profit had more than doubled to 743 million euros ($747.98 million) in the third quarter, helped by rising interest rates and low impairments. Analysts in a company-compiled poll on average had predicted net profit would fall to 323 million euros for the July-September period, down from 343 million a year ago. ($1=0.9933 euros)Reporting by Bart Meijer; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Blow for EU crackdown on tax deals as Fiat wins appeal
▼ + stars: | 2022-11-08 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/2] New Fiat Panda and Fiat 500 mild-hybrid cars are seen in piazza Maggiore, in Bologna, Italy, February 4, 2020. REUTERS/Flavio Lo ScalzoLUXEMBOURG, Nov 8 (Reuters) - Fiat Chrysler on Tuesday won its fight against an EU order to pay 30 million euros ($30 million) in back taxes to Luxembourg, dealing a major setback to EU antitrust chief Margrethe Vestager's crackdown on sweetheart deals between EU countries and multinationals. In her 2015 decision, Vestager said Luxembourg had granted Fiat Chrysler, now part of Stellantis (STLA.MI), an unfair tax advantage by endorsing artificial and complex methods that artificially lowered the company's taxes. Judges faulted the EU competition watchdog for its analysis of the reference system used to determine whether Luxembourg had given a selective advantage to Fiat. Vestager's high profile cases include her record 13-billion-euro tax order for Apple (AAPL.O) and Amazon's (AMZN.O) Luxembourg deal.

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