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☆ French refinery strikes renewed for sixth day
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 13 (Reuters) - Strikes blocking fuel deliveries from French refineries continued for a sixth day on Monday, after the Senate voted over the weekend to adopt President Emmanuel Macron's unpopular pension reform plan. TotalEnergies' refineries and depots remained blocked, with 41% of the operators on the morning shift joining the strike, a company spokesperson said. ExxonMobil's (XOM.N) subsidiary Esso's Fos refinery in France was also blocked, a CGT union spokesperson said. There was no strike at the Port Jerome site, but that could resume on Wednesday, the union spokesperson said. The Senate voted on Saturday to adopt Macron's pension reform plan, which among other measures raises the retirement age by two years to 64.

☆ Macron seeks French pension reform support as strikes run on
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

PARIS, March 13 (Reuters) - Strikes blocking fuel deliveries from French refineries ran into a sixth day on Monday, piling further pressure on President Emmanuel Macron as he races to shore up support for unpopular pension reforms in a final parliamentary vote. The last and crucial moment would then be a final vote, Thursday, both in the Senate and in the National Assembly. [1/3] A view shows the French oil giant TotalEnergies refinery in Donges near Saint-Nazaire, France, March 10, 2023. REUTERS/Stephane Mahe 1 2 3Macron's party needs the support of Les Republicains in the National Assembly to ensure the bill is approved. Veran also echoed Prime Minister Elisabeth Borne, who has said she preferred a vote rather than using the 49:3 procedure, which refers to the related article in the French constitution.

☆ Exclusive: Agrofert to win EU approval to buy Borealis' nitrogen unit
▼ + stars: | 2023-03-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, March 10 (Reuters) - Czech group Agrofert is set to win unconditional EU antitrust approval for its purchase of the nitrogen business of Austrian energy group OMV's (OMVV.VI) unit Borealis, a person with direct knowledge of the matter said on Friday. Borealis in June last year announced the deal to sell the business, which includes fertiliser, melamine and technical nitrogen, on the basis of an enterprise value of 810 million euros ($863.5 million). Borealis is 75%-owned by energy group OMV and 25% by Abu Dhabi state fund Mubadala. It finalised a turnaround programme in its fertiliser business two years ago. Agrofert has manufacturing facilities in Germany, Slovakia and the Czech Republic and is owned by Czech ex-premier and now opposition leader Andrej Babis.

The possible investments are part of a wider, long-term strategy to reduce exposure to China, two people familiar with the plan told Reuters. ASML's lithography systems can cost up to 160 million euros ($170 million) each and are used to create the circuitry of computer chips. The Dutch government on Wednesday announced new restrictionson exports impacting ASML's second-best range of chip-printing tools, which could lead to Chinese retaliation. Among the companies on the mission is Neways, which helps ASML develop electrical control units, power controls and wiring systems for lithography systems, according to the company's website. ASML supplier NTS Group, which is a provider of precision mechanics tools, is another company that will join the business trip, Brainport said.

[1/6] People walk in a street where garbage cans are overflowing, as garbage has not been collected, in Paris, France March 10, 2023. REUTERS/Benoit TessierPARIS, March 10 (Reuters) - Garbage piled up in Paris streets and fuel deliveries were blocked from refineries as workers continued rolling strikes against pension reform but President Emmanuel Macron refused to meet with unions and said the reform must go ahead. But the hardline CGT union at TotalEnergies' Donges refinery said the strike would continue at least until Thursday and garbage collector unions had set no date for a resumption of services. According to an interior ministry note cited by French TV BFM, police expect that 800,000 to one million people will demonstrate. Fuel deliveries were also disrupted at the Fos refinery, operated by ExxonMobil (XOM.N) subsidiary Esso, a CGT spokesperson said.

☆ German police at scene at hostage situation at Karlsruhe pharmacy
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] German police sealed the area at the scene of a hostage situation at a pharmacy in the western German city of Karlsruhe, Germany, March 10, 2023. Police in Karlsruhe cordoned off an area in the central part of the city and urged residents to avoid the area. REUTERS/Tilman BlasshoferSummarySummary Companies Police say large deployment sent to Karlsruhe hostage situationCity centre cordoned off, police urge residents to stay awayNo danger to the broader public, police spokespersonFRANKFURT, March 10 (Reuters) - German police said officers were at the scene of a hostage situation in the western German city of Karlsruhe on Friday but that there was no danger to the broader public. Police in Karlsruhe cordoned off an area in the central part of the city and urged residents to avoid the area. The Stuttgarter Zeitung reported that two people had been taken hostage and that there was a demand for a ransom of a single-digit million euro sum.

☆ Spain's gas imports fell 12.1% in January from same month a year ago
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Spain's natural gas imports fell 12.1% in January compared with the same month a year earlier, government data showed on Wednesday. Following Russia's invasion of Ukraine a year ago, Spain has been receiving most of its gas in the form of seaborne liquefied natural gas. These shipments represented 67.3% of the total imports, while purchases through pipelines made up 32.7%, Cores said. Algeria was the main supplier of natural gas to Spain in January, accounting for 25.7% of the total, followed by the United States (21.3%). In January, Russian gas accounted for 19.2% of Spain's imports.

☆ U.S. opens Tesla probe into reports steering wheels fell off
▼ + stars: | 2023-03-08 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, March 8 (Reuters) - The National Highway Traffic Safety Administration (NHTSA) said Wednesday it is opening a preliminary investigation into 120,000 2023 Tesla Model Y vehicles after two reports of steering wheels falling off while driving. The U.S. auto safety regulator said the steering wheels in both vehicles, which had a low mileage, completely detached. The vehicles were delivered to owners missing the retaining bolt that attaches the steering wheel to the steering column. NHTSA said "both vehicles received an end of line repair requiring removal and re-installation of the steering wheel." Sudden separation occurred when the force exerted on the steering wheel overcame the resistance of the friction fit while the vehicles were in motion."

☆ UK regulator cracks down on illicit London crypto ATMs
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File PhotoLONDON, March 8 (Reuters) - Britain's markets regulator and police have swooped on suspected illegal crypto cashpoints (ATMs) across east London as authorities step up attempts to disrupt unregistered businesses deemed high risk for consumers. The inspections were conducted under money laundering regulations, which allow officers to enter premises without a warrant, observe activities, seek explanations about documents or information and take copies. Crypto ATMs (CATMs) allow people to buy or convert money into cryptoassets. "But there is also definitely an element of fear and uncertainty about what the FCA is going to do next."

Bitcoin futures ETFs track bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would track bitcoin's underlying market price. Proponents say a spot bitcoin ETF would give investors exposure to bitcoin without directly buying it. He told Reuters in January that Grayscale would appeal the case if the court backed the SEC's decision to reject its bitcoin ETF proposal. Grayscale Bitcoin Trust, launched in 2013, has $14 billion in assets under management, according to Grayscale’s website.

☆ Lindt & Spruengli proposes dividend hike as 2022 profit climb
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

ZURICH, March 7 (Reuters) - Lindt & Spruengli (LISN.S) said its 2022 profit rose and the Swiss chocolate maker also proposed a higher dividend payout on Tuesday, despite a challenging year that saw inflationary price hikes dampen consumer sentiment in key markets. Net income rose to 569.7 million Swiss francs ($612.78 million), beating the 566 million francs forecast by analysts at Zuercher Kantonalbank. It proposed a dividend of 1,300 francs per registered share, up from the 1,200 francs last year. Chocolate Gold Bunnys are seen during the annual news conference of Swiss chocolatier Lindt & Spruengli in Kilchberg, Switzerland March 8, 2022. With cost pressures continuing to pose a challenge, Lindt said it is likely to do the same this year.

☆ S&P cuts Nissan credit rating to junk status
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, March 7 (Reuters) - Nissan Motor Co Ltd's (7201.T) credit rating was cut to junk status by S&P Global Ratings on Tuesday, which said the Japanese automaker's earnings will remain weaker than previously assumed, given the prospect of another tough year in 2023. S&P slashed Nissan's rating by one notch to BB+ from BBB-, it said in a statement, a move that placed it below investment grade. "Performance at the company has been sluggish for more than three years," the rating agency said in the statement, adding that the impact of global supply chain disruptions in key automotive components will likely continue in 2023. "Also, in the second half of the year, we expect softening demand for new car sales in the U.S. and Europe will pressure sales prices," it said. Reporting by Daniel Leussink, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil police carry out more raids as part of Jan. 8 riots probe
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 7 (Reuters) - Brazil's federal police said on Tuesday they were carrying out new raids as part of a probe into the Jan. 8 riots in Brasilia, in which supporters of former President Jair Bolsonaro stormed government buildings. They were serving three arrest warrants and eight search and seizure warrants in the states of Minas Gerais and Parana, a statement said. The raids represent the seventh phase of an operation launched in mid-January to identify people who participated in, funded or fostered the riots, in which a mob invaded and ransacked the Congress, presidential palace and Supreme Court. Police did not disclose the names of those targeted in Tuesday's raids, but said they were being investigated for crimes of "violent abolition of the rule of law, coup d'état, qualified damage, criminal association, incitement, destruction and deterioration of specially protected property". Reporting by Gabriel Araujo, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

CDP has teamed up with Australian infrastructure fund Macquarie (MQG.AX) to bid for Italy's most important telecommunications infrastructure, for which U.S. investment firm KKR (KKR.N) has already presented an offer. One of the people familiar with the matter said that CDP board members were set to meet at 3 p.m. (1400 GMT) to approve the offer. In recent weeks, sources have told Reuters that CDP-Macquarie and KKR have both set an 18-billion-euro ($19 billion) enterprise value for TIM's grid. CDP's offer would also involve TIM's smaller fibre-optic network rival Open Fiber, which is owned by CDP and Macquarie and would be folded into TIM's grid down the road. Under Italian rules, Rome has the power to block unwanted interest for assets of strategic importance such as TIM's grid.

☆ UK to unveil new law to stop Channel migrants on Tuesday - paper
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

The British government has been promising to step up action to tackle the issue after the numbers making the perilous crossing soared to more than 45,000 last year. The British people want this solved," Home Secretary (interior minister Suella Braverman told the paper. London's High Court subsequently ruled it lawful in December, but opponents are seeking to appeal that verdict. It is expected the legal battle will end up in the UK Supreme Court and so may not be resolved for months. The policy has been denounced by human rights groups and even reportedly by King Charles.

☆ Iran makes sweeping pledge of cooperation to IAEA before board meeting
▼ + stars: | 2023-03-04 | by ( Francois Murphy | ) www.reuters.com time to read: +2 min

The International Atomic Energy Agency and Iran issued a joint statement on IAEA chief Rafael Grossi's return from a trip to Tehran just two days before a quarterly meeting of the agency's 35-nation Board of Governors. "Iran expressed its readiness to ... provide further information and access to address the outstanding safeguards issues," the joint statement said. A confidential IAEA report to member states seen by Reuters said Grossi "looks forward to ... prompt and full implementation of the Joint Statement". Follow-up talks in Iran between IAEA and Iranian officials aimed at hammering out the details would happen "very, very soon", Grossi said. Asked if all that monitoring equipment would be re-installed, Grossi replied "Yes".

☆ Power restored to parts of Kenya after nationwide blackout
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

NAIROBI, March 4 (Reuters) - Power was restored to parts of Kenya after a nationwide blackout lasting several hours which was thought to have been caused by a fault on a transmission line, electricity distributor Kenya Power (KPLC.NR) said on Saturday. "Initial reports indicate that the outage was caused by a fault that occurred on the Suswa-Loyangalani high-voltage power transmission line," Kenya Power said in a statement. The power supply was restored to parts of Eldoret, Kisumu and Nakuru, the distributor said. Electricity had also returned to at least one part of the capital Nairobi, according to a Reuters journalist. Kenya Power is the country's sole electricity distributor and the bulk of its power comes from Kenya Electricity Generating Company (KenGen) (KEGN.NR), which is the main producer.

☆ Kenya hit by nationwide power outage
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: 1 min

NAIROBI, March 4 (Reuters) - Kenya was hit by a nationwide power blackout on Saturday evening caused by a "system disturbance", electricity distributor Kenya Power (KPLC.NR) said. "We are working to restore normalcy within the shortest time possible," Kenya Power said in a statement. Kenya Power is the country's sole electricity distributor and the bulk of its power comes from Kenya Electricity Generating Company (KenGen) (KEGN.NR), which is the main producer. Reporting by Hereward Holland, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

The greenback briefly cut its losses after data showed the U.S. services sector grew at a steady pace in February, with new orders and employment rising to more than one-year highs. "This suggests traders think yields have been pushed too far, too fast, and could augur a peak in implied terminal rates," he added. "Next week's job opening and non-farm payrolls reports could generate a lift in yields and the dollar. The dollar eased 0.4% to 136.26 yen , after climbing to 137.10 on Thursday, the highest since Dec. 20. For the week, the dollar is down 0.4% versus the yen, but any gain would preserve its win streak since mid-January.

☆ Volkswagen's Scout says to build $2 bln manufacturing plant in South Carolina
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: 1 min

[1/2] A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called "Blaue Fabrik" (Blue Factory) environmental program, in Wolfsburg, Germany May 19, 2017. REUTERS/Fabian Bimmer/File PhotoFRANKFURT, March 3 (Reuters) - Volkswagen's (VOWG_p.DE) Scout Motors Inc. said on Friday it would build a $2 billion manufacturing plant near Columbia, South Carolina, for trucks and SUVs. The investment could potentially create 4,000 or more permanent jobs and more than 200,000 Scout vehicles could be produced annually at the facility, the company added. Reporting by Ludwig Burger, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistan expects $1.3 bln financing from China's ICBC soon
▼ + stars: | 2023-03-03 | by ( Asif Shahzad | ) www.reuters.com time to read: +1 min

ISLAMABAD, March 3 (Reuters) - Cash-strapped Pakistan will receive $1.3 billion in financing from the Industrial and Commercial Bank of China Ltd in coming days to help shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Friday. Dar said the total $2 billion is in effect Pakistan borrowing back the debt repayments it has paid to Beijing for previously agreed loans. He said Pakistan will need $5 billion external financing to close its financing gap this fiscal year, which ends in June. More external financing will be coming to Pakistan only after Islamabad signs a deal with International Monetary Fund (IMF), which the minister said should be done by next week. Reporting by Asif Shahzad and Ariba Shahid; editing by John Stonestreet and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

DUBAI, March 3 (Reuters) - A media report that the United Arab Emirates is considering leaving OPEC is "far from the truth," two sources with direct knowledge of the matter told Reuters. Earlier on Friday, the Wall Street Journal reported that the UAE is having an internal debate about leaving the Organization of the Petroleum Exporting Countries. "This is definitely not on the table," another source with knowledge of the matter said, when asked about the WSJ report. OPEC, Russia and other non-member producers, known as OPEC+, have a deal in place to cut production by 2 million barrels per day, about 2% of world demand, during 2023 to support the market. UAE energy minister Suhail al-Mazrouei said last year the UAE's plans to raise its production capacity did not mean the country was going to leave OPEC.

☆ London Stock Exchange urges rapid UK reforms after Arm's snub
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 3 (Reuters) - The London Stock Exchange said on Friday that chip designer Arm's decision to pursue a U.S.-only listing this year rather than return to London's stock market showed Britain needed to speed up plans for regulatory and market reforms. Arm, owned by Japan's SoftBank (9984.T), is to pursue a U.S.-only listing this year, dashing the British government's hopes that the tech giant would choose London. "Arm is a great British company and a world leader in their field which we continue to believe can be very well served by the UK capital markets," said Julia Hoggett, chief executive of London Stock Exchange plc, part of London Stock Exchange Group (LSEG.L). Arm has not completely ruled out an eventual London listing and has said it intends to consider a subsequent IPO there in due course, without providing further details. On Thursday, Dublin-based building materials group CRH (CRH.L) had announced a decision to its primary listing from London to the United States.

LONDON, March 3 (Reuters) - Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving OPEC and pumping more oil, but retraced some losses after a source told Reuters this was not true. Oil prices this week had been boosted by strong Chinese economic data, underpinning hopes for oil demand growth, but those gains were all but erased on Friday. "The driver was the WSJ story, with concerns that this might impact the OPEC+ production (cut) deal. China's seaborne imports of Russian oil are set to hit a record high this month. The world's top oil importer is becoming increasingly ambitious with its 2023 growth target, aiming as high as 6%, sources told Reuters.

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