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☆ China's factory prices fall as manufacturing struggles to recover
▼ + stars: | 2023-02-10 | by ( Joe Cash | ) www.reuters.com time to read: +4 min

[1/2] Employees work at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, 2019. The drop in factory gate prices was unexpected because China's economic activity returned to growth in January. The official purchasing managers' index (PMI), which measures manufacturing activity, crossing the 50-point threshold for the first time since September. Falling input prices, including chemicals, as well as lower crude oil and domestic coal prices contributed to the greater-than-expected decline. Core inflation, which excludes food and energy prices ticked up to 1.2% last month from an annual gain of 0.7% in December.

☆ SK Innovation battery unit SK On aims to raise up to $2.4 bln -sources
▼ + stars: | 2023-02-10 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

SK On in December raised 2.8 trillion won from SK Innovation and 800 billion won from financial investors including Korea Investment Private Equity. A spokeswoman declined to comment on valuation but said SK On expects an additional 500 billion won from private equity funds this year as part of last year's fundraising. SK Innovation was not immediately available for comment. SK Innovation on Tuesday said it would focus spending on growing SK On this year even as the business was taking longer than it expected to turn a profit. SK On will eventually launch an initial public offering, as per an agreement with financial investors, SK Innovation said in November.

☆ U.S. officials prepping legislation to revamp asylum system
▼ + stars: | 2023-02-09 | by ( Ted Hesson | ) www.reuters.com time to read: +4 min

"It's a total rethink of the approach and is not constrained by current laws," one of the DHS officials said. Blas Nunez-Neto, a top DHS policy official, is one of the people leading the legislative effort, according to one of the DHS officials and another person familiar with the matter. The new Biden asylum bill could also potentially incorporate a requirement that migrants seek asylum in countries they pass through if protections are available elsewhere, the third person familiar with the effort said. The Biden administration has said it wants to end Title 42 and replace it with a more established rapid deportation process known as "expedited removal." U.S. officials since last year have pressed Mexico to accept non-Mexicans via expedited removal once Title 42 terminates, two U.S. officials told Reuters.

☆ Netflix lays out plans to crack down on account sharing
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Netflix Inc (NFLX.O) on Wednesday laid out plans to crack down on password sharing for accounts on its streaming platform, including setting up primary location and paying a couple of dollars for an extra member. The video-streaming giant, which has estimated that 100 million around the world use a shared account, said that members can now easily manage who has access to their account, transfer profile to a new account and still easily watch Netflix on their personal devices or log into a new TV. "So over the last year, we've been exploring different approaches to address this issue in Latin America, and we're now ready to roll them out more broadly in the coming months, starting today in Canada, New Zealand, Portugal and Spain," the company said in a blogpost. The company lost subscribers in the first half of 2022 amidst stiff competition from rivals, prompting it to look more seriously into password sharing and launching an ad-supported plan. (This story has been refiled to correct the syntax in the headline and in paragraph 1)Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

His comments renewed investor hopes for less aggressive monetary policy that wavered after a strong U.S. jobs report last Friday. The tech-heavy Nasdaq (.IXIC) rallied on news form Microsoft Corp (MSFT.O), and the S&P 500 (.SPX) also got a boost. Most sectors on the S&P 500 ended higher. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv. The S&P 500 posted 5 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 31 new lows.

☆ Tellurian woos Indian investors for its Driftwood LNG project
▼ + stars: | 2023-02-07 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Tellurian Inc is continuing discussions with the Indian government and oil companies for investments in its Driftwood liquefied natural gas project in Louisiana, its chief executive told Reuters on Tuesday. "The only way India and Indian companies can supply LNG at the lowest possible cost is if they invest equity in a project that allows them to lift the LNG at cost. We offer that, so obviously, it is very, very attractive to the Indian companies and the Indian government," Simoes said. Houston, Texas-based Tellurian resumed talks with Indian oil and gas companies for investments in Driftwood LNG late last year. No other competing project is under construction," Simoes said.

☆ At least 15 dead from Peru landslide, president pledges to speed help
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows people watching near a landslide caused by a heavy rains, in Arequipa, Peru February 6, 2023. Another 20 people were injured after the landslide struck on Sunday near the riverside town of Secocha, about 125 miles (200 km) northwest of the city of Arequipia. Along with local officials, Boluarte posed for pictures in front of piles of supplies set for distribution. The deadly landslide follows two months of intense political upheaval in the country marked by often violent anti-government protests aimed at Boluarte's caretaker government. The unrest is largely centered in nearby areas in Peru's Andean south and was triggered by the early December ouster of former President Pedro Castillo.

☆ Former Newcastle winger Atsu pulled alive from Turkey earthquake rubble
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Ghana international winger Christian Atsu has been found alive after being buried under rubble in the earthquake that hit Turkey, the vice president of his club Hatayspor told media on Tuesday. Our sporting director, Taner Savut, is unfortunately still under the rubble," club vice president Mustafa Ozat told Radyo Gol. loadingAtsu, 31, played in the Premier League for Newcastle United and Everton, on loan from Chelsea, and joined Hatayspor in September. He was last selected to play for Ghana in 2019, but has not officially retired from international football. Ozat told BeIN Sports on Monday several players and officials had been rescued from the rubble.

☆ Factbox: FACTBOX Possible U.S. debt-ceiling workarounds to avoid default
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +4 min

Historians say that aimed to ensure the federal government would not repudiate its debts, as some ex-Confederate states had done. Some experts have suggested that Biden could invoke this amendment to raise the debt ceiling on his own if Congress does not act. Analysts say this would leave Treasury on the hook for higher interest payments and unsettle the market for Treasury bonds, which serve as a bedrock for the global financial system. GET RID OF ITCongress could vote to abolish the debt ceiling entirely, which would eliminate the need to vote on the issue periodically but also erode Congress's authority on fiscal matters. Attempts to abolish the debt ceiling have gotten no traction in Congress in recent years.

☆ Goldman Sachs to invest over $1 bln in Europe biomethane venture
▼ + stars: | 2023-02-06 | by ( Virginia Furness | ) www.reuters.com time to read: +2 min

Biomethane, a lower carbon alternative to fossil-based natural gas, is produced from the decomposition of organic waste and is seen as a key plank in efforts to lower carbon emissions in the European Union. Verdalia Bioenergy will invest in both early-stage biomethane development projects as well as existing assets with the aim of contributing to Europe's decarbonisation and energy security agenda, the asset manager said on Monday. It has already signed an agreement to purchase a portfolio of biomethane projects with a total capacity of around 150 gigawatt hours per year (GWh/year) in mid-stage development in Spain. Biomethane can be used in the same way as natural gas and delivered using the same infrastructure, yet comes without the same high level of climate-damaging emissions. Biogas and biomethane production has already created 210,000 green jobs in Europe and is saving 60 million tons of greenhouse gas emissions per year, according to the European Biogas Association.

☆ Thousands of Danes protest cancelling of public holiday
▼ + stars: | 2023-02-05 | by ( Johannes Birkebaek | ) www.reuters.com time to read: +2 min

[1/3] People take part in a protest outside of Danish Parliament building in Copenhagen, Denmark, February 5, 2023. REUTERS/Johannes BirkebaekCOPENHAGEN, Feb 5 (Reuters) - Thousands of people gathered in Copenhagen on Sunday to protest a bill put forward by the government to scrap a public holiday to help finance increased defence spending. Unions organising the protest estimated at least 50,000 people took part, which would make it Denmark's biggest demonstration in more than a decade. The government has proposed moving forward by three years to 2030 a goal of meeting a NATO defence spending target of 2% of GDP. It says most of the extra 4.5 billion Danish crowns ($654 million) needed to meet the target could be covered by the higher tax revenues it anticipates from abolishing the holiday.

☆ Family of Amir Locke files wrongful-death lawsuit in Minneapolis
▼ + stars: | 2023-02-03 | by ( Tyler Clifford | ) www.reuters.com time to read: +3 min

[1/2] The casket of Amir Locke, a Black man who was shot and killed by Minneapolis police, is brought to the hearse at the Shiloh Temple International Ministries in Minneapolis, Minnesota, U.S., February 17, 2022. REUTERS/Ben BrewerFeb 3 (Reuters) - The family of Amir Locke, a Black man who was killed by Minneapolis police during a no-knock raid on an apartment last year, has filed a wrongful death lawsuit against the city and the officer who fired the fatal gunshots. The city of Minneapolis said it would review the complaint once it has received the document. When Locke reached under a cover for the gun, Hanneman shot him three times, the suit said. "Hanneman failed to give Amir any such opportunity even though Amir never pointed the handgun at Hanneman or put his finger on the trigger," the suit said.

[1/2] The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit DaveMUMBAI, Jan 31 (Reuters) - Indian conglomerate Adani Group's locally listed bonds have resisted the panic selling in the groups' dollar-denominated debt and domestically listed stocks since last Wednesday following short-seller Hindenburg Research's scathing report on the group. The top five Adani Group companies – Adani Power (ADAN.NS), Adani Green Energy (ADNA.NS), Adani Ports and Special Economic Zone (APSE.NS), Adani Enterprises (ADEL.NS) and Adani Transmission (ADAI.NS) – have outstanding rupee bonds worth around 170 billion rupees, according to brokerage CLSA. However, Srinivasan said the Adani Group firms could find it difficult to raise fresh funds from the local bond markets until the concerns raised by Hindenburg were addressed. Moreover, Adani Group companies have not been rolling over many of their short-term commercial papers and instead allowed them to mature.

On Tuesday, Western Digital CEO David Goeckeler said the partnership with Apollo and Elliott would help "facilitate the next stages of Western Digital's strategic review." The latest investment is a precursor to a potential merger between Silicon Valley-based Western Digital and Japan's Kioxia Holdings Corp, according to people familiar with the matter. The sources, who requested anonymity as these discussions are confidential, said the talks between Western Digital and Kioxia are still active. Western Digital and Kioxia jointly produce NAND chips, which are widely used in smartphones, TVs, data center servers and public announcement display panels. Qatalyst Partners, Lazard and J.P. Morgan are serving as Western Digital's financial advisers and Skadden, Arps, Slate, Meagher & Flom LLP is serving as Western Digital's legal adviser.

Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Headwinds for Meta and Google could be notably less severe, he added. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest (PINS.N), which also earns revenue by selling digital advertising, on Tuesday.

Maike's absence has encouraged some direct trade between sellers and buyers in the market but they face challenges. Fitch Solutions expects China's copper consumption to rise 4.4% this year, after just 1.5% growth in 2022. Anti-pandemic restrictions had also prolonged smelter maintenance and curtailed copper production growth last year, especially in the Guangdong area. Some smelters there have hiked their offers for 2023 copper premiums to 300 yuan a tonne, up from 200 yuan a tonne last year, a Shanghai-based trader said. While Maike's disappearance from the import market has been blamed for disrupting supplies and pricing, China's refined copper imports increased 6.6% in 2022, according to customs data.

☆ FTX sues Voyager Digital to claw back $446 million in 2022 loan payments
▼ + stars: | 2023-01-31 | by ( Dietrich Knauth | Industry Insight | Upcoming Sec Climate Disclosure Rules Bring Urgency To Esg Data Strategy Planning | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 30(Reuters) - Bankrupt crypto exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022. FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but Voyager’s bankruptcy preceded FTX’s filing by four months. After Voyager filed in July, it demanded repayment of all outstanding loans to FTX and its affiliate hedge fund Alameda Research. FTX said in a court filing that on Alameda’s behalf, it paid Voyager $248.8 million in September and $193.9 million in October. In its Monday court filing, FTX acknowledged the allegations that Alameda raided FTX customer assets to cover its risky borrowing and lending.

☆ Italy facing attacks by international anarchists, foreign minister says
▼ + stars: | 2023-01-31 | by ( Alvise Armellini | ) www.reuters.com time to read: +2 min

ROME, Jan 31 (Reuters) - Italian embassies all over the world are at risk of anarchist attacks linked to the case of the hunger-striking Alfredo Cospito, Foreign Minister Antonio Tajani said on Tuesday. Cospito, 55, is an Italian anarchist who has been on a hunger strike for more than 100 days to protest against being jailed under the strict "41 bis" isolation regime. "We are raising security in all of our embassies and consulates because at the moment international anarchists are mobilised against the Italian state," Tajani told a news conference in Rome. Italian embassies, consulates or culture institutes have been targeted in Bolivia, Chile, Argentina, Brazil, Spain, Germany and Switzerland, he said. Cospito was placed under the regime in May, after he wrote articles from prison calling on fellow anarchists to continue their armed struggle.

☆ Exclusive: Sanofi to let go of staff at vaccine plants in India as part of review
▼ + stars: | 2023-01-30 | by ( Leroy Leo | ) www.reuters.com time to read: +3 min

[1/2] Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. The drugmaker is offering voluntary retirement scheme (VRS) to all its employees at two sites near Hyderabad, a spokesperson for Sanofi's India unit told Reuters in an email. Sanofi India declined to comment on the number of employees who would be offered VRS. The French company has over 5,000 employees in India, according to its website. Sanofi owns the facilities through Sanofi Healthcare India Pvt Ltd, which was renamed from the erstwhile Shantha Biotechnics.

☆ Saudi Arabia to invest about $266 bln for clean energy - minister
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

Jan 30 (Reuters) - Saudi Arabia will invest up to one trillion riyals ($266.40 billion) to generate "cleaner energy", Saudi state TV reported on Monday, citing the kingdom's energy minister. Prince Abdulaziz bin Salman added that the investments aim also to "add transport lines and distribution networks in order to eventually export the energy to the world and produce clean hydrogen." (This story has been refiled to fix typo in headline.) Reporting By Nayera AbdallahOur Standards: The Thomson Reuters Trust Principles.

Now Israel has normalised relations with more Arab states, while Palestinians have grown more isolated and divided. Most world powers consider Israel's settlements in the West Bank and East Jerusalem as illegal. Israel says its West Bank raids targeted militants such as the suspects behind deadly attacks carried out by Palestinians inside Israel last year. "Each area of the West Bank is witnessing some form of armed clashes, but these are not united mass-scale movements," said Tahani Mustafa of the International Crisis Group. U.S. Secretary of State Antony Blinken is visiting Israel and the West Bank this week.

That would mean running Tesla factories leaner with fewer materials in inventory, cutting shipping and logistics costs and negotiating lower prices for components, he said - putting Tesla's suppliers on notice. "My guess is if the recession is a serious one, and I think it probably will be but I hope it isn't, that would lead to meaningful decrease in almost all of our input costs," Musk said. Tesla's third-quarter profit per car sold was more than seven times higher than Toyota Motor Corp (7203.T), for example. The company's average cost per vehicle, including all categories of its spending, was almost $44,000 in the fourth quarter. I think there's just a vast number of people that want to buy a Tesla but can't afford it," Musk said.

☆ U.S. Representative Schiff sets sights on fellow Democrat Feinstein's Senate seat
▼ + stars: | 2023-01-26 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

Schiff joined other California Democrats aiming for the seat currently held by Democratic Senator Dianne Feinstein. U.S. Representative Katie Porter launched her U.S. Senate campaign this month. The Washington Post has reported that Representative Barbara Lee was also planning to run for the seat. The new Republican House Speaker, fellow Californian Kevin McCarthy, has blocked Schiff from serving on the prestigious panel again. Schiff, a prominent House Democrat who was first elected in 2000, gained national attention for his high-profile role in the 2020 Trump impeachment trial.

☆ UK's Hunt pledges to boost growth but won't budge on tax hikes
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] British Chancellor of the Exchequer Jeremy Hunt leaves his house in London, Britain, November 16, 2022. REUTERS/Toby MelvilleLONDON, Jan 26 (Reuters) - British finance minister Jeremy Hunt will promise on Friday to tackle the country's weak productivity with post-Brexit finance reforms to boost growth, but he will also stick to the tax rises that have angered some lawmakers in his Conservative Party. Hunt, who steadied financial markets after the turmoil of former Prime Minister Liz Truss' "mini-budget" in September last year, is preparing to announce a plan for growth in a budget statement in March. The Telegraph newspaper said Hunt would reject calls from some Conservative lawmakers to bring forward tax cuts as a way to spur growth. Earlier on Thursday, Hunt told fellow ministers that he had to stick to the fiscal discipline he outlined in November in order to help reduce inflation which is running above 10%, according to Prime Minister Rishi Sunak's office.

☆ U.S. oil refining margins hit 3-month high as plant outages rise
▼ + stars: | 2023-01-25 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - U.S. oil refining margins on Tuesday hit a three-month high and are likely headed higher, analysts said, as unplanned refinery outages weigh on already-tight fuel supplies. The outages have pushed up gasoline prices in Texas and Oklahoma this year ahead of what is expected to be a heavier than usual turnaround season for refineries. The rising prices and margins are unusual for this time of year, when travel falls. Average gasoline prices in Texas hit about $3.07 a gallon on Tuesday, up almost 44 cents from a month ago, according to the AAA motor group. A diesel producing unit at PBF Energy's (PBF.N) Chalmette, Louisiana, refinery was shut following a fire on Saturday.

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