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☆ Consumer protection bodies urged to investigate ChatGPT, others
▼ + stars: | 2023-04-24 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, April 24 (Reuters) - The European Consumer Organisation (BEUC) has joined the chorus of concern about ChatGPT and other artificial intelligence chatbots, calling on EU consumer protection agencies to investigate the technology and the potential harm to individuals. BEUC, the umbrella group for 46 consumer organisations from 32 countries, set out its worries in separate letters earlier this month to the network of consumer safety authorities (CSN network) and to the network of consumer protection authorities (CPC network). It said younger consumers and children are more vulnerable to such risks. The group also called on the Consumer Safety Network to start an exchange of information and an investigation into the safety risks of these products. Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Kazakhstan has ramped up oil exports bypassing Russia
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Pavel MikheyevMOSCOW, April 21 (Reuters) - Kazakhstan ramped up oil exports bypassing Russia in the first quarter of 2023 as it seeks to reduce its dependency on its vast neighbour, data from industry sources and Refinitiv showed. While Kazakh oil exports through the Caspian Sea and the Caucasus are relatively small, they have risen sharply since Moscow began what it calls a "special military operation" in Ukraine in February last year. Last year, Kazakhstan's oil exports via routes other than Russia reached 1.8 million tonnes (36,000 barrels per day), up by 638,000 tonnes from 2021. The main, and most profitable, route for oil exports from Kazakhstan remains the Caspian Pipeline Consortium (CPC), which supplies the global market via a Russian Black Sea terminal. Supplies via CPC dipped 1% last year to 51.99 million tonnes, but they still represented more than 80% of total oil exports from Kazakhstan.

☆ US CPC says 62% chance of El Niño developing during May-July
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: 1 min

April 13 (Reuters) - ENSO-neutral conditions are expected to continue through the Northern Hemisphere spring, followed by a 62% chance of El Niño developing during May-July 2023, a U.S. government weather forecaster said on Thursday. The El Niño phenomenon is a warming of ocean surface temperatures in the eastern and central Pacific, sometimes causing crop damage, flash floods or fires. Reporting by Ashitha Shivaprasad in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Biden could protect student-loan borrowers from being stuck with useless degrees and a lot of debt by bringing back a rule Trump ditched, progressive lawmakers say
▼ + stars: | 2023-04-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

It included reinstating and strengthening the gainful employment rule, which protects student-loan borrowers from unaffordable debt post-graduation. Biden delayed implementation of the rule until 2024 and is expected to put out a proposal this month. "The Gainful Employment rule is a cornerstone of our ambitious regulatory agenda," the spokesperson said. Along with reinstating gainful employment, lawmakers and advocates have also called for the executives of for-profit schools to be held liable for costs when the school shuts down, rather than taxpayers and borrowers. Now, lawmakers and advocates await the department's gainful employment proposal.

☆ U.S. urges rail tank car owners, shippers to use safer, newer cars
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 22 (Reuters) - The U.S. Transportation Department (USDOT) on Wednesday urged rail tank car owners and hazmat shippers of flammable liquids to stop using tank cars like some in a Feb. 3 Norfolk Southern (NSC.N) train derailment in East Palestine, Ohio and replace them with newer, safer tank cars. Norfolk Southern CEO Alan Shaw said at a Senate Commerce hearing on Wednesday the railroad supports the provision "for accelerating safer tank car standards". Last month, Transportation Secretary Pete Buttigieg called on Congress to mandate owners of tank cars to expedite the phase-in of safer DOT-117 tank cars in advance of the congressionally mandated 2029 deadline. The PHMSA advisory calls on shippers of flammable liquids "to voluntarily upgrade their tank car fleets to the newest, and safest, available tank car design authorized for flammable liquid service." The advisory added railroads should consider applyingrequirements applicable to high-hazard flammable trains to trains with fewer tank cars carrying flammable liquids in DOT-111 tank cars.

For Saudi Arabia, a deal could mean improved security. Saudi Arabia, Washington's most important Arab ally, began exploring ways to open a dialogue with the Islamic Republic two years ago in Iraq and Oman, said a Saudi official. In a bilateral meeting with Crown Prince Mohammed bin Salman, the president expressed his desire to broker dialogue between Saudi Arabia and Iran. CHINESE MEDIATION 'BEST OPTION'An Iranian official said the deal covered a range of issues, from security concerns to economic and political issues. "China was the best option considering Iran's lack of trust towards Washington and Beijing's friendly ties with Saudi Arabia and Iran.

☆ Saudi, Iran restoration of ties a 'victory for dialogue'-China’s Wang Yi
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

China Daily via REUTERSBEIJING, March 10 (Reuters) - The successful talks between Iran and Saudi Arabia in Beijing are a victory for dialogue and peace, China's top diplomat Wang Yi said on Friday, following the major diplomatic coup for China in Middle East geopolitics. Iran and Saudi Arabia agreed on Friday to re-establish relations after seven years of hostility which had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria. In the statement, the three parties expressed their willingness to make "every effort" to strengthen international and regional peace and security. "As a good-faith and reliable mediator, China has faithfully fulfilled its duties as the host," Wang said. Reporting by Ethan Wang and Ryan Woo; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

White House spokesperson John Kirby said on Friday that while Washington was not directly involved, Saudi Arabia kept U.S. officials informed of the talks with Iran. NUCLEAR TALKSThe agreement comes as Iran accelerates its nuclear program after two years of failed U.S. attempts to revive a 2015 deal that aimed to stop Tehran producing a nuclear bomb. "Saudi Arabia is deeply concerned about Iran's nuclear program," he said. "If this new opening between Iran and Saudi Arabia is going to be meaningful and impactful, it will have to address the concerns about Iran's nuclear program - otherwise the opening is just optics." Friday's agreement also offers hope for more durable peace in Yemen, where a conflict sparked in 2014 has widely been seen as a proxy war between Saudi Arabia and Iran.

☆ The vote on DC's crime law has nothing to do with crime for some House Democrats
▼ + stars: | 2023-03-08 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +5 min

Most House Democrats voted to uphold DC's criminal code revisions to support the District's right to self governance. That's why he was among 173 Democrats who opposed a GOP-led House measure last month to overturn the District's controversial crime law revisions. "The District of Columbia residents and their local leaders should have the ability to make those decisions," Horsford, of Nevada, told Insider. Rep. Jahana Hayes of Connecticut also told Insider the problem for her was, "Congress intervening and overturning a local vote." House Democrats are furious that Biden left them hanging, especially after his administration put out a statement opposing the GOP measure.

☆ Critical for Kazakhstan to pursue oil export options outside of Russia, investor says
▼ + stars: | 2023-03-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Kazakhstan's ability to diversify its seaborne crude oil export routes away from Russian territory is critical to the country's economy, the developer of an alternative port told CNBC. Once complete, the port could provide an alternative to Kazakhstan's main seaborne crude oil export route, which currently transports volumes across Russian territory via the 1,511-kilometer (939-mile) Caspian Pipeline Corporation's pipeline, for later shipment from the CPC terminal near Russian port Novorossiysk. Exports from the CPC terminal were intermittently disrupted in 2022, with Russia citing technical and regulatory issues. "Approximately 95% of oil is going through Russian territory, and we have seen some disturbance last year, and actually … it's quite a threat to the Kazakhstan economy, because we are depending on the oil revenues," Marabayev told CNBC on Wednesday. ExxonMobil's after-tax earnings linked to its Kazakh interests were roughly $2.5 billion in 2022.

☆ China says its economic recovery is still not solid - state media
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Feb 28 (Reuters) - China said on Tuesday the foundation of its economic recovery is not yet solid, and various unexpected factors may occur at any time, state media reported. The communique was released at the second plenary session of CPC's central committee, which was held from Feb. 26 to Feb. 28. More than 200 members of central committee discussed a draft of reforms to party and state organisations which will be examined at the upcoming 14th National People’s Congress (NPC). The central committee also approved a proposed list of leadership candidates to be recommended at the first session of the upcoming Congress. The 14th NPC, an annual meeting of parliament where thousands of delegates from across China will gather in the capital, Beijing, kicks off on Sunday.

☆ Exxon warns of Russia risks to its $2.5 billion Kazakhstan income
▼ + stars: | 2023-02-23 | by ( Sabrina Valle | ) www.reuters.com time to read: +2 min

HOUSTON, Feb 22 (Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday warned in a securities filing of potential risks to its Kazakhstan oil operations, which provided $2.5 billion in earnings last year. Threats to Kazakhstan oil exports have been in the spotlight since Moscow invaded Ukraine a year ago this week. Exxon and Chevron (CVX.N) are major holders in the Central Asia country's oil production and related export pipeline. Kazakhstan shares a 4,750 mile (7,644 km) border with Russia and its oil exports travel mainly through a Caspian Pipeline Consortium (CPC) line through Russia and lands at a Russian Black Sea export terminal. Any closure of the CPC pipeline or terminal would shut in more than 1% of global oil supply and cost its producers billions of dollars in lost income.

☆ China's top diplomat reiterates calls for dialogue over Ukraine crisis
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - China has "neither stood by idly nor thrown fuel on the fire" regarding the crisis in Ukraine, and continues to call for peace and dialogue, top diplomat Wang Yi said at the Munich Security Conference on Saturday. China will set out its position on settling the Ukraine crisis in a document that will state all countries' territorial integrity must be respected, Wang said. Asked to reassure the audience that military escalation was not imminent over the Taiwan Strait, Wang said Taiwan "independence forces" are incompatible with peace. "If we want to maintain peace across the Taiwan Strait, we must resolutely oppose Taiwan independence, and we must resolutely maintain the one-China policy." Reporting by David Kirton in Shenzhen, China, Ryan Woo in Beijing and Laura Lin in Shanghai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. handling of balloon incident 'hysterical', says China's top diplomat
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +2 min

Feb 18 (Reuters) - China's top diplomat Wang Yi said on Saturday that the U.S. handling of the balloon incident had been "unimaginable" and "hysterical" - an "absurd" act that had violated international norms. The incident, which had prompted U.S. Secretary of State Antony Blinken to postpone a planned visit early this month to Beijing, has further aggravated already strained relations between Washington and Beijing. "We ask the U.S. to show its sincerity and correct its mistakes, face up and resolve this incident, which has damaged Sino-U.S. relations," he said. "We hope the U.S. could pursue a pragmatic and positive policy towards China, and work with China to push Sino-U.S. relations back to the track of healthy development." Reporting by Ryan Woo in Beijing; editing by Jason Neely and Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

☆ China's top diplomat to attend Munich Security Conference, visit Russia
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 13 (Reuters) - China's top diplomat Wang Yi will attend the Munich Security Conference this month and plans to visit several countries including Russia, the Chinese foreign ministry said on Monday. Wang, director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee, will also visit France, Italy and Hungary this month, spokesperson Wang Wenbin said at a regular press briefing. The 59th Munich Security Conference will be held over Feb. 17-19, with several global leaders attending, including U.S. Vice President Kamala Harris. (This story has been refiled to correct to Wang on second reference in paragraph 2)Reporting by Martin Pollard; Writing by Bernard Orr; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Big Tech got crushed by falling ad prices, and the damage could last well into 2023. Here's exactly how much ads cost on Google, Meta, Amazon, YouTube, TikTok and Snap.
▼ + stars: | 2023-02-06 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +8 min

Meta, Google, and Snap reported declines in ad sales, or flat ad revenue, during the fourth quarter. Out of the four big ad-supported tech companies — Google, Meta, Amazon, and Snap — only Amazon reported that its ad business grew year-over-year in the fourth quarter. Meta's ad prices have declined as the company rebuilds its ad business with artificial intelligence after getting hit by Apple's app-tracking privacy crackdown. While CPMs fell year-over-year during the fourth quarter, ad prices were 7.2% higher in the fourth quarter compared to the third quarter, according to Northbeam. The average return on Meta ad spend during the fourth quarter was $1.96, up from $1.30 in the first quarter of 2022.

☆ A woman who mistakenly visited an anti-abortion crisis pregnancy center said she was met with pushback for seeking an abortion: 'I just was not ready, and words can't make you ready for that'
▼ + stars: | 2022-12-06 | by ( Hannah Getahun | Isabella Zavarise | Katie Nixdorf | ) www.businessinsider.com time to read: +12 min

Crisis pregnancy centers outnumber abortion clinics in the US. When she got to The Keim Center in Virginia Beach, it didn't look or smell like a medical clinic — it was too nice, too inviting. Unbeknownst to her, Estefanía had walked into one of the 2,000 crisis pregnancy centers, or CPCs, in the US. "Most of the folks that work in crisis pregnancy centers are people that are on a mission to end abortion." Researchers from Middlebury College have estimated that the extinction of national abortion rights means the number of people living closer to CPCs than abortion clinics will double, and CPCs will outnumber abortion clinics 1-to-5.

☆ New research may have just paved the way for a 4-day work week
▼ + stars: | 2022-12-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

A new global study found a four-day work week was a "resounding success" in a pilot program. The research found the shortened work week was a "resounding success on virtually every dimension." Over the trial period, revenue among the participating companies rose 8.14%, and when compared to the same time period last year, revenue jumped 37.55%. The four-day work week has also caught attention of some lawmakers. "The 32-hour work week would go a long way toward finally righting that balance."

☆ Exclusive: EU embargo diverts Lukoil's Caspian oil to CPC link
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

A European Union embargo from Dec. 5 is set to ban European buyers from purchasing and transporting Russian oil. As a major route for Kazakhstan's oil, CPC oil exports are excluded from the ban. "Russian oil is leaving BTC, the reason is sanctions, BTC doesn't let Russian oil in," - one of the sources said. CPC Blend exported via the CPC pipeline currently trades at a significant discount to Azeri BTC oil, which is supplied via BTC. The main exporters of the Azeri BTC oil are Azerbaijan's SOCAR and BP, as well as Hungarian company MOL, Exxon (XOM.N) and Turkey's TPAO.

☆ Obituary: China's Jiang Zemin confounded doubters, mended U.S. ties
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +7 min

[1/5] A security guard stands next to a portrait of China's former President Jiang Zemin at an exhibition to celebrate the 90th anniversary of the founding of the Communist Party of China (CPC) in Beijing, China, July 7, 2011. Under Jiang, China weathered the 1997-1998 Asian financial crisis, joined the World Trade Organisation in 2001 and won the bid to host the 2008 Summer Olympics in Beijing. "Jiang Zemin was more ready to be natural, even though sometimes it could be perceived as vulgar, not very sophisticated." At celebrations for the 50th anniversary of the People's Republic in 1999, floats carried giant portraits of Mao, Deng and Jiang past Tiananmen Square. Jiang, like Mao, wore his trousers well above his waist and brushed his hair straight back.

☆ Factbox: U.S. offers new details on plan to cap Russian oil prices
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +3 min

Crucially, though, the guidance does not yet state what the price cap will be, something that the United States is still hashing out with its partners. Here are key points from the latest guidance:START AND STOP"While shipping and insurance are covered services, these costs are distinct from the price cap on Russian oil," the guidance stated. Any oil purchased or docked after those times, however, will need to adhere to the price cap. In addition, the price cap only applies to the first "landed" sale outside of Russia, meaning the first point at which the cargo comes ashore. They include trading and commodities brokers, and companies involved in financing, shipping, insurance, flagging, and customs brokering.

LONDON, Nov 18 (Reuters) - European refiners have found themselves oversupplied with crude as an expected shortage owing to the looming EU ban on Russian oil has yet to materialise. The front-month Brent crude futures spread narrowed sharply this week, reflecting better supply in the physical oil market as fears over the EU embargo on Russian crude begin to subside. Reuters Graphics"There's too much oil around," one European crude trader said. A G7 price cap on Russian crude also comes into effect on Dec. 5. ALTERNATIVES SOURCESTraders said refiners have adjusted to living without Russian crude, which had been a mainstay of Europe's refining system.

☆ Analysis: Shocked by Ukraine war, Russian neighbour Kazakhstan looks west
▼ + stars: | 2022-11-17 | by ( Olzhas Auyezov | ) www.reuters.com time to read: +8 min

Out of total exports of 68 million tonnes a year, 53 million tonnes of Kazakh oil move through it. The chief executive of Khazakhstan's state oil firm KazMunayGaz said this week that the target of 20 million tonnes was a "medium-term" aim. But getting Kazakh oil to Baku requires either tanker shipments across the sea or the construction of a trans-Caspian pipeline. Smailov said last week that Kazakhstan would start by sending an additional 1.5 million tonnes a year via BTC starting from 2023, gradually rising to 6-6.5 million tonnes. Kazakhstan's Aktau port, the only one equipped to load oil tankers, can handle up to 5.5 million tonnes.

☆ Ad prices are now cheaper than they've been all year. Here's how much marketers are paying for ads on Google, Meta, Amazon, and TikTok.
▼ + stars: | 2022-11-07 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +7 min

Ad prices on Meta, Amazon, and Google skyrocketed during the pandemic but are now declining. Digital ad prices are declining due to a number of factors:Advertisers are pulling back on spend on Meta and Google. Ad prices are typically low during the third quarter as marketers prepare to spend during the fourth quarter. Ad buyers usually anticipate a 15% to 20% increase in ad prices during the fourth quarter, said Vic Drabicky, founder and CEO of ad agency January Digital. As TikTok continues to build out its technology and relationships with advertisers, ad prices continue to rise.

☆ As advertisers cut spend, ads on Google, Meta, and Amazon are cheaper than they've been all year — but marketers don't expect it to last
▼ + stars: | 2022-11-02 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +7 min

Ad prices on Meta, Amazon, and Google skyrocketed during the pandemic but are now declining. Digital ad prices are declining due to a number of factors:Advertisers are pulling back on spend on Meta and Google. Ad prices are typically low during the third quarter as marketers prepare to spend during the fourth quarter. For ads designed to get people to take more immediate action, like Amazon's and Google's shopping and search ads, we looked at cost per click (CPC). As TikTok continues to build out its technology and relationships with advertisers, ad prices continue to rise.

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