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☆ Hyundai to build Saudi car plant jointly with Saudi wealth fund
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsRIYADH, Oct 22 (Reuters) - South Korea's Hyundai Motor Group (005380.KS) will build a car plant in Saudi Arabia jointly with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, South Korea's President Yoon Suk Yeol said on Sunday. Hyundai Motor Group, the world's No. Yoon visited Saudi Arabia where he met with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler. Yoon traveled with a delegation of business leaders including Hyundai Motor Group Executive Chair E.S.

Persons: Andrew Kelly, Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Chung, Prince Mohammed, Pesha Magid, Heekyong Yang, Aziz El Yaakoubi, John Stonestreet, David Holmes Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai Motor Group, Public Investment Fund, South, Hyundai, South Korean, Saudi Crown, Thomson Locations: Manhattan , New York City, U.S, Rights RIYADH, KS, Saudi Arabia, Saudi, Riyadh, Gulf

☆ Egyptian army says border guards hurt in accidental hit by Israeli tank
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 22 (Reuters) - Several Egyptian border guards sustained minor injuries on Sunday after being accidentally hit by fragments of a shell from an Israeli tank, a spokesperson for the Egyptian army said. Israel's military earlier said one of its tanks accidentally hit an Egyptian position near the border with the Gaza Strip. Israel's defence force "expresses sorrow regarding the incident," which is being investigated," it said in a statement, giving no further details. Reporting by Ari Rabinovitch and Mahmoud Mourad; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

Persons: Ari Rabinovitch, Mahmoud Mourad, John Stonestreet Organizations: Thomson Locations: DUBAI, Gaza

☆ IMF says Asian economies under cosh as China's property woes bite
▼ + stars: | 2023-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

China's post-lockdown economic boost lost momentum earlier than expected, the IMF said. "On the downside, a more protracted real estate crisis and limited policy response in China would deepen the regional slowdown." A sudden tightening of global financial conditions could lead to capital outflows and weaken exchange rates in Asia, the blog added. "While Asia is still set to contribute about two-thirds of all global growth this year, it is important to note that growth is significantly lower than what was projected before the pandemic," the IMF said. The Bank of Japan (BOJ) had maintained a cap on the country's 10-year bond yield at around zero, to support a fragile economy.

Persons: Aly, Leika, John Stonestreet Organizations: China Evergrande Group, REUTERS, China, International Monetary Fund, IMF, Bank of Japan, Thomson Locations: Danzhou, Hainan province, China, Asia, MARRAKECH, Morroco, U.S, outflows, Marrakech, Japan

☆ ECB policymakers eye springtime push to cut payments on banks' deposits, sources say
▼ + stars: | 2023-10-13 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

MARRAKECH, Oct 13 (Reuters) - European Central Bank policymakers are planning a springtime push to cut interest payments made to commercial banks, in part to recoup some of the costs associated with a decade worth of stimulus, sources familiar with discussions said. That would mean overall interest payments to lenders - which still earn the ECB deposit rate, currently 4%, on other excess cash parked with the central bank - would be reduced further. But the ECB rejected the proposal in July, partly on resistance from its Executive Board, the sources said. The board's key argument is that excess liquidity is distributed unevenly across the euro zone and raising the ratio would put an excessive burden on smaller banks with a larger portion of deposits. Deutsche Bank CEO Christian Sewing argued that the change would add to banks' financial burdens and restrict their lending options.

Persons: Bundesbank, Joachim Nagel, Robert Holzmann, Latvia's Martin Kazaks, Isabel Schnabel, Austria's Holzmann, France's Francois Villeroy de, Pierre Wunsch, We're, Schnabel, Deutsche Bank CEO Christian Sewing, Tom Sims, John Stonestreet Organizations: Central Bank, ECB, Austrian, Barclays, Deutsche Bank CEO Christian, Thomson Locations: MARRAKECH

☆ Teams Tackling Madeira Wildfires Reinforced as Missing Tourists Found
▼ + stars: | 2023-10-13 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

The Civil Protection authority on Friday morning located the missing tourists. They had fled to a cave in a mountainous part of Porto Moniz and an operation to rescue them from the area was under way, it said on social media. "It was a complicated night, a difficult night," Civil Protection secretary of state Patricia Gaspar told public broadcaster RTP at Lisbon's military airport. A few houses have been destroyed in Calheta and Porto Moniz, but no serious injuries reported so far, authorities said. Porto Moniz mayor Emanuel Camara told RTP it was a "night to forget" and that "many people" were evacuated as a precaution.

Persons: Catarina Demony, Porto, Porto Moniz, Patricia Gaspar, Carlos Teles, Emanuel Camara, Gaspar, Inti Landauro, John Stonestreet Organizations: Friday, Porto Moniz, RTP, Camara de Lobos Locations: Catarina Demony LISBON, Portugal, Madeira, Calheta, Porto, Camara, Funchal

☆ Taiwan urges progress on EU investment deal as bloc courts chip firms
▼ + stars: | 2023-10-12 | by ( Ben Blanchard | ) www.reuters.com time to read: +3 min

Taiwan National Development Council Minister Kung Ming-hsin poses during an interview with Reuters in Taipei, Taiwan, April 23, 2021. Taiwan has repeatedly pushed for the conclusion of a Bilateral Investment Agreement (BIA) with the EU, saying it would help encourage more Taiwanese investment, especially from chip companies. The EU identified Taiwan as a candidate for a BIA in 2015, but no talks have taken place on the issue. "On the basis of this mutual trust... can you tell EU headquarters, on the BIA, can it start, effectively moving it forward?" A Taiwanese government official said last month that Taiwan is seeking other trade agreements with the EU given the BIA is a "long shot".

Persons: Taiwan National Development Council Minister Kung Ming, hsin, Ben Blanchard, Development Council Minister Kung Ming, Tsai Ing, Tsai, John Stonestreet Organizations: Taiwan National Development Council Minister, Reuters, REUTERS, Rights, European Union, BIA, European, EU, Development Council Minister, Trade Organisation, Taiwan Semiconductor Manufacturing Corp, chipmaker, Thomson Locations: Taiwan, Taipei, Rights TAIPEI, EU, Europe, Asia, China, Beijing, Germany

☆ Oil falls after Saudi pledge; investors keep wary eye on Israel
▼ + stars: | 2023-10-11 | by ( Nicole Jao | ) www.reuters.com time to read: +4 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Prices settled slightly lower on Tuesday after Saudi Arabia said it was working with regional and international partners to prevent an escalation, and reaffirmed its efforts to stabilise oil markets. Moreover, in the higher rates environment moving forward that “could put the brakes on the upside as far as crude oil,” Yawger said. Russia and Saudi Arabia met in Moscow on Wednesday, when Russian president Vladimir Putin said that OPEC+ coordination will continue "for the predictability of the oil market." Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. EIA said in an outlook.

Persons: Agustin Marcarian, Brent, WTI, …, ”, Bob Yawger, ” Yawger, Tamas Varga, Magid Shenouda, Vladimir Putin, Putin, Janet Yellen, Nicole Jao, Robert Harvey, Laura Sanicola, Muyu Xu, Sharon Singleton, John Stonestreet Organizations: REUTERS, Saudi, . Federal Reserve, . West Texas, . Energy Information Administration, Mizuho, Exxon Mobil, Natural Resources, Organization of, Petroleum, U.S, U.S . Federal, Treasury, EIA, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Gaza, Moscow, Brent, Israel, Palestinian, Russia, OPEC, U.S ., U.S, Europe, New York

☆ IMF says Sri Lanka debt talks ongoing, unaware of specific deals
▼ + stars: | 2023-10-11 | by ( Jorgelina Do Rosario | Thomson Reuters | Jorgelina Do Rosario Is Emerging Markets Correspondent At Reuters Based In London | ) www.reuters.com time to read: +3 min

A general view of the main business district as rain clouds gather above in Colombo, Sri Lanka, November 17, 2020. Peter Breuer told Reuters on the sidelines of the World Bank IMF annual meetings in Marrakech that talks between Sri Lanka and all its creditors were ongoing. "We will need to assess the entire package of agreements in its totality to assess consistency with IMF debt targets," Breuer said. Sri Lanka, mired in its worst economic crisis in 70 years, is in debt restructuring talks with a range of creditors, including China, its largest single creditor. Sri Lanka owed Exim $4.1 billion, or 11% of it foreign currency debt, at the end of 2022.

Persons: Dinuka, Peter Breuer, Breuer, Ranjith Siyambalapitiya, Jamie Fallon, Rosario, Libby George, Karin Strohecker, John Stonestreet, Nick Macfie Organizations: REUTERS, Rights, Monetary Fund, Sri, Reuters, World Bank IMF, Export, Import Bank of, Paris Club, Tellimer Research, Thomson Locations: Colombo, Sri Lanka, Rights MARRAKECH, China, Marrakech, Import Bank of China, Japan, India, France

☆ Dollar pauses ahead of Fed minutes, US yield moves weigh
▼ + stars: | 2023-10-11 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. U.S. Treasury yields continued to slide, pinning the dollar close to two-week lows as markets digest recent comments from policymakers that the Fed may not need to tighten monetary policy further. The benchmark 10-year U.S. Treasury yield dropped ten basis points, extending declines from Tuesday after a sharp sell-off in September left bonds cheap. On Tuesday, Atlanta Fed Bank President Raphael Bostic said the central bank did not need to raise borrowing costs any further, while Minneapolis Fed President Neel Kashkari said it was "possible" that further hikes might not be needed. The European Central Bank has made "important progress" in getting inflation back down to target but there is still a long road ahead and a further rate hike cannot be ruled out, Dutch central bank chief Klaas Knot said on Wednesday.

Persons: Rick Wilking, Raphael Bostic, Neel Kashkari, Sterling, Klaas Knot, Iain Withers, Rae Wee, John Stonestreet, Kirsten Donovan Organizations: REUTERS, Federal, Treasury, Hamas, ING, Atlanta Fed Bank, Minneapolis, Bank's, ECB, European Central Bank, Thomson Locations: Westminster , Colorado, Israel, Palestinian, U.S, London, Singapore

☆ A Minute With: Director Tim Burton showcases drawings, calls movies his 'troubled children'
▼ + stars: | 2023-10-11 | by ( Sarah Mills | ) www.reuters.com time to read: +2 min

[1/5] Surrounded by American filmmaker and animator Tim Burton is seen in this undated handout photo obtained by Reuters on October 11, 2023. Tim Burton/Handout via REUTERS Acquire Licensing RightsOct 11, 2023 - Oscar-nominated director Tim Burton says he has no favourites when it comes to his movies, describing them all as "troubled children". Known for films including "Edward Scissorhands", "Frankenweenie" and "Corpse Bride", Burton has also been showcasing his drawings and models in exhibitions. In an interview, Burton reflected on the show's latest incarnation, the "The World of Tim Burton", which opened on Wednesday at the Mole Antonelliana in Turin, Italy. Burton: "It started with the MoMA (Museum of Modern Art) show (in 2009) which took a couple of years to curate.

Persons: Tim Burton, Oscar, Edward Scissorhands, Burton, Jack, I've, Sarah Mills, John Stonestreet Organizations: Reuters, REUTERS Acquire, MoMA, Modern, Thomson Locations: Handout, Turin, Italy, New York

☆ IMF fiscal chief: U.S., China must rein in debt, face different challenges
▼ + stars: | 2023-10-11 | by ( David Lawder | ) www.reuters.com time to read: +3 min

IMF Director of Fiscal Affairs Vitor Gaspar speaks to reporters at the headquarters of the International Monetary Fund in Washington, U.S., October 12, 2022. Continuing along their projected fiscal paths will ultimately cause difficulties for the world's two largest economies, Gaspar told Reuters in an interview. The U.S. and China are fueling a projected return to higher debt levels after two years of falling debt-to-GDP ratios as a post-COVID growth surge fades. DEFICITS RISINGGaspar said the challenge for the United States was persistently high and growing budget deficits. GROWTH FADESChina faces different challenges, the largest of which is slowing economic growth.

Persons: Vitor Gaspar, James Lawler Duggan, Gaspar, David Lawder, John Stonestreet Organizations: Fiscal, International Monetary Fund, REUTERS, Rights, Monetary Fund Fiscal, Reuters, U.S, Congressional Budget Office, Social, Thomson Locations: Washington , U.S, Rights MARRAKECH, Morocco, U.S, China, United States, Washington

☆ Euro zone consumers see inflation slightly above ECB target for years
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsFRANKFURT, Oct 11 (Reuters) - Euro zone households see inflation staying slightly above the European Central Bank's 2% target for another three years, an ECB survey showed, as rate-setters struggle to convince the public that their plans for taming price pressures are on track. While consumer expectations for inflation are by nature imprecise, they can influence wage demands, spending and saving. Consumers' views about inflation in the coming 12 months showed a slight increase to 3.5%, from 3.4% in July. The ECB has said that long-term inflation expectations from economists, investors and consumers are "at around 2%", but cautioned that some projections have risen and should be monitored. But they turned more optimistic about their income - seen growing by 1.2% from 1.1% - and raised their predictions for home price inflation, to 2.3% from 2.1%, for the first time since March.

Persons: Sarah Meyssonnier, Francesco Canepa, Alison Williams, John Stonestreet Organizations: Carrefour, REUTERS, Rights, Central, ECB, Thomson Locations: Montesson, Paris, France

[1/2] People walk through debris after a powerful storm and heavy rainfall hit Libya, in Derna, Libya, September 12, 2023 in this still image from video obtained from social media. Officials in eastern Libya say the death toll so far stands at more than 5,000. A hospital director in the city told Reuters on Monday 1,700 bodies had been counted at his hospital, and that 500 more had been buried in another part of the city. Extensive damage, with buildings missing, is also clearly visible in other parts of the city where flood waters broke out from the waterway. Derna is in an eastern area where a parallel administration operates, and where control is wielded by commander Khalifa Haftar's Libyan National Army.

Persons: Mustafa Salem, Khalifa Haftar's, Abdulhamid, Mohammed, Menfi, Tom Perry, Angus McDowall, John Stonestreet, Peter Graff Organizations: ALI, REUTERS Acquire, Reuters, of National Unity, Khalifa Haftar's Libyan National Army, Libya's, Humanitarian Affairs, Thomson Locations: Libya, Derna, DERNA, Libyan, Derna's, Tripoli, Qatar, Turkey

Homes were carried away by torrents, vital infrastructure was destroyed and crops in the country's second-largest tract of farmland wiped out. "I don't think we have realised the magnitude of this disaster yet," Professor Efthymios Lekkas, a disaster management expert, told state broadcaster ERT on Friday. "We have been on the mountain," Dimitris, one of the stranded villagers, told Skai television. One of the breadbaskets of Greece, Thessaly represents about 15 percent of the country's annual agricultural output. ($1 = 0.9328 euros)Additional reporting by Michele Kambas; Writing By Michele Kambas; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

Persons: Louisa Gouliamaki, Efthymios Lekkas, George Tsatrafyllias, Kyriakos Mitsotakis, Kostas Agorastos, Dimitris, Lekkas, Michele Kambas, John Stonestreet Organizations: REUTERS, Greece Storm ebbs, ERT, Thomson Locations: Larissa, Greece, Thessaly, London, Thessaloniki, Vlochos, Karditsa

☆ Magnitude 6.8 earthquake strikes south of New Zealand's Kermadec Islands - GFZ
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: 1 min

Sept 8 (Reuters) - A magnitude 6.8 earthquake struck south of New Zealand's Kermadec Islands on Friday, the German Research Centre for Geosciences (GFZ) said. The quake's epicentre was 80 kilometres (49 miles) below the surface, GFZ said. Reporting by Kanjyik Ghosh in Bengaluru; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

Persons: GFZ, Kanjyik Ghosh, John Stonestreet Organizations: German Research Centre, Geosciences, Thomson Locations: New, Islands, Bengaluru

☆ Japan PM Kishida plans Sept 13 cabinet reshuffle, coalition partner says
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Japan's Prime Minister Fumio Kishida speaks during the leaders talk of the ASEAN-Indo Pacific Forum (AIPF) in Jakarta, Indonesia September 6, 2023. Adek Berry/Pool via REUTERS/File photo Acquire Licensing RightsTOKYO, Sept 8 (Reuters) - Japanese Prime Minister Fumio Kishida plans to reshuffle his cabinet on Sept. 13, the head of the junior partner in Kishida's ruling coalition said on Friday. On Thursday, there was further bad news when former ruling Liberal Democratic Party member Masatoshi Akimoto was arrested on suspicion of taking bribes. 56% of people thought Kishida should renew his cabinet and shake up the senior executives of the ruling party. Reporting by Kantaro Komiya, Sakura Murakami, Kiyoshi Takenaka; editing by John Stonestreet and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Fumio Kishida, Adek Berry, Natsuo Yamaguchi, Kishida, Masatoshi Akimoto, Akimoto, Kantaro Komiya, Sakura Murakami, Kiyoshi Takenaka, John Stonestreet, Susan Fenton Organizations: Japan's, ASEAN, Pacific, Rights, Public, NHK, Liberal Democratic Party, Asahi, Yomiuri, Thomson Locations: Jakarta, Indonesia, India

☆ Britain rejoins EU's Horizon science programme in further boost for ties
▼ + stars: | 2023-09-07 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

Britain's Prime Minister Rishi Sunak during a visit to Kent Scientific Services in West Malling, Kent, Britain, May 30, 2023. The agreement, which excludes the EU's Euratom nuclear research scheme, signals a further improvement in bilateral relations seven months after a row over trade was resolved. Prime Minister Rishi Sunak's office said in a statement he had secured "improved financial terms of association" with the Horizon project. "This is the right deal for the UK, unlocking unparalleled research opportunities, and also the right deal for British taxpayers," Sunak said. Sunak's office said Britain would also associate with the European earth observation programme Copernicus, but not with the EU's Euratom programme, instead choosing to pursue a domestic fusion energy strategy.

Persons: Rishi Sunak, Daniel Leal, Sunak, Copernicus, Rishi Sunak's, Ursula von der Leyen, Alistair Smout, Kylie MacLellan, Elizabeth Piper, John Stonestreet Organizations: Britain's, Kent Scientific Services, REUTERS Acquire, EU, LONDON, Union's, Horizon, Twitter, Northern Ireland, Thomson Locations: West Malling, Kent, Britain, Horizon Europe, Europe, EU

☆ Factbox: Horizon project: Which EU science schemes has Britain joined?
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Daniel Leal/Pool via REUTERS/File Photo Acquire Licensing RightsLONDON, Sept 7 (Reuters) - Britain on Thursday said it would join the European Union's flagship Horizon science research programme and its Copernicus earth observation programme, but not the Euratom nuclear research initiative. HORIZON EUROPEHorizon Europe is the EU's key funding programme for scientific research and innovation with a budget of 95.5 billion euros ($102.3 billion). It has five main missions: Adapting to climate change, making climate neutral cities, combating cancer, and restoring oceans and soil. COPERNICUSCopernicus, previously known as GMES (Global Monitoring for Environment and Security), is the Earth observation component of the EU'S Space programme. EURATOMThe EU describes the Euratom Research and Training programme as a "complementary funding programme to Horizon Europe" covering nuclear research and innovation, using the same instruments and participation rules.

Persons: Rishi Sunak, Daniel Leal, COPERNICUS Copernicus, Nicolaus Copernicus, Euratom, Alistair Smout, John Stonestreet Organizations: Britain's, Kent Scientific Services, European Union's, Environment, Security, EU, Research, Thomson Locations: West Malling, Kent, Britain, European, Europe

☆ France: Teen dies after collision with police car near Paris
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

PARIS, Sept 7 (Reuters) - The French government on Thursday called for calm following the death of a 16-year-old boy whose motorbike collided with a police car on a road outside Paris. Government spokesman Olivier Veran said the investigations under way would determine the "exact circumstances" of Wednesday's collision. I am calling for restraint and careful consideration," he said on France Inter radio. The death of the teenager, whose ethnicity had not been reported, occurred as France gears up to host the Rugby World Cup. The tournament kicks off on Friday when France play New Zealand at the Stade de France near Paris.

Persons: Olivier Veran, Dominique Vidalon, Alain Acco, Christina Fincher, John Stonestreet Organizations: Prosecutors, Government, France Inter, Rugby, New Zealand, Stade de France, Thomson Locations: Paris, Elancourt, Yvelines, Nanterre, France

A lawyer representing the boy's family accused police of ramming a patrol car into his motocross bike during a high-speed chase on Wednesday. Prosecutors said that they were treating the incident as "unintentional" and were looking for videos to ascertain the facts. The crash happened just over two months after police shot and killed a 17-year-old of North African descent at a traffic stop in the Paris suburb of Nanterre. The tournament, one of the major events on this year's international sporting calendar, kicks off on Friday when France play New Zealand at the Stade de France near Paris. Reporting by Dominique Vidalon, Alain Acco, Layli Foroudi; Editing by John Stonestreet and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, France's, Olivier Veran, Dominique Vidalon, Alain Acco, Layli, John Stonestreet, Rosalba O'Brien Organizations: REUTERS, Police, Prosecutors, France Inter, Rugby, New Zealand, Stade de France, Thomson Locations: Nanterre, Paris suburb, France, PARIS, Paris, Elancourt, Yvelines

☆ BOJ policymaker sees shift in Japan's deflationary mindset
▼ + stars: | 2023-09-06 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Policymaker Takata stressed the need to maintain ultra-loose monetary policy for the time being, as slowing global growth was heightening uncertainty on whether the Bank of Japan's (BOJ) 2% inflation target was sustainably achievable. In an earlier speech, he said he believe Japan's economy was "finally seeing early signs" of achieving the 2% target. Two other BOJ board members earlier gave diverging views on how soon the central bank should consider scaling back its radical stimulus. Japan's core inflation hit 3.1% in July, exceeding the BOJ's 2% target for the 16th straight month. BOJ officials have said the central bank must keep interest rates ultra-low until robust domestic demand and sustained wage growth replace rising import costs as key drivers of inflation.

Persons: Androniki, Takata, Hajime Takata, Policymaker Takata, Haruhiko Kuroda, Leika Kihara, Tetsushi Kajimoto, Takahiko Wada, Tom Hogue, Lincoln, John Stonestreet Organizations: REUTERS, Bank of Japan's, CHINA IMPACT, Thomson Locations: Japan, Tokyo, TOKYO, China, CHINA

☆ Oil edges lower as markets shrug off supply jitters
▼ + stars: | 2023-09-06 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

NEW DELHI, Sept 6 (Reuters) - Oil prices reversed course on Wednesday after rising over 1% in the previous session, as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia and a firm dollar capped the upside. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies. "Iran is producing close to 3.1 million barrels per day (bpd) and plans to pump around 3.4 million bpd. Reflecting supply concerns in the near term, the front-month Brent futures traded near 9-month highs at $4.13 a barrel above prices in six months. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.

Persons: Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates, John Stonestreet Organizations: Brent, . West Texas, Rystad Energy, ING Economics, ING, REUTERS, U.S, Saudi, Acme Investment Advisors, Thomson Locations: DELHI, Saudi Arabia, Russia, Iran, Volgograd, U.S, New Delhi, Houston

☆ Morning Bid: Restive markets simmer after oil sideswipe
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. That's a moment in the whole disinflation story as it virtually wipes out the negative annual base effect so powerful this year in helping drag headline inflation rates back down. The more complicated inflation picture comes against the week's downbeat business surveys from Europe and Japan. That take was reinforced overnight by a New York Fed study that suggested the theoretical 'neutral' interest rate keeping the economy at equilibrium continued to fall in the second quarter. The energy picture saw Asia and European bourses in the red again, with Japan's Nikkei (.N225) bucking the trend.

Persons: Brendan McDermid, Mike Dolan Roiled, Lorie Logan, Susan Collins, Mike Dolan, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Treasury, Bank of Canada, New, New York Fed, NY, Japan's Nikkei, Dallas Federal, Boston Fed, Reuters Graphics Reuters, Thomson, Reuters Locations: New York City, U.S, Saudi Arabia, Russia, That's, Europe, Japan . U.S, New York, Asia, European, Canada

☆ Jimmy Buffett, American singer-songwriter, dies at 76
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

Sept 2 (Reuters) - American singer-songwriter Jimmy Buffett, best known for his "Margaritaville" escapist tribute to the tropical life, has died at the age of 76, according to his website on Saturday. "Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs. Buffett made 27 studio albums - with four platinum and eight gold albums - in a career that spanned over five decades and included writing and running a business empire. He is survived by his wife Jane Slagsvol, their two daughters, Sarah and Savannah, and son, Cameron. Reporting by Baranjot Kaur in Bengaluru Editing by John Stonestreet and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Jimmy Buffett, Jimmy, Margaritaville, Buffett, Jane Slagsvol, Cameron, Baranjot Kaur, John Stonestreet, Frances Kerry Organizations: Thomson Locations: Savannah, Bengaluru

☆ Italy FM: Belt and Road China deal did not bring expected results
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

Visitors walk past a wall with a map showing the species of peony in Belt and Road Initiative (BRI) countries, at horticultural exhibition Beijing Expo 2019, in Beijing, China April 29, 2019. REUTERS/Stringer/file photo Acquire Licensing RightsCERNOBBIO, Italy, Sept 2 (Reuters) - Trade between Italy and China has not improved as expected since Rome joined Beijing's Belt and Road Initiative four years ago, Italy's Foreign Minister said on Saturday. Under a previous government, Italy in 2019 became the first major Western nation to join China's infrastructure initiative, despite protests from the United States. "The Silk Road did not bring the results we expected," Antonio Tajani said at the European House Ambrosetti economic forum shortly before leaving on a trip to China. Italy's Prime Minister Giorgia Meloni said she was planning to visit China in one of her next trips abroad.

Persons: Stringer, Rome, Antonio Tajani, Tajani, Giorgia Meloni, Francesca Landini, Giselda, John Stonestreet, Tomasz Janowski Organizations: Initiative, REUTERS, House, Italy's, Thomson Locations: Beijing, China, Italy, Beijing's, United States, Rome

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