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☆ Carrefour Brasil bets on know-how to expand small stores operation
▼ + stars: | 2023-06-29 | by ( Carolina Pulice | ) www.reuters.com time to read: +2 min

MEXICO CITY (Reuters) - Grupo Carrefour Brasil launched a franchise model of convenience stores in the Brazilian market on Wednesday, aiming to tap into its know-how from years of experience in Europe, a top executive said. FILE PHOTO: A general view of a Carrefour supermarket in Sao Paulo, Brazil July 18, 2017. REUTERS/Paulo WhitakerCarrefour Brasil’s convenience executive director Joao Edson Gravata said that the franchise format would put Carrefour in a stronger position to take on competitors. Those stores would supplement its 152 existing Brazilian company-owned Carrefour Express format stores. About a year ago Grupo Nos, a venture between Brazilian energy firm Raizen and Mexican retailer Femsa, launched its first Oxxo-branded convenience stores.

Persons: Paulo Whitaker, Joao Edson Gravata, Gravata, “, ”, Pedro Melo, Alberto Serrentino, Melo, Pao Organizations: MEXICO CITY, Grupo Carrefour Brasil, Carrefour, REUTERS, Paulo Whitaker Carrefour, Carrefour Express, Pontifical Catholic University, Sao Paulo, PUC, Grupo Ultra’s, Grupo, Dia, Hirota Locations: MEXICO, Europe, Sao Paulo, Brazil, Brazil’s

☆ Russia gas flows through Ukraine could stop next year - FT
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

The chances of Kyiv and Moscow agreeing to a renewal of the five-year transit contract first signed in 2019 were slim, even though the route through Ukraine accounts for almost 5% of Europe's total gas imports, the newspaper reported. Russian gas giant Gazprom (GAZP.MM) warned in April that Europe's ability to maintain ample gas stocks in the 2023/2024 winter hinges on Asia's demand given "critically low" supplies from Russia. European gas prices rose last year on Gazprom's threat to cut flows to Moldova, as the supply route, which goes through Ukraine, is the last functioning Russian gas corridor to Europe. The European Union last year invested heavily in LNG imports and adopted regulation to boost storage to fend off any shortage after Russian gas supplies to Europe shrank following Moscow's special military operation in Ukraine. Reporting by Baranjot Kaur in Bengaluru; Editing by Christopher Cushing and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Galushchenko, Baranjot Kaur, Christopher Cushing, Sonali Paul Organizations: Gazprom PAO, Gazprom, Financial Times, German, European Union, Thomson Locations: Russia, Europe, Ukraine, Kyiv, Moscow, Moldova, Bengaluru

Companies NK Rosneft' PAO FollowJune 19 (Reuters) - Oil prices fell on Monday as questions over China's economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. "(China's) economy is navigating through powerful headwinds," said PVM oil analyst Tamas Varga. In recent weeks global road traffic has been declining, said Jorge Leon, Rystad Energy's senior vice president, which may also point to slowing growth and drag on oil prices. Iran's crude exports and oil output have hit record highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source close to the matter, adding to global supply when other producers are limiting output. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia this month agreed on a new oil output deal and the group's biggest producer, Saudi Arabia, also pledged to make a deep cut to its output in July.

Persons: Brent, Tamas Varga, Jorge Leon, Rystad Energy's, Leon, Nia Williams, Ahmad Ghaddar, Katya Golubkova, Emily Chow, David Goodman, Kirsten Donovan Organizations: NK Rosneft, West Texas, of, Petroleum, Thomson Locations: United States, U.S, China, Europe, Russia, Saudi Arabia, British Columbia, London, Tokyo, Singapore

☆ Oil falls on China growth uncertainties
▼ + stars: | 2023-06-19 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

Companies NK Rosneft' PAO FollowLONDON, June 19 (Reuters) - Oil prices fell on Monday as questions over China's economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude fell 17 cents, or 0.2%, to $76.44 a barrel by 0944 GMT while U.S. West Texas Intermediate (WTI) crude lost 31 cents, or 0.4%, to $71.47. "(China's) economy is navigating through powerful headwinds," said PVM oil analyst Tamas Varga. The oil and gas rig count, an early indicator of future output, fell by eight to 687 in the week to June 16 for the lowest total since April 2022. , , . Iran's crude exports and oil output have hit record highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source close to the matter, adding to global supply when other producers are limiting output.

Persons: Brent, Tamas Varga, Ahmad Ghaddar, Katya Golubkova, Emily Chow, David Goodman Organizations: NK Rosneft, West Texas, Reuters, of, Petroleum, Thomson Locations: United States, China, U.S, Russia, Saudi Arabia, Tokyo, Singapore

A number of major banks have cut their 2023 gross domestic product growth forecasts for China after May data last week showed the post-COVID recovery in the world's second-largest economy was faltering. The oil and gas rig count, an early indicator of future output, fell by 8 to 687 in the week to June 16, lowest since April 2022. , , . Earlier this month, OPEC+ had agreed on a new oil output deal. The group's biggest producer Saudi Arabia also pledged to make a deep cut to its output in July. Reporting by Katya Golubkova in Tokyo and Emily Chow in Singapore; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Tina Teng, PBOC, Edward Moya, Moya, Igor Sechin, Sechin, Katya Golubkova, Emily Chow, Tom Hogue Organizations: NK Rosneft, U.S, West Texas, People's Bank of China's, CMC Markets, Reuters, of, Petroleum, Thomson Locations: TOKYO, United States, China, U.S, Russia, OPEC, Saudi Arabia, Tokyo, Singapore

☆ Russia's Novatek has developed its own LNG-producing technology
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

Companies Novatek PAO FollowMOSCOW, June 13 (Reuters) - Russian company Novatek (NVTK.MM) said on Tuesday it has developed its own technology to produce large-scale volumes of liquefied natural gas (LNG), a key step in boosting LNG production and raising Russia's global share in the fuel market. The company said it obtained a Russian patent for its proprietary technology called "Arctic Mix" for large-scale natural gas liquefaction using mixed refrigerants. Novatek also said the production process has been developed to implement the company's large-scale projects on gravity-based structures with a production capacity of more than 6 million tonnes per year for one producing line. Russia lacks LNG production technologies following withdrawal of Western companies with their know-how last year over Moscow's actions in Ukraine. "This innovation is an important step towards the localization of liquefaction process trains in alignment with the Company's strategic objective to develop LNG technologies in Russia," Novatek said.

Persons: PAO, Novatek, Vladimir Soldatkin, David Evans Organizations: Thomson Locations: MOSCOW, Russia, Ukraine

☆ Gen Z is forcing fast-food restaurants to change their menus. They're now offering more spicy food and chicken to lure in younger diners.
▼ + stars: | 2023-05-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Gen Z diners crave spicy food and chicken more than other generations. Restaurant execs say that younger diners crave spicy food and chicken. "Spice levels generally heat up with younger generations," Fabiola Del Rio, VP of integrated marketing communications at Panda Express, told Insider. And where they can, Gen Zers like to get their chicken spicy, too. Or a restaurant exec who's noticed interesting dining patterns among your Gen Z customers?

HONG KONG, May 16 (Reuters) - Hong Kong's leader said on Tuesday public libraries needed to ensure books don't violate local laws, amid criticism that many books and videos related to China's Tiananmen Square crackdown have now been removed from library shelves. If they want to buy, they can buy," Hong Kong's chief executive John Lee told reporters when asked about the removal of June 4 literature and documentaries from public libraries. "What libraries need to do is to ensure that there's no breach of any laws in Hong Kong, including of course, copyrights etc, and also if they spread any kind of messages that are not in the interests of Hong Kong," Lee added, without elaborating. Public memorials and commemorations of China's bloody Tiananmen Square crackdown in 1989 were once allowed in Hong Kong, unlike mainland China where it is a taboo and censored topic. Hong Kong's Ming Pao newspaper reported that more than 40 percent of video materials and books involving "political themes" had been removed from public libraries since 2020.

Under the terms of the agreement, up to $4 billion in Turkish energy payments to Russia may be postponed until next year, both sources told Reuters under condition of anonymity. Turkey, which is preparing for elections on Sunday, depends heavily on energy imports and Russia is its largest supplier. The source said Turkey could push back further such payments in the coming months depending on the course of energy prices. The Russian and Turkish energy ministries, and their respective energy companies Gazprom and Botas, have not responded to requests for comment on the issue. Turkish Energy Minister Fatih Donmez said last week that Turkey and Moscow agreed a deal allowing Ankara to defer energy payments up to a certain amount, but did not give details.

☆ Russian carmaker files third lawsuit against Volkswagen
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowGaz PAO FollowMay 6 (Reuters) - Russian carmaker GAZ (GAZA.MM) has filed a lawsuit worth 15.6 billion roubles ($200.5 million) against Volkswagen (VOWG_p.DE), court records show, adding to two others filed earlier this year. The lawsuit, details of which have not been published, was filed with the Nizhny Novgorod Regional Arbitration Court on Friday. Earlier this year, GAZ filed two lawsuits against the German carmaker seeking a total of around $545 million in losses and damages, saying VW's moves to exit the Russian market had put its interests at risk. It initially persuaded a court to freeze Volkswagen's assets in Russia pending court proceedings - a decision the court reversed in April. Volkswagen is preparing to sell its Russian assets, including its flagship plant in the city of Kaluga that has annual production capacity of 225,000 vehicles, but no decision has been made and Russian government approval is pending.

☆ Lukoil's net profit declines 22% to $1.3 billion in Q1
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

Companies NK Lukoil PAO FollowMay 2 (Reuters) - Russian oil company Lukoil (LKOH.MM) posted a net profit under Russian Accounting Standards (RAS) of 104.3 billion roubles ($1.3 billion) in the first quarter of 2023, down 22% from 133.4 billion roubles in the same period 2022. The RAS data does not typically take into account financials from subsidiaries. Russia's second-largest oil producer said that its revenues fell by 63% to 455.83 billion roubles in the January - March period. Lukoil, like many other Russian businesses, stopped publishing their financial results calculated under international standards, after Moscow had sent its troops into Ukraine in February 2022. ($1 = 79.9000 roubles)Reporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Sputnik/Gavriil Grigorov/Kremlin via REUTERS/File PhotoApril 25 (Reuters) - President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signaling Moscow could take similar action against other companies if need be. The decree - outlining possible retaliation if Russian assets abroad are seized - showed Moscow had already taken action against Uniper SE's (UN01.DE) Russian division and the assets of Finland's Fortum Oyj (FORTUM.HE). Rosimushchestvo said more foreign firms could find their assets under temporary Russian control, TASS reported. Last October European Council President Charles Michel said the EU was looking at using Russian assets frozen under sanctions against Moscow towards rebuilding Ukraine. Fortum had already warned shareholders there was a risk its Russian assets could be expropriated.

☆ People are so desperate to get an EV that they're putting deposits down on multiple and buying whichever one is built first
▼ + stars: | 2023-03-31 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

Without dealers, startups are learning new lessons in customer service. "At this point I've pretty much made up my mind," Pao said, "I'm just going to cancel my Rivian order." EV startups learn customer serviceElectric vehicle startups are learning a tough lesson in customer service, Caldwell said, as they try to keep would-be buyers on the hook for years on end. Some of Rivan's order-holders are losing hopeInsider has spoken or corresponded with nearly three dozen current and former Rivian order holders in recent months. Are you a current or former Rivian employee, Rivian vehicle owner, or Rivian order holder?

☆ Russia may demand compensation over Nord Stream explosions -diplomat
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowMOSCOW, March 27 (Reuters) - Moscow may seek compensation over damage from last year's explosions on the Nord Stream gas pipelines, news agency RIA Novosti reported on Monday, citing a Russian diplomat. The pipelines, which connect Russia and Germany under the Baltic Sea, were hit by unexplained blasts last September in what Moscow called an act of "international terrorism". "We do not rule out later the raising of the issue of compensation for damage as a result of the explosion of the Nord Stream gas pipelines," Dmitry Birichevsky, the head of Russia's Foreign Ministry department for economic cooperation, said in an interview with the news agency. He added that Western countries were opposing a Russia-prepared draft U.N. Security Council resolution urging an independent international investigation of the Nord Stream blasts. "Despite this, we intend to continue to insist on a comprehensive and open international investigation with the mandatory participation of Russian representatives," Birichevsky said.

☆ Moldova no longer needs Russian gas, minister says
▼ + stars: | 2023-03-16 | by ( Alexander Tanas | ) www.reuters.com time to read: +2 min

Companies Gazprom PAO FollowCHISINAU, March 15 (Reuters) - Ex-Soviet Moldova is no longer receiving Russian gas or enduring the "blackmail" imposed by gas giant Gazprom over its difficulties in paying for supplies, the country's energy minister said. But when the (rest of Moldova) was getting gas, the Russian company resorted to supply cuts, to blackmail." A contingent of 1,500 Russian "peacekeepers" remain in the separatist region 30 years after a brief war pitting it against newly independent Moldova. Transdniestria channels funds from gas bills paid by domestic and industrial users to a "gas account" used to cover some of its substantial budget deficits. The sum of Transdniestria's unpaid bills for Russian gas is estimated by Moldovan officials at several billion dollars.

☆ French retailer Casino selling down stake in Brazil's Assai
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

Casino said it would be selling 12.9% of Assai's share capital, representing 174 million shares. The French company said the sale formed part of its previously announced plans to sell assets. Casino said the sale amount could be increased by up to 80 million common shares, representing an extra 5.9% of Assai's share capital. Casino owns a 30.5% stake in Assai, according to the Brazilian firm's website. Casino is also in exclusive talks to combine its French retail business with smaller food retailer Teract (TRACT.PA).

☆ A disturbing image of an elephant with a deformed spine shows the brutal toll that tourist rides can have
▼ + stars: | 2023-03-10 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +2 min

Pictures of rescued elephants show the toll of the tourist trade on the hard-working animals. Unlike horses, elephants were not bred to be ridden and tourist treks can cause irreversible damage. Amy Jones/Moving Animals/WFFTPai Lin, the elephant shown on the left, was rescued after more than 25 years in the trekking industry. Boon Chuey, shown below, is another elephant whose spine was deformed by the tourist trade, per the WFFT. Amy Jones/Moving Animals/WFFT"It's important to understand that elephants, unlike horses, are not bred to be ridden.

☆ These hopeful electric-car buyers have deposits at multiple automakers. They just want a car.
▼ + stars: | 2023-03-10 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

"At this point I've pretty much made up my mind," Pao said, "I'm just going to cancel my Rivian order." Customers are hedging their bets with orders for vehicles from multiple companies, from startups like Rivian to legacy companies like Ford and Toyota. EV startups learn customer serviceElectric vehicle startups are learning a tough lesson in customer service, Caldwell said, as they try to keep would-be buyers on the hook for years on end. Some of Rivan's order-holders are losing hopeInsider has spoken or corresponded with nearly three dozen current and former Rivian order holders in recent months. Are you a current or former Rivian employee, Rivian vehicle owner, or Rivian order holder?

☆ Germany says no results yet of Nord Stream pipelines sabotage investigation
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowBERLIN, March 7 (Reuters) - The German government on Tuesday said it had taken note of a New York Times report that said new intelligence suggested a pro-Ukrainian group carried out the Nord Stream pipelines attack last year but its own investigation has not yet reached results. Sweden, Denmark and Germany informed the United Nations Security Council a few days ago that the investigations are ongoing and that there are still no results, a spokesperson for the Chancellery said. "The Federal Public Prosecutor has been investigating the matter since the beginning of October 2022. Germany's public prosecutor was not immediately available for comment on the report, which Reuters could not immediately independently verify. Reporting by Riham Alkousaa; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

☆ Russia proposes caps on oil export discounts -draft law
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

Companies NK Rosneft' PAO FollowMOSCOW, Feb 12 (Reuters) - Russia's State Duma introduced a bill late on Saturday setting discounts for Russian oil exports, according to the lower house of parliament's website. Under the draft proposal, the discount on dated Brent oil will be limited to $34 per barrel in April, declining to $31 in May, $28 in June and $25 in July. The government has been debating how to calculate Russia's taxable oil price following the European Union's import ban and the resulting lack of a reliable price-setting mechanism. Russia currently uses Urals price assessments in Europe's Rotterdam and Augusta ports, provided by commodity price reporting agency Argus, to determine its mineral extraction tax, additional income tax, oil export duty and reverse excise on oil. Russia said on Friday it will cut oil production by 500,000 barrels per day, or around 5% of output, in March, following the West's imposition of price caps on Russian oil and oil products.

☆ Russia: U.S. has questions to answer over Nord Stream explosions
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

Companies Gazprom PAO FollowFeb 8 (Reuters) - Russia's foreign ministry said on Wednesday the United States had questions to answer over its role in explosions on the undersea Nord Stream gas pipelines last year. Reuters was unable to verify the report, published by U.S. investigative journalist Seymour Hersh on his blog, alleging U.S. involvement in the explosions. The White House said on Wednesday that Hersh's account was "utterly false and complete fiction". Moscow, without providing evidence, has repeatedly said the West was behind the explosions affecting the Nord Stream 1 and 2 pipelines last September - multibillion-dollar infrastructure projects that carried Russian gas to Germany under the Baltic Sea. Russia said the countries "have something to hide" and are purposefully blocking Russia out from the investigation.

☆ These are Trader Joe’s customer’s favorite items
▼ + stars: | 2023-01-29 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —Trader Joe’s asked its customers a simple question: If you were to spend the rest of your life on a deserted island, which nine Trader Joe’s products would you take with you? The first Trader Joe’s opened in Pasadena, California, in 1967. Rolled Corn Tortilla Chips Chili & Lime Trader Joe'sSee the all-time favorites included in Trader Joe’s Hall of FameThe chips also won in the poll’s favorite snack category. Top EntreeReplacing the longtime Mandarin Orange Chicken is Trader Joe’s Butter Chicken – spiced chicken in a tomato and cream sauce with basmati rice. Indian is popular with Trader Joe’s customers.

☆ Uniper CEO: Nord Stream can be fixed, but unclear if Germany wants Russian gas
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies Uniper SE FollowGazprom PAO FollowFRANKFURT, Jan 17 (Reuters) - The damaged Nord Stream pipelines can be fixed in around six months to a year, the boss of bailed out German gas trader Uniper said on Tuesday, adding that it still remained unclear whether Germany wants the supply relationship to continue. "The first question that needs answering: what's the political will on a European level and in Berlin to bring Russian gas to Germany?" outgoing Uniper (UN01.DE) CEO Klaus-Dieter Maubach told the annual Handelsblatt Energy summit. Reporting by Christoph Steitz and Vera Eckert; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Russia suggests Sweden has 'something to hide' in Nord Stream blast probe
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

Companies Gazprom PAO FollowJan 12 (Reuters) - Russia questioned on Thursday whether Sweden had "something to hide" over explosions that damaged the Nord Stream gas pipelines last year, as it slammed Stockholm for not sharing information in the ongoing investigations into the blasts. Swedish and Danish authorities are investigating four holes in the Nord Stream 1 and 2 pipelines which link Russia and Germany via the Baltic Sea and have become a flashpoint in the Ukraine crisis. Zakharova said Sweden was "concealing" facts about what it had discovered in the investigation, suggesting that "the Swedish authorities have something to hide". Sweden and other European investigators say the attacks were carried out on purpose, but they have not said who they think was responsible. Construction of Nord Stream 2, designed to carry Russian gas to Germany, was completed in September 2021, but was never put into operation after Berlin shelved certification just days before Moscow sent its troops into Ukraine in February.

☆ Czech firm Net4Gas missing latest payments from Gazprom
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Companies Net4Gas sro FollowGazprom PAO FollowPRAGUE, Jan 5 (Reuters) - Czech natural gas transmission system operator Net4Gas (N4G) has not received the latest monthly contracted payments from Russia's Gazprom, a government minister said. Net4Gas had been in the past shipping Russian gas from Germany through the Czech Republic to Slovakia and on to Austria. In October, Fitch Ratings agency affirmed N4G at 'BB+' and said its base scenario assumed "full or near-complete shut-off of Russian pipeline gas to Europe and no payments from Gazprom." The Czech Republic has scrambled to get alternative supplies through liquefied natural gas shipments and flows from Norway and elsewhere. Flows between Slovakia and the Czech Republic have been running in both directions depending on demand.

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