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Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. A producer of key equipment such as gas turbines, converter stations and wind turbines, Siemens Energy is viewed by the German government as vital to its energy transition from fossil fuels to renewables. Frankfurt-listed shares in Siemens Energy were up 3% at 0757 GMT. Siemens Gamesa, once considered the future growth driver for Siemens Energy, has become a millstone around the group's neck after deeper-than-expected wind turbine quality issues were disclosed in June. As part of the financial backing agreed with stakeholders, Siemens Energy said it would sell an 18% stake in Indian firm Siemens Ltd (SIEM.NS) to Siemens AG at a discount of 15%, confirming a previous Reuters story.

Persons: Dado, Christian Bruch, Spain's, Christoph Steitz, Linda Pasquini, Mark Potter Organizations: Siemens Energy, REUTERS, Siemens, Siemens Gamesa, Siemens AG, Reuters, Siemens Ltd, Thomson Locations: Frankfurt, MUNICH

☆ Siemen Energy's rescue package 'is not state aid,' company CEO says
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSiemen Energy's rescue package 'is not state aid,' company CEO saysSiemens Energy CEO Christian Bruch discusses state guarantees offered to the energy company and the outlook for the energy industry.

Persons: Christian Bruch Organizations: Siemens Energy

☆ Siemens Energy clinches state guarantees as it posts a 4.6 billion euro annual loss
▼ + stars: | 2023-11-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Siemens Energy has secured 7.5 billion euros ($8.15 billion) in project-related state guarantees from the German government, hours before announcing a nearly 5 billion euro loss for its fiscal year. Problems with manufacturing faults at its wind turbine subsidiary Siemens Gamesa led Siemens Energy to scrap its profit forecast earlier this year. The guarantees are intended to insure the company's customers on prepayments and execution of contracts in order to shore up its huge 112 billion euro order book. On Wednesday, the company reported an annual net loss of 4.6 billion euro for its fiscal year, compounded by a fourth-quarter net loss of 870 million euros. The company denied the fiscal guarantees constitute "state aid," with Siemens Energy CEO Christian Bruch telling CNBC on Wednesday that there is no cash involved.

Persons: Christian Bruch, Bruch, it's, CNBC's Organizations: Siemens Energy, Siemens AG, Private, Siemens, CNBC

☆ Why oil majors Shell and BP are combining solar energy and agricultural production
▼ + stars: | 2023-11-14 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

Stoffels owns this land, but leases it to Lightsource BP, a major solar energy developer that's 50% owned by British oil major BP. An emerging industry called agrivoltaics combines solar energy production with agricultural activities such as sheep grazing, beekeeping and crop growing. Today, the U.S. has about five gigawatts of agrivoltaic projects, encompassing more than 35,000 acres across over 30 different states. Shell is also involved in the space through its 44% stake in solar developer Silicon Ranch. While most solar developers opt to lease land, Silicon Ranch buys it outright, often purchasing degraded farmland that's no longer in production.

Persons: Amanda Stoffels, munch, Stoffels, Lightsource, Jordan Macknick, Macknick, Lee, Tom Koranek, Becca Jones, Albertus, Katie Brigham Lightsource, Reagan Farr, Farr, Exxon haven't Organizations: Elm, BP, Lightsource, Lead, National Renewable Energy Laboratory, U.S, U.S . Department, Energy's Solar Energy Technologies Office, Shell, Silicon Ranch, Ranch, Power, Chevron, Exxon Locations: Dallas , Texas, United States, Elm, Ellis County , Texas, Lightsource, U.S, Briar, Navarro County , Texas, agrivoltaics

The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. REUTERS/Jason Reed/File Photo Acquire Licensing RightsSYDNEY, Nov 13 (Reuters) - Australian pension fund AustralianSuper said on Monday it had rejected an "eleventh hour" offer from a Brookfield-led consortium and its partner EIG to drop its opposition to their $10.5 billion bid for Origin Energy and join the takeover. AustralianSuper said it was Origin Energy's largest shareholder, but did not specify the size of its stake as it has done in previous releases. Brookfield argues its bid, which comes with the commitment of A$20 to A$30 billion worth of investment, will decarbonise Origin Energy faster than if the company remains in public hands. However, AustralianSuper said on Monday it was also open to stumping up cash to fund Origin's transition.

Persons: Jason Reed, AustralianSuper, EIG, Luke Edwards, Lewis Jackson, Alasdair Pal, Stephen Coates Organizations: REUTERS, Rights, Origin Energy, Financial, Brookfield, Renewable, Thomson Locations: Melbourne, Australia, Brookfield, Sydney

A European company has canceled plans to build blades for offshore wind turbines in coastal Virginia, the latest sign of struggle within the U.S.'s nascent industry. Dominion said its 176-turbine project will be the largest offshore wind farm under development in the U.S. The main appeal of offshore wind for supporters, including environmentalists and many state governments, is that it doesn't burn fossil fuels and therefore drive climate change. But opponents claim offshore wind is inherently unworkable without massive financial subsidies. But the costs of renewable energy — wind, solar, and other forms — have been declining, while becoming increasingly competitive, he said.

Persons: Siemens Gamesa, Joe Biden, Robert McNab, ” McNab, “ Organizations: Siemens, Dominion, U.S, Old Dominion University Locations: Virginia, Port of Virginia, Portsmouth, Spain, U.S, New Jersey, Massachusetts, Spanish, Connecticut, Virginia Beach, Europe, Norfolk , Virginia

☆ Bank of America sees energy storage as the one ‘bright spot’ in renewable industry, upgrades a name
▼ + stars: | 2023-11-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Investors should bet on Fluence Energy as storage demand for renewable energy grows with robust interest from asset owners across the country and input costs for battery cells rapidly decline, according to Bank of America. The bank upgraded the stock to buy from neutral and raised its price target to $26 per share from $24, calling a "bright spot" in the renewable energy space. The analyst also sees the company's earnings growing 633% to 66 cents per share in 2025. Fluence Energy shares are down more than 35% over the past three months. FLNC YTD mountain FLNC in 2023

Persons: Julien Dumoulin, Smith, Fluence Organizations: Fluence Energy, Bank of America, Bank Locations: Tuesday's, Dumoulin, California, Texas, Maryland, New York, Illinois, Bank of America . California

☆ Siemens Energy sees electrolyser sales topping 1 billion euros mid-term
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBERLIN, Nov 8 (Reuters) - Siemens Energy (ENR1n.DE) expects more than 1 billion euros ($1.1 billion) in revenues over the medium-term from its hydrogen electrolyser manufacturing business, one of the company's board members said on Wednesday. Anne-Laure de Chammard spoke to journalists on the sidelines of the opening of Siemens Energy's first electrolyser factory in Berlin, a joint venture with France's Air Liquide (AIRP.PA). Asked about the progress of those talks, de Chammard said: "We will provide more information in a later moment." For the electrolyser project that aims to produce electrolyser capacity of up to 3 gigawatts per year, Siemens Energy has received 15 million euros ($16 million) in government funding for research and development, de Chammard said.

Persons: Dado Ruvic, Anne, Laure de Chammard, De Chammard, de Chammard, Riham Alkousaa, Christina Amann, Christoph Steitz, Mark Potter Organizations: Siemens Energy, REUTERS, Rights, Siemens, France's, Thomson Locations: Berlin

☆ Proxy firm ISS recommends vote in favour of Brookfield-led consortium's Origin Energy bid
▼ + stars: | 2023-11-06 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 7 (Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) has recommended investors vote in favour of a Brookfield-led consortium's $10.5 billion bid for Australia's Origin Energy (ORG.AX). Brookfield and EIG Partners has offered A$9.53 per share for Origin Energy. AustralianSuper, which holds a 15.03% stake, has said it believes the consortium's bid substantially "undervalues" Origin and will vote against the offer. Brookfield will take ownership of Origin's energy markets business if the vote is in favour of the bid, while EIG's MidOcean Energy will gain a 27.5% stake in Australia Pacific LNG (APLNG). In that scenario, EIG will own Origin and sell the energy markets business to Brookfield, meaning remaining shareholders, including AustralianSuper, will own only APLNG.

Persons: Dado Ruvic, Scott Murdoch, Paul Simao Organizations: Brookfield, REUTERS, Rights, Services, Origin Energy, EIG Partners, Shareholders, Energy, Australia Pacific LNG, Thomson Locations: Brookfield, Australia, Sydney

☆ CNBC Daily Open: A cool jobs report heats up markets
▼ + stars: | 2023-11-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning weekStocks and bonds in the U.S. rallied in tandem on Friday as markets digested jobs data and rebounded from October lows. Musk's GrokElon Musk's new AI company, xAI, released Grok, a generative artificial intelligence chatbot similar to ChatGPT. But Buffett's company did register a loss of $24.1 billion in the third quarter because of drops in Apple's shares.

Persons: nonfarm, That's, Grok Elon, Grok, Berkshire Hathaway, Stocks, Piper Sandler Organizations: Los Angeles, CNBC, Siemens, India's Siemens Ltd Locations: Los Angeles , California, U.S

UBS lowered its rating on Albemarle to neutral from buy, slashing its price target by more than 40%. Analyst Matthew Hedberg initiated coverage of the data stock at an outperform rating with a $22 target price for shares. Hedberg's price target implies shares could climb 23.9% over the next year from Friday's close. In addition to the downgrade, analyst Jessica Reif Ehrlich slashed her price target on the stock to $9 from $32. Analyst Joshua Spector downgraded the stock to neutral from buy and slashed his price target to $140 from $253.

Persons: Ferrari, Matthew Hedberg, Hedberg, Alex Harring, Jason Bazinet, Bazinet, — Alex Harring, Jefferies, Brent Thill, Thill, Jessica Reif Ehrlich, Reif, Vivek Arya, Arya, Nicholas Campanella, Campanella, " Campanella, Banks, Goldman Sachs, Citi's Paul Lejuez, Baird, Mark Altschwager, Morgan Stanley, Edouard Aubin, Aubin, there's, Henning Cosman, Cosman, Joshua Spector, Spector Organizations: CNBC, UBS, Barclays, Bank of America, Nvidia, RBC, RBC Capital Markets, Citi, Disney, Jefferies, Paramount, Paramount Global, Dominion Energy, Dominion, Wall, JPMorgan, Ferrari, U.S, UBS downgrades Locations: Albemarle, Friday's, China, Birkenstock

☆ Pipeline operator Enbridge beats profit targets on higher transport volumes
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 3 (Reuters) - Pipeline operator Enbridge (ENB.TO) on Friday beat third-quarter profit estimates, benefiting from transporting higher volumes of oil and other liquids. Calgary, Alberta-based Enbridge moves about 30% of the crude oil produced in North America, and nearly 20% of the natural gas consumed in the United States. Mainline system transports light and heavy crude oil, natural gas liquids, and refined products from Edmonton, Alberta to various markets in Canada and the U.S. Midwest. In September, the company announced a $14 billion bid for Dominion Energy's (D.N) three utility assets, to create North America's largest gas utility platform. ($1 = 1.3735 Canadian dollars)Reporting by Tanay Dhumal in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Gregory Ebel, Ebel, Tanay, Shinjini Organizations: REUTERS, U.S . Midwest, Quarterly, Dominion, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, Ukraine, Calgary , Alberta, North America, United States, Edmonton , Alberta, Enbridge, Bengaluru

"AustralianSuper believes Origin has a highly strategic portfolio of assets to participate in, and benefit from, the energy transition," a spokesperson said. Origin shares plunged as much as 5.6% to A$8.565 in high-volume trading following the news, as AustralianSuper's 13.68% holding could scupper a deal that requires approval from 75% of the register if not all investors vote. Should the deal fail at the shareholder vote scheduled for Nov. 23, a revised agreement allows the consortium to make a subsequent off-market bid if it buys 5% or more of Origin shares. "If it gets voted down, Brookfield aren't obligated to come back with an off-market takeover offer, but they may be inclined to," he said. Should the deal close, Brookfield and its partners GIC and Temasek will own Origin's Energy Markets business, which includes power generation and retailing.

Persons: Dado Ruvic, AustralianSuper, Canada's Brookfield, Brookfield, Jamie Hannah, Simon Mawhinney, Allan Gray, Stewart Upson, Scott Murdoch, Lewis Jackson, Sameer Manekar, Jamie Freed Organizations: Brookfield, REUTERS, SYDNEY, bourse, Brookfield Asia, Energy Markets, Saudi Arabia's Aramco, Australia Pacific LNG, Thomson Locations: VanEck, Brookfield, Temasek, Saudi, Australia, Sydney, Bengaluru

☆ Morning Bid: Yield curve control morphs
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

It will keep buying bonds, but time will tell whether and how tenaciously it will impede yields rising beyond 1%. After touching an almost 10-year low in morning trade, Japanese government bond futures rallied following the announcement. For the meantime the sense that some sort of anchor remains also spread some cheer to Treasury trade, sparking a brief rally. Falls in Hong Kong and Shanghai led MSCI's broadest index of Asia-Pacific shares outside Japan 0.9% lower (.MIAPJ0000PUS). Meanwhile, outside of markets, Hamas said its militants fired anti-tank missiles at Israel's invading forces in Gaza early on Tuesday as the conflict intensified.

Persons: Tom Westbrook, DAOU, Christopher Cushing Organizations: REUTERS, Staff, Bank of Japan, Nikkei, Treasury, Bond, Federal Reserve, U.S . Treasury Department, Samsung Electronics, Brookfield consortium, Treasury Wine Estates, Anheuser, Busch Inbev, Bouygues, BASF, BP, Pfizer, Caterpillar, Thomson Locations: Frankfurt, Germany, U.S, Europe, Asia, Falls, Hong Kong, Shanghai, Pacific, Japan, Australia, Gaza

☆ Cramer's lightning round: Celsius is a buy
▼ + stars: | 2023-10-31 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon New Fortress Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Celsius's year-to-date stock performance. Celsius : "I think that Celsius is a buy here." Stock Chart Icon Stock chart icon NCR Atleos' year-to-date stock performance. Stock Chart Icon Stock chart icon Kinsale Capital Group's year-to-date stock performance.

Persons: Wes Edens, Chubb Organizations: New Fortress Energy, NCR, Kinsale Capital Locations: Kinsale

☆ Siemens Energy shares recover further as guarantee talks continue
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +3 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsFRANKFURT/BERLIN, Oct 30 (Reuters) - Shares in Siemens Energy continued their recovery on Monday, topping Germany's blue-chip index as concerns over the group's ability to post guarantees for big industrial projects eased. Siemens (SIEGn.DE), which owns a 25.1% stake in Siemens Energy, was up 1.6%. News of the talks pushed Siemens Energy's shares to a record low last week on concerns the issue around guarantees could have an impact on the group's balance sheet. Around half of that, or about 15 billion euros, needs to be covered by the government, banks and Siemens, the sources said.

Persons: Chris Helgren, Joe Kaeser, Kaeser, Christoph Steitz, Markus Wacket, Rachel More, Mark Potter Organizations: Siemens Energy, REUTERS, Siemens, German Economy Ministry, Reuters, Welt, Thomson Locations: Vancouver , British Columbia, Canada, FRANKFURT, BERLIN, downpayments

Oct 30 (Reuters) - 3D metal-printing startup Seurat Technologies on Monday hinted at potentially going public in the medium-term and said it had raised $99 million in a funding round co-led by chip designer Nvidia's (NVDA.O) venture capital arm. With the latest series C funding round, the company's valuation will approach $350 million, said a source who asked not to be named. The fundraise, co-led by Nvidia's NVentures and Capricorn's Technology Impact Fund, brought in new investors Honda Motor (7267.T) and Cubit Capital. Existing backers including Porsche and venture capital units of Xerox Holdings (XRX.O) and General Motors Co (GM.N) also participated. "Seurat's local factory deployment model provides the industry with a solution to near-shore manufacturing and to increase the resiliency of supply chains," said existing investor Porsche Automobil Holding's (PSHG_p.DE) board member Lutz Meschke.

Persons: Seurat, James DeMuth, Nvidia's NVentures, Porsche Automobil, Lutz Meschke, Akash Sriram, Devika Organizations: Technologies, Reuters, Technology, Honda Motor, Cubit, Porsche, Xerox Holdings, General Motors Co, Siemens Energy's, Thomson Locations: China, Massachusetts, Bengaluru

☆ Explainer: Why is Siemens Energy seeking $16 billion state guarantees?
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +5 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. To make sure it can get the guarantees to fulfil its order backlog, Siemens Energy has turned to the government. Siemens owns a 25.1% stake in Siemens Energy and has not ruled out helping. Siemens still provides around 7 billion euros of performance guarantees to projects Siemens Energy is working on, significantly down from the 40 billion euros at the time of the spin-off around three years ago. Apart from seeking guarantees from the government, banks and Siemens, Siemens Energy said it is "evaluating various measures to strengthen the balance sheet", without elaborating further.

Persons: Chris Helgren, Banks, Roland Busch, hade, Andreas Rinke, Christoph Steitz, Victoria Farr, Andres Gonzalez, Pablo Mayo, Alexander Huebner, Tom Kaeckenhoff, Josephine Mason, Susan Fenton Organizations: Siemens Energy, REUTERS, Siemens, International Chamber of Commerce, German Economy Ministry, SIEMENS, Triton, Pablo Mayo Cerqueiro, Thomson Locations: Vancouver , British Columbia, Canada, downpayments, Berlin, Frankfurt, London, Munich

☆ Why we don't have fusion power plants yet, and what it'll take to get clean, limitless energy to market
▼ + stars: | 2023-10-29 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +9 min

Two experts explain how long it could take until fusion power plants are possible. Fusion plants could theoretically produce almost 4 million times as much energy as burning coal or oil — with none of the carbon emissions. It's what Andrew Christlieb, who is part of a US Department of Energy fusion project at Michigan State University, calls "step zero." The US Department of Energy's Fusion Energy Sciences program has a $763 million budget for 2023, which could grow to over $1 billion next year. Achieving commercial fusion power in two decades won't be quick enough to address many countries' goals of adapting clean energy and limiting global warming by 2035.

Persons: It's, Andrew Christlieb, Christlieb, Michael Livingston, PPPL, Jean, Paul Pelissier, it's, Jason Laurea, Lawrence, Jonathan Menard, Menard, Bill Gates, Sam Altman Organizations: Service, Ignition, NIF, US Department of Energy, Michigan State University, Royal Society, Reactor, REUTERS, European Union, Lawrence Livermore National Laboratory, Princeton Plasma Physics, US Department of Energy's Fusion Energy Sciences, Fusion Industry Association, Tech Locations: PPPL, Saint, Durance , Southern France, US, China, Russia, Lawrence Livermore, Princeton

☆ The US is updating its nuclear arsenal amid growing security fears
▼ + stars: | 2023-10-28 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

The US Department of Defense announced plans to build a new gravity bomb. The announcement comes several days after the US issued a worldwide caution travel advisory. AdvertisementAdvertisementThe Department of Defense announced Saturday the US plans to add a new model of nuclear bomb to its arsenal. AdvertisementAdvertisementThe announcement comes just one week after the US announced a worldwide caution travel advisory amid the Israel-Hamas war. The US last issued a worldwide caution alert in August 2022 following the killing of al-Qaeda leader Ayman al-Zawahiri, per CNN.

Persons: —, Ayman al, Zawahiri, Todd Brown Organizations: US Department of Defense, Service, of Defense, The, National Nuclear Security Administration, Department of Defense, US, Department of State, CNN, State Department Locations: Israel

☆ Siemens Energy shares slide 39% after company seeks guarantees from German govt
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. The weekly said Siemens Energy is seeking up to 15 billion euros in guarantees. Siemens remains an anchor investor in Siemens Energy, retaining a 25.1% stake. The government was ready to help Siemens Energy while stakeholders also will have to play their role, they said. J.P. Morgan said in a note that the energy transition will require substantially higher rates of investments, which will bring commercial opportunities for Siemens Energy and sector peers.

Persons: Chris Helgren, Siemens Gamesa, WirtschaftsWoche, Morgan, Matthias Inverardi, Christian Kraemer, Alexander Huebner, Vera Eckert, Friederike Heine, Miranda Murray, Sabine Wollrab, Rachel More, Jan Harvey, Susan Fenton Organizations: Siemens Energy, REUTERS, Companies Company, Siemens, Siemens AG, Reuters Graphics Reuters, Spiegel, European Commission, Siemens Gamesa, Thomson Locations: Vancouver , British Columbia, Canada, BERLIN, Berlin

☆ Economists fear major disruption if the Israel-Hamas conflict is not contained
▼ + stars: | 2023-10-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

ReutersAny possible escalation of the Israel-Hamas war poses a major risk to the global economy, driving up energy prices and disrupting key trade routes, economists have warned. Israel's subsequent bombardment of Gaza in a bid to eliminate Hamas has increased the risk of a spillover to the wider Middle East region. The events in recent days have deepened the greatest fear among economists, that the conflict engulfs the region and begins to pose a long-term threat to global energy and trade infrastructure. Back then oil prices gained 30% in a matter of two weeks before settling at around 15% above pre-war levels," said J. Safra Sarasin Equity Strategist Wolf von Rotberg. "You choke off those points and you create major disruption not just to oil prices, but the whole supply chain of the world for energy and other goods as well."

Persons: Israel's, Isaac Herzog, Pat Thaker, Thaker, Brent, J . Safra Sarasin, J, Wolf von Rotberg, Elijah Oliveros, Rosen, Oliveros, Paul Gruenwald, Gruenwald Organizations: Hamas, Reuters, Palestinian, Lebanese, Hezbollah, Economist Intelligence Unit, CNBC, Fed, ECB, West Texas, J ., Safra Sarasin Equity Locations: Israel, Palestinian, Gaza, Lebanon, East, Africa, Saudi, Ukraine, Europe, Iran, Tehran, Saudi Arabia, Suez, Persian, Hormuz, U.S, Chile, Turkey, Thailand, Philippines, India, Egypt

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Oct 23 (Reuters) - China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. There is much potential for further escalation in this unfolding critical minerals battle between China and the West. Previous restrictions on lower-grade graphite exports destined for the steel and lubricants sectors have been rescinded. The world's graphite supply chain could well be in for a similar short-term shock. Western governments are still evaluating their response, waiting like the rest of us to see how China's graphite volumes play out in the coming months.

Persons: Fabian Bimmer, Wei Jianguo, Wei, Biden, Obama, Trump, Adam Hodge, China's Wei, David Evans Organizations: Volkswagen, REUTERS, Commerce, U.S, Chips, Benchmark Minerals, U.S . Department, Department of Defense, EV, World Trade Organization, European Union, WTO, Thomson, Reuters Locations: Salzgitter, Germany, China, U.S, Alaska, Australia, Japan

☆ Amazon says bottles allegedly containing delivery drivers' urine listed as energy drink on its website was a 'crude stunt'
▼ + stars: | 2023-10-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Oobah Butler says he was able to list and sell Amazon drivers' urine on the marketplace. An Amazon spokesperson called it a "crude stunt" and said no "genuine customer" bought the product. Insider has previously reported that urinating in bottles has become a common part of the job for Amazon delivery drivers. In the past, the company has denied its delivery drivers pee in bottles, but later admitted some of its drivers do urinate in bottles on the job. On Monday, an Amazon spokesperson told Insider that drivers are given reminders to take breaks throughout the day.

Persons: Oobah Butler, Butler, —, WIRED, he'd, they've, they'd, – Organizations: Amazon, Service, Energy Locations: Coventry

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. Brent crude futures rose $1.00, or 1.1%, to $93.26 a barrel by 11:24 a.m. EDT (1524 GMT). Both front-month contracts were headed for a second weekly gain on heightened fears of the Middle East conflict spreading. "The Middle East remains a big focus of the market because of fears of a region-wide conflict that would likely involve a disruption of oil supplies," said John Kilduff, a partner at New York-based Again Capital. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, John Kilduff, Kilduff, Yoav Gallant, Washington's, Phil Flynn, Tamas Varga, PVM, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio Our Organizations: REUTERS, . West Texas, Israeli, Pentagon, . Strategic Petroleum Reserve, Price Futures, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, BENGALURU, Israel, New York, Yemen, Saudi Arabia, Russia, OPEC

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