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☆ Zelenskiy invites Xi to visit Ukraine - AP
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Ukrainian President Volodymyr Zelenskiy has extended an invitation to Chinese President Xi Jinping to visit, the Associated Press reported on Wednesday. Xi has not talked to Zelenskiy since Russia's invasion of Ukraine in February last year but China published a 12-point plan for "a political resolution of the Ukraine crisis" last month. But the United States has been dismissive of the proposal, given that China has declined to condemn Russia over its invasion of Ukraine. The United States says a ceasefire now would lock in Russian territorial gains and give Putin's army more time to regroup. Ukraine has welcomed China's diplomatic involvement but Zelenskiy has said he will only consider peace settlements after Russian troops leave Ukrainian territory.

☆ Starbucks, union at odds over hybrid negotiations
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

March 28 (Reuters) - Starbucks Corp (SBUX.O), which has faced criticism over its opposition to union organizing, said the labor union representing some of its stores has rejected in-person bargaining sessions and is insisting on hybrid negotiations. Starbucks Workers United, which represents thousands of U.S. baristas at about 200 cafes, conducted unauthorized virtual broadcasts of bargaining sessions without prior agreement from all parties, Starbucks said in a statement to Reuters on Monday. "Workers United is asking for a seat at the table, we're simply encouraging them take their seat in-person at the negotiating table, as required, to move the bargaining process forward," the company said. This comes after National Labor Relations Board (NLRB) prosecutors alleged that Starbucks violated labor law by refusing to engage in bargaining if some workers were attending remotely via videoconference, according to a Bloomberg report. "Now that it's clear we have the right to bargain using a virtual component, we hope Starbucks is ready, too," Tyler Keeling, a leader of the Starbucks Workers United in California said.

☆ First Citizens Bank to buy SVB's deposits, loans from FDIC
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: 1 min

March 27 (Reuters) - First Citizens Bank & Trust Co will buy all of Silicon Valley Bank's (SIVB.O) deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Biden declares emergency for Mississippi due to storm damage
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: 1 min

[1/2] An aerial view of destroyed homes after thunderstorms spawning high straight-line winds and tornadoes ripped across the state in Rolling Fork, Mississippi, U.S., March 25, 2023. REUTERS/Cheney OrrMarch 26 (Reuters) - U.S. President Joe Biden approved an emergency declaration for Mississippi on Sunday after a powerful storm tore across the state, killing at least 25 people there and one in Alabama. Biden ordered federal aid to supplement state, tribal and local recovery efforts in the affected areas, a White House Statement said. The funding will be available to affected people in the counties of Carroll, Humphreys, Monroe, and Sharkey, the statement said. Reporting by Jahnavi Nidumolu in Bengaluru Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Adani Group suspends work on $4.2 bln project in India's Gujarat - PTI
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

March 19 (Reuters) - Adani Group has suspended work on a 349 billion rupee ($4.2 billion) petrochemical project at Mundra in India's western Gujarat state as it focuses on consolidating operations and addressing investor concerns after the Hindenburg shortseller report, according to the Press Trust of India. Adani Group did not immediately respond to a Reuters' request for a comment. On Jan. 24, Hindenburg Research alleged stock manipulation and improper use of tax havens, and flagged concerns over debt levels at the company, which Adani has denied. India's top court has since asked market regulator SEBI to investigate Adani Group for any lapses related to public shareholding norms or regulatory disclosures. read more($1 = 82.5200 Indian rupees)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ India's Adani prepays $2.15 billion share-backed loans
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +1 min

March 12 (Reuters) - Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.15 billion as part of its debt prepayment plan, before its deadline of March 31. Adani Group last year acquired Holcim AG's (HOLN.S) cement businesses in India – Ambuja Cements and ACC Ltd – for $10.5 billion, its largest-ever acquisition. Hindenburg's report alleged stock manipulation and improper use of tax havens, and flagged "substantial" debt levels, which the group has denied. Gautam Adani and his family have prepaid all borrowings backed by his conglomerate Adani Group's shares, senior executives told investors at a meeting in London, Bloomberg News reported last week. Reporting by Baranjot Kaur and Jahnavi Nidumolu in Bengaluru; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ India tech minister plans to meet startups on SVB fallout
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +3 min

"Start-ups are an important part of the new India economy. I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis," Rajeev Chandrasekhar, the state minister for IT said on Twitter. "Spoke to some founders and it is very bad," Ashish Dave, CEO of Mirae Asset Venture Investments (India), wrote in a tweet. "Especially for Indian founders ... who setup their U.S. companies and raised their initial round, SVB is default bank. Software firm Freshworks (FRSH.O) said it has minimal exposure to the SVB situation relative to the company's overall balance sheet.

☆ Scotland's health minister Humza Yousaf to run for country's leadership
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 18 (Reuters) - Scottish Health Minister Humza Yousaf said on Saturday he would run in the leadership contest to replace Nicola Sturgeon as Scottish National Party (SNP) leader and first minister. Yousaf becomes the first to publicly announce his intention to stand in the race after Sturgeon's surprise resignation earlier in the week saying she had become too divisive and too tired to carry on. loadingThe SNP has said it will choose a new leader within six weeks through a ballot of its members, which will close on March 27. Sturgeon, 52, said she was not leaving politics and that she would stay on until a successor has been picked. Reporting by Muvija M, additional reporting by Jahnavi Nidumolu; Editing by Kylie MacLellan and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Public Storage makes $11 billion offer for Life Storage
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - Public Storage (PSA.N) said on Sunday it made an $11 billion offer to acquire all of the outstanding shares and units of Life Storage Inc (LSI.N). Under the terms of the proposed deal, Life Storage shareholders would receive 0.4192 share of Public Storage stock for each Life Storage share or unit, which represents a 19% premium, according to Public Storage. The offer made in a letter to Life Storage's management would not be the first time the Glendale-based company has expressed interest. Life Storage denied Public Storage's offer under similar terms in January, saying that the offer is not in the best interests of its shareholders and said it was "not for sale" when Public Storage first expressed interest in December. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Lisa Shumaker and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Adani Group plans to trim its capital spending plans, Mint reports
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of the Adani Group is seen on the wall of its realty office building on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit DaveFeb 6 (Reuters) - India's Adani Group plans to trim its capital spending plans, newspaper Mint reported on Monday citing people close to the development, days after the conglomerate's flagship firm called off a $2.5 billion share sale. While providing more collateral in the form of stock pledges to lenders, the group may moderate its capex plans in some of its businesses, the newspaper reported. Adani Group did not immediately respond to a Reuters request for comment outside of business hours. The group will use alternative funding channels from internal accruals, promoter equity funding and private placements to fund projects, Mint said.

☆ Gautam Adani in talks to prepay share pledges to boost confidence - Bloomberg News
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

Feb 2 (Reuters) - Adani Group Chairman Gautam Adani is in talks with lenders to prepay and release pledged shares as he seeks to restore confidence in the financial health of his conglomerate, Bloomberg News reported on Thursday. The move would see lenders release some of the stock in Adani Group companies that was pledged as collateral, Bloomberg reported, citing a person with knowledge of the matter. The group hasn't faced margin calls on these pledges and is seeking the prepayment proactively, according to the report. The key priority is to remove any concern about margin calls and Adani officials will speak with investors in coming days and will make all payments on time, Bloomberg reported. A spokesperson for Adani Group did not immediately respond to a Reuters request for comment outside business hours.

The Jan. 24 report has triggered an $86 billion erosion in market capitalisation of seven listed Adani Group companies. "To go through this exercise of a share sale and to call it off raises more questions." After the share sale was pulled, yields of dollar-denominated bonds issued by Adani companies rose on Wednesday. Adani Group was working with its bankers to refund the proceeds received by in the secondary share sale of Adani Enterprises. The share sale had succeeded on Tuesday even when the Adani Enterprises stock price in Mumbai markets traded below the offer price of the share sale.

☆ Adani abandons $2.5 billion share sale in big blow to Indian tycoon
▼ + stars: | 2023-02-01 | by ( Aditya Kalra | ) www.reuters.com time to read: +4 min

"Today the market has been unprecedented, and our stock price has fluctuated over the course of the day. A report by Hindenburg Research last week alleged improper use by the of offshore tax havens and stock manipulation by the Adani Group. The Jan. 24 report has since triggered a $86 billion erosion in market capitalisation of seven listed Adani Group companies. REFUNDSAdani Group was working with its bankers to refund the proceeds received by in the secondary share sale of Adani Enterprises. The share sale had succeeded on Tuesday even when the Adani Enterprises stock price in Mumbai markets traded below the offer price of the share sale.

☆ Iraqi PM supports indefinite U.S. troop presence, Wall Street Journal reports
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

Jan 15 (Reuters) - Iraqi Prime Minister Mohammed al-Sudani defended the presence of U.S. troops in his country and set no timetable for their withdrawal, in an interview with the Wall Street Journal published on Sunday. Referring to the U.S. and NATO troop contingents that train and assist Iraqi units in countering Islamic State but largely stay out of combat, Sudani said that the foreign forces are still needed. "Elimination of ISIS needs some more time," he said in the interview. "I don’t see this as an impossible matter, to see Iraq have a good relationship with Iran and the U.S.," Sudani told the newspaper. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Hawaii's Kilauea volcano eruption resumes, alert level raised -USGS
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

[1/4] A rising lava lake is seen within Halema'uma'u crater during the eruption of Kilauea volcano in Hawaii, U.S. January 5, 2023, in this still image provided by the USGS surveillance camera. The volcano alert level was raised to 'Red' after an evaluation of the eruption and associated hazards, the notice said. USGS said the volcanic gas, which consists of sulphur dioxide and other gases, could produce a visible haze of volcanic smog, known as 'vog', which has been observed in the downwind of Kilauea. Known to be the younger and more active neighbor of Mauna Loa, which erupted in November for the first time since 1984, the Kilauea volcano has been erupting since 2021. However, Mauna Loa's eruption has had no impact and remains quiet, USGS said.

☆ WHO says China releases COVID hospital data after reporting gap
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

GENEVA, Jan 5 (Reuters) - The World Health Organization received data from China on new COVID-19 hospitalisations after a reporting gap, with figures on Thursday showing a nearly 50% increase in the week to Jan. 1. The WHO's latest report showed 22,416 new hospitalisations for mainland China in the week to Jan. 1 versus 15,161 the previous week. Over the same week, the report showed China had 218,019 new cases and 648 new deaths, although these figures typically include Hong Kong, Taiwan and Macau as well as mainland China. The WHO did not release a report last week due to end of year holidays. The body is preparing to meet Chinese scientists on Thursday as part of a wider briefing among member states on the global COVID-19 situation as concerns grow about the rapid spread of the virus in the world's No.

The Senate voted 70-25 to proceed to debate of the bill, with some Republican senators hoping to offer amendments. A handful of conservative Senate Republicans on Tuesday said they objected to the bill, but would not try to stop its passage. Top Senate Republican Mitch McConnell said most of his caucus supports it: "We're moving toward completing the business for the year. And I think in a highly productive way from the point of view of the vast majority of Senate Republicans." Among the most significant add-ons to the spending bill is the bipartisan Electoral Count Act, which overhauls and clarifies Congress' certification process for presidential elections.

WASHINGTON, Dec 20 (Reuters) - Conservative Republicans in the U.S. Senate on Tuesday expressed outrage at a $1.66 trillion government funding bill, but signaled that they did not intend to significantly delay the measure, which could lead to a weekend partial government shutdown. Fellow Republican Senator Mike Braun said the group will intensify its budget reform efforts next year, when Republicans take control of the House of Representatives. Top Senate Republican Mitch McConnell said most of his caucus supports it: "We're moving toward completing the business for the year. And I think in a highly productive way from the point of view of the vast majority of Senate Republicans." Among the most significant add-ons to the spending bill is the bipartisan Electoral Count Act, which overhauls and clarifies Congress' certification process for presidential elections.

WASHINGTON, Dec 20 (Reuters) - The U.S. Senate planned to take its first vote on a $1.66 trillion government funding bill on Tuesday, as lawmakers scrambled to pass the measure and avert a possible partial government shutdown beginning on Saturday. The total funding proposed by the sweeping bill, is up from the approximately $1.5 trillion the previous year. It also includes funding to prepare for and respond to potential nuclear and radiological incidents in Ukraine. On the non-defense side of the ledger, the bill's negotiators have set funding at $800 billion, a $68 billion increase over the previous year. This was the second year in a row Congress included funding for hundreds of largely unrelated projects requested by individual lawmakers.

WASHINGTON, Dec 20 (Reuters) - Democrats and Republicans in the U.S. Congress were moving forward with a $1.66 trillion government funding bill, scrambling to pass a measure, which includes record military spending, before temporary funding runs out on Friday. The total funding proposed by the sweeping bill, released early on Tuesday, is up from the approximately $1.5 trillion the previous year. This money would be on top of the record $858 billion in military spending for the year, which is up from last year's $740 billion and also exceeds Biden's request. On the non-defense side of the ledger, the bill's negotiators have set funding at $800 billion, a $68 billion increase over the previous year. This was the second year in a row Congress included funding for hundreds of largely unrelated projects requested by individual lawmakers.

WASHINGTON, Dec 20 (Reuters) - Democrats and Republicans in the U.S. Congress were moving forward with a $1.66 trillion government funding bill, scrambling to pass the measure, which includes record military spending, before temporary funding runs out at the end of the week. The total funding proposed by the bill is up from the approximately $1.5 trillion appropriated the previous year. Democrats and Republicans alike had aimed to tuck as many legislative wish-list items as possible into the "omnibus" bill funding the government through the end of this fiscal year on Sept. 30, 2023, without derailing the whole package. Negotiators worked through the weekend to put the finishing touches on the bill, which still could be amended by the full House or Senate. Among the most significant add-ons is the bipartisan Electoral Count Act, which overhauls and clarifies Congress' certification process for presidential elections.

☆ U.S. Congress to advance $1.7 trillion govt funding bill
▼ + stars: | 2022-12-20 | by ( Richard Cowan | ) www.reuters.com time to read: +1 min

Dec 20 (Reuters) - Negotiators in the U.S. Congress unveiled a $1.7 trillion government funding bill on Monday, as lawmakers scrambled to pass the measure, which includes including record military spending, before temporary funding runs out at the week's end. The total funding proposed by the bill is up from the approximately $1.5 trillion appropriated the previous year. Included in the bill is $44.9 billion in additional emergency aid to Ukraine and NATO allies. This would be on top of the record $858 billion in military spending for the year, which is up from last year's $740 billion and also exceeds Biden's request. Democrats and Republicans alike had aimed to tuck as many legislative wish-list items as possible into the "omnibus" bill funding the government through the end of this fiscal year on Sept. 30, 2023, without derailing the whole package.

☆ Six dead, including suspect, after shooting in Canada's Vaughan
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

Dec 19 (Reuters) - Five victims and one suspect are dead following a shooting at a condominium in Canada's Vaughan city, just north of Toronto, the York Regional Police department said. Another victim is hospitalized in a serious condition, police said in a statement early on Monday. The suspect was shot after an interaction with police and pronounced deceased at the scene, according to the police. An investigation is active and ongoing, the police said in the statement, adding that there is no further threat to public safety. Reporting by Jahnavi Nidumolu and Juby Babu in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Multiple victims after shooting in Canada's Vaughan
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

Dec 18 (Reuters) - Multiple people were shot on Sunday at a condominium in Canada's Vaughan city, just north of Toronto, with five to seven possible victims, the York Regional Police department said. The victims have not yet been identified, the police said in an emailed statement to Reuters. One male suspect is deceased following an interaction with police, the police said in a tweet. Details on the motive were not immediately provided. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Goldman Sachs says U.S., Europe could end reliance on Chinese EV batteries by 2030 -FT
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - The United States and Europe could cut their dependence on China for electric vehicle batteries through more than $160 billion of new capital spending by 2030, the Financial Times reported on Monday, citing a Goldman Sachs forecast. Goldman forecast that the U.S. market share of the Korean battery makers would soar to about 55% in three years, from 11% in 2021, FT said. For now, China dominates battery production, including the mining and refining of raw materials. The analysts said this dominance could be unwound by protectionist policies in Europe and the United States, coupled with alternative battery chemistries that require fewer critical minerals from China, FT reported. Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Tom Hogue and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

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