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☆ One year of war in Europe: How the dollar, energy and food prices swirled
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +6 min

LONDON, Feb 24 (Reuters) - Russia's invasion of Ukraine has disrupted economies and markets around the world, from energy and food prices to European banks, emerging market stocks and the Russian currency. Below are five charts that show how Europe's biggest conflict since World War Two has shaped global financial markets in the last 12 months. But when Russian tanks rolled into Ukraine in late February, European natural gas prices rocketed by almost 400% in two weeks. Energy prices soared, bringing the threat of blackouts, recession and a worrying switch back to dirtier sources of fuel. Food price pressures are easing, but that does little to soften the blow for many developing nations, where food and energy prices make up a larger share of spending.

☆ 8 reasons why you need an EIN for your business and how to apply for one
▼ + stars: | 2023-02-22 | by ( Lee Huffman | Elizabeth Gravier | ) www.cnbc.com time to read: +11 min

Below, CNBC Select explains how to apply for an EIN for your business and eight reasons why you need one. An Employer Identification Number (EIN) is a federal identification number for your business. These are a few of the most common reasons why you need to apply for an EIN. You cannot open a business bank account for most forms of business without an EIN.. You cannot open a business bank account for most forms of business without an EIN. Best small business resourcesOnce you have your EIN, it will be easier to separate personal and business expenses and take advantage of various small business resources, such as business credit cards, business checking accounts, business savings accounts, business loans and business expense trackers.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Carvana, Nvidia, Netflix, Zoom, Meta & more
▼ + stars: | 2023-02-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America downgrades Constellation Energy to neutral from buy Bank of America downgraded the energy company mainly on valuation. " Raymond James reiterates Carvana as market perform Raymond James said it's cautious heading into Carvana earnings later this week. Bank of America reiterates Meta as buy Bank of America said it's bullish on the company's recently announced Meta Verified subscription service. " Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating despite the ChatGPT thread to Alphabet. Barclays reiterates Zoom as equal weight Barclays said expectations are low heading into Zoom earnings later this month.

The debate - which focuses on hydrogen produced from nuclear or renewable energy - has already delayed negotiations on new EU renewable energy targets and threatened a multi-billion-euro hydrogen pipeline. Some EU officials fear it could spill into other green energy policies, potentially delaying laws needed to meet EU climate targets. "There are outstanding obstacles, but they will be resolved," EU foreign policy chief Josep Borrell said of the climate conclusions on Monday, without specifying what the obstacles were. A draft of the conclusions, seen by Reuters, said: "EU energy diplomacy will promote the increasing uptake and system integration of renewable energy, hydrogen and its derivatives." They says they acknowledge nuclear's low-carbon contribution, but that it should not be put on a level footing with renewable energy sources like wind and solar.

In an exclusive interview with NBC News' Andrea Mitchell, Vice President Kamala Harris said she fully expects President Biden to run for re-election and said she intends to be his running mate again. Asked about Democrats who fret behind the scenes about both Biden and Harris being on the ticket, the vice president responded: "Joe Biden ... has said he intends to run for re-election as president and I intend to run with him as vice president of the United States." In the interview, conducted at the international Munich Security Conference in Germany, Harris was asked about comments made by former U.N. "In Joe Biden, we have a president who is probably one of the boldest and strongest American presidents we have had in his response to the needs of the American people," Harris continued. Ron DeSantis, R-Fla., who is widely expected to run for president in 2024.

"The amount of energy BEVs need is so enormous that I see a strain on our grid that ultimately it can't fulfill." Daimler Truck will invest up to 15 billion euros ($16 billion) on fuel cells over the next decade, Daum said. Symbio, which supplies fuel cells for Stellantis vans, expects global fuel cell vehicle sales to reach 2 million units annually by 2030 and wants a 10% share. Both General Motors (GM) (GM.N) and Toyota (7203.T) are testing fuel cells for larger vehicles including semi-trucks and trains to build scale and lower costs. While Volkswagen is not currently investing in fuel cells, it has hundreds of patents around the technology.

☆ PepsiCo says no more price hikes after better-than-expected quarterly results
▼ + stars: | 2023-02-09 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

PepsiCo is in a "real sweet spot" in terms of consumers since they have enough money to buy themselves affordable treats, Johnston said. PepsiCo's North America beverages unit, which houses brands such as Mirinda and 7UP, posted an organic revenue growth of 10% in the fourth quarter. Average prices jumped 16% in the quarter, while organic volume slipped 2%. On an adjusted basis, PepsiCo earned $1.67 per share in the fourth quarter, beating estimates of $1.65, according to Refinitiv data. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Mali says Russia's Lavrov to visit to strengthen defence ties
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

BAMAKO, Feb 5 (Reuters) - Russian Foreign Minister Sergei Lavrov will pay a two-day visit to Mali this week, the Malian foreign ministry said on Sunday, describing the visit as a reflection of a shared wish to strengthen defence and security ties. "This high-level visit is in line with the political choice made by the Transitional Government to expand and diversify strategic partnerships," the Malian ministry said in a statement. Last year, Russian President Vladimir Putin told Mali that Moscow was committed to strengthening cooperation to help root out the militants. Mali has previously said Russian forces in the country are not mercenaries but trainers helping local troops with equipment bought from Russia. Lavrov is currently in Baghdad for talks on improving bilateral ties and energy cooperation.

☆ Mexico in talks with top carmakers to make electric vehicles, foreign minister says
▼ + stars: | 2023-02-03 | by ( Stefanie Eschenbacher | ) www.reuters.com time to read: +3 min

MEXICO CITY, Feb 3 (Reuters) - Mexico is gearing up to build several manufacturing hubs for electric vehicles across the country, Foreign Minister Marcelo Ebrard told Reuters, and is in talks with some of the world's top carmakers. Ebrard said in an interview late on Thursday that Mexico was keen to capitalize on the global shift to electric vehicles. "What they are more concerned about is having a guaranteed supply of clean energy, having water, having the personnel they need, facilitate electric power transmission lines," he said. Harald Gottsche, head of the BMW plant in the state of San Luis Potosi, which will produce fully electric cars, said Mexico also needs to push the consumer shift to electric vehicles. In addition to electric vehicles, Ebrard said he was also keen to attract more semiconductor and battery businesses - and build out transport infrastructure in the port of Coatzacoalcos, in the Gulf of Mexico.

☆ Nikki Haley Plans to Enter Race for 2024 Republican Presidential Nomination
▼ + stars: | 2023-02-01 | by ( John Mccormick | ) www.wsj.com time to read: +1 min

Nikki Haley , a former South Carolina governor and U.S. ambassador to the United Nations, intends to launch a White House bid Feb. 15, according to a person familiar with her plans, challenging former President Donald Trump for the 2024 Republican presidential nomination. Kristi Noem of South Dakota is the only other woman known to be contemplating a 2024 GOP presidential bid. Vice President Kamala Harris became the first woman to hold the No. A number of other Republicans are also believed to be contemplating entering the race, including former New Jersey Gov. Asa Hutchinson , former Vice President Mike Pence, former Secretary of State Mike Pompeo , South Carolina Sen. Tim Scott and Virginia Gov.

☆ Stocks firm, dollar on edge ahead of Fed decision
▼ + stars: | 2023-02-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Fed will announce its rate decision at 1900 GMT, followed by a news conference with Chair Jerome Powell half an hour later. Currency trade has been in a holding pattern ahead of the Fed and Bank of England and European Central Bank meetings that follow on Thursday. But the U.S. wages data wiped out some small dollar gains made earlier this week amid some nerves that the Fed sticks to its hawkish stance. United Parcel Service (UPS.N), the world's biggest package delivery firm, beat forecasts and shares rose 4.7%. Prices for dollar bonds in Adani Group companies were steadying in Asia trade on Wednesday after last week's rout.

☆ One year after volcanic blast, many of Tonga's reefs lay silent
▼ + stars: | 2023-01-15 | by ( Gloria Dickie | ) www.reuters.com time to read: +5 min

Coral reefs were turned to rubble and many fish perished or migrated away. Following the eruption, the Tongan government said it would seek $240 million for recovery, including improving food security. SILENT REEFSThe vast majority of Tongan territory is ocean, with its exclusive economic zone extending across nearly 700,000 square kilometres (270,271 square miles) of water. It is likely volcanic ash smothered many reefs, depriving fish of feeding areas and spawning beds. While volcanic eruptions on land eject mostly ash and sulfur dioxide, underwater volcanos jettison far more water.

WASHINGTON — House Speaker Kevin McCarthy said Wednesday that embattled freshman GOP Rep. George Santos, who is facing growing calls to resign after admitting to fabricating much of his personal biography, should not be seated on any top committees. "No," McCarthy said emphatically as he headed into a GOP Steering Committee meeting where members are deciding which colleagues should serve on certain committees. Lawmakers of both political stripes argue that seating Santos on committees could be a national security risk. Democrats say that McCarthy and the leadership team shouldn't seat Santos on any committees, while some Republicans agree with McCarthy: Keep Santos off the panels that handle the most sensitive, classified information. Dusty Johnson of South Dakota, the head of the Main Street Caucus, said Santos shouldn't serve on any committees.

☆ Analysis: Some ocean shipping rates collapsing, but real price relief is months away
▼ + stars: | 2023-01-09 | by ( Lisa Baertlein | ) www.reuters.com time to read: +4 min

They're not interested in playing the (spot) market" by shopping for lower rates, shipping expert John McCown said. The chief executive of container shipping company Ocean Network Express, Jeremy Nixon, said in December that short-term spot rates were "bottoming out." Meanwhile, long-term contract rates finished 2022 about 20% lower than the pandemic peak of more than $8,000 per container, according to maritime consultancy Drewry, which expects contract rates to halve in 2023. Several factors could support longer-term contract rates, including upheaval from China's COVID outbreak, war in Ukraine, and high labor costs. Steve Schult, vice president for almond farming cooperative Blue Diamond Growers, bets contract rates will not revisit pre-COVID levels.

"Right now the war in Ukraine is at a critical point," U.S. President Joe Biden told reporters. Germany would provide Marder Infantry Fighting Vehicles, according to a joint statement on Thursday from Biden and Chancellor Olaf Scholz. TRUCE PROPOSALUkrainian President Volodymyr Zelenskiy rejected out of hand a Russian order for a truce over Orthodox Christmas starting at noon on Friday and ending at midnight on Saturday. The heaviest fighting of the war continues in eastern Ukraine, with the worst of it near the eastern city of Bakhmut. Ukraine says Russia has lost thousands of troops despite seizing scant ground in months of futile waves of assaults on Bakhmut.

REUTERS/Lucas JacksonNEW YORK, Jan 4 (Reuters) - Goldman Sachs Group Inc's (GS.N) top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market. The projections come after global M&A values slumped 36% to $3.78 trillion in 2022, from a record $5.91 trillion in 2021, according to Dealogic data. "I remain quite bullish, maybe not on the first quarter, but certainly as we go forward," said Stephan Feldgoise, global co-head of M&A. The company has been the top global M&A adviser by revenue for the past 20 years, followed by JPMorgan Chase & Co (JPM.N), according to Dealogic data. The bank sees opportunities in advising clients who are being targeted by activist investors, or fintech companies open to suitors after their valuations plunged, said Russ Hutchinson, the bank's chief operating officer of global M&A.

☆ Palestinians welcome U.N. vote on Israel's occupation as 'a victory'
▼ + stars: | 2022-12-31 | by ( Ali Sawafta | ) www.reuters.com time to read: +2 min

RAMALLAH, West Bank, Dec 31 (Reuters) - The Palestinians on Saturday welcomed a vote by the United Nations General Assembly requesting that the International Court of Justice (ICJ) provide an opinion on the legal consequences of Israel's occupation of the Palestinian territories. Israel captured the West Bank, Gaza and East Jerusalem - areas the Palestinians want for a state - in a 1967 war. Senior Palestinian official Hussein al-Sheikh said on Twitter that the vote "reflects the victory of Palestinian diplomacy." The Palestinians have limited rule in the West Bank and East Jerusalem was annexed by Israel in a move not recognized internationally. The new Israeli government has pledged to strengthen its settlements in the West Bank but Netanyahu has given no indication of any imminent steps toward annexing them.

☆ U.N. asks World Court to give opinion on Israel's occupation
▼ + stars: | 2022-12-30 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

REUTERS/Ammar AwadUNITED NATIONS, Dec 30 (Reuters) - The 193-member United Nations General Assembly on Friday asked the International Court of Justice (ICJ) to give an opinion on the legal consequences of Israel's occupation of the Palestinian territories. Israel captured the West Bank, Gaza and East Jerusalem - areas the Palestinians want for a state - in a 1967 war. The Hague-based ICJ, also known as the World Court, is the top U.N. court dealing with disputes between states. The request for a court opinion on Israel's occupation of the Palestinian territories was made in a resolution adopted by the General Assembly with 87 votes in favor. Any decision from a judicial body which receives its mandate from the morally bankrupt and politicized U.N. is completely illegitimate," Israel's U.N.

A total of 50 rockets fell in the Kherson region, including on military targets. Dimitar Dilkoff / AFP - Getty ImagesThe Kremlin dismissed Ukrainian President Volodymyr Zelenskyy’s 10-point so-called peace plan, saying proposals to end the conflict must take into account what it claims are “today’s realities” of four Ukrainian regions having joined Russia. In September Russia annexed the four regions of Ukraine after the occupied areas held sham votes, which were denounced by Kyiv and the West. We are entering the next year and must retain a common understanding of our national goals,” the statement read. Otherwise, the issue will be decided by the Russian army.”Zelenskyy has said his country will never relinquish land.

☆ U.N. halts some programs in Afghanistan after ban on women aid workers
▼ + stars: | 2022-12-28 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

UNITED NATIONS, Dec 28 (Reuters) - The United Nations said on Wednesday that some "time-critical" programs in Afghanistan have temporarily stopped and warned many other activities will also likely need to be paused because of a ban by the Taliban-led administration on women aid workers. "Banning women from humanitarian work has immediate life-threatening consequences for all Afghans. But we foresee that many activities will need to be paused as we cannot deliver principled humanitarian assistance without female aid workers." The ban on female aid workers was announced by the Islamist Taliban-led administration on Saturday. Four major global groups, whose humanitarian aid has reached millions of Afghans, said on Sunday that they were suspending operations because they were unable to run their programs without female staff.

Russian airlines continue to operate many of the jets, but some have struggled to secure replacement parts. AerCap (AER.N), SMBC Aviation Capital and Avolon, the world's largest lessors, declined to comment on whether they were involved in talks on payment for jets from Russian airlines or their insurers. RUSSIAN STATE FUNDSRussian state backing for the talks was demonstrated in an Aug. 30 letter from its Transport Ministry to 23 airlines. That was "considerably less than the aggregate Agreed Values" for the aircraft, SMBC said in the letter. But one Western finance official said any deal would face major legal and diplomatic hurdles and talks may be premature.

The Kunming-Montreal Global Biodiversity Framework, reflecting the joint leadership of China and Canada, is the culmination of four years of work toward creating an agreement to guide global conservation efforts through 2030. A Congolese representative argued that developed nations should provide more resources to nature conservation efforts in developing countries. [1/6] The leadership of the U.N.-backed COP15 biodiversity conference applaud after passing the The Kunming-Montreal Global Biodiversity Framework in Montreal, Quebec, Canada December 19, 2022. Developed countries will provide $25 billion in annual funding starting in 2025 and $30 billion per year by 2030. The agreement, which contains 23 targets in total, replaces the 2010 Aichi Biodiversity Targets that were intended to guide conservation through 2020.

☆ U.S. accuses U.N. of yielding to Russian threats over Iran drone inquiry
▼ + stars: | 2022-12-19 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

Iran has acknowledged it had supplied Moscow with drones, but said they were sent before Russia invaded its neighbor in February. Britain, France, Germany, the United States and Ukraine say the supply of Iranian-made drones to Russia violates a 2015 U.N. Security Council resolution enshrining the Iran nuclear deal. Ambassador Robert Wood told a Security Council meeting on Monday on the 2015 Iran nuclear deal resolution. "We are disappointed that the Secretariat, apparently yielding to Russian threats, has not carried out the investigatory mandate this council has given it," Wood said. Iran's U.N. ambassador, Amir Saeid Iravani, said Iran has not transferred to Russia any items prohibited by the Security Council.

☆ French financial prosecutor confirms GE's Belfort site searched
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

PARIS, Dec 16 (Reuters) - Searches were conducted on Thursday at U.S conglomerate General Electric's (GE.N) Belfort site in France as part of an ongoing probe into possible tax fraud, France's financial prosecutor said on Friday, confirming an AFP report. In an email responding to a Reuters request, deputy financial prosecutor Antoine Jocteur-Monrozier said the searches were part of a preliminary probe into alleged money laundering and tax fraud. Unions accused management of trying to show the site was losing money in order to justify the job cuts at the site – depriving the French government of millions of euros in tax revenue in the process. GE has denied the claims, saying it obeys the tax laws in every country where it operates. ($1 = 0.9406 euros)Reporting by Sudip Kar-Gupta and Silvia Aloisi; editing by Jason Neely and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Sri Lanka expects up to $8 bln more in loans, asset restructuring
▼ + stars: | 2022-12-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

[1/2] Sri Lanka's Foreign Minister Ali Sabry speaks during an interview with Reuters at his office, in Colombo, Sri Lanka December 14, 2022. Sabry said Sri Lanka was still waiting for "letters of assurance" for debt restructuring from its largest bilateral creditor China, as well as India. The two countries have backed the restructuring efforts and Sri Lanka has shared documents and data with them, he said. Overall, Sri Lanka's economy has improved with essential imports such as fuel and food becoming regular, Sabry said. "So that should start in the next quarter of next year with the IMF loan coming in, other multilateral agencies coming in.

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