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☆ Trump's Top 5 defenses in his massive NY financial fraud case, in his own words
▼ + stars: | 2023-09-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +17 min

AdvertisementAdvertisementHere are Trump's top five business fraud defenses – in his own words – as revealed in a recently-unsealed deposition transcript. New York attorney general's officeTrying to pass the blame won't work, two attorneys who used to work for previous New York attorneys general told Insider. And you're suing them instead of going after violent criminals," he scolded the attorney general and her lawyers. Then there's the $250 million Trump allegedly pocketed by lying about the size of his collateral. 3: his math is "worthless"At the center of the attorney general's case are a decade's worth of Trump's Statements of Financial Condition.

Persons: Trump, Donald Trump, Letitia James, James, Andrew S, Amer, Kevin C, Wallace, Brittainy Newman, Eric, I've, Mazars, We're, I'm, general's, Kenneth Foard McCallion, Tristan Snell, –, Susan Watts, they'd, Snell, McCallion, Donald Trump's, Laura Italiano, Kathy Willens, Jennifer S, Altman, Carlo Allegri, John Minchillo, Drew Angerer, George Washington, Jack Nicklaus, Tom Watson, He's Organizations: Trump Org, Service, York, New York State, New York, AP Trump, Trump Organization, New, Trump University, Trump, Deutsche Bank, NY Daily, Getty, Associated Press Deutsche Bank, McCallion, Associates, Washington, MSNBC, Reuters, U.S, Marriott Marquis Locations: NY, Wall, Silicon, Manhattan, New York, Trump's, Trump Tower, Manhattan , NY, . New York, Trump, New York City, Springs, Westchester County , New York, Mount Kisco, N.Y, Washington ,, Miami

☆ Europe's Gabon-exposed stocks slide after military coup
▼ + stars: | 2023-08-30 | by ( Danilo Masoni | ) www.reuters.com time to read: +2 min

MILAN, Aug 30 (Reuters) - Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. "Shares are reacting to concerns over the backdrop in Gabon," said Investec equity analyst Alex Smith in London. However, Assala Energy, which current owner Carlyle (CG.O) has agreed to sell to Maurel, said its oil production in Gabon was unaffected. "Note Gabon production represents around 20% of group production. Oslo-listed Panoro Energy (PENR.OL) and BW Energy (BWE.OL) were down 5% and 7%, respectively, and U.S.-based Vaalco Energy (EGY.N) fell 13.8%.

Persons: Maurel, Eramet, Alex Smith, Ali Bongo, Carlyle, Investec's Smith, Danilo Masoni, Alun John, Kirsten Donovan Organizations: MILAN, Military, REUTERS, Staff, Rights, Assala Energy, Energy, BW Energy, Vaalco Energy, Thomson Locations: Gabon, London, France, Frankfurt, Germany, Gabonese, Mouila, OPEC, Oslo, U.S, Gabon's

☆ Column: US offshore wind sector faces key test after weak Gulf auction
▼ + stars: | 2023-08-30 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsLITTLETON, Colorado, Aug 29 (Reuters) - The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden's green energy agenda, and the U.S. offshore wind sector in general. U.S. officials had touted the auction as a key milestone in Biden's agenda to make offshore wind a cornerstone of U.S. efforts to fight fossil-fuel-driven climate change. In addition to lower wind speeds and hurricane risks, potential wind farm developers in the Gulf waters must also accommodate relatively lower local power market prices than other parts of the United States, which greatly undermines wind power earning potential in the region. As offshore wind power systems are still in their relative infancy compared with other power sources, the average cost of power generated from offshore sites can be twice the cost of that from a gas-fired plant. Without a viable offshore wind sector, those industries may now struggle to secure the quantities of green hydrogen they may be anticipating in coming decades, and so could look for ways to support the wind sector's development in the years ahead.

Persons: Brian Snyder, Joe Biden's, Biden, hesitancy, Gavin Maguire, Matthew Lewis Organizations: U.S . Coast Guard, REUTERS, Offshore, U.S ., Gulf, Shell, Reuters, Thomson Locations: Rhode, LITTLETON , Colorado, Gulf, Mexico, U.S, Louisiana, Northeast, Texas, United States, U.S . East Coast , New York, New Jersey, Gulf Coast, Gulf of Mexico, Littleton , Colorado

☆ Megan Rapinoe to play in one last US national team match before retirement
▼ + stars: | 2023-08-30 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +2 min

CNN —US Women’s National Team (USWNT) star Megan Rapinoe, a two-time Women’s World Cup winner, will play one more international match before she retires from the game. With 63 career goals and 73 assists for the US women’s side, Rapinoe – an Olympic gold medalist from London 2012 – ranks in the top 10 for both categories in US women’s history. Following her final World Cup appearance this year in Australia and New Zealand, Rapinoe has returned to her National Women’s Soccer League (NWSL) team, the OL Reign, for the remainder of the season. Megan Rapinoe lifts the trophy as the US celebrates victory in the 2019 FIFA Women's World Cup. In her domestic career, she won the French league title and French Cup with Lyon in the 2012/13 season and has won three NWSL Shields with the Seattle Reign and OL Reign.

Persons: Megan Rapinoe, –, Rapinoe, Richard Heathcote, ” Rapinoe, “ It’s, ”, Carli Lloyd, Bill de Blasio, Jill Ellis, Jewel Samad, USWNT, Kate Markgraf, Féminin, Shields Organizations: CNN, US Women’s National, US Soccer, National Women’s Soccer League, US, FIFA, Getty, Lyon, Seattle Locations: South Africa, Chicago, London, Australia, New Zealand, New York City, New York, AFP

☆ Rapinoe to play final game for US on Sept. 24
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Rapinoe, 38, announced last month before the Women's World Cup that she would retire when the National Women's Soccer League (NWSL) season ends in November. She was one of three American players to miss her spot-kick when the U.S. were knocked out by Sweden on penalties in the last 16 stage of this year's World Cup in Australia and New Zealand. Rapnioe will end her international career with 203 caps and currently has 63 goals and 73 assists for the national team. She has also been an advocate for LGBT+ rights and equal pay in women's soccer. Rapinoe is scheduled to play her last NWSL regular-season game with OL Reign on Oct. 6 against Washington Spirit in Seattle.

Persons: Megan Rapinoe, Hannah Mckay, Rapinoe, It's, Hritika Sharma, Christopher Cushing Organizations: Soccer Football, FIFA, World, United, United States women's, South, U.S . Soccer Federation, USSF, National Women's Soccer League, Washington Spirit, Thomson Locations: New Zealand, Sweden, United States, Melbourne, Australia, U.S, South Africa, Chicago, Rapinoe, soccer, Seattle, Hyderabad

☆ See inside a hurricane hunter flight as Idalia became a Category 4
▼ + stars: | 2023-08-30 | by ( Victoria Kennedy | ) edition.cnn.com time to read: +8 min

He said the storm was intensifying so rapidly that it would have a ton of spin up tornadoes and rough turbulence. This was called the landfall flight – technically the last flight before the storm made landfall. Inside a WC-130J Super Hercules aircraft on a mission over Hurricane Idalia. From the moment we penetrate the storm, he’s focused on the radar, looking for those tornado signatures and rough turbulence. Pilot was ‘kind of new to this’On the flight deck, there are little bunk beds for the pilots.

Persons: Dorian, Victoria Kennedy, Zach McDermott, he’s, I’m, I’ve, biggie, “, ”, ‘, we’re, they’ve, Keesler, McDermott’s, He’s, “ Will Organizations: CNN, US Air Force Reserve, 130J, 53rd Weather Reconnaissance Squadron, Keesler Air Force Base, Hercules, Idalia, National Hurricane Center, Hurricane Idalia Locations: Bahamas, Biloxi , Mississippi, Florida’s Big Bend, Tampa, Bend, Gulf, Florida, Victoria

☆ First US offshore wind auction in Gulf of Mexico attracts paltry interest
▼ + stars: | 2023-08-29 | by ( Nichola Groom | ) www.reuters.com time to read: +4 min

RWE is among the world's largest offshore wind developers, with an extensive portfolio in Europe, and has also secured leases off the coasts of California and New York. The Southeast also has low power prices that could make it harder for higher-cost offshore wind generation to compete for electricity contracts. Texas does not have an offshore wind target. "Today's auction results show the important role state public policy plays in offshore wind market development," Liz Burdock, CEO of the Business Network for Offshore Wind, said in a statement. They included offshore wind development arms of European energy companies Equinor (EQNR.OL) and Shell (SHEL.L), who also have oil and gas operations in the Gulf.

Persons: Karen, Steve Nesius, Biden administration's, Germany's, RWE, Liz Burdock, Joe Biden's, ”, Elizabeth Klein, Nichola, Marguerita Choy, Nick Zieminski Organizations: REUTERS, ASA, Texas, U.S . Bureau of Ocean Energy Management, Carolinas, Business Network, Offshore, of Ocean Energy Management, Shell, . Developers, Thomson Locations: Dauphin Island , Alabama, Gulf of Mexico, Louisiana, New York, New Jersey, California, Europe, U.S, Gulf, Mexico, Texas, of Mexico

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

☆ In AI push, Telenor hires Google Cloud's Amol Phadke as CTO
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSummaryCompanies Telenor recruits Chief Tech Officer from Google CloudAmol Phadke to implement AI strategyTelecom sector's AI adoption is going slowly, Phadke saysAlso appoints Petter-Boerre Furberg as head of Asia unitOSLO, Aug 22 (Reuters) - Norwegian telecoms firm Telenor (TEL.OL) has recruited Google Cloud's Amol Phadke as its new Chief Technology Officer (CTO) to strengthen its AI activities, Telenor said on Tuesday. Phadke most recently headed Google Cloud's (GOOGL.O) telecom business and has previously worked for British Telecom, Alcatel-Lucent and Accenture's network services unit. He said he wanted Telenor "to use AI in all of our operations to make operations more efficient, develop new products, increase energy efficiency." Phadke said Telenor would use AI will to make business operations more efficient, for example to predict traffic demand and allocate more bandwidth to areas with more users, and to improve interactions with customers. "We do not believe that AI will directly result in job reductions," Phadke said, adding he envisaged using AI to augment and enhance, not substitute, humans in processes.

Persons: Dado Ruvic, Phadke, Petter, Boerre Furberg, Sigve Brekke, Brekke, Arentz, Rostrup, Furberg, Victoria Klesty, David Evans Organizations: Telenor, REUTERS, Google, Telecom, Technology, British Telecom, Alcatel, Lucent, Reuters, Telenor Nordics, Thomson Locations: Asia, OSLO, Norwegian, Myanmar, Bangladesh, Thailand, Malaysia, Southeast Asia

Zhang Yaoyu, PCI's global head of LNG trading, declined to comment on the company's traded volume, but said trading was part of the company's overall strategy. By 2026, Chinese companies are expected to have contracted LNG supplies of more than 100 million tons a year. That could mean a surplus of up to 8 million tons that year, according to consultancy Poten & Partners, or a deficit of 5 million to 6 million tons based on estimates from pricing agency ICIS. Qatar, which will be China's largest supplier for 2026, however, offers traditional LNG contracts that are restricted to a single destination or country. These openings in the market and a more liberalised domestic gas market have also prompted smaller Chinese gas distributors and importers to expand into the trading space.

Persons: Dado Ruvic, Toby Copson, Copson, it's, Zhang Yaoyu, Zhang, Jason Feer, Feer, Chen Aizhu, Emily Chow, Marwa Rashad, Yuka Obayashi, Tom Hogue Organizations: REUTERS, 2026 Companies, Shell, BP, International Energy Agency, Offshore Oil Corp, China Gas Holdings, HK, Qatar, Trident LNG, Sinochem, PetroChina International, Poten, Partners, Rystad Energy, Reuters Graphics Reuters, Reuters, PCI, U.S, Beijing Gas, Zhejiang Energy, JOVO Energy, Thomson Locations: Qatar, US, Europe, Asia SINGAPORE, London, Singapore, U.S, Oman, Canada, Mozambique, Shanghai, China, Japan, Beijing, Central Asia, Russia, Southeast Asia, South Korea, Ukraine, ENN, Tokyo

☆ How Hip-Hop Conquered the World
▼ + stars: | 2023-08-10 | by ( Wesley Morris | More About Wesley Morris | ) www.nytimes.com time to read: +2 min

“La di da di, we like to party” alongside “I never prayed to God, I prayed to Gotti.” Hip-hop arose from want. Hip-hop is Julia Roberts after being written off in “Pretty Woman” by that snooty sales lady: Big mistake. There’s almost nowhere hip-hop hasn’t been: the White House, the Pulitzers, the Oscars, the sitcom, the Louvre, syllabi, country radio, fashion week, Sesame Street. Even when its practitioners aren’t Black, maybe especially when they’re white, hip-hop incriminates the country that drove its people to dream it up in the first place. Hip-hop is what this country gets.

Persons: “, Gotti, ”, Julia Roberts, Gucci Mane, Bey, it’s, Eminem, Nicki Minaj, Kendrick Lamar, we’re Organizations: Black America, “, bohemians Locations: America

☆ Megan Rapinoe says it has been an ‘honor’ to play for the US as she bids goodbye to national team
▼ + stars: | 2023-08-10 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Megan Rapinoe said it has been an “honor” to play for the United States after making her fourth and final appearance at a Women’s World Cup. Before the tournament, the 38-year-old announced that this would be her final year as a professional soccer player and she now returns to her National Women’s Soccer League team, OL Reign, for the remainder of the season. Rapinoe (center) celebrates with teammates after facing Wales before the start of the World Cup. In 2022, she became the first soccer player to receive the Presidential Medal of Freedom. Speaking to Fox Sports after the defeat against Sweden, Rapinoe called it a “sick joke” and “dark comedy” that the US had dominated much of the game before being knocked out in cruel fashion on penalties.

Persons: Megan Rapinoe, ”, Rapinoe, ” Rapinoe, John Hefti, Féminin – Organizations: CNN, Sweden, National Women’s Soccer League, Instagram, Wales, USA, Network, Reuters, Fox Sports Locations: United States, ”

☆ For Megan Rapinoe, an Ending Not Even She Could Have Imagined
▼ + stars: | 2023-08-06 | by ( Jeré Longman | More About Jeré Longman | ) www.nytimes.com time to read: +1 min

It ended in the most excruciating way for Megan Rapinoe: a penalty kick skied over the crossbar, shock, disappointment, a rueful smile to herself. Rapinoe could not remember the last time she missed a penalty kick. It was her penalty kick that provided the decisive goal in the final of the 2019 World Cup. There is more soccer to play for Rapinoe, a National Women’s Soccer League championship to chase in Seattle with the OL Reign. The light of Rapinoe’s renowned and polarizing career as a player and activist has now gone into shadow on the World Cup stage, where she played her best and emphatically spoke her mind.

Persons: Megan Rapinoe, “ It’s, ” Rapinoe, Rapinoe Organizations: Sweden, Rapinoe, Women’s Soccer League Locations: United States, Melbourne, Australia, Seattle

☆ Megan Rapinoe's World Cup career comes to tearful end
▼ + stars: | 2023-08-06 | by ( Amy Tennery | ) www.reuters.com time to read: +4 min

Renowned for her reliability as a penalty taker, Rapinoe said missing one in the final moment of her career felt like "a sick joke". 'THE PLATFORM'Rapinoe plans to finish her club season with National Women's Soccer League side OL Reign before retiring and shows no signs of retreating from public life after a career spent championing social causes. Looking back at the 2019 tournament, Rapinoe saw her on-field achievements as being inextricably entwined with her advocacy. Without the winning, you don't get the media, you don't get the eyes, you don't get the fans." In 2022, she was awarded the Presidential Medal of Freedom, the highest United States' civilian honour, alongside gymnastics Olympic gold medallist Simone Biles.

Persons: Megan Rapinoe, Asanka Brendon Ratnayake, Rapinoe, I've, It's, Abby Wambach, Donald Trump's, Colin Kaepernick, Simone Biles, Amy Tennery, Ed Osmond Organizations: Soccer Football, FIFA, REUTERS, Swedes, Fox Sports, d'Or, U.S, National Women's Soccer League, Republican, Soccer, NFL, United States, Thomson Locations: New Zealand, Sweden, United States, Melbourne, Australia, Auckland, Brazil

That has drawn fury from climate protesters who have stepped up their campaigns, disrupting high-profile sporting events, classical music concerts and political speeches. loadingPictures posted online by Greenpeace UK on Thursday showed four protesters atop the property in Yorkshire, northern England, covering it in swathes of black fabric, while a banner read "RISHI SUNAK - OIL PROFITS OR OUR FUTURE?" Around two hours later at 11:00 BST (1000 GMT), four protesters were still on the roof with a sign saying "NO NEW OIL." Greenpeace said they were protesting the government's backing for new North Sea oil and gas licences and a proposed development of Equinor's (EQNR.OL) Rosebank oilfield, which is subject to a final investment decision. "We desperately need our prime minister to be a climate leader, not a climate arsonist," Greenpeace UK said.

Persons: Rishi Sunak, Rishi, Read, Sunak, YouGov, Vladimir, Putin, William James, Farouq Suleiman, Kate Holton, Giles Elgood Organizations: Greenpeace, British, Greenpeace UK, Wednesday . Police, Sunak's Conservative, Thomson Locations: Yorkshire, England, Britain, California, Ukraine, Sunak's

☆ Analysis: Tony Bennett sang in a key that Jason Aldean’s song can’t reach
▼ + stars: | 2023-07-30 | by ( John Blake | ) edition.cnn.com time to read: +13 min

White jazz artists were antiracists before the term was inventedMany of the tributes to Bennett mentioned his disdain for bigotry. Many White jazz artists were antiracists, long before the word was invented. Frank Sinatra, Bennett’s musical mentor, recorded with and relentlessly championed Black jazz artists like Ella Fitzgerald and Count Basie. He hired a Black jazz bassist, Eugene Wright, and refused to play in segregated venues. There are countless photos of a beaming Bennett hanging out with Black jazz artists.

Persons: Tony Bennett, Ed Sullivan’s, Bennett, ”, Duke Ellington, “, ’ ” Bennett, there’s, Jason Aldean, Aldean, Dick Gregory, Coretta Scott King, Rick Diamond, Bennett —, ” Bennett, Frank Sinatra, Bennett’s, Ella Fitzgerald, Count Basie, Sinatra, Nat King Cole, Dave Brubeck, Eugene Wright, Benny Goodman, Jim Crow, Ellington, Louis Armstrong, don’t, It’s, that’s, Lionel Hampton, Goodman, Michael Ochs, Amy Winehouse, Winehouse, fidgety, “ We’ll, “ You’re, ” Winehouse, Lady Gaga, John Mayer, Elvis Costello, Bennett’s unflappability, Bennett wasn’t, Brubeck, Miles Davis, Jimi Hendrix, Bill Evans, Mark Allan, Greg Thomas, ” Thomas, Carrie Underwood, Faith Hill, Willie Nelson, Billy Ray Cyrus, Lil Nas, Wynton Marsalis, Bennett –, Anthony Dominick Benedetto, –, Thomas, John Blake Organizations: CNN, Toronto Star, MLK, Atlanta Civic Center, US Army, Carnegie Hall, Michael Ochs Archives, Jazz, Studios Locations: New York, Tennessee, America, Atlanta, Nazi, African, British, Turkey, Japan, London, Aldean, American, Europe, United States

☆ Ex-Twitter safety exec slams Elon Musk's move to reinstate account that shared obscured image of child being tortured: 'This guy blew up my life by saying I condone pedophilia and then he turns around
▼ + stars: | 2023-07-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Yoel Roth slammed Elon Musk's decision to reinstate a user that posted a child torture image. Yoel Roth, Twitter's former head of trust and safety, took a dig at Elon Musk's decision to reinstate an account that had posted an obscured image of a toddler being tortured. "For now, we will delete those posts and reinstate the account," Musk wrote on X, after McGee's suspension brought backlash from his right-wing supporters and a number of "Free Dom" posts. Roth, the site's former head of trust and safety, wrote on BlueSky that he found Musk's decision to be confusing. But after resigning from the role two weeks into Musk's ownership, Roth changed his tune.

Persons: Yoel Roth, Elon, Musk, Twitter's, Roth, Twitter —, Dominick McGee, McGee, he'd, Peter Scully, Dom, Barack Obama — Organizations: Morning, Elon, Twitter, Washington Post Locations: Australian, Philippines, British

SummaryCompanies Q2 profits slump 56% at Shell, 49% at TotalEnergies y/yOil, gas, LNG prices much lower in 2023 vs 2022TotalEnergies sees LNG prices recover somewhat in winterShell slows pace of share buyback programmeLONDON/PARIS, July 27 (Reuters) - Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages eased amid global economic challenges. Reuters GraphicsShell's shares were down 1.9% at 0755 GMT and TotalEnergies' slipped 0.4%, compared with a 1% decline in the European index of oil and gas companies (.SXEP). Prices for liquefied natural gas (LNG), a key product for both groups, dropped to $11.75 per million British thermal units (mmBtu) from around $33. Both Shell and TotalEnergies had flagged shrinking profit from refining crude oil into fuel and chemicals in the quarter.

Persons: TotalEnergies, Shell, Wael Sawan, Patrick Pouyanne, Ron Bousso, Shadia, America Hernandez, Susan Fenton Organizations: Shell, Reuters Graphics, Brent, Thomson Locations: PARIS, Ukraine, TotalEnergies

The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged in the wake of Russia's invasion of Ukraine, but were in line with its second-quarter performance two years ago. In June, Shell announced it would buy back at least $5 billion in shares in the second half of the year. Shell shares were down 1.7% by 0730 GMT, compared with a 1% decline for the broader European energy index (.SXEP). Reuters GraphicsWEAKER QUARTERThe lower results mainly reflected lower liquefied natural gas (LNG) trading results, lower oil and gas prices, lower refining margins, and lower sales volumes, compared with the previous quarter, Shell said. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages have eased.

Persons: Shell, Wael Sawan, Sawan, Jefferies, Giacomo Romeo, TotalEnergies, Norway's, Ron Bousso, Christina Fincher, Jason Neely Organizations: Shell, Reuters Graphics, Benchmark Brent, Thomson Locations: Ukraine

Norwegian producer Norsk Hydro (NHY.OL) has called for the exchange to reconsider its decision last November to continue accepting deliveries of Russian metal. China imported 462,000 metric tons of Russian-brand primary aluminium last year, up from 291,000 metric tons in 2021. The country has emerged as the market of first resort for Russian metal since the invasion of Ukraine in February 2022. The top two destinations for June's "exports" were Japan (10,000 metric tons) and South Korea (20,500 metric tons). China's aluminium run-rate fell by an annualised 636,000 metric tons over the first quarter, according to the International Aluminium Institute.

Persons: Rusal, Goldman Sachs, ingot, isn't, Jane Merriman Organizations: London Metal Exchange, Norsk Hydro, Hydro, Rusal, International Aluminium Institute, AZ Global, Reuters, Thomson Locations: Norwegian, Russian, China, United States, Europe, Asia, Ukraine, Japan, South Korea, Gwangyang, CHINA, Yunnan

FRANKFURT/LONDON, July 26 (Reuters) - German industry is finding new ways to transport cargoes from coal to chemicals as increasingly frequent low water levels on the Rhine disrupt Europe's largest economy. At Kaub , the critical chokepoint for Rhine barges, water levels fell to their lowest this year earlier this week. ARTERY OF THE ECONOMYThe impact of low water levels is not limited to big business. But logistics firms are benefiting from rising demand for vessels adapted to lower river levels. "We expect, due to climate change, that the extremes on the river Rhine will happen more often," said Maickel Uijtewaal, general manager at Stolt-Nielsen (SNI.OL).

Persons: Uwe Arndt, Barbara Hoyer, majeure, Roberto Spranzi, Maickel Uijtewaal, Steffen Bauer, Christoph Steitz, Vera Eckert, Ludwig Burger, Patricia Weiss, Rene Wagner, Nette, Tom Kaeckenhoff, Matthias Inverardi, Vincent Flasseur, Barbara Lewis Organizations: Federal Waterways, Shipping Agency, Reuters Graphics, Cologne, BASF, Reuters Graphics Reuters, Kiel Institute, Deutsche Bank, Reuters, Stolt, Nielsen, HGK Shipping, Daniels, Midland Co, Chemicals, Thomson Locations: FRANKFURT, LONDON, Kaub, Europe, Reuters Graphics Germany, Ludwigshafen, HGK, Frankfurt, Berlin, Duesseldorf, London

☆ AutoStore and Ocado reach deal to settle patent litigation claims
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +1 min

July 22 (Reuters) - Norwegian robotics firm AutoStore will pay 200 million pounds ($257.1 million) to British online supermarket group Ocado as part of a deal between the warehouse tech pioneers to settle all outstanding patent litigation claims, they said on Saturday. Under the deal announced in a statement on Saturday, all the patent litigation claims will be withdrawn globally and both firms can continue to use and market all their own existing products without challenge. AutoStore will pay the 200 million pounds to Ocado in instalments over a two-year period, according to the statement. The agreement does not allow for collaboration, technology support between the companies, or access to actual products, the statement said. ($1 = 0.7779 pounds)Reporting by Anirudh Saligrama in Bengaluru Editing by Jason Neely and Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: AutoStore, Anirudh, Jason Neely, Helen Popper Our Organizations: Thomson Locations: Norwegian, Bengaluru

While there are no international sanctions on Russian metal, many consumers are shunning aluminium produced by Rusal (RUAL.MM), which accounts for 6% of global supplies. U.S. import tariffs on Russian aluminium and products are also prompting some consumers to "self-sanction". Some analysts estimate the discount for Russian aluminium at $100-$300 per metric ton, Norsk Hydro said. As LME aluminium prices are referenced in contracts between consumers, producers and traders, the dominance of Russian aluminium in the system is a problem, said Norsk Hydro's Chief Financial Officer Paal Kildemo. "There is still a risk that even more Russian aluminium will be delivered to LME further weighing on the reference price...

Persons: Paal Kildemo, Kildemo, Rusal, Pratima Desai, Polina Devitt, Eric Onstad, Veronica Brown, Jason Neely Organizations: London Metal Exchange, Norsk Hydro, Reuters, Britain's Financial, Authority, Norsk, Shanghai Futures Exchange, CME, Hydro, FCA, Thomson Locations: Norwegian

☆ Danske Bank hikes guidance, resumes dividends
▼ + stars: | 2023-07-21 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

COPENHAGEN, July 21 (Reuters) - Danske Bank (DANSKE.CO) on Friday raised its full-year profit guidance and said it would resume paying dividends to its shareholders after posting forecast-beating earnings in the second quarter. Denmark's largest lender now expects net profit for 2023 to land in the range of 18.5 billion to 20.5 billion Danish crowns ($2.77 billion-$3.06 billion), up from an earlier estimate of between 16.5 billion and 18.5 billion crowns. Danske's net profit for the April-June quarter rose to 5 billion Danish crowns from 1.7 billion a year earlier, above analysts' expectations in a company-compiled poll of around 4.6 billion crowns. The better-than-expected results mirror those of rival Nordic banks Nordea (NDAFI.HE), SEB, DNB (DNB.OL) and Swedbank (SWEDa.ST), which beat analysts expectations when they published second-quarter results earlier this week. "The losses are lower than expected, and 1.5 billion crowns in loan loss provisions for the whole year acts as a built-in buffer for a further positive guidance change," Nordnet analyst Per Hansen said in a note.

Persons: Carsten Egeriis, Egeriis, SEB, Per Hansen, Nikolaj Skydsgaard, Tom Hogue Organizations: Danske Bank, Thomson Locations: COPENHAGEN, U.S, Denmark

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