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☆ Vale Canada, Sumitomo Metal sign initial deal to sell 14% stake in Indonesian nickel miner
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsJAKARTA, Nov 17 (Reuters) - Mining company Vale Base Metals said its unit Vale Canada Ltd and Japan's Sumitomo Metal Mining Co. Ltd signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which is currently due to end in 2025. Upon completion, MIND ID will become the largest shareholder of Vale Indonesia with 34% of shares, up from 20%. Around 20% of Vale Indonesia's shares are publicly traded. Vale Base Metals is committing around $10 billion of investment in Indonesia over the next decade.

Persons: Ritsuko Shimizu, Deshnee Naidoo, Fransiska Nangoy, Kirsten Donovan Organizations: Sumitomo Metal Mining, REUTERS, Rights, Base Metals, Vale Canada, Japan's Sumitomo Metal Mining Co . Ltd, Vale, Sumitomo, Mineral Industri, Vale Base Metals, Thomson Locations: Tokyo, Japan, Rights JAKARTA, Vale Canada, Mineral Industri Indonesia, Indonesia, Vale Indonesia, Indonesian

"Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. "The world's richest countries need to work with the multilateral development banks to find effective, structural ways to channel significantly scaled up energy transition finance," he said. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, COP27, REK, Renaud, Leo Roberts, E3G, Kate Abnett, Kirsten Donovan, Louise Heavens Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Climate Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Pakistan, Colombia, Ukraine

[1/2] A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Cooler-than-expected U.S. inflation data on Tuesday and Wednesday reset market expectations for how soon the Federal Reserve will cut rates and weighed on the dollar. The greenback is poised for its biggest weekly drop since July, down 1.6% over the past five days, and second-biggest decline this year. Data that showed U.S. single-family homebuilding increased marginally in October briefly supported the dollar, but with inflation the main market driver it remained lower on the day. The euro was up 0.17% at $1.0868 after Eurostat data confirmed year-on-year inflation in the euro zone slowed sharply in October.

Persons: Marcos Brindicci, Bipan Rai, Thierry Wizman, Wizman, Lee Hardman, Robert Holzmann, Joachim Nagel, Christine Lagarde, Herbert Lash, Iain Withers, Rae Wee, Tom Westbrook, Mark Potter, Kirsten Donovan Organizations: REUTERS, Federal Reserve, CIBC Capital Markets, FX, Eurostat, European Central Bank, Thomson Locations: Buenos Aires, Argentina, North America, Toronto, United States, Macquarie, New York, Britain, London, Singapore

The deal, which is expected to be announced at the COP28 climate talks in Dubai beginning on Nov. 30, will lay out a plan to close the country's two coal power plants and replace them with 1.7 gigawatts of renewable energy. "Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, REK, Renaud, Kate Abnett, Kirsten Donovan Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Ukraine

☆ ECB hawks push back on early rate cut bets
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +3 min

"It would be unwise to start cutting interest rates too soon," Bundesbank President Joachim Nagel said in a speech. Austria's Robert Holzmann was even more explicit, arguing that the second quarter was simply too soon for a rate cut. Asked if he ruled out an interest rate cut in the second quarter of next year, he said: "That would be a bit early." The ECB held rates unchanged in October, snapping a streak to ten straight rate hikes, fuelling market bets that its record-breaking tightening streak is now over and the next move is a cut. Instead of easing policy, the ECB should tighten further, Wunsch argued, by ending early its bond purchases in the 1.7 trillion euro Pandemic Emergency Purchase Programme.

Persons: Joachim Nagel, Ann Saphir, Robert Holzmann, Holzmann, Pierre Wunsch, Wunsch, Nagel, Balazs Koranyi, Francois Murphy, Kirsten Donovan, Andrew Heavens Organizations: European Central Bank policymaker, Kansas City Fed, REUTERS, European Central Bank, ECB, Thomson Locations: Jackson, Jackson Hole , Wyoming, FRANKFURT, VIENNA, Belgian

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsROME, Nov 15 (Reuters) - Italy's Leonardo (LDOF.MI) is trimming its stake in U.S. unit DRS (DRS.O) as new CEO Roberto Cingolani looks to expand the state-controlled group with major roles in European defence projects. Two sources at Leonardo confirmed that the DRS deal was part of that strategy. Cingolani, a former government minister who became CEO in May, has embraced the need to create broader European alliances to take advantage of rising defence budgets. It has pointed to its cross-border MBDA European missile company joint venture with Airbus (AIR.PA) and BAE Systems (BAES.L) as a model for the projects. Some analysts expressed surprise that the company was reducing its stake in DRS, acquired 15 years ago in a $5.2 billion deal when the Italian group was known as Finmeccanica.

Persons: Leonardo, Dado Ruvic, Roberto Cingolani, Cingolani, Intesa Sanpaolo, Leonardo's, Nick Cunningham, Giulia Segreti, Armellini, Kirsten Donovan Organizations: REUTERS, Rights, DRS, Global Combat Air, Leopard, Airbus, BAE Systems, Agency Partners, Thomson Locations: U.S, East, Europe, Italy, Britain, Japan, Leonardo's Milan, Italian, Rome

☆ NBA roundup: Down 2 starters, Celtics still top 76ers
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +5 min

Derrick White added 27 points and Jrue Holiday contributed 18 points and 10 rebounds for the Celtics, who have won four games in a row. De'Aaron Fox scored 28 points and Kevin Huerter matched his season high with 28 points while making six 3-pointers for the Kings in the opener of a six-game road swing. D'Angelo Russell added 28 points. Bogdan Bogdanovic led the Hawks with a season-high 28 points. Max Strus registered 14 points and seven assists and Jarrett Allen had 11 points, nine rebounds and three blocked shots for the Cavaliers.

Persons: Jayson Tatum, Tobias Harris, Bill Streicher, Derrick White, Jrue Holiday, Jaylen Brown, Kristaps, Joel Embiid, Tyrese Maxey, Robert Covington, De'Anthony Melton, Devin Booker, Kevin Durant, Booker, Eric Gordon, Grayson Allen, Drew Eubanks, Josh Okogie, Karl, Anthony Towns, Mike Conley, Anthony Edwards, Jaden McDaniels, Naz Reid, Rudy Gobert, Tim Hardaway Jr, Luka Doncic, Hardaway, Doncic, Irving, Damian Lillard, Malik Beasley, Giannis Antetokounmpo, Scottie Barnes, Jakob Poeltl, Domantas Sabonis, De'Aaron Fox, Kevin Huerter, LeBron James, D'Angelo Russell, Julius Randle, Jalen Brunson, Immanuel Quickley, Bogdan Bogdanovic, Jalen Johnson, Paolo Banchero, Bitadze, Orlando, Zach LaVine, Anthony Black, Donovan Mitchell, Evan Mobley, Caris LeVert, Max Strus, Jarrett Allen Organizations: Boston Celtics, Philadelphia 76ers, Wells, Wells Fargo Center, Celtics, Sixers, Suns, Timberwolves, Phoenix, Wolves, Mavericks, Wizards, Washington, Bucks, Raptors, Milwaukee, Toronto, Lakers, Sacramento, Knicks, Hawks, New York Knicks, Atlanta, Bulls, Orlando, Chicago, Cavaliers, Trail Blazers, Blazers, Cleveland, Thomson Locations: Philadelphia , Pennsylvania, USA, Wells Fargo, Minnesota, Dallas, Los Angeles, Chicago, Orlando, Cleveland, Portland

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Britain's Ocado secures first deal beyond grocery retail
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. It also holds a 50% share of Ocado Retail in the UK in a joint venture with Marks & Spencer (MKS.L). The deal with McKesson will see Ocado receive upfront fees during the construction process with the final payment upon final installation. Ocado said the impact of the deal will be minimal on cash flow and earnings in its current financial year. In July, the group reported a return to first half underlying profit.

Persons: Toby Melville, Canada Ocado, McKesson, Tim Steiner, we're, Spencer, Ocado, James Davey, Prerna Bedi, Shilpi Majumdar, Kirsten Donovan, Barbara Lewis Organizations: REUTERS, Kroger, Casino, Marks, Times, Thomson Locations: London, Britain, Canada, Ocado, United States, Japan, France, U.S, Bengaluru

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Adobe Inc FollowBRUSSELS, Nov 15 (Reuters) - Photoshop maker Adobe (ADBE.O) expects to get an EU antitrust warning on its $20 billion bid for cloud-based designer platform Figma and is open to proposing remedies to resolve regulatory concerns, its chief counsel told Reuters on Wednesday. The Adobe deal comes amid heightened regulatory scrutiny around the world on Big Tech acquisitions which boost dominant companies' market power or those involving start-ups seen as nascent rivals. "We are expecting a statement of objections from the European Commission," Dana Rao said in an interview, confirming a Reuters story on Tuesday. "We are certainly open to the discussion of remedies.

Persons: Dado Ruvic, Dana Rao, Rao, Foo Yun Chee, Kirsten Donovan Organizations: REUTERS, Inc, Adobe, Big Tech, European Commission, Thomson Locations: EU

☆ African online retailer Jumia's Q3 losses narrow with further fall expected
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.

Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG

The total of $26,000 that WHO has provided to the victims equals about 1% of the $2 million, WHO-created “survivor assistance fund” for victims of sexual misconduct, primarily in Congo. “There is nothing we can do to make up for (sexual abuse and exploitation)," Gamhewage told the AP in an interview. The WHO has also helped defray medical costs for 17 children born as a result of sexual exploitation and abuse, she said. Gamhewage received $231 a day during her three-day trip to the Congolese capital Kinshasa, according to an internal travel claim. The U.N. health agency continues to struggle with holding perpetrators of sexual abuse and exploitation to account in Congo.

Persons: Gamhewage, didn't, Paula Donovan, “, ”, Donovan, ” Gamhewage, Alphonsine, ” Alphonsine, Melinda Gates, Denise, Krista Larson, Jamey Keaten Organizations: Health, WHO, The Associated Press, AP, Melinda Gates Foundation Locations: Congo, Gaya, Congolese, —, Beni, Kinshasa, Dakar, Senegal, Geneva

☆ The Fed has overtightened, says UBS Global Wealth Management's Paul Donovan
▼ + stars: | 2023-11-14 | 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 EmailThe Fed has overtightened, says UBS Global Wealth Management's Paul DonovanPaul Donovan, chief economist at UBS Global Wealth Management and CNBC's Steve Liesman join 'The Exchange' to discuss the latest CPI report, the outlook for rate hikes, and more.

Persons: UBS Global Wealth Management's Paul Donovan Paul Donovan, Steve Liesman Organizations: UBS Global Wealth, UBS Global Wealth Management

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

☆ NBA roundup: Pascal Siakam's late shot pushes Raptors past Wizards
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

[1/4] Nov 13, 2023; Toronto, Ontario, CAN; Toronto Raptors forward Pascal Siakam (43) scores against the Washington Wizards during the third quarter at Scotiabank Arena. Scottie Barnes added 19 points and nine rebounds for Toronto, Jakob Poeltl scored 13 points and Precious Achiuwa had 10. The Wizards led by as many as 23 points early in the third quarter. Khris Middleton added 13 points while Damian Lillard scored 12 despite shooting 3-for-17 from the fieldNikola Vucevic led the way for the Bulls with 26 points, 12 rebounds and five assists. Evan Mobley added 16 points and 12 rebounds for Cleveland, which has alternated losses and wins for seven games.

Persons: Pascal Siakam, Nick Turchiaro, Siakam, Scottie Barnes, Jakob Poeltl, Precious Achiuwa, Kyle Kuzma, Daniel Gafford, Jordan Poole, Jayson Tatum, Tatum, Jalen Brunson, Julius Randle, Josh Hart, Quentin Grimes, Giannis Antetokounmpo, Bobby Portis, Khris Middleton, Damian Lillard, Nikola Vucevic, Zach LaVine, DeMar DeRozan, Domantas Sabonis, Fox, Sabonis, Keegan Murray, Kevin Huerter, Donovan Mitchell, Evan Mobley Organizations: CAN, Toronto Raptors, Washington Wizards, Scotiabank Arena, Raptors, Toronto, Wizards, Washington, The, Celtics, Knicks, Boston, Bucks, Bulls, Milwaukee, Chicago, Cavaliers, Fox, Sacramento, Cleveland, Thomson Locations: Toronto , Ontario, New York, Sacramento

☆ De'Aaron Fox returns to power Kings past Cavaliers
▼ + stars: | 2023-11-14 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/54] Nov 13, 2023; Sacramento, California, USA; Cleveland Cavaliers guard Darius Garland (10) drives past Sacramento Kings guard De'Aaron Fox (5) in the first quarter at the Golden 1 Center. Keegan Murray (25 points) and Kevin Huerter (20) were the two other Kings starters with 20 or more points, while Malik Monk (13) and Vezenkov (11) reached double figures off the bench. All five Kings starters made at least half of their shots, helping Sacramento shoot 59 percent for the game. All five Cavaliers starters scored in double figures, led by Donovan Mitchell with 22 points. Levert (21) and Georges Niang (12) had double-figure scoring games off the bench to give the Cavaliers seven players with 12 or more points.

Persons: Darius Garland, De'Aaron Fox, Cary Edmondson, Domantas Sabonis, Fox, Sabonis, Sasha Vezenkov, Keegan Murray, Kevin Huerter, Malik Monk, Murray, Donovan Mitchell, Evan Mobley, Max Strus, Jarrett Allen, Georges Niang Organizations: Cleveland Cavaliers, Sacramento Kings, Cavaliers, Sacramento, Cleveland, Thomson Locations: Sacramento , California, USA, Sacramento

☆ Gulf bourses mixed as China pessimism offsets higher oil prices
▼ + stars: | 2023-11-12 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/ File Photo Acquire Licensing RightsNov 12 (Reuters) - Gulf stock markets put in a mixed performance on Sunday as higher oil prices were offset by worries of faltering demand from China, the world's top crude importer. Oil prices - a major driver of Gulf financial markets - rose about 2% on Friday as Iraq voiced support for OPEC+ oil cuts ahead of a meeting of the group on Nov. 26. The retailer reported a third-quarter net loss of 202.9 million riyals ($54.1 million) compared to a net profit of 21.1 million riyals a year earlier. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 1.7%, with Commercial International Bank (COMI.CA) down 2.5% and Misr Fertilizer (MFPC.CA) losing 4.6%. However, Credit Agricole Egypt (CIEB.CA) gained 3.7% as the lender reported a 121% jump in third quarter consolidated net profit.

Persons: Joe Biden, Hamad I Mohammed, Brent, Masraf Al Rayan, Fawaz Abdulaziz Alhokair Co, Md Manzer Hussain, Kirsten Donovan Organizations: Bahrain Bourse, U.S, REUTERS, OPEC, Qatar, Saudi Telecom, Human Resources, Commercial International Bank, Misr, Agricole Egypt, Thomson Locations: Bahrain, Manama, China, Iraq, Saudi

☆ Tens of thousands protest across Spain at proposed Catalan amnesty
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

MADRID, Nov 12 (Reuters) - Tens of thousands of people protested across Spain on Sunday against acting prime minister Pedro Sanchez's plans to grant amnesty to Catalan separatists in exchange for support for another term in office. The government secured a deal with Catalan separatist party Junts on Thursday which includes passing a contentious law granting amnesty to those convicted over Catalonia's attempt to secede from Spain in 2017. "He (Sanchez) has betrayed coexistence, democracy...he can't keep governing," said banker Tomas Perez, 38, holding a sign reading "Sanchez traitor". After an inconclusive July 23 election, the Socialists spent weeks negotiating with smaller parties including far-left platform Sumar and Catalan, Galician and Basque nationalist parties. Reporting by Miguel Gutierrez and Guillermo Martinez; Writing by Jessica Jones; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Sanchez's, Junts, Alberto Nunez Feijoo, Puerta, amnesties, Catalonia's, Sanchez, Tomas Perez, Inmaculada Herranz Castro, Miguel Gutierrez, Guillermo Martinez, Jessica Jones, Kirsten Donovan Organizations: People's Party, Authorities, Popular Party, Spain's, Socialists, Basque Nationalist Party, Thomson Locations: MADRID, Spain, Sol, Madrid, Spanish, EU, Barcelona, Granada, Seville, Malaga, Palma, Valencia, Galician, Basque

With 1:47 remaining and the score tied at 38-all against the Chargers on Sunday, the Detroit Lions coach went for it on fourth-and-2 from the Los Angeles 26-yard line. A field goal would have given Justin Herbert and the Chargers a chance to win or send the game to overtime. Goff then kneeled down three times, Riley Patterson kicked a 41-yard field goal as time expired, and the Lions prevailed in a 41-38 shootout over the Chargers. Goff responded by leading the Lions (7-2) on a nine-play, 53-yard drive, culminating in Patterson's kick. It was the Lions' longest touchdown run since Jahvid Best went 88 yards in 2011.

Persons: — Dan Campbell, Justin Herbert, Jared Goff, Sam LaPorta, Goff, Riley Patterson, “, Justin, ”, Campbell, ” Campbell, Herbert, Keenan Allen, Brandon Staley, Kenneth Murray Jr, ” Staley, David Montgomery, Jahmyr Gibbs, Ra St, Brown, Calvin Johnson, haven’t, Gibbs, Jalen Guyton, Quentin Johnston, Brock Wright, Montgomery, ” Montgomery, Jahvid Best, Barry Sanders, Donovan Peoples, Jones, Chris Rumph, LB Kenneth Murray Jr, Gerald Everett, ___ Organizations: Chargers, Detroit Lions, Lions, ”, Los Angeles, SoFi, Rams, NFC, Anaheim Hills, Southern, Detroit, Miami, Austin Ekeler's, Cleveland, LB, Host Chicago, Sunday Locations: INGLEWOOD, Calif, Angeles, Los, Southern California, Detroit, Goff, Green

☆ Germany set to double Ukraine military aid
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

German Chancellor Olaf Scholz delivers a speech on the day of the opening of an electrolysis gigafactory in Berlin, Germany November 8, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German chancellor Olaf Scholz's governing coalition has agreed in principle to double the country's military aid for Ukraine next year to 8 billion euros ($8.5 billion), a political source in Berlin said on Sunday. Defence minister Boris Pistorius, interviewed by broadcaster ARD, referred to the planned doubling of military aid to Ukraine. "Doubling the military spending is both the right thing to do and important," it quoted member of parliament Andreas Schwarz, who acts as an SPD military budget official, as saying. A European Union plan to spend up to 20 billion euros ($21 billion) on military aid for Ukraine is meeting with resistance from EU countries, diplomats said this week.

Persons: Olaf Scholz, Annegret, Olaf Scholz's, Boris Pistorius, Andreas Schwarz, Gursimran Kaur, Holger Hansen, Vera Eckert, David Gregorio, Kirsten Donovan, Giles Elgood Organizations: REUTERS, Rights, Atlantic Treaty Organization, Scholz's Social Democrats, Free Democrats, Green, Bundestag, Bloomberg News, Germany's Ministry of Defence, ARD, Thomson Locations: Berlin, Germany, Ukraine, Bengaluru, Frankfurt

☆ NBA roundup: Magic's balanced attack too strong for Bucks
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +4 min

Orlando took the lead late in the first quarter and never looked back, building an advantage of as many as 21 points behind a balanced offensive attack. Jalen Suggs supplied 20 points as five Orlando scorers finished in double figures, including Moritz Wagner, who had 19 points off the bench. Moritz Wagner scored 12 points in the first half to help ignite the pivotal, second-quarter surge that gave Orlando the lead for the rest of the game. Brown was 12 of 20 from the field and scored 21 points in the second half. Boston also received 21 points, seven rebounds and three assists from Kristaps Porzingis.

Persons: Paolo Banchero, Franz Wagner, Giannis Antetokounmpo, Orlando, Antetokounmpo, Damian Lillard, Jalen Suggs, Moritz Wagner, Jonathan Isaac, LeVert, Dean Wade, Donovan Mitchell, Darius Garland, Evan Mobley, Stephen Curry, Klay Thompson, Andrew Wiggins, Looney, Jaylen Brown, Jayson Tatum, Brown, Tatum, Kristaps, Pascal Siakam, Siakam, Dennis Schroder, Jakob Poeltl, Malachi Flynn, Scottie Barnes, Bam Adebayo, Jaime Jaquez Jr, Adebayo, Jaquez, Tyler Herro, Jimmy Butler, Atlanta's Trae Young, Dejounte Murray, Bogdan Bogdanovic, Murray Organizations: Orlando, Milwaukee Bucks, Milwaukee, Bucks . Cavaliers, Warriors, Cleveland, Golden State, Cavaliers, Celtics, Raptors, Toronto, Boston, Hawks, Atlanta, Miami, San Antonio Spurs, Thomson Locations: San Francisco, Boston, Miami

☆ Al Shifa hospital suspends operations, baby dies: Gaza health ministry
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

GAZA, Nov 11 (Reuters) - The spokesperson for the Gaza health ministry said that operations in Al Shifa hospital complex, the largest in the Palestinian enclave, were suspended on Saturday after it ran out of fuel"As a result, one newborn baby died inside the incubator, where there are 45 babies," Ashraf Al-Qidra, the spokesman for the Health Ministry in Hamas-controlled Gaza told Reuters. We are besieged inside the Al Shifa Medical Complex, and the occupation has targeted most of the buildings inside," Qidra said by telephone. The Israeli military has said that Hamas militants who rampaged through southern Israel last month have placed command centres under Shifa hospital and others in Gaza, making them vulnerable to being considered military targets. "The occupation forces are firing on people moving inside the complex, which is limiting our ability to move from one department to another. Reporting by Nidal Al Mughrabi, writing by Omar Abdel-Razek and Philippa Fletcher, editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ashraf Al, Qidra, Nidal Al Mughrabi, Omar Abdel, Razek, Philippa Fletcher, Kirsten Donovan Organizations: Health Ministry, Hamas, Reuters, Al, Thomson Locations: GAZA, Gaza, Al Shifa, Gaza City, Israel

☆ PetroChina to replace Exxon as lead contractor for Iraq's West Qurna 1 oilfield, oil executive says
▼ + stars: | 2023-11-11 | by ( Aref Mohammed | ) www.reuters.com time to read: +2 min

"We studied the settlement agreement and the oil ministry with the Basra Oil Company believe that the best option is for Petrochina to become the lead contractor of West Qurna 1," Hassan Mohammed, deputy Basra Oil Co. manager in charge of oilfields and licensing rounds affairs, told Reuters. Exxon and PetroChina were not immediately available for comment, but two oil managers at the West Qurna 1 field confirmed the details of the settlement and sale agreement signed with Exxon. Basra Oil Company director Khalid Hamza told Reuters in an interview in 2021 that Exxon was seeking to sell the share for $350 million. West Qurna 1, in southern Iraq, is one of the world’s largest oilfields with recoverable reserves estimated at more than 20 billion barrels. Following its exit from West Qurna 1, Exxon will have no presence in Iraq's energy sectory, said BOC officials.

Persons: Hassan Mohammed, PetroChina, Mohammed, Pertamina, Khalid Hamza, Aref Mohammed, Hadeel Al, Ahmed Rasheed, Kirsten Donovan, Giles Elgood Organizations: Exxon Mobil Corp, Basra Oil Company, Basra Oil Co, Reuters, Exxon, Exxon Mobil Corp's, BOC, Exxon Mobil’s, Thomson Locations: BASRA, Iraq, Iraqi, Basra, West, Indonesia’s, Iraq’s, Hadeel Al Sayegh, Dubai

Simmons, though, saved some of his profusive praise for one of Denver's current pass rushers, Baron Browning, a third-year pro from Ohio State who has transitioned from inside to outside linebacker. Browning missed the first two months of the season while recovering from knee surgery and a wrist injury. Political Cartoons View All 1240 Images“It's crazy to have that type of impact really your first game back,” Simmons said. The most impressive play by Browning was his strip sack of Mahomes on first-and-10 from the Broncos 19 less than a minute before halftime. “He has that bend and he has that athleticism to be able to put himself in that upper echelon of pass rushers.

Persons: — Justin Simmons, Von Miller, “, ” Simmons, Miller, Simmons, Baron Browning, Browning, Vance Joseph, Patrick Mahomes, ”, Donovan Smith, Smith wobbled, Jonathon Cooper, Von's, that's, ” Browning, Everyone's, Joseph, He’s Organizations: Denver Broncos, Rams, Bills, Ohio State, Green, Kansas City Chiefs, ” Kansas City, Broncos, Chiefs, Famer Locations: ENGLEWOOD, Colo, Buffalo, ” Kansas, Mahomes, Denver

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