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☆ U.N. Agency in Gaza Says One in Three Children Under 2 Is Acutely Malnourished
▼ + stars: | 2024-03-16 | by ( March | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - One in three children under age 2 in northern Gaza is now acutely malnourished and famine is looming, the main U.N. agency operating in the Palestinian enclave said on Saturday. "Children's malnutrition is spreading fast and reaching unprecedented levels in Gaza," the U.N. Hospitals in Gaza have reported some children dying of malnutrition and dehydration. Israel says it puts no limit on humanitarian aid for civilians in Gaza and blames slow aid delivery on incapacity or inefficiency among U.N. agencies. Israel has accused UNRWA of complicity with Hamas, saying some staff members took part in the Oct. 7 attack and calling for the agency to be dismantled.

Persons: Israel, Janez Lenarcic, Angus McDowall, Jason Neely Organizations: Reuters, Works Agency for Palestine Refugees, IPC, Air, UNRWA, Union Locations: Gaza, Israel, Cyprus

☆ Russian Prosecutors Seek to Nationalise Seized Car Dealership, Court Says
▼ + stars: | 2024-01-16 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

MOSCOW (Reuters) - Russia's Prosecutor General's Office has filed a lawsuit in a St Petersburg court seeking to nationalise car dealership Rolf, the court said late on Monday, just weeks after Moscow put the asset under the state's temporary management. St Petersburg's Moskovskiy District Court said it had accepted a lawsuit filed by prosecutors, which seeks the seizure of all shares in Rolf, Russia's largest car dealership, and affiliated companies as "property obtained in violation of anti-corruption legislation". Russian businessman Sergei Petrov, who owns Rolf, has long been accused by Russian authorities of illegally moving money abroad, charges he denies, and has had a warrant issued for his arrest. In December 2023, Russian President Vladimir Putin placed Rolf under temporary state management, a move the Kremlin said was driven solely by "economic expediency and compliance with current legislation". The court said prosecutors had asked the court to hand over all shares, should they be seized fully, to the state.

Persons: Rolf, Sergei Petrov, Vladimir Putin, Petrov, Gleb Stolyarov, Alexander Marrow, Jason Neely Organizations: General's, Kremlin, Reuters Locations: MOSCOW, St Petersburg, Moscow, Petersburg's Moskovskiy, Rolf, Russia's, Russian, Austria

Saudi Arabia, Russia and other members of OPEC+ pump more than 40% of the world's oil, or some 43 million bpd. Two OPEC+ sources told Reuters a preliminary agreement has been reached for a cut of more than 1 million bpd. This would include Saudi Arabia extending the voluntary cut of 1 million bpd it has had in place since July plus additional contributions from other members, sources said. "It depends on other group participants, could be near or more," the third source said when asked about the possible 1 million bpd cut. The OPEC+ meeting coincides with the opening of the United Nations' COP28 climate summit being hosted by OPEC member the United Arab Emirates.

Persons: Dado Ruvic, Helima Croft, Alex Lawler, Olesya Astakhova, Maha El Dahan, Ahmad Ghaddar, David Goodman, Jason Neely Organizations: REUTERS, OPEC, Reuters, Saudi, Brent, RBC Capital Markets, International Energy Agency, United Nations, United, United Arab Emirates, Thomson Locations: OPEC, MOSCOW, DUBAI, Saudi Arabia, Russia, United Arab

☆ Dollar slips on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Currencies traded in a relatively narrow range with U.S. markets closing early the day after the U.S. Thanksgiving holiday. "I think what we're seeing is a classic case of the market taking the 'path of least resistance.'" The dollar index , which measures the U.S. currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. German business morale improved for a third straight month in November, data showed.

Persons: Marcos Brindicci, Michael Brown, Jane Foley, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely, Richard Chang Organizations: REUTERS, U.S, Trader, P Global, Rabobank, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, Germany, Singapore

☆ Dollar eases on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. "I think what we're seeing is a classic case of the market taking the 'path of least resistance'," Brown said. The dollar index , which measures the U.S. currency with six peers, eased 0.3% to 103.43, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. Elsewhere, the Japanese yen was about flat against the dollar at 149.53, after strengthening following data that showed Japan's core consumer price growth picked up slightly in October. Separate data showed German business morale improved for a third straight month in November.

Persons: Marcos Brindicci, Michael Brown, Brown, X's Brown, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely Organizations: REUTERS, U.S, Trader, P Global, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, U.S, Germany, Singapore

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON/MOSCOW, Nov 24 (Reuters) - OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, four OPEC+ sources told Reuters, after disagreements over those targets forced the group of oil-producing nations to postpone a key meeting. As of October, Angola was pumping less than its quota for 2024, according assessments by independent sources cited by OPEC. Nigeria is pumping close to its 2024 quota of 1.38 million bpd but less than a 2024 level of 1.58 million bpd being considered for it subject to independent assessments. The market is also waiting to see if Saudi Arabia extends its additional 1 million bpd voluntary production cut, which is due to expire at the end of December.

Persons: Leonhard Foeger, OPEC Gabriel Tanimu Aduda, Maha El, Jason Neely Organizations: Organization, REUTERS, Reuters, of, Petroleum, Brent, OPEC, Thomson Locations: OPEC's, Vienna, Austria, MOSCOW, Angola, Nigeria, Russia, OPEC, Saudi Arabia, Maha El Dahan, Dubai

☆ Amazon hit by strikes, protests across Europe during Black Friday
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +4 min

In England, more than 200 workers were striking on Friday at Amazon's warehouse in Coventry as part of a long-running dispute over pay. The striking workers were chanting their demand for a pay rise to 15 pounds ($18.69) an hour. [1/4]People hold a banner during a Black Friday strike outside the Amazon warehouse, in Coventry, Britain November 24, 2023. Spanish union CCOO called for Amazon warehouse and delivery workers to stage a one-hour strike on each shift on "Cyber Monday" next week. Amazon has remained popular in Europe even as rivals like Shein and Temu have seen rapid growth.

Persons: Amazon's, Verdi, Nick Henderson, Phil Noble, Amazon, CGIL, CCOO, Helen Reid, James Davey, Matthias Inverardi, Elisa Anzolin, Corina Pons, Nick Zieminski, Jason Neely Organizations: UNI Global Union, U.S, Amazon, REUTERS, Reuters Graphics, Thomson Locations: Europe, U.S, Germany, Rheinberg, Leipzig, England, Amazon's, Coventry, Britain, Italy, Castel San Giovanni, Spanish, France, London, Dusseldorf, Milan, Madrid

OPEC+ said after its last meeting in June that the 2024 output quotas of Angola, Nigeria and Congo were conditional on reviews by outside analysts. "The postponement of the meeting also shows there are some different views among the group participants." A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Giovanni Staunovo, Brent, Leonhard Foeger, Alexander Novak, Prince Abdulaziz bin Salman, Helima Croft, Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan, Deepa Babington Organizations: Oil, DUBAI, Organization of, Petroleum, REUTERS, Russian, Saudi Energy, OPEC, RBC Capital, Bloomberg News, Thomson Locations: LONDON, OPEC, Angola, Nigeria, Congo, Russia, Vienna, Austria, OPEC's Vienna, Saudi Arabia

☆ Oil edges lower in choppy trade as OPEC+ delays meeting
▼ + stars: | 2023-11-22 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. The delay stoked concerns that more production could come online from oil producers in the coming months, said Dennis Kissler, senior vice president of trading at BOK Financial. A rise in inventories also pressured prices lower on Wednesday morning, he said. U.S. crude oil inventories rose by 8.7 million barrels last week on higher imports, the Energy Information Administration (EIA) said. To support prices, OPEC and its allies will need to not only extend, but increase cuts, said John Evans of oil broker PVM in a note.

Persons: Angus Mordant, Dennis Kissler, John Evans, Nicole Jao, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, . West Texas, U.S, Organization of, Petroleum, BOK, Energy Information Administration, U.S ., greenback, Reuters, International Energy, Thomson Locations: Loving County , Texas, U.S, Brent, OPEC, Saudi Arabia, Russia

☆ LVMH heir Antoine Arnault in spotlight after management shuffle
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Antoine Arnault, 46, is also in charge of image and environment at LVMH, and credited with negotiating a high-profile deal for the company to sponsor next summer's Paris Olympic Games. He will remain chairman of Berluti, which he has managed since 2012, as well as another LVMH fashion brand Loro Piana. Jean-Marc Mansvelt, CEO of historic jewellery label Chaumet, will become CEO of Berluti, while Charles Leung, CEO of jewellery label Fred, will become CEO of Chaumet. The group will seek a successor for Leung, who recently created buzz by introducing high-end jewellery featuring lab-created diamonds. Reporting by Mimosa Spencer; editing by Jason Neely and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Persons: Antoine Arnault, Du, Bernard Arnault, Berluti, Maison, Toni Belloni, Jean, Marc Mansvelt, Charles Leung, Leung, Bernard Arnault's, Delphine Arnault, Dior, Mimosa Spencer, Jason Neely, Jane Merriman Organizations: LVMH, Olympic, Thomson Locations: Paris, PARIS, LVMH

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing RightsSummaryCompanies OPEC+ meeting delayed to Nov. 30Brent falls below $80Eyes on whether OPEC+ cuts will be rolled over or deepenedLONDON, Nov 22 (Reuters) - Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. OPEC+ delayed its ministerial meeting to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement, a surprise development that gave no reason for the postponement. Earlier on Wednesday, Bloomberg News reported that the OPEC+ meeting could be delayed for an unspecified period of time after Saudi Arabia expressed its dissatisfaction with other members about their output numbers. Analysts had predicted before the delay that OPEC+ was likely to extend or even deepen oil supply cuts into next year.

Persons: Angus Mordant, Brent, Rong Yeap, John Evans, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely Organizations: REUTERS, Brent, . West Texas, OPEC, Wednesday, Bloomberg News, Reuters, Organization of, Petroleum, IG, International Energy, Thomson Locations: Loving County , Texas, U.S, Saudi Arabia, Russia, OPEC, London

A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsSummary OPEC+ had been scheduled to meet on SundayOil drops almost 5% as delay raises questions about output cutsDelay shows there are some different views in group - analystDUBAI/LONDON, Nov 22 (Reuters) - OPEC+ has delayed a ministerial meeting expected to discuss oil output cuts to Nov. 30 from Nov. 26, OPEC said in a statement on Wednesday, a surprise development that sparked a further drop in oil prices. The delay to the meeting into next week might be to allow more time for countries to discuss both compliance with existing output cuts and potential additional cuts, an OPEC+ source said, declining to be named. Saudi Arabia, Russia and other OPEC+ members have already pledged oil output cuts of about 5 million barrels per day (bpd), or about 5% of daily global demand, in a series of steps that started in late 2022. This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023.

Persons: Leonhard Foeger, Giovanni Staunovo, Brent, Helima Croft, Nadine Awadalla, Nayera Abdalla, Ahmad Ghaddar, Vladimir Soldatkin, El, Alex Lawler, Jason Neely, Mark Potter, Kirsten Donovan Organizations: Organization of, Petroleum, REUTERS, Sunday, DUBAI, RBC Capital, Bloomberg News, Thomson Locations: Vienna, Austria, LONDON, Russia, OPEC, OPEC's Vienna, Saudi Arabia

☆ Explainer: OPEC+ oil policies: what cuts are already in place and what could change
▼ + stars: | 2023-11-21 | by ( Alex Lawler | ) www.reuters.com time to read: +3 min

This figure includes a 1 million bpd voluntary reduction by Saudi Arabia and a 300,000 bpd cut in Russian oil exports, both of which last until the end of 2023. OPEC+ at its last meeting in June extended oil output cuts of 3.66 million bpd, amounting to 3.6% of global demand, until the end of 2024. That figure comprises a 2 million bpd cut agreed in 2022, and a further 1.66 million bpd in voluntary cuts from nine OPEC+ countries agreed earlier this year. OPEC+ could further revise 2024 targets for Nigeria, Angola and Congo after reviews by outside analysts, it said in June. *** Russia's 500,000 bpd voluntary cut is from March 2023 to December 2024 to around 9.5 million bpd, according to Deputy Prime Minister Alexander Novak.

Persons: Alexander Manzyuk, Alexander Novak, Alex Lawler, Dmitry Zhdannikov, Jason Neely Organizations: REUTERS, OPEC, International Energy Agency, United Arab Emirates, Reuters, Saudi, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, Vienna, OPEC, Nigeria, Angola, Congo, Bahrain, Brunei, Malaysia, Sudan, South Sudan

Money market traders are betting September's hike was the last, with almost 90 basis points of rate cuts priced by the end of 2024. European shares underperforming their U.S. counterparts was a common expectation amongst the survey's European respondents as the robust American economy looks more likely to achieve a 'soft landing' than Europe. European shares are much cheaper than those in the U.S., possibly reflecting the worse economic outlook. The STOXX Europe 600 trades at over 12 times 12-month forward earnings, a 35.6% discount to the S&P 500 (.SPX). "Still, as the broader economic slowdown takes hold of the continent's markets, we expect to see a rather challenging second half of 2024."

Persons: Chris Beauchamp, Thomas Monteiro, Germany's DAX, Fiona Cincotta, Cincotta, Investing.com's Monteiro, Monteiro, Samuel Indyk, Danilo Masoni, Pranoy Krishna, Rahul Trivedi, Sarupya Ganguly, Jason Neely Organizations: IG, European Central Bank, ECB, Investing.com, FTSE, Bank of England, Thomson Locations: Europe, Germany, riskier, U.S, Bengaluru

LONDON, Nov 21 (Reuters) - The shares and bonds of CPI Property Group (O5G.DE) fell sharply on Tuesday after short-selling hedge fund Muddy Waters said it had bet against the credit of the Luxembourg-based commercial landlord. In a report, seen by Reuters, the fund said CPI Property Group's controlling shareholder, Czech billionaire Radovan Vitek, had misstated the value of the company. CPI Property Group's Frankfurt-listed shares were last down 2.8% on the day, while the price of its 2027 medium-term note fell 3.5 cents on the day to 70.259, data from Tradeweb showed. Muddy Waters did not specify against which bond it had taken a short position and the company has several outstanding notes listed. CPI Property Group owns properties in Germany, the Czech Republic, Poland and elsewhere in Central and Eastern Europe.

Persons: Muddy Waters, Radovan Vitek, Nell Mackenzie, Amanda Cooper, Jason Neely Organizations: CPI, Reuters, Group's, CPI Property Group, Thomson Locations: Muddy, Luxembourg, Czech, Group's Frankfurt, Tradeweb, Germany, Czech Republic, Poland, Central, Eastern Europe

☆ Why calls for oil embargo on Israel are unlikely to go anywhere
▼ + stars: | 2023-11-21 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +4 min

A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) on their headquarters in Vienna, Austria, June 2, 2023. The conflict has led many analysts, oil market watchers and politicians to draw parallels with the 1973 OPEC embargo, when Arab oil producers cut off oil exports to several allies of Israel, including the United States and Britain, following the Israeli-Arab war that year. Analysts and OPEC sources, however, say that the energy world today is far different from 50 years ago, and play down any possibility of a new embargo. Last month, Iranian Foreign Minister Hossein Amirabdollahian urged members of the Organisation of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel and expel all Israeli ambassadors. The embargo led to severe shortages with long queues forming at gas stations.

Persons: Leonhard Foeger, Israel, Hossein Amirabdollahian, Ayatollah Ali Khamenei, Ebrahim Raisi, JPM Morgan, Giovanni Staunovo, Morgan Bazilian, Mark Heinrich, Jason Neely Organizations: Organization of, Petroleum, REUTERS, Hamas, of, Reuters, Iranian, of Islamic Cooperation, OIC, Arab, Israel, GCC, Gulf Cooperation, UBS, Payne Institute, Thomson Locations: Vienna, Austria, Gaza, Iran, Israel, United States, Britain, Russia, OPEC, Riyadh, Saudi Arabia, Netherlands, Japan, U.S, Asia, China, India

Ministers from OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, meet on Sunday in Vienna. Robust global oil prices this year and Moscow's growing use of a shadow tanker fleet have meant that much Russian oil has traded mostly above the Western oil cap price. Moscow-based independent oil analyst Alexei Kokin said the oil prices declined from "very comfortable" levels to "just comfortable" levels. Russia has budgeted the price of Urals, its flagship oil grade, at 4,788 roubles ($53.36) per barrel this year. However, the share of energy sales in the federal budget proceeds - which used to exceed 50% of total budget revenue - has drastically declined.

Persons: Alexander Manzyuk, Vladimir Putin, Alexei Kokin, Ronald Smith, Vladimir Soldatkin, Guy Faulconbridge, Jason Neely Organizations: REUTERS, Energy, OPEC, Organization of, Petroleum, BCS, Investments, Brent, Thomson Locations: Republic of Tatarstan, Russia, MOSCOW, Vienna, OPEC, U.S, China, Saudi Arabia, United States, Moscow

☆ UK borrowing figures give Hunt some room for tax cuts
▼ + stars: | 2023-11-21 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

Government borrowing between April and October totalled 98.3 billion pounds ($122.49 billion), the Office for National Statistics (ONS) said on Tuesday. The data meant borrowing was running about 22 billion pounds higher than in the same period last year but almost 17 billion pounds less than the Office for Budget Responsibility (OBR) forecast in March, giving Hunt some fiscal room for manoeuvre. The ONS said that in October alone, public sector net borrowing, excluding state-owned banks, was 14.9 billion pounds last month. A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 12 billion pounds in the month. The figure was also higher than the OBR's forecast for borrowing of 13.7 billion pounds in the month.

Persons: Jeremy Hunt, Laura Kuenssberg, Isabel Infantes, Hunt, Rishi Sunak, Sunak, Liz, Michal Stelmach, Stelmach, William Schomberg, Kate Holton, Jason Neely Organizations: BBC Broadcasting House, REUTERS, National Statistics, KPMG, Labour Party, ONS, Thomson Locations: London, Britain

☆ Fan dies at Taylor Swift show in sweltering Rio de Janeiro
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +3 min

RIO DE JANEIRO, Nov 18 (Reuters) - A young Brazilian fan of U.S. singer Taylor Swift died in Rio de Janeiro on Friday night after falling ill inside the superstar's sweltering concert venue amid a record-breaking heatwave across large swathes of Brazil, prompting the government to mandate the provision of water during the tour. Swift said Benevides died "before my show" but Benevides' friends told local media that she became ill after the concert began. Swift is scheduled to perform in Rio on Saturday and Sunday followed by three shows in São Paulo between November 24 and 26. On Thursday, Rio's Christ the Redeemer statue welcomed Swift to town ahead of her first set of concerts. The more serious version is heat-stroke, when the body's core temperature goes above 105 degrees Fahrenheit (40.6 degrees Celsius).

Persons: Taylor Swift, Ana Clara Benevides, Nilton Santos, T4F, Salgado, Swift, Benevides, I'm, Flavio Dino, Wadih Damous, Rio's, Marcela Ayres, Gabriel Stargardter, Jason Neely, Diane Craft Organizations: RIO DE, Nilton, Hospital, Justice, Twitter, National Consumer, Thomson Locations: RIO DE JANEIRO, Brazilian, Rio de Janeiro, Brazil, Rio, São Paulo

☆ Germany's Scholz criticises Israel's settlements in occupied West Bank
▼ + stars: | 2023-11-18 | by ( Andreas Rinke | ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz attends a press conference with Turkish President Tayyip Erdogan (not pictured) at the Chancellery in Berlin, Germany, November 17, 2023. REUTERS/Fabrizio Bensch/ File Photo Acquire Licensing RightsBERLIN, Nov 18 (Reuters) - German Chancellor Olaf Scholz criticised Israel's settlement policy in the occupied West Bank on Saturday and repeated calls for a two-state solution for Israel and the Palestinians. "We don't want any new settlements in the West Bank, no violence by settlers against the Palestinians in the West Bank," Scholz said during a visit to Nuthetal in Brandenburg state. The best outcome for Israelis and Palestinians remains the two-state solution, he said. Germany is not only on Israel's side, but together with the U.S., it is the largest donor of humanitarian aid for the Palestinians, the chancellor said.

Persons: Olaf Scholz, Tayyip Erdogan, Fabrizio Bensch, Scholz, Andreas Rinke, Maria Martinez, Kirsten Donovan, Jason Neely Organizations: Turkish, REUTERS, Rights, West Bank, U.S, Thomson Locations: Berlin, Germany, Israel, Nuthetal, Brandenburg

☆ Russia's Urals oil from Baltic ports falls below $60 cap amid sanctions
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Nov 17 (Reuters) - Russia's Urals oil prices on Friday fell below the Western price cap level of $60 per barrel amid a rise in freight rates fuelled by fresh U.S. sanctions on shipowners and weaker global oil prices, two traders said and Reuters calculations showed. Russia's main export grade had been trading above $60 since mid-July amid output cuts by OPEC+ producers including Saudi Arabia and Russia. On Friday freight rates for Urals oil shipments from Russia's Baltic ports of Primorsk and Ust-Luga to India rose to $9.2-9.5 million per tanker per voyage from $8 million last week. Urals oil prices on a delivered ex-ship basis in Indian ports were stable at a discount of around $5 per barrel to dated Brent, traders said. High transportations costs weighed on FOB prices for Russian Urals oil, traders said, adding that amid weakness in Brent the grade's price was below $60 as of Friday.

Persons: Brent, Jason Neely Organizations: U.S . Treasury Department, United, Thomson Locations: MOSCOW, U.S, United Arab Emirates, Australia, Ukraine, Saudi Arabia, Russia, Primorsk, Ust, Luga, India, Brent

A sign is pictured outside an Eli Lilly and Company pharmaceutical manufacturing plant at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Incretins are peptide-based drugs such as Mounjaro that mimic gut hormones to suppress appetite and stimulate insulin secretion. Lilly said it had announced investments of more than $11 billion in global manufacturing in the past three years. Major production sites that Lilly runs outside of its U.S. home market are in Ireland, France, Spain, Italy and China. The new Alzey site will employ up to 1,000 highly skilled workers such as engineers, technicians and scientists, said Lilly.

Persons: Eli Lilly, Mike Segar, Lilly, Karl Lauterbach, Lauterbach, generics, Patrick Wingrove, Matthias Williams, Jason Neely, David Evans Organizations: Company, REUTERS, Rights, Reuters, U.S ., Novo Nordisk, European Union, pharma, The U.S ., Thomson Locations: Branchburg , New Jersey, Germany, Alzey, U.S, United States, Danish, Berlin, Fegersheim, France, European, Indiana , North Carolina, Limerick, Ireland, Spain, Italy, China, The U.S

☆ EU banks may face major hit if they need to sell bonds -Lagarde
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: 1 min

International Monetary Fund (IMF) Managing Director Christine Lagarde delivers a speech at the U.S. Chamber of Commerce in Washington, U.S., April 2, 2019. REUTERS/Kevin Lamarque/File photo Acquire Licensing RightsFRANKFURT, Nov 16 (Reuters) - European banks may suffer significant losses if they need to sell their bond holdings to raise cash, the European Central Bank's President Christine Lagarde said on Thursday. "EU banks’ holdings of fixed income securities could be marked down quite significantly, should they need to be sold," she told the annual conference of the European Systemic Risk Board, which she chairs. Reporting by Francesco Canepa; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Christine Lagarde, Kevin Lamarque, Francesco Canepa, Jason Neely Organizations: Monetary Fund, U.S . Chamber of Commerce, REUTERS, Rights, Central Bank's, Thomson Locations: Washington , U.S

☆ UK insurer Aviva posts 13% rise in nine-month premiums
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

A man walks past an AVIVA logo outside the company's head office in the city of London March 5, 2009. REUTERS/Stephen Hird (BRITAIN)/File Photo Acquire Licensing RightsLONDON, Nov 16 (Reuters) - British insurer Aviva (AV.L) on Thursday posted a 13% rise in its general insurance gross written premiums for the first nine months of the year, saying it would continue to return surplus capital to shareholders. Insurers have dealt with issues such as rising inflation and the higher cost of claims by increasing premiums. The life and general insurer, whose main markets are Britain, Canada and Ireland, reported premiums of 8 billion pounds ($9.91 billion), up from 7.2 billion a year earlier. "We see significant opportunities to generate further higher return, capital-light growth in the future as we prioritise these segments."

Persons: Stephen Hird, Amanda Blanc, Blanc, Eva Mathews, Carolyn Cohn, Huw Jones, Sherry Jacob, Phillips, Jason Neely Organizations: AVIVA, REUTERS, Aviva, RSA, Reuters, Thomson Locations: London, BRITAIN, British, Britain, Canada, Ireland, Bengaluru

☆ EU asks Amazon to clarify its measures to protect customers
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBRUSSELS, Nov 15 (Reuters) - The European Commission on Wednesday said it had given Amazon (AMZN.O) until Dec. 6 to provide more information on measures the online retailer takes to protect customers against illegal products. Under new online content rules known as the Digital Services Act (DSA) which came into force recently, major online platforms are required to do more to take down illegal and harmful content or risk fines of as much as 6% of their global turnover. Reporting by Bart Meijer; editing by Charlotte Van Campenhout and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Bart Meijer, Charlotte Van Campenhout, Jason Neely Organizations: Amazon, REUTERS, Rights, European Commission, Digital Services, Thomson Locations: New York City, U.S, Rights BRUSSELS

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