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OTTAWA, Nov 30 (Reuters) - The Canadian economy unexpectedly contracted at an annualized rate of 1.1% in the third quarter, data showed on Thursday, avoiding a recession but showing growth stumbling ahead of next week's interest-rate decision. The economy avoided slipping into a technical recession - defined as two consecutive quarter-on-quarter contractions - because second-quarter GDP data was revised up to a 1.4% gain from an initial report of a 0.2% decline, Statistics Canada said. The BoC has remained on the sidelines since July after lifting its benchmark interest rate to a 22-year high of 5% to tame inflation. "The bottom line is that the economy is still sputtering along," said Royce Mendes, head of macro strategy at Desjardins Group. Real GDP most likely edged up 0.2% in October after a 0.1% gain in September, Statscan said.
Persons: Doug Porter, Royce Mendes, Bipan Rai, Statscan, Ismail Shakil, Steve Scherer, Dale Smith, Divya Rajagopal, Fergal Smith, Mark Porter Organizations: OTTAWA, Bank of Canada's, Statistics, BMO Capital Markets, Canadian, U.S ., BoC, Desjardins Group, Bank of Canada, Bank, CIBC Capital Markets, Thomson Locations: Canadian, Statistics Canada, North America, Ottawa, Toronto
Nov 30 (Reuters) - Activist investor Nelson Peltz is pushing ahead with plans to seek at least three board seats at Disney (DIS.N) as the firm is not satisfied with Disney CEO Bob Iger's changes, several people familiar with the matter said. During a conversation on Thursday morning with Iger, Disney extended an offer for Trian to meet with the company's board but rejected the activist shareholder's request for seats on a board that will soon have 12 members, Trian said in a statement. He wanted the company to come up with a better succession plan, overhaul the streaming business and cut costs. Early this year, Peltz aborted a board challenge to give Iger time to "right the ship." "If they’ve made significant progress," Gadson said of Disney, proxy advisers "are more likely to allow for time to complete the transformation."
Persons: Nelson Peltz, Bob Iger's, Trian, Iger, Peltz, Disney, Morgan Stanley, James Gorman, Jeremy Darroch, Francis deSouza, Patrick Gadson, Vinson, they’ve, Gadson, Samrhitha, Dawn Chmielewski, Bayliss, Mark Porter, Lisa Shumaker Organizations: Disney, Trian, ESPN, Sky, Companies, Exxon, Svea Herbst, Thomson Locations: Bengaluru, Dawn, New York, Providence
If General Atlantic decided to sell its stake, a deal could now garner more interest from investors, the sources said. A deal could value the company, which assesses global oil prices and provides industry news, at north of 4 billion pounds ($5.08 billion), Reuters previously reported. Deliberations remain at an early stage and General Atlantic and Hg may decide not to proceed with a transaction, two of the people said. Argus Media, Hg and General Atlantic declined to comment. Hg bought half of General Atlantic's 50% stake in Argus in 2019, valuing the business at more than 2 billion pounds then.
Persons: Adrian Binks, Amy, Jo Crowley, Victoria Farr, Mark Porter Organizations: Argus Media, Reuters, Private, Investments, Atlantic, Atlantic's, Argus, Astorg, Thomson Locations: GIC, London, Argus, Frankfurt
TD said it would be challenging to meet its medium-term adjusted earnings growth target range of 7%-10% in the new fiscal year. It reported adjusted earnings of C$1.83 per share, 7 Canadian cents shy of estimates. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, according to LSEG data. CIBC also beat profit expectations as it set aside smaller-than-expected loan provisions and is slashing costs through a 5% reduction in its workforce, or about 2,400 jobs. The lender, Canada's fifth biggest, reported adjusted earnings of C$1.57 per share, compared with expectations of C$1.53.
Persons: Mark Blinch, Gabriel Dechaine, Kelvin Tran, Victor Dodig, Dave McKay, Niket, Balu, Arasu Kannagi Basil, Shinjini Ganguli, Kirsten Donovan, Mark Porter Organizations: Royal Bank of Canada, REUTERS, Canadian Imperial Bank of Commerce, RBC, National Bank, CIBC, TD Bank, Bank Nova Scotia, Bank of Montreal, Scotiabank, Tuesday, Thomson Locations: Toronto, dealmaking, PCLs, Canada, United States, U.S, Bengaluru
An Autel Robotics Dragonfish Pro drone, with an 18-mile range, is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. REUTERS/Steve Marcus/File Photo Acquire Licensing RightsWASHINGTON, Nov 30 (Reuters) - A bipartisan group of 11 U.S. House lawmakers on Thursday asked the Biden administration to investigate and potentially sanction Chinese drone maker Autel Robotics, citing national security concerns. The Pentagon said it would respond to the lawmakers' letter. Another signer of the letter, Republican Representative Elise Stefanik, said, "Autel drones made in Communist China present an unacceptable national security risk and should not be allowed to operate in America." Over 50% of drones sold in the United States are made by DJI, and they are the most popular drones in use by public safety agencies, Republican lawmakers said earlier this year.
Persons: Steve Marcus, Biden, Mike Gallagher, Raja Krishnamoorthi, Autel, Elise Stefanik, Gallagher, Krishnamoorthi, David Shepardson, Chris Reese, Mark Porter Organizations: Las Vegas Convention, REUTERS, Rights, House, Republican, Commerce , Defense, Treasury, Autel Robotics, Technology, Robotics, China's People’s Liberation Army, PLA, Pentagon, Commerce, Commerce Department, U.S . Interior Department, Thomson Locations: Las Vegas , Nevada, U.S, House China, Communist China, America, China, Xinjiang, Ukraine, The U.S, United States
Vice Chairman of Microsoft Brad Smith looks on during the 5th Summit of "Christchurch Call", at the Elysee Presidential Palace in Paris, France November 10, 2023. LUDOVIC MARIN/Pool via REUTERS/File Photo Acquire Licensing RightsLONDON, Nov 30 (Reuters) - The president of tech giant Microsoft (MSFT.O) said there is no chance of super-intelligent artificial intelligence being created within the next 12 months, and cautioned that the technology could be decades away. Reuters last week exclusively reported that the ouster came shortly after researchers had contacted the board, warning of a dangerous discovery they feared could have unintended consequences. However, Microsoft President Brad Smith, speaking to reporters in Britain on Thursday, rejected claims of a dangerous breakthrough. Asked if such a discovery contributed to Altman's removal, Smith said: "I don't think that is the case at all.
Persons: Microsoft Brad Smith, LUDOVIC MARIN, Sam Altman, Brad Smith, It's, Smith, ” Smith, Martin Coulter, Sharon Singleton, Mark Porter Organizations: Microsoft, Reuters, Thomson Locations: Christchurch, Elysee, Paris, France, Britain
A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsNov 29 (Reuters) - Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance. Phillips 66 has lagged its U.S. refining rivals at a time when fuel demand and margins have soared for the industry. Phillips 66 Chief Executive Mark Lashier acknowledged discussions with Elliott but did not say whether the company was open to adding two Elliott-recommended directors to its board. Phillips 66 currently has 13 board members.
Persons: Bing Guan, Phillips, Mark Lashier, Elliott, Lashier, John Pike, Mike Tomkins, Garfield Miller, Miller, Svea Herbst, Bayliss, Laura Sanicola, Gary McWilliams, Anil D'Silva, Bernadette Baum, Mark Porter Organizations: Phillips, Los, Los Angeles Refinery, Elliott Investment Management, Marathon Petroleum, Energy, Exxon Mobil, Aegis Energy Advisors, Elliott, Svea, Thomson Locations: Los Angeles, Carson , California, U.S, Houston, Providence, New York, Bengaluru
Former governor of Argentina's central bank, Luis Caputo, speaks alongside Economy Minister Nicolas Dujovne during a news conference in Buenos Aires, Argentina May 4, 2018. REUTERS/Marcos Brindicci/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 29 (Reuters) - Argentina President-elect Javier Milei will appoint Luis Caputo as his economy minister, he said in a radio interview on Wednesday in Buenos Aires, after a two-day trip to the United States. "The minister of economy will be Luis Caputo," Milei told Radio La Red, although his office has yet to officially confirm the nomination. This will not be the first time for Caputo, a former Wall Street banker, as a government official. The economist was later appointed as central bank governor in 2018.
Persons: Luis Caputo, Nicolas Dujovne, Marcos Brindicci, Javier Milei, Caputo, Milei, elect's, Mauricio Macri's, Jorgelina, Adam Jourdan, Bernadette Baum, Mark Porter Organizations: REUTERS, Radio La, Monetary Fund, Wall Street, IMF, Thomson Locations: Argentina's, Buenos Aires, Argentina, BUENOS AIRES, United States, dollarizing Argentina, Milei, Washington, Rosario
Bolivia Gets Green Light for Full Mercosur Membership
  + stars: | 2023-11-29 | by ( Nov. | At A.M. | )   time to read: +2 min
By Lucinda ElliottSAO PAULO (Reuters) - Bolivia is set to become a full member of the South American Mercosur trade bloc following a decision on Tuesday by the Brazilian Senate to approve the country's admission. The vote on the accession of Bolivia to Mercosur is expected to be formally concluded during a regional summit on Dec. 7 in Rio de Janeiro. "Thank you to the senators for completing this process and congratulations to President Arce and Bolivia for joining us in Mercosur," Lula said on social media. Prospects for finally concluding the trade agreement with the EU gained traction following the election of ultra-liberal Javier Milei, a staunch critic of Mercosur, as president of Argentina. Bolivia was one of the worst offenders of primary forest clearances last year, behind only Brazil and the Democratic Republic of Congo, according to Global Forest Watch that monitors deforestation rates.
Persons: Lucinda Elliott, Luis Inacio Lula da Silva, Arce, Lula, Javier Milei, Milei, Mark Porter Organizations: Lucinda Elliott SAO PAULO, Reuters, South American Mercosur, Brazilian Senate, European Union, EU, Mercosur, Democratic, Global Forest Watch Locations: Bolivia, Brazilian, Mercosur, Rio de Janeiro, Brazil, Argentina, Paraguay, Uruguay, Democratic Republic of Congo
China's Xi visits financial hub Shanghai
  + stars: | 2023-11-29 | by ( )   time to read: +3 min
Chinese President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsSHANGHAI, Nov 29 (Reuters) - China President Xi Jinping visited Shanghai, where he went to several venues and learned about the city's efforts to strengthen its competitiveness as an international financial centre, Xinhua news agency reported on Wednesday. Xi made the trip on Tuesday and Wednesday and he inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community, the report said. Vice Premier He Lifeng, Shanghai's Communist party secretary Chen Jining and Mayor Gong Zheng also accompanied his visit. It was his first visit to the city since November 2020 and comes a year after historic street protests against China's zero-COVID policy broke out in Shanghai.
Persons: Xi Jinping, Kevin Lamarque, Xi, Cai Qi, Chen Jining, Gong Zheng, Xi's, Premier Li Qiang, Brenda Goh, Bernard Orr, Ella Cao, Ethan Wang, Mark Potter, Louise Heavens, Chizu Nomiyama, Mark Porter Organizations: Economic Cooperation, REUTERS, Rights, Shanghai Futures Exchange, Communist Party of China Central Committee, CPC, Communist, Shanghai Free, Trade, Disney, L'Oreal, Premier, Thomson Locations: Asia, San Francisco , California, U.S, China, Shanghai, Xinhua, Minhang
SAO PAULO, Nov 29 (Reuters) - Bolivia is set to become a full member of the South American Mercosur trade bloc following a decision on Tuesday by the Brazilian Senate to approve the country's admission. The vote on the accession of Bolivia to Mercosur is expected to be formally concluded during a regional summit on Dec. 7 in Rio de Janeiro. "Thank you to the senators for completing this process and congratulations to President Arce and Bolivia for joining us in Mercosur," Lula said on social media. Prospects for finally concluding the trade agreement with the EU gained traction following the election of ultra-liberal Javier Milei, a staunch critic of Mercosur, as president of Argentina. Bolivia was one of the worst offenders of primary forest clearances last year, behind only Brazil and the Democratic Republic of Congo, according to Global Forest Watch that monitors deforestation rates.
Persons: Luiz Inacio Lula da Silva, Arce, Lula, Luis Arce, Javier Milei, Milei, Lucinda Elliott, Mark Porter Organizations: SAO PAULO, South American Mercosur, Brazilian Senate, Bolivia, Senators, European Union, EU, Mercosur, Democratic, Global Forest Watch, Thomson Locations: Bolivia, Brazilian, Mercosur, Rio de Janeiro, Argentina, Paraguay, Uruguay, Brazil, Democratic Republic of Congo
NEW YORK, Nov 29 (Reuters) - An Indian government official directed an unsuccessful plot to assassinate a Sikh separatist on U.S. soil, the U.S. Justice Department said on Wednesday, in announcing charges against a man accused of orchestrating the attempted murder. Prosecutors did not name the Indian official or the target. According to prosecutors, the official recruited Gupta in May 2023 to orchestrate the assassination. The Indian government has complained about the presence of Sikh separatist groups outside India, including in Canada and the United States. The groups have kept alive the movement for Khalistan, or the demand for an independent Sikh state to be carved out of India.
Persons: Nikhil Gupta, Gupta, Damian Williams, Gurpatwant Singh Pannun, Hardeep Singh Nijjar, Nijjar, Luc Cohen, Doina Chiacu, Susan Heavey, Chizu Nomiyama, Mark Porter, Daniel Wallis Organizations: Indian, U.S . Justice, New York City, Prosecutors, Biden, Administration, Air, Air India Boeing, Thomson Locations: U.S, Manhattan, New York, India, Czech, New York City, Washington, United States, New Delhi, Canada, India's Punjab, Vancouver, Air India
"We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023," Supreme Court President Maria Eugenia Lopez said. First Quantum acknowledged the ruling and affirmed its "unwavering commitment to regulatory compliance in all aspects of our operations within the country." Panama President Laurentino Cortizo said the country will abide by the court ruling. For First Quantum, the Panama ruling would be a repeat of its decade-old experience in the Democratic Republic Of Congo. The company exited DRC in 2012 after it filed an arbitration procedure against the African country for cancelling its mining contract.
Persons: Aris Martinez, Maria Eugenia Lopez, Quantum, Laurentino Cortizo, Morgan, Ricardo Martinelli, Leonardo Di Caprio, Elida Moreno, Valentine Hilaire, Natalia Siniawski, Denny Thomas, Chizu Nomiyama, Mark Porter Organizations: Minerals, REUTERS, PANAMA CITY, Reuters, Panama, London Metal Exchange, Central, RBC, Democratic, Natural Resources Corporation PLC, Cobre, Thomson Locations: Panama's, Panama, Panama City, PANAMA, Central American, Democratic Republic Of Congo, Hollywood, Cobre Panama
A Meta logo is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. Judge Timothy Kelly of the U.S. District Court for the District of Columbia denied a motion filed by Meta on Monday for the court to hear the dispute with the Federal Trade Commission (FTC). Meta in a court filing on Tuesday said it would appeal Kelly's decision to the U.S. Court of Appeals for the District of Columbia. The dispute started in May when the FTC proposed changing a settlement reached in 2019 that required Facebook, which became Meta in 2021, to pay $5 billion. The FTC said it would tighten the 2019 settlement to bar Meta from making money off data collected on users under age 18, including in its virtual reality business.
Persons: Eric Gaillard, Timothy Kelly, Diane Bartz, Mark Porter, Richard Chang Organizations: Cannes Lions International, Creativity, REUTERS, WASHINGTON, Facebook, U.S, District of Columbia, Meta, Federal Trade Commission, U.S ., Appeals, FTC, Thomson Locations: Cannes, France, U.S
Nov 27 (Reuters) - Activist investor Elliott Investment Management on Monday said it was ready to nominate directors at Crown Castle International and push for the ouster of the wireless tower owner's executives and board members, whom it blames for years of underperformance. The hedge fund in a letter released on Monday said the company needs "comprehensive leadership change." It said it was ready to appeal to other shareholders to make changes to the 12-member board, signaling a possible proxy fight next year. Elliott sharply criticized management and the board saying a "lack of oversight ... contributed to its irresponsible stewardship and flawed financial policy." The hedge fund said the company "disregarded our data-driven analysis" and added that "our recommended changes were neither made nor taken seriously."
Persons: Elliott, Jesse Cohn, Jason Genrich, Jay Brown, Svea Herbst, Bayliss, Pooja Desai, Mark Porter Organizations: Investment Management, Crown Castle International, SBA Communications, Intelligence, Svea, Thomson Locations: Houston, Providence, Bengaluru
AMSTERDAM, Nov 27 (Reuters) - The Dutch government on Monday said that, after an assessment, it won't block Chinese-owned Nexperia's acquisition of Delft-based start-up Nowi. "There are no legal objections to the acquisition of Nowi by Nexperia," Economic Affairs Minister Micky Adriaansens said in a letter to parliament. Nexperia, owned by China's Wingtech (600745.SS), bought Nowi, which has around 40 employees, for an undisclosed sum in 2022. But the Dutch government decided to vet the deal retroactively in May 2023 after it established a new office to review foreign takeovers of potentially sensitive technologies. Reporting by Charlotte Van Campenhout and Benoit Van Overstraeten; Editing by Jan Harvey and Mark PorterOur Standards: The Thomson Reuters Trust Principles.
Persons: Micky Adriaansens, China's Wingtech, Charlotte Van Campenhout, Benoit Van Overstraeten, Jan Harvey, Mark Porter Organizations: Economic, Thomson Locations: AMSTERDAM, Delft
While high interest rates have boosted the banks' lending margins, residential mortgages, auto loans and commercial real estate loans have slowed as consumers and businesses pulled back. With interest rates forecast to remain high, renewal of the mortgages will squeeze household budgets. Banks are also rethinking lending to industries sensitive to high interest rates, from condo development to office space. "We want to make sure we have some kind of confidence when a project is going to go ahead," said Victoria Girardo, Canadian Western Bank's (CWB.TO) VP in real estate lending. "That is creating liquidity issues across the real estate developer space.
Persons: Carlos Osorio, Ebrahim Poonawala, Mike Rizvanovic, Rizvanovic, Banks, Victoria Girardo, Nigel D'Souza, Nivedita Balu, Mark Porter Organizations: Bank of Montreal, REUTERS, Rights TORONTO, U.S, National Bank, Bank, Veritas Investment Research, Thomson Locations: Toronto , Ontario, Canada, Toronto
"We hoped and prayed today would come," Liz Hirsh Naftali and Noa Naftali, Edan's great aunt and cousin, said in a statement, thanking Biden and the Qatari government for their work in getting Abigail released. Her siblings were already there, Noa Naftali said, and the family can provide "the love and support that they need after losing their parents." According to Noa Naftali, Abigail had been held captive in Gaza with neighbors also taken from the Kfar Aza kibbutz, where the toddler, her parents and her siblings lived. Biden said he expects Hamas to release other U.S. hostages as well, and that he wants the pause in the fighting to be extended as long as prisoners are being released. "We will not stop working until every hostage is returned to their loved ones," Biden said.
Persons: Amir Cohen, Joe Biden, Abigail Edan, Abigail, Israel, Biden, Liz Hirsh Naftali, Noa Naftali, Edan's, Carmel Edan, he's, Aza, , Judith Tai Raanan, Natalie, Benjamin Netanyahu, Jeff Mason, Andy Sullivan, Moira Warburton, Jason Lange, Steve Gorman, David Goodman, Alexander Smith, Mark Porter, Josie Kao Organizations: Palestinian, Hamas, REUTERS, Rights, CBS, Qatari, Reuters, Sunday, Thomson Locations: Gaza, Ofakim, Israel, Rights NANTUCKET , Massachusetts, Israeli, Palestinian, United States, Nantucket, Washington, Buffalo , NY
The expansion of the Canadian government-owned Trans Mountain oil pipeline advanced to a new construction stage, in Acheson, Alberta, Canada December 3, 2019. REUTERS/Candace Elliott/File Photo Acquire Licensing RightsNov 24 (Reuters) - The Canada Energy Regulator (CER) has ordered the company building the Trans Mountain oil pipeline expansion (TMX) to appear at an oral hearing on Monday, as the regulator weighs whether to approve a variance request from the project. Trans Mountain had asked the regulator to make a decision on the variance request by Nov. 30 to "advance the timely completion" of the expansion project. In September, the CER approved a route deviation request from TMX for a section of pipeline near Kamloops, despite opposition from local Indigenous groups. The CER said no other parties had expressed concern about TMX's latest variance request.
Persons: Candace Elliott, TMX, Nia Williams, Mark Porter, Leslie Adler Organizations: Canadian, REUTERS, Canada Energy Regulator, Trans Mountain Corp, Thomson Locations: Acheson , Alberta, Canada, Hope, Chilliwack, British Columbia, Calgary, Alberta, Coast, Abbotsford, TMX, Kamloops
[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.
Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru
The ruling, which will likely be appealed, could set up the next voting rights battle at the U.S. Supreme Court. The vast majority of Voting Rights Act cases are filed by private parties. For instance, the case that prompted the Supreme Court earlier this year to strike down Alabama's congressional map was originally filed by a coalition of civil rights groups. In a dissent, Chief Judge Lavenski Smith, also a Bush appointee, said he would have followed existing precedent unless Congress or the Supreme Court said otherwise. Sophia Lin Lakin, the director of the American Civil Liberties Union's voting rights project and a lawyer for the plaintiffs, in a statement called the ruling a "travesty for democracy."
Persons: Shannon Stapleton, District Judge Lee Rudofsky, Donald Trump, David Stras, Raymond Gruender, George W, Bush, Judge Lavenski Smith, Sophia Lin Lakin, Joseph Ax, David Gregorio, Mark Porter Organizations: REUTERS, Firms American Civil Liberties, ., U.S, Supreme, District, Appeals, Trump, Circuit, Republican, American Civil Liberties, Thomson Locations: Queens, New York City, U.S, Arkansas
[1/5] The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. Israel on Sunday said the Houthis had seized a British-owned, Japanese-operated cargo ship in the southern Red Sea, describing the incident as an "Iranian act of terrorism" with consequences for international maritime security. The Houthis, an ally of Tehran, confirmed that they had seized a ship in that area but described it as Israeli. The Glovis Star drifted for a number of hours in the Red Sea before continuing its journey, AIS ship tracking data showed on Monday. Houthi leadership last week said their forces would make further attacks on Israel and they could target Israeli ships in the Red Sea and the Bab al-Mandeb Strait.
Persons: Yemen's Houthis, Ray Car, Ambrey, Hermes, Isaac Herzog, Jonathan Saul, Mark Porter, Christina Fincher Organizations: Galaxy Leader, Houthi Military, REUTERS Acquire, Sunday, Nippon, Galaxy, Ray, Ray Car Carriers, Glovis, Hermes, AIS, Galaxy Maritime Ltd, Thomson Locations: Red, Gulf, Aden, Israel, British, Tehran, Japan, Saudi, Omani, Nishtun, Yemen, Sri Lanka, Mandeb Strait . U.S, Hodeidah
Traders now see Fed starting rate cuts later in 2024
  + stars: | 2023-11-09 | by ( )   time to read: 1 min
Nov 9 - Traders of futures contracts that track expectations for the Federal Reserve's policy rate pushed out bets on the U.S. central bank's likely first interest-rate cut to June of next year, after Fed Chair Jerome Powell said he was not yet convinced rates are "sufficiently restrictive." The contracts had earlier priced the Fed's first rate cut as more likely than not in May. Traders still are overwhelmingly betting against another Fed interest-rate hike, although prices after Powell spoke reflected a slight bump up in the probability seen of a rate hike in December or January. Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.
Persons: Jerome Powell, Powell, Mark Porter Organizations: Federal, U.S, Traders, Thomson
A NIO ET5 car model and the NIO EP9 sports car are pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsCompanies NIO Inc FollowNov 9 (Reuters) - Chinese automaker Nio (9866.HK) is still "debating" a 2025 entry in North America, a top executive said on Thursday. Speaking at Reuters Events Automotive USA 2023 conference, Ganesh Iyer, chief executive officer of Nio USA, said the company is considering "any kind of partnerships" in North America. Nio also needs to build infrastructure before bringing electric vehicles to North America, he said. Nio sees an "immersive user experience" as a differentiator for the brand, Iyer said.
Persons: Annegret, Ganesh Iyer, Nio, Iyer, Paul Lienert, Mark Porter Organizations: REUTERS, Automotive, Nio, Thomson Locations: Berlin, Germany, HK, North America, Nio USA, Detroit
[1/2] Climate protesters interrupt an event with Federal Reserve Chair Jerome Powell at the International Monetary Fund, in Washington, DC, U.S., November 9, 2023. REUTERS/Howard Schneider Acquire Licensing RightsCompanies International Monetary Fund FollowNov 9 (Reuters) - Climate activists on Thursday took over a stage inside the secured headquarters of the International Monetary Fund where Federal Reserve Chair Jerome Powell and Israeli central bank Governor Amir Yaron were speaking at a research conference. "End fossil finance," the protesters shouted as Powell was ushered off the stage by security. It was the second time in weeks that an event attended by the Fed chief was disrupted by climate activists. A group took over the stage at an event featuring Powell in New York on Oct. 24.
Persons: Jerome Powell, Howard Schneider, Amir Yaron, Powell, Yaron, Powell's, Spokespeople, Ann Saphir, Mark Porter, Andrea Ricci, Paul Simao Organizations: Federal, International Monetary Fund, REUTERS, International Monetary, Fed, IMF, Thomson Locations: Washington , DC, Israeli, New York
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