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☆ US opens probe into 73,000 Chevrolet Volt cars over loss of power
▼ + stars: | 2023-12-01 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

A Chevrolet Volt plug-in hybrid vehicle is being charged at Stewart Chevrolet in Colma, California, U.S., October 3, 2017. REUTERS/Stephen Lam/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues. The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the Battery Energy Control Module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Another owner reported the Volt would not drive more than over 35 miles per hour on the highway "and it stops driving on electricity randomly."

Persons: Stewart, Stephen Lam, David Shepardson, Susan Fenton, Sharon Singleton Organizations: Chevrolet, Stewart Chevrolet, REUTERS, Rights, Traffic Safety Administration, Battery Energy Control, General Motors, NHTSA, GM, Thomson Locations: Colma , California, U.S, Los Angeles

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan attends the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 1, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsDUBAI, Dec 1 (Reuters) - United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday the establishment of a $30 billion climate fund that aims to attract $250 billion of investment by the end of the decade. Dubbed ALTÉRRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. ALTÉRRA has also committed to invest $2 billion into its second Brookfield Global Transition Fund. ALTÉRRA was established by Lunate, a newly set up Abu Dhabi-based alternative investment manager with over $50 billion in assets.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Amr Alfiky, Sheikh Mohammed Bin Zayed Al Nahyan, ALTÉRRA, BlackRock, Abu, Sheikh Tahnoon bin Zayed Al Nahyan, William James, Nadine Awadalla, Al Sayegh, Tommy Reggiori Wilkes, Susan Fenton, Sharon Singleton, Miral Organizations: United, United Nations, Change, United Arab Emirates, REUTERS, Rights, BlackRock, TPG, Brookfield Asset Management, Transition, Lunate, Chimera Investment, Reuters, Thomson Locations: United Arab Emirates, Dubai, United Arab, COP28, Brookfield, Abu Dhabi, UAE

☆ Swedish property firms should cut debt, raise equity, Riksbank chief says
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

Commercial property companies ramped up borrowing when rates were low and some are now struggling to pay off or roll-over debt after eight interest rate hikes by the central bank. Thedeen said many companies in the commercial real estate sector needed to restructure their balance sheets. Even if rates have peaked, problems for the commercial real estate sector are not over. Short-dated debt and large refunding needs mean "the Swedish property sector has more risk" than in other European countries, Maria Gillholm, senior credit officer at Moody's, said. The commercial real estate sector triggered a financial crisis in Sweden in the early 1990s and authorities have said it is once again the biggest risk to financial stability.

Persons: Erik Thedeen, Jonas Ekstromer, Thedeen, It's, Riksbank, Moody's, Maria Gillholm, Simon Johnson, Terje Solsvik, Essi Lehto, Susan Fenton Organizations: TT, Agency, Rights, Moody's, Thomson Locations: Stockholm, Sweden, Swedish, Europe

☆ Russian lender Sovcombank eyes valuation of up to $2.5 bln post-IPO
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

A view shows a board with the logo of Sovcombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov Acquire Licensing RightsMOSCOW, Dec 1 (Reuters) - Russian lender Sovcombank said on Friday it expects a market capitalisation of 200-219 billion roubles ($2.24-$2.46 billion)after its initial public offering (IPO) on Moscow Exchange later this month, the latest in a small flurry of Russian market debuts. Sovcombank said it has already received offers for half of the expected overall offer size from a number of major Russian institutional investors to participate in the IPO. Russian companies have raised around 29 billion roubles this year through IPOs, with listings characterised by small volumes and the presence of domestic retail investors. Pawn broker Mosgorlombard also announced its intention to list on Friday, expecting a free float of 36% after an early-December debut.

Persons: Maxim Shemetov, Sovcombank, Dmitry Gusev, Mosgorlombard, Elena Fabrichnaya, Alexander Marrow, Guy Faulconbridge, Susan Fenton Organizations: St ., Economic, REUTERS, Rights, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Moscow, Ukraine, IPOs

DUBAI, Dec 1 (Reuters) - A member of the main advisory board of the COP28 climate summit resigned on Friday over reports that the UAE presidency used the meeting to secure new oil, gas deals, according to her resignation letter seen by Reuters. Hilda Heine, former president of the low-lying, climate vulnerable Marshall Islands, said reports that the UAE planned to discuss possible natural gas and other commercial deals ahead of U.N. climate talks were "deeply disappointing" and threatened to undermine the credibility of the multilateral negotiation process. "These actions undermine the integrity of the COP presidency and the process as a whole," Heiner wrote in the letter she sent to COP President Sultan al-Jaber. She added that the only way for Jaber to restore trust in the process was to "deliver an outcome that demonstrates that you are committed to phasing out fossil fuels." Reporting by Valerie Volcovici; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Hilda Heine, Heiner, Sultan al, Jaber, Valerie Volcovici, Susan Fenton Organizations: Reuters, Thomson Locations: DUBAI, UAE, Marshall, U.N

☆ Euro zone inflation dents euro, dollar rises from three-month low
▼ + stars: | 2023-11-30 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. Consumer price growth in the 20 nations that share the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for a fall to 2.7%. The euro dropped as much as 0.5% against the dollar to $1.0910. The Japanese currency has firmed almost 3% against the dollar in November and is on course for its strongest month this year. Sterling was last at $1.2646, down 0.39% on the day, while the Australian dollar fell 0.1% to $0.6610.

Persons: David Gray, Matthew Landon, disinflation, Landon, ECB policymaker Fabio Panetta, Mohamad Al, Jerome Powell, Christopher Waller, Christopher Wong, Toyoaki Nakamura, Sterling, It's, Samuel Indyk, Ankur Banerjee, Vidya Ranganathan, Kim Coghill, Miral Fahmy, Susan Fenton Organizations: New Zealand, REUTERS, European Central Bank, Morgan Private Bank, ECB, ECB policymaker, Danske Bank, Bank of Japan, Thomson Locations: States, Europe, U.S, London, Singapore

☆ Italy's competition watchdog stops Intesa moving clients to mobile bank
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

Intesa Sanpaolo bank logo and stock graph are seen displayed in this illustration taken, May 3, 2022. Italy's AGCM antitrust authority opened a probe earlier this month into the way Intesa was transferring clients to Isybank after a raft of complaints which the watchdog said had now reached 5,000. It wants Intesa to only move clients who explicitly give their consent. Isybank targets 4 million Intesa customers under 65 who only access their banking services remotely. The group migrated the first 300,000 Intesa account holders in October and plans to shift another 2 million in March.

Persons: Dado Ruvic, Intesa, AGCM, Carlo Messina, Antonio Valitutti, Isybank, Valentina Za, Giulia Segreti, Christina Fincher, Jane Merriman, Susan Fenton Organizations: REUTERS, Bank of Italy, European Central Bank, Thomson Locations: Italy

Helping these countries, which face some of the biggest risks from climate change, access these will be a key aim during the COP28 climate talks underway in Dubai. Ambitions for results at COP28 got off to a good start on the opening day on Thursday when countries approved plans for the climate disaster fund, after months of negotiations. About 60% of low-income countries are either in or at high risk of debt distress, the CDP said. The Central Asia Regional Economic Cooperation Program, for example, aims to agree a disaster relief bond issuance and a regional risk transfer facility, the ADB's Principal Disaster Risk Insurance and Finance Specialist, Thomas Kessler, told Reuters. "We are ready to scale up climate protection through early warning systems, anticipatory cash, climate insurance and community-based resilience projects," said Gernot Laganda, director of Climate and Disaster Risk Reduction at the United Nations World Food Programme.

Persons: COP28, Ekhosuehi Iyahen, IDF's Iyahen, Michèle Plichta, Lydia Poole, Odile Renaud, Basso, Thomas Kessler, Otis, Gernot Laganda, Alessandro Parodi, Simon Jessop, Libby George, Karin Strohecker, Susan Fenton Organizations: Insurance, Forum, PAF, Disaster, European Bank for Reconstruction, Global, Swiss, Central Asia Regional Economic Cooperation, Finance, Reuters, UN, University of Cambridge's Institute for Sustainability Leadership, United Nations, Food, Thomson Locations: GDANSK, LONDON, Dubai, London, Mexico

The sources said the UAE would provide the bulk of the money and private equity firm TPG and infrastructure investor Brookfield would also be involved. Two sources said the money would be overseen by UAE-backed investor Lunate Capital. A view of Dubai's Expo City during the United Nations Climate Change Conference (COP28) Climate Summit in Dubai, United Arab Emirates, November 30, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsA second source said BlackRock, TPG and Brookfield would allocate money currently housed in other funds to the UAE fund and that talks over the fund began after the summer and carried on through October. Additional reporting by Andres Gonzales, Anousha Sakoui and Elisa Martinuzzi in London Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Lunate, Amr Alfiky, Andres Gonzales, Anousha Sakoui, Elisa Martinuzzi, Susan Fenton Organizations: Lunate, BlackRock, TPG, Brookfield, United, Reuters, Lunate Capital, Financial Times, Dubai's, United Nations, Change, United Arab Emirates, REUTERS, UAE, COP28, Thomson Locations: UAE, DUBAI, United Arab Emirates, Dubai, United Arab, BlackRock, Brookfield, London

☆ CD Projekt's third-quarter profit doubles after 'Phantom Liberty' release
▼ + stars: | 2023-11-28 | by ( Adrianna Ebert | ) www.reuters.com time to read: +2 min

GDANSK, Nov 28 (Reuters) - Video games developer CD Projekt's (CDR.WA) third-quarter net profit doubled from a year earlier, it said on Tuesday, following strong demand for "Phantom Liberty", the long-awaited expansion to the company's flagship game "Cyberpunk 2077". "Phantom Liberty", the Polish company's first major new game in nearly three years, was released on Sept. 26 and had sold over 4.3 million copies within two months. The company reported a net profit of 202.9 million zlotys ($51.54 million) for the third quarter, beating the 162 million zlotys expected by analysts and up 105% from a year earlier. Revenue for the period rose 80% year on year to 442.7 million zlotys, it said. "We are very pleased with the launch of Phantom Liberty.

Persons: Adam Kicinski, Michal Nowakowski, Kicinski, Nowakowski, we're, Adrianna Ebert, Anna Pruchnicka, David Goodman, Susan Fenton, SDharon Singleton Organizations: Revenue, Liberty, Polaris, Thomson Locations: GDANSK, Polish

☆ Exclusive: European fund giant Amundi dips toe back into Turkey's lira
▼ + stars: | 2023-11-28 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

A logo of Amundi is seen outside the company headquarters in Paris, France, February 3, 2023. "We have started to cover our underweight in Turkish lira a few weeks ago," Strigo told Reuters, referring to the process of taking a more positive view on the currency. Amundi, while the first major fund to formally declare its shift, is not alone in testing the waters, according to other foreign investors and bankers. "It is probably the easiest way for now," Strigo said about the use of FX forwards to express that balance. With the bank having lifted rates to 40% from 8.5% since June, Amundi thinks another hike next month could finish the job.

Persons: Sarah Meyssonnier, Sergei Strigo, Amundi's, Strigo, Tayyip Erdogan, Amundi, Goldman Sachs, Erdogan, sceptics, Central Bank Governor Hafize Gaye Erkan, Marc Jones, Karin Strohecker, Jonathan Spicer, Susan Fenton Organizations: REUTERS, Reuters, Investment, JPMorgan, FX, Graphics, Central Bank Governor, Reuters Graphics Reuters, Thomson Locations: Paris, France, Turkey, Turkish, New York, London, Istanbul

☆ Congo opposition party says activist killed in violence at election rally
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arlette Bashizi/File Photo Acquire Licensing RightsKINSHASA, Nov 28 (Reuters) - A Congolese youth activist was killed on Tuesday by stones pelted during an opposition campaign rally in the east-central city of Kindu, the party of presidential candidate Moise Katumbi said. "This violence ... caused the tragic death of Mr Dido Kakisingi," the party said in a statement. Kakisingi, a lawyer and father of six, was the head of a political youth league in Maniema province that supports Katumbi, the party said. They didn't even send the police to secure us," said Seth Kikuni, one of the opposition candidates backing Katumbi. The CENI election commission has promised a fair and well-run election, but all of the opposition candidates have expressed concerns about potential electoral fraud.

Persons: Moise Katumbi, Arlette, Mr Dido Kakisingi, Seth Kikuni, Stephane Kamundala, Felix Tshisekedi, Katumbi, Martin Fayulu, Denis Mukwege, Ange Kasongo, Sonia Rolley, Alessandra Prentice, Susan Fenton Organizations: Democratic, REUTERS, Rights, Congolese, United, Reuters, Peace, Thomson Locations: Kitutu, Mwenga, South Kivu province, Democratic Republic of, Congo, Rights KINSHASA, Kindu, Maniema, Africa's, United States

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, Nov 28 (Reuters) - OPEC+ talks on 2024 oil policy are difficult, making a rollover of the previous agreement a possibility rather than deeper production cuts, four OPEC+ sources said on Tuesday. Two of the sources said an additional cut - a step that sources have said would be looked at - was not being actively discussed. OPEC+ sources said this was because of a disagreement over output levels for African producers, though sources have since said the group has moved closer to a compromise on this point. OPEC's previous meeting in June had already extended output cuts into 2024.

Persons: Leonhard Foeger, Brent, Maha El Dahan, Ahmad Ghaddar, Olesya, Alex Lawler, Kirsten Donovan, Susan Fenton, David Goodman Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Saudi Arabia, Saudi

The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsMUMBAI, Nov 28 (Reuters) - Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato (ZOMT.NS) for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. In October, Japan's SoftBank (9984.T) sold a 1.1% stake in Zomato, which is India's biggest food delivery service. In August, China's Antfin sold a 10.3% stake in Indian financial giant Paytm (PAYT.NS).

Persons: Florence Lo, Morgan Stanley, Alipay, Japan's SoftBank, China's Antfin, Sriram, Aditya Kalra, Susan Fenton Organizations: REUTERS, Rights, Ant Group, Reuters, Bank of America, Tech, Thomson Locations: Rights MUMBAI, Zomato

☆ Polish truckers start round-the-clock blockade of fourth Ukrainian border crossing
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/2] FILE PHOTO:Ukrainian trucks are parked near the Poland-Ukraine border, near the village of Korczowa, Poland November 19, 2023. Polish truckers have already been blocking access to three other border crossings since Nov. 6, demanding that the European Union reintroduce a permit system for Ukrainian truckers entering the bloc and for EU truckers entering Ukraine, with exemptions for humanitarian aid and military supplies. The current waiting time for trucks to cross at Medyka, one of eight road border crossings with Ukraine, is 127 hours according to data from the Polish border guard. In Medyka truckers are joining a protest organised by farmers who are demanding that government support to help them deal with low grain prices be continued. Two trucks per hour are being let through at Medyka, the protesters say, with exemptions for humanitarian aid and war supplies.

Persons: Yan, Tomasz Borkowski, Karol Badohal, Alan Charlish, Susan Fenton Organizations: REUTERS, Rights, European Union, Transport Employers, Ukraine's Infrastructure Ministry, Thomson Locations: Poland, Ukraine, Korczowa, Polish, European, Russia, Russian, Medyka

☆ Polish Truckers Start Round-The-Clock Blockade of Fourth Ukrainian Border Crossing
▼ + stars: | 2023-11-27 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

WARSAW (Reuters) - Polish truckers and farmers started a round-the-clock blockade of access on Monday to Medyka, one of the busiest border crossings with Ukraine, extending a protest that has left thousand of lorries stranded for days in queues that stretch for miles. Polish truckers have already been blocking access to three other border crossings since Nov. 6, demanding that the European Union reintroduce a permit system for Ukrainian truckers entering the bloc and for EU truckers entering Ukraine, with exemptions for humanitarian aid and military supplies. The current waiting time for trucks to cross at Medyka, one of eight road border crossings with Ukraine, is 127 hours according to data from the Polish border guard. In Medyka truckers are joining a protest organised by farmers who are demanding that government support to help them deal with low grain prices be continued. Two trucks per hour are being let through at Medyka, the protesters say, with exemptions for humanitarian aid and war supplies.

Persons: Tomasz Borkowski, Karol Badohal, Alan Charlish, Susan Fenton Organizations: European Union, Transport Employers, Ukraine's Infrastructure Ministry Locations: WARSAW, Ukraine, Polish, European, Russia, Russian, Poland, Medyka

Oil futures traded steady ahead of next week's OPEC+ meeting, which could bring some kind of agreement on output cuts in 2024. Gold futures finished higher as the dollar index slipped against a basket of currencies on Friday. Germany's 10-year government bond yield , the benchmark for the euro area, rose 3 basis points to a 1-1/2-week high. Oil prices were steady after tumbling more than 1% on concerns over a delayed OPEC+ meeting. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Chris Prentice in New York, Naomi Rovnick in London and Stella Qiu in Sydney.

Persons: Caitlin Ochs, Germany's DAX, Peter Doherty, Arbuthnot Latham, Robert Holzmann, Pierre Wunsch, Chris Prentice, Naomi Rovnick, Stella Qiu, Toby Chopra, Susan Fenton, Mark Potter, Deepa Babington Organizations: New York Stock Exchange, REUTERS, U.S, Dow Jones, Nasdaq, Hamas, P Global, European Central Bank, ECB, Bank of England, Japan's Nikkei, China's CSI, Brent, Thomson Locations: New York City, U.S, OPEC, Germany, Israel, London, Belgian, Asia, New York, Sydney

☆ ECB chief Lagarde admits her son lost crypto cash
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

European Central Bank President Christine Lagarde addresses the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium March 20, 2023. REUTERS/Johanna Geron//File Photo Acquire Licensing RightsFRANKFURT, Nov 24 (Reuters) - No one is a prophet in their own land, including European Central Bank President Christine Lagarde, who admitted on Friday that her son lost "almost all" of his investments in crypto assets, despite copious warnings. Lagarde has long railed against cryptocurrencies, calling them speculative, worthless and a tool often used by criminals for illicit activity. "It wasn't a lot but he lost it all, he lost about 60% of it," Lagarde added. The ECB chief has two sons in their mid-30s but did not say which one she was referring to.

Persons: Christine Lagarde, Johanna Geron, Lagarde, cryptocurrencies, Balazs Koranyi, Susan Fenton Organizations: European Central Bank, Parliament's, Economic, Monetary Affairs, REUTERS, Rights, ECB, Thomson Locations: Brussels, Belgium, Frankfurt

Photographers take photos near a large screen showing stock prices at the Tokyo Stock Exchange (TSE) after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsLONDON/SYDNEY, Nov 24 (Reuters) - Global shares drifted on Friday in the absence of guidance from Wall Street, which was closed for the Thanksgiving holiday the previous day, but they were still on course for their best month since November 2020. An indecisive Asia session extended to Europe, with the Stoxx 600 share index (.STOXX) trading flat. Despite optimism having surged across global markets this month, there may also be a lull ahead as investors position their portfolios for 2024, some analysts said. Minutes from the latest Fed policy meeting signalled there would not be more hikes unless progress against taming inflation faltered.

Persons: Kim Kyung, Peter Doherty, Arbuthnot Latham, Shane Oliver, Naomi Rovnick, Stella Qiu, Sam Holmes, Robert Birsel, Toby Chopra, Susan Fenton Organizations: Tokyo Stock Exchange, REUTERS, Global, Wall, Nasdaq, Hamas, AMP, European Central Bank, ECB, Bank of England, Japan's Nikkei, China's CSI, Brent, Thomson Locations: Tokyo, Japan, SYDNEY, Asia, Europe, Israel, U.S, London, OPEC

Nvidia is the world's largest maker of chips used both for artificial intelligence and for computer graphics. Demand for its chips jumped following the release of the generative AI application ChatGPT late last year. Its graphics cards (GPUs) are high-performance devices that enable powerful graphics rendering and processing for use in video editing, video gaming and other complex computing operations. The French watchdog raided Nvidia's local office in September, a person familiar with the matter had told Reuters. Separately, Nvidia has delayed the launch of a new China-focused AI chip, two sources familiar with the matter told Reuters.

Persons: Foo Yun Chee, Susan Fenton Organizations: Regulators, European Union, Nvidia, French Competition Authority, Reuters, Thomson Locations: BRUSSELS, China, France, U.S, California

☆ Dutch parties position for tough coalition talks after Wilders' shock poll win
▼ + stars: | 2023-11-24 | by ( Tosterling Bart H. Meijer | Bart H. Meijer | ) www.reuters.com time to read: +4 min

[1/6] Dutch parties' lead candidates meet for the first time after elections, in which far-right politician Geert Wilders booked major gains, to begin coalition talks in The Hague, Netherlands, November 24, 2023. In a foretaste of how difficult coalition building talks may prove after Wednesday's election, outgoing Prime Minister Mark Rutte's conservative VVD Party on Friday ruled out joining a cabinet led by Wilders' Freedom Party (PVV). Wilders' election win led to protests in several cities. Wilders named Gom van Strien, a member of his own party in the Dutch Senate, as scout. Should Wilders' efforts eventually fail, other parties could try to build a more centrist coalition without him.

Persons: Geert Wilders, de Wouw, right's Wilders, Wilders, Mark Rutte's, Dilan Yesilgoz, Gom van Strien, Pieter Omtzigt, Caroline van der Plas, wouldn't, Van Strien, Van Strien's, Toby Sterling, Bart Meijer, Ingrid Melander, Nick Macfie, Toby Chopra, Susan Fenton Organizations: REUTERS, Party, AMSTERDAM, Freedom Party, EU, Labour, Green, Greenpeace, Dutch Senate, New, European Union, Farmer, Citizen Movement, Thomson Locations: The Hague, Netherlands, Dutch

☆ Swedish union blocks Tesla components as dispute intensifies
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +3 min

Around 50 workers that make specialized Tesla components at Hydro Extrusions, a subsidiary of Norwegian aluminium and energy company Hydro, will either stay at home or be given other tasks from Friday until further notice, the IF Metall union said. IF Metall, Sweden's biggest manufacturing union, is locked in a fight with Tesla to get a collective bargaining agreement for its 130 mechanics in Sweden. The U.S. carmaker has a policy to not sign collective bargaining agreements and says its employees have as good or better terms than what the Swedish union is demanding. The union says it is vital to the Swedish labour market model that all companies have collective agreements. Around 90% of all employees in Sweden are covered by collective bargaining agreements, which regulates wages, vacation, overtime pay and other conditions.

Persons: Veli, Pekka Saikkala, Tesla, Metall, Saikkala, carmaker, Torbjorn Johansson, Elon, Johansson, Johan Ahlander, Marie, Victoria Waldersee, Susan Fenton Organizations: Tesla, Hydro Extrusions, Hydro, IF Metall, Metall, LO, Marie Mannes, Thomson Locations: Berlin, Europe, Sweden, U.S, Stockholm, Victoria

☆ Almost 400,000 deaths in Europe in 2021 attributable to filthy air -EU report
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Pollution from nitrogen dioxide (NO2), most harmful to people with diabetes, resulted in 52,000 deaths and short-term ozone (O3) exposure led to 22,000 deaths. Including a larger set of European countries outside the EU, there were 389,000 pollutant-related deaths in Europe, the EEA said in its report for 2021, released on Friday. "Air pollutant concentrations in 2021 remained well above the levels recommended by the World Health Organization (WHO) in its air quality guidelines," the EEA said in the report. "Reducing air pollution to these guideline levels would prevent a significant number of attributable deaths in EU member states." NO2 and short-term O3 exposure had the biggest impact on deaths in Turkey, Italy and Germany, according to the report.

Persons: Flavio Lo Scalzo, Piotr Lipinski, Susan Fenton Organizations: Allianz, REUTERS, Rights, World Health, European Environment Agency, European Union, World Health Organization, WHO, Thomson Locations: Milan, Italy, Rights BRUSSELS, Europe, PM2.5, Poland, Germany, Iceland, Scandinavia, Estonia, Turkey

☆ Exclusive: Greek shippers exit Russian oil trade as U.S. tightens price cap scrutiny
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsMOSCOW/LONDON, Nov 23 (Reuters) - Three major Greek shipping firms have stopped transporting Russian oil in recent weeks in order to avoid U.S. sanctions now being imposed on some shipping firms carrying Russian oil, four traders told Reuters and shipping data showed. Greek shippers Minerva Marine, Thenamaris and TMS Tankers have stopped transporting Russia oil in recent weeks, the four traders said. The Greek shippers' exit from the trade followed tighter U.S. sanctions imposed on Russian oil shipments. The G7 countries introduced a price cap on Russian oil in late 2022, but had not previously enforced it. Russian oil trade has brought record revenues over the past year to the shippers who took the risk and stayed in the business.

Persons: Tatiana Meel, Thenamaris, Minerva, Jonathan Saul, Dmitry Zhdannikov, Eleftherios Papadimas, Susan Fenton Organizations: Nord, REUTERS, Minerva, TMS, Minerva Marine, Reuters, United Arab Emirates, Treasury, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, LONDON, Asia, Turkey, East, Africa, South America, Moscow, Washington, OPEC, U.S, Baltic, India, Primorsk, Ust, Iran, Europe, UAE, Hong Kong, Seychelles, Ghana, Liberia, Cook, London, Athens

☆ VIEW Turkey central bank ramps up interest rates to 40%
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. Below reaction from analysts to the decision:LIAM PEACH, CAPITAL ECONOMICS, LONDON"(Turkey's central bank) suggested that it is very close to the end of the tightening cycle. For the central bank to have any chance of achieving single digit inflation this decade, rates will need to stay at this level for some time." BARTOSZ SAWICKI, CONOTOXIA FINTECH, WARSAW"In October the annual inflation rate inched lower and external price dynamics have turned a tad more favourable. The risk of a sharp slowdown in activity points to less aggressive continuation of the tightening cycle.

Persons: Cagla, LIAM PEACH, CONOTOXIA, Karin Strohecker, Ezgi, Susan Fenton Organizations: Turkey's Central, REUTERS, Thomson Locations: Ankara, Turkey, CONOTOXIA FINTECH, WARSAW

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