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BERN, Switzerland (AP) — Downhill racer Aleksander Aamodt Kilde dislocated his shoulder in a nasty crash and posted a photograph Sunday with partner Mikaela Shiffrin at his bedside in a hospital in Bern where he had surgery. He's the two-time defending champion in the season-long downhill standings and a two-time medalist at the 2022 Beijing Olympics. It was the third straight day of racing on an unusually intense program at Switzerland’s most storied ski venue. The race program was criticized Saturday by star downhillers Marco Odermatt and Cyprien Sarrazin after organizers scheduled speed races on back-to-back-to-back days on an historically long course. An extra downhill on Thursday was added to the Wengen program to replace a race canceled last month because of the weather at Beaver Creek, Colorado.

Persons: Aleksander Aamodt Kilde, Mikaela Shiffrin, Kilde, ” Kilde, Shiffrin, “ Aleksander, Marc Jacob Strauss, downhillers Marco Odermatt, Cyprien, ”, Odermatt, “, Sarrazin, ___ Organizations: American, International, Snowboard Federation Locations: BERN, Switzerland, Bern, Austria, Swiss, Wengen, Beijing, Norwegian, Creek , Colorado

☆ An heiress is seeking 50 strangers to help her give away her $27 million inheritance
▼ + stars: | 2024-01-13 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Marlene Engelhorn, 31, is set to give away $27 million of her inheritance. She is recruiting 50 strangers to help her distribute the money to worthy causes in Austria. Advertisement"In Austria, the wealthiest one percent hoards up to 50 percent of the net wealth," Engelhorn said, per the Washington Post. Austria abolished inheritance and gift taxes in 2008, while the United States lacks a federal inheritance tax, with only some states imposing such taxes, the Washington Post reports. Wealth taxes are the least we can do to take responsibility.

Persons: Marlene Engelhorn, Friedrich Engelhorn, —, Traudl, Engelhorn, Engehorn Organizations: BASF, Service, Austrian, Good, Daily Mail, Millionaires, Washington Post Locations: Austria, Salzburg, Amsterdam, Washington, United States

☆ The most powerful passport in the world? Six countries tie for top spot
▼ + stars: | 2024-01-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Six countries have earned the title of the most powerful passports in 2024 — with all of them granting visa-free travel to 194 out of 227 destinations. Four EU member states now share crown with Singapore and Japan as the number one passport in the quarterly Henley Passport Index. The two Asian countries have dominated the index in the past five years. In second place are countries like South Korea, Finland and Sweden with visa-free access to 193 destinations. Australia and New Zealand took sixth place, while the U.S. retains its 7th place, according to Henley's rankings.

Organizations: Henley, New Zealand, International Air Transport Authority Locations: Singapore, Japan, Spain, Germany, France, Italy, South Korea, Finland, Sweden, Denmark, Ireland, Netherlands, Austria, Australia, New, U.S

☆ The world’s most powerful passports for 2024
▼ + stars: | 2024-01-10 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

CNN —In a big shakeup of a quarterly ranking of the world’s most powerful passports, an unprecedented six countries are tied in the top spot for the hottest travel documents for 2024. The United States and Canada, meanwhile, are tied in seventh place, along with Hungary, with visa-free access to 188 destinations. “The average number of destinations travelers are able to access visa-free has nearly doubled from 58 in 2006 to 111 in 2024,” says Kaelin. Portugal is at No.4 on the Henley Passport Index and Arton Capital's Passport Index. Arton’s Global Passport Power Rank 2024 puts the United Arab Emirates in the top spot, with a visa-free/visa-on-arrival score of 180.

Persons: Christian, Kaelin, ”, Tamas Gabor, iStockphoto, It’s, Arton Capital’s, Armand Arton, that’s, Arton Organizations: CNN, Henley & Partners, International Air Transport Association, South Korea, United, United Arab Emirates, Henley, United Nations Locations: France, Germany, Italy, Japan, Singapore, Spain, London, Europe, Finland, Sweden, –, Austria, Denmark, Ireland, Netherlands, Belgium, Luxembourg, Norway, Portugal, United Kingdom, Greece, Malta, Switzerland, Australia, New Zealand, Czechia, Poland, United States, Canada, Hungary, United Arab, Afghanistan, Syria, Iraq, Pakistan, Taiwan, Macao, Hong Kong, Kosovo, Palestinian, Territories, Monaco, Albania, South Korea, Czech Republic , New Zealand, Estonia, Lithuania, Latvia, Slovakia, Slovenia, Iceland

☆ The sexiest new hotels for 2024
▼ + stars: | 2024-01-05 | by ( Julia Buckley | ) edition.cnn.com time to read: +23 min

This list tries to do just that – spotlight the hotels opening (or reopening, as one of them is) in 2024 that make us want to visit for the hotel alone. Properties with a little bit of oomph – the sexy hotels of 2024, as we like to call them. For spring 2024, Costa Rica’s on the cards, with this beachfront hotel at surfer central Santa Teresa, on the Pacific Coast. Existing ones have been refurbished, and new pool villas, suites and bungalows have been added to the mix. Pool villas are cute cabins with patio doors opening on the open-to-the-elements plunge pools, while the bungalows will be wood-clad, tropical spaces.

Persons: Will, ”, that’s, King Charles, Maria, Casa Lucia Argentina, swank, Kit Kemp, Kibale, Queen Elizabeth, George, Gran, Palazzo Cordusio, Cordusio, There’s, Emanuele II, Mina Al, Ras, Anantara Mina Al Arab, Ras Al Khaimah, Mina Al Arab, Al Riffa, Mollie's, who’ll, KAI Akiu, Hoshino, Rupert Peace, Michel Rojkind, Moxy Banff, Marie, they’re, Philippe Kjellgren, It’ll, Aman, you’ve, you’ll, Roma, Romeo Roma, Romeo, starchitect Zaha Hadid, Rome’s Piazza, Costa Rica’s Organizations: CNN, Casa Lucia, Bacan, Leinster, Collins, Gran Meliá, Milan, Galleria, Tunisia –, Soho, Manchester TV, Beatles, Granada Studios, Old Granada Studios, Soho House, Resorts, Michelin, Guadalupe, Moxy, VW, Brisbane . Tourism, Queensland, Casa, Hoxton, Popolo, Princeton, Hotels, Ivy League, Mercure, Darwin, Training Academy Locations: Matca, Transylvania, Romania, Romanian, Brașov, Maria, Helsinki, Finland, Buenos Aires, Argentina, Retiro, Dublin, Ireland, Merrion, Georgian Dublin, Uganda, Rwanda, Queen, Edward, Milan, Italy, Meliá, Piazza, Duomo, Ras Al Khaimah, UAE, Arabian, Dubai, Ras Al, Oman, Mina, Al, Tunisia, Douz, Sahara, Matmata, Manchester, Japan, Tokyo, Akiu, Sendai, superlatives, Kempinski, Dresden, Germany, grande, Taschenbergpalais, Baja California, Mexico, Valle, Mexican, Valle de Guadalupe, Canada, Banff, Brisbane, Australia, Brisbane ., Dios, Peru, Casa, Andina, Brazil, Bolivia, Peruvian, Folegandros, Greece, Santorini, –, Hoxton Vienna, Austria, Hoxton, Vienna, Ennismore, Landstrasse, Sainte, Marie, Madagascar, Aman Nai, Bangkok, Thailand, Aman, Nai Lert, Thai capital’s, Rome, Naples, starchitect, New Jersey, Santa Teresa, Costa Rica, Morocco, Coast, Darwin, Larrakia, Northern Territory

☆ The most exciting new trains coming in 2024
▼ + stars: | 2024-01-04 | by ( Ben Jones | ) edition.cnn.com time to read: +13 min

CNN —Around the world, travelers are flocking back to trains, and demand is increasing across the board for high-speed trains, luxury “land cruises” and long-distance day and night trains. Here are some of the best new trains you’ll be able to take in 2024. Laurie Dieffembacq/Belga/AFP/Getty ImagesLinks between two of Europe’s most visited capitals have traditionally been pretty poor, with no direct trains since the 1990s. Ian Clarke/Alamy Stock PhotoFour continents, 13 countries, and seven luxury trains across 80 days – the ultimate experience for rail travel connoisseurs is due to depart in late 2024. BelmondOne of the world’s greatest luxury train journeys is returning to the rails in 2024 after a four-year gap.

Persons: Laurie Dieffembacq, Dimorestudio, Vita ”, Riva Aquarama, itineraries, Jeroen Berends, Gabriel Bouys, it’s, Jesus Hellin, That’s, Trenitalia, Luigi Ferraris, France –, Railbookers, Ian Clarke, we’ve, ”, Frank Marini, Alex Halada, There’s Organizations: CNN, Orient, Getty, ÖBB, Austrian Federal Railways, SNCF, Eurostar, National, Europa Press, French, Renfe, FS, Rocky Mountaineer, Royal, Orient Express, Oriental, ”, Oriental Express, Austrian Railways, Swiss Locations: Swiss, Venice, Paris, Berlin, AFP, Strasbourg, Frankfurt, Italy, Rome, Matera, Palermo, Sicily, Messina, Europe’s, Istanbul, Split, Brussels, Prague, Europe, Dutch, Dresden, Belgian, Roman, Naples, Madrid, Spain, France, Spanish, Barcelona, Lyon, Marseille, Canada, Central Europe, India, South Africa, Eastern, Vancouver, Malaysia, Singapore, Malaysia’s, Kuala Lumpur, Langkawi, Penang, Bangkok, Vienna, Innsbruck, Hamburg, Switzerland, Germany, Zürich, Gornergrat Bahn, Zermatt, Gornergrat, Riffelalp

While the stock market raced toward record highs in late 2023, some hedge funds mounted bets against a myriad of names. Against this backdrop, CNBC Pro screened FactSet data for stocks trading on the New York Stock Exchange and Nasdaq Exchange with the most short interest as of Dec. 15. Lucid Group , another EV maker, also saw a notable short interest increase, to about 27% of its float. Short interest also increased for used car retailer Carvana , climbing more than 7% to 35 million shares, or about 37% of its float. Companies that have continued to see notable short interest since November include plant-based meat producer Beyond Meat and solar energy companies Sunnova Energy and SunPower .

Organizations: CNBC Pro, New York Stock Exchange, Nasdaq Exchange, Lucid Group, Sunnova Energy Locations: U.S, Austria

Yet labour markets are softening, the euro zone faces recession and China's property sector is in crisis. Here's what some closely-watched market indicators say about global recession risks:1/ AMERICAN EXCEPTIONALISM? Britain's economy avoided the start of a recession in the third quarter but still failed to grow. Economists broadly expect the global economy to slow next year but avoid a recession. If supply shocks resulting from the Israel-Hamas war become severe enough to push Brent crude to $150, a level it has never breached, a "mild and fleeting" global recession could result, Oxford Economics reckons.

Persons: Brendan McDermid, Guy Miller, COVID, Zurich Insurance's Miller, Torsten Slok, Austria's, David Katimbo, We've, Brent, Yoruk Bahceli, Dhara Ranasinghe, Naomi Rovnick, Alexandra Hudson Organizations: Wall, REUTERS, Zurich Insurance, Reuters, Traders, U.S . Federal Reserve, ECB, Apollo Global Management, P, Sweden's SBB, HK, Bank of England, Business insolvencies, EdenTree Investment Management, Oxford Economics reckons, Reuters Graphics Reuters, Alexandra Hudson Our, Thomson Locations: New York, U.S, China, Zurich, England, Wales, Europe, Israel

REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - Russian conductor Valery Gergiev, no longer welcome in Western concert halls since Russia's invasion of Ukraine, was named on Friday as director of Moscow's Bolshoi Theatre. After performing for decades on the world's biggest classical stages, Gergiev has been shunned in the West since the start of the war in February 2022. The following month he was fired as chief conductor of the Munich Philharmonic Orchestra after the city's mayor said Gergiev had declined to "clearly and unambiguously" distance himself from the invasion. Gergiev, also a former principal conductor of the London Symphony Orchestra, has long been controversial outside Russia because of his support for President Vladimir Putin. He spoke out in favour of Russia's invasion of Crimea in 2014.

Persons: Valery Gergiev, Lisi Niesner, Gergiev, Vladimir Urin, Urin, Vladimir Putin, Putin, we're, we've, Mark Trevelyan, Kevin Liffey Organizations: Vienna Philharmonic Orchestra, REUTERS, Moscow's Bolshoi Theatre, Mariinsky Theatre, Munich, Orchestra, Bolshoi, London Symphony Orchestra, Islamic, Thomson Locations: Russian, Vienna, Austria, Ukraine, St Petersburg, West, Russia, Crimea, Palmyra, Syria, Islamic State, China

☆ Inside Apple’s chip lab, home to the most ‘profound change’ at the company in decades
▼ + stars: | 2023-12-01 | by ( Katie Tarasov | ) www.cnbc.com time to read: +13 min

Its most advanced silicon is primarily manufactured by one vendor, Taiwan Semiconductor Manufacturing Company. "We built what we call the unified memory architecture that is scalable across products," Srouji said. Apple's silicon team has grown to thousands of engineers working across labs all over the world, including in Israel, Germany, Austria, the U.K. and Japan. The primary type of chip Apple is developing is known as a system on a chip, or SoC. Apple's senior director of hardware validation Godfrey D'Souza shows off an M3 SoC in an Apple chip lab in Cupertino, California, on November 14, 2023.

Persons: John Ternus, Srouji, we're, Katie Tarasov, Andrew Evers, Ben Bajarin, Bajarin, Apple, Apple there's, Pro Max, Kaiann Drance, That's, who's, Ternus, Nvidia —, Tesla, Stacy Rasgon, Apple's, Godfrey D'Souza, Sydney, they've, Rasgon, Apple's Srouji, It's Organizations: AMD, MU, Apple Watch, U.S, Apple, Intel, Taiwan Semiconductor Manufacturing Company, Microsoft, CNBC, Apple's, Amazon, Google, Tesla, Semiconductor, Creative, Pro, Triple, MacBook Air, Qualcomm, Nvidia, Bernstein Research, Sydney Boyo, Bluetooth, Broadcom, Samsung, Micron, Thursday Apple Locations: Cupertino , California, Israel, Germany, Austria, Japan, Silicon Valley, San Diego, Austin , Texas, AirPods, Taiwan, China, Arizona, Peoria , Arizona, Asia, Europe, U.S

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ Jannik Sinner: Why the Carota Boys are ‘finding a lot of love’ for Italian tennis star
▼ + stars: | 2023-12-01 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

CNN —Go to a major tennis tournament and it’s hard to miss the Carota Boys, a team of six men decked in full-body, bright-orange carrot costumes. It’s only over the past seven or so months that the Carota Boys’ love for Sinner has really blossomed, endearing themselves to the tennis public in the process. The conception of the Carota Boys originates with the friends’ tradition of buying tickets for tennis tournaments to celebrate each other’s birthdays. The Carota Boys attend the ATP Tour Finals in Turin, Italy, watching Sinner take on Greece's Stefanos Tsitsipas. “Jannik and all the Carota Boys are born in a place near the mountains.

Persons: Sinner, – Lorenzo Ferrato, Francesco Gaboardi, Gianluca Bertorello, Enrico Ponsi, Alessandro Dedominici, Alberto Mondino –, TIZIANA FABI, Ferrato, Lavazza, Novak Djokovic, “, ” Ferrato, “ Jannik, Clive Brunskill, “ Let’s, let’s, we’ve, Jannik, ”, Valentino Rossi, Max, Michael, Schumacher, Daniil Medvedev, Valerio Pennicino, Carlos Alcaraz, Denmark’s Holger Rune, Djokovic, ” Djokovic, he’s, Sinner’s Organizations: CNN, Carota Boys, ATP, Getty, CNN Sport, Boys, Wimbledon, Davis, ITF Gaboardi, Italy, Australia, “ Locations: Italy, It’s, Turin, Revello, Rome, AFP, Vienna, Austria, Paris, London, New York, Malaga, Spain, Formula

☆ I've spent 120 hours on overnight trains. Booking a private cabin is always worth the extra cost — whether it's $200 or $1,000.
▼ + stars: | 2023-11-30 | by ( Joey Hadden | ) www.businessinsider.com time to read: +4 min

On overnight trains, splurging for a private space is worth the price. In private cabins, travelers get a bed, a sink, a vanity, and sometimes a full bathroom. AdvertisementIf you want to sleep on an overnight train, book a private cabin. But when I've booked private cabins on Amtrak and Nightjet, ranging from $200 to $1,000, I've slept better with no disruptions. So I recommend private cabins to all travelers with rolling luggage, a nighttime routine, or a desire to sleep well.

Persons: I've, —, Joey Hadden Organizations: Service, OBB Nightjet, OBB, Amtrak Locations: Berlin, Vienna, Austria, Venice, Italy, Miami

☆ Oil kingpin Saudi Arabia extends its production cut into first quarter as OPEC+ holds policy
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. The OPEC+ alliance had already instituted a 2 million barrel per day cut in place until the end of 2024, with several coalition members voluntarily pledging a further 1.66 million barrel per day decline over that same period. While OPEC+ has not formally endorsed production reductions, market participants are following the possibility of further voluntary cuts announced by key participants to the coalition. Close Saudi ally Kuwait will enforce a 135,000 barrel per day reduction in the first quarter, while the Energy Ministry of OPEC member Algeria said it would trim a further 51,000 barrels per day. Oman said it will also reduce output by 42,000 barrels per day in that same period.

Persons: Alexander Novak Organizations: Organization of, Petroleum, of, OPEC, Energy Ministry Locations: Vienna, Austria, OPEC, Saudi Arabia, Nigeria, Angola, Congo, Saudi, Riyadh, Moscow, Kuwait, Algeria, Oman

☆ He Bought a Piece of the Chrysler Building. Now His Empire Is Falling Apart.
▼ + stars: | 2023-11-29 | by ( Eliot Brown | Margot Patrick | ) www.wsj.com time to read: 1 min

René Benko’s company Signa is filing for insolvency, casting uncertainty over a property empire that includes a stake in upscale British retailer Selfridges. Photo: georg hochmuth/Agence France-Presse/Getty ImagesThe property slump sweeping the globe has claimed a new high-profile victim: René Benko, an Austrian-born retail and department-store magnate who also co-owns New York’s Chrysler Building. Benko’s main holding company, Signa Holding, said Wednesday it is filing for insolvency in Austria. The move, similar to U.S. bankruptcy procedure, puts billions of dollars of company debt at risk and casts uncertainty over a property empire that includes stakes in the largest department store chains in Europe, upscale British retailer Selfridges and a now-stalled Hamburg tower that would have been among the tallest in Germany.

Persons: René, Signa, georg hochmuth Organizations: Selfridges, Agence France, Chrysler, Signa Locations: Austrian, Austria, Europe, Hamburg, Germany

☆ Morning Bid: Waller to Wall St, Fed's on the turn
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +6 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. But back in the markets, the Fed's policy pivot was all the rage as Treasury yields and dollar plunged anew. New York Fed chief John Williams said long-term inflation expectations were anchored, reassuring and "remarkably stable". Fed futures now have the first Fed rate cut of a quarter point fully priced for May and 110bps of rate cuts by year-end. Two-year Treasury yields plunged more than 15 basis points to four-month lows of 4.66% on Wednesday, with 10-year yields hitting their lowest since mid-September - a startling drop of more than 75bps in little over a month.

Persons: Brendan McDermid, Mike Dolan, Wall, Charlie Munger, Berkshire Hathaway's Munger, Warren Buffett, Christopher Waller, Jerome Powell, Waller, John Williams, Austan Goolsbee, Michelle Bowman, Powell, Stocks, smartly, Hong, Thomas Barkin, Loretta Mester, Andrew Bailey, BoE, Andrew Hauser, Blinken, Sergey Lavrov, Jane Merriman Organizations: Wall, REUTERS, Federal Reserve, Waller . New York Fed, Chicago Fed, HK, Austria's, Holdings, Richmond Fed, Cleveland Fed, Bank of England, London, Russian, Foods, Intuit, Petco, Thomson, Reuters Locations: New York, U.S, Berkshire, Waller ., China, Europe, Vienna, North Macedonia

☆ Phillips 66's refining operations come under activist radar
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +4 min

REFINERIES:WOOD RIVER, Roxana, Illinois, refining capacity: 356,000 barrels per day (bpd)Largest Phillips 66 refinery by operating capacity. LOS ANGELES: Carson and Wilmington, California, capacity: 139,000 bpdTwo sites linked by pipeline, producing California Air Resources Board-grade gasoline and fuel-grade petroleum coke. *SAN FRANCISCO: Santa Maria, Wilmington, California and Rodeo, Rodeo, California, capacity: 120,200 bpdPhillips 66's San Francisco operations consisted of two sites: Santa Maria refinery in Wilmington, California and Rodeo refinery in Rodeo, California. INTERNATIONAL REFINERIES:HUMBER, North Lincolnshire, United Kingdom, total throughput: 245,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil and petroleum coke. MiRO, Karlsruhe, Germany, total throughput: 61,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil, bitumen, and petroleum coke.

Persons: Bing Guan, refiner Phillips, Phillips, Santa, Santa Maria, Shariq Khan, Matthew Lewis Organizations: Phillips, Los, Los Angeles Refinery, REUTERS, Investment Management, Energy, Exports, California Air Resources, INTERNATIONAL, MiRO, . Energy, Thomson Locations: Los Angeles, Carson , California, U.S, Wood, Borger, Roxana , Illinois, Midcontinent, BORGER, Borger , Texas, West Texas, New Mexico , Colorado, SWEENY, Old Ocean , Texas, United States, America, LAKE CHARLES, Westlake , Louisiana, Europe, Linden , New Jersey, York, Bayway, East Coast . PONCA CITY, Ponca City , Oklahoma, ANGELES, Carson, Wilmington , California, California, California , Nevada, Arizona, FERNDALE, Ferndale , Washington, BILLINGS, Billings , Montana, Montana , Wyoming , Idaho , Utah, Colorado, Washington, Santa Maria, Rodeo , California, Francisco, HUMBER, North Lincolnshire, United Kingdom, Karlsruhe, Germany, Switzerland, France, Austria, San Francisco, Bengaluru

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - Investors are increasingly pessimistic about the outlook for crude oil prices as doubts grow OPEC+ will cut production enough to offset rising non-OPEC output and a deteriorating economic outlook. But many professional money managers are more optimistic about refined fuel prices, especially U.S. gasoline and diesel, expecting low inventories will ensure prices remain stronger than crude. By contrast, the position in fuels was 114 million barrels (51st percentile), with substantial positions in U.S. gasoline (64 million barrels) and U.S. diesel (33 million barrels). The surplus had swelled from +60 bcf (+2% or +0.23 standard deviations) at the start of October despite very low prices. Related columns:- U.S. crude oil bears risk reversal from crowded trade (November 20, 2023)- U.S. gasoline stocks add to crude oil turbulence (November 17, 2023)- U.S. oil prices slide as stocks accumulate at Cushing (November 16, 2023)- Oil traders turn bearish, daring OPEC⁺ to cut again (November 14, 2023)John Kemp is a Reuters market analyst.

Persons: Leonhard Foeger, Brent, Henry, John Kemp, Mark Potter Organizations: REUTERS, ICE, U.S ., Funds, Henry Hub, Thomson, Reuters Locations: Vienna, Austria, OPEC, NYMEX, Saudi Arabia, Louisiana, Cushing

Speaking to parliament, Scholz went into Germany's recent history of the COVID pandemic, the war in Ukraine and soaring energy prices to extend a suspension of self-imposed borrowing limits to tackle a crisis that has knocked his coalition. A constitutional court ruling nearly two weeks ago blocked the government's plans to reallocate unused pandemic funds towards green initiatives and industry support, raising fears Germany's economy could be further weakened. Scholz's assurances that his government would solve the budget crisis with care were met with jeers and laughter from the opposition Christian Democrats (CDU), whose lawsuit against the government had sparked the earlier court ruling. He underscored support for Ukraine, after the recent budget turmoil raised questions over how much military aid Berlin was willing to commit. "It is also clear that we must not let up in our support for Ukraine and in overcoming the energy crisis.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Friedrich Merz, Scholz, Germany's, Berlin, Scholz's, " Merz, Andreas Rinke, Christian Kraemer, Miranda Murray, Rachel More, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Climate, Christian Democratic Union, CDU, Bundestag, Christian Democrats, Ukraine, Finance, Thomson Locations: BERLIN, Ukraine, Germany, East Germany

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

☆ Suspected fake Ozempic causes hypoglycemia in 11 in Lebanon
▼ + stars: | 2023-11-28 | by ( Patrick Wingrove | ) www.reuters.com time to read: +4 min

Three of the people who took the suspected fake Ozempic did so to control their diabetes, while four took it for weight management, Karam said. People with diabetes need to closely manage their blood sugar, which can be done with a variety of medicines including Ozempic. Lebanon's Ministry of Public Health issued two recalls related to Ozempic in January 2023, according to its website. Karam said Ozempic is neither purchased nor provided by the Ministry of Public Health. Several people have been hospitalized in Austria for hypoglycemia after taking potentially fake versions of Ozempic.

Persons: Rita Karam, Eli Lilly's, Novo's, Karam, Ozempic, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: Lebanese Ministry of Public Health, Lebanon's Ministry of Public Health, Novo Nordisk, World Obesity, Obesity, International Diabetes Federation, Ministry of Public Health, Reuters, Thomson Locations: Lebanon, Germany, Egypt, Russia, United States, Novo, Britain, Belgium, Austria

☆ ADNOC German oil deal has bad timing, good logic
▼ + stars: | 2023-11-28 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Abu Dhabi National Oil Company (ADNOC), the state-owned Abu Dhabi oil giant he runs, is considering a bid for BASF-owned (BASFn.DE) Wintershall Dea, at a potential $11 billion valuation. The UAE firm is already in talks to buy chemical company Covestro (1COV.DE), Wintershall’s German compatriot, for $12 billion. Abu Dhabi's oil riches mean the UAE firm has the wherewithal to pay 5.5 billion euros for BASF’s Wintershall stake. Any deal could value Wintershall Dea at more than 10 billion euros ($11 billion), Bloomberg reported. BASF holds a 72.7% stake in Wintershall Dea.

Persons: Toru Hanai, Wintershall, Jaber, It’s, Austria’s, Abu, LetterOne, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Abu Dhabi National Oil Company, BASF, The, Shell, Russian, Reuters Graphics Reuters, Abu, National Oil Company, Bloomberg, Wintershall Dea . Investment, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, The UAE, Germany, Norway, UAE, Europe, United Kingdom, Abu, Russia, Wintershall Dea

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsLONDON, Nov 27 (Reuters) - OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday. An OPEC+ source said he expected there to be an option for a "collective further reduction" on Thursday, without providing details. OPEC+ sources earlier this month said the group was set to consider additional cuts. OPEC member Kuwait is committed to any decisions issued by OPEC, especially those that concern market quotas and oil production, the country's oil ministry said in a post on social media platform X. This will be followed at 1400 GMT by a meeting of the full policy-making group of OPEC+ ministers, the agenda showed.

Persons: Leonhard Foeger, Ahmad Ghaddar, Alex Lawler, Louise Heavens, Dmitry Zhdannikov, Christina Fincher Organizations: Organization, REUTERS, of, Petroleum, Reuters, OPEC, Thomson Locations: OPEC's, Vienna, Austria, OPEC, Russia, Kuwait, Saudi Arabia, Saudi

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. On Friday, Signa Real Estate Management filed for insolvency in a local court in Berlin, according to a court filing. The real estate sector was a bedrock of Germany's economy for years, accounting for roughly a fifth of output and one in 10 jobs. Now a sharp rise in rates has put an end to the run, tipping some developers into insolvency as deals freeze and prices fall. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Rene Benko’s Signa, Fabian Bimmer, Signa, Elliott, Rene Benko, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, John O'Donnell, Miranda Murray, Sharon Singleton, Mark Potter Organizations: REUTERS, Rights, Elliott Investment Management, Chrysler, Estate Management, Austria's Raiffeisen Bank, Thomson Locations: Hamburg Germany, Austrian, Germany, Austria, Switzerland, Sweden, Berlin, Bavaria, Hesse, Hamburg, Europe's, United States, China

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