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☆ UAW says Chrysler parent Stellantis seeking concessions in talks
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, Feb. 23, 2022. REUTERS/Gonzalo Fuentes/File PhotoAug 8 (Reuters) - The United Auto Workers (UAW) union said on Tuesday that Chrysler parent Stellantis (STLAM.MI) is seeking numerous concessions in ongoing contract talks, including cuts to existing medical coverage. The UAW also said the company opposes an end to two-tier wages, a practice of newer workers getting paid much less than veteran workers. The UAW is seeking more than 40% pay raises over four years, significant additional time off and a restoration of defined benefit pensions previously eliminated for newer workers. The UAW wants new limits on temporary workers and for them to receive profit sharing.

Persons: Gonzalo Fuentes, Stellantis, Shawn Fain, David Shepardson, Bernadette Baum Organizations: REUTERS, United Auto Workers, UAW, Chrysler, Stellantis, General Motors, Ford, Reuters, U.S, Thomson Locations: Velizy, Villacoublay, Paris, France, Illinois

"It's probably going to be a rough July and a rough summer," she said in a phone interview. Canada's trade deficit with countries other than the United States, its biggest trading partner, widened to an all-time high as month-over-month exports declined 5.5%, while imports were down marginally. The overall trade deficit matched the C$3.73 billion shortfall in October 2020. The Canadian dollar traded slightly higher at C$1.3477 to the U.S. dollar, or 74.20 U.S. cents, up from C$1.3498 to the U.S. dollar, or 74.09 U.S. cents. By volume, imports were up 0.9%.

Persons: Chris Helgren, Statscan, Meena Aier, It's, Olivia Cross, Cross, Ismail Shakil, David Ljunggren, Bernadette Baum, Jonathan Oatis Organizations: Port, REUTERS, OTTAWA, Statistics, Export Development, Capital Economics, Canadian, U.S ., Thomson Locations: Port of Vancouver , British Columbia, Canada, Statistics Canada, United States, of Nova Scotia, Ottawa

☆ Morning Bid: Wall St set for rebound after worst week since March
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +3 min

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. "The sell off in back-end rates is concerning," Anshul Sehgal, Goldman Sachs co-head of U.S. rates trading, said in an emailed note to clients. Futures on Wall Street , , are signaling a slightly higher open, although European equities (.STOXX) are shedding around 0.4% - playing catch up following a late drop on Wall Street on Friday - and Asian shares were a fraction lower on Monday. The more upbeat Wall Street mood might be because a tightening in financial conditions could give the Fed another excuse to ease off the pedal when it comes to further tightening or even cut rates sooner. Meanwhile, the number of companies reporting earnings is set to slow sharply, with 33 S&P 500 (.SPX) and 55 STOXX 600 companies reporting this week, according to Deutsche Bank.

Persons: Carlo Allegri, Samuel Indyk, Sehgal, Goldman Sachs, Goldman's Sehgal, June's, Bowman, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Bank of Japan, Treasury, Wall, Fed, CPI, Deutsche Bank, Reuters, Tyson Foods, Thomson Locations: New York, U.S

☆ UK house prices fall for 4th month but market shows resilience - Halifax
▼ + stars: | 2023-08-07 | by ( William Schomberg | ) www.reuters.com time to read: +3 min

But the decline in house prices has so far been small compared with the surge in valuations during the COVID pandemic. Kim Kinnaird, director of Halifax Mortgages, said house prices were likely to continue falling into next year, echoing previous comments by the lender. A Reuters poll of analysts published in early June pointed to a 3% fall in house prices in 2023 before flat-lining in 2024. This should leave house prices 10.5% below their peak on the Nationwide measure." Nationwide, another mortgage lender, said last week its index of house prices fell by the most since 2009 in the 12 months to July.

Persons: Susannah Ireland, Kim Kinnaird, Kinnaird, Imogen Pattison, William Schomberg, Kate Holton, Bernadette Baum Organizations: City of, REUTERS, Halifax, Bank of England, Capital Economics, Nationwide, Thomson Locations: City, City of London, South London, Britain, Halifax

Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion riyals a year earlier, beating a company-provided median estimate from 15 analysts of $29.8 billion. The group declared a base dividend of about $19.5 billion for the second quarter, roughly in line with its payout for the first quarter. Aramco will begin paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, it said. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The firm still sees capital expenditure at between $45 billion and $55 billion this year, Nasser said on a media call.

Persons: Maxim, Graphics Brent, Brent, Amin Nasser, Nasser, Maha El Dahan, Yousef Saba, Jan Harvey, Bernadette Baum Organizations: Aramco, Investment Fund, Saudi, REUTERS, Graphics, of, Petroleum, Thomson Locations: China chem, DUBAI, Saudi Arabian, Aramco, Saudi, Saudi Arabia, Russia, Saudi Aramco, Abqaiq, Moscow, Riyadh

European shares (.STOXX) slipped 0.6%, bruised by disappointing earnings reports and elevated U.S. bond yields, on course for their third straight day of losses. Sterling extended losses after the BoE decision, falling as much as 0.7% to its lowest since June 30. The BoE decision was closely watched for clues on how central banks globally will balance taming inflation and maintaining growth. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4%, extending losses after a drop of 2.3% a day earlier.

Persons: Sterling, BoE, Stuart Cole, Morgan Stanley, Tom Wilson, Stella Qiu, Mark Potter, Bernadette Baum Organizations: REUTERS, Staff, Sterling, LONDON, Bank of England, FTSE, Equiti, Nasdaq, Treasury, U.S, AMAZON Investors, Apple, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, China, London, Sydney

☆ BMW forecasts growth in Europe, warns supply chain issues remain
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] A BMW iX electric car is displayed during a media tour at the plant of German automaker BMW in San Luis Potosi, Mexico, February 3, 2023. Still, it warned that supply chain issues and inflation would likely continue to weigh on the rest of the year. BMW reported a 2.9% drop in second-quarter net profit, in line with analysts' expectations, after last year's figures were boosted by its decision to take majority control of its Chinese joint venture BMW Brilliance Automotive. BMW saw significantly higher revenues for the first half at 74 billion euros due in part to the integration of its Chinese joint venture BMW Brilliance Automotive (BBA) as well as higher sales and pricing. It paid 3.7 billion euros to take majority control of the Chinese joint venture in February last year, pushing up earnings before tax in the first half of 2022 by 7.7 billion euros.

Persons: Toya Sarno Jordan BERLIN, Victoria Waldersee, Friederike Heine, Edmund Klamann, Bernadette Baum Organizations: BMW iX, BMW, REUTERS, Thomson Locations: San Luis Potosi, Mexico, United States, China

☆ Thirteen hurt in South Korea stabbing incident near Seoul -police
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Aug 3 (Reuters) - Nine people have been stabbed and four others hurt by a car driven by the suspected attacker on Thursday in the South Korean commuter town of Seongnam near the capital Seoul, police said. One person has been arrested, police said in a statement. The attack occurred near Seohyeon station, an area about 20 km (12.43 miles) from Seoul that has a large department store and other shops and where many commuters live. The incident comes just days after another rare stabbing attack in Seoul in which one person was killed and three others wounded. Reporting by Hyonhee Shin Editing by Ed Davies and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Hyonhee Shin, Ed Davies, Bernadette Baum Organizations: South Korean, Police, Thomson Locations: SEOUL, Seongnam, Seoul, Seohyeon

☆ India's license mandate for laptop, tablet imports, in compliance with WTO - source
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

A boy tries to use an Apple laptop at a computer shop in Tokyo, Japan, May 10, 2019. REUTERS/Issei Kato/file photoNEW DELHI, Aug 3 (Reuters) - India will impose a licensing requirement for imports of laptops, tablets and personal computers to ensure security of its citizens, a source familiar with the matter told Reuters on Thursday, adding the decision was in compliance with the World Trade Organization's requirements. Reporting by Shivangi Acharya, writing by Tanvi Mehta; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Shivangi Acharya, Tanvi Mehta, Bernadette Baum Organizations: REUTERS, Reuters, Trade, Thomson Locations: Tokyo, Japan, DELHI, India

European stocks (.STOXX) fell 0.2%, stepping back from a 2% gain in July, its second month of gains. UK stocks (.FTSE) edged up 0.1%, however, with HSBC (HSBA.L) climbing 2.6% after announcing a $2 billion share buyback and raising its key profitability target. Oil prices traded near a three-month high hit on Monday amid signs of tightening global supply. Also buoying prices were producers cutting output and demand in the United States, the world's biggest fuel consumer, remaining resilient. The U.S. dollar index - which measures the currency against six major peers - rose as high as 102.07 for the first time since July 10.

Persons: Sandrine Perret, Hong, HSI, Alec Jin, Tom Wilson, Kevin Buckland, Ankur Banerjee, Lincoln, Bernadette Baum Organizations: HSBC, LONDON, . Federal, Fed, Brent, Energy, BP, Bank of, Japan's Nikkei, Reserve Bank of Australia, U.S, Thomson Locations: TOKYO, Unigestion, United States, London, Asia, Tokyo

☆ Daimler Truck hits record returns margin amid rising costs
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Aug 1 (Reuters) - Daimler Truck (DTGGe.DE) achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation. Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected. The company struggled in the first quarter with supply chain issues for semiconductors, but has maintained that a general improvement in supply chains would lift its profits. Earnings per share in the quarter fell slightly to 1.11 euros compared to 1.12 euros a year earlier. ($1 = 0.9101 euros)Reporting by Ilona Wissenbach, Victoria Waldersee, Writing by Friederike Heine; Editing by Kim Coghill and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: busmaker, Martin Daum, Ilona Wissenbach, Victoria Waldersee, Friederike Heine, Kim Coghill, Bernadette Baum Organizations: Daimler, Thomson Locations: United States, Japan

[1/3] A volunteer does the registration check-in of pilgrims on the first day of the XXXVII World Youth Day, in Lisbon, Portugal, August 1, 2023. The cross-cultural festival, which actually runs for nearly a week, is held every two to three years and was initiated by the late Pope John Paul. At the Lisbon civil parish of Olivais, volunteers welcomed pilgrims carrying suitcases and sleeping bags on Tuesday near a school that is hosting them. He will celebrate several Masses and attend events with young people, politicians and diplomats. Reporting by Catarina Demony, Miguel Pereira and Pedro Nunes; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Nunes, Pope Francis, Pope John Paul, Francis, Emilie Bartoschek, Bartoschek, Parque Eduardo VII, Buddy, Catarina Demony, Miguel Pereira, Bernadette Baum Organizations: REUTERS, Reuters Connect, Thomson Locations: Lisbon, Portugal, Reuters Connect LISBON, Tejo, Portuguese, Western, Olivais, Germany, Parque

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. Lawyers for Musk in a separate filing said claims against him should be tossed out because he did not sign a specific provision of the merger agreement involving employee benefits, including severance pay. Twitter laid off more than half its workforce as a cost-cutting measure after Musk acquired the company last October. The lawsuit is not a class action, but two similar pending lawsuits brought on behalf of much larger groups of former Twitter employees claim the company owes more than $500 million in severance pay. X has said all of the workers were paid in full.

Persons: Carlos Barria, Elon Musk, Musk, Daniel Wiessner, Bernadette Baum Organizations: REUTERS, Reuters Connect Companies, X Corp, Twitter, Musk, Thomson Locations: San Francisco , California, U.S, Delaware, Wilmington , Delaware, New York , California, Texas, Albany , New York

☆ Morning Bid: August cools Wall St stocks
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +4 min

China's factory underperformance stood out once again and underlined its struggling recovery - perhaps the main driver of stalling industrial activity everywhere. With markets increasingly impatient at the patchy and underwhelming economic stimulus plans seen from Beijing so far, China stocks fell back (.CSI300), bucking Tuesday's wider Asia stocks rally. Sterling and UK stocks (.FTMC) fell back. Ride-hailing giant Uber's stock rose more than 2% before the bell and ahead of its earnings report. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, underperformance, Austan Goolsbee, Goolbee, Stanley Black, Decker, Zimmer Biomet, Revvity, Bernadette Baum Organizations: Federal Reserve, U.S ., Chicago Fed, Bank of England, Sterling, AMD, Caterpillar, Big Pharma, Pfizer, Merck, Ride, HSBC, BP, Uber, Prudential Financial, AIG, Starbucks, Molson Coors, Boston Properties, Caesars Entertainment, Illinois Tool, Natural Resources, Energy, Devon Energy, Gartner, Allstate, Paycom Software, Electronic, WEC, Rockwell, Public Service Enterprise, P Global, Dallas Fed, Chicago Federal, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wall, Beijing, China, Asia, ., Marathon, Eaton, Altria, Marriott, Illinois, Progressive

☆ Sweden to boost security controls after Koran burnings
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Aug 1 (Reuters) - Threats to Sweden have increased after recent Koran burnings, the country's government said on Tuesday, adding that it would strengthen border and internal controls and give police wider authority to stop and search people as a result. More Koran burnings took place on Monday and both countries said they were examining ways to legally limit such acts in a bid to de-escalate tensions. Prime Minister Ulf Kristersson said the security situation in Sweden was complex, not least because of its delayed accession to NATO. On Monday, the 57-nation Organisation of Islamic Cooperation (OIC) convened in an extraordinary session to discuss the recent developments and strongly condemned the Koran burnings. "It is not the case that Sweden is adapting itself in the light of other countries' demands on Sweden.

Persons: Ulf Kristersson, Kristersson, Johan Ahlander, Simon Johnson, Terje Solsvik, Lincoln, Bernadette Baum Organizations: Nordic, NATO, of Islamic Cooperation, Thomson Locations: STOCKHOLM, Sweden, Denmark, Swedish, Stockholm, Oslo

☆ Yellow Corp financial woes not economy-wide issue -White House adviser
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 31 (Reuters) - White House economic adviser Jared Bernstein on Monday said the reported impending bankruptcy of cash-strapped U.S. trucking company Yellow Corp (YELL.O) does not indicate an economy-wide problem. "So I think that this looks like a more of a Yellow story than an economy-wide one by a long shot," Bernstein said. Yellow Corp has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. The company was the third-biggest U.S. trucker specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. "Nobody likes to see an event like this, as you say, practically a 100-year old company and iconic American Trucking Company and the job losses that you cited."

Persons: Jared Bernstein, Monday, Bernstein, Doina Chiacu, Bernadette Baum, Mark Potter Organizations: Yellow Corp, of Economic Advisers, CNBC, Corp, Teamsters Union, Teamsters, American Trucking Company, Thomson

It has yet to disburse a $131.5 million loan to Niger that was approved on July 5, it added. The interior minister, transport minister, and a deputy had already been detained, it added. The arrests confirm the "repressive and dictatorial" nature of the coup leaders, the party said in a statement, calling on citizens to come together to protect democracy. The arrests were announced a day after Chadian President Mahamat Idriss Deby arrived in Niger to try to mediate between the coup leaders and the ousted government. Yevgeny Prigozhin, the head of Russia's Wagner mercenary group, last week welcomed the coup in Niger, and said his forces were available to restore order.

Persons: Niger's, Mohamed Bazoum, Mahamane Sani Mahamadou, Issoufou Mahamadou, Mahamat Idriss Deby, Deby, Bazoum, Ursula von der Leyen, Emmanuel Macron, Abdourahamane Tiani, Yevgeny Prigozhin, Russia's Wagner, Antonio Tajani, Boureima Balima, Abdel, Kader Mazou, Anait Miridzhanian, Bate Felix, Nellie Peyton, Sofia Christensen, Alexander Winning, Bernadette Baum, Andrew Heavens, Nick Macfie Organizations: International Monetary Fund, IMF, CFA, West, African Union, European Union, Islamic, Junta, Nigerien Party for Democracy and, Chadian, ECOWAS, EU, REUTERS, Twitter, French Foreign Ministry, Paris, White, Thomson Locations: NIAMEY, Niger, West, Central Africa, United States, France, Islamic State, al Qaeda, EU, U.S, Nigerien, Niamey, Mali, Burkina Faso, Russia, Niger's

☆ Argentina won't use 'one dollar' of reserves to repay IMF, says Massa
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 31 (Reuters) - Argentina's Economy Minister Sergio Massa said on Monday the country will not use "a single dollar" of its own reserves to make a $2.7 billion repayment to the International Monetary Fund (IMF) due this week. Argentina, which has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves, needed to avoid a default with the Fund, with maturities of $2.6 billion due on Monday and almost $800 million due on Tuesday. "I want to bring you peace of mind - Argentina is not going to use a single dollar of its reserves to pay today's maturity," Massa said in a televised speech. The challenge for Argentina now, he added, is to "continue to take care of the (foreign currency) reserves while maintaining the economic activity levels." Reporting by Eliana Raszewski and Gabriel Araujo; Editing by Bernadette Baum and Alexander VIllegasOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Massa, Eliana Raszewski, Gabriel Araujo, Bernadette Baum, Alexander VIllegas Organizations: International Monetary Fund, Development Bank of Latin America, CAF, IMF, Thomson Locations: BUENOS AIRES, China, Buenos Aires, Argentina

☆ In Kosovo, graffiti rejuvenates Pristina's concrete jungle
▼ + stars: | 2023-07-30 | by ( Fatos Bytyci | ) www.reuters.com time to read: +2 min

[1/5] Line Guillod, a graffiti artist paints a mural as part of the Meeting of Styles graffiti festival in Kosovo's capital Pristina, Kosovo July 28, 2023. REUTERS/Fatos BytyciPRISTINA, July 30 (Reuters) - Known as the capital of concrete, Pristina is trying to revitalize its dull and grey image with vivid graffiti on walls and buildings, helping transform public spaces into more inviting, vibrant areas. "When you see the concrete, it gives the impression that it is still under construction," said Agon Xhelili, organizer of the festival, Meeting of Styles Kosovo. Since its creation, it has organized more than 400 events such as the one in Pristina, helping thousands of artists all over the world. "I think it will be really positive (visually and for tourism) if they allowed more public art murals," said Sharon.

Persons: Agon Xhelili, Daniel Sharon, Sharon, Fatos, Bernadette Baum Organizations: REUTERS, Fatos Bytyci, Styles Kosovo, Thomson Locations: Kosovo's, Pristina, Kosovo, Fatos, Fatos Bytyci PRISTINA, Germany, London

☆ France condemns anti-French unrest in Niger following coup
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

PARIS, July 30 (Reuters) - France condemned violence against its diplomatic mission in Niger and pledged to react strongly to any attack on its nationals or interests, as anti-French protests took place outside the French Embassy in Niamey on Sunday following last week's military coup. In a separate statement, the Foreign Affairs ministry condemned all violence against diplomatic missions and called on Niger authorities to protect the French mission as required under international law. France, the former colonial power in Niger, announced on Saturday it was cutting all development aid to the country and called for Bazoum to be returned to office following his ouster late on Wednesday. Niger has been a security partner of France, and the United States, which have used it as a base to fight an Islamist insurgency in West and Central Africa's wider Sahel region. Reporting by Elizabeth Pineau and Layli Foroudi Editing by Bernadette Baum and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Emmanuel Macron's, Macron, Mohamed Bazoum, Elizabeth Pineau, Bernadette Baum, Frances Kerry Organizations: Foreign Affairs, Thomson Locations: France, Niger, Niamey, Niger Mahamadou, . Niger, United States, West, Central

It left us with nothing," Zuhaira told Reuters. The speed of the wind was a factor in the excessive spread of the fires," Qatna told Reuters during a tour of the area. [1/5]A firefighter attempts to extinguish a wildfire, in the northern countryside of Latakia, Syria July 29, 2023. Syria has been severely impacted climate change in recent years, including rising temperatures and erratic rainfall which have led to forest fires and poor harvests. "Syrians were already especially vulnerable because of the impacts of more than 12 years of conflict, which makes it even harder for them to deal with the impacts of climate change," Zakkout told Reuters.

Persons: Izzadin Zuhaira, I've, Zuhaira, Mohammad Hassaan Qatna, Qatna, Suhair Zakkout, Zakkout, Firas Makdesi, Maya Gebeily, Bernadette Baum Organizations: Reuters, Firefighters, REUTERS, International Committee, Thomson Locations: Syria, Latakia, Homs, Hama, Damascus, Beirut

☆ Central Africa vote in referendum could extend Touadera's rule
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +2 min

BANGUI, July 30 (Reuters) - Central African Republic is voting on a constitutional referendum on Sunday which, if it passes, could remove a presidential term limit and allow President Faustin-Archange Touadera to run for a third term in 2025. Touadera was first elected in 2016 for a five-year term and won reelection in 2020 for what was supposed to be his final term in office. Opposition parties and some civil society groups have called for a boycott of the referendum, saying it was designed to keep Touadera in power for life. What I really want is stability for the country to progress," said Laurent Ngombe, a teacher and one of the first people to vote. Reporting by Judicael Yongo Writing by Bate Felix Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Faustin, Touadera, I'm, Laurent Ngombe, Francois Bozize, Russia's Wagner, Judicael, Bate Felix, Bernadette Baum Organizations: Thomson Locations: BANGUI, African Republic, Bangui, France, Touadera, Russia

☆ Iran will pursue rights over Durra gas field if other parties shun cooperation -report
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: 1 min

DUBAI, July 30 (Reuters) - Iran will pursue its rights over the Durra/Arash field if other parties shun cooperation, the country's Oil Minister Javad Owji said on Sunday, according to the Oil Ministry's SHANA news agency. "If there is no willingness to cooperate, Iran will pursue its rights and benefits, including the exploitation and exploration of the Arash gas field, and will not tolerate any violation of its rights," Owji said. Kuwait oil minister Saad Al Barrak told SkyNews Arabia on Thursday that his country will start drilling and begin production at the Durra gas field without waiting for border demarcation with Iran. Reporting by Dubai Newsroom Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Arash, Javad Owji, SHANA, Owji, Saad Al Barrak, SkyNews, Bernadette Baum Organizations: country's Oil, Dubai, Thomson Locations: DUBAI, Iran, Kuwait, SkyNews Arabia

☆ Record 2022 temperatures will be average for UK by 2060 - Met Office
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

Temperatures exceeded 40C in Britain in July last year for the first time, and the Met Office said 2022 was the warmest year since records began in 1884 for the United Kingdom and since 1659 in its Central England Temperature series. "In terms of weather and climate, 2022 was an extraordinary year for the UK," Mike Kendon from the Met Office’s National Climate Information Centre said. The Met Office said its studies found both the record warm year and 2022's July heat wave were made more likely by human-induced climate change. In its 'State of the UK climate' report, the Met Office predicted that in a medium emissions scenario, by 2060, a year like 2022 would be considered an average year and by 2100, it would be considered a 'cool' year. The 2013-2022 period was the warmest decade on record in the UK, the Met Office said.

Persons: Mike Kendon, Kendon, Kylie MacLellan, Bernadette Baum Organizations: Met Office, Met, Climate Information, Thomson Locations: Britain, United Kingdom, State

☆ Forvia's shares fall after 'unimpressive' outlook hike
▼ + stars: | 2023-07-27 | by ( Michal Aleksandrowicz | ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Forvia's (FRVIA.PA) shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker's annual targets failed to impress investors. The world's seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million previously. It forecast 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from an earlier range of 25.2-26.2 billion. Global automotive production grew more than 10% in the first half of the year, on sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement. Forvia's half-year operating profit jumped nearly 70% to 675 million euros, but was 2% below analysts' consensus estimates, according to a research note by J.P.Morgan.

Persons: Patrick Koller, Olivier Durand, J.P.Morgan, Michal Aleksandrowicz, Milla Nissi, Bernadette Baum Organizations: Global, Thomson Locations: Gdansk

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