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SummarySummary Companies Three EU states have banned Ukrainian grain, food importsRomania looks set to follow suitUkraine also trying to salvage Black Sea grain dealWARSAW, April 18 (Reuters) - Poland agreed on Tuesday to lift a ban on the transit of Ukrainian grain and food products, but Ukraine said a wartime deal allowing it to safely ship grain from Black Sea ports was still under threat. Failure to resume exports into eastern European countries or secure an extension of the Black Sea grain deal would trap large amounts of grain in Ukraine, hitting its exports and causing further economic problems for Kyiv as it battles Russian troops. Large quantities of Ukrainian grain have been trapped by bottlenecks in eastern and central Europe as low global prices and demand mean grain cannot easily be sold on. BLACK SEA GRAIN DEAL IN DOUBTUkraine, which relies on grain and food sales for a significant slice of its gross domestic product, also has concerns about the Black Sea Grain Initiative brokered between Moscow and Kyiv by Turkey and the United Nations last July. Russian Foreign Minister Sergei Lavrov will discuss the Ukraine Black Sea grain export deal with U.N. Secretary-General Antonio Guterres in New York next week, Russia's U.N. envoy said on Tuesday.

REUTERS/Aude GuerrucciLOS ANGELES, April 17 (Reuters) - United Parcel Service (UPS.N) and the International Brotherhood of Teamsters union will on Monday start U.S. private sector labor contract talks covering roughly 340,000 U.S. drivers, package handlers and loaders at the global delivery firm. The powerful Teamsters union wants an agreement that shares billions of dollars in UPS pandemic profits with workers, exerts leverage over other negotiations and helps to recruit new members - including Amazon warehouse workers. UPS, the world's biggest parcel delivery firm and No. "Failure is not an option," Teamsters General President Sean O'Brien told a rally on an April 2 in Boston. These are the first labor talks for both O'Brien and UPS CEO Carol Tomé.

Under the pact to create a safe shipping channel, Ukraine has been able to export some 27.7 million tonnes of agricultural products, including 13.9 million tonnes of corn and 7.5 million tonnes of wheat. The leading destinations have been China (6.3 million tonnes), Spain (4.8 million) and Turkey (3 million). Ukraine's grain exports are forecast to fall in the 2023/24 season after the war has meant farmers planted less corn and wheat. The International Grains Council has forecast that Ukraine's corn crop will fall to 21 million tonnes, down from the prior season's 27 million, with exports expected to drop to 15 million tonnes from 20.5 million. CAN UKRAINE EXPORT MORE GRAIN THROUGH LAND ROUTES?

☆ Bosnia Serb leader Dodik threatens to declare indepdendence
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

BELGRADE, April 14 (Reuters) - Bosnian Serb leader Milorad Dodik on Friday told his ally Serbia he was seriously considering declaring the autonomous Serb Republic independent from the rest of Bosnia unless a row over a property law is resolved. Dodik's hardline Serb nationalism and pro-Russian stance have raised concern that Bosnia might fracture again along ethnic lines, a generation after its devastating war. According to constitution, the national parliament must adopt a property law that would be valid across Bosnia, but Dodik, who is president of the Serb Republic, says that deprives the Serb region in Bosnia of the right to its land, rivers and forests. During his 25 years in power either as the region's president or premier, Dodik has acted to strengthen the autonomy of the Serb region. Last month, Dodik ordered that Serb officials should halt all contacts and communication with US and UK ambassadors in Bosnia, after they had criticised his inflammatory rhetoric.

☆ China's Zeekr launches electric SUV, targets Europe
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Zoey ZhangCHENGDU, China, April 12 (Reuters) - Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sport utility vehicle, as it targeted a premium market in China that has been dominated by German automakers. The Geely-owned [RIC:RIC:GEELY.UL] brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe without saying when that would be. The company will start delivering the Zeekr X in China from June with a target of delivering 40,000 this year, An said. After Europe, Zeekr will target Asian markets outside China, An said without providing details. It sold 15,234 of its two existing models - the 001 sedan and the 009 multi-purpose vehicle - in the first quarter, accounting for just 2% of China's battery electric vehicle sales.

☆ Dollar drops as inflation cools more than expected
▼ + stars: | 2023-04-12 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

In the 12 months through March, the CPI increased 5.0%, the smallest year-on-year gain since May 2021. Economists at Goldman Sachs said after the data that they no longer expect the Fed to raise rates in June. The dollar index fell 0.60% on the day to 101.49 and is down from around 102.11 before the data. The dollar dipped to 133.13 Japanese yen , down 0.47% on the day, from around 133.85 before the data. Retail sales data on Friday will be analyzed next for how consumer spending is being affected by higher prices.

☆ Banking turmoil questions begin at board level, says Basel's de Cos
▼ + stars: | 2023-04-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

These events marked the first real stress test of banks since the global financial crisis of 2007-09, de Cos told an Institute of International Finance roundtable in Washington. While it was unlikely a single culprit was to blame, he said the "whodunnit" task should start with bank boards. "A bank’s board, senior management and risk management function should be asking themselves questions in a timely fashion and taking credible measures to shore up resilience," de Cos said. De Cos also said supervisors should also ask tough questions and take "decisive action" to ensure safety and soundness of banks. Mark Carney, former governor of the Bank of England and former chair of the Financial Stability Board (FSB), the G20 watchdog that drove through post-global financial crisis reforms of banking rules, has called for a rethink of bank liquidity rules.

☆ G20 financial watchdog seeks to learn from latest banking turmoil
▼ + stars: | 2023-04-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, April 12 (Reuters) - The G20's financial watchdog on Wednesday said rules it introduced after the global financial crisis had prevented contagion from the latest banking sector turmoil, but it would remain vigilant as the outlook has become more challenging. Unlike other market shocks, the latest episode originated in the financial sector, and therefore "put to the test" the G20's financial reforms, FSB Chair Klaas Knot said in a letter to G20 finance ministers and central bankers meeting in Washington. He said "rapid and effective" actions by authorities in Switzerland, the United States and other jurisidictions maintained global financial stability. "Without these reforms, the stress faced by individual banks could have led to broader contagion within the financial system," Knot said. The outlook for financial stability had become more challenging, Knot said, and the need for financial authorities to learn lessons and act upon them was "all the greater".

But at the same time, EU countries have increased their overall purchases of Russian LNG, undermining the bloc's pledge to end its use of Russian fossil fuels by 2027. Russian LNG exports by region Russian LNG exports by regionEU analysis found Russian LNG imports increased to 22 billion cubic metres (bcm) last year, up from 16 bcm in 2021. Belgium and Spain nearly doubled their imports of Russian LNG in the 12 months since Russia invaded Ukraine, analysis by Kpler showed. The Netherlands has eliminated its Russian pipeline gas imports since the war and reduced, but not eliminated, Russian LNG imports. TO BAN OR NOT TO BANHalting Russian LNG imports would be double-edged, analysts say.

☆ Ukraine farmers say protests in EU over Ukrainian grain are political
▼ + stars: | 2023-04-12 | by ( Pavel Polityuk | ) www.reuters.com time to read: +3 min

Inquam Photos/George Calin via REUTERSKYIV, April 12 (Reuters) - Protests by European farmers are political and shipments of Ukrainian grain are not reducing the profitability of their business, Ukrainian food producers' union UAC said on Wednesday. Poland last week said it would temporarily halt Ukrainian grain imports after farmers' protests led Poland's agriculture minister to resign, but transit would still be allowed. "The political nature of the European farmers' strikes is obvious. "However, certain forces need to demonstrate that this is due to an oversupply of Ukrainian grain," he said, noting that the country faced elections later this year. Ukrainian officials this month said, however, the country may export a further 15.6 million tonnes of grain in the April-to-June quarter, which would lift this season's exports to nearly 53 million tonnes.

☆ UK court approves German property group Adler's restructuring plan
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 12 (Reuters) - Adler Group SA's (ADJ.DE) restructuring plan to prevent the German property company's imminent collapse was approved by London's High Court on Wednesday, despite opposition from some bondholders. He told a short hearing on Wednesday that he would provide his reasons for allowing the plan at a later date. Adler Group has external debts of approximately 6.1 billion euros ($6.66 billion), according to court documents filed by AGPS Bondco for last week's hearing. Under the restructuring plan, the company will borrow 938 million euros of new funding and the terms of unsecured notes that mature between 2024 and 2029 will be amended. A group of creditors that holds notes that mature in 2029 – including investment firms DWS Investment GmbH and Strategic Value Partners – opposed the plan, saying they would be better off if Adler Group were formally liquidated.

☆ Russia imposes sanctions on 333 Canadians, including Olympians
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - Russia on Wednesday imposed sanctions on 333 Canadian officials and public figures, including prominent Olympians, in what it said was a tit-for-tat response to Canadian restrictions on Moscow and support for Ukraine. Russia has routinely placed sanctions on Western officials and high-profile individuals - effectively a permanent ban on them entering Russia - since the West targeted hundreds of Russian individuals and companies over the invasion of Ukraine. "This measure is designed to encourage those on the black list to change their behaviour," the ministry said in a statement. The Canadian Olympians targeted by Russia include ice dancer Tessa Virtue, a five-time Olympic medallist, and hockey player Hayley Wickenheiser, a six-time Olympian. Reporting by Reuters; Editing by Emelia Sithole-Matarise and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

The U.S. dollar rose after U.S. jobs data pointed to a tight labor market, heightening expectations of another Federal Reserve rate hike. Dollar strength makes oil more expensive for other currency holders and can weigh on demand. Oil also drew support from a steeper-than-expected drop in U.S. crude inventories last week, as well as a decline in gasoline and distillate stocks, hinting at rising demand. In global financial markets, a U.S. inflation report to be released on Wednesday could help investors to gauge the near-term trajectory for interest rates. Also coming up are monthly reports from OPEC on Thursday and the International Energy Agency on Friday, which will update oil demand and supply forecasts.

A shareholder vote on Teck's plan is scheduled for April 26. "A vote against the separation is a vote to maintain the status quo at Teck, and there is no path that includes Glencore acquiring Teck," Price said. Teck said its board has rejected the offer as Glencore did not present a coherent plan for its proposed coal company. Analysts had last week seen room for an higher offer from Glencore to sway Teck shareholders in its favour. "This is not just about price," Price said on Monday.

☆ Petrol bombs thrown at Northern Irish police on eve of Biden visit
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

LONDONDERRY, Northern Ireland, April 10 (Reuters) - A number of masked people attacked police with petrol bombs and other objects at a parade opposing the Good Friday peace accord in Londonderry, police said on Monday, a day before U.S. President Joe Biden visits Belfast. A Reuters photograph showed four young people in the mainly Irish nationalist area of Creggan throwing petrol bombs at an armoured police vehicles, which was covered in flames on one side. "Our officers have come under attack in Creggan with petrol bombs and other objects thrown at their vehicle while in attendance at an un-notified Easter parade. Monday marked the 25th anniversary of the signing of the Good Friday Agreement that largely ended three decades of sectarian bloodshed in Northern Ireland. Reporting by Clodagh Kilcoyne, writing by Padraic Halpin in Dublin; editing by John Stonestreet and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's coastguard works to rescue 1,200 migrants drifting at sea
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] The boat in distress with about 400 people on board is pictured in Central Mediterranean Sea in this handout obtained by Reuters on April 10, 2023. Giacomo Zorzi/ Sea-Watch/Handout via REUTERSMILAN, April 10 (Reuters) - The Italian coastguard is carrying out operations to rescue two boats carrying a total of 1,200 people, it said on Monday, after a surge in the number of migrants crossing the Mediterranean from North Africa over the weekend. The other rescue operation by Italian coastguard on Monday was to help a fishing boat carrying 800 people that was located over 120 miles southeast of Siracusa, in Sicily. A spokesperson for coastguard said it would take hours to complete the two ongoing operations because of difficult conditions, including the long distance form the coast. Before these two operations, the Italian coastguard had already rescued around 2,000 migrants since Friday, it said.

☆ Pakistan's finance minister opposes snap polls mandated by top court
▼ + stars: | 2023-04-10 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

ISLAMABAD, April 10 (Reuters) - Provincial snap elections are not in Pakistan's national interest given its economic turmoil and security situation, the country's finance minister said on Monday, in defiance of an order by the country's supreme court. Finance Minister Ishaq Dar on Monday put forward a financial bill to seek a vote on whether to approve the election funding. "The country's economic, security and internal conditions demand that snap polls aren't in the national interest," he said in a televised speech to parliament. He suggested holding the elections together in all provinces and national seats, saying that would reduce logistics and security expenses. ($1 = 286.2500 Pakistani rupees)Reporting by Asif Shahzad; editing by John Stonestreet and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Aid group says two employees killed in Ethiopia's Amhara region
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

NAIROBI, April 10 (Reuters) - Two Catholic Relief Services (CRS) workers were shot and killed on Sunday in Ethiopia's Amhara region, the charity said, amid violent anti-government protests triggered by a federal government decision to disband regional special forces units. Spokespeople for Ethiopia's federal government and for the Amhara regional government did not immediately respond to requests for comment. Residents in the town of Dessie reported large protests there on Monday, with young people blocking the roads and burning tyres. Amhara forces fought alongside the federal army in that conflict. Prime Minister Abiy Ahmed says the integration of the regional special forces is needed to ensure national unity in a country with a long history of inter-ethnic conflict.

☆ Britain to encourage smokers to swap cigarettes for vapes
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 11 (Reuters) - Up to one million smokers will be encouraged to swap cigarettes for "vapes", with pregnant women offered financial incentives to make the change in what will be a world first, the British government said on Tuesday. Under the scheme, almost one in five smokers will be given a vape - an e-cigarette - starter kit along with support to help quit smoking, the Department of Health (DoH) said. "We will offer a million smokers new help to quit. We will be funding a new national ‘swap to stop’ scheme – the first of its kind in the world." Health service figures show 9% of 11 to 15-year-olds in Britain had used e-cigarettes in 2021, up from 6% three years before.

☆ Work to be done, PM Sunak says 25 years after Northern Ireland peace deal
▼ + stars: | 2023-04-09 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

[1/2] A road sign is seen indicating speed limits are changing from kilometres per hour to miles per hour on the border between Northern Ireland and Ireland along the M1 motorway, as seen from Carrickcarnan, Ireland, May 19, 2022. REUTERS/Clodagh KilcoyneLONDON, April 10 (Reuters) - A quarter of century since the signing of a peace deal that largely ended violence in Northern Ireland, British Prime Minister Rishi Sunak said efforts had to be intensified to restore the power-sharing government central to the accord. U.S. President Joe Biden will fly into Northern Ireland on Tuesday to attend events marking the 25th anniversary of the deal, a reflection of the role the United States played in brokering the agreement. "But most importantly, it is based on compromise in Northern Ireland itself. Last month, Britain's MI5 intelligence agency increased the threat level in Northern Ireland from domestic terrorism to "severe" - meaning an attack was considered highly likely.

[1/5] A bride and a groom wait during the Easter Sunday mass wedding ceremony, organised by the International Pentecostal Holiness Church Jerusalem City (IPHC), with more than 800 couples taking part, in Kgabalatsane in the North-West province, South Africa, April 9, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, April 9 (Reuters) - More than 800 couples walked down the aisle on Easter Sunday in one of the biggest mass wedding ceremonies in South Africa since the COVID-19 pandemic. The International Pentecost Holiness Church blesses polygamous unions, which are common in some African communities, and the church says are authorised by the Bible. Its mass nuptials take place three times a year – at Easter, in December, and also during the celebrations in September of the church's founding in 1962. Current wives wore colourful attire to the ceremony at the International Pentecost Holiness Church's Jerusalem congregation, 100 kilometers (62 miles) north of Johannesburg.

[1/5] A supporter of former Italian Prime Minister Silvio Berlusconi stands near the 'San Raffaele' hospital, where former Italian Prime Minister is hospitalised, in Milan, Italy, April 7, 2023. REUTERS/Claudia GrecoMILAN, April 7 (Reuters) - Former Italian Prime Minister Silvio Berlusconi is "better than he was", his friend Fedele Confalonieri said on Friday after visiting him in hospital, where he is being treated for a lung infection caused by chronic leukaemia. "I'm sure he'll make it because he's a strong man, and because he's the best prime minister we've had in Italy. A friend of Berlusconi, Vittorio Sgarbi, said before he went into hospital the two had discussed his future. Berlusconi's Forza Italia party is part of Prime Minister Giorgia Meloni's right-wing coalition, although he does not have a direct role in her government.

☆ Enel agrees to sell two Peruvian assets to China's CSGI for $2.9 bln
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

MILAN, April 7 (Reuters) - Italy's biggest utility Enel (ENEI.MI) said on Friday it agreed to sell its equity stakes in two Peruvian assets for $2.9 billion to China Southern Power Grid International (CSGI). Enel launched an asset sale plan in November that would narrow its focus to six core countries and cut its debt. At the end of last year, the company's net debt was down to 60.1 billion euros ($65.49 billion) from a peak of nearly 70 billion euros at the end of September. The deal is expected to reduce in Enel's consolidated debt by around 3.1 billion euros this year, with a positive impact of around 500 million euros on reported net profit. Under the agreement, Enel's Peruvian subsidiary will sell its entire stake of 83.15% in power distribution and supply company Enel Distribucion Peru and 100% of Enel X Peru, which provides advanced energy services, it said in a statement.

The comments suggest a more muted stance on the prospect for significant orders of large Airbus jets compared with the planemaker's best-selling A320neo medium-haul model, for which it is doubling production capacity in China. It also welcomed an agreement giving delivery clearance for 150 A320neo and 10 A350 jets that Airbus had already sold to China. Airbus is marketing a freighter version of its A350 jet and is keen to sell more wide-body passenger jets to China. The statement also said European and Chinese regulators would accelerate certification involving the Airbus H175 helicopter, Dassault Aviation (AM.PA) 8X business jet and Harbin Y12F turboprop. The H175 was co-developed by Airbus Helicopters and Chinese aerospace conglomerate AVIC and is often used for ambulance or police service.

Summary Russia to West: remove obstacles to agricultural exportsLavrov: West should take UN proposals seriouslyLavrov: Ukraine may have to use land/rivers for exportsLavrov: Russia may work around Black Sea grain dealMOSCOW, April 7 (Reuters) - Russia warned the West on Friday that unless obstacles to its exports of grain and fertilisers were removed, then Ukraine would have to export grain over land and Moscow would work outside the UN-brokered landmark grain export deal. The Black Sea grain deal is an attempt by the United Nations to ease a food crisis that predated the Russian invasion of Ukraine, but was made worse by the most deadly war in Europe since World War Two. The deal, first signed by Russia, Ukraine, Turkey and the UN in July last year and twice extended, allows for the export of food and fertiliser, including ammonia from Ukraine's Black Sea ports of Odesa, Chornomorsk, Yuzhny/Pivdennyi. If the West continued to refuse to remove the obstacles to Russian exports, Moscow would work around the grain deal, Lavrov said beside his Turkish counterpart at a news conference in Ankara. Since its signing, the 120-day grain deal has been extended twice, once in November and a second time in March, though Russia said the March extension was only for 60 days.

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