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☆ US LNG projects win higher processing fees as interest rates climb
▼ + stars: | 2023-08-30 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron/File Photo Acquire Licensing RightsHOUSTON, Aug 30 (Reuters) - Long-term buyers of U.S. liquefied natural gas (LNG) are willingly agreeing to higher liquefaction fees at newer export projects, according to analysts and developers familiar with the matter. The U.S. emerged in 2022 as the world's second largest LNG exporter on plentiful supplies of natural gas and relatively low processing costs per metric ton of LNG. But rising interest rates and higher construction costs have pushed up liquefaction fees, also known as tolling fees. Other developers are turning to increased equity investment in new projects to reduce the impact of higher interest rates on finance costs, said Poten's Feer.

Persons: Snow, Gary Cameron, Lyle Hanna, Jason Bennett, Baker Botts, Bennett, it's, Jason Feer, NextDecade, Feer, Poten's Feer, Curtis Williams, Marguerita Choy Organizations: REUTERS, Rights, Commonwealth LNG, LNG, U.S, Henry, Poten, Partners, Reuters, of Fossil Energy, Carbon Management, Cheniere Energy, Thomson Locations: Lusby , Maryland, U.S, Ukraine, Rio Grande, Houston

SYDNEY, Aug 30 (Reuters) - Australia said on Wednesday that a referendum to recognise the country's Indigenous people in its constitution will be held on October 14. The Aboriginal and Torres Strait Islander people, who represent about 3.2% of Australia's nearly 26 million population, are not mentioned in the constitution. Here are five things to know about the referendum:PROPOSED CHANGES TO THE CONSTITUTIONThe Parliament in August agreed to propose adding a new chapter, Chapter IX-Recognition of Aboriginal and Torres Strait Islander Peoples to the Constitution. The referendum question would be: "A Proposed Law: to alter the Constitution to recognise the First Peoples of Australia by establishing an Aboriginal and Torres Strait Islander Voice. The election commission has said the referendum will see more voting services delivered to remote communities than any other vote in Australia's history.

Persons: Praveen Menon, Alasdair Pal Organizations: SYDNEY, Aboriginal, Torres Strait, Torres Strait Islander Peoples, First Peoples of, Torres Strait Islander, Executive Government, Peoples of Australia, Australian Capital Territory, ACT, Thomson Locations: Australia, Australia's, First Peoples of Australia, Commonwealth, Northern Territory, Sydney

☆ Reaction to Gabon army officers announcing coup
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

Below are reactions to what appeared to be the eighth military coup in West and Central Africa since 2020. FRENCH GOVERNMENT SPOKESPERSON OLIVIER VERAN"We condemn the military coup and recall our commitment to free and transparent elections." EU HIGH REPRESENTATIVE FOR FOREIGN AFFAIRS AND SECURITY POLICY JOSEP BORRELL"If this is confirmed, it is another military coup which increases instability in the whole region. RUSSIAN FOREIGN MINISTRY SPOKESPERSON MARIA ZAKHAROVA"Moscow has received with concern reports of a sharp deterioration in the internal situation in the friendly African country. U.N. SECRETARY-GENERAL ANTONIO GUTERRES"The Secretary-General is following the evolving situation in Gabon very closely.

Persons: Gerauds Wilfried Obangome, Ali Bongo, Moussa Faki Mahamat, BOLA TINUBU'S, Bola Ahmed Tinubu, GENERAL PATRICIA SCOTLAND, OLIVIER VERAN, WANG WENBIN, Bongo, JOSEP BORRELL, MARIA ZAKHAROVA, JOHN KIRBY, It's, GENERAL ANTONIO GUTERRES, Nellie Peyton, Sofia Christensen, Alexander Winning, Sharon Singleton, Andy Sullivan Organizations: REUTERS, Central African, AU, H.E, WEST, BLOC ECOWAS, GENERAL, Commonwealth Secretariat, MINISTRY, EU HIGH, Thomson Locations: Libreville, Gabon, West, Central Africa, Gabonese Republic, Republic, NIGERIA, African Union, CHINA, China, Central African Republic, Mali, Burkina Faso, Niger, Moscow

☆ China rally runs on hope; bonds bet on slowdown
▼ + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

European futures rose 0.2% and FTSE futures rose 0.8% to point to a positive return from a day's holiday in London. SLOWINGElsewhere in Asia, investors' focus was on U.S. data that may determine whether or not interest rates need to rise further. U.S. Treasuries extended overnight gains, driving two-year yields down five basis points (bps) to 5% and 10-year yields down two bps to 4.1922%. The Australian dollar inched 0.3% higher to $0.6440, with incoming central bank governor Michelle Bullock due to speak later in the day. The yen remained pinned near Monday's 10-month low, for a loss of some 10% on the dollar this year.

Persons: Ryan Felsman, Michelle Bullock, Jason Xue, Sam Holmes, Kim Coghill Organizations: Foreigners, Treasury, Workers, of America, Financial, HK, Traders, Benchmark, Commonwealth Bank, Thomson Locations: China, Australia, SINGAPORE, Asia, Pacific, Japan, Hong Kong, London, U.S, Sydney . U.S, Shanghai

☆ Bonds rally, stocks drift as China boost fades
▼ + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The yen remained an outlier and within a whisker of Monday's 10-month low, which has traders on edge about the risk of intervention. Over the weekend, China announced a halving in stock-trading stamp duties and had on Friday approved some guidelines for affordable housing. Hong Kong's Hang Seng (.HSI) closed less than 1% higher on Monday and was 1% firmer in early trade on Tuesday. On Tuesday in New Zealand shares in Tourism Holdings (THL.NZ), the world's largest campervan rental company, surged 13% after the company reported a record underlying profit. On Tuesday, U.S. job openings figures are due, ahead of Friday's broader labour market data and the ISM manufacturing survey.

Persons: Damian Rooney, Kazuo Ueda, Goldman Sachs, Ryan Felsman, Jason Xue, Sam Holmes Organizations: Nikkei, Argonaut Securities, HK, Bank of Japan, Tourism Holdings, New, Commonwealth Bank of Australia, Thomson Locations: SINGAPORE, U.S, Asia, Pacific, Japan, Hong Kong, China, Perth, New Zealand, Sydney, Shanghai

☆ Dollar soft as markets brace for data fest; yen under pressure
▼ + stars: | 2023-08-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The dollar index , which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov.9. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back to around 140 yen. The Australian dollar added 0.03% to $0.643, while the New Zealand dollar eased 0.02% to $0.591.

Persons: Dado Ruvic, Jerome Powell, Carol Kong, CBA's Kong, Jackson, Chanana, Ueda, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S, Reuters, Commonwealth Bank of Australia, Ministry of Finance, United, Saxo, Jackson, New Zealand, Thomson Locations: Japan, United States, Tokyo, Singapore

☆ Dollar soft as markets brace for data fest, yen under pressure
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov. 9. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance to buy the yen and push the pair back to around 140 yen. The Australian dollar added 0.03% to $0.643, while the New Zealand dollar eased 0.02% to $0.591.

Persons: Jerome Powell, Carol Kong, CBA's Kong, Jackson, Chanana, Ueda, Sterling Organizations: U.S, Reuters, Commonwealth Bank of Australia, Ministry of Finance, United, Saxo, Jackson, New Zealand Locations: Nantong, China's, Jiangsu, Japan, United States

☆ Aussie lender NAB to cut 10% jobs in markets division, Australian Financial Review reports
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsAug 28 (Reuters) - National Australia Bank (NAB.AX) is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources. The country's second-biggest bank would begin the layoffs as early as this week but is yet to announce the changes internally, AFR said. Layoffs at NAB would include capital markets types working within its corporate and institutional banking unit, where its markets business sits with a team of about 600. Reporting by Poonam Behura in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Munoz, AFR, Poonam, Alison Williams Organizations: National, REUTERS, National Australia Bank, Australian Financial, Commonwealth Bank of Australia, Westpac Banking Corp, NAB, Thomson Locations: Sydney, Australia, Bengaluru

☆ Chopra wins India's first gold at world championships in javelin
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, Aug 27 (Reuters) - Olympic champion Neeraj Chopra became the first Indian to win a gold medal at the World Athletics Championships when he pipped Pakistan's Arshad Nadeem in the men's javelin on Sunday with an 88.17 metre effort in the final. Chopra won Olympic gold in Tokyo but managed only a silver at the worlds in Eugene last year. After the Olympic gold I really wanted to win the world championships. This is brilliant for the national team but it was my dream to win gold at the world championships," Chopra said. "I wanted to throw more than 90m tonight but it needs all parts of the puzzle to be there.

Persons: Neeraj Chopra, pipped Pakistan's Arshad Nadeem, Chopra, Bobby George, Pakistan's Nadeem, Jakub Vadlejch, Nadeem, Julian Weber, Vadlejch, Kishore Jena, DP Manu, Rohith Nair, Pritha Sarkar, Toby Davis Organizations: Olympic, DP, Thomson Locations: BUDAPEST, Tokyo, Eugene, Paris, Czech, India, Pakistan, Budapest, Germany, Bengaluru

☆ Uganda's Kiplangat takes marathon gold
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

The 2022 Commonwealth Games gold medallist Kiplangat broke away on his own with about 4 km (2.5 miles) to go, crossing the finish line with an advantage of 19 seconds. An exhausted Gebresilase was then overtaken by Teferi, a silver medallist at last year's European Athletics Championships, in the last 200 metres. Defending champion Tamirat Tola, who was part of a three-man breakaway with Kiplangat and Gebresilase before fading, did not finish the race and dropped out after 39 km. A pack of about 30 runners then slowed the pace and took control of it, before Kiplangat, Gebresilase and Tola made their move with 10 km to go. The women's marathon took place on Saturday, with Ethiopia's Amane Beriso claiming gold.

Persons: Victor Kiplangat, Kiplangat, Leul, Gebresilase, Tamirat Tola, Ser, Tola, Ethiopia's Amane, Aadi Nair, William Mallard Organizations: Commonwealth Games, Teferi, Thomson Locations: BUDAPEST, Israel, Budapest, Mongolia, Bengaluru

☆ Fast-finishing Moraa takes 800m gold
▼ + stars: | 2023-08-27 | by ( Mitch Phillips | ) www.reuters.com time to read: +2 min

She also got silver, behind Mu at the Tokyo Olympics and behind Moraa in last year's Commonwealth Games. "After bronze last year I wanted to improve and I have," Moraa said. Mu said: "I came here to Budapest with no big expectations and now I am really grateful for this wonderful bronze medal. "I wanted to slow the pace a little bit since I knew it would be a killer finish. Once I was overtaken from that point I just wanted to finish on the podium."

Persons: Mary Moraa, Keely Hodgkinson, Athing Mu, Mu, Moraa, Hodgkinson, Mitch Phillips, Toby Davis Organizations: Tokyo Olympics, Commonwealth, Thomson Locations: BUDAPEST, Kenya, Eugene, Budapest

☆ Stock futures inch higher to kick off the final trading week of a rocky August: Live updates
▼ + stars: | 2023-08-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly to kick off the final trading week of August. Futures tied to the Dow Jones Industrial Average rose 50 points, or about 0.15%, while S&P 500 futures and Nasdaq-100 futures added 0.14% and 0.7%, respectively. The Dow Jones Industrial Average gained 247.48 points, or 0.7%, on Friday, but finished the week 0.45% lower. Both the broad-based and tech-heavy index notched their first winning week in four, adding about 0.8% and 2.3%, respectively. The final trading week of August kicks off Monday, with all the major indices on track to finish the month with losses.

Persons: Stocks, Jerome Powell, Powell, Brian Price Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Federal, Dow Jones Industrial, Investment Management, Commonwealth Financial Network, Dow, Dallas Fed Locations: Jackson Hole , Wyoming

☆ Soft data drags back dollar ahead of Jackson Hole
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: +2 min

The dollar nursed a sharp pullback against Asian currencies on Thursday, after softer-than-expected global economic data muddied the interest rate outlook and pushed down U.S. yields ahead of the Federal Reserve's Jackson Hole symposium. The New Zealand dollar also leapt overnight, as did the yen , which crossed below 145 to the dollar for the first time in more than a week tracking a sharp move lower in U.S. Treasury yields. The dollar index , which measures the greenback against a basket of six major currencies remains higher for the month, but dipped about 0.2% overnight. PMI data was soft globally, which tempered gains for the euro and sent sterling on a wide-ranging round trip before it steadied around $1.2717. China's yuan, which has been supported by state-bank buying in recent sessions, was steady at 7.2864 in thin offshore trade.

Persons: Jackson, PMIs, Carol Kong, Jerome Powell's, Steve Englander Organizations: Federal, Commonwealth Bank of Australia, New Zealand, Treasury, PMI Locations: U.S, Asia, China

Here are some details of the impact:* DEATHThe war has caused death on a level not seen in Europe since World War Two. The war has left nearly 500,000 troops either dead or injured, according to the New York Times. Russian Defence Minister Sergei Shoigu said on Sept. 21 that 5,937 Russian soldiers had been killed since the start of the war. When added to Crimea, which Russia annexed from Ukraine in 2014, Russia now controls about 17.5% of Ukraine, an area of about 41,000 square miles (106,000 square km). Shortly after Russia's invasion of Ukraine, international oil prices spiked to their highest levels since the records of 2008.

Persons: Chasiv Yar, Violeta Santos Moura, Sergei Shoigu, Julie Kozack, William Burns, Putin, Guy Faulconbridge, Philippa Fletcher Organizations: REUTERS, United Nations, Human Rights, New York Times, Russian, Reuters, Belfer, Harvard Kennedy School, International Monetary Fund, CIA, European Union, Kiel Institute, Thomson Locations: Chasiv, Ukraine, Donetsk, Europe, United States, Ukraine's, Russia, Crimea, Russian, UNHCR, UKRAINE Russia, Massachusetts , New Hampshire, Connecticut, wastelands, RUSSIA, Moscow, China, Saudi Arabia, Britain, Germany, Japan

☆ Dollar eases before Jackson Hole, yen rises amid intervention jitters
▼ + stars: | 2023-08-22 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. China's yuan briefly popped to a one-week high as the central bank again tried to bolster the currency by setting a much stronger-than-anticipated daily mid-point, but those gains fizzled out quickly. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year. Traders are wary of intervention after levels around 146 spurred the first yen buying by Japanese officials in a generation last September. On Thursday, the dollar reached 146.565 yen for the first time since Nov. 10.

Persons: Dado Ruvic, Jerome Powell, Kazuo Ueda, Richard Franulovich, Powell, Kristina Clifton, Kevin Buckland, Simon Cameron, Moore Organizations: REUTERS, Rights, U.S, Federal, Bank of Japan, U.S ., Westpac, Treasury, Traders, Sterling, Commonwealth Bank of Australia, Thomson Locations: Bank, Jackson Hole , Wyoming, China's, Beijing, China

☆ Dollar hovers near highs as U.S. yields surge; PBOC bolsters yuan
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, 100 U.S. dollar notes and 100 yuan notes are displayed. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year. The offshore yuan was little changed at 7.2872, after firming about 0.1% after the fixing. The Australian dollar , which often trades as a proxy to China, was also little changed at $0.6413 after initially strengthening slightly following the fixing. The Aussie has grinded higher in recent sessions after dropping to a 9 1/2-month low of $0.6365 on Thursday.

Persons: Richard Franulovich, Jerome Powell's, Franulovich, Powell, Kristina Clifton Organizations: U.S, U.S ., Westpac, Treasury, Commonwealth Bank of Australia Locations: Jackson Hole , Wyoming, China's, Beijing, China

☆ Australia's Bol out of 800m after doping reprieve
▼ + stars: | 2023-08-22 | by ( Mitch Phillips | ) www.reuters.com time to read: +1 min

BUDAPEST, Aug 22 (Reuters) - Australian Peter Bol endured an anti-climatic appearance at the World Athletics Championships on Tuesday as, having had a doping suspension lifted only weeks before the event, he looked well off the pace in the 800m heats and failed to progress. Bol, fourth at the Tokyo Olympics and the Commonwealth Games silver medallist last year, was provisionally suspended in January after testing positive for synthetic erythropoietin (EPO). However, in an unusual development, an "atypical finding" was discovered in his B sample leading to the ban being lifted in February. However, the case dragged on until the start of August when he was finally cleared by Sport Integrity Australia. Reporting by Mitch Phillips, editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Bol, Bol, Emmanuel Korir, Emmanuel Wanyonyi, Mitch Phillips, Toby Davis Organizations: Tokyo Olympics, Commonwealth Games, Sport Integrity, Thursday's, Kenyan, Thomson Locations: BUDAPEST, Budapest

☆ Westpac flags higher expenses in quarterly update; shares drop
▼ + stars: | 2023-08-21 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

Shares of Sydney-based Westpac fell about 2.1% to trade at A$20.82 at 0040 GMT, hitting their lowest since July 12. Broadly, Australia's major banks have all flagged stiff competition in the mortgage space, along with higher expenses as inflationary pressures weigh. The higher interest rates have also contributed to increased living costs, which are pushing up debt arrears. Westpac did not publish a comparable quarterly net profit figure for the same period a year earlier. The figure reported on Monday was below the A$2 billion average profit for the first two quarters of fiscal 2023.

Persons: David Gray, Riya Sharma, Archishma Iyer, Sam Holmes, Christopher Cushing Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac Banking Corp, Sydney, Westpac, Citi, Commonwealth Bank of Australia, Australia Bank, Thomson Locations: Sydney, Australia

☆ Dollar gains intact as China disappoints, traders eye Jackson Hole
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: +3 min

The yuan slid to the weak side of 7.3 per dollar despite a firm fixing of its trading range by the central bank. The Antipodean currencies often function as a liquid proxy for the yuan owing to the region's exports to China. Like the yuan, the yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore.

Persons: Jackson, Sterling, Jerome Powell, Vishnu Varathan Organizations: Federal, Treasury, New Zealand, Australian, Commonwealth Bank of Australia, Swiss, Mizuho Bank Locations: China, London, New York, Wyoming, Singapore

SummaryCompanies Russia moon mission failsLuna-25 crashes into the moonFailure is a blow to Russian space prestigeSoviet space veteran: Luna-25 was my last hopeMOSCOW, Aug 20 (Reuters) - Russia's first moon mission in 47 years failed when its Luna-25 space craft spun out of control and crashed into the moon after a problem preparing for pre-landing orbit, underscoring the post-Soviet decline of a once mighty space programme. Russia's state space corporation, Roskosmos, said it had lost contact with the craft at 11:57 GMT on Saturday after a problem as the craft was shunted into pre-landing orbit. Though moon missions are fiendishly difficult, and many U.S. and Soviet attempts have failed, Russia had not attempted a moon mission since Luna-24 in 1976, when Communist leader Leonid Brezhnev ruled the Kremlin. Russian officials had hoped that the Luna-25 mission would show Russia can compete with the superpowers in space despite its post-Soviet decline and the vast cost of the Ukraine war. "This was perhaps the last hope for me to see a revival of our lunar program," he said.

Persons: Luna, Roskosmos, Yuri Gagarin, Leonid Brezhnev, Anatoly Zak, Zak, Mikhail Marov, Marov, Guy Faulconbridge, Christina Fincher, Frances Kerry Organizations: Kremlin, India, Indian Space Research Organisation, ISRO, YP Rajesh, Thomson Locations: Russia, MOSCOW, Moscow, Soviet, Europe, Tenerife, China, United States, Handout, Ukraine, Soviet Union, India, Delhi

Russia's state space corporation, Roskosmos, said an "abnormal situation" occurred as mission control tried to move the craft into a pre-landing orbit at 11:10 GMT on Saturday, ahead of a planned touchdown slated for Monday. "During the operation, an abnormal situation occurred on board the automatic station, which did not allow the manoeuvre to be performed with the specified parameters," Roskosmos said in a short statement. Russia has not attempted a moon mission since Luna-24 in 1976, when Leonid Brezhnev ruled the Kremlin. Luna-25 was supposed to execute a soft landing on the south pole of the moon on Aug. 21, according to Russian space officials. It was not immediately clear from official sources how serious the "abnormal situation" was - and whether or not Moscow could save the situation.

Persons: Luna, Roskosmos, Yuri Gagarin, Leonid Brezhnev, Alexander Ivanov, Guy Faulconbridge, Christina Fincher Organizations: REUTERS, Kremlin, India, Thomson Locations: Handout, MOSCOW, Moscow, Soviet, Russia, China, United States, Ukraine

☆ Energy Transfer seeks new LNG export license after extension denied
▼ + stars: | 2023-08-20 | by ( Curtis Williams | ) www.reuters.com time to read: +2 min

The department in May had refused a three-year extension to Energy Transfer's earlier license saying the request did not meet criteria for a second extension. Several other companies including Commonwealth LNG have been waiting years for their non-FTA license to be approved by the DOE. Energy Transfer has been pursuing the multi-billion-dollar Lake Charles LNG project since 2012 and in its latest filing said it could not finish the plant before the existing license's 2025 deadline. Rival Commonwealth LNG told Reuters it would not object to Energy Transfer's application being expedited. "We are advancing our project and whatever happens between the DOE and Energy Transfer has nothing to do with us", Hanna said.

Persons: Kelcy Warren, Lyle Hanna, Hanna, Curtis Williams, Grant McCool Organizations: HOUSTON, Energy, U.S . Department of Energy, DOE, Commonwealth LNG, Reuters, Thomson Locations: Charles , Louisiana, Charles, Dallas, Japan, South Korea, Houston

☆ Westpac flags margin squeeze from rising home loan competition
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray Acquire Licensing RightsSummaryCompanies Reports quarterly cash profit A$1.8 billionLate loan repayments rises to 0.8% in AustraliaCET1 Ratio of 11.9%Aug 21 (Reuters) - Westpac Banking Corp (WBC.AX), Australia's third-largest lender, on Monday posted a quarterly cash profit of A$1.8 billion ($1.15 billion), as increased competition for home lending squeezed margins. Australia's major banks have all flagged stiff competition in the mortgage space, along with higher expenses as inflationary pressures weigh. Sydney-based Westpac said expenses for the second half to date were up 5% from the first half, fuelled by higher supplier costs and staff wages. In Australia, loan repayments past 90 days late rose to 0.80% in the three-months ended June, up 7 basis points from 0.73% in March, Westpac said. The lender reported a core net interest margin of 1.86% for the quarter, down 4 basis points from the first half of fiscal 2023.

Persons: David Gray, Riya Sharma, Archishma Iyer, Lisa Shumaker, Sam Holmes Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac Banking Corp, Westpac, Commonwealth Bank of Australia, Australia Bank, Thomson Locations: Sydney, Australia

☆ Australian state to pay $243 mln for withdrawing as 2026 Commonwealth Games host
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Aug 19 (Reuters) - Australia's Victoria state will pay A$380 million ($243 million) to Commonwealth Games organisers, Victoria Premier Daniel Andrews said on Saturday, after it withdrew as 2026 event host citing a projected cost blowout. In a joint statement issued by Andrews on Saturday, the Commonwealth Games Federation, Commonwealth Games Federation Partnerships, Commonwealth Games Australia and Victoria said they had "settled all their disputes regarding the cancellation of the multi-hub regional Victoria 2026 Commonwealth Games". "The State of Victoria has agreed to pay the Commonwealth Games parties ... AUD $380 million," the statement said. "The parties also agreed that the multi-hub regional model was more expensive to host than the traditional models." ($1 = 1.5620 Australian dollars)Reporting by Sam McKeith in Sydney; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Victoria Premier Daniel Andrews, Andrews, Victoria, Sam McKeith, Sonali Paul Organizations: SYDNEY, Commonwealth Games, Victoria Premier, Victoria, Commonwealth Games Federation, Commonwealth Games Federation Partnerships, Commonwealth Games Australia, Thomson Locations: Victoria, Alberta, Sydney

Two of Australia’s largest grassroots Indigenous football bodies – Indigenous Football Australia (IFA) and the Australian Indigenous Football Council (AIFC) – say there’s no funding for Indigenous football in Legacy ’23, the 357 million Australian dollar ($228 million) post-tournament fund dedicated to growing soccer in Australia. By contrast, the AIFC oversees state and territory Indigenous football councils and organizes the First Nations Indigenous Football Championships and teams who play as the Indigenous Roos and Koalas. The AIFC recently signed a “Football Treaty” with New Zealand equivalent, Māori Football Aotearoa, and Gilbert wants to create a World Indigenous Football Council and Indigenous World Cup, independently of FIFA. Pickering-Parker seems more hopeful that the World Cup will bring more funding to his small team of volunteers: “Right now. If hosting a Women’s World Cup isn’t going to do it, I don’t know what else is,” she said.

Persons: “, that’s, it’s, ”, Ros Moriarty, James Johnson, Karen Menzies, John Maynard, “ I’ll, I’m, I’ll, Maynard, –, who’ve, Asanka Brendon Ratnayake, Moriarty Football, John’s, Moriarty, ” Lawrence Gilbert, Gilbert, ” John Moriarty, John Moriarty, Johnson, We’ve, It’s, Jennifer Pickering, Tai Tokerau, “ You’re, ” Pickering, Claudia Bunge, Michaela Foster, Mathias Bergeld, Phillip Pickering, Parker, Pickering, Kyah Simon, who’s, Lydia Williams, Williams, ” Williams, Matt King, Australia’s, That’s, crowdfunding, NIAG, we’ve, Menzies, we’re, … Organizations: Sydney CNN —, Indigenous Football Australia, IFA, Australian Indigenous Football Council, Indigenous, Moriarty Foundation, Football Australia, CNN Sport, FIFA, Indigenous Advisory, CNN, Aboriginal Soccer Tribe, UNICEF Australia First Nations, Aboriginal, Torres Strait, Elders, Commonwealth, First, First Nations, Reuters, Australian, soccer team, ” John Moriarty Football, New South, Nations Indigenous Football, Indigenous Roos, Treaty, Māori Football Aotearoa, Indigenous Football Council, Nations Australian, Nations, . New Zealand, ”, New Zealand Football, AFL, Australian Football League, Sydney Football Stadium Locations: Australia, New Zealand, Brisbane, New South Wales, Koalas, Tai, New, ., Norway, Kalgoorlie, Western Australia, Perth, “

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