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☆ Biden administration announces new financial strike force to curb deadly fentanyl trade
▼ + stars: | 2023-12-04 | by ( Sam Fossum | ) edition.cnn.com time to read: +5 min

“The Treasury Department’s Counter-Fentanyl Strike Force will allow us to bring the Department’s unrivaled expertise in fighting financial crime to bear against this deadly epidemic. The strike force will be led by the department’s top sanctions official, Brian Nelson, and the chief of the Internal Revenue Service’s criminal investigations unit, James Lee. It will “redouble Treasury’s existing work streams, including using financial intelligence to understand risks and map transnational criminal organization (TCO) financial networks,” according to a news release. Several key units within the Treasury Department that specialize in financial crimes, sanctions, and tracking terrorist and illicit financing will be part of the new strike force. The new strike force will also help streamline the Treasury Department’s efforts to coordinate with local and federal law enforcement bodies on potential financial leads.

Persons: Janet Yellen, Brian Nelson, James Lee, ” Nelson, Xi Jinping, Joe Biden, Biden, Yellen, Nelson, “ Organizations: Washington CNN, Monday, Treasury Department, Treasury, Network, Foreign Assets Control, of Intelligence, US Treasury Department, Strike Force, Department, Drug Enforcement Agency, Department of Homeland Security, Department of Justice, US Centers for Disease Control, CNN, Mexican, Biden Locations: United States, China, Ukraine, Mexico

☆ Supply chains, trade top agenda for Yellen Mexico trip
▼ + stars: | 2023-12-04 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen hosts Leaders from Americas Partnership for Economic Prosperity (APEP) countries at the Treasury Department in Washington, DC, on November 3, 2023. WASHINGTON — Treasury Secretary Janet Yellen will travel to Mexico City this week to strengthen economic ties with America's top trading partner, the Treasury Department said Monday. Yellen will meet with Mexican counterparts, including President Andres Manuel Lopez Obrador, from Dec. 5-7 on creating supply chains spanning the bordering nations to spur job growth and bolster economic security, according to a release. Imports and exports between the U.S. and Mexico reached nearly $600 billion so far in 2023, per the International Trade Administration, and exceeded $850 billion in 2022, according to Treasury. Direct investments between the nations include manufacturing, wholesale trade, real estate and finance and insurance, according to the U.S. Trade Representative.

Persons: Janet Yellen, Yellen, Andres Manuel Lopez Obrador, Joe Biden, Xi Jinping Organizations: Americas Partnership, Economic Prosperity, Treasury Department, WASHINGTON —, Mexican, U.S, International Trade Administration, Treasury, U.S . Trade, Jalisco Nueva Generacion, U.S . Locations: Washington ,, Mexico City, Mexico, United States, Jalisco, U.S

☆ The Books That Explain 2023 - The New York Times
▼ + stars: | 2023-12-03 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

“Chip War” is a reminder of the physical artifacts that underlie what we so wrongly describe as the cloud. The title of Miller’s book is, for now, rhetorical, but I found myself wondering how long that would remain the case. There are more histories of this era of American politics than any bookshelf can hold. The apogee of America’s welfare state, with all its limitations, was coterminous with the height of the Cold War. But I believe a new one has already begun, and it is being shaped more by China than by any American politician, including Trump or Biden.

Persons: Chris Miller’s, ” Miller, Miller, Biden, Trump, Gary Gerstle’s, ”, Gerstle Organizations: Deal, Biden, Soviet Union, Trump Locations: United States, China, Taiwan, Outmaneuvering China, Soviet

☆ McCarthy, Laboring to Adjust to Life After the Speakership, Eyes Exiting Congress
▼ + stars: | 2023-12-02 | by ( Annie Karni | More About Annie Karni | ) www.nytimes.com time to read: +2 min

“His life has been building the Republican majority and attaining the third-highest office in the land. Many colleagues still consider him a skillful convener of people with institutional knowledge about the workings of a Republican majority he helped build. But his inexperienced successor, Speaker Mike Johnson of Louisiana, has not sought him out for any advice on managing the fractious Republican conference. Mr. McCarthy has labored to acclimate. “After any stressful situation, it takes a while for the body to normalize,” Mr. McHenry said of the former speaker.

Persons: ”, Patrick T, McHenry, McCarthy’s, “, McCarthy, Mike Johnson of, Johnson, Mr Organizations: Republican, Capitol, Oxford Union, New York Times Locations: McHenry of North Carolina, Mike Johnson of Louisiana

☆ Here’s how activist Elliott could build shareholder value amicably at Phillips 66
▼ + stars: | 2023-12-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Phillips 66 is an energy manufacturing and logistics company. Percentage Ownership: n/a Average Cost: n/a Activist Commentary: Elliott is a very successful and astute activist investor. On Wednesday, Elliott sent a letter to Phillips 66, announcing that it has taken a $1 billion stake and is seeking up to two board seats. While we do not generalize like that, it is hard to imagine a more amicable and constructive activist campaign than what Elliott is proposing at Phillips 66. When implemented, Phillips 66 saw costs increase relative to peers, burning shareholders' confidence in the management team's ability to achieve its goals.

Persons: Phillips, Elliott, Mark Lashier, Ken Squire Organizations: Phillips, Chevron Phillips Chemical, Valero Energy, Marathon Petroleum, Valero, 13D Locations: Chevron, U.S, Europe, COOs

☆ SpaceX rockets are burning bright red holes in Earth's atmosphere and they're becoming too common for astronomers' comfort
▼ + stars: | 2023-11-30 | by ( Maiya Focht | Lloyd Lee | ) www.businessinsider.com time to read: +5 min

SpaceX rockets are ripping brightly colored holes in the Earth's ionosphere. AdvertisementSpaceX rocket launches are punching holes in part of Earth's atmosphere, called the ionosphere, and it's a beautiful sight to behold. The holes appear as bright red blobs in the sky. Recently, these spherical red blobs have been popping up over MacDonald Observatory in Texas, which has astronomers slightly worried for the future. AdvertisementHow ionospheric holes could disrupt astronomical observationsThese bright red blobs don't last long.

Persons: —, Stephen Hummel, Spaceweather.com, Hummel, Jeffrey Baumgardner, Baumgardner Organizations: SpaceX, Service, MacDonald Observatory, McDonald Observatory, Center for Space Physics, Boston University, Saturn, Kennedy Space Center, Science Magazine, McDonald Locations: Texas, California, Florida

China has decommissioned 70.45 gigawatts (GW) of coal-fired plants in the last decade, and is building far more renewable energy capacity than any other country. Coal power makes up about 70% of emissions in China, which has committed to being carbon neutral by 2060. After 2025, it is unclear whether China will approve new coal plants. But like many cities in China's coal country, coal revenues and jobs are an incentive to keep building. Several workers in Yulin expressed little doubt about whether new coal plants make economic and environmental sense.

Persons: Li, Gao Yuhe, Xu Mingjun, China's, Xie Zhenhua, Yuheng, Duan, Colleen Howe, Ella Cao, David Stanway, Tony Munroe, Gerry Doyle Organizations: Reuters, Greenpeace, Shenhua Energy, Global Energy Monitor, Development and Research Center, Shaanxi Yulin Energy, Shaanxi Daily, Thomson Locations: YULIN, China, Yulin, Yangquan, Shanxi, Dubai, Ukraine, Canada, Shaanxi, China's, Beijing, Singapore

☆ US refiner Phillips 66 retains big-name advisers for Elliott duel
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

U.S. oil company Phillips 66 headquarters in Houston, Texas, U.S., September 27, 2020. REUTERS/Gary McWilliams/File Photo Acquire Licensing RightsNov 30 (Reuters) - U.S. oil refiner Phillips 66 (PSX.N) has retained two top financial and legal advisers for its duel with activist investor Elliott Investment Management, according to a person familiar with the matter. Elliott wants two board seats to be filled by executives with refining experience and faster action on restructuring the fourth-largest U.S. oil refiner to improve its lagging financial performance, the New York activist said on Wednesday. Phillips 66 is relying on financial and legal advice from Goldman Sachs (GS.N) and Wachtell, Lipton, Rosen & Katz, the person familiar with the matter said. A Phillips 66 spokesman declined to comment on the advisers or whether it has new meetings scheduled with the activist.

Persons: Gary McWilliams, refiner Phillips, Elliott, Phillips, Goldman Sachs, Lipton, Katz, Tudor Pickering Holt, Matthew Blair, Blair, David French, Chizu Organizations: Phillips, REUTERS, Elliott Investment Management, New, Wachtell, Rosen, Tudor Pickering Holt & Co, Chevron, Thomson Locations: Houston , Texas, U.S, New York, Houston, CPChem

☆ Biden administration proposes biggest changes to lead pipe rules in more than three decades
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +6 min

It is the strongest overhaul of lead rules in more than three decades, and will cost billions of dollars. The Biden administration has previously said it wants all of the nation's roughly 9 million lead pipes to be removed, and rapidly. Lead pipes connect water mains in the street to homes and are typically the biggest source of lead in drinking water. The Biden administration says investment is vital to fix this injustice and ensure everyone has safe, lead-free drinking water. A home with dangerous lead levels can be next to a house with no lead exposure at all.

Persons: Biden, Mona Hanna, Radhika Fox, Erik Olson, Fox, Donald Trump's Organizations: Environmental Protection Agency, EPA, Natural Resources Defense Council, The Association of Metropolitan Water Agencies Locations: Flint, Flint , Michigan, U.S, Washington, Michigan, Benton Harbor , Michigan, Newark , New Jersey

☆ U.S. tap water has a $47 billion forever chemicals problem
▼ + stars: | 2023-11-30 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

The U.S. Environmental Protection Agency is adding some "forever chemicals" to the list of toxins that must be reported by drinking water utilities. That's why they got the nickname 'forever chemicals,'" explained Tom Neltner, senior director of safer chemicals at the Environmental Defense Fund. About 300 million people in the U.S. receive their water from a public water system, according to the EPA. At least 45% of tap water in the U.S. is known to have PFAS in it, according to the U.S. Geological Survey. Watch the video above to learn more about how safe tap water is in the U.S.

Persons: Radhika Fox, they're, Tom Neltner, Cheryl Norton, Fox, Neltner, Sydney Evans, Evans, Norton Organizations: Environmental Protection Agency, EPA's, Water, CNBC, Environmental Defense Fund, Utah Department of Environmental, . Geological Survey, Environmental Locations: U.S

It is the strongest overhaul of lead rules in more than three decades, and will cost billions of dollars. The Biden administration has previously said it wants all of the nation’s roughly 9 million lead pipes to be removed, and rapidly. Lead pipes connect water mains in the street to homes and are typically the biggest source of lead in drinking water. The Biden administration says investment is vital to fix this injustice and ensure everyone has safe, lead-free drinking water. A home with dangerous lead levels can be next to a house with no lead exposure at all.

Persons: Biden, ”, Mona Hanna, Radhika Fox, Erik Olson, “ We’re, Fox, Donald Trump's, ” ___ Matthew Daly Organizations: Environmental Protection Agency, EPA, Natural Resources Defense Council, The Association of Metropolitan Water Agencies, Washington , D.C, Associated Press, Walton Family Foundation, AP Locations: U.S, Flint , Michigan, Washington, Flint, Michigan, Benton Harbor , Michigan, Newark , New Jersey, Washington ,

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

☆ Chemours, DuPont, Corteva reach $110 mln 'forever chemicals' Ohio settlement
▼ + stars: | 2023-11-29 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsCompaniesLaw Firms 3M Co FollowChemours Co FollowCorteva Inc Follow Show more companiesNov 29 (Reuters) - Chemours (CC.N), Dupont De Nemours (DD.N) and Corteva (CTVA.N) have reached a settlement agreement with the U.S. state of Ohio for $110 million to resolve claims associated with toxic "forever chemicals", the companies said on Wednesday. Chemours said it would be responsible for half of the settlement costs, while DuPont would provide about $39 million. 3M (MMM.N) agreed in June to pay $10.3 billion to settle hundreds of claims that the company polluted public drinking water with the chemicals, while Chemours, DuPont and Corteva reached a similar deal with U.S. water providers for $1.19 billion. Reporting by Tanay Dhumal and Sourasis Bose in Bengaluru; Editing by Shilpi Majumdar and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Dupont De Nemours, Chemours, Corteva, Tanay Dhumal, Sourasis Bose, Shilpi Majumdar, Devika Organizations: REUTERS, U.S, DuPont, Washington Works, Ohio -, Thomson Locations: Dupont, Geneva, Switzerland, U.S ., Ohio, Ohio - West Virginia, U.S, Bengaluru

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ 6 longevity tips Charlie Munger believed in for a long and happy life
▼ + stars: | 2023-11-29 | by ( Kate Hull | ) www.businessinsider.com time to read: +4 min

Berkshire Hathaway vice chairman Charlie Munger has died at 99. Munger was known for his pragmatic life advice, including tips for longevity. AdvertisementCharlie Munger, vice chairman of Berkshire Hathaway and right-hand man to Warren Buffett, died Tuesday. To remain cheerful, Munger said that it's key to let go of negative emotions. Buffett also credited Munger with the success of Berkshire Hathaway, saying it was "built to Charlie's blueprint."

Persons: Charlie Munger, Munger, —, Berkshire Hathaway, Warren Buffett, Forbes —, Still, Warren Buffet, Buffett, Candy Organizations: Berkshire Hathaway, Service, Berkshire, CNBC, Harvard, Daily Locations: Omaha, Munger munched

MOSCOW, Nov 29 (Reuters) - Russia's industrial output growth slowed in October as the unemployment rate dropped to a record low 2.9%, federal statistics showed on Wednesday, with deepening labour shortages showing signs of cooling Moscow's military production capacity. Analysts say wages are growing faster than productivity and the central bank has warned of the impact it has on inflation. Industrial output rose 5.3% year-on-year in October, down from a 5.6% rise in September and driven once again by military production. Rosstat said industrial output had grown since March at a monthly rate of more than 5% compared with the corresponding months of 2022. But when discounting seasonal factors, industrial production dropped 0.4% in October, Rosstat said.

Persons: Maxim Oreshkin, Vladimir Putin, Central Bank Governor Elvira Nabiullina, Rosstat, Alexander Marrow, Darya, Alex Richardson, Alexandra Hudson Organizations: Kremlin, Reuters, VW, Central Bank Governor, Alexandra Hudson Our, Thomson Locations: MOSCOW, Russia, Volkswagen's, Moscow, Ukraine, Putin's Russia

☆ Barclays reveals 10 debt-laden global stocks at risk from higher interest rates
▼ + stars: | 2023-11-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Barclays has identified the European stocks that are most at risk of taking a hit to profits over rising interest payments for debt over the next two years. During the coronavirus pandemic, central banks cut interest rates to historic lows, enabling companies to borrow debt at very favorable rates. The table below shows the 10 stocks Barclays expects to have the biggest increase in interest costs through to 2025. Since interest costs are integral to real estate business models, the impact on margins and profits could be much more severe, the bank's analysts said. The Barclays team is confident that while interest rates can hurt company bottom lines, there was "scant" evidence that showed there was systemic risk.

Persons: Fastighets Balder, Castellum, Vonovia, Matthew Joyce, Zoso Davies Organizations: Barclays, Premier, Whitbread, BASF, Dassault Systemes Locations: Swiss

☆ 3M, DuPont defeat massive class action over forever chemicals
▼ + stars: | 2023-11-27 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 27 (Reuters) - A U.S. appeals court on Monday handed 3M (MMM.N), Corteva Inc (CTVA.N) subsidiary E.I. Circuit Court of Appeals vacated a lower court's approval of the massive class action, which included virtually every resident of Ohio and put considerable legal pressure on the chemical manufacturers to settle the plaintiffs' claims. The appeals court instructed the lower court to dismiss Hardwick's lawsuit, which had aimed to force the companies to pay for studies analyzing the health impacts of PFAS. The lawsuit also sought to establish a fund to monitor Ohio residents for health impacts from PFAS exposure. The chemicals are often referred to as forever chemicals because they do not easily break down in nature or in the human body.

Persons: Andrew Kelly, du Pont, du Pont de Nemours, Kevin Hardwick, Clark Mindock, Alexia Garamfalvi Organizations: DuPont de Nemours , Inc, New York Stock Exchange, REUTERS, Corteva Inc, du Pont de, du Pont de Nemours and, Circuit, DuPont, Thomson Locations: Manhattan , New York City, U.S, Ohio, Cincinnati , Ohio, Lincoln

☆ An island vacation with no mosquito bites – and no chemicals, either
▼ + stars: | 2023-11-27 | by ( Regan Stephens | ) edition.cnn.com time to read: +6 min

Soneva Fushi, a resort on the private Kunfunadhoo Island in the Maldives, has spent years working to eradicate these pests. Soneva has partnered with the Germany-based company Biogents, which has developed mosquito traps that rely on environmentally friendly attractants. A Biogents-created mosquito trap at Soneva Fushi Courtesy Soneva FushiWhat’s more, these techniques are typically only useful for eliminating adult mosquitoes. An overwater bungalow at Soneva Fushi Sandro Bruecklmeier/Courtesy Soneva FushiThe pest-combatting program has been a success, according to Soneva. The resort chain has gifted mosquito traps to Parliament in Malé, the country’s capital, and trained staffers on how to use them.

Persons: Soneva, “, ”, Arnfinn Oines, Oines, Fushi Sandro Bruecklmeier, Fushi, Sonu, Eva Shivdasani, Soneva Jani Organizations: CNN Locations: Maldives, Germany, GAT, Kunfunadhoo, Malé, Medhufaru, Noonu

KANEOHE, Hawaii (AP) — The flight data recorder of a large U.S. Navy plane that overshot a runway and ended up in the water near Honolulu this week has been recovered as the military continues to plan for the aircraft’s removal. Sailors from a mobile diving and salvage unit retrieved the data recorder Thursday and conducted a hydrographic survey to assess the P-8A plane's structural integrity. The plane belongs to the Skinny Dragons of Patrol Squadron 4, stationed at Whidbey Island in Washington state. Patrol squadrons were once based at Kaneohe Bay but now deploy to Hawaii on a rotating basis. Another crew from Washington state, the VP-40 Fighting Marlins, arrived Thursday to assume homeland defense coverage, the Navy said.

Organizations: U.S . Navy, Navy’s Aircraft, Marine Corps Base Hawaii, Navy, Boeing, Patrol Squadron, Patrol, Fighting Marlins Locations: KANEOHE, Hawaii, U.S, Honolulu, Kaneohe Bay, Kaneohe, Oahu, Whidbey, Washington

☆ The little-known agriculture stocks shaping the future of alternative protein
▼ + stars: | 2023-11-25 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Not every corner of the plant-based food industry has been burned. After the boom-and-bust cycle of Beyond Meat stock, analysts have wondered what comes next for the plant-based food space. The alternative protein market Beyond Meat's struggles have left some skeptical about which companies have what it takes to meet the needs of consumers who want to avoid animal-based products for health or environmental reasons. After topping $230 per share at its highest point, Beyond Meat stock now trades below $7. There's a business argument beyond the alternative protein market that can bode well when forecasting demand, Morningstar's Goldstein said.

Persons: Kristen Owen, Oppenheimer, Morgan Stanley, Michael Canfield, FactSet, Canfield, Corteva, Morningstar, Seth Goldstein, Goldstein, Vincent Andrews, Owen, Zepbound, milks, bode, Morningstar's Goldstein, Archer, Michael Bloom Organizations: Good Food Institute, Daniels, Midland Locations: Green Plains, U.S, Green, There's

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 21, 2023. The pan-European STOXX 600 (.STOXX) rose 0.4% to close out the week with a 0.9% gain as investors focused on corporate earnings and the prospect of rate cuts. Euro zone government bond yields were set to close the week higher as investors balanced recession fears against comments from European Central Bank policymakers pushing against market expectations for rate cuts in 2024. For the week, real estate (.SX86P) shares lagged while media (.SXMP) and retail stocks (.SXRP) were the top performers. Reporting by Ankika Biswas and Bansari Mayur Kamdar in Bengaluru; Editing by Sonia Cheema, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Wintershall, they're, Giles Coghlan, Coghlan, Christian Lindner, Germany's DAX, Ankika Biswas, Bansari, Sonia Cheema, Kirsten Donovan Organizations: REUTERS, Staff, BASF, U.S, European Central Bank, Shoppers, Bloomberg News, Abu, Abu Dhabi National Oil Co, Barclays, German, Thomson Locations: Frankfurt, Germany, Europe, Abu Dhabi, Israel, Bengaluru

These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe

When Daniel Skousen scrubs at the ash and soot covering his Maui home, he worries about the smell. Crews have installed air quality monitors throughout town and are spraying a soil sealant to prevent toxic ash from being washed into the ocean or blowing around. The Hawaii Department of Health's Environmental Health Services Division also told Skousen's attorney it had no records about residential testing of contaminants to release. “If it smells like burned plastic or burned electrical cables, then probably those chemicals are in the air and not healthy,” Hertz-Picciotto said. Whether a home can be made safe enough for residency comes down in part to the resident's risk tolerance, Hayes said.

Persons: Daniel Skousen, ”, Bill Hayes, Hayes, Char, ” Hayes, Crews, Kellen Ashford, Shawn Hamamoto, ‘, ’ ”, Edward Neiger, ” Ashford, Andrew Shoemaker, it's, Shoemaker, Dioxins, Skousen, Irva Hertz, Davis, Picciotto, ” Hertz, He’s Organizations: Hawaii Department of Education, Environmental, Agency, Associated Press, Hawaii Department of Health, Hawaii Department of, Environmental Health, Health Department, U.S . Army Corps of Engineers, EPA, Lahaina Civic Center, World Health Organization, University of California, Hertz, Cooperative Institute for Research, Environmental Sciences, University of Colorado Locations: Lahaina, Boulder County , Colorado, Maui, ” State, Skousen, “, University of Colorado Boulder, Boulder

OPEC and the IEA expect China's oil demand to show growth in 2023 of 7.6% and 12.1%, respectively. OPEC has dismissed fears of that demand growth for oil in China is fading, describing negative sentiment as "overblown" in a recent report. OPEC's forecasts show China accounting for 24.6% of global oil demand growth in the first half of 2024, according to Reuters calculations. Consultancies Wood Mackenzie, Rystad Energy and Energy Aspects respectively forecast China's first-half 2024 oil demand to grow by 3.7%, 4.0% and 4.4% versus the same period in 2023. Energy Aspects expects first-half diesel demand to be flat from a year earlier.

Persons: Aly, Consultancies Wood Mackenzie, Rystad, Lin Ye, Xia, Andrew Hayley, Simon Cameron, Moore Organizations: REUTERS, Rights, of Petroleum, International Energy Agency, OPEC, Rystad Energy, JET, Reuters Graphics Reuters, National Bureau of Statistics, Thomson Locations: Zhuhai, China, Rights BEIJING, OPEC, Russia, Beijing

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