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☆ Pope voices his concern for imprisoned Nicaraguan bishop
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

VATICAN CITY, Feb 12 (Reuters) - Pope Francis on Sunday spoke of his concern over the imprisonment of Nicaraguan Bishop Rolando Alvarez, who was sentenced to more than 26 years in prison in the Latin American country. The Pope's comments about Alvarez, who is a vocal critic of Nicaraguan President Daniel Ortega, were made in his weekly blessing to pilgrims and tourists in St. Peter's Square. Ortega has accused Catholic leaders of attempting to overthrow him after protests that killed about 300 people in 2018. Since then, the government of the former Cold War-era Marxist rebel has expelled Catholic nuns and missionaries. Alvarez was convicted on Friday of treason, undermining national integrity and spreading false news, among other charges.

☆ Explosions in Kyiv as Ukraine's power grid hit by Russian missiles
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] People take shelter inside a metro station during massive Russian missile attacks in Kyiv, Ukraine February 10, 2023. REUTERS/Vladyslav MusiienkoKYIV, Feb 10 (Reuters) - Several explosions could be heard in Kyiv as officials reported high-voltage facilities across Ukraine being hit by Russian missile attacks on Friday morning. Ukraine's power grid operator Ukrenergo said that several facilities in eastern, southern and western Ukraine had been hit, causing disruption to power supply. The mayor of eastern Ukraine's largest city, Kharkiv, confirmed an infrastructure facility there had been hit and warned of possible power outages as a result. Ukrenergo said Russia attacked Ukraine's grid overnight with drones and missiles, targeting power stations and transmission facilities.

☆ Islandsbanki enters early merger discussions with Kvika banki
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, Feb 10 (Reuters) - Icelandic bank Islandsbanki (ISB.IC) has entered preliminary discussions with smaller lender Kvika banki (KVIKA.IC) on a potential merger, it said in a statement late on Thursday. "The board of directors believes that a combination of the two companies could offer opportunities for increased operational efficiency and value creation," Islandsbanki said without disclosing any financial details. Islandsbanki, among the country's three largest banks, said a merger would increase its balance sheet by close to 20%. Kvika banki proposed the merger last week. Reporting by Nikolaj Skydsgaard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Brent crude settled up $1.40, or 1.7%, to $85.09 a barrel while U.S. West Texas Intermediate (WTI) crude settled up $1.33, or 1.7%, to $78.47. Investors hope less aggressive U.S. interest rate increases will help the world's biggest economy dodge a sharp economic slowdown or recession that would hit oil demand. "A looming oil demand surge together with lacklustre global supply growth will ensure that the oil balance tightens over the coming months," said Stephen Brennock of oil broker PVM. The earthquake that struck Turkey and Syria on Monday stopped crude oil flows from Iraq and Azerbaijan out of the Turkish port of Ceyhan. U.S. Energy Information Administration data showing U.S. oil production rose last week to the highest level since April 2020, however, limited oil's gains.

☆ Italian prosecutors drop Congo case against Eni CEO
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

MILAN, Feb 8 (Reuters) - Milan prosecutors do not plan to pursue a case against the head of Italian energy group Eni (ENI.MI) over oil permits granted in Congo Republic, they said on Wednesday. The magistrates formally requested the dismissal of a charge against Eni CEO Claudio Descalzi for alleged failure to declare a conflict of interest. They also asked that charges of alleged undue inducement be dropped against Descalzi's wife, Marie Madeleine Ingoba, and six other people including former Eni executives. "Eni CEO's non-involvement in the allegations made long ago by the public prosecutor is now confirmed," the company added. Eni has said it had no role in the allocation of licences or in the Congo Republic government's choice of local partner.

☆ China's JD.com plans to integrate ChatGPT methods into its product services
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 8 (Reuters) - Chinese e-commerce company JD.Com (9618.HK) plans to integrate ChatGPT methods and technical points into its product services, it said on Wednesday. Rival Alibaba Group (9988.HK) is also developing a ChatGPT-style artificial intelligence (AI) tool that it said was undergoing internal testing. Reporting by Sophie Yu in Beijing and Brenda Goh in Shanghai Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Bassino pips Shiffrin to win Super-G gold
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Italy's Marta Bassino edged out American Mikaela Shiffrin to win the women's Super-G gold at the World Ski Championships in Courchevel, France, on Wednesday, winning the title by 0.11 seconds. Bassino has six World Cup gold medals to her name in the giant slalom but had never topped the podium in any other World Cup event. However, she did win gold in the parallel giant slalom at the 2021 World Ski Championships. Bassino is the second Italian to win a gold medal at this year's championships after Federica Brignone won the women's combined event on Monday. Switzerland's Lara Gut-Behrami, the defending champion and one of the pre-race favourites with 18 Super-G World Cup victories, could only manage sixth placed.

☆ Barclays replaces co-heads of equities business
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 6 (Reuters) - Barclays' (BARC.L) co-heads of equities, Todd Sandoz and Paul Leech, have stepped down from their roles and left the bank, a company spokesperson said on Monday, as the British bank continues a reshuffle of its investment bank's management. Stephen Dainton, who has run the business in the past, has taken over as interim global head of equities, the spokesperson said, in addition to keeping his current role as co-head of global markets. The bank now needs a single leader for the business to keep growing market share and returns, the memo said. Barclays is conducting a search for a permanent leader for the equities business, it added. The move is the latest in a series of changes at the top of Barclays' investment bank, after it last month appointed former Credit Suisse dealmaker Cathal Deasy and Taylor Wright as co-heads of investment banking.

☆ Oil rises 1% in choppy trade on China demand hopes
▼ + stars: | 2023-02-06 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

The International Energy Agency (IEA) expects half of this year's global oil demand growth to come from China, the agency's chief said on Sunday, adding that jet fuel demand was surging. A stronger dollar typically reduces demand for dollar-denominated oil from buyers paying with other currencies. Supply concerns continued to affect markets as operations at Turkey's oil terminal in Ceyhan halted after a major earthquake hit the region. The BTC terminal, which exports Azeri crude oil to international markets, will be closed on Feb. 6-8 while operators assess earthquake damage, a Turkish shipping agent said. However, a preliminary Reuters poll showed that U.S. crude oil stockpiles likely rose by about 2.2 million last week.

☆ Bosch says Chinese recovery is key to 2023
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

BERLIN/STUTTGART, Feb 3 (Reuters) - German automotive supplier Bosch considers recovery in China as key to success this year, it said on Friday, steering clear of concrete forecasts despite reporting a more than 15% jump in full-year operating profit. It was hugely dampened last year," Chief Executive Stefan Hartung said of the Chinese market, adding that he expects the European and U.S. economies to weaken because of rising interest rates. Demand in 2022 remained weaker than before the pandemic, but Bosch sales benefited from strong demand for climate-friendly technology from carmakers and those seeking alternative fuel sources to Russian gas, the private company said. "Despite semiconductor shortages and a weak economy, all business sectors were able to increase their sales," said finance chief Markus Forschner. Pushed by Germany's attempt to wean itself off Russian gas, demand for energy efficient heat pumps rose last year, with sales jumping 50%, Bosch said, adding that it will expand its manufacturing capacity for heat pumps in Europe.

☆ Airbus and Qatar Airways settle bitter A350 jet row
▼ + stars: | 2023-02-02 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

The "amicable and mutually agreeable settlement" ends a $2 billion row over surface damage on the long-haul jets. The spat led to the withdrawal of billions of dollars' worth of jet deals by Airbus and prompted Qatar to increase purchases from Boeing. The deal heads off what amounted to an unprecedented public divorce trial between heavyweights in the normally tight-knit and secretive $150 billion jet industry. Airbus' decision to revoke that order, separate from the disputed A350 contract, had been criticised by global airlines group IATA. Airbus said it had done its best to avoid pushing Qatar too far back in the queue.

☆ Berkshire Hathaway sells $44.9 mln of shares in China's BYD
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rick Wilking/File PhotoFeb 2 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.55 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$351.81 million ($44.85 million), a stock exchange filing showed. The sale lowered Berkshire's holdings in BYD's issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to the Hong Kong Stock Exchange showed on Thursday. Berkshire, which started selling the BYD shares in late August, has accumulatively reduced its holding by more than a third. Buffett's company acquired 225 million BYD shares in 2008, giving it a 7.73% stake, equal to the 20.49% stake in H shares, according to BYD's annual report. ($1 = 7.8434 Hong Kong dollars)Reporting by Twinnie Siu and Zhang Yan; editing by Jason Neely Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Shell still taking LNG cargoes from Russia under Novatek contract
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 2 (Reuters) - Shell (SHEL.L) is still receiving cargoes of liquefied natural gas (LNG) from Russia under its long-term contract with Novatek (NVTK.MM), a Shell spokesperson said on Thursday. The world's largest LNG trader agreed a more than 20-year deal in 2015 for Novatek to supply around 900,000 tonnes per annum from the Yamal LNG plant in Siberia. Shell said in 2022 it would exit all its Russian operations, including a major LNG plant in the Sakhalin peninsula in the eastern flank of the country after Russia invaded Ukraine. However, Russia supplied Europe with some 17 million tonnes of LNG in 2022, up about 20% from 2021, Refinitiv Eikon data show. Novatek, Russia's largest LNG producer, provided most of the supplies, having shipped 20.8 million tonnes from the Yamal LNG project - including to other customers - and 700,000 tonnes from Kriogaz-Vysotsk on the Baltic Sea, according to Refinitiv Eikon.

REUTERS/Thilo SchmuelgenSummarySummary Companies Fourth-quarter profit of $10 bln beats estimatesShell to repurchase $4 bln in sharesLONDON, Feb 2 (Reuters) - Shell (SHEL.L) delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia's invasion of Ukraine allowed it to hand shareholders unprecedented returns. Shell also posted record fourth-quarter profit of $9.8 billion on the back of a strong recovery in earnings from liquefied natural gas (LNG) trading, beating analyst forecasts for an $8 billion profit. Annual profit reached $39.9 billion, more than doubling from a year earlier and far exceeding the previous record of $31 billion in 2008. Shell said its capital expenditure in 2023 will reach $23 billion to $27 billion, in line with previous guidance. The surge in revenue helped Shell sharply reduce its debt to $44.8 billion at the end of 2022 from $52.6 billion a year earlier.

Brent crude futures were down $2.6, or 3.5%, at $82.50 a barrel by 12:50 p.m. West Texas Intermediate (WTI) U.S. crude futures fell $2.67, or 3.4% to $76.20. U.S. crude oil and fuel inventories rose last week to their highest levels since June 2021, the Energy Information Administration said, as demand remained weak. "The market is reacting to the report that indicates there isn't demand for crude oil or fuels," said John Kilduff, partner at Again Capital LLC in New York. Elsewhere, Russia's Deputy Prime Minister said he expected oil demand to rise on the back of Chinese economic activity.

☆ Dollar slips ahead of Fed rate decision
▼ + stars: | 2023-02-01 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

LONDON, Feb 1 (Reuters) - The dollar weakened slightly against the euro ahead of Wednesday's eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. After a series of jumbo rate increases in 2022 to tame inflation, the market expects the Fed benchmark interest rate to be raised by a quarter of a percentage point to 4.75%. That would be the smallest increase since the central bank began raising rates 10 months ago. Carol Kong, currency strategist at Commonwealth Bank of Australia, said: "Recent progress on inflation has encouraged market participants to expect the Fed to quickly pivot from interest rate hikes to interest rate cuts." EURO ZONE INFLATIONInvestors said that euro zone inflation data is unlikely to affect the European Central Bank's (ECB) monetary decision on Thursday.

☆ Airbus and Qatar may settle A350 row as early as today -sources
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 1 (Reuters) - Hopes are rising of a deal between Airbus (AIR.PA) and Qatar Airways as early as Wednesday to avert an unprecedented trial over the safety of the A350 jetliner and billions of dollars of cancelled orders, two people familiar with the matter said. France-based Airbus and Qatar Airways declined to comment. Qatar has challenged the world's largest planemaker over safety and taken it to court after cracks in the painted surface exposed gaps in a sub-layer of A350 lightning protection. Airbus has acknowledged quality flaws but insists the jets are safe and retaliated by revoking dozens of plane orders from Qatar. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Russia approves Veon's sale of Vimpelcom to management -RBC, citing sources
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - A Russian government commission has approved the sale of telecoms company Vimpelcom to senior managers by its Dutch owner Veon (VON.AS), the Russian economic news outlet RBC reported, citing two unnamed sources. The disposal is notable in that Veon, unlike many Western investors, is receiving money for its asset - one that accounts for about half of Veon's revenue. RBC reported that the deal had been amended to ensure all bondholders were treated equally. Veon declined to comment and no comment was immediately available from Vimpelcom or the Russian digital ministry. Writing by Kevin Liffey Editing by Barbara Lewis and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus and Qatar settle A350 jetliner row
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 1 (Reuters) - Airbus (AIR.PA) and Qatar Airways have settled a dispute over surface damage on grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial. The "amicable settlement" ends a $2 billion row over the safety of Europe's premier long-haul jet - an unprecedented public rift that had led Airbus to revoke dozens of other jet orders from Qatar ahead of a scheduled June court trial. The announcement comes after Reuters reported that a deal could be reached as early as Wednesday. Airbus has acknowledged quality flaws but insisted that the jets are safe. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus and Qatar Airways settle A350 dispute
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 1 (Reuters) - Airbus (AIR.PA) and Qatar Airways have settled a dispute over the degraded surface of grounded A350 jets, Airbus said on Wednesday, averting a potentially damaging UK court trial. The "amicable settlement" ends a bitter dispute over the safety of corrosion left exposed by cracked paint, which had led Airbus to revoke dozens of jet orders from the Gulf airline. Airbus said the deal was not an admission of liability by either party, both of whom would move forward as partners. Reuters reported earlier that a deal could be reached on Wednesday. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Jan 31 (Reuters) - Caterpillar Inc's (CAT.N) fourth-quarter earnings slid by 29%, the company reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether's margins. The Texas-based company noted that profit was also hit by a $925 million "goodwill impairment" charge and margin-eroding restructuring costs. Strong pricing that the company implemented over the past two years in an effort mitigate rising manufacturing costs have sustained top-line growth. Caterpillar's sales and revenue for the quarter rose 20% to $16.6 billion despite weaker sales in the Asia Pacific region. Operating profit rose 4% to 1.7 billion while free cash flow from the ME&T division came in at $5.8 billion.

☆ Airbus and Qatar edge towards agreement in A350 dispute - sources
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the Qatar Airways' airbus A350 parked outside Qatar Airways maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad CreidiPARIS, Jan 31 (Reuters) - Airbus (AIR.PA) and Qatar Airways are edging towards an agreement to settle a bitter dispute over grounded A350 jets, two people familiar with the matter said on Tuesday. "There will be an agreement," one of the sources said, while another cautioned that the talks were still ongoing. Airbus and Qatar Airways had no immediate comment. The dispute between two of aviation's largest players has led to the unprecedented cancellation of large-scale orders from Airbus, and extra business for its U.S. rival Boeing (BA.N).

☆ India to use emergency law to maximise coal power output -sources
▼ + stars: | 2023-01-30 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 30 (Reuters) - India plans to use an emergency law next month to force power plants that run on imported coal to maximise output, two government sources told Reuters on Monday, in preparation for expected record consumption this summer. Federal power ministry officials will work with those involved in debt restructuring of financially stressed power plants to make them functional, the sources said. India expects its power plants to burn about 8% more coal in the financial year ending March 2024, with increased economic activity and erratic weather to continue boost growth in demand for power. India's industrial western states Maharashtra and Gujarat, which have registered a steep rise in power demand in recent months, demanded invocation of the law, the sources said. Writing by Sudarshan Varadhan Editing by Toby Chopra and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Abu Dhabi's IHC plans to invest $381 mln in Adani Enterprises
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 30 (Reuters) - Abu Dhabi conglomerate International Holding Company (IHC.AD) on Monday said it would invest 1.4 billion dirhams ($381.17 million) in Adani Enterprises' (ADEL.NS) follow-on public offer. "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," IHC CEO Syed Basar Shueb said in a statement. IHC, Abu Dhabi's largest listed company, invested $2 billion in Adani Group companies last year, including Adani Enterprises. Adani Group has hit back at the report by Hindenburg Research published last week that flagged concerns about Adani Group's debt levels and the use of tax havens. Investors' response to Hindenburg's criticisms will be tested this week by Adani Enterprises' $2.5 billion follow-on share offering which closes on Tuesday.

☆ Delivery Hero's Glovo to lay off 250 employees worldwide
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

BARCELONA, Jan 30 (Reuters) - Spain's Glovo, part of Germany's Delivery Hero (DHER.DE), said on Monday it planned to lay off 250 workers globally, citing a drop in orders and inefficiencies after the COVID-19 pandemic drove a hiring surge. The layoffs, which will mainly affect Glovo's Barcelona offices, represent a 6.5% reduction in the company's global workforce. "The layoff decision largely impacts the company’s headquarters in Barcelona in areas such as business support functions, recruitment and data," Chief Executive Oscar Pierre said in a statement. Pierre said Glovo's rapid growth since its launch in 2015 had created operational inefficiencies and that a slump in demand in the fourth quarter showed external factors were affecting the delivery industry's performance. Reporting by Joan Faus Writing by David Latona Editing by Andrei Khalip and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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