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☆ Prices of some Tesla models cut in South Korea -official
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Jan 6 (Reuters) - The prices of some Tesla (TSLA.O) models in South Korea were cut on Friday, a local Tesla sales official said on Friday. The price of the electric car manufacturer's basic Model 3 rear-wheel drive vehicle was listed as 64.34 million won ($50,637.10) on the company's website on Friday. Its Model Y Long Range sports utility vehicle was 84.999 million won. The price cuts differed from model to model but ranged from about 6 million won to 10 million won ($4,725 to $7,875), the official said. ($1 = 1,270.6100 won)Reporting by Joyce Lee Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ TikTok CEO to meet EU antitrust chief Vestager on Tuesday
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Jan 6 (Reuters) - TikTok Chief Executive Shou Zi Chew will meet the European Union's antitrust chief Margrethe Vestager in Brussels on Jan. 10, a calendar released by the European Commission showed on Friday. Chew will also meet Values and Transparency Commissioner Vera Jourova and European Commissioner for Home Affairs Ylva Johansson on the same day, the calendar showed. A spokesman for the European Commission said the meetings could be expected to cover issues such as the protection of personal data by online platforms such as TikTok and the implementation of the EU's Digital Services Act. He declined to comment on further specific details of the meetings or who requested them. Reporting by Sudip Kar-Gupta and Bart Meijer Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Israel's Bank Hapoalim freezes mortgage rates for hard-hit homeowners
▼ + stars: | 2023-01-01 | by ( Steven Scheer | ) www.reuters.com time to read: +1 min

JERUSALEM, Jan 1 (Reuters) - Israel's Bank Hapoalim (POLI.TA) will not pass on to customers the central bank's next increase to interest rates, it said on Sunday, citing the struggles of homeowners faced with higher mortgage payments amid a broad spike in the cost of living. Hapoalim, one of Israel's two largest banks, said customers who have difficulty making mortgage payments will not have to pay extra and that it will leave the prime rate for them at 4.75% for now. The move is valid for one year for existing customers that have a mortgage linked to the prime rate and meet a number of criteria, the bank said. Hapoalim Chief Executive Dov Kotler put the number of customers who would benefit from the freeze at more than 10,000. In November Moshe Gafni, the head of the Israeli parliament's powerful finance committee, criticised a wave of central bank increases to interest rates and proposed legislation to shield mortgages.

☆ Indian power regulator retains price cap at electricity exchanges
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Companies Indian Energy Exchange Ltd FollowNEW DELHI, Dec 28 (Reuters) - India's power regulator on Wednesday retained a price cap of 12 rupees ($0.1450) per unit on electricity traded on its spot power exchanges ahead of expected record energy demand in the coming summer months. The CERC had lowered the price ceiling on power exchanges in April, from 20 rupees a unit, in light of desperate buying by state electricity companies to meet surging summer demand. The Indian Energy Exchange (IIAN.NS) and unlisted PXIL are the two main power exchanges in India. Industry sources expect the cap to remain in place indefinitely because there will be a separate market segment without a price cap. That new segment on the country's power markets would include costlier electricity from imported gas and coal-based power stations.

☆ Oil hits three-week high as China eases COVID curbs
▼ + stars: | 2022-12-27 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

A weaker dollar makes oil cheaper for holders of other currencies and tends to support risk assets. Oil also drew support from worries over supply disruption because of winter storms in the United States, said Kazuhiko Saito, chief analyst at Fujitomi Securities. "But the U.S. weather is forecast to improve this week, which means the rally may not last too long," he said. Concern over a possible production cut by Russia also provided price support. Russia might cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.

☆ Russian rouble falls to 70 vs dollar as sanctions weigh
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

The rouble lost about 8% against the dollar last week and is on course for a monthly decline after an oil embargo and price cap came into force. "This week, the rouble is expected to fluctuate in the range of 68-71 (per dollar)." Against the euro, the rouble lost 1.1% to 74.35 . Now, with exports and revenues falling, a weaker rouble is more beneficial, the TASS news agency quoted First Deputy Prime Minister Andrei Belousov as saying on Tuesday. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ China's October domestic smartphone shipments fell 27.2%
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 26 (Reuters) - Shipments of smartphones within China in October fell 27.2% year on year to 23.78 million handsets, a report from the China Academy of Information and Communications Technology said on Monday. Over January to October smartphone shipments fell 22% from the same period last year to 215 million units. Reporting by Beijing newsroom Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese academic database fined by antitrust watchdog
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 26 (Reuters) - China's State Administration for Market Regulation (SAMR) has fined China National Knowledge Infrastructure (CNKI) 87.6 million yuan ($12.6 million) for abusing a "dominant market position", the watchdog said on its website on Monday. SAMR launched an antitrust investigation into the Chinese academic database in May. ($1 = 6.9601 Chinese yuan renminbi)Reporting by Sophie Yu and Bernard Orr Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Rouble edges higher after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down 12.5% this month after an oil embargo and price cap came into force. At 0711 GMT the rouble was 0.8% stronger against the dollar at 69.67 . Brent crude oil , a global benchmark for Russia's main export, was up 3.7% at $84.0 a barrel, giving Russian equities some support. The dollar-denominated RTS index (.IRTS) was up 0.1% at 964.1 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.4% to 2,132.1 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Volatile rouble recovers ground after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down over 10% this month after an oil embargo and price cap came into force. By 0748 GMT the rouble was 2.8% stronger against the dollar at 68.31 . Brent crude oil , a global benchmark for Russia's main export, climbed to a near three-week high in its final trading session before the Christmas break, last up 3.7% at $84.0 a barrel. The dollar-denominated RTS index (.IRTS) was up 2.1% at 983.4 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.3% to 2,130.6 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David Goodman, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Rahul hails 'phenomenal' Iyer as Shakib rues missed chances
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +2 min

DHAKA, Dec 25 (Reuters) - India's stand-in captain KL Rahul heaped praise on middle order batsman Shreyas Iyer after their thrilling victory in the second test against Bangladesh while home captain Shakib Al Hasan was left to rue missed opportunities. However, Iyer and Ravichandran Ashwin then forged an unbroken 71-run stand to frustrate Bangladesh and pull off a thrilling victory for the tourists. Mehidy Hasan (5-63) and Shakib (2-50) wreaked havoc with the ball, but Iyer gave a spin masterclass to secure India's victory. That proved a costly mistake in the end, but the hosts had also missed four chances in India's first innings. "It is slightly disappointing, as other teams don't miss the chances that we are missing," said Bangladesh captain Shakib.

☆ King Charles invokes late Queen and faith in humanity in Christmas message
▼ + stars: | 2022-12-25 | by ( Sachin Ravikumar | ) www.reuters.com time to read: +4 min

LONDON, Dec 25 (Reuters) - Britain's King Charles invoked his late mother, Queen Elizabeth, in his first Christmas message to the nation as monarch and spoke of his faith in humanity at a time of "great anxiety and hardship". Charles said he shares with his "whole heart" his mother's faith in God and people. He was speaking from St George's Chapel, the final resting place of the late Queen and from where Elizabeth delivered a Christmas message in 1999. Charles, William and other royals on Sunday visited a church in Sandringam in eastern England, where the family traditionally spends the festive period. Reporting by Sachin Ravikumar Additional reporting by Toby Melville in Sandringham Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ China must raise self-reliance in agricultural technology, Xi says
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 25 (Reuters) - President Xi Jinping wants China to accelerate efforts to achieve self-reliance in agricultural technology, identifying seed development and core equipment among areas to focus on, state media reported. "It is necessary to keep an eye on the frontiers of the world's agricultural science and technology," the official Xinhua news agency quoted Xi as saying at the central rural work conference held in Beijing over Friday and Saturday. The President urged China's agricultural sector to "vigourously improve" its science and technology, with more efficient innovation. Xi urged the sector to address issues with innovation, such as the rate of conversion into commercial applications and a lack of cooperation between research teams. Reporting by Dominique Patton, Roxanne Liu and Bernard Orr Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine gives all-clear after air-raid alarms
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ukrainian servicemen take cover as an air-raid siren sounds, near an apartment building damaged by recent shelling in Kyiv, Ukraine February 26, 2022. REUTERS/Gleb GaranichKYIV, Dec 25 (Reuters) - Air raid sirens wailed in Kyiv and across all Ukrainian regions on Sunday morning but no new Russian attacks were reported, officials said. Unconfirmed Ukrainian social media reports suggested the sirens may have been triggered after Russian jets took to the skies in Belarus and that the all-clear was sounded after the planes returned to their bases. Yuriy Ihnat, a spokesperson for Ukraine's air forces, told national television earlier on Sunday that Russian military jets were flying virtually around the clock. Reporting by Pavel Polityuk Editing by David Goodman and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

☆ Paris shooting suspect expressed 'hatred of foreigners', says prosecutor
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Sarah Meyssonnier/PARIS, Dec 25 (Reuters) - The suspect detained over the killing of three Kurdish people in Paris told investigators of his "hatred of foreigners", the Paris prosecutor said on Sunday. The 69-year-old man was arrested on Friday after shooting dead two men and a woman at a Kurdish cultural centre and nearby Kurdish cafe in the 10th district of Paris. The suspect said during questioning that a burglary at his home in 2016 had triggered a "hatred of foreigners that became totally pathological", prosecutor Laure Beccuau said in a statement. The suspect remained in a psychiatric unit on Sunday after his questioning was halted on Saturday on medical grounds, the prosecutor said. The prosecutor had previously said that the suspect had been freed from detention recently while awaiting trial for a sabre attack on a migrant camp in Paris a year ago.

Brent crude futures were up 93 cents, or 1.15%, at $80.92 a barrel by 1040 GMT. U.S. crude inventories fell by about 3.1 million barrels in the week to Dec. 16, said market sources, citing data from the American Petroleum Institute. Worries about surging COVID-19 cases in China as the country begins dismantling its zero-COVID policy kept oil prices from moving higher. Overall, Russian oil exports fell by 11% month on month for Dec. 1-20 after the European Union's embargo on Russian oil came into force, the Kommersant daily reported. Reporting by Shadia Nasralla and Dmitry Zhdannikov; Additional reporting by Isabel Kua in Singapore Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Philips says tests on recalled products show limited health risks
▼ + stars: | 2022-12-21 | by ( Bart H. Meijer | ) www.reuters.com time to read: +3 min

[1/2] Logo of Dutch technology company Philips is seen at its company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File PhotoSummarySummary Companies Philips: Tests show DreamStation devices unlikely to cause harmFoam degradation more likely if unauthorised cleaners usedShares up 3.5%, after recall wiped 70% off market valueAMSTERDAM, Dec 21 (Reuters) - Dutch health technology company Philips (PHG.AS) said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks. Philips had already said earlier this year that tests indicated foam degradation was very rare and was linked to the use of unauthorised ozone-based cleaning products. It said further tests now showed machines cleaned with those products were 14 times more likely to have significant visible foam degradation than those treated with authorised products. The U.S. Food and Drug Administration (FDA) is still considering the results and "may reach different conclusions", Philips said.

☆ Equinor injects $3.7 bln into its energy trading business
▼ + stars: | 2022-12-21 | by ( Stine Jacobsen | ) www.reuters.com time to read: +2 min

Soaring energy prices and extreme market volatility have forced multiple European utilities and traders to secure extra funds to cover margin call requirements. "When prices go up, so does the size of margin calls on the energy exchanges," Danske Commodities' finance chief Jakob Sorensen said in a statement. Danske Commodities, which posted a six-fold rise in 2021 operating profits to record levels, told Reuters it expected another record year for 2022 and aimed to continue to grow its business. "As such, the capital injection underlines our growth ambitions, the synergies we gain from being part of Equinor and our commitment to contributing to functioning energy markets," it said in a written comment. Equinor's gas and power chief Helge Haugane, who also chairs Danske Commodities, said he was pleased with Danske's performance.

U.S. West Texas Intermediate (WTI) crude futures rose $1, or 1.31%, to $76.19 after climbing 90 cents on Monday. Oil prices have been buoyed by U.S. plans announced last week to buy up to 3 million barrels of oil for the Strategic Petroleum Reserve after this year's record release of 180 million barrels. A weaker dollar has also supported prices, making oil cheaper for those holding other currencies. "The oil demand outlook will be key for how high crude prices can go," he said, adding that clarity on that could prove elusive given mixed signals on the reopening of China's economy. While China has been relaxing pandemic restrictions, a surge in COVID-19 cases has been bearish for oil markets because of uncertainty over the country's economic recovery, said CMC Markets analyst Tina Teng.

☆ Ryanair agrees four-year pay deal with Irish pilots union
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Dec 20 (Reuters) - Ryanair (RYA.I) has agreed a four-year pay deal with its Irish pilots union, including immediate restoration of pay that was cut to help the airline through the COVID-19 pandemic, it said on Tuesday. The budget carrier earlier said it had reached similar agreements with all its pilots unions except those in Ireland and Belgium. "This agreement, which includes annual pay increases for the next four years, now brings our Irish pilots into line with similar pay restoration deals concluded with our other pilot unions across Europe," Ryanair People Director Darrell Hughes said in a statement. The deal was agreed after talks at the country's Workplace Relations Commission, Ryanair said. The Irish airline, which was hit by significant pilot strikes in 2018, experienced minor disruption from strikes by cabin crew last summer.

☆ Orange finance head Fernandez to join transport group CMA CGM
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 20 (Reuters) - French telecoms group Orange's (ORAN.PA) deputy chief executive and head of finance, Ramon Fernandez, is leaving the company to join shipping and transport company CMA CGM as finance director. Fernandez will Orange at the end of the first quarter of 2023, the company said on Tuesday, adding that a successor will be named soon. French transport group CMA CGM said in a separate statement that Fernandez would start his new role at the start of the second quarter next year. "I would like to thank Ramon for his unfailing commitment to the group," Orange CEO Christel Heydemann said in statement. "We will continue to work together and in confidence over the coming weeks to finalise our next strategic plan."

☆ Russia's Transneft receives Polish and German requests for oil
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +3 min

The EU has pledged to stop buying Russian oil via maritime routes from Dec. 5, with Western nations also imposing price caps on Russian crude oil, but the Druzhba pipeline remains exempt from sanctions. And now we have received requests from Polish consumers: give us 3 million tonnes next year, and 360,000 tonnes for December, and Germany has already submitted a request for the first quarter," Transneft head Nikolay Tokarev said on Tuesday. Transneft, which handles more than 80% of total oil produced in Russia, has cranked up oil exports by a fifth this year, he added. Tokarev also said that oil supplies via the southern spur of Druzhba, which transports oil through Ukraine to Slovakia and the Czech Republic, will remain unchanged next year thanks to a ssanctions exception. Exports via the far eastern port of Kozmino are expected to total 42 million tonnes this year, exceeding usual annual capacity of 30 million tonnes, Tokarev said.

☆ French winter power supply risk cut to 'medium', says RTE
▼ + stars: | 2022-12-20 | by ( Forrest Crellin | ) www.reuters.com time to read: +3 min

Companies Electricite de France SA FollowPARIS, Dec 20 (Reuters) - The risk to French power supply from the start of January through the rest of winter has been reduced to 'medium' because of higher nuclear and hydropower availability as well as reduced demand from consumers, French grid operator RTE said on Tuesday. Nuclear power utility EDF (EDF.PA) has faced an unprecedented number of reactor outages this year owing to delayed maintenance and stress corrosion, reducing nuclear output to 30-year lows just as Russia's war in Ukraine hit Europe's energy supplies. Nuclear power availability topped 40 GW on Dec. 12, lifting supply to the top of the expected availability range, RTE said. The filling level of French gas stocks has dropped to about 85% after beginning the winter near full, which is higher than previous years, RTE said. There is no concern for the first part of winter thanks to high gas supply across the continent, but vigilance will be needed for the second half of winter and especially winter 2023-24, RTE added.

China, the world's top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but said it plans to step up support for the economy in 2023. Brent crude gained 76 cents to settle at $79.80 a barrel, while U.S. West Texas Intermediate crude rose 90 cents to $75.19. Oil surged toward its record high of $147 a barrel earlier in the year after Russia invaded Ukraine in February. It has since unwound most of this year's gains as supply concerns were edged out by recession fears. "The prospect of further rate rises will hit economic growth in the new year and in doing so curb demand for oil," said Stephen Brennock of oil broker PVM.

☆ Oil rises on hopes for China's economy
▼ + stars: | 2022-12-19 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

China, the world's top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but said it plans to step up support for the economy in 2023. "There is no doubt that demand is being adversely influenced," said Naeem Aslam, analyst at brokerage Avatrade. Brent crude gained 65 cents, or 0.8%, to $79.69 a barrel by 1248 GMT while U.S. West Texas Intermediate crude rose 85 cents, or 1.1%, to $75.14. Oil surged towards its record high of $147 a barrel earlier in the year after Russia invaded Ukraine in February. "The prospect of further rate rises will hit economic growth in the new year and in doing so curb demand for oil," said Stephen Brennock of oil broker PVM.

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