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☆ Oil prices advance on U.S. growth, Chinese recovery hope
▼ + stars: | 2023-01-27 | by ( Sudarshan Varadhan | ) www.reuters.com time to read: +2 min

Jan 27 (Reuters) - Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month's peak levels. Brent futures gained 30 cents, or 0.34%, to $87.77 a barrel by 0321 GMT, while U.S. crude rose 34 cents to $81.35 per barrel, a 0.42% gain. OPEC+ delegates will meet next week to review crude production levels, amid steady support for crude prices from strong demand for jet fuel and diesel. Gains on U.S. crude were limited by a 4.2 million barrel build in stocks at Cushing, the pricing hub for NYMEX oil futures, earlier this week. "The short-term bullish factor is that the recent outage in the U.S. refineries helped push up gasoline prices, though the U.S. crude inventories hit a 16-month high," Teng said.

☆ Oil prices edge up on strong U.S. economic data, Chinese demand hope
▼ + stars: | 2023-01-27 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +1 min

Jan 27 (Reuters) - Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand. Improving gross domestic product and inflation data in the United States provided hope that the U.S. Federal Reserve could slow its pace of interest rate hikes, reducing fear of curtailment in economic activity and consequent oil demand. The figures point to the normalisation of China's economy, thereby boosting expectations of a recovery in oil demand. Crude prices were also supported by strong demand for jet fuel and diesel as supplies remain tight. Also, the European Commission is proposing the European Union set a $100 per barrel price cap on premium Russian oil products such as diesel and a $45 per barrel cap on discounted products such as fuel oil, EU officials said on Thursday.

☆ Plug Power scraps electrolyser plant partnership with Fortescue
▼ + stars: | 2023-01-27 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

SummarySummary Companies Plug Power questions plant's economicsFFI wants to use its own electrolyser technologyNo change to capital cost at $83 millionMELBOURNE, Jan 27 (Reuters) - Plug Power (PLUG.O) has walked away from building an electrolyser manufacturing plant in Australia with Fortescue Metals Group (FMG.AX) as the economics did not work, Plug Chief Executive Officer Andrew Marsh said on Thursday. Fortescue had planned to build the world's biggest factory to make electrolysers with Plug Power and began construction in Gladstone in Australia's northeast last February aiming to produce their first electrolyser in 2023. In a business update on Thursday, Plug Power CEO Marsh said the plant deal with Fortescue was off. Fortescue wants to use its own electrolyser technology instead of Plug Power's technology, although it will buy electrolysers from the U.S. company for some of its hydrogen projects, Fortescue founder and executive chairman Andrew Forrest said. "I think Plug Power is very much locked in to certain technology and on a production cycle," Hutchinson told analysts on a quarterly call.

☆ U.S. lawmakers seek repeal of Biden solar tariff waiver
▼ + stars: | 2023-01-26 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

The move is aimed at propping up domestic solar manufacturers, which have struggled to compete with cheap panels made overseas - often by Chinese companies. A Commerce Department probe last year found that some solar panel makers were dodging U.S. tariffs on Chinese-made goods by moving their products through Cambodia, Malaysia, Thailand and Vietnam. New proposed duties on imports from those countries will not kick in until June of 2024 because of a two-year waiver from Biden. Months later, the Commerce Department issued a preliminary decision to extend existing tariffs on Chinese solar products to goods from those nations. The White House has said the tariff exemption will serve as a bridge while the U.S. sector ramps up.

LITTLETON, Colo. Jan 25 (Reuters) - The world's top thermal coal exporter shocked global markets a year ago by temporarily banning coal exports to protect domestic power producers, sending coal prices soaring and kicking off an historically volatile year for coal and other power fuels. For 2022 as a whole, total Indonesian thermal coal exports hit 448.5 million tonnes, a record sum that was 56 million tonnes (14.4%) larger than 2021's total, ship tracking data from Kpler shows. However, there are several factors in play in 2023 that may lift demand for Indonesian coal over the coming months. The planned implementation of energy product sanctions on Russia by the European Union this year is another factor likely to support global coal demand. India's tight domestic coal stockpiles are another bullish factor supporting Indonesia's coal export potential.

[1/2] A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit TessierJan 25 (Reuters) - Former U.S. President Donald Trump's potential return to Meta Platform's (META.O) Facebook and Instagram is unlikely to change how advertisers spend money with the world's second-largest digital ad company, ad agency executives said. In a blog post on Wednesday announcing Trump's reinstatement, Meta said he will face "heightened penalties for repeat offenses." Trump's reinstatement, however, reinforces long-standing concerns about how social media platforms can ensure that ads don't appear next to content that marketers consider unsuitable, D'Altorio said. Ad spending on Twitter slumped in the last two months of 2022, according to Standard Media Index, which measures ad spending based on data from ad agencies.

☆ Colombia must strengthen rule of law, state presence in areas hit by violence -UN
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] United Nations High Commissioner for Human Rights (OHCHR) Volker Turk speaks before he signs the subscription to the headquarters agreement in Bogota, Colombia January 25, 2023. REUTERS/Luisa GonzalezBOGOTA, Jan 25 (Reuters) - Colombia must strengthen the rule of law and the state's presence to tackle violence in areas affected by the country's internal armed conflict, Volker Turk, the United Nations High Commissioner for Human Rights, said on Wednesday. Colombia's human rights ombudsman on Monday reported that a record 215 human rights activists and social leaders - a term referring to community, land, and environmental leaders, among others - were killed in 2022. The Office of the United Nations High Commissioner for Human Rights (OHCHR) has verified 112 killings of human rights defenders from last year, Turk said. "It's clear that in such a difficult situation as we currently have in Peru, we call on de-escalation, we call on respect for human rights," he said.

☆ Anti-abortion protesters break into Walgreens AGM meeting room
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

Jan 26 (Reuters) - Anti-abortion protesters broke into the room where Walgreens Boots Alliance Inc (WBA.O) held its annual shareholders meeting in Newport Coast, California on Thursday for its decision to start selling abortion pills, the pharmacy chain said. "Today, directly after the close of official business of our annual shareholders meeting, a small group of protesters entered the meeting room without authorization," Walgreens Senior Director for External Relations Fraser Engerman told Reuters. "It was a wild annual shareholders meeting," said Walgreens shareholder and AGM attendee John Chevedden. "The protesters knew what they were doing because they found a way to enter the room from behind the podium. "Upon leaving the meeting there were about 50 noisy protesters with signs just outside of the resort grounds," he said via email.

☆ Biden administration officials tout EVs at DC auto show
▼ + stars: | 2023-01-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Jonathan ErnstWASHINGTON, Jan 25 (Reuters) - Two senior Biden administration officials got behind the wheel of new electric vehicles (EV) Wednesday at the Washington, D.C. auto show to urge Americans to consider buying a zero-emission model. They also highlighted that since President Joe Biden took office, companies have announced nearly $130 billion in U.S. EV investment including $56 billion in EV manufacturing and $72 billion in battery production. "It's electric vehicles, it's the guts to the electric vehicle, it's the guts to the battery - the whole supply chain now locating in the United States." Congress has approved billions of dollars in new incentives, low-cost loans and other funding for EV production and $5 billion for charging stations. Some consumers are still confused about whether they will qualify for EV credits.

☆ Congressional Budget Office to issue debt limit, budget forecasts on Feb. 15
▼ + stars: | 2023-01-25 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 25 (Reuters) - The Congressional Budget Office (CBO) said on Wednesday that it plans to release its 2023 baseline budget and economic forecast on Feb. 15, along with a special report on the federal debt limit situation. The non-partisan CBO said the debt limit report, part of a recurring series during debt limit standoffs in Congress, will describe "the current debt situation and CBO's expectation about when the Treasury will no longer be able to pay its obligations fully if the debt limit is not raised." The agency annually provides the baseline fiscal forecast based on current tax and spending laws and its assessment of current economic conditions to kick off Congress' budgeting and appropriations processes. The U.S. budget deficit for December quadrupled from a year earlier to $85 billion as revenues eased and outlays for debt interest costs, health care and Social Security grew. RReporting by David Lawder; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ ASML beats earnings forecasts, sees 2023 growth amid China worries
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

It said its order backlog had grown to a record 40 billion euros ($43.62 billion) at the end of the year. ""We just have to wait for the governments and the politicians to keep talking and come to a reasonable solution (on possible restrictions)," Wennink said. The company had China sales worth 2.16 billion euros in 2022 accounting for 14% of its total revenue. Veldhoven, Netherlands-based ASML reported fourth-quarter net profit of 1.82 billion euros, up from 1.77 billion a year earlier, on revenue of 6.43 billion euros. That beat analyst forecasts for a net profit of 1.70 billion euros on sales of 6.38 billion, Refinitiv Eikon data showed.

☆ Holcim CEO wants to further expand in North America -report
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Holcim wants to grow its solutions and products division to around 30% of group sales by 2025, Jenisch told financial website The Market. "We're well on track there, and it can grow further," The Market cited Jenisch as saying in an interview published on Wednesday. In a few years, the three equally important pillars of Cement, Aggregates/Concrete, and Solutions & Products should each account for one third of revenues." "In the roofing business alone, we generate over $3 billion in sales there," he said. "The roofing business alone has a market volume of $30 billion in the U.S., and together with Europe and Latin America it's $50 billion.

☆ ASML Q4 net profit $1.98 bln, sees sales up 25% in 2023
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

VELDHOVEN, Netherlands, Jan 25 (Reuters) - ASML Holding NV (ASML.AS), an equipment supplier to computer chip makers, on Wednesday reported better-than-expected fourth-quarter earnings and forecast sales growth of more than 25% in 2023. But Wennink said that so far "nothing has changed" since the U.S. imposed new export restrictions on its own companies in October. The Veldhoven, Netherlands based firm reported fourth-quarter net profit of 1.82 billion euros, up from net profit of 1.77 billion euros in the same period a year earlier, on revenue of 6.43 billion euros. Analysts had forecast net profit of 1.70 billion euros on sales of 6.38 billion euros, according to Refinitiv data. ($1 = 0.9169 euros)Reporting by Toby Sterling; Editing by Tom Hogue and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Morning bid: Running out of breath
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Asian equities held steady on Wednesday near seven-month highs after a mixed session on Wall Street. On a thin day for economic data, focus will be on U.K. producer prices and the German IFO. Revenue at Europe's largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday. The forecast, which tracks companies listed on the pan-European STOXX 600 (.STOXX) benchmark index, represents a drop from last week when analysts expected revenue growth of 4%. Analysts downgrade earnings forecastsInvestment strategists at Standard Chartered say it is time to fade the rally seen in European stocks and the euro since the lows of September.

☆ Latin America, Caribbean call for more international funding at CELAC summit
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 24 (Reuters) - Countries from Latin America and the Caribbean on Tuesday called for more international funding in the region following economic and climate crises, in a final declaration after a summit held in the Argentine capital of Buenos Aires. The 111-point "Declaration of Buenos Aires" from the Community of Latin American and Caribbean States' (CELAC) seventh summit described how effects of COVID-19, climate change and the war in Ukraine had rippled across the region. "We express our concern that several countries emerged from the pandemic with higher levels of public debt," it said. Venezuelan President Nicolas Maduro sent a recorded message saying he had chosen not to attend due to "permanent conspiracies, the permanent threat, calculated ambushes." Reporting by Lucila Sigal; Writing by Sarah Morland; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Australia inflation surges further in Q4, more rate hikes loom
▼ + stars: | 2023-01-25 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Analysts had thought there was some chance the RBA might even pause its tightening campaign, but the sheer pace of inflation put paid to that. Price rises were broad-based with a closely watched measure of core inflation, the trimmed mean, rising 1.7% in the December quarter. Costs pressures were also building in the service sector which recorded its largest annual rise since 2008, driven by holiday travel, meals out and takeaway food. "Strong demand, particularly over the Christmas holiday period, contributed to price rises for domestic holiday travel and international air fares," said Michelle Marquardt, ABS head of prices statistics. With inflation pressures broadening yet further, markets moved to price in the risk of at least two more rate hikes from the RBA with swaps implying a peak above 3.60%.

☆ Brazil Justice Moraes fines Telegram for not complying with court order
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Jan 25 (Reuters) - Brazil's Supreme Court Justice Alexandre de Moraes fined on Wednesday messaging app Telegram for failing to comply with a court order that called for the suspension of accounts of supporters of former President Jair Bolsonaro. Telegram will be fined 1.2 million reais ($236,527), the decision said. Moraes gave Telegram five days to pay the fine from the day of the decision. In March 2022, Moraes ordered the suspension of messaging app Telegram, saying it had repeatedly refused to adhere to judicial orders to freeze accounts spreading disinformation. The suspension was revoked days later, after the company complied with court requests.

☆ Honda, GS Yuasa agree to collaborate in lithium-ion batteries
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 23 (Reuters) - Japanese automaker Honda Motor Co Ltd (7267.T) and battery maker GS Yuasa Corp (6674.T) on Monday said they will collaborate in the high-capacity, high-output lithium-ion battery business, and plan to establish a joint venture by the end of this year. The partners said they will join in the research and development of lithium-ion batteries and production methods, and will also establish a supply chain for key raw materials and a battery production system. Reporting by Mariko Katsumura; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Poland ready to send Ukraine tanks even if Germany opposes it -deputy FM
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Jan 20 (Reuters) - Poland could send Leopard 2 tanks to Ukraine even without Germany's re-export approval, a deputy foreign minister said on Friday, ahead of a crunch meeting on weapons for Kyiv. The issue looks set to dominate talks between Western allies at the Ramstein Air Base in Germany on Friday. "I do not rule out that we are ready to take such a step," Pawel Jablonski told private radio RMF FM referring to the possibility of sending tanks to Ukraine even if Germany opposes it. Lithuanian Defence Minister Arvydas Anusauskas said on Thursday several countries would announce sending Leopard 2 tanks to Ukraine at the Ramstein meeting. However, Germany has yet to receive a request from any country for permission to re-export German-made Leopard tanks to Ukraine, a German government source said on Thursday.

☆ Toyota plans to produce 750,000 vehicles globally in February
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 18 (Reuters) - Toyota Motor Corp (7203.T) on Wednesday said it plans to produce about 750,000 vehicles globally in February. The Japanese automaker said it aims to make about 300,000 vehicles domestically and about 450,000 overseas, and that it will continue to monitor the supply of auto parts, including semiconductors. Toyota produced 740,996 vehicles globally in February last year, against a target of around 700,000. Reporting by Satoshi Sugiyama; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ BOJ crafts new weapon to defend yield control policy
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 18 (Reuters) - The Bank of Japan on Wednesday amended rules for a fund-supply market operation to use it as a new tool to prevent long-term interest rates from rising too much, in a show of its resolve to maintain yield curve control (YCC) for the time being. Under the amended rules, the central bank can offer funds of up to 10 years against collateral to financial institutions for both fixed- and variable-rate loans. After announcing the new rules, the BOJ said it will offer five-year loans under the fund-supply operation with a duration of between Jan. 24, 2023 and Jan. 24, 2028. Reporting by Leika Kihara; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ GAIL India seeks two LNG cargoes for February delivery - sources
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies GAIL (India) Ltd FollowKUALA LUMPUR, Jan 17 (Reuters) - GAIL (India) Ltd (GAIL.NS) has issued a buy tender seeking two liquefied natural gas (LNG) cargoes for delivery into India, two industry sources said on Tuesday. India's largest gas distributor is seeking the cargoes for delivery during the month of February on a delivered ex-ship (DES) basis into the country's Dabhol terminal. The tender closes on Wednesday, Jan. 18, added the sources. Reporting by Emily Chow; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ LeBron becomes second player to score 38,000 points
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

Jan 15 (Reuters) - LeBron James became only the second player in NBA history to score 38,000 career points on Sunday as he inches closer to Kareem Abdul-Jabbar's all-time record. loadingJames eventually finished with 35 points but it was a bittersweet night as the Lakers lost 113-112. The 38-year-old forward, who started his career with the Cleveland Cavaliers and also played for the Miami Heat, has averaged 29 points per game this season. A four-times champion and four-times MVP, James is on course to break former Lakers center Abdul-Jabbar's 34-year-old record of 38,387 points in the coming weeks. James is now 363 points behind Abdul-Jabbar and based on his scoring average, NBA statisticians expect him to break the record before the All-Star break next month.

The China Southern Airlines Co Ltd (600029.SS) domestic flight from Guangzhou to Zhengzhou departed at 12:45 p.m. (0445 GMT) using a MAX plane, according to flight tracking website FlightRadar24. China Southern had scheduled a return to commercial service for the 737 MAX in October 2022 but did not use it on the planned flights. Boeing and China Southern did not immediately respond to a request for comment. China Southern is the biggest Chinese customer for the model, with 50 on order, of which 34 have been delivered. In 2022, Boeing delivered eight airplanes to China while Airbus delivered more than 100.

☆ China's foreign ministry branch in Hong Kong urges British gov't to stop Hong Kong report
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Jan 13 (Reuters) - China's foreign ministry in Hong Kong urged the British government to stop its "so-called half-yearly report on Hong Kong", state media reported on Friday. A spokesperson at the ministry branch said Britain's report "grossly interfered with Hong Kong affairs and China's internal affairs, and seriously trampled on international law". read moreIn a separate statement, the Hong Kong government said late on Thursday that it refuted the "slandering remarks and ill-intentioned political attacks" made in Britain's report. "The Hong Kong special administrative region is an inalienable part of the People's Republic of China," the statement said, adding that the government urged Britain to "respect the basic norms governing international relations and stop interfering" in the city's affairs. Reporting by Liz Lee in Beijing and Farah Master in Hong Kong; Editing by Christopher Cushing and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

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