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Three OPEC+ sources told Reuters on Friday cuts were being discussed among options for Sunday's session, when OPEC+ ministers gather at 2 p.m. (1200 GMT) in Vienna. The sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, this would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. The International Energy Agency expects global oil demand to rise further in the second half of 2023, potentially boosting oil prices. "There is simply too much supply," the JPMorgan analysts said in a note, noting extra cuts could amount to around 1 million bpd.
Persons: Leonhard, Russia's Novak, Hayan Abdel, Ghani, Suhail Al Mazroui, Prince Abdulaziz, Alexander Novak, Novak, Edward Moya, OANDA, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes Organizations: Austrian, REUTERS, LONDON, OPEC, Organization of, Petroleum, Reuters, UAE's Energy, Brent, Saudi Arabia's Energy, International Energy Agency, JPMorgan, Thomson Locations: Vienna, Austria, Saudi, OPEC, Russia, Ukraine, China, India, Russian
They arrived around 2:45 a.m. (0045 GMT) and were greeted by Belgian Foreign Minister Hadja Lahbib, Belgium's Belga news agency reported. Danish citizen Thomas Kjems flew on to Copenhagen, landing at around 11 a.m. (0900 GMT) on Saturday. Austrian Foreign Minister Alexander Schallenberg tweeted photos of the two Austrians arriving in Vienna. Iranian Foreign Minister Hossein Amirabdollahian tweeted on Saturday that he had told Lahbib that he hoped the prisoners' release would "open a new page" in Iran's relations with Belgium and Europe. Belgian government officials said that officially there were still 22 Europeans in Iranian prisons, but that no more Europeans would be exchanged for Assadi.
Persons: Thomas Kjems, Read, Dane, Asadollah Assadi, Olivier Vandecasteele, Assadi, Hadja Lahbib, Belgium's, It's, I've, Alexander Schallenberg, Hossein Amirabdollahian, Lahbib, Amirabdollahian, Massud Mosaheb, Kamran Ghaderi, Lars Lokke Rasmussen, Kazem, Ahmadreza, Louise Rasmussen, Tom Little, Charlotte Van Campenhout, Bart Biesemans, Andrew Gray, Francois Murphy, Hugh Lawson, Mark Potter, Frances Kerry Organizations: Copenhagen Airport, Europeans, Belgian Foreign, Austrian, Ministry, Austrian Friendship Society, Danish, Assadi, Iranian, Thomson Locations: Copenhagen, Denmark, Iran, BRUSSELS, DUBAI, Tehran, Belgian, Belgium, France, Oman, Danish, Vienna, Iranian, Europe, ., Swedish, Brussels, Dubai
Three OPEC+ sources told Reuters on Friday that cuts were being discussed among options for Sunday's session. The three sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, this would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. Typically production cuts take effect the month after they are agreed, but ministers could also agree a later implementation. Two OPEC sources said the ministers could also discuss new production baselines from which each member performs cuts.
Persons: Leonhard, Hayan Abdel, Ghani, Suhail Al Mazroui, Prince Abdulaziz, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes, Frances Kerry, Christina Fincher Organizations: Austrian, REUTERS, OPEC, Organization of, Petroleum, Reuters, UAE's Energy, Brent, Saudi Arabia's Energy, International Energy Agency, JPMorgan, Thomson Locations: Vienna, Austria, Saudi, OPEC, VIENNA, Russia, Ukraine, China, India, West, Nigeria, Angola, UAE
BRUSSELS, June 3 (Reuters) - A majority of EU countries have rejected a push by Europe's big telecoms operators to force Big Tech to help fund the rollout of 5G and broadband in the region, people familiar with the matter said. Telecoms ministers from 18 countries either rejected or criticised the proposed network fee levy on tech firms at a meeting with EU industry chief Thierry Breton in Luxembourg on Thursday, the sources said. That echoed comments made last month by EU telecoms regulators' group BEREC. Breton is expected to issue a report by the end of June with a summary of feedback provided by Big Tech, telecoms providers and others which will indicate his next steps. Any legislative proposal needs to be negotiated with EU countries and EU lawmakers before it can become law.
Persons: Thierry Breton, Breton, Foo Yun Chee, Rosalba O'Brien Organizations: EU, Big Tech, Deutsche Telekom, Telefonica, Telecom Italia, France Telecom, French, Google, Apple Inc, Inc, Netflix Inc, Amazon.com Inc, Microsoft Corp, Thomson Locations: BRUSSELS, Luxembourg, Orange, Austria, Belgium, Czech Republic, Denmark, Finland, Germany, Ireland, Lithuania, Malta, Netherlands, Cyprus, France, Greece, Hungary, Italy, Poland, Portugal, Romania
REUTERS/Leonhard FoegerVIENNA, June 2 (Reuters) - OPEC has denied media access to reporters from Reuters, Bloomberg and the Wall Street Journal to report on oil policy meetings in Vienna this weekend, reporters, Bloomberg and people familiar with the matter said on Friday. OPEC staff declined on Friday to give media accreditation to Reuters journalists to cover the event. The staff handling media accreditation at one of Vienna's luxury hotels said they could not issue accreditation without an invite. A Bloomberg spokesperson confirmed on Friday the company has not been given accreditation to cover the OPEC meeting. Reporters from the three outlets, many of whom have been covering OPEC meetings for years, did not receive invitations from OPEC ahead of the meeting.
Persons: Leonhard Foeger VIENNA, Platts, Alex Lawler, Dmitry Zhdannikov, Ahmad Ghaddar, Julia Payne, Maha El, Simon Webb, Marguerita Choy Organizations: Organization of, Petroleum, REUTERS, OPEC, Reuters, Bloomberg, Wall Street Journal, of, Thomson Reuters Corp, Thomson, Street, Argus Locations: Vienna, Austria, OPEC, Saudi Arabia, Russia
BUDAPEST, June 2 (Reuters) - Hungary should not consider adopting the euro before 2030 as joining the single currency zone before its economy is duly prepared would backfire, central bank governor Gyorgy Matolcsy said on Friday. Matolcsy said once Hungary reaches about 90% of the EU's average level in terms of economic development, then the adoption of the single currency could be put on the agenda. "It is dangerous to enter the club of the rich while the economy is unprepared for it," Matolcsy told state radio. "Perhaps around 2030 or a bit later we could reach ... 90% of the EU's average in terms of development, then it's worth entering (the euro zone) as the euro has many advantages," Matolcsy said. The National Bank of Hungary is currently fighting the EU's highest inflation rate, running at an annual 24% in April, while the economy is slowing sharply.
Persons: Gyorgy Matolcsy, Matolcsy, Mihaly Varga, Krisztina, Mark Heinrich Our Organizations: National Bank of, EU, Thomson Locations: BUDAPEST, Hungary, Hungarian, National Bank of Hungary, Austria, Croatia, Slovenia, Slovakia
BUDAPEST, June 2 (Reuters) - Hungary should not consider adopting the euro before 2030 as joining the single currency zone before its economy is duly prepared would backfire, central bank governor Gyorgy Matolcsy said on Friday. Matolcsy said once Hungary reaches about 90% of the EU's average level in terms of economic development, then the adoption of the single currency could be put on the agenda. "It is dangerous to enter the club of the rich while the economy is unprepared for it," Matolcsy told state radio. "Perhaps around 2030 or a bit later we could reach ... 90% of the EU's average in terms of development, then it's worth entering (the euro zone) as the euro has many advantages," Matolcsy said. The National Bank of Hungary is currently fighting the EU's highest inflation rate, running at an annual 24% in April, while the economy is slowing sharply.
Persons: Gyorgy Matolcsy, Matolcsy, Mihaly Varga, Krisztina, Mark Heinrich Our Organizations: National Bank of, EU, Thomson Locations: BUDAPEST, Hungary, Hungarian, National Bank of Hungary, Austria, Croatia, Slovenia, Slovakia
Banks typically sold these perpetual bonds - known as AT1 bonds - with five years before an option to repay was triggered. In the past, investors got their money back, and banks replaced the bonds with new ones, but some are changing tack. The banks' actions show how the wipeout of billions of dollars of Credit Suisse AT1 bonds still reverberates around this market, which is estimated at roughly $275 billion. "The AT1 market is splitting," said Alessandro Cameroni, a portfolio manager at asset manager Lemanik. SHOCK ABSORBERThe AT1 bonds were designed to help banks absorb losses, and they count towards their capital buffers.
Persons: Kai Pfaffenbach, Banks, Alessandro Cameroni, Lemanik, Peter Harvey, Federated Hermes, Italy's, Morgan Stanley, Karsten Junius, J . Safra Sarasin, Chiara Elisei, Carlo Giovanni Boffa, Jane Merriman Organizations: REUTERS, Suisse, Raiffeisen Bank, Reuters, Deutsche, Aareal Bank, Credit Suisse, Investors, Federated, Lloyds, Societe Generale, UBS, Santander, J ., Thomson Locations: Frankfurt, Germany, Ukraine, Swiss, Schroders, Russia
Ms. Saariaho, who hadn’t had the desire to write an opera, changed her mind after seeing Mr. Sellars’s 1992 staging of Messiaen’s “St. That experience, Ms. Saariaho told her publisher, “opened my mind to what can be done by telling a story with music,” and led to a series of collaborations with the soprano Dawn Upshaw, one of its stars. And so Ms. Saariaho entered the 21st century with the premiere of her first opera, “L’Amour de Loin,” which was widely celebrated as a masterpiece and considerably raised her international profile. Francois d’Assise” team, including Mr. Sellars and Ms. Upshaw. Her output, Mr. Salonen said, “can be seen as a vast forest where all these plants and trees grow, and they’re in sort of a symbiotic relationship with each other.
Persons: Saariaho, hadn’t, Francois d’Assise ”, , Dawn Upshaw, Rudel’s, Amin Maalouf, Sellars, Upshaw, Anthony Tommasini, , Salonen, Mr Organizations: Salzburg Festival, The New York Times, Locations: “ St, Austria, , Finland
A slide in crude oil prices has weighed on the Club's three energy holdings. Brent crude — the global oil benchmark — and West Texas Intermediate Crude, the U.S. oil standard, have fallen roughly 7% and 8%, respectively, over the past week. @CL.1 5D mountain West Texas Intermediate crude prices over the past five days. In those instances, Gabelman said he thinks oil prices are unlikely to react significantly. In sum, we find the situation leading up to the OPEC+ meeting too murky to make a move on our oil stocks, despite their recent swoon.
Persons: Saudi Arabia — OPEC's, , Prince Abdulaziz bin Salman, Alexander Novak, Jason Gabelman, Gabelman, We're, Jim Cramer's, Jim Cramer, Jim, Joe Klamar Organizations: of Petroleum, Russian, Brent, West, Energy, Natural Resources, Halliburton, HAL, Texas, Cowen, CNBC, OPEC, AFP, Getty Locations: OPEC, Saudi Arabia, Russia, Saudi, West Texas, U.S, Covid, Europe, Austrian, Vienna, Austria
This guide has everything you need to know about where to watch a Sevilla vs. Roma live stream for free tonight. Where to watch Sevilla vs. Roma in CanadaSoccer fans in Canada will need to stump up some extra cash to enjoy a Champions League live stream of Sevilla vs. Roma tonight, as DAZN Canada holds the local viewing rights. Watch the Europa League final: Sevilla vs. Roma free live streamThere are several free options available today. You can opt for the Essential or Premium tier trials; both come with Champions League and Europa League live streaming. How to watch Sevilla vs. Roma with a VPNSign up for a VPN if you don't have one.
Persons: José Mourinho, ExpressVPN, LIV Golf Organizations: Sevilla, Europa League, Seville, Roma, US, Paramount, PT, CBS, Nickelodeon, Comedy Central, BET, MTV, There's, League, BT Sport YouTube, RTL Zwee, Rai, Canada Soccer, Canada, BT Sport, Champions League, Conference League, BT, Paramount Plus Locations: Italy, Austria, Canada, Luxembourg, Europe, Sevilla, Austrian
Arnold Schwarzenegger says the global effort to mitigate the effects of climate change is being crippled by its fundamental communication problem. "As long as they keep talking about global climate change, they are not gonna go anywhere. 'Cause no one gives a s--- about that," Schwarzenegger told CBS' "Sunday Morning" correspondent Tracy Smith in a profile that aired Sunday. Pollution creates climate change, and pollution kills," Schwarzenegger said. The 75-year-old bodybuilder, actor, and former governor of California has become a public voice about climate change through his role as the host of the Austrian World Summit, a global climate change conference.
Peru"Peruvians are welcoming travelers back with open arms," says travel one travel expert. And perhaps most importantly, the city offers excellent value, in part because it will be the winter/low season there during the Northern Hemisphere’s summer. It’s home to three UNESCO World Heritage Sites, including megalithic temples that date to the 4th millennium BC. Although summer is the rainy season, Gellis says showers are often brief and intermittent. AlbaniaAlbania is a Mediterranean gem that’s likely to be less crowded this summer than Greece and Croatia, says Joao Donadel, another EMBARK Beyond travel advisor.
The most prestigious event of the world's racing calendar is just hours away, so don't miss out on today's free F1 Monaco live stream. Watch a free Monaco F1 live streamThis weekend's simplest option for a free F1 live stream is using a VPN to tune into one of the free European streams mentioned above. How to watch the Monaco F1 live stream with a VPNSign up for a VPN if you don't have one. Turn it on and set it to a country with a free live stream. Deal Sling TV Subscription Sling is one of the most affordable live TV streaming services you can sign up for.
[1/3] The 76th Cannes Film Festival - Photocall for the film "How to Have Sex" in competition for the category Un Certain Regard - Cannes, France, May 19, 2023. However, there was a slight hiccup: Molly Manning Walker was not in the room when the award for her debut feature was announced. The first Sudanese film to be included in the Cannes official selection, "Goodbye Julia," took the freedom award. Director Mohamed Kordofani thanked the Sudanese people for their support as well as for not giving up. "Un Certain Regard" is a competition focused on arthouse films that runs parallel to the main competition, the Palme d'Or, which will be announced on Saturday.
[1/2] The 76th Cannes Film Festival - Screening of the film "Perfect Days" in competition - Red Carpet Arrivals - Cannes, France, May 25, 2023. REUTERS/Gonzalo FuentesCANNES, May 25 (Reuters) - Most directors would be thrilled to have one film shown at the Cannes Film Festival. The result, "Perfect Days", premiers on Thursday, starring acclaimed Japanese actor Koji Yakusho as a toilet cleaner in Tokyo. Cannes organizers liked the "spontaneous" work, which came together in just a few months, and wanted to show it, Wenders said. By comparison, "Anselm" is more of an experience than a film, Wenders said.
As legacy automakers increasingly ramp production of all-electric vehicles, cushioned by the profits of gas-powered models, a handful of EV startups are scrambling to conserve cash and stay in the mix. It also means the amount of cash Fisker had left as of the end of March, $652.5 million, isn't yet cause for alarm. Still, Fisker cut its production guidance for 2023 to between 32,000 vehicles and 36,000 vehicles, from 42,400 in its original plan. Or as Evercore ISI analyst Doug Dutton wrote before Fisker's earnings report, "Fisker is beginning to turn into a story of binary and 'show me' outcomes." It had $108.1 million remaining as of the end of March, but it lost $171.1 million in the first quarter .
Persons: Tesla, Rivian, Claire McDonough, Rivian's, It's, McDonough, Deutsche Bank's Emmanuel Rosner, Rosner, Sherry House, Peter Rawlinson, Bank of America's John Murphy, Murphy, Aston Martin, Henrik Fisker, Fisker, Doug Dutton, Dutton, Nikola Nikola, Trevor Milton, Nikola, Voltera, TD Cowen, Jeffrey Osborne, Osborne, Polestar Polestar, it's, Johan Malmqvist isn't, aren't, Deutsche Bank's Rosner, Lordstown, Foxconn, Foxconn doesn't Organizations: EV, Amazon, Deutsche, Lucid's, Bank of America's, BMW, Global, Magna International, Nikola, Iveco, Volvo Cars, Geely, Lordstown, Nasdaq, General Motors Locations: Georgia, Magna, Austria, U.S, Europe, North America, Nikola's, Swedish, China, Ohio, Lordstown
The ongoing conflict has prompted several Ukrainian firms to focus abroad to reduce their reliance on a shrinking home market and to tap into the millions of people who have left. Ukraine, which had a pre-war population of about 40 million, has seen its domestic economy turned upside down, with corporate investments and growth now rare. "Our choice was to go to Poland, mainly because Poland hosts now the highest number of Ukrainians who fled from the war." In September, 8.5% of all companies opened in Poland had Ukrainian capital, compared with 0.8% in January 2022. "The main goal is to grow abroad much faster than we planned for ourselves in the pre-war period," Vovk said.
In 2019, Sotheby’s sold a work by Giovanni Battista Tiepolo, the master painter, that was left behind in Austria when a Jewish gallery owner fled the Nazis in 1938. Sotheby’s says that at the time of the sale it didn’t know that history, and so the auction catalog only mentioned that the work came from a “distinguished private collection” and had once been in the possession of the Galerie Wolfgang Böhler in Bensheim, Germany. But, according to court papers filed Friday, the painting had actually passed through the hands of Julius Böhler, a separate and unrelated art dealer in Munich whom American authorities described in 1946 as someone who had been “implicated in art looting activities.”Now three heirs of the Jewish gallery owner, Otto Fröhlich, are saying in the court papers that Sotheby’s “misled the public” by attributing the painting to the wrong gallery. This had the effect, the heirs said, of making a sale easier and “perpetuating the very cycle of injustice and exploitation that began in 1938 and that the international and national restitution laws and policies were designed to prevent.”Sotheby’s, in response, attributed the provenance attribution in the 2019 catalog to “human error.” The auction house said in a statement that it conducted new research after first hearing from the heirs and learned of an owner before Fröhlich who had been subject to Nazi persecution and whose heirs may have grounds for a claim.
[1/5] The 76th Cannes Film Festival - Screening of the film "Les filles d'Olfa" (Four Daughters) in competition - Red Carpet Arrivals - Cannes, France, May 19, 2023. Nour Karoui, Ichraq Matar, Hend... Read moreCANNES, May 19 (Reuters) - Tunisian director Kaouther Ben Hania mixes fiction and documentary to capture the story of Olfa Hamrouni, whose older daughters left to fight for Islamic State in "Four Daughters," her first entry for the Cannes Film Festival's top prize. It is the role of cinema to explore these areas, these ambiguities of the human spirit," Ben Hania said in a news release. For the film, Ben Hania wanted to show Hamrouni's complexities but noticed she would fall into the well-trodden narrative of guilt-ridden mother whenever the camera was on. Her last film, "The Man Who Sold His Skin," was the Tunisian entry for best international feature at the 2021 Oscars.
HOMES RULEA key driver behind America's outsized electricity consumption is the preference for single family homes over all other types of residences. For many in the United States, owning your own home is a key part of the so-called American Dream. According to the EIA's latest Residential Energy Consumption Survey 57% of electricity used by detached households is used for space heating, and 64% for air conditioning. OTHER WAYS OF LIVINGThe United States is not alone in facing rising living costs while trying to improve the efficiencies of buildings. Similarly, a vast majority of China's population lives in apartments, and apartments are more popular than individual houses in the cities of India, Japan and Southeast Asia.
[1/5] The 76th Cannes Film Festival - Screening of the film "Indiana Jones and the Dial of Destiny" (Indiana Jones et le cadran de la destinee) Out of Competition - Red Carpet Arrivals - Cannes, France,... Read moreCANNES, May 18 (Reuters) - Harrison Ford was in Cannes for the much-anticipated premiere of "Indiana Jones and the Dial of Destiny" on Thursday evening, 15 years since the actor last picked up the adventurous archaeologist's iconic bullwhip and hat on the big screen. The newest movie's release date had been postponed several times after it had been announced in 2016 and follows 2008's "Indiana Jones and the Kingdom of the Crystal Skull," which received mixed reviews. The "Indiana Jones" franchise, created by George Lucas of "Star Wars" fame, has grossed nearly $2 billion at the global box office with four films and amassed a global fan base. It also inspired a TV series, "The Young Indiana Jones Chronicles." "Dial of Destiny" is the first "Indiana Jones" movie the Walt Disney Co (DIS.N) has made after buying the distribution rights for the franchise from Paramount Pictures in 2013.
MUNICH, May 17 (Reuters) - Electric car maker Fisker Inc (FSR.N) is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. If we collaborate with someone, you can scale quicker ... it could be with suppliers, other car companies, tech companies - we are exploring all these avenues," Fisker said, speaking at the Reuters Automotive Conference in Munich. The PEAR will have 25% fewer parts than a comparable car today, Fisker said. Instead, Fisker will build vehicles from steel, combining multiple parts into one using single stampings, he said. Fisker said eventually the company plans to have production capacity in Europe, China, the United States and India.
CANNES, May 17 (Reuters) - Independent film companies facing a market upended by the entry of streaming services are showing some optimism heading into this year's Cannes Film Festival as the Netflix era has begun flattening out and audiences start trickling back into cinemas post-pandemic. Cannes may make headlines for its glitz and glamour, but as the world's largest event for buying and selling movie rights, its importance to the industry is unparalleled. "It's a transitional time on the business side as the traditional business model that independent buyers use sees lessened value," said O'Shea. The similarity among much of the content offered on streaming platforms leaves theatre audiences wanting something different, an unmet appetite that independent companies could fulfil, he said. "Something good is happening, and I'm sure other streaming services will follow suit," Cannes Film Festival director Thierry Fremaux said in an interview with Le Film francais magazine in April.
This guide has everything you need to know about where to watch a Man City vs. Real Madrid live stream for free tonight. Where to watch Man City vs. Real Madrid in CanadaSoccer fans in Canada will need to stump up some extra cash to enjoy a Champions League live stream of Man City vs. Real Madrid tonight, as DAZN Canada holds the local viewing rights. Man City vs. Real Madrid free live streamThere are several free options available today. Another option to watch Man City vs. Real Madrid for free online is to tune into the Austrian option via Servus TV or perhaps the Luxembourg channel, RTL Zwee, as both are showing a live stream free of charge. How to watch Man City vs. Real Madrid with a VPNSign up for a VPN if you don't have one.
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