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☆ Morgan Stanley a step closer to setting up futures company in China
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI/SINGAPORE, April 6 (Reuters) - Morgan Stanley (MS.N) said on Thursday it looks forward to setting up a futures company in China after the country's securities regulator accepted its application. China Securities Regulatory Commission (CSRC) accepted Morgan Stanley's application to open up a futures business in the world's second-largest economy on Monday, according to CSRC's website. A Morgan Stanley spokesperson said the bank "looks forward to establishing a futures company in China as we grow our domestic business footprint." Rival JPMorgan Chase & Co (JPM.N) became the first foreign bank that fully owns a futures company in China in 2020. Morgan Stanley would potentially become the second foreign bank to wholly own a futures business in China should its application get CSRC's approval.

☆ Oil prices ease as weak economic data clouds demand prospects
▼ + stars: | 2023-04-05 | by ( Katya Golubkova | ) www.reuters.com time to read: +1 min

TOKYO, April 6 (Reuters) - Oil prices eased in early Asian trade on Thursday after weak U.S. job openings data signalled cooling economic conditions which may hit demand. The data offset market's reaction to earlier OPEC+ cuts and the recent reduction of U.S. crude and fuel stockpiles. "Crude oil's rally paused as it battled the headwinds created by the weak economic data. U.S. crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed. Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million barrels and 3.6 million barrels, respectively.

☆ U.S. trade chief Tai defends pursuit of non-traditional trade deals
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +4 min

She said past trade deals focused on "aggressive liberalization and tariff elimination" made the U.S. and other countries too dependent on China for critical materials. Her remarks come amid growing calls from U.S. business and agricultural trade groups for Congress to approve new "fast track" negotiating authority for USTR to pursue traditional free trade deals. These groups argue the U.S. is falling behind the growing network of free trade deals forged by China and the European Union in recent years, putting U.S. farmers and food companies at a disadvantage against many foreign competitors in key markets. Republicans in the U.S. Senate and House of Representatives also pelted Tai with complaints about the lack of new tariff-reducing trade deals during hearings last month. Tai told reporters it has been difficult to explain the need to break away from the traditional vision of ever-liberalizing trade deals.

☆ Stocks meander as US jobs dry up, kiwi jumps on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Futures indicated European markets were set for a broadly lower open, with Eurostoxx 50 futures down 0.26%, German DAX futures down 0.12%. Two-year treasury yields , which closely track short-term rate expectations, dived almost 15 basis points and the dollar tracked the move to hit two-month troughs. Elsewhere investors see a few more rate hikes in store in Europe, where German exports have turned surprisingly strong. The euro flat at $1.0952, just shy of a two-month high it hit overnight on the dollar at $1.0973. Commodity markets are settling after Monday's surge in oil prices on news of surprise OPEC+ production cuts.

April 4 (Reuters) - Wisconsin voters on Tuesday elected liberal Janet Protasiewicz to the state Supreme Court, flipping control to a liberal majority ahead of rulings on an abortion ban and other matters that could play a role in the 2024 presidential election. But it was abortion that dominated the campaign, with the court expected in the coming months to decide whether to uphold the state's 1849 abortion ban. Protasiewicz put abortion at the center of her campaign, saying in one advertisement that she supports "a woman's freedom to make her own decision on abortion." [1/9] Wisconsin Supreme Court candidate Janet Protasiewicz celebrates after the race was called for her during her election night watch party in Milwaukee, Wisconsin, U.S., April 4, 2023. In addition, the court may revisit the state's congressional and legislative maps, which Republicans have drawn to maximize their political advantage.

April 4 (Reuters) - Wisconsin voters on Tuesday elected liberal Janet Protasiewicz to the state Supreme Court, flipping control to a liberal majority ahead of rulings on an abortion ban and other matters that could play a role in the 2024 presidential election. But it was abortion that dominated the campaign, with the court expected in the coming months to decide whether to uphold the state's 1849 abortion ban. That law took effect after the U.S. Supreme Court's decision last year to eliminate a nationwide right to abortion. [1/7] Wisconsin Supreme Court candidate Janet Protasiewicz celebrates after the race was called for her during her election night watch party in Milwaukee, Wisconsin, U.S., April 4, 2023. Republicans portrayed Protasiewicz as soft on crime and said she would use the court to advance a liberal agenda, regardless of the law.

☆ Explainer: Who is Karen McDougal, the Playboy model in the Trump case?
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 4 (Reuters) - The criminal case against former President Donald Trump, unveiled on Tuesday, rests not just on his high-profile alleged affair with porn star Stormy Daniels but also on a separate liaison with Playboy model Karen McDougal. A 52-year-old former model and actress from Indiana, McDougal was a Playboy magazine Playmate of the Year in the late 1990s. They said Trump, his lawyer Michael Cohen and AMI former chief executive David Pecker, a longtime friend of Trump, agreed that Trump would reimburse AMI. McDougal later sued AMI and reached an agreement that allowed her to discuss her relationship with Trump. ONE OF TWOThe transaction is one of two involving alleged affairs that are at the heart of the criminal case against Trump.

☆ Israeli police attack worshippers in Jerusalem's Al Aqsa
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

[1/4] Israeli border policemen set up a fence near Al-Aqsa compound also known to Jews as the Temple Mount, while tension arises during clashes with Palestinians in Jerusalem's Old City, April 5, 2023. REUTERS/Ammar AwadJERUSALEM, April 5 (Reuters) - Israeli police attacked dozens of worshippers in Jerusalem's Al-Aqsa Mosque compound before dawn on Wednesday, witnesses said, in what Israeli police said was a response to rioting. It said in a statement that Israeli forces were preventing its medics from reaching the mosque. Friction at the Al-Aqsa Mosque compound, known to Jews as the Temple Mount, has set off violence in recent years. Videos circulating on social media, which Reuters could not immediately verify, showed fireworks going off and police beating people inside the mosque.

☆ Cash App founder Bob Lee stabbed to death in San Francisco, says father
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - Block Inc (SQ.N)-owned Cash App's founder Bob Lee was stabbed to death in San Francisco on Tuesday, according to a Facebook post shared by his father. loading"I just lost my best friend, my son Bob Lee when he lost his life on the street in San Francisco early Tuesday morning," said Rick Lee in a post which linked a TechCrunch article on the stabbing. The San Francisco Police Department said late on Tuesday that a 43-year-old man was stabbed early in the day and succumbed to injuries in the hospital. Cash App allows users to transfer money through a mobile application and is touted by the company as an alternative to traditional banking services. Lee was the chief product officer for cryptocurrency company MobileCoin, where he was also previously an early-stage investor and adviser, the company said on Twitter.

REUTERS/Andrew KellyApril 3 (Reuters) - A Delaware judge on Monday dismissed Merck & Co's (MRK.N) lawsuit seeking to hold Bayer AG (BAYGn.DE) responsible for more talc-related liabilities stemming from its $14.2 billion purchase of Merck's consumer care business in 2014. Bayer welcomed the decision, saying that it expected Merck to "take full responsibility for the product claims". "Bayer will continue to defend itself against any further efforts by Merck to avoid or improperly transfer its liabilities to Bayer," the company said in a statement. The $14.2 billion purchase also included Merck's Claritin allergy medicine and Coppertone sunscreen lines. The case is Merck & Co v. Bayer AG, Delaware Chancery Court, No.

☆ Biden to discuss risks of AI in Tuesday meeting with science advisers
▼ + stars: | 2023-04-04 | by ( Jeff Mason | ) www.reuters.com time to read: +2 min

WASHINGTON, April 4 (Reuters) - U.S. President Joe Biden will discuss the "risks and opportunities" that artificial intelligence poses for people, society and national security during a meeting with science and technology advisers at the White House on Tuesday, an official said. "The president will discuss the importance of protecting rights and safety to ensure responsible innovation and appropriate safeguards," a White House official said in a statement ahead of Biden's meeting. Artificial intelligence or AI is becoming a hot topic for policy makers. Senator Chris Murphy has urged society to pause as it considers the ramifications of AI. Last year the Biden administration released a blueprint "Bill of Rights" to help ensure users' rights are protected as technology companies design and develop AI systems.

☆ Record California snowpack bounty poses renewed flood risks
▼ + stars: | 2023-04-04 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

But this year's abundant Sierra snowpack also poses a severe risk of renewed flooding to parts of California, especially the lower San Joaquin Valley, during the spring thaw, according to state Department of Water Resources (DWR) officials. More widely, however, electronic readings from 130 snow sensors throughout California showed the statewide snowpack's water equivalent at 61.1 inches, or 237% of average, tying the record statewide average level set in April of 1952. "This year's result will go down as one of the largest snowpack years on record in California," said Sean de Guzman, manager of the DWR snow survey8 and water supply forecasting unit. Guzman said California's reservoirs, severely drained just months ago, have all been replenished to more than 100% of average statewide. Long-term drought conditions in the Colorado River watershed will continue to impact millions of residents of Southern California residents, the DWR said.

Trump wrote on his Truth Social profile shortly after arriving in New York from Florida on Monday, urging supporters to donate to his campaign. The arraignment, where Trump will be in court to hear charges and have a chance to enter a plea, was planned for 2:15 p.m. (1815 GMT) on Tuesday. Citing a single source briefed on Tuesday's arraignment procedures, Yahoo said none of the charges against Trump were misdemeanors. PROTESTS AND POPULARITYPolice over the weekend began erecting barricades near Trump Tower - where Trump arrived on Monday after flying in from Florida - and the Manhattan Criminal Court building, with demonstrations expected at both sites on Tuesday. On the Manhattan case, Trump in 2018 initially disputed knowing anything about the payment to Daniels.

☆ Ukraine battles on in Bakhmut as Finland joins NATO
▼ + stars: | 2023-04-04 | by ( Pavel Polityuk | ) www.reuters.com time to read: +5 min

[1/2] An Ukrainian serviceman sits atop an infantry fighting vehicle (IFV), amid Russia's invasion of Ukraine, near the bombed-out eastern city of Bakhmut, in the eastern Donetsk region, Ukraine, April 2, 2023. "From a legal point of view, Bakhmut has been taken," said Prigozhin, who has previously made premature claims. "Bakhmut is Ukrainian and they have not captured anything and are very far from doing that," Serhiy Cherevatyi, spokesperson for the eastern military command, told Reuters. Western pressure on Russia may increase with Finland, which shares a 1,300-km (810-mile) border with Russia, joining NATO on Tuesday. "In the event that the forces and resources of other NATO members are deployed in Finland, we will take additional steps to reliably ensure Russia's military security," he told RIA.

☆ Russia to place nuclear weapons near Belarus' borders with NATO
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

April 3 (Reuters) - Russia will move its tactical nuclear weapons close to the western borders of Belarus, the Russian envoy to Minsk said on Sunday, placing them at NATO's threshold in a move likely to further escalate Moscow's standoff with the West. In one of the Russia's most pronounced nuclear signals since the beginning of its invasion of Ukraine 13 months ago, President Vladimir Putin said on March 26 that Russia will station tactical nuclear weapons in Belarus. The weapons "will be moved to the western border of our union state and will increase the possibilities to ensure security," Russian ambassador to Belarus, Boris Gryzlov, told Belarusian state television. The U.S. and Kyiv's other allies have said they were concerned about the possibility that Russia would send tactical nuclear weapons to Belarus, with President Joe Biden saying it was "worrisome." President Alexander Lukashenko said on Friday that Belarus would also allow Russia to put intercontinental nuclear missiles there too if necessary.

☆ Oil prices jump in blow to global inflation hopes
▼ + stars: | 2023-04-03 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Brent oil futures jumped $4.30 to $84.19 a barrel on news output would be cut by around 1.16 million barrels per day, while U.S. crude climbed $4.17 to $79.84. The change comes before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia. "That means that oil markets may potentially see around 1% of global oil supply or more being curtailed from May." The latest reductions could lift oil prices by $10 per barrel, the head of investment firm Pickering Energy Partners said on Sunday. The rise in oil prices is bad news for Japan's trade balance given it imports most of its energy.

☆ One New Zealand to use SpaceX satellites to improve coverage
▼ + stars: | 2023-04-03 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, April 3 (Reuters) - One New Zealand, formerly Vodafone NZ, said on Monday it had signed an agreement with billionaire Elon Musk's SpaceX to use the U.S. company's Starlink satellites to provide cell coverage to 100% of New Zealand from late 2024. The technology would initially be for text and multimedia messaging services but would later extend to voice and data services in areas of New Zealand not currently connected, One New Zealand added in a statement. One New Zealand's mobile network covers 98% of places New Zealanders live and work but currently covers only 50% of the country’s landmass. "When the service goes live, there will be coverage across the country whether you’re out on your boat, climbing a mountain, fixing a remote road or on your farm,” One New Zealand Chief Executive Jason Paris said. Reporting by Lucy Craymer; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & Co (JPM.N). M&A volumes dropped 44% to $282.7 billion in the U.S. and 70% to $81.87 billion in Europe. Reuters Graphics"Having a well-functioning financing market is a critical ingredient for M&A. Global M&A volumes in Q1 2023LACK OF CONFIDENCEThe depressed market valuations also presented an opportunity for prominent activist investors to launch new proxy fights, with dealmakers anticipating a boost to M&A volumes from activist campaigns in the coming quarters. "Inflationary pressures aren't subsiding as fast as people expected; there's still a lot of geopolitical tensions, and in a lot of ways, the disruption in the financing market is intensifying," Langston said.

☆ Thirty-five dead, 16 hurt after roof of stepwell collapses in India
▼ + stars: | 2023-03-31 | by ( Saurabh Sharma | ) www.reuters.com time to read: +1 min

LUCKNOW, India, March 31 (Reuters) - At least 35 people were killed and 16 were injured after the roof of a stepwell in a temple complex collapsed in central India, a local government official said on Friday. The incident occurred in the central Indian city of Indore after a concrete slab covering the roof of a stepwell in a temple complex collapsed, crushing devotees who had gathered to celebrate the Hindu festival of Ram Navami on Thursday, officials said. Stepwells are a common feature across India, built hundreds of years ago, many of them ornately decorated, with access to a body of water through stairs and niches. "We have rescued 18 people, 35 have been found dead and 16 are injured," Ilayaraja T, a top local government official, told Reuters. Prime Minister Narendra Modi expressed condolences and announced compensation for the dead and injured in the incident.

☆ Thirty-six dead, 16 hurt in India after roof collapse at temple
▼ + stars: | 2023-03-31 | by ( Saurabh Sharma | ) www.reuters.com time to read: +2 min

[1/2] Rescuers conduct an operation at a roof collapse site in Indore, India March 31, 2023 in this still image from video. ANI/Reuters TV via REUTERSLUCKNOW, India, March 31 (Reuters) - Rescuers used cranes and ropes to look for survivors a day after the roof of a well collapsed in a temple complex in central India killing 36 people and injuring 16, a government official said on Friday. Stampedes and accidents in religious places are not uncommon in India, where lack of crowd control and cramped spaces can spell danger. Prime Minister Narendra Modi expressed condolences and announced compensation for the dead and injured in the incident. Reporting by Saurabh Sharma; writing by Shilpa Jamkhandikar; Editing by Stephen Coates, Gerry Doyle, William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Manchin threatens to sue US Treasury over EV tax credit rules
▼ + stars: | 2023-03-30 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, March 29 (Reuters) - Senate Energy Committee Chair Joe Manchin said on Wednesday he may go to court after the U.S. Treasury releases guidance later this week on battery sourcing guidance for electric vehicle tax credits. Manchin said he is most concerned about how Treasury will classify processing and manufacturing in determining eligibility for $7,500 EV tax credits. Manchin, who has often pushed fossil fuel industry interests in Congress, says he is trying to move the EV battery supply chain from China. Reuters reported earlier the Treasury battery sourcing rules for electric vehicle tax credits, due out by Friday, will result in fewer vehicles qualifying for full or partial credits. The EV rules are part of a $430 billion bill passed by Democrats in August to cut climate emissions and reduce drug costs, dubbed the Inflation Reduction Act.

☆ Oil steadies as U.S. crude draw offset by Russian supplies, stronger dollar
▼ + stars: | 2023-03-30 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

Companies United States of America FollowMarch 29 (Reuters) - Oil steadied in early Asian trade on Thursday as a surprise draw in U.S. crude oil stockpiles that supported prices was offset by a smaller-than-expected cut to Russian supplies and stronger dollar. West Texas Intermediate U.S. crude fell 6 cents, or 0.1%, to $72.91 a barrel. Helping to support prices, U.S. crude oil stockpiles fell unexpectedly last week as refineries ramped up production after maintenance season and imports fell to a two-year low, the U.S. Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) fell by 7.5 million barrels in the week to March 24 to 473.7 million barrels, compared with analysts' expectations in a Reuters poll for a 100,000-barrel rise. Meanwhile, reports about Russian crude production falling by around 300,000 barrels a day in the first three weeks of March, less than the targeted cuts of 500,000 bpd, and strength in the U.S. dollar, erased oil price gains.

WASHINGTON, March 30 (Reuters) - Efforts to build a floor under U.S.-China relations have yet to be successful and coming months will determine if it is possible to reestablish constructive diplomacy with Beijing, a top White House official said on Thursday, stressing the need for "Cold War"-era hotlines and other crisis mechanisms. Campbell said the U.S. was in the early stages of a new phase of competitive relations with China. Campbell said the United States was stepping up its focus on the Indo-Pacific in spite of the war in Ukraine and this would been seen in its budgets, engagements, aid and assistance. He pointed to India, which is due to take part in another summit of the so-called Quad countries in Australia expected in May, and said he believed its relationship with the United States was the most important of the 21st century. Reporting by David Brunnstrom and Michael Martina; Editing by Leslie Adler and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Alcaraz dumps Fritz to reach Miami semis, Medvedev advances
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +3 min

[1/4] Mar 30, 2023; Miami, Florida, US; Carlos Alcaraz (ESP) reacts after winning the first set against Taylor Fritz (USA) (not pictured) in a men's singles quarterfinal on day eleven of the Miami Open at Hard Rock Stadium. It was a key for me to break the serve at the beginning." "It helped me and I only played better and better, apart from one bad game on my serve, but it happens." Medvedev will next face fellow Russian Karen Khachanov, who advanced with a 6-3 6-2 win over Argentine Francisco Cerundolo. Reporting by Frank Pingue in Toronto; Editing by Ed Osmond and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Turkish parliament ratifies Finland's NATO accession as Sweden kept waiting
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +4 min

The Turkish parliament was the last among the 30 members of the alliance to ratify Finland's membership after Hungary's legislature approved a similar bill earlier this week. Finland and Sweden asked to join NATO last year in response to Russia's invasion of Ukraine. "NATO membership will strengthen Finland's security and improve stability and security in the Baltic Sea region and Northern Europe," the Finnish government said in a statement following the Turkish parliament vote. Twe Turkish parliament's ratification of Finland's NATO membership is set to be approved by President Tayyip Erdogan and then published in the country's Official Gazette. When Finland's instrument of accession document reaches the U.S. State Department, the Nordic country will formally become a NATO member.

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