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☆ UK net-zero ‘pragmatism’ is an odd way to get real
▼ + stars: | 2023-08-04 | by ( George Hay | ) www.reuters.com time to read: +7 min

Yet official UK figures do not suggest the way to get real on climate change is to go any slower. Sunak himself has defended Britain’s record on climate and says he cares about reaching its 2050 net-zero target. As such the net cost of net zero may be more like 344 billion pounds over three decades, or perhaps only 0.4% of GDP per year. Policy certainty will meanwhile encourage foreign investors to help pay for Britain’s transition, reducing its exposure to gas price shocks. UK energy secretary Grant Shapps said on Aug. 2 that the government remained “absolutely committed” to hitting its net-zero carbon targets by 2050.

Persons: Rishi Sunak, Sunak, dawdling, Andrew Forrest, ”, ” Sunak, Michael Gove, Grant Shapps, “, Neil Unmack, Streisand Neto, Oliver Taslic Organizations: Reuters, Sunak’s Conservative Party, Budget, Reuters Graphics Reuters, ’, McKinsey reckons, Britain, Conservatives, Thomson Locations: Britain, London, China, United States, North

China's Ministry of State Security on Tuesday said China should encourage its citizens to join counter-espionage work, including creating channels for individuals to report suspicious activity and rewarding them for doing do. A system that makes it "normal" for regular people to participate in counter-espionage should be established, the ministry said. That followed an expansion of China's counter-espionage law that took effect in July and bans the transfer of information it sees as related to national security. It has alarmed the United States, which has warned that foreign companies in China could be punished for regular business activities. China's declaration that it is under threat from spies comes as Western nations, most prominently the United States, accuse China of espionage and cyberattacks, a charge that Beijing has rejected.

Persons: Janet Yellen, Mark Schiefelbein, Matt Miller, Cheng Lei, Daphne Psaledakis, Humeyra Pamuk, Mark Porter, Rosalba O'Brien Organizations: China's Ministry of State Security, Astellas Pharma, Thomson Locations: United States, Diaoyutai, Beijing, China

☆ Australia’s $2.5 trln pension stash is one to envy
▼ + stars: | 2023-07-26 | by ( Antony Currie | ) www.reuters.com time to read: +7 min

Sure, mining giant BHP (BHP.AX) has its headquarters in Australia’s second-most populous city, it’s a self-anointed coffee capital and boasts top-notch restaurants. Two other factors have capital-hungry institutions knocking on super funds’ doors. This is especially true of so-called industry funds that are mutually owned and initially catered to specific sectors such as higher education employees or hospitality workers. Daniel Andrews, premier of Victoria, has earmarked industry super funds as minority investors in a state-run plan to build renewable energy plants. Recent ructions in real estate have prompted some super funds to reassess whether the risk and complexity are justified.

Persons: dwarfing, AustralianSuper, California’s CalPERS, London’s, Paul Schroder, Hostplus, Anthony, Daniel Andrews, Breakingviews, outsized, Peter Thal Larsen, Thomas Shum Organizations: MELBOURNE, Reuters, Australian Stock Exchange, Association, Retirement, Canada, Plan Investment Board, Prudential Regulation Authority, APRA, Coal, IFM, Vienna Airport, KPMG, Reuters Graphics, Australian, Trust, Macquarie, Victorian State Department of, UniSuper, Sydney Airport, Victoria, Blackstone, CVC, Thomson Locations: Hong Kong, Melbourne, Australia’s, it’s, Australia, Heathrow, Edinburgh, Europe, United States, Indiana, New York, London

☆ Women’s World Cup: Italy Starts a 16-Year-Old, and Germany Leans on Its Experience
▼ + stars: | 2023-07-24 | by ( Juliet Macur | The New York Times | ) www.nytimes.com time to read: +16 min

Women’s World Cup: Italy Starts a 16-Year-Old, and Germany Leans on Its Experience Italy’s Giulia Dragoni became one of the youngest players ever to appear in the tournament. Credit... Hannah Mckay/Reuters Morocco’s presence at the Women’s World Cup already has yielded a string of notable moments. Italy vs. Argentina Italy reached the quarterfinals of the last World Cup, a solid result after a 20-year absence from the tournament. The Brazilian legend is appearing in her sixth World Cup at age 37, and still hoping to capture an ever-elusive title. The South Koreans have made it to the knockout stage once in three previous World Cup appearances, in 2015.

Persons: Giulia Dragoni, Morocco Asanka Brendon Ratnayake, Hannah Mckay, Morocco James Ross, Robert Cianflone, Hamish Blair, Argentina Phil Walter, Abbie Parr, David Rowland, Argentina Buda Mendes, Panama Bienvenido Velasco, Naomi Girma, Julie Ertz, Alyssa Naeher, Andrew Cornaga, Vlatko Andonovski, Ertz, Andonovski, Alana Cook, Girma, ” Girma, Becky Sauerbrunn, Sauerbrunn, ” Andonovski, Nouhaila, Nouhaila Benzina, Prince Ali bin al, Hussein, Benzina, Morocco’s, Reynald Pedros, Ghizlane, Chebbak, “ It’s, ”, Megan Rapinoe, Quinn, Pedros, Sam Kerr, Australia’s Sam Kerr, Darren England, Kyra Cooney, Kerr, “, Sam, ” Cooney, we’re, Sam’s, ZT8aF7puDp — Tracey Holmes, Cooney, Cristiana, Phil Walter, Marta, Pia Sundhage, Milena Bertolini, Little Messi, Chiara Beccari, Italy nabbed, Cristiana Girelli Organizations: Morocco, Reuters, Associated Press, Argentina, Getty, Panama, Group, Argentina Cristiana, Brazil Group, Vietnam, United States, Tokyo Olympics, Portugal, U.S, North, Germany, FIFA, Moroccan, BBC, ., Ireland, United, European Locations: Germany, Morocco, Reuters Germany, Reuters Morocco, Associated Press Italy, Italy, Associated Press Argentina, Reuters Italy, Argentina, Brazil, Panama, Alyssa Naeher ., United States, Ertz, Netherlands, United, Vietnam, Melbourne ., Arab, France, Moroccan, Melbourne, Brisbane, Australia, Nigeria, Colombia, South Korea, Argentina Italy

☆ What’s driving sunscreen’s big boom
▼ + stars: | 2023-07-19 | by ( Leah Asmelash | ) edition.cnn.com time to read: +8 min

In 2020, the global value of sun care products was $10.7 billion. Millennial skin care favorites — Paula’s Choice ($34), Glossier ($25), Drunk Elephant ($34) — have all created their own luxury daily sunscreens. “I think there is a more pervasive media representation of (the benefits of) wearing sunscreen, like preventing aging and preventing skin cancer,” Waldman said in a phone interview. In a study published in 2021, scientists found that more children in middle and high school were wearing sunscreen, a trend researchers partially attributed to social media. Meanwhile, young influencers on TikTok parade their multi-step skin care routines, with many featuring products like retinoids and AHAs, celebrated for their role in minimizing signs of aging.

Persons: “ Sunscreens, ”, Luke Maxfield, —, Naomi Osaka, Pharrell, Naana, ” Boakye, “, ” Dr, Abigail Waldman, she’s, ” Waldman, ” Maxfield, Supergoop, they’re, Violette, Maxfield, Waldman, Boakye, you’re Organizations: CNN, Grand View Research, Prestige, Harvard Medical School, dermatologists, ” Research

[1/34] Bulls from the Fuente Ymbro ranch run along Estafeta street during the fourth running of the bulls during Sanfermines in Pamplona, Spain, July 10, 2023. The famed bull-running festival engulfs downtown Pamplona every July when revellers from around the globe descend upon the northern Spanish city... Read moreSummary Picture essayPAMPLONA, Spain, July 12 (Reuters) - The bell tolls - eight chimes. Some are drawn to the Sanfermines - as the festival is popularly known - by the timeless prose of one of the grandees of 20th-century American literature. For the past 24 years, she has rented the same apartment in Pamplona for the festival with her family. WHAT HAS CHANGED AND WHAT HASN'TThere's a recurring debate among Pamplona's residents: Is the city's overcrowding during Sanfermines Hemingway's fault?

Persons: Fuente, St Fermin, savoured, Ernest Hemingway, Hemingway, Bill Hillmann, Hillmann's, He's, wilder, Hemingway's, John, Michael ., gored, hasn't, I've, Hillmann, Cheryl Mountcastle, Mary Welsh, Arrieta, Sanfermines, William Kappal, Kappal, it's, Susana Vera, David Latona, Rosalba O'Brien Organizations: Bulls, American, New, YouTube, Thomson Locations: Pamplona, Spain, Spanish, PAMPLONA, British, Paris, Chicago, New Orleans, Sanfermines, Miguel, France, Izu

Uber and Facebook on Friday said they had received advice from PwC Australia about the law. "We had no knowledge their advice may have been based on improperly obtained information," an Uber spokesperson said. Uber dropped PwC Australia as a tax adviser in 2016 after "engagements" with the Australian Tax Office, the spokesperson added. Uber and Facebook's links to PwC on the leaked tax plans were first reported by the Australian Financial Review on Friday. A PwC Australia spokesperson said the matter "was a PwC issue" and its "clients were not involved in any wrongdoing and no confidential information was used to enable clients to pay less tax."

Persons: Uber, PwC, PwC's, Lewis Jackson, Sonali Paul Organizations: SYDNEY, PwC, Facebook, Reuters, Google, Australian Tax Office, Treasury, Australian, Tax, Board, Public Company, Thomson Locations: PwC Australia, Australia

☆ Brisbane 2032's long lead-in a double-edged sword
▼ + stars: | 2023-06-28 | by ( Nick Mulvenney | Thomson Reuters | Leads Coverage Of Sport Across The Asia-Pacific. Still Reports On The Full Panoply Of Sport. Many Olympics World Cups World Championships Grand Slams Grands Prix | ) www.reuters.com time to read: +3 min

[1/2] A view shows the Olympic Rings in front of The Olympic House, headquarters of the International Olympic Committee (IOC), during the executive board meeting of the International Olympic Committee (IOC), in Lausanne, Switzerland, March 28, 2023. While most modern Olympics have had seven years from winning hosting rights to opening ceremony, Brisbane had a big headstart after being awarded Australia's third Summer Games back in 2021. Construction delays have been a major issue for several recent Games but Brisbane is unlikely to face such problems with 84% of the planner venues already existing facilities. After wide consultation with stakeholders and locals, the planned legacy of the Games is already being worked out. "Local jurisdiction dictates what happens in stadiums and... Australian law allows beer to be served," Liveris said.

Persons: Denis Balibouse SYDNEY, Cindy Hook, Kirsty Coventry, it's, Andrew Liveris, Christophe Dubi, Liveris, Nick Mulvenney, Christian Radnedge Organizations: Rings, Olympic House, International Olympic Committee, REUTERS, Brisbane, Olympic, Games, Angeles Olympics, IOC, Paris, Thomson Locations: Lausanne, Switzerland, Brisbane, Queensland, LA

☆ Citing Doubt, Officials Free Woman Convicted in 4 Children’s Deaths in 2003
▼ + stars: | 2023-06-04 | by ( Yan Zhuang | ) www.nytimes.com time to read: +1 min

Two decades ago, Kathleen Folbigg was convicted of smothering all four of her young children. But Ms. Folbigg, who was sentenced to 40 years in prison, insisted she was innocent. On Monday, the attorney general of New South Wales, Michael Daley, announced that Ms. Folbigg, 55, had been given a full pardon and released from prison. “What is the difference between today and what has transpired in the past is that new evidence has come to light,” Mr. Daley said. “It is appropriate that we do have the mechanisms to reconsider the source of questions in light of new evidence.”

Persons: Kathleen Folbigg, Folbigg, Michael Daley, Mr, Daley, ” Locations: New South Wales

☆ U.S.-China ties weigh on security summit as defense chiefs meet in Singapore
▼ + stars: | 2023-06-02 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Regional concerns were underscored recently with the Pentagon saying that a Chinese fighter jet made an "unnecessarily aggressive maneuver" against an American reconnaissance plane in the South China Sea late last week. Under President Xi Jinping's leadership, China has grown more hawkish on the global stage, particularly in its historic claims over Taiwan and the South China Sea. "What you are seeing is the emergence of a regional security architecture," said Thompson of the LKY School. "The region is really coming together with a common interest in regional security and stability." Singapore is Austin's second stop on a whirlwind tour that will also take him to Japan, India and France.

Persons: Li, Xi Jinping's, We're, Chin, Hao Huang, Wang Wenbin, Huang, What's, Anthony Albanese, Thompson, Li —, Donald Trump, Austin, Joe Biden Organizations: Yale, NUS College, CNBC, International Institute for Strategic Studies, Australian, LKY, Pentagon, Association of Southeast Asian Nations, Observers Locations: Austin, American, South, China, Taiwan, South China, Asia, Pacific, Brunei, Indonesia, Malaysia, Philippines, Vietnam, Singapore, Japan, South Korea, Australia, India, Beijing, Korea, France, U.S

☆ Asia stocks slump to monthly loss as China data disappoints
▼ + stars: | 2023-05-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Australian dollar is sliding towards a fourth consecutive monthly loss and at $0.6492 is barely above last week's seven-month lows. Aussie stocks (.AXJO) are eying their worst month since February with a 2.4% drop. Based on these factors, we raise our end-2023 targets for Japanese stocks, to 2,300 for TOPIX and 32,500 for the Nikkei 225." Benchmark 10-year yields dropped 12.4 basis points overnight and fell another 1.5 bps on Wednesday in Asian trade to 3.6808%. The drop in yields put a pause in what looks to be the U.S. dollar's best monthly rally since February.

Persons: stockmarkets, Carol Kong, Masashi Akutsu, Joe Biden, Treasuries, Philip Lowe, Sam Holmes Organizations: Nikkei, Commonwealth Bank of Australia, of America, Republican, Brent, Thomson Locations: China, Asia, Japan, SINGAPORE, Pacific, U.S, United States

☆ Iran executes three men over recent protests, draws protests
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

May 19 (Reuters) - Iran on Friday executed three men it said were implicated in the deaths of three members of its security forces during last year’s anti-government demonstrations, drawing protests at home and abroad. Families and supporters held nightly vigils outside the Dastgerd prison in Isfahan in support of the three men who were being held inside. U.N. rights experts said in a statement they were "deeply alarmed" at continuing executions of Iran protesters. State media broadcast videos of what were presented as the defendants' confessions, which Amnesty International said were extracted by torture. The men were sentenced to death on the charge of "enmity against God" for the alleged possession of a firearm.

Plenty of uncertainty around global wheat production and trade remains, especially in the Black Sea, since 2023-24 grain crops are far from settled. Wheat SU among major exporters in May 2022 was pegged at a 15-year low of 13.5% for 2022-23, expanding to 13.75% by February 2023. This SU trend in major wheat exporting countries is not exclusive to 2022-23. USDA has 2023-24 Ukraine wheat production at 16.5 million tonnes with exports at 10 million, down from 20.9 million and 15 million in 2022-23, respectively. OTHER HOTSPOTSIn top exporter Russia, USDA shows 2023-24 wheat production down 11% from last year's record, though exports are seen edging up 2% to a new high.

☆ US woman arrested in Sydney after airport staff find a golden gun in her luggage
▼ + stars: | 2023-04-25 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +2 min

CNN —An American woman has been arrested in Sydney after arriving on a flight from Los Angeles with 24-carat gold-plated handgun packed in her luggage. Depending on the outcome, she could be removed from the country, according to the ABF. Australian Border Force officers detected the gun in the woman's luggage. Gun violence has reached record levels in the United States, which is the only nation in the world where civilian firearms outnumber people. The US also has more deaths from gun violence than any other developed country per capita.

Steep falls in the shares of these companies and regional banks, a major source of investor concern, dragged down the main indices. This is the first major economic indicator since new Bank of Japan Governor Kazuo Ueda took over earlier this month. Foreign investors poured nearly $12 billion into Japanese equities last week, their biggest weekly net purchases since at least January 2018. Here are three key developments that could provide more direction to markets on Friday:- Japan inflation (March)- Japan and Australia flash PMIs (April)- South Korea producer price inflation (March)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Australia Plots Biggest Shake-Up of Central Bank in Decades
▼ + stars: | 2023-04-19 | by ( James Glynn | ) www.wsj.com time to read: 1 min

An independent review of the Reserve Bank of Australia concluded it was ill-equipped to meet current challenges. Photo: Brent Lewin/Bloomberg NewsSYDNEY—Australia said it would make broad changes to how its central bank operates, including who gets to decide interest rates, amid criticism from some lawmakers and economists that officials took too long to tighten policy in response to accelerating inflation. The biggest change will see the Reserve Bank of Australia adopt a monetary policy committee structure that has parallels to the setup of the Bank of Canada and the Bank of England. Australian Treasurer Jim Chalmers said RBA policy makers would now gather to set interest rates eight times a year, compared with the current 11 meetings.

☆ Barley talks may be 'first step' toward better trade ties with China. Australia hopes wine is next
▼ + stars: | 2023-04-14 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

"Barley is the first step in a long process of stabilizing our trading relationship with China," Farrell said Friday, after the two economic giants agreed this week to work toward removing tariffs on Australian barley. Since China's 2020 tariffs on barley, Australia has been essentially blocked from exports to that market worth about $620 million ($916 million Australian dollars) in 2018-19. Don Farrell Minister for Trade and TourismWhen asked about a timeline on a complete resolution to the barley tariffs, the Australian trade minister said he was looking at "the next three to four months." While the future of Australian barley returning to China again is still not confirmed, Farrell is hoping wine could be next on the list. In March 2021, China introduced a crushing five-year tariff of up to 218% on Australian wine.

☆ Asian shares muted, dollar buoyant on odds of rate rise
▼ + stars: | 2023-04-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.12% higher, while Japan's Nikkei (.N225) gained 0.5%. Traders have increasingly become convinced that the Fed will cut rates in the second half to ward off an economic downturn. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, eased to 3.951%, after closing at 3.993% on Friday's abbreviated trading. A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes , seen as an indicator of economic expectations, was at -57.7 basis points. The yen weakened 0.41% to 132.69 per dollar as Japan's new central bank governor Kazuo Ueda takes over from Haruhiko Kuroda.

☆ Asian shares subdued as jobs data raises odds of Fed rate hike
▼ + stars: | 2023-04-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.14% higher, while Japan's Nikkei (.N225) gained 0.5%. China shares eased on Monday, with the bluechip CSI300 Index (.CSI300) 0.2% lower, while the Shanghai Composite Index (.SSEC) down nearly 0.3%. Markets are now pricing in 66% chance of the Fed raising interest rates by 25 basis points in its May 2-3 meeting, according to CME FedWatch tool. Traders have increasingly become convinced that the Fed will cut rates in the second half to ward off an economic downturn. In the currency market, the dollar index , which measures the U.S. currency against six major peers, rose 0.118% to 102.14.

☆ Why fans say trips to Disney World are now 'incredibly complicated' to pull off
▼ + stars: | 2023-04-03 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +12 min

But some travelers aren't thrilled about what it takes to pull off a trip to Walt Disney World these days. He said he goes to Disney World about "once a month." They will leave thinking food at Disney World is a "cheeseburger and a hot dog … which could not be farther from the truth," he said. Walt Disney World comprises four theme parks, two water parks and dozens of themed hotels, plus a shopping and entertainment area called Disney Springs. He called Disney World an "amazing spa destination" and said Disney Springs, formerly known as Downtown Disney, has shopping, live music and fantastic restaurants.

☆ Bank relief and Alibaba plans nudge stocks higher
▼ + stars: | 2023-03-30 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained for a third day in a row, rising 0.3%. It is eyeing two consecutive quarters in the green for the first time since the middle of 2021. The yen last traded at 132.75 to the dollar. Two-year yields are down 30 basis points for the quarter, the first quarterly fall since March 2020. Investors are hoping the plans signal authorities' tacit approval for growth and profit ahead.

☆ Australia's inflation slows to 8-month low in Feb, adding to rate pause case
▼ + stars: | 2023-03-29 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, March 29 (Reuters) - Australian inflation slowed to an eight-month low in February, thanks in part to a sharp retreat in holiday travel and accommodation, adding to the case for a pause in interest rate hikes next month. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 6.8% in the year to February, the slowest since June last year. Prices excluding volatile fruit, vegetables and fuel rose 6.9% in the year to February, down from 7.5% in January. While many analysts still think the RBA will hike at least once more, some believe it might pause in April before moving in May following inflation data for the first quarter. Reporting by Wayne Cole; Editing by Christian Schmollinger and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Calm returns: Investors switch to bank fundamentals
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Anshuman DagaTurbulence in global markets is gradually giving way to stability. A day after regional U.S. lender First Citizens BancShares moved to scoop up the assets of failed Silicon Valley Bank, brave investors can probably begin to ask, "Is the worst over?" A strong show of confidence is coming from U.S. authorities as bank regulators say the system is sound but rules need review. A recover in U.S. markets, especially in beaten-down bank shares, lifted Asian stocks on Monday while the safe-haven dollar declined. While the analysts expect a continuation of declining credit growth which is consistent with monetary tightening, they don't expect any credit crunch.

☆ Asia shares bounce gingerly as bank fears linger
▼ + stars: | 2023-03-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.4%. Japanese markets were closed for a holiday, which left Treasuries untraded in Asia and lightened currency trade. S&P 500 futures were flat and European futures rose 0.5%. The tense calm follows a Swiss government-backed buyout of Credit Suisse by UBS that seems, for now, to have cauterised concerns over European financial stability. The broader path for rates, meanwhile, is set to become clearer later in the week when the Fed and Bank of England set policy levels.

☆ Asia stocks bounce gingerly but bank fears lurk
▼ + stars: | 2023-03-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

U.S. futures rose 0.2% in early Asia trade. A Swiss government-backed buyout of Credit Suisse by UBS has cauterized the immediate concern over European financial stability. But the wipeout of some Credit Suisse bondholders has sent a shockwave through bank debt, and persistent signs of stress at U.S. regional lenders has investors on high alert. Bond markets whipsawed overnight as traders seek to figure out what the bank stress means for rates policy. U.S. interest rate futures have priced in just one more 25 basis point hike before a series of cuts beginning as soon as June.

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