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☆ U.S. wants World Trade Organization dispute system fixed by 2024
▼ + stars: | 2023-01-26 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

The WTO's appeals bench, which rules on top disputes, has been mothballed for over two years due to Trump-era blockages of adjudicator appointments. Under President Joe Biden, Washington has resisted calls by WTO members to approve appointments and has instead been leading negotiations on how to reboot the WTO's dispute system. "Our goal is a fully functioning (dispute system) by 2024," Deputy United States Trade Representative Maria Pagan told Reuters in her first public comments on the closed-door talks, saying Washington was "very committed" to reforms. The United States has criticized the WTO's alleged overreach and lengthy processes and it has strongly contested some of its recent rulings against the United States. Pagan described the process as "frustrating" but said she was hopeful a breakthrough had been found, without elaborating.

[1/6] French energy workers on strike gather with dockers near tyres set on fire as they protest against French government's pension reform plan, in the port of Saint-Nazaire, France, January 26, 2023. An Elabe poll for BFM showed 72% of the French are against the pension reform. "Oil workers are against this (pension) reform but they don't want to be on the front line," said a CGT union representative for Exxonmobil. A spokesperson for Esso, whose two French refinery sites are run by ExxonMobil (XOM.N), said only truck loading operations were suspended at Fos, with everything else operating normally. A union representative added that production at the Port Jerome site was slightly impacted.

☆ Plastics Export: How I Keep My Family, Baby Safe From Toxic Microplastics.
▼ + stars: | 2023-01-25 | by ( Adrienne Matei | ) www.businessinsider.com time to read: +12 min

Hardman does research on microplastics — tiny pieces of plastic debris that are broken down from larger plastic items. Microplastics are often too small to pick up or even notice, but they are everywhere: in the air, dust, and rain. Laura HardmanPlastic is a relatively new pollutant, so there's still a lot we don't know about it. In the lab, my team of researchers and I focus on the sources, effects, and fate of plastics in the ocean. The simple answer is we don't know what plastics might be doing to us, but I've started to get really concerned.

☆ Senior Australian official asks China to remove trade impediments
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Jan 20(Reuters) - Australia's Assistant Minister for Trade Tim Ayres called for the removal of China's "trade impediments" on Australian exports in a meeting with his Chinese counterpart on the sidelines of the World Economic Forum, his office said. China's Xinhua news agency earlier reported that Thursday's meeting between Australian and Chinese officials had agreed that trade ministers from the two nations will hold virtual discussions "in the near future." No date has been set for the video meeting between Chinese Commerce Minister Wang Wentao and his Australian counterpart, Don Farrell, it said. "Assistant Minister Ayres raised the importance of cooperation to deliver the outcomes of the World Trade Organization 12th Ministerial Conference, and the removal of current trade impediments affecting Australian exports to China in both countries' interests," a spokeswoman for Ayres said in a statement. Canberra has two complaints at the World Trade Organisation against China's tariffs on Australian wine and barley, and is watching to see if Beijing lifts unofficial trade blockages on other Australian exports.

☆ U.S. FDA, CDC see early signal of Pfizer bivalent COVID shot's link to stroke
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

Jan 13 (Reuters) - A safety monitoring system flagged that U.S. drugmaker Pfizer Inc (PFE.N) and German partner BioNTech's updated COVID-19 shot could be linked to a type of brain stroke in older adults, according to preliminary data analyzed by U.S. health authorities. An ischemic stroke, also known as brain ischemia, is caused by blockages in arteries that carry blood to the brain. "Although the totality of the data currently suggests that it is very unlikely that the signal in VSD (Vaccine Safety Datalink) represents a true clinical risk, we believe it is important to share this information with the public," the health authorities said. Pfizer and BioNTech said in a statement that they have been made aware of limited reports of ischemic strokes in people 65 and older following vaccination with their updated shot. This safety concern has not been identified with Moderna's (MRNA.O) bivalent shot and both the CDC and FDA continue to recommend that everyone aged 6 months and older stay up-to-date with their COVID-19 vaccination.

☆ VW Posts Lowest Sales in Over a Decade on Supply-Chain Issues
▼ + stars: | 2023-01-12 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Volkswagen AG reported its lowest sales in more than a decade, but said it was confident business would improve this year as supply-chain blockages ease and semiconductors become more easily available. VW, which also includes passenger-car brands Skoda and Seat, luxury-car maker Audi, and sports-car maker Porsche AG, said Thursday that global sales dropped 7% to 8.3 million vehicles, as supply-chain constraints shut down some factories in Europe in the wake of Russia’s invasion of Ukraine and Covid-19 measures in China.

☆ Brazil's Bolsonaro hospitalized in the U.S. with abdominal pain - report
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Jan 9 (Reuters) - Former Brazilian President Jair Bolsonaro was admitted to a hospital in Orlando, Florida, with "abdominal pain," newspaper O Globo reported on Monday, a day after some of his hardcore supporters stormed the capital city of Brasilia. Bolsonaro has been hospitalized multiple times in recent years with gut blockages after being stabbed while campaigning for the presidency in 2018. He traveled to the United States two days before Luiz Inacio Lula da Silva took the office of president. Reporting by Gabriel Araujo; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Goldman Sachs and Bank of America say copper could hit record highs in the coming year, as short-term supply tightness and long-term energy transition-related demand push the red metal north. Three-month copper futures on the London Metal Exchange were trading around $8,525 per metric ton on Friday in Europe. LME copper prices peaked at over $10,600/t in March this year, but two of Wall Street's biggest names see further price rises ahead. Both Goldman and Bank of America highlighted the energy transition as a key driver of copper markets looking ahead. While Bank of America's Michael Widmer said: "Copper is set to rally as usage in green technologies should offset cyclical demand weakness."

☆ Oil plunge, tech collapse and Fed cuts? Strategist shares possible 2023 market 'surprises'
▼ + stars: | 2022-12-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. After a tumultuous year for financial markets, Standard Chartered outlined a number of potential surprises for 2023 that it says are being "underpriced" by the market. Eric Robertson, the bank's head of research and chief strategist, said outsized market moves are likely to continue next year, even if risks decline and sentiment improves. He warned investors to prepare for "another year of shaken nerves and rattled brains." As such, he named eight potential market surprises that have a "non-zero probability" of occurring in 2023, which fall "materially outside of the market consensus" or the bank's own baseline views, but are "underpriced by the markets."

☆ Seeking compromise candidate, Lebanese politician Bassil leaves door ajar for presidency bid
▼ + stars: | 2022-11-17 | by ( John Irish | ) www.reuters.com time to read: +3 min

I did not do this to have the vacancy and a bad person to fill the void," he said. "I will not accept to have a bad president and in that case of course I would run." France has spearheaded international efforts to rescue Lebanon from its deepest crisis since the civil war, but to no avail. "That's why the country can't take this and live with it so we need to succeed in finding a solution." Reporting by John Irish in Paris Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Nov 15 (Reuters) - Australian Prime Minister Anthony Albanese said he discussed trade, consular and human rights issues in a meeting with Chinese President Xi Jinping at the G20 summit on Tuesday, the first meeting between leaders of the two countries since 2016. The meeting takes place as both countries work to improve relations overshadowed by disputes over trade, Taiwan, human rights and the origins of the COVID-19 coronavirus outbreak. "Australia seeks a stable relationship with China. Two Australian journalists, Cheng Lei and Yang Hengjun, are also in jail in China awaiting sentences after closed-door national security trials. Albanese said China acknowledged that Australia had raised the issue of the imprisoned journalists, but he gave no further details.

The meeting takes place as both countries work to improve relations overshadowed by disputes over trade, Taiwan, human rights and the origins of the COVID-19 pandemic. China is Australia’s biggest trading partner, accounting for up to a third of its roughly A$475 billion ($303 billion) of annual exports. Australia's relations with China began to sour in 2017 when Australia introduced laws to deal with what it said was Chinese interference in Australian politics. Two Australian journalists, Cheng Lei and Yang Hengjun, are in jail in China awaiting sentences after closed-door national security trials. Albanese said China acknowledged that Australia had raised the issue of the imprisoned journalists but he gave no further details.

[1/2] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. Defeated President Jair Bolsonaro had not made public remarks more than 17 hours after the race was called. Some of his key allies have recognized publicly that Lula had won the race, easing concerns of contested election results. "There will be no transition problem, even if Bolsonaro reacts badly, most of his allies have already recognized Lula's victory". Francisco Levy, chief strategist at Empiricus Investimentos, said a favorable international reaction to Lula may help markets on the short term.

His complete radio silence has raised concerns about the orderly handover of power, while also adding to doubts about how long the blockades could last. However, Normando Corral, president of farm group Famato, said the roadblocks in the top grains-growing state of Mato Grosso could disrupt agricultural shipments if they persist. One of the state's main exports this time of year is Brazil's winter corn crop, which is planted after soybeans are harvested. Evandro Lermen, a member of grain cooperative Coacen in the Brazilian 'soy capital' Sorriso, Mato Grosso, told Reuters corn shipments were not being disrupted by the protests. Rumo, a leading rail company that operates Latin America's biggest grain terminal in Rondonopolis, Mato Grosso, said none of its operations in Brazil had been affected so far.

☆ The US is spending billions to boost chip manufacturing. Will it be enough?
▼ + stars: | 2022-10-18 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +9 min

US-based fabs, or chip manufacturing plants, currently only account for 12% of the world’s modern semiconductor manufacturing capacity, according to data from the Semiconductor Industry Association trade group. Some 75% of the world’s modern chip manufacturing is now concentrated in East Asia – a majority of that in geopolitically-vulnerable Taiwan. Now, simply having the facilities already set up to produce or expand chip manufacturing gives Asia a big advantage. This is not yet the case in places like Arizona and Ohio, where plans to build massive chip manufacturing plants are already underway. If not, even the billions of dollars committed by the private and public sector may not be enough to reshore semiconductor manufacturing.

☆ Britons turn to electric blankets and candles as winter looms
▼ + stars: | 2022-10-11 | by ( Sarah Young | ) www.reuters.com time to read: +4 min

Market research released on Tuesday showed that grocery inflation hit another new record of 13.9% in September, deepening the cost-of-living crisis, while BRC-KPMG data showed people were investing in items to help them save cash. Nine out of 10 people surveyed by Barclaycard in Britain from Sept. 23-26 said they were concerned about household energy bills. Over half of those surveyed by Barclaycard said they were planning to cut down on discretionary spending so they can afford their energy bills this winter, with nights out most likely to be canned. Rival JD Wetherspoon's said last week that its sales had been boosted by young people drinking cocktails and spirits. Coffee and sandwich chain Pret A Manger said on Tuesday that it would raise staff pay for a second time this year.

☆ Australia seeks stable ties with 'great power' China, minister says
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Australian Foreign Minister Penny Wong speaks during a news conference on the sidelines of the 77th United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 20, 2022. REUTERS/Brendan McDermid/SYDNEY, Sept 23 (Reuters) - Australia is aiming for a stable relationship with China despite differences in particular on trade, Australia's foreign minister said, as she called on China to use its influence as a great power to help end the war in Ukraine. "China is a great power ... We encourage China as a P5 member with a special responsibility to uphold the U.N. charter to use its influence to end the war," she said. Wong said in her talks with Wang Yi she had raised the issue of Australian journalist Cheng Lei and blogger Yang Hengjun, who have been detained in China and face espionage charges. Thursday's meeting with Wang Yi, the second in three months, comes as the recently elected Labor government looks to rebuild ties after a sharp deterioration during the term of the previous conservative government.

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