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☆ Venice kept dry as dam system wards off exceptional high tide
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

[1/4] A view of St. Mark's Square during exceptional high tide as the flood barriers known as Mose are raised, in Venice, Italy, November 22, 2022. REUTERS/Manuel SilvestriVENICE, Italy, Nov 22 (Reuters) - A dam system built to protect Venice and its famous Piazza San Marco from flooding withstood the challenge of an exceptionally high tide on Tuesday as heavy rains swept across Italy. However, the Mose, a system of 78 flood gates rising from the Venetian lagoon floor, was activated in advance overnight, shielding the city from the high waters seen at sea. "If the Mose barriers had not been there, Venice would have been catastrophically under water," Italy's Transport Minister Matteo Salvini said. High tides are expected to last well into Wednesday and Thursday, with a tide of up to 140 cm forecast for both days.

☆ Air defences activated in Crimea, two drones shot down - Russian-installed official
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 22 (Reuters) - Russian air defences were activated on Tuesday in the city of Sevastopol in Crimea, which Russia annexed from Ukraine in 2014, and two drones were shot down, the regional governor said in a statement, urging people to keep calm. Sevastopol is the headquarters of Russia's Black Sea fleet. "Our air defence forces are working right now," the Russian-installed governor, Mikhail Razvozhaev, said on social media. "There is an attack by drones. According to preliminary information, two UAVs (unmanned aerial vehicles) have already been shot down.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic led to park closures and visitor restrictions. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. Disney did not respond to a request for comment on Trian and Trian did not respond to a request for comment. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

☆ New desalination plant points towards Morocco's drought response
▼ + stars: | 2022-11-21 | by ( Ahmed Eljechtimi | ) www.reuters.com time to read: +5 min

[1/6] A view shows a desalination plant in south of Agadir, Morocco, in this handout picture obtained by Reuters on November 21, 2022. IRRIGATIONSome of the worst effects of Morocco's drought have been felt in Agadir, an Atlantic coast city of 1 million people, several hours' drive south of Casablanca. The most important one -- to supply Morocco's biggest city Casablanca -- is due to start construction next year and come on stream in 2026. All the new desalination plants, including Agadir, were meant to be powered by renewable energy. But, the Agadir plant is so far being powered directly from the national grid.

SHARM EL-SHEIKH, Nov 21 (Reuters) - Beyond the headlines from the annual U.N. climate conference, progress in advancing the global climate agenda relies on the behind-the-scenes efforts of technocrats over years. Offsets allow countries or companies to pay others to cut greenhouse gas emissions to make up for their own. But discussions on how to curb those emissions are relatively new within U.N. climate negotiations. The work also deals with food security and the economic impacts of global warming. As the initial mandate expired, countries at COP27 authorised the KJWA work to continue for another four years.

☆ India's Essar Group is debt-free after repaying $25 bln
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Nov 21 (Reuters) - India's Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said on Monday. Essar, built by brothers Shashi and Ravi Ruia, has sold some of its assets in sectors such as telecom, oil refining and steel over the years to settle its $25 billion debt. "Essar has concluded its asset monetisation programme and completed the debt repayment of $25 billion effectively making the group debt-free from Indian banks and financial institutions," Prashant Ruia, director, Essar Capital, said in a statement. AM/NS, which agreed to buy some infrastructure assets from Essar group for $2.4 billion, in a statement said that the ports and the power plant are captive to its India's operations and are expected to generate operation synergies for the company. Acquisition of these assets will help move raw materials and finished goods between the company's manufacturing facilities in western, eastern and southern India.

☆ Macron hosts European CEOs to counter US move temptation
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden's administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. Macron, who has called on the European Union to launch its own 'European Buy Act' to subsidise European production, has encountered resistance from the more anti-protectionist members of the bloc. It was unclear what Macron would tell the executives to convince them not to move to the U.S. But France has unveiled a number of measures over the weekend to cushion the impact of high energy bills for French companies. Reporting by Michel Rose Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, Nov 21 (Reuters) - Washington's envoy for war crimes said on Monday the United States was monitoring allegations of Ukrainian forces summarily executing Russian troops, and said all parties should face consequences if they commit abuses in the conflict. Russia's defense ministry on Friday cited videos circulating on social media that allegedly showed Ukrainian soldiers executing Russian prisoners of war. The country's commissioner for human rights, Dmytro Lubinets, said the videos appeared to show "a staged capture" where Russian forces were not truly surrendering. Russia has denied the allegations and accused Ukraine and its backers in the West of fabricating the claims. Van Schaack said the scale of criminality exhibited by Russian forces was "enormous" compared to the allegations against Ukrainian troops, and noted that the two sides responded differently when allegations of atrocities surface.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic hit, leading to park closures and restrictions on visitors globally. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. IGER'S RETURNSIger exited Disney on a high note as the company led the battle against Netflix in the streaming wars. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

WASHINGTON, Nov 21 (Reuters) - Two Estonian citizens were arrested in Tallinn, Estonia, on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy, the U.S. Justice Department said on Monday. They also made victims invest in a virtual currency bank called Polybius Bank, which in reality was not a bank and never paid out the promised dividends, the Justice Department said. "The size and scope of the alleged scheme is truly astounding," said Assistant Attorney General Kenneth Polite Jr of the Justice Department's criminal division. "U.S. and Estonian authorities are working to seize and restrain these assets and take the profit out of these crimes." The money laundering conspiracy allegedly involved at least 75 real properties, six luxury vehicles, cryptocurrency wallets, and thousands of cryptocurrency mining machines, according to the department, which said the case was probed by the FBI.

LONDON, Nov 21 (Reuters) - Oil prices were hit by an abrupt reversal of sentiment last week, with investors selling at the fastest rate for four months, as the economic outlook worsened and fears eased that the G7 price cap on Russian crude would disrupt its exports. The most recent week saw sales concentrated in Brent (-30 million barrels) and NYMEX and ICE WTI (-19 million) with lighter sales in European gas oil (-5 million), U.S. gasoline (-4 million) and U.S. diesel (-4 million). As a result, Brent futures prices and calendar spreads retreated as traders prepared for a relatively hard landing for the global economy which will likely cut oil consumption absolutely or at least relative to the previous trend. Related columns:- Oil investors set for supply fall to offset weak economy (Reuters, Nov. 15)- Hedge funds tempted back into crude oil market by limited supply (Reuters, Nov. 7)- Oil funds trapped between low inventories and slowing economy (Reuters, Oct. 31)- Oil investors on defensive as recession forces intensify(Reuters, Oct. 24)John Kemp is a Reuters market analyst. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ They were diagnosed with uterine cancer and tumors. Now they're suing the makers of chemical hair straighteners.
▼ + stars: | 2022-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Janelle Griffith | ) www.nbcnews.com time to read: +4 min

Three years ago, Rhonda Terrell was diagnosed with an aggressive form of uterine cancer that has since spread to her abdomen and liver. “And I want to hold them accountable because I have granddaughters.”Bernadette Gordon, who used chemical relaxers from around 1983 to 2015, believes they caused her to develop breast and uterine cancer. In 2021, she was diagnosed with uterine cancer and underwent a hysterectomy, followed by six months of chemotherapy and radiation. There was never anything on the products' packaging, they said and their lawsuits allege, indicating that normal use of the products could cause them to develop uterine fibroids or breast or uterine cancer. “This study is the first to show a possible link between frequent use of hair straightening products and uterine cancer,” she said.

☆ Indonesia's GoTo to cut 1,300 jobs to step up cost cutting
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

GoTo said it has achieved around 800 billion rupiah ($51 million) in cost savings in the first half of this year through efficiency measures in technology, marketing and outsourcing. GoTo, which offers ride-hailing and financial services, went public in April with a $1.1 billion stock sale. Its shares are trading 44% below its initial public offering price, as investor sentiment on the tech sector sours amid soaring inflation and interest rates. Shares in GoTo rose 2.8% on Friday after announcing the job cuts. In recent months, Southeast Asia's largest-ecommerce firm Shopee cut jobs in various countries and shut some overseas operations as parent Sea (SE.N) struggle with losses.

The greenback has been falling in recent weeks as inflation data and Federal Reserve commentary implied that it could soon slow the pace of its interest rate hikes. "We had a short covering euro rally and dollar sell off that's probably run its course now. The euro was last down 0.56% against the dollar at $1.0337 after falling as much as 0.86% earlier in the session. It was last down 0.95% at $1.18 after earlier falling as much as 1.25% in a move that one analyst said was largely driven by sentiment about the dollar. The greenback was last up 0.68% against the Japanese yen on Thursday to 140.4950 after falling earlier in the day.

[1/2] Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/IllustrationLONDON, Nov 17 (Reuters) - The dollar rose on Thursday as investors digested mixed U.S. economic data, while the British pound fell as the UK government unveiled its latest budget update. Yet the dollar climbed on Thursday after U.S. retail sales data for October, released on Wednesday, came in stronger than expected. Traders will also scrutinise speeches from numerous Fed officials on Thursday for hints about rate hikes. It plunged 3.7% on Thursday last week when U.S. consumer inflation data for October came in lower than expected.

☆ Shares and pound splutter as UK dishes out budget gruel
▼ + stars: | 2022-11-17 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

[1/3] Pound and Dollar banknotes are seen in this picture illustration taken June 13, 2017. Pound and UK Gilt recover from 'mini budget' turmoilOvernight in Asia, grim signals from Micron Technology about excess inventories and sluggish demand sent chipmaker stocks sprawling. Mainland Chinese shares also wobbled, with blue chips there (.CSI300) falling 0.5% having ripped 10% higher this month. Traders will also scrutinise speeches from Fed officials on Thursday for hints about rate hikes. Crude oil steadied in Europe after settling more than a dollar lower overnight, following the resumption of Russian oil shipments via the Druzhba pipeline to Hungary and as rising COVID-19 cases in China weighed on sentiment.

Companies Twitter Inc FollowNov 17 (Reuters) - Twitter Inc (TWTR.MX) owner Elon Musk's mandate that employees stop working remotely and put in "long hours at high intensity" discriminates against workers with disabilities, a new lawsuit claims. Borodaenko said Musk's recent call for Twitter employees to return to the office or quit violates the federal Americans with Disabilities Act (ADA), which requires employers to offer reasonable accommodations to workers with disabilities. The lawsuit said many Twitter employees with disabilities have been forced to resign because they could not meet Musk's demanding performance and productivity standards. Under federal law, employers can provide workers with 60 days of severance pay in lieu of giving notice. Reporting by Daniel Wiessner in Albany, New York; Editing by Alexia Garamfalvi and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

BUFFALO, N.Y., Nov 17 (Reuters) - Up to 4 feet (1.2 meters) of lake-effect snow could bury parts of Western New York and other states by the end of the weekend, forecasters said on Thursday, paralyzing the city of Buffalo and other areas downwind of Lake Erie and Lake Ontario. The heaviest totals are likely in Buffalo, the weather service said on its website, stressing it was difficult to predict exactly where the snow bands would develop. "What we are talking about is a major, major storm," New York Governor Kathy Hochul, said on Thursday, a day after she declared a state of emergency in the Buffalo area. By Thursday morning, snow squalls already carpeted parts of New York southeast of Lake Erie with 10 inches of snow. In November 2014, an epic barrage of lake-effect snow deposited more than 5 feet of powder east of Buffalo but dropped just a few inches of snow a few miles to the north, according to the NWS, illustrating the highly localized nature of the phenomenon.

ID.me responded that calling its fraud estimate baseless or too high was premature because government auditing was ongoing. Congress began investigating ID.me after former ID.me employees, government watchdog groups and lawmakers complained the company had been unprepared to handle an onslaught of unemployment insurance applications early in the pandemic. While Reuters and other media last year reported on the waits, investigators said their analysis definitively showed that issues had been widespread. ID.me said it regretted the long waits but described them as "short-lived and temporary and caused by historic fraud." The Democrat-led committees are continuing to investigate other concerns about ID.me, including the accuracy of its facial recognition system and the adequacy of its support for non-English speakers.

Nov 16 (Reuters) - Tencent Music Entertainment Corp beat analyst estimates for third-quarter revenue and profit, boosted by a recovery in advertising sales and an increase in the number of paying users on the Chinese music streaming company's platform. Tencent has been ramping up its original content slate to help put more users behind a paywall. Paying users at its online music streaming service rose to 85.3 million in the quarter from 82.7 million in the second quarter, the earnings statement showed. Net profit attributable to equity holders was 1.06 billion yuan, up from 740 million yuan in the same period last year. Yip said Tencent Music expects its long-form audio content to break even on a gross margin basis by the end of next year.

☆ UK banks say consumer safeguard could backfire in cost of living crisis
▼ + stars: | 2022-11-16 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Maja SmiejkowskaLONDON, Nov 16 (Reuters) - Britain's banks are proactively helping customers hit by the cost of living crisis, but implementing a new "consumer duty" on time could exclude vulnerable consumers from help, banking industry body UK Finance said on Wednesday. UK Finance chief executive David Postings said portfolios of lenders have so far stood up to current economic stresses. It is more critical than ever that borrowers and savers are offered fair and competitive rates, Rathi added. UK Finance chair Bob Wigley said he anticipated that finance minister Jeremy Hunt's fiscal statement on Thursday would help restore Britain's "traditional reputation for sound management of public finances" after turmoil in UK bond markets in September. Banks hope Hunt will announce a cut in the tax surcharge on their profits.

☆ IMF's Georgieva says Biden-Xi meeting 'constructive' signal for trade
▼ + stars: | 2022-11-16 | by ( David Lawder | ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, Nov 16 (Reuters) - President Joe Biden's meeting with Chinese President Xi Jinping was a "very constructive" signal that may ease trade tensions between the world's two largest economies, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday. But the Biden-Xi meeting sent "a very significant message to the world that international cooperation is important for all of us," Georgieva said. This would reduce global GDP output by $1.4 trillion to $3.5 trillion, the Fund estimates. "Also, China recognizes that there has to be a reliance on mutual cooperation because we see the Chinese economy being in a very tough spot." Indicators are showing a "gloomier" path for the world economy, "meaning it is slowing down and at that point, the Fed can reassess" as demand cools, she said.

☆ Mexico to urge U.S., Canada firms to participate in lithium market
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 15 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Tuesday his administration will issue a call for U.S. and Canadian companies to participate in the country's incipient lithium market. Mexico does not yet have commercial lithium production, though close to a dozen foreign companies hold contracts to explore potential deposits. The role of foreign companies will be centered in building infrastructure and state entities will hold the majority stakes in the projects, he added. Lopez Obrador nationalized Mexico's lithium deposits in April, hoping to cash in on surging demand for the metal. Though Mexico does not currently produce lithium, the finance ministry estimated the value of Sonora lithium reserves at $600 billion.

☆ Soccer FIFA boss Infantino urges World Cup ceasefire in Ukraine
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Speaking during a lunch with leaders of the Group of 20 (G20) major economies on the Indonesian island of Bali, FIFA President Gianni Infantino said the month-long World Cup, which starts in Qatar on Sunday, offered a unique platform for peace. Football and the World Cup are offering you and the world a unique platform of unity and peace all over the world." The World Cup takes place from Nov 20 to Dec. 18 in Qatar, which is the first Middle East country to host soccer's showpiece event. Russia reached the quarter-finals of the last World Cup in 2018 but has been barred from this tournament over its invasion of Ukraine. "Maybe the current World Cup, starting in five days can be that positive trigger," he added.

Reuters reported in August that Luiz Inacio Lula da Silva, elected as Brazil's president at the end of October, would seek a partnership with the two other leading rainforest nations to pressure the rich world to finance forest conservation. The rapid destruction of rainforests, which through their dense vegetation serve as carbon sinks, releases planet-warming carbon dioxide, imperiling global climate targets. "South-to-south cooperation - Brazil, Indonesia, DRC - is very natural," the Democratic Republic of Congo's Environment Minister Eve Bazaiba said prior to the signing. In the agreement, the alliance said that countries should be paid for reducing deforestation and maintaining forests as carbon sinks. Talks on the alliance to protect rainforest until now had foundered due to "institutional difficulties," Teixeira said.

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