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Cargo ship sinks off Greek island, 13 crew members missing
  + stars: | 2023-11-26 | by ( ) www.reuters.com   time to read: 1 min
ATHENS, Nov 26 (Reuters) - A cargo ship carrying salt sank off the Greek island of Lesbos on Sunday, with all but one of its 14-strong crew still missing, the Greek coast guard said. The Comoros-flagged ship "Raptor" had departed from El Dekheila port in Egypt and was sailing to Istanbul when it reported a mechanical failure and issued a distress call early on Sunday, the Greek coast guard said. Eight of the crew were Egyptians and the rest were Syrian and Indian nationals. The coast guard had rescued one person, who was airlifted by helicopter in gale force winds. Reporting by Lefteris Papadimas Writing by Renee Maltezou Editing by Jan Harvey and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Lefteris, Renee Maltezou, Jan Harvey, David Goodman Organizations: Thomson Locations: ATHENS, Lesbos, Comoros, El Dekheila, Egypt, Istanbul
FREETOWN, Nov 26 (Reuters) - Sierra Leone's civil aviation authority on Sunday urged airlines reschedule flights after a nationwide curfew imposed by the government in response to an attack on a military barracks by unidentified gunmen. The aviation authority said in a statement that passengers should be placed on the next available flights after the curfew is lifted. It added that the country's airspace remains open. Reporting by Umaru Fofana Writing by Bate Felix Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Umaru, Bate Felix, David Goodman Organizations: Sunday, Thomson Locations: FREETOWN, Sierra
Russia says it thwarted Ukrainian drone and missile attack
  + stars: | 2023-11-26 | by ( ) www.reuters.com   time to read: +1 min
Summary Russia says shoots down 24 Ukrainian dronesRussia says Ukraine fired missiles over Sea of AzovUkraine reported biggest Russian drone attack on KyivRussian controlled region says energy system struckMOSCOW, Nov 26 (Reuters) - Russia thwarted a Ukrainian attack on Russian regions involving at least 24 drones and two missiles, the Russian defence ministry said on Sunday. One person was injured in Tula when an intercepted drone hit an apartment building, the region's governor, Alexei Dyumin, said. "A mass drone attack was attempted overnight," said Moscow Mayor Sergei Sobyanin, adding that Ukrainian drones were shot down in several areas of the Moscow region. The Kommersant newspaper said that flights were delayed or cancelled at Moscow's main airports because of the drone attack. Ukraine said on Saturday that Kyiv had been hit by Russia's largest drone attack of the war.
Persons: Alexei Dyumin, Sergei Sobyanin, Guy Faulconbridge, William Mallard, Edmund Klamann, David Goodman Organizations: Moscow, Kommersant, Thomson Locations: Russia, Ukraine, Azov Ukraine, Russian, MOSCOW, Moscow, Tula, Kaluga, Smolensk, Bryansk, Azov, Donetsk
"We hoped and prayed today would come," Liz Hirsh Naftali and Noa Naftali, Edan's great aunt and cousin, said in a statement, thanking Biden and the Qatari government for their work in getting Abigail released. Her siblings were already there, Noa Naftali said, and the family can provide "the love and support that they need after losing their parents." According to Noa Naftali, Abigail had been held captive in Gaza with neighbors also taken from the Kfar Aza kibbutz, where the toddler, her parents and her siblings lived. Biden said he expects Hamas to release other U.S. hostages as well, and that he wants the pause in the fighting to be extended as long as prisoners are being released. "We will not stop working until every hostage is returned to their loved ones," Biden said.
Persons: Amir Cohen, Joe Biden, Abigail Edan, Abigail, Israel, Biden, Liz Hirsh Naftali, Noa Naftali, Edan's, Carmel Edan, he's, Aza, , Judith Tai Raanan, Natalie, Benjamin Netanyahu, Jeff Mason, Andy Sullivan, Moira Warburton, Jason Lange, Steve Gorman, David Goodman, Alexander Smith, Mark Porter, Josie Kao Organizations: Palestinian, Hamas, REUTERS, Rights, CBS, Qatari, Reuters, Sunday, Thomson Locations: Gaza, Ofakim, Israel, Rights NANTUCKET , Massachusetts, Israeli, Palestinian, United States, Nantucket, Washington, Buffalo , NY
[1/3] An employee views examples of the Parthenon sculptures, sometimes referred to in the UK as the Elgin Marbles, on display at the British Museum in London, Britain, January 25, 2023. Athens has long campaigned for the return of the Elgin Marbles, as they are often described. The 75 metres of Parthenon frieze, 15 metopes and 17 sculptures were removed by diplomat Lord Elgin in the early 19th century, when he was ambassador to the Ottoman Empire then ruling Greece. "We have not made as much progress as I would like in the negotiations," Mitsotakis told BBC television on Sunday. The Financial Times last week reported that Starmer would not block a "mutually acceptable" loan deal for the sculptures.
Persons: Toby Melville, Kyriakos Mitsotakis, Rishi Sunak, Lord Elgin, Mitsotakis, we've, George Osborne, Sunak, Keir Starmer, Starmer, William Schomberg, Lefteris Papadimas, David Goodman Organizations: Elgin, British Museum, REUTERS, British, BBC, Museum, Labour Party, Financial, Thomson Locations: London, Britain, Athens, Ottoman Empire, Greece, British
[1/7] A Palestinian checks the damage in a street in the aftermath of an Israeli raid in Jenin, in the Israeli-occupied West Bank, November 26, 2023. REUTERS/Raneen Sawafta Acquire Licensing RightsJENIN, West Bank, Nov 26 (Reuters) - Israeli forces killed seven Palestinians, including two minors and at least one gunman, in the occupied West Bank late on Saturday and early Sunday, medics and local sources said. A sixth Palestinian fatality was in Yatma, a village near Nablus city, and another was near a Jewish settlement outside the West Bank town of El Bireh, Palestinian officials said. The Israeli military said one of its aircraft had attacked a group of gunmen, wounding several of them. Four Israelis have been killed by Palestinians in the West Bank in the same period, the figures show.
Persons: Raneen, Ali Sawafta, Moaz Abd, Adam Makary, Hugh Lawson, Edmund Klamann, David Goodman Organizations: West Bank, REUTERS, The West Bank, Bank, Red Crescent Society, United Nations, Thomson Locations: Jenin, JENIN, West, Israel, Gaza, Yatma, Nablus, El Bireh
[1/2] An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Both contracts had their first weekly gain in five weeks as OPEC+ prepares for a meeting that will have output cuts high on the agenda after recent oil price declines on demand concerns and burgeoning supply, particularly from non-OPEC producers. OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels, three OPEC+ sources have told Reuters. "Fundamentals developments have been bearish with rising U.S. oil inventories," ANZ analysts said in a note. Analysts say oil demand growth could weaken to about 4% in the first half of 2024 as the property sector crunch weighs on diesel use.
Persons: John Kilduff, Tony Sycamore, Brent, Craig Erlam, Tina Teng, Paul Carsten, Natalie Grover, Colleen Howe, David Goodman, Louise Heavens, Marguerita Choy Organizations: REUTERS, U.S, Brent, West Texas, Organization of, Petroleum, Reuters, OANDA, ANZ, Petrobras, Thomson Locations: Zhoushan, Zhejiang province, China, Gaza, OPEC, Wednesday's, WTI, Israel, New York, Russia, U.S, London, Beijing
Jairo Lerma and several of his relatives placed a wooden cross in the dry grass along a Texas highway where his parents, on their way from Georgia to Mexico, died suddenly in a fiery crash with an oncoming car that was carrying migrants and fleeing a sheriff’s deputy. Shortly before the crash on Nov. 8, his mother, Isabel, had texted to say that she and her husband, José Carlos, a retired carpet factory worker from Dalton, Ga., would soon be at the border. Instead they died near a bend in the road some 60 miles short, along with five migrants and the 21-year-old driver of the other car. “I blame the sheriff’s department because they were chasing at a really high speed in a location that was really dangerous,” Mr. Lerma said. “This could have been avoided.”In recent years, police departments across the United States have been reassessing when and how to pursue fleeing suspects, adopting policies to curtail the number of dangerous high-speed chases.
Persons: Jairo Lerma, Isabel, José Carlos, Mr, Lerma Locations: Texas, Georgia, Mexico, Dalton , Ga, United States
Oil slips 1% on concerns over delayed OPEC+ meeting
  + stars: | 2023-11-23 | by ( Nia Williams | ) www.reuters.com   time to read: +2 min
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 75 cents, or 1%, to $76.35 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed a ministerial meeting at which they were expected to discuss oil output cuts to Nov. 30. OPEC+ members Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday. "However, it may be more difficult to bridge the gap with Angola, which has been a moodier member of the producer group since it joined in 2007."
Persons: Angus Mordant, Helima Croft, Phil Flynn, Nia Williams, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, Brent, . U.S . West Texas, U.S, Organization of, Petroleum, Producers, Reuters, Capital Markets, Price Futures Group, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Nigeria, Saudi Arabia, Chicago, British Columbia, London, Houston, Beijing
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid $1.37, also about 1.4%, to $75.73 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria are seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.
Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman, Alexandra Hudson Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Alexandra Hudson Our, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Saudi Arabia, London, Houston, Beijing
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. West Texas Intermediate crude slid 86 cents, also about 1.1%, to $76.24 after dropping as much as 5% in the previous session. In a surprise move on Wednesday, the Organization of the Petroleum Exporting Countries and allies including Russia delayed to Nov. 30 a ministerial meeting at which they were expected to discuss oil output cuts. Angola, Congo and Nigeria were seeking to raise their 2024 supply quotas above the provisional levels agreed at the June meeting of the OPEC+ producer group, analysts said. The questions over OPEC+ supply come as data showed that U.S. crude stocks jumped by 8.7 million barrels last week, much more than the 1.16 million build analysts had expected.
Persons: Angus Mordant, Helima Croft, Tamas Varga, Natalie Grover, Arathy, Andrew Hayley, Mark Potter, David Goodman Organizations: REUTERS, Brent, . U.S . West Texas, Organization of, Petroleum, Producers, Capital Markets, Thomson Locations: Loving County , Texas, U.S, ., Russia, OPEC, Angola, Congo, Nigeria, Niger, Saudi Arabia, London, Houston, Beijing
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsBRUSSELS, Nov 23 (Reuters) - Amazon (AMZN.O) is set to win unconditional EU antitrust approval for its $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O), three people familiar with the matter said on Thursday. The Commission, which is due to decide on the deal by Feb. 14, declined to comment. The deal announced in August would add iRobot's Roomba robot vacuum to U.S. online retail giant Amazon's portfolio of smart devices, includes the Alexa voice assistant, smart thermostats, security devices and wall-mounted smart displays. Reporting by Foo Yun Chee Editing by Mark Potter and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Pascal, Foo Yun, Mark Potter, David Goodman Organizations: REUTERS, Rights, Big Tech, European Commission, Amazon, Thomson Locations: Lauwin, France, Rights BRUSSELS
Injection pens and boxes of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, November 21, 2023. REUTERS/Victoria Klesty/Illustration Acquire Licensing RightsSummaryCompanies Novo racing to meet demand for obesity drugsObesity market to reach $100 billion by 2030-analystsNew investment in France will boost capacity for obesity, diabetes drugsPARIS/LONDON Nov 23 (Reuters) - Novo Nordisk (NOVOb.CO) on Thursday announced a $2.3 billion investment to boost production of its wildly popular weight-loss and diabetes drugs at a site in Chartres, France as it races to meet soaring demand. There is a growing crisis in Europe over supply of diabetes therapy Ozempic, which uses the same ingredient semaglutide as the hugely popular weight-loss drug Wegovy, which is not yet widely available in Europe. Thursday's announcement comes after Novo earlier this month announced a $6 billion investment in its native Denmark to boost production. Analysts have estimated the obesity drug market will be worth as much as $100 billion by 2030.
Persons: Victoria Klesty, Danish drugmaker, Emmanuel Macron, Lars Fruergaard Jorgensen, Eli Lilly, Novo, Anna Ringstrom, Ludwig Burger, Terje Solsvik, David Goodman, Emelia Organizations: REUTERS, Novo Nordisk, WIN, French, Thomson Locations: Oslo, Norway, Victoria, France, PARIS, Chartres, Danish, Europe, Union, Germany, Belgium, Denmark, U.S, Paris
CNN —Long-term use of ADHD medications can raise the risk of cardiovascular disease in both children and adults, according to a study published Wednesday in JAMA Psychiatry. The researchers found that people taking ADHD medications had a higher risk of hypertension and arterial disease, and the risk increased over time. Careful attention to the heart health of patients with ADHD is not new, experts say. “I don’t want to minimize this,” he said, highlighting the importance of screening for heart health in ADHD patients before starting treatment and checking in regularly. The risk for cardiovascular disease may be underestimated in the new study, the researchers wrote, as some heart disease that does not yet require medical care may not be diagnosed.
Persons: CNN —, Mitch Elkind, there’s, , , David Goodman, ” Goodman, , ” Elkind, Dr, Sanjay Gupta Organizations: CNN, Psychiatry, American Heart Association . Children, US Centers for Disease Control, Johns Hopkins School of Medicine, American Professional Society, CNN Health Locations: Sweden
[1/2] Executives of Norwegian company Adevinta celebrate the firm’s first day of trading at the Oslo stock exchange, Norway April 10, 2019. The consortium, which include funds General Atlantic and TCV, have offered to pay Adevinta shareholders 115 crowns per share. The deal for Adevinta comes at a difficult time for dealmaking in Europe. It is part of a trend of transactions where private equity firms have weighed buying back public companies they previously owned or still own stakes in. Shareholders can receive cash, or a mix of cash and new shares in the emerging private entity.
Persons: Nerijus, Adevinta, Stefan Dziarski, Dipan Patel, Permira, Shivani Tanna, David Goodman, Marguerita Choy Organizations: Adevinta, REUTERS, Permira, Blackstone, eBay, Adevinta ASA, Atlantic, dealmaking, Thomson Locations: Oslo, Norway, Europe, Adevinta, Bengaluru
Brent crude futures climb over 2% to gain $2
  + stars: | 2023-11-20 | by ( Erwin Seba | ) www.reuters.com   time to read: +3 min
Brent crude futures were up $2.00 to $82.61 a barrel by 9:39 a.m. CDT (1539 GMT). Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. "If additional cuts are agreed, a short-term price boost is expected, but its longer-term price impact seems dubious as enforcement and adherence will be the salient issue." Investors are also keeping an eye on Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India. The number of oil and gas rigs operated by U.S. companies rose last week, the first gain in three weeks, energy services business Baker Hughes said on Friday.
Persons: Leonhard Foeger, WTI, Tamas Varga, Sokol, Baker Hughes, Erwin Seba, Paul Carsten, Florence Tan, Emily Chow, David Goodman, Ed Osmond Organizations: REUTERS, Brent, . West Texas, Reuters, of, Petroleum, Moscow, IIR Energy, Thomson Locations: Vienna, Austria, HOUSTON, Russia, Brent, Washington, India, U.S, East, Gaza, Houston
Xiaomi Q3 net income jumps on cost savings, revenue rises
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +2 min
People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. The company's sales for the period totalled 70.9 billion yuan ($9.83 billion), beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG. Net income jumped by 183% from a year earlier to 6 billion yuan thanks to lower component costs and efficiencies across the business, compared to a consensus estimate of 4.6 billion yuan. Xiaomi, China's fifth-largest smartphone brand, shipped 9.1 million devices in China during the latest quarter, according to industry research firm Canalys. Though that was little changed from a year earlier, Xiaomi outperformed peers, with overall industry sales dropping 5% year on year, according to Canalys.
Persons: Nacho, Lu Weibing, Xiaomi, Xiaomi's Lu, Yelin, Brenda Goh, Jacqueline Wong, David Goodman, Jan Harvey Organizations: REUTERS, Rights, Xiaomi Corp, HK, LSEG, BAIC, Thomson Locations: Barcelona, Spain, Rights BEIJING, China, Beijing, Yelin Mo, Shanghai
Oil prices have dropped by almost 20% since late September while prompt inter-month spreads for Brent and WTI slipped into contango last week. "In light of last week's obliteration of oil bulls, some kind of response was forthcoming from the (OPEC) producer group," said Tamas Varga of oil broker PVM. Investors are also keeping an eye on Russian crude oil trade after Washington imposed sanctions on three ships that have sent Sokol crude to India. U.S. energy companies last week added oil and gas rigs for the first time in three weeks, energy services business Baker Hughes said on Friday. The oil and gas rig count serves as an early indicator of future output.
Persons: Leonhard Foeger, Brent, WTI, Tamas Varga, Sokol, Baker Hughes, Paul Carsten, Florence Tan, Emily Chow, David Goodman Organizations: REUTERS, . West Texas, Reuters, of, Petroleum, Moscow, IIR Energy, Thomson Locations: Vienna, Austria, Israel, Russia, Brent, Washington, India, U.S, East, Gaza, London
The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Nov 20 (Reuters) - Julius Baer (BAER.S) on Monday dampened profit expectations after it booked valuation adjustments of 82 million Swiss francs ($92.6 million). The Swiss bank said that of the 82 million francs in valuation adjustments, 70 million francs were booked against the group's credit portfolio after Oct. 31, 2023. Analysts at Zuercher Kantonalbank had expected 15 billion francs, with Baer having already reported inflows of 7 billion francs for the first half of 2023. Assets under management rose 3% to 435 billion francs during the period, driven mainly by inflows and the strength of the global equity market.
Persons: Julius Baer, Arnd, Baer, Rene Benko, Andreas Venditti, Zuercher Kantonalbank, Noele, Miranda Murray, Christopher Cushing, David Goodman Organizations: REUTERS, Rights, Signa, Reuters, Analysts, Thomson Locations: Zurich, Switzerland, Swiss, Zuercher
Signage is seen outside of a Nationwide Building Society in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - Nationwide Building Society (NBS.L) reported record benefits for its customers in the first half of its financial year, including a 344 million pound ($425.94 million) payout and 885 million pounds of incentives on products below market rates. The country's largest building society made 100 pound transfers into the current accounts of 3.4 million members in May, paying longstanding customers some of its profits from rising interest rates. The member-owned lender, which competes with Britain's big banks but does not have to prioritise shareholder returns, on Friday said profit for the six months to Sept. 30 rose to 989 million pounds from 969 million pounds a year earlier. ($1 = 0.8076 pounds)Reporting by Lawrence White Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Hannah McKay, Lawrence White, David Goodman Organizations: Building Society, REUTERS, Nationwide, Thomson Locations: London, Britain
A school district in the conservative town of Sherman, Texas, made national headlines last week when it put a stop to a high school production of the musical “Oklahoma!” after a transgender student was cast in a lead role. At one point, the theater teacher, who objected to the decision, was escorted out of the school by the principal. The set, a sturdy mock-up of a settler’s house that took students two months to build, was demolished. The school district reversed course. In a late-night vote on Monday, the school board voted unanimously to restore the original casting.
Persons: , Locations: Sherman , Texas, Oklahoma, Sherman, Dallas
The IEA joins the Organization of the Petroleum Exporting Countries in raising its oil demand growth forecast for 2023. Demand in 2023 has been supported by resilient U.S. deliveries and record September demand from China, the IEA said. SLOWDOWN IN VIEWFor 2024, the IEA raised its oil demand growth forecast to 930,000 bpd from 880,000 bpd. OPEC and the IEA have clashed in recent years over issues such as the long-term oil demand outlook and the need for investment in new supplies. The IEA said the 2024 demand slowdown will arise as "the last phase of the pandemic economic rebound dissipates and as advancing energy efficiency gains, expanding electric vehicle fleets and structural factors reassert themselves."
Persons: Pascal, Brent, Natalie Grover, Alex Lawler, David Goodman, Jason Neely, David Evans Organizations: IPC Petroleum France, REUTERS, International Energy Agency, OPEC, IEA, Organization of, Petroleum, Thomson Locations: Soudron, Reims, France, Paris, Saudi Arabia, Russia, China, Libya, OPEC, Saudi, London
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Dutch holding company Yandex NV's planned restructuring is aimed at recouping some shareholder funds with the sale of its main revenue-generating Russian businesses, such as its search and ride-hailing operations. 'CONTROL FOR LESS'Yandex NV may sell 100% of a holding company set up in Russia's Kaliningrad region, said one of the people. A third source said this scenario would see Yandex NV make a clean break with Russia. Yandex NV shareholders could easily have been left with nothing, said one of the sources.
Persons: Evgenia, Yandex, Yandex's, Arkady Volozh, Russia's, nationalising Yandex, Darya Korsunskaya, Alexander Marrow, David Goodman, Bernadette Baum Organizations: REUTERS, Kremlin, VK, Reuters, Carlsberg, Danone, Yandex, Thomson Locations: Moscow, Russia, Ukraine, Yandex, Dubai, Russia's Kaliningrad, nationalising
UK's Landsec expects rents to counter lower building valuations
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +1 min
Nov 14 (Reuters) - British commercial property company Land Securities Group (LAND.L) expects between low and mid single-digit percentage growth in annual London rental values despite continued pressure on building valuations. Valuations have been hit by high interest rates, hurting investment business within the sector and offsetting relatively better performance on the operational front. Landsec, which in May said it would invest more in prime retail space buoyed by a positive outlook for that portfolio, expects earnings per share for the full year to be broadly stable compared with last year's 50.1 pence. Central London accounts for about two thirds of Landsec's property portfolio. Its half-year pretax loss deepened by 0.5% to 193 million pounds ($237.3 million), hurt by declining property valuations.
Persons: Mark Allan, Aby Jose Koilparambil, Rashmi Aich, David Goodman Organizations: Land Securities Group, FTSE, Thomson Locations: London, Central London, Mayfield, Manchester, Bengaluru
Goldman Sachs forecasts higher returns on commodities
  + stars: | 2023-11-13 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 13 (Reuters) - Goldman Sachs expects increased returns on commodities over the next 12 months, buoyed by higher spot prices amid easing monetary policy and recession fears while the asset class also strengthens on hedging against geopolitical supply risks. The bank has forecast returns of 21% on commodities over a 12-month horizon on the oil-heavy S&P GSCI Commodity Index, led by returns of about 31% from energy and 17.8% from industrial metals. Commodity returns will also be bolstered by OPEC-driven declines in oil inventories and demand for so-called green metals, primarily from China, Goldman said. In metals, Goldman forecast a sharp tightening in copper and aluminium stocks into the middle of the decade, driving up prices from the second half of 2024.
Persons: Dado Ruvic, Goldman Sachs, Goldman, Brent, Harshit Verma, David Goodman Organizations: REUTERS, U.S . Federal Reserve, European Central Bank, OPEC, Energy, Thomson Locations: China, Bengaluru
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