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☆ Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Under the restructuring, Kanghui will effectively become a separately listed company via transactions involving power and heating firm Dalian Thermal Power (600719.SS), which will buy 100% of Kanghui for 10.15 billion yuan ($1.39 billion) in shares. This will optimize Kanghui's structure and expand its funding channels, Hengli said in a filing to the Shanghai stock exchange. Hengli also said it will become indirect controlling shareholder of Kanghui after the transaction, retaining its control over the firm. Dalian Thermal will issue 2.3 billion shares to Hengli and a unit of the company which makes chemical fibre, said the filing. The transactions will change Dalian Thermal's controlling shareholder from a firm backed by the state asset regulating authority in the city of Dalian to Hengli Petrochemical, Dalian Thermal said.

Persons: Kanghui, Hengli, Roxanne Liu, Ella Cao, Kane Wu, David Holmes Organizations: Hengli Petrochemical, Technology, Dalian Thermal Power, Dalian Thermal's, Dalian, Thomson Locations: Dalian, Kanghui, Shanghai

☆ Hedge funds drop short trades on U.S. regional banks - Goldman
▼ + stars: | 2023-09-04 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The ratio of long trades compared with short positions on U.S. regional banks has risen by 26% since a year low in mid-July 2023, when traders were mostly short the sector, the bank said. An index of U.S. regional bank stocks (.SPLRCBNKS) has recovered roughly 20% of its value from a two-year low hit in May following the failure of Silicon Valley Bank (SIVBV.UL), Signature Bank (SBNY.PK) and First Republic (FRCB.PK). Reuters GraphicsShort positions on larger U.S. banks have also declined since mid-July, with hedge fund long positions rising about 14% against short bets, the Goldman note showed. Most of the stock buying on U.S. regional banks comprised of hedge funds buying back stock that was borrowed for the purpose of short bets, or so-called short covering, Goldman said. Across broader U.S. financial services, hedge funds finished August with net long positions, the note said.

Persons: Lee Jae, Goldman Sachs, Janet Yellen, Goldman, Nell Mackenzie, Dhara Ranasinghe, David Holmes Organizations: REUTERS, U.S, Silicon Valley Bank, Signature Bank, Reuters, Thomson Locations: Seoul, . U.S, Silicon

☆ BMW expects higher China sales in 2023, finance chief says
▼ + stars: | 2023-09-02 | by ( Christina Amann | ) www.reuters.com time to read: +2 min

BMW's concept model i Vision Dee is unveiled during an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. China's passenger vehicle sales fell for a second month in July, as discounts and government support measures failed to lure consumers wary of buying cars amid a sputtering economy and a prolonged slump in the housing market. BMW recently raised its 2023 outlook for group vehicle sales and said it expects solid growth, which is defined as anywhere between 5% and 9.9%. In 2022, vehicles sales had declined by 4.8% to around 2.4 million; in China, they were down 6.4% to 791,985. Mertl said that the phase-out of grants to boost electric vehicles in Germany would cause a temporary drop in demand.

Persons: Dee, Aly, Walter Mertl, Mertl, Price, Christina Amann, Christoph Steitz, David Holmes Organizations: Auto, REUTERS, Rights, BMW, IAA, Reuters, Tesla, General Motors, Volkswagen, Thomson Locations: Auto Shanghai, Shanghai, China, Munich, Germany

☆ BMW's 'Neue Klasse' at least as profitable as current EVs - CEO Zipse
▼ + stars: | 2023-09-02 | by ( Christina Amann | ) www.reuters.com time to read: +2 min

Chairman of the Board of Management of BMW AG Oliver Zipse attends an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. The Neue Klasse, to be launched in 2025, is at the heart of the carmaker's efforts to replicate past successes and catch up with EV pioneer Tesla (TSLA.O), which is also staging a return to the IAA this year. "We are very profitable with electric cars ... already today," Zipse told reporters, adding that the Neue Klasse - or New Class - would be "very profitable. Production of the new platform will start at the group's factory in Debrecen, Hungary, where BMW is investing 2 billion euros ($2.2 billion) in new battery-making and assembly operations for the Neue Klasse. Development of the Neue Klasse is targeting to reduce battery pack costs by half and achieve 25% more range per kilowatt-hour, a key measure of efficiency, executives have said.

Persons: BMW AG Oliver Zipse, Aly, Oliver Zipse, Zipse, Christina Amann, Christoph Steitz, Helen Popper, David Holmes Organizations: Management, BMW AG, Auto, REUTERS, BMW, IAA, Neue, Tesla, Thomson Locations: Auto Shanghai, Shanghai, China, MUNICH, Munich, Debrecen, Hungary, Mexico

☆ Country Garden: How bad are Chinese property developer's debt problems?
▼ + stars: | 2023-09-02 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? How bad is Country Garden's financial situation? It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes, Gerry Doyle Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ Gunmen kill seven worshippers in Nigeria's northern Kaduna state
▼ + stars: | 2023-09-02 | by ( Ahmed Kingimi | ) www.reuters.com time to read: +1 min

MAIDUGURI, Nigeria, Sept 2 (Reuters) - At least seven worshippers were killed in an attack on a mosque by a gang of armed men in Nigeria's northwest Kaduna state, police said on Saturday. The attack, in the remote Saya village of the Ikara local government area of the state, occurred late on Friday as worshippers gathered for prayer, Kaduna police spokesman Mansur Haruna said by phone. A resident of the village, Haruna Ismail, told Reuters by phone: "Five people were shot inside the mosque while praying and the other two were shot within the village community." Gangs of heavily armed men have wreaked havoc across Nigeria's northwest in the past three years, kidnapping thousands, killing hundreds and making it unsafe in some areas to travel by road or to farm. Reporting by Ahmed Kingimi; Writing by Elisha Bala-Gbogbo; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Mansur Haruna, Haruna, Haruna Ismail, Ahmed Kingimi, Elisha Bala, David Holmes Organizations: Reuters, Thomson Locations: MAIDUGURI, Nigeria, Nigeria's, Kaduna

☆ Huge protests in Niger call for French forces to leave after coup
▼ + stars: | 2023-09-02 | by ( Boureima Balima | ) www.reuters.com time to read: +3 min

Anti-French sentiment has risen in Niger since the coup but soured further last week when France ignored the junta's order for its ambassador, Sylvain Itte, to leave. Reuters reporters said it was the biggest gathering yet since the coup, suggesting that support for the junta - and derision of France - was not waning. France had cordial relations with ousted President Mohamed Bazoum and has about 1,500 troops stationed in Niger. On Friday, French President Emmanuel Macron said he spoke to Bazoum every day and that "the decisions we will take, whatever they may be, will be based upon exchanges with Bazoum." West Africa's regional bloc ECOWAS has slapped sanctions on Niger and threatened military action as a last resort.

Persons: Mahamadou, Paris, Sylvain Itte, Yacouba, Mohamed Bazoum, Emmanuel Macron, Niger's, Bola Tinubu, Edward McAllister, David Holmes Organizations: REUTERS, Police, France, ECOWAS, Thomson Locations: Niamey, Niger, NIAMEY, Niger's, West, Central Africa, France, West Africa, Mali, Burkina Faso, Africa's, United States

☆ Sabalenka flattens France's Burel to reach U.S. Open fourth round
▼ + stars: | 2023-09-02 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

[1/2] Aug 31, 2023; Flushing, NY, USA; Aryna Sabalenka hits to Jodie Burrage of Great Britain on day four of the 2023 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center. I think I played really great tennis today," she told reporters. Burel showed some signs of life when she fended off a pair of break points in the opening game of the second set but Sabalenka quickly retook control. Sabalenka said mental toughness was the key to surviving the two-week grind at the U.S. Open. She's playing great tennis.

Persons: Jodie Burrage, USTA Billie Jean King, Danielle Parhizkaran, Clara Burel, player's, Sabalenka, Louis Armstrong, Daria Kasatkina, Minnen, Burel, Kasatkina, She's, Amy Tennery, David Holmes Organizations: USTA Billie, USTA Billie Jean King National Tennis Center, U.S, player's New, Louis, Belgian, U.S ., Thomson Locations: Flushing , NY, USA, Great Britain, player's New York, New York

Hozon's IPO plan comes after it announced a 7 billion yuan pre-IPO fundraising late on Tuesday in a social media statement. More banks could be added to the syndicate working on the IPO as the deal progresses, they said. Local Hong Kong media reported earlier this week Hozon could raise up to $1 billion in a local listing. Hozon is building its first overseas plant in Thailand and aims to start production there in January 2024. Reporting by Kane Wu in Hong Kong and Scott Murdoch in Sydney; Additional reporting Zhang Yan; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Morgan Stanley, CICC, Kane Wu, Scott Murdoch, Zhang Yan, David Holmes Organizations: Hozon, Beijing International Automotive, Auto, REUTERS, Rights, Zhejiang, New Energy Automobile Co, HONG, Hozon Auto, China International Capital Corporation, Hong, Hong Kong Stock Exchange, Thomson Locations: Auto China, Beijing, China, HONG KONG, SYDNEY, Hong Kong, Indonesia, Thailand, Myanmar, Nepal, Sydney

☆ Italy's bad loan proposal risks damaging crucial market, senior banker says
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 1 (Reuters) - A law proposed by the Italian prime minister's party to help those in arrears risks damaging the country's non-performing loan (NPL) market, which played a crucial role in helping banks offload sour debt, a senior banker active in the sector said on Friday. It aims to give borrowers the right to repay the original loan at a price equivalent to the ratio between the loan's gross nominal value and the average portfolio price, plus a 20% premium. Bossi said the measure could prompt foreign operators active in the sector to shift their focus from the Italian market. "This would be a damage for banks because it would reduce demand for their soured debt", the banker said. "We should keep in mind that Italian banks are now sound because the NPLs market helped the system offload some 350 billion euros of debts which went soured", he added.

Persons: Meloni's, Giovanni Bossi, Bossi, Elvira Pollina, David Holmes Organizations: Cherry Bank, Reuters, European Central Bank, Thomson Locations: Italy

☆ India captain Rohit plays down hype around Pakistan blockbuster
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

COLOMBO, Sept 1 (Reuters) - India captain Rohit Sharma played down hype around Saturday's Asia Cup blockbuster against Pakistan, saying their focus is on using the tournament to fine-tune their preparations for the home World Cup later this year. For us, we don't want to look into all those things," the opener deadpanned in the pre-match press conference on Friday. "What is going to help us is - keep doing the right things on the pitch and make the right decisions that take us forward as a team." The six-team tournament assumes more importance for India as they chase their first global title in more than a decade at the home World Cup in October-November. "When we finish the tournament, hopefully we can achieve that and go into the next one and half months of the World Cup."

Persons: Rohit Sharma, Rohit, Shaheen Afridi, Amlan Chakraborty, David Holmes Organizations: Asia, Pakistan, India, Thomson Locations: COLOMBO, India, Pallekele, Pakistan, New Delhi

☆ Liverpool's Konate, Thiago out for Villa match - Klopp
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

Sept 1 (Reuters) - Liverpool's Ibrahima Konate and Thiago will miss this weekend's Premier League game at home to Aston Villa due to injuries, manager Juergen Klopp said, while giving little away on the club's possible transfer activity on Friday's deadline day. France centre back Konate is battling a muscle issue and missed last weekend's comeback win over Newcastle United, while Brazil midfielder Thiago underwent hip surgery before the start of the season and has suffered a setback in his recovery. "Ibou (Konate) will not be ready for the game," Klopp said. Thiago started training with the team and then had a little setback, so we have to slow down there a little bit. Liverpool are third in the league with seven points from three games, one point above Villa in seventh place.

Persons: Konate, Thiago, Juergen Klopp, Virgil Van Dijk, Newcastle's Alexander Isak, Klopp, Curtis, Jones, Mohamed Salah, Bayern Munich's Ryan Gravenberch, Hritika Sharma, David Holmes Organizations: Premier League, Aston Villa, Newcastle United, Anfield, Liverpool, Bayern, Villa, Thomson Locations: France, Brazil, Liverpool, Saudi Arabian, Al, Ittihad, Hyderabad

☆ Explainer: Country Garden: How bad are the Chinese property developer's debt problems?
▼ + stars: | 2023-09-01 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? Until this year Country Garden was the largest Chinese developer by sales. It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ McLaren Applied's Lavoie buys bankrupt Dutch e-bike maker VanMoof
▼ + stars: | 2023-08-31 | by ( Nick Carey Tosterling | Nick Carey | ) www.reuters.com time to read: +3 min

The logo of e-bike maker VanMoof is seen on a bicycle in Amsterdam, Netherlands August 17, 2023. REUTERS/Piroschka van de Wouw Acquire Licensing RightsLONDON/AMSTERDAM, Aug 31 (Reuters) - Lavoie, the electric scooter unit of Formula One engineering and technology firm McLaren Applied, said on Thursday it has agreed to buy bankrupt premium Dutch e-bike maker VanMoof and will invest to stabilize and expand its business. Fry said McLaren Applied - bought from McLaren Group by private equity firm Greybull Capital in 2021 - would retain VanMoof's departmental managers and would "engage and retain or rehire some of the great people" the Dutch e-bike maker employed. VanMoof had also struggled with quality problems, which McLaren Applied's Fry said had hurt sales. McLaren Applied recently launched the premium Lavoie e-scooter brand.

Persons: de Wouw, Lavoie, Nick Fry, Fry, Jan Padberg, Robin de Wit, McLaren, VanMoof, McLaren Applied's Fry, Nick Carey, David Holmes Organizations: REUTERS, Formula, McLaren, Reuters, VanMoof, McLaren Group, Capital, Norwest Venture Partners, Nasdaq, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, Silicon

French Economy and Finance Minister Bruno Le Maire attends the China-France Economic and Financial Dialogue at the Diaoyutai State Guesthouse in Beijing, China, July 29, 2023. He said they had also agreed to bring forward annual price negotiations - initially planned for next year - to September. Le Maire went a step further on Thursday, naming Unilever, Nestle and Pepsi Co as being among the companies which he said were refusing to toe the line on prices. "The large multinationals could do much more," Le Maire said. "No one is willing to say 'I am going to reduce my prices' because the government is saying so," he said.

Persons: Bruno Le Maire, Thomas Peter, Le Maire, Le, Sybille De La, Silvia Aloisi, David Holmes, Frances Kerry Organizations: Finance, France Economic, REUTERS, Rights, Unilever, Nestle, PepsiCo, Federation du Commerce, Pepsi Co, Thomson Locations: China, France, Diaoyutai, Beijing, Paris

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The change in CFO will not likely impact Winters' departure timing greatly, Britzman said, with the StanChart CEO more focused on hitting the lender's key performance goals. De Giorgi previously held senior roles at Bank of America Merrill Lynch, including head of global investment banking. Before then, he worked in equity capital markets and financial institutions at Goldman Sachs (GS.N), rising to become chief operating officer for the investment bank by the time of his departure in 2012. That long period of underperformance has seen the bank's shares fall nearly 30% since Winters took over as CEO in June 2015.

Persons: Peter Nicholls, Diego De Giorgi, Andy Halford, De Giorgi, Halford, Matt Britzman, Hargreaves, Bill Winters, Frederic Oudea's, Winters, Britzman, We've, Bank of America Merrill Lynch, Goldman Sachs, Joe Dickerson, StanChart, underperformance, Iain Withers, Lawrence White, Radhika Anilkumar, Bernadette Baum, David Holmes Organizations: Chartered, REUTERS, Bank of America, Pegasus, British, Societe Generale, Goldman, Jefferies, Thomson Locations: London, Britain, Pegasus Europe, Asia, Africa, Bengaluru

☆ CIBC's profit falls below estimates as it guards against bad loans
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

A sign for the The Canadian Imperial Bank of Commerce (CIBC) in Toronto, Ontario, Canada December 13, 2021. CIBC, the last big six Canadian bank to report results for the third quarter, was also the latest to guard against potentially sour loans, a factor that is dragging on earnings across the sector. The issue was reflected in its core Canadian personal and business banking segment, where net income fell 16%. At its commercial banking and wealth management segment, net income fell 4%. CIBC's peers TD Bank (TD.TO), Bank of Montreal (BMO.TO), Bank of Nova Scotia (BNS.TO) and National Bank (NA.TO) missed quarterly profit estimates earlier in the week, also weighed down by higher provisions.

Persons: Carlos Osorio, Nivedita Balu, Pritam Biswas, Shweta Agarwal, David Holmes Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, Bengaluru

☆ Aussie home price downturn over, to rise this year and next
▼ + stars: | 2023-08-31 | by ( Devayani Sathyan | ) www.reuters.com time to read: +3 min

The Aug. 14-29 Reuters survey of 14 analysts forecast home prices will rise 4.4% this calendar year, a significant upgrade from the flat-lining predicted in a poll published in June. In 2024, average house prices were forecast to drift up another 5%, in line with the latest New Zealand home price poll forecast and a slight increase from 4.5% in the previous poll. With many aspiring homebuyers kept away from ownership and remaining in the rental market, average lease prices were also expected to rise sharply. "Unfortunately, most indicators suggest the squeeze has longer to run with additional supply unlikely to come onto the rental market anytime soon." Home prices in Sydney were forecast to rise 6.9% this year and 5.0% next, while prices in Melbourne, Brisbane, Adelaide, and Perth were expected to rise between 3% and 6% in 2023 and 2024.

Persons: Michelle Ciesielski, Knight Frank, Ciesielski, homebuyers, Matthew Hassan, Devayani Sathyan, Susobhan Sarkar, Hari Kishan, David Holmes Organizations: Reserve Bank of Australia, Westpac, Thomson Locations: New Zealand, Australia, Sydney, Melbourne, Brisbane, Adelaide, Perth

☆ Quito says security operations within prisons may have led to car bombs
▼ + stars: | 2023-08-31 | by ( Alexandra Valencia | ) www.reuters.com time to read: +2 min

[1/4] Firefighters work on the remains of a car, that according to authorities was loaded with two gas tanks and later exploded when suspects set it on fire, seemingly targeting Ecuador's prison agency SNAI, in Quito, Ecuador August 31, 2023. REUTERS/Karen Toro Acquire Licensing RightsQUITO, Aug 31 (Reuters) - Two car explosions targeted at Ecuadorean prisons agency SNAI may have been set off in response to government security operations at prisons this week, President Guillermo Lasso and a top security official said on Thursday. "There are violent actions like that of the two cars burned in Quito last night, clearly that's a reaction to an action. The action of imposing order in the prisons, the reaction to intimidate," Lasso said at a housing event in Los Rios province. Bravo also said the Quito explosions could be related to prisoner transfers.

Persons: SNAI, Karen Toro, Guillermo Lasso, Lasso, Fernando Villavicencio, Juan Zapata, Zapata, Wagner Bravo, Bravo, Alexandra Valencia, Julia Symmes Cobb, David Holmes, Cynthia Osterman, Leslie Adler Organizations: REUTERS, Rights, Interior, Security, Thomson Locations: Quito, Ecuador, Rights QUITO, Los Rios, Cuenca

CIBC blamed soft U.S. real estate and construction sectors and high interest rates for its three-fold jump in bad loan provisions to C$736 million ($544 million). "Where we are seeing the issues is in commercial real estate and in particular, in the institutional office space," said Shawn Beber, the bank's head of U.S. operations. And as that transition continues, you'll see (commercial real estate) wind up being a smaller percentage of the overall U.S. portfolio as our commercial and industrial and our wealth businesses continue to grow," Beber told analysts. The U.S. office portfolio represents less than 1% of CIBC's overall loan book and 20% of overall U.S. commercial real estate. "It appears that higher interest rates for longer may be the primary culprit," RBC analyst Darko Mihelic said.

Persons: Carlos Osorio, Shawn Beber, Beber, Brian Madden, Darko Mihelic, Nivedita Balu, Pritam Biswas, David Holmes, Mark Potter Organizations: Canadian Imperial Bank of Commerce, CIBC, REUTERS, Bank, Bank of Montreal, Bank of Nova, National Bank, Royal Bank of Canada, Investment, RBC, Thomson Locations: Toronto , Ontario, Canada, U.S, Bank of Nova Scotia, Canadian, Toronto, Bengaluru

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. Toyota, which restarted operations at its Japanese assembly plants on Wednesday, has seen production recovering this year. The company said its global sales had risen 8% in July from the same month a year earlier to a record 859,506 vehicles. It also reported a 15% increase in global production in that month. Toyota's global production is likely to reach around 10.2 million vehicles this year, topping 10 million for the first time, Nikkei reported late on Wednesday.

Persons: David, Dee, Delgado, Maki Shiraki, Daniel Leussink, David Dolan, Christopher Cushing, David Holmes Organizations: New York, REUTERS, Rights, Toyota Motor Corp, Toyota, Lexus, Nikkei, Thomson Locations: Manhattan , New York City, U.S, Japan, China, United States, Europe

COPENHAGEN, Aug 30 (Reuters) - Lego continued to take market share in the first six months of the year even as the toy market declined and Chinese consumers returned to stores at a slower pace than expected, the Denmark-based toymaker said on Wednesday. By comparison, Lego grew sales 17% last year and 27% the year before. "But we've taken market share and have grown 10% faster than the market." The company's consumer sales grew 3% in a market that declined by 7%, meaning it grabbed market share from competitors like Hasbro (HAS.O) and Barbie-maker Mattel (MAT.O). He said he believes Lego can continue opening stores at the same pace for another five to 10 years.

Persons: toymaker, Niels Christiansen, Christiansen, Jacob Gronholt, Pedersen, David Holmes Organizations: Reuters, Hasbro, Mattel, Eiffel, Thomson Locations: COPENHAGEN, Denmark, China

☆ England accelerates vaccine programmes due to new COVID variant
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

A nurse prepares a dose of a coronavirus disease (COVID-19) vaccine at the University Hospital Coventry, in Coventry, Britain April 22, 2022. Jacob King/Pool via REUTERS/File Photo Acquire Licensing RightsLONDON, Aug 30 (Reuters) - England will bring forward the start of its autumn flu and COVID-19 vaccination programmes as a precautionary step after the identification of highly mutated COVID variant BA.2.86, which has been found in Britain. However, Britain's health ministry said annual vaccination programmes for older and at-risk groups would start a few weeks earlier than planned in light of the variant. It is not currently categorised as a "variant of concern" in Britain, and the health ministry said there was no change to wider public health advice. "As with all emergent and circulating COVID-19 variants ... we will continue to monitor BA.2.86 and to advise government and the public as we learn more."

Persons: Jacob King, Maria Caulfield, Jenny Harries, Harries, Alistair Smout, David Holmes Organizations: University Hospital Coventry, UK Health Security Agency, Thomson Locations: Coventry, Britain, England, Denmark, COVID

☆ UN vote on Lebanon peacekeeping force delayed as France, US, UAE argue
▼ + stars: | 2023-08-30 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

The U.N. Interim Force in Lebanon (UNIFIL) - established in 1978 - patrols Lebanon's southern border with Israel. France has drafted a U.N. Security Council resolution to extend the peacekeeping mission for another year, but the United States and the United Arab Emirates argue it has weakened some language on the ability of U.N. troops to move freely. Lebanon's caretaker foreign affairs minister Abdallah Bou Habib has said that the new Security Council resolution should stipulate that UNIFIL coordinate with the Lebanese army. That has sparked friction with Hezbollah, which effectively controls southern Lebanon despite the presence of the Lebanese army. In December, an Irish peacekeeper was killed when his UNIFIL vehicle came under fire in southern Lebanon.

Persons: Aziz Taher, Antonio Guterres, Guterres, Linda Thomas, Greenfield, Gilad Erdan, Abdallah Bou Habib, Sayyed Hassan Nasrallah, Michelle Nichols, Dan Williams, Laila Bassam, Gebeily, David Holmes Organizations: Lebanese, UN, REUTERS, UNITED NATIONS, Nations, United, Interim Force, Security, Security Council, Reuters, Israel's Army Radio, Irish, UNIFIL, Thomson Locations: Israel, Lebanon, France, United States, Emirates, Iran, UAE, Lebanese

☆ Peru slashes growth outlook amid falling copper investment
▼ + stars: | 2023-08-29 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, Aug 29 (Reuters) - Peru lowered its economic growth forecasts for 2023 and 2024 on Tuesday amid poor weather, lower private investment in mining, and anti-government protests earlier this year. The South American country's economy is expected to grow 1.1% this year, the economy ministry said in Peru's official gazette. Next year, Peru's economy is expected to grow 3.0%, the ministry added, down from a previous estimate of 3.4%. That makes El Nino the largest immediate threat to Peru's economy, the government said. Meanwhile, Peru's estimated current account deficit was lowered to 1.6% of GDP, down from the 2.1% of GDP previously expected.

Persons: LIMA, El, Peru's, Alex Contreras, Marco Aquino, Kylie Madry, Isabel Woodford, David Holmes, Alistair Bell, Bill Berkrot Organizations: Peruvian Fiscal, El, El Nino, Finance, year's, U.S, Thomson Locations: Peru

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