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A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. Brent crude futures rose $1.00, or 1.1%, to $93.26 a barrel by 11:24 a.m. EDT (1524 GMT). Both front-month contracts were headed for a second weekly gain on heightened fears of the Middle East conflict spreading. "The Middle East remains a big focus of the market because of fears of a region-wide conflict that would likely involve a disruption of oil supplies," said John Kilduff, a partner at New York-based Again Capital. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, John Kilduff, Kilduff, Yoav Gallant, Washington's, Phil Flynn, Tamas Varga, PVM, Shariq Khan, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely, David Gregorio Our Organizations: REUTERS, . West Texas, Israeli, Pentagon, . Strategic Petroleum Reserve, Price Futures, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, BENGALURU, Israel, New York, Yemen, Saudi Arabia, Russia, OPEC

All three benchmarks had gained more than $1 in earlier trading, and both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

☆ Low-cost EV maker e.GO eyes European, US expansion
▼ + stars: | 2023-10-20 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Aachen-based e.GO's microfactories cost around $60 million to build, are highly automated and can make around 30,000 EVs annually, Vezvaei said. The company is going public via a merger with special purpose acquisition company (SPAC) Athena Consumer Acquisition , which will value the EV maker at around $900 million, plus raise $235 million in cash and $50 million in debt financing. The EV maker currently makes the e.Wave X, a small four-seater EV for 24,990 euros ($26,457) at its plant in Aachen. The company's listing comes a few years after a major wave of SPAC mergers where EV startups raised billions of dollars. "This is not yet just another EV company, but a company that actually makes cars," she said.

Persons: Wolfgang Rattay, Ali Vezvaei, Vezvaei, e.GO, Tesla's, Isabelle Freidheim, Nick Carey, Jason Neely Organizations: e.GO Mobile, REUTERS, Mobile, U.S, Nasdaq, Thomson Locations: Aachen, Germany, Europe, North Macedonia, U.S

Both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "Signs that an Israeli ground offensive in the Gaza Strip is imminent have been pushing oil prices up significantly since yesterday. So far, however, the supply situation on the market has not changed," Commerzbank analysts wrote in a note on Friday. Oil prices are "likely to remain well supported, especially as the oil market is significantly undersupplied at present", they said. "Venezuelan oil production will not be a significant factor in shaping the global oil balance in the foreseeable future," Tamas Varga of oil broker PVM wrote in a note.

Persons: Andrew Kelly, Brent, Yoav Gallant, Tamas Varga, PVM, Paul Carsten, Florence Tan, Sudarshan, Shri Navaratnam, Jason Neely Organizations: REUTERS, Minister, Brent, . West Texas, Israeli, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, Thomson Locations: Manhattan , New York City, U.S, Gaza, Venezuela, Israel, Yemen, Saudi Arabia, Russia, United States, Washington, OPEC, London

☆ EU antitrust regulators resume Adobe, Figma probe, deadline Feb. 5
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Adobe Inc FollowFigma Inc FollowBRUSSELS, Oct 20 (Reuters) - European Union antitrust regulators have resumed their investigation into Photoshop maker Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma, setting a Feb. 5 deadline for their decision, a European Commission filing showed on Friday. The EU watchdog stopped the clock last month while waiting for requested information from the companies. Adobe will likely have to provide remedies to address such concerns before it can secure regulatory approval for the deal. Reporting by Foo Yun Chee; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Foo Yun Chee, Jason Neely Organizations: REUTERS, Union, EU, Adobe, Thomson

☆ Elon Musk's X to launch premium subscriptions soon
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 20 (Reuters) - Elon Musk said on Friday social media platform X, formerly known as Twitter, will soon launch two new tiers of premium subscriptions. Earlier this week, the company started charging new users $1 in New Zealand and the Philippines as a test case for accessing the platform. Musk has acknowledged that the platform has taken a hit on revenue and has blamed activists for pressuring advertisers. To generate revenue, Musk started charging $8 per month for the blue check subscription service and tried to woo advertisers back to X with offers of discounts.

Persons: Dado Ruvic, Elon Musk, Musk, Gursimran Kaur, Supantha Mukherjee, Savio D'Souza, Jason Neely Organizations: Twitter, REUTERS, Supantha, Thomson Locations: New Zealand, Philippines, Bengaluru, Stockholm

☆ EV maker VinFast strikes shares deal with Yorkville for up to $1 billion
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Oct 20 (Reuters) - Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets. VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of ordinary shares in VinFast at any time during the term of the agreement, VinFast said in a filing to the U.S. securities authority. VinFast so far has sold around 22,000 cars, aiming to meet this year's sale target of 40,000 to 50,000 units. Yorkville two years ago bought up to $400 mln worth of share in EV maker Lordstown. In April it said it would receive a fresh round of funding pledges worth $2.5 billion for its future development, of which $1 billion would be from its founder's pocket.

Persons: Mike Blake, VinFast, Pham Nhat Vuong, Ford, –, David Mansfield, Vuong, Mark Angelo, VinFast's, Tesla, Phuong Nguyen, Jason Neely, Martin Petty Organizations: Los Angeles Auto, REUTERS, Rights, U.S, Yorkville Advisors, Nasdaq, Yorkville, Lordstown, Thomson Locations: Los Angeles , California, U.S, Rights HANOI, Yorkville, VinFast, Vietnam

Real internal growth (RIG) - or a measure of sales volumes - fell 0.6%, meeting expectations. "The ultimate catalyst for the stock's multiple to improve is going to be seeing that volume number going positive." Analysts had on average expected organic sales growth of 8.1%. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8% and underlying trading operating profit margin between 17.0% and 17.5%. The drug's popularity has prompted concerns in the consumer and retail industry over whether food sales will be impacted.

Persons: Denis Balibouse, Nestle, Mark Schneider, Schneider, Richard Saldanha, Maggi, Novo, Richa Naidu, Christopher Cushing, Jason Neely Organizations: Nestle, REUTERS, Gillette, Aviva, Novo Nordisk's, Walmart, Thomson Locations: Romont, Switzerland, Ukraine

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last month. The EU competition watchdog and Hitachi declined to comment. The UK's competition agency cleared the deal this month after Hitachi pledged to sell its mainline signalling business in the United Kingdom, France, and Germany. ($1 = 0.9478 euros)Reporting by Foo Yun Chee; editing by Mark Potter and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee, Mark Potter, Jason Neely Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, European, EU, Thomson Locations: Zurich, Switzerland, France, Germany, United Kingdom

☆ Oil spikes as Middle East strife heightens supply concerns
▼ + stars: | 2023-10-18 | by ( Natalie Grover | ) www.reuters.com time to read: +4 min

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Brent crude futures were up $1.33, or about 1.5%, to $91.23 a barrel at 1231 GMT. West Texas Intermediate crude (WTI) futures were up $1.28, or roughly 1.5%, at $87.94 a barrel. "This turn of diplomatic fortunes again garners fear of conflict spread and therefore the leap in oil," said John Evans of oil broker PVM. Elsewhere in the Saudi city of Jeddah, Iranian Foreign Minister Hossein Amirabdollahian urged members of the Organisation of Islamic Cooperation to impose an oil embargo on Israel.

Persons: Nick Oxford, Brent, Jordan, Biden, Joe Biden, John Evans, Hossein Amirabdollahian, Vivek Dhar, Harry Murphy Cruise, Natalie Grover, Arathy, Muyu Xu, Lincoln, Jason Neely, Elaine Hardcastle, Louise Heavens Organizations: REUTERS, Brent, West Texas, U.S, Hamas, Iranian, of Islamic Cooperation, Reuters, Israel Hamas, Commonwealth Bank of Australia, American Petroleum Institute, Golden, Thomson Locations: Cushing , Oklahoma, Iran, Israel, OPEC, U.S, Gaza, Gaza City, Saudi, Jeddah

☆ Volvo braces for slower truck markets next year after Q3 profit beat
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. Its adjusted operating profit margin widened to 14.4% from 10.3% as price hikes made up for higher costs. The company predicted the European and North American heavy truck markets would total 290,000 vehicles each in 2024. "We expect our major truck markets to continue to be strong throughout this year as we continue to deliver from our large order books to customers, but (we) forecast lower market levels for next year," Lundstedt said. Reporting by Marie Mannes and Marta Frąckowiak; editing by Anna Ringstrom and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Martin Lundstedt, Lundstedt, Hampus Engellau, Marie Mannes, Marta Frąckowiak, Anna Ringstrom, Jason Neely Organizations: Volvo, REUTERS, LSEG, Thomson Locations: Linden , New Jersey, U.S, STOCKHOLM, Swedish, American, Gothenburg, Russia, North America, Europe

☆ Adidas shares jump after 2023 guidance raise
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] A person looks at clothes in the Adidas store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsLONDON, Oct 18 (Reuters) - Shares in Adidas (ADSGn.DE) gained 4% at the open on Wednesday after the sportswear company raised its guidance for the year in a surprise third-quarter results pre-release. Adidas said it now expects a loss of 100 million euros ($106 million) this year versus a previously expected loss of 450 million and a loss of 700 million euros it warned of in February. It is the second time this year Adidas has raised forecasts ahead of results - expected on Nov. 8 - as sales of its remaining stock of Yeezy shoes helped boost revenue. Reporting by Helen Reid; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Bjorn Gulden's, Ye, Bjorn Gulden, Graham Renwick, Helen Reid, Jason Neely, Louise Heavens Organizations: Adidas, Woodbury, REUTERS, Berenberg, Thomson Locations: Central Valley , New York, U.S, Europe, China

☆ Whitbread's profits jump as Premier Inn-owner enjoys steady demand
▼ + stars: | 2023-10-18 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

Shares in the British company, originally a brewer, were up 3.5% to 3,437 pence by 0737 GMT to lead London's blue-chip (.FTSE) index. Leisure and business demand are showing signs of staying, Paul said, adding forward-booked revenue was ahead of last year. Whitbread, which owns restaurant chains such as Bar+Block Steakhouse and Brewers Fayre has also seen signs of food inflation easing. The company announced a further 300 million pound share buyback on Wednesday and proposed an interim dividend per share of 34.1 pence, up 40% on last year. ($1 = 0.8193 pounds)Reporting by Eva Mathews in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee Smith, WTB.L, Dominic Paul, Paul, Whitbread, Hargreaves, Derren Nathan, Brewers Fayre, Eva Mathews, Subhranshu Sahu, Jason Neely Organizations: Premier Inn Hotel, Brewers, REUTERS, H1, Whitbread, Inn, Thomson Locations: Durham, County Durham, Britain, British, Germany, Bengaluru

☆ Russia's western sea port oil exports seen falling as refinery runs rise -sources
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Russia has pledged to preserve an oil export cut of 300,000 bpd until the end of the year. Most recently Deputy Prime Minister Alexander Novak said that cut includes both oil and oil products. Russia banned oil product exports in the end of September resulting in higher oil exports in October. Still, the November refinery throughput plan could be adjusted, traders said, depending on the length of the oil product export ban and on domestic fuel prices. "Fundamentally we expect a decline in November Urals exports, though the oil product ban was something no one expected, so it is difficult to predict exports given such sudden government decisions," a source in Russian oil market said.

Persons: Alexey Malgavko, Alexander Novak, Jason Neely Organizations: REUTERS, Rights, Reuters, Thomson Locations: Siberian, Omsk, Russia, Primorsk, Ust

☆ UK's Sunak visits Israel, will warn against Gaza war escalation
▼ + stars: | 2023-10-18 | by ( Rami Amichai | ) www.reuters.com time to read: +2 min

With Israel's counter-offensive against Hamas in Gaza spiralling, Sunak will share his condolences for the loss of life in Israel and in the Palestinian enclave and warn against further escalation, his office said. Sunak was due to visit other regional capitals after Israel. Sunak will also urge the opening up of a route to allow humanitarian aid into Gaza from Egypt as soon as possible, and to enable British nationals trapped in Gaza to leave. At least seven British nationals have been killed and at least nine are still missing since the attack on Israel, Sunak's spokesperson said on Wednesday. Britain said the three countries were "vital to international efforts to uphold regional stability, free hostages and allow humanitarian access to Gaza".

Persons: BEN, Rishi Sunak, Benjamin Netanyahu, Sunak, Sunak's, James, Kylie MacLellan, Jonathan Oatis, Jason Neely, Gareth Jones Organizations: British, Hamas, Thomson Locations: GURION, Israel, Gaza, United Kingdom, Egypt, Turkey, Qatar, Britain

☆ Tesla urges US to adopt much tougher fuel efficiency rules
▼ + stars: | 2023-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsWASHINGTON, Oct 17 (Reuters) - Electric vehicle manufacturer Tesla (TSLA.O) on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed. The National Highway Traffic Safety Administration (NHTSA) in July proposed raising Corporate Average Fuel Economy (CAFE) car requirements by 2% and by 4% for trucks and SUVs annually between 2027 and 2032. The NHTSA's proposal would result in a fleet-wide average fuel efficiency of 58 miles (93 km) per gallon by 2032. On Monday a group representing General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE) and nearly all other major automakers sharply criticized NHTSA's proposal, saying it is unreasonable and requested significant revisions. U.S. automakers separately have warned the fines would cost GM $6.5 billion, Stellantis $3.1 billion and Ford $1 billion, citing NHTSA's projections.

Persons: Biden, Tesla, David Shepardson, Jason Neely Organizations: REUTERS, Rights, Traffic Safety Administration, General Motors, Toyota, Volkswagen, American Automotive Policy Council, Detroit Three, NHTSA, Ford, GM, Chrysler, Alliance, Automotive Innovation, U.S, Energy, Thomson Locations: Oslo, Norway, Victoria, NHTSA's

☆ Chinese AI startup Baichuan raises $300 mln from Alibaba, Tencent, others
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

HONG KONG/BEIJING, Oct 17 (Reuters) - Chinese artificial intelligence (AI) startup Baichuan has raised $300 million from investors including Chinese tech giants Alibaba (9988.HK) and Tencent (0700.HK), it said on Tuesday. The company said on its WeChat account that the round followed an early $50 million angel round. China's craze over generative AI has triggered a flurry of product and fundraising announcements from startups and tech giants, as the industry races to find a homegrown rival to Microsoft-backed OpenAI's ChatGPT. Shunwei Capital, a venture capital firm chaired by Xiaomi's chief executive Lei Jun, participated in the capital raise, according to a source familiar with the matter. Baidu (9888.HK) on Tuesday unveiled the newest version of its generative AI model, Ernie 4.0, saying its capabilities were on par with OpenAI's pioneering GPT-4 model, but analysts cautioned the launch lacked major highlights versus the previous version.

Persons: Wang Xiaochuan, Baichuan, Lei Jun, Shunwei, Ernie, Josh Ye, Roxanne Liu, Jason Neely, Emelia Organizations: HK, Microsoft, Shunwei, Baidu, Thomson Locations: HONG KONG, BEIJING, Hong Kong, Beijing

☆ Pfizer, BioNTech shares fall on lower COVID product sales forecast
▼ + stars: | 2023-10-16 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/File photo Acquire Licensing RightsOct 16 (Reuters) - Shares of Pfizer (PFE.N) and German partner BioNTech (22UAy.DE) fell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations. The COVID sales forecast cut was bigger than expected, Wells Fargo analyst Mohit Bansal said, adding that Wall Street's COVID sales estimates for the next few years may come down. Shares in BioNTech, which is also developing cancer treatments, were down 6.7% at a two-month low in Frankfurt. Its U.S.-listed shares fell 6.8% in premarket trading, while Pfizer's shares fell 2%. The news also dragged down shares of rival COVID vaccine maker Moderna (MRNA.O) by 4.7%.

Persons: Dado, BioNTech, drugmaker, Wells, Mohit Bansal, Ludwig Burger, Rachel More, Miranda Murray, Jason Neely, Shounak Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, U.S, Its U.S, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Wells Fargo, BioNTech, Frankfurt, Its, Bengaluru

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsSummary IEA trims 2024 oil demand forecast to 880,000 bpdOPEC sticks to 2024 forecast of 2.25 million bpdIEA cites signs of demand destruction from higher pricesLONDON, Oct 12 (Reuters) - The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth. By contrast, in its latest report OPEC stuck to its forecast that demand will rise by 2.25 million bpd in 2024. The difference between the two forecasts - 1.37 million bpd - is equivalent to more than 1% of daily world oil use. Oil demand growth is an indication of likely oil market strength, and can affect prices and fuel costs for consumers and businesses. "In 2024, solid global economic growth, amid continued improvements in China, is expected to further boost oil consumption," OPEC said in a monthly report.

Persons: Nick Oxford, Natalie Grover, Alex Lawler, Jason Neely, Susan Fenton, Jan Harvey Organizations: Midland , Texas U.S, REUTERS, International Energy Agency, of the Petroleum, IEA, OPEC, Economic Co, Development, Thomson Locations: Midland , Texas, China, OPEC, Israel, Palestinian, Nigeria, Pakistan, Egypt, United States, London

☆ OPEC sticks to 2024 oil demand growth forecast
▼ + stars: | 2023-10-12 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 12 (Reuters) - OPEC on Thursday stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China. A lifting of pandemic lockdowns in China has helped oil demand rise in 2023. OPEC has consistently forecast stronger demand growth for next year than other forecasters such as the International Energy Agency. "In 2024, solid global economic growth, amid continued improvements in China, is expected to further boost oil consumption," OPEC said in the report. The OPEC report also said OPEC oil production rose in September despite pledged OPEC+ supply cuts, driven by increases in Nigeria, Saudi Arabia and Kuwait.

Persons: Dado Ruvic, Alex Lawler, Jason Neely Organizations: REUTERS, Organization of, Petroleum, OPEC, International Energy Agency, for Economic Co, Development, Thomson Locations: China, OPEC, Europe, Nigeria, Saudi Arabia, Kuwait

LONDON, Oct 12 (Reuters) - The International Energy Agency (IEA) lowered its oil demand growth forecast for 2024 on Thursday, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. The Paris-based agency in its monthly report lowered its 2024 demand growth forecast to 880,000 barrels per day (bpd) from its previous forecast of 1 million bpd. However, it raised its 2023 demand forecast to 2.3 million bpd from a forecast of 2.2 million. In September, global benchmark Brent hit 10-month highs after Saudi Arabia and Russia extended their combined 1.3 million bpd cuts until the end of the year. However, prices dropped dramatically last week as a darkening macroeconomic outlook intensified fears of slower demand growth, eclipsing supply concerns.

Persons: Natalie Grover, Alex Lawler, Jason Neely Organizations: International Energy Agency, OPEC, Brent, Thomson Locations: Paris, OPEC, Saudi Arabia, Russia, London

☆ TSMC plans to make 6nm chips in second Japan plant, govt mulls aid
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: 1 min

A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022.REUTERS/Ann Wang/File Photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Taiwan chipmaker TSMC (2330.TW) is planning to start producing 6-nanometer advanced semiconductors in its second Japan plant in Kumamoto in 2027, the Nikkei newspaper reported on Thursday. The Japanese government is considering providing up to 900 billion yen ($6 billion) in subsidies for TSMC's plan, which in total will involve an investment of about 2 trillion yen, Nikkei reported. ($1 = 149.1500 yen)Reporting by Kantaro Komiya; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Kantaro, Jason Neely Organizations: REUTERS, Rights, Nikkei, Thomson Locations: Tainan, Taiwan, Japan, Kumamoto

☆ China's Xi spurs efforts in core technologies -state media
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping attends a reception dinner at the Great Hall of the People ahead of China's National Day in Beijing, China on September 28, 2023. Jade Gao/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 12 (Reuters) - China's President Xi Jinping has called for speeding up efforts to make breakthroughs in core technologies, state media reported on Thursday, amid tensions with the United States. During a speech on promoting the development of the Yangtze River economic belt, Xi also reaffirmed the goal of modernising China's supply chains, developing advanced manufacturing and strategic emerging industries, state media said. Faced with increased technology curbs imposed by the United States, President Xi has repeatedly stressed the need for self-reliance in technology to curb the use of foreign technology. Provinces and cities along the Yangtze River must shoulder the responsibility for food, energy security as well as supply chain security, state media quoted Xi as saying.

Persons: Xi Jinping, Jade Gao, Xi, Kevin Yao, Jason Neely, Sharon Singleton Organizations: of, Rights, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, United States, Provinces

☆ Miners Being Evacuated After Fire at Evraz-Owned Mine in Russia
▼ + stars: | 2023-10-10 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

MOSCOW (Reuters) - Miners were being evacuated from a coal mine owned by Russian steel producer Evraz in the Kemerovo region after a fire broke out, local emergency services said on Tuesday. "Evacuation of the miners is being carried out," the Kemerovo emergency services said, reporting that a degassing box had caught fire on the surface. "There was a report of a fire on the territory of the Yerunakovskaya mine, the mine was stopped, the workers are independently rising to the surface," Interfax quoted emergency services as saying earlier. Interfax quoted a Raspadskaya spokesperson as saying that the fire would not affect operations. "There is no open fire, but people are being taken out according to regulations," Interfax quoted the spokesperson as saying.

Persons: Evraz, Alexander Marrow, Kirsten Donovan, Jason Neely Organizations: Reuters Locations: MOSCOW, Russian, Kemerovo

☆ Oil prices jump as Middle East turmoil roils markets
▼ + stars: | 2023-10-09 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. While the underlying supply-demand balance is unaffected, said Tamas Varga of oil broker PVM, "any rise in tension in the Middle East usually leads to an increase in oil prices and it is no different this time around". "If the conflict envelopes Iran... up to 3% of global oil supply is at risk. And if a wider conflict eventuates that ends up impacting transit through the Strait of Hormuz, around 20% of global oil supply could be held hostage," energy analyst Saul Kavonic told Reuters.

Persons: Agustin Marcarian, Brent, WTI, Tamas Varga, Saul Kavonic, Natalie Grover, Andrew Hayley, Emily Chow, Miral Fahmy, Jason Neely Organizations: REUTERS, U.S, West Texas, Saturday, Israel, White, Citi, Reuters, International Energy Agency, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Israel, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Moscow, Iran, Hormuz, London, Beijing, Singapore

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