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That has led to a rare situation in Canada where banks are seeing mortgage amortizations getting extended beyond 30 years, sparking calls from regulators to take immediate action to mitigate risks. For the other four banks, mortgages amortizing under 25 years account for a half to nearly three quarters. Scotiabank's Canada head Dan Rees said the bank was now being more "disciplined with regards to customer selection" for new mortgages. Still, the risks remain elevated as consumers are struggling to make monthly payments due to the rising cost of living. TD Bank's Canada personal banking head Michael Rhodes told analysts this week that "a meaningful number of customers" are making the changes.

Persons: Mark Blinch, Hratch Panossian, Dan Rees, Brian Madden, Michael Rhodes, Dave McKay, Nivedita Balu, Denny Thomas, Stephen Coates Organizations: REUTERS, Rights, Canada's, Reuters, CIBC, Bank of Nova, Investment, Thomson Locations: Toronto, Milton , Ontario, Canada, Bank of Nova Scotia

ESA & NASA/Solar Orbiter/EUI team/Handout via REUTERS File Photo Acquire Licensing RightsBENGALURU, Sept 2 (Reuters) - Following quickly on the success of India's moon landing, the country's space agency launched a rocket on Saturday to study the sun in its first solar mission. The rocket left a trail of smoke and fire as scientists clapped, a live broadcast on the Indian Space Research Organisation's (ISRO) website showed. While Russia had a more powerful rocket, India's Chandrayaan-3 out-endured the Luna-25 to execute a textbook landing. Prime Minister Modi is pushing for India's space missions to play a larger role on a world stage dominated by the United States and China. Satellites in low earth orbit are the main focus of global private players, which makes the Aditya-L1 mission a very important project," he said.

Persons: clapped, Luna, Modi, Sankar Subramanian, Somak Raychaudhury, Rama Rao Nidamanuri, Nivedita, Jayshree, William Mallard Organizations: Solar Orbiter, ESA, NASA, Solar, Rights, Indian Space Research, Elon, SpaceX, Indian Institute of Space Science, Technology, ISRO, Thomson Locations: India, Russia, United States, China, Bengaluru

☆ Disney, Charter in talks for new distribution agreement
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 31 (Reuters) - Disney (DIS.N) said on Thursday that the company is in negotiations with Charter Communications (CHTR.O) for a new agreement after Disney pulled ESPN, ABC and other cable channels off Charter-owned Spectrum's cable service. Charter will host a webcast on Friday to discuss the status of its distribution agreement with Disney, the company said in a statement. Minutes later, a message appeared on the screen informing viewers that Disney had removed its programming, social media posts said. Cable operator Charter Communications (CHTR.O) serves more than 32 million customers in 41 states through its Spectrum brand, according to its website.

Persons: Brendan McDermid, Disney, Akanksha, Nivedita Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, Charter Communications, ESPN, ABC, Spectrum, U.S, Twitter, Cable, Disney Entertainment, Thomson Locations: New York, U.S, Bengaluru

The second-quarter reading was far lower than the Bank of Canada's (BoC's) forecast for a 1.5% annualized GDP growth as well as the 1.2% gain expected by analysts. The quarterly slowdown was largely due to declines in housing investment and smaller inventory accumulation as well as slower international exports and household spending, Statistics Canada said. The central bank hiked its benchmark overnight rate to a 22-year-high of 5.0% in July, the tenth increase since March of last year. The high interest rate environment has coincided with falling housing investment, which recorded its fifth consecutive quarterly decrease in the three months ended in June. The housing investment decline was led by a sharp drop in new construction as well as a fall in renovation activities, Statscan said.

Persons: Stephen Brown, Andrew Kelvin, Statscan, downwardly, Doug Porter, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Nivedita Balu, Mark Porter Organizations: Bank of Canada's, North, Capital Economics, Bank of Canada, Statistics, BoC, Reuters, TD Securities, Money, Canadian, BMO Capital Markets, Thomson Locations: OTTAWA, North American, Statistics Canada, Canada

☆ Disney, Charter rates dispute spills over to TVs as ESPN, ABC go dark
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 1 (Reuters) - Disney (DIS.N) and Charter Communications (CHTR.O) traded salvos over their unresolved distribution agreement after channels like ESPN went dark on Thursday for customers of Charter's Spectrum cable service. Disney pulled ESPN, ABC and other cable channels off Spectrum, which serves giant markets like New York and Los Angeles, in the middle of U.S. Open tennis coverage. Charter flashed a message on screen that urged viewers to contact Disney. Charter serves more than 32 million customers in 41 states through its Spectrum brand, according to its website. Without a resolution, Charter customers will not have access to other live sporting events including college football, which just kicked off its season.

Persons: Brendan McDermid, salvos, Disney, Akanksha, Nivedita Bhattacharjee, Arun Koyyur Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, Charter Communications, ESPN, Charter's, ABC, U.S, Cable, Thomson Locations: New York, U.S, Los Angeles, Bengaluru

☆ Canada's antitrust agency favors RBC's $10 billion deal for HSBC unit
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsSept 1 (Reuters) - Canada's Competition Bureau said on Friday Royal Bank of Canada's (RY.TO) (RBC) proposed acquisition of HSBC's (HSBA.L) domestic unit for C$13.5 billion ($10 billion) is unlikely to substantially hurt competition. Still, the regulator found that the deal would "result in a loss of rivalry between Canada's largest and seventh largest banks." It has been seeking comments on how the deal could impact consumers and the stability of the banking sector. Reporting by Manya Saini in Bengaluru and Nivedita Balu in Toronto; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Osorio, OSFI, Manya Saini, Balu, Arun Koyyur Organizations: Royal Bank of Canada, REUTERS, Friday Royal Bank of Canada's, RBC, Finance, HSBC, Reuters, Bank of Montreal, Thomson Locations: Toronto , Ontario, Canada, Bengaluru, Toronto

☆ Fed warned Goldman's fintech unit on risk, compliance oversight -FT
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. The Fed declined to comment while Goldman Sachs and TxB did not immediately respond to a Reuters request for comment on the report. "We are not permitted to comment on any supervisory matters related to our regulators," Goldman Sachs told FT. The transaction banking business is a part of the company's Platform Solutions unit. Along with transaction banking, the Platform Solutions unit houses credit cards and a fintech unit, GreenSky purchased for $2.2 billion in 2021.

Persons: Goldman Sachs, Andrew Kelly, Goldman, TxB, GreenSky, Lavanya, Nivedita Organizations: REUTERS, U.S . Federal Reserve, Financial Times, Thomson Locations: Manhattan , New York, U.S, 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

☆ AI startup Speak raises $16 million in latest funding led by Lachy Groom
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 31 (Reuters) - Speak, an artificial intelligence (AI)-backed English language learning platform, said on Thursday that it has raised $16 million in fresh funding led by venture capitalist Lachy Groom. Lachy Groom's Fund had participated in Speak's previous funding round in which it raised $20 million. OpenAI Startup Fund is investing $100 million in AI firms and is looking for early-stage startups in sectors including healthcare, climate change and education, according to its website. Reporting by Anirudh Saligrama in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Groom, Drew Houston, Arash Ferdowsi, Lachy, Anirudh, Nivedita Organizations: REUTERS, Fund, Reuters, Google, Microsoft, Thomson Locations: San Francisco, Japan, Taiwan, Germany, France, Brazil, Mexico, Bengaluru

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

☆ After Chandrayaan-3: India's upcoming and past space missions
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +4 min

Here are highlights of Indian Space Research Organisation's (ISRO) upcoming and past missions:ADITYA-L1Slated for launch on Sept. 2, the Aditya L1 (Aditya is a name for the sun in the Hindi language) is the first Indian space mission to study the sun. PAST MISSIONS:* Chandrayaan-3 - On August 23, India became the first country to safely land a craft in the moon's south pole region. * Chandrayaan-2 - In 2019, ISRO launched its second moon mission, its first attempt to study the lunar south pole. * Mars Orbiter Mission (MOM) - In 2013, ISRO became the fourth space agency to put a spacecraft in the Mars orbit. * Chandrayaan-1 - India's first mission to the Moon was launched successfully in 2008.

Persons: GAGANYAAN, Vikram, Jitendra Singh, Nivedita, Gerry Doyle, Raju Gopalakrishnan Organizations: ISRO, Handout, REUTERS, Rights, Indian Space Research, Centre, NASA, Mars Orbiter, Thomson Locations: India, Bengaluru

BMO, which bought U.S. regional lender Bank of the West earlier this year, said provision for credit losses rose to C$492 million ($361.42 million), compared with C$136 million a year ago. The bank's earnings were also affected by severance costs of C$162 million and C$83 million in legal provisions at its capital markets unit. At Bank of Montreal, net interest income for the quarter rose to C$4.91 billion, compared with C$4.20 billion last year. At Scotiabank net interest income fell to C$4.58 billion, from $4.68 billion a year ago, largely hurt by lower corporate lending and lower loan fees. At Scotiabank, net income came in at C$2.23 billion, compared with C$2.61 billion.

Persons: Carlos Osorio, Tayfun Tuzun, BMO's, Scott Thomson, Thomson, John Aiken, BMO's Tuzun, Nivedita Balu, Pritam Biswas, Sri Hari, Shweta Agarwal, Bernadette Baum, Mike Harrison, Jonathan Oatis Organizations: Bank of Montreal, REUTERS, Bank of Nova, Bank of Canada's, BMO, Bank, Scotiabank, Barclays, Bank of, Analysts, Thomson Locations: Toronto , Ontario, Canada, Bank of Nova Scotia, Toronto, U.S, Mexico, Bank of Montreal, Bengaluru

☆ Byju's business head resigns amid reorganisation at Indian startup
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A man walks past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsBENGALURU, Aug 29 (Reuters) - Byju's Chief Business Officer, Prathyusha Agarwal, and two other senior executives have resigned as the struggling Indian ed-tech startup restructures its business and operations, a company spokesperson said on Tuesday. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company, once India's most valuable startup, said. Byju's has let go of thousands of employees this year as it grapples with multiple legal and financial woes. Reuters has reported that Byju's will file 2022 audited earnings by September and 2023 results by December.

Persons: Adnan Abidi, Prathyusha Agarwal, Agarwal, Himanshu Bajaj, Mukut Deepak, BYJU'S, Moneycontrol, Byju's, Mohandas Pai, Rajnish Kumar, Pranav Kiran, Navamya Ganesh, Nivedita Organizations: Education Technology, REUTERS, Rights, Byju's, Zee Entertainment Enterprises, Prosus NV, Deloitte, Reuters, State Bank of India, Thomson Locations: New Delhi, India, Bengaluru

☆ India sets September launch date for mission to study the sun
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

A security guard stands behind the logo of Indian Space Research Organisation (ISRO) at its headquarters in Bengaluru, India, June 12, 2019. REUTERS/Francis Mascarenhas//File Photo Acquire Licensing RightsBENGALURU, Aug 28 (Reuters) - India's first space-based observatory to study the sun will be launched on Sept. 2, the country's space agency said on Monday. The Aditya-L1, India's first space-based solar probe, aims to study solar winds, which can cause disturbance on earth and are commonly seen as "auroras". "The total travel time from launch to L-1 (Langrange point) would take about four months for Aditya-L1," the Indian Space Research Organisation (ISRO) said in a post on X. It's latest moon mission had a budget of about $75 million- less than that of Hollywood space thriller "Gravity".

Persons: Francis Mascarenhas, Nivedita, Sakshi Dayal, Louise Heavens, Mike Harrison Organizations: Indian Space Research Organisation, ISRO, REUTERS, Rights, Twitter, Aditya, Thomson Locations: Bengaluru, India, Sriharikota

☆ India's Skyroot expects to double rocket launches amid Chandrayaan-3's success
▼ + stars: | 2023-08-28 | by ( Rishika Sadam | ) www.reuters.com time to read: +2 min

Skyroot Aerospace's logo is seen in this picture illustration taken November 26, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHYDERABAD, Aug 28 (Reuters) - Skyroot Aerospace, which launched India's first private rocket in 2022, aims to double its planned launches starting next year on a likely boost to the country's fledgling private space sector from the success of the Chandrayaan-3 moon mission. The company conducted India's first private rocket launch looking to cut satellite launch costs in an industry fast getting crowded as various firms build out networks to deliver broadband services, which need small satellite launches. Chandana said the company plans to ramp up its 280-member workforce by 20% in the next two years to support the expected increase in launches. So, the next large fundraising round, the Series C round, will probably be in 2024 end," Chandana said.

Persons: Dado Ruvic, Pawan Kumar Chandana, Chandana, GIC, Rishika Sadam, Nivedita Bhattacharjee, Dhanya Ann Thoppil Organizations: REUTERS, Rights, Skyroot Aerospace, Reuters, Indian Space Research, Thomson Locations: Hyderabad, India

☆ Exclusive: L&T, HAL vetted to bid on India rocket privatisation-source
▼ + stars: | 2023-08-25 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +3 min

BENGALURU, Aug 25 (Reuters) - Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) - often called ISRO's "workhorse" rocket.

Persons: Larsen, Narendra Modi, Nivedita, Sharon Singleton Organizations: Toubro, Hindustan Aeronautics, Indian Space Research Organisation, ISRO, SpaceX, HAL, Launch, Indian, Thomson Locations: BENGALURU, India, Bengaluru

☆ Explainer: What is India's next space mission after moon landing?
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Amit Dave Acquire Licensing RightsBENGALURU, Aug 25 (Reuters) - On the heels of the success of the Chandrayaan-3 moon landing, India's space agency has set a date for its next mission - this time to study the sun. It aims to study solar winds, which can cause disturbance on earth and are commonly seen as "auroras". In 2019, the government sanctioned the equivalent of about $46 million for the Aditya-L1 mission. The Indian space agency has earned a reputation for world-beating cost competitiveness in space engineering that executives and planners expect will boost its now-privatised space industry. The Chandrayaan-3 mission, which landed a spacecraft on the lunar south pole, had a budget of about $75 million.

Persons: Amit Dave, Joseph, Louis Lagrange, Nivedita, Giles Elgood Organizations: REUTERS, Rights, Indian Space Research Organisation, European Space Agency, NASA, Orbiter, ISRO, Thomson Locations: Gujarat Science City, Ahmedabad, India, Sriharikota, French, Bengaluru

☆ TD expects penalties from US probes on money laundering
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsCompanies Toronto-Dominion Bank FollowTORONTO, Aug 24 (Reuters) - TD Bank Group (TD.TO) on Thursday said it expects fines and "non-monetary" penalties related to investigations by U.S. authorities over its anti-money laundering compliance program. "The bank is cooperating with such authorities and is pursuing efforts to enhance its Bank Secrecy Act/anti-money laundering compliance program," TD said in the filing. "What I can say ... we are pursuing efforts to enhance our U.S. AML compliance program," he told analysts. The lender scrapped its planned $13.4 billion acquisition of U.S. regional lender First Horizon earlier this year, a move that was cheered by investors amid the U.S. regional banking crisis.

Persons: Chris Wattie, Canada's, Bharat Masrani, TD, Gabriel Dechaine, Denny Thomas, Nivedita Balu, Deepa Babington Organizations: Dominion Bank, REUTERS, Rights Companies, TORONTO, Bank Group, U.S, U.S . Department of Justice, Bank, First, National Bank, DOJ, Thomson Locations: Toronto, Ottawa , Ontario, Canada, Rights Companies Toronto, U.S

"We are seeing evidence of slowing labor markets as evidenced by slowing wage growth, lower job postings and an increase in Canadian unemployment. The country's second-largest bank Toronto-Dominion Bank (TD.TO), however, missed analysts' estimates for quarterly profit, which was hurt by higher expenses, rainy day funds to cover for unpaid loans and weakness in its U.S. business. RBC reported adjusted earnings of C$2.84 per share, beating analysts' estimates of C$2.71 per share, according to Refinitiv data. The bank's earnings were also impacted by a C$306 million payment related to the termination of its First Horizon acquisition. RBC and TD together account for half of the market share among the big six Canadian banks with a market capitalization of C$168 billion and C$151 billion respectively.

Persons: Dave McKay, McKay, May, John Aiken, Kelvin Tran, TD, Nivedita Balu, Manya Saini, Sri Hari, Pritam Biswas, Shilpi Majumdar, Mark Potter, Sharon Singleton Organizations: Royal Bank of Canada, RBC, Barclays, Dominion Bank, Bank of Canada, Thomson Locations: China, Toronto, Canada, Bengaluru

☆ Chandrayaan-3 punches home India's lead in budget space flights
▼ + stars: | 2023-08-24 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +4 min

[1/2] People watch a live stream of Chandrayaan-3 spacecraft's landing on the moon, inside an auditorium of Gujarat Science City in Ahmedabad, India, August 23, 2023. Although India's government allocated the equivalent of $1.66 billion for the department of space for the fiscal year ending in March, it spent around 25% less. By contrast, NASA has a $25 billion budget for the current year. Put another way, the annual increase in NASA's budget - $1.3 billion - was more than what ISRO spent in total. It used Indian suppliers for vehicle assembly, transportation and electronics to keep costs low.

Persons: Amit Dave, Chandrayaan's, Russia's Luna, Somak Raychaudhury, Amit Sharma, Somanath, Narendra Modi's, Ankit Patel, Patel, Nivedita, Aditi Shah, Aftab Ahmed, Kevin Krolicki, Raju Gopalakrishnan Organizations: REUTERS, Rights, Indian Space Research, NASA, ISRO, Somanath, Ashoka University, Tata Consulting Engineers, Reuters, Thomson Locations: Gujarat Science City, Ahmedabad, India, Chandrayaan, Russia, Bengaluru, New

The country's second-largest bank Toronto-Dominion Bank (TD.TO), however, missed Bay Street estimates for quarterly profit hurt by higher expenses and rainy day funds to cover for unpaid loans. The bank's earnings were also impacted by a C$306 million charge related to the termination of its First Horizon acquisition. "The higher interest rate would put pressure on the consumer. The banks set aside more money for bad loans compared to the prior quarter as consumers struggle to make payments amid high costs of living. RBC set aside C$616 million for credit losses, up from C$340 million a year ago, and TD set aside C$766 million, a jump from C$351 million.

Persons: Mark Blinch, Dave McKay, John Aiken, Kelvin Tran, Nivedita Balu, Sri Hari, Pritam Biswas, Shilpi Majumdar, Mark Potter Organizations: Royal Bank of Canada, REUTERS, RBC, Barclays, Dominion Bank, The Bank of Canada, Thomson Locations: Toronto, Canada, Sri, Bengaluru

As of January 2023, residential mortgage debt stood at C$2.08 trillion ($1.53 trillion), according to the Canada Mortgage and Housing Corporation (CMHC). Mortgage rates tend to track moves in the bond market with a lag. At 6.79%, the five-year mortgage rate posted by major Canadian banks has climbed to its highest since November 2008, data from the Bank of Canada shows. When it is time for renewal, options for homeowners hoping to shop for better interest rates might be limited as they would have to re-qualify for the stress test at the latest interest rates with their new lender. "It certainly is going to be problematic for the Canadian economy if rates stay at this level."

Persons: that's, James Laird, Laird, Daniel Foch, Foch, Stephen Brown, Nivedita Balu, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank of Canada, Canada Mortgage, Housing Corporation, Ratehub.ca, Bank of, Toronto Regional Real Estate Board, Greater Toronto Area, Reuters, North, Capital Economics, Thomson Locations: United States, Toronto, Greater Toronto, Canada, North America

☆ Explainer: Why are countries racing to the moon's heavily cratered south pole?
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +3 min

In the same year, another NASA probe that hit the south pole found ice below the moon's surface. WHAT MAKES THE SOUTH POLE ESPECIALLY TRICKY? Russia's Luna-25 craft had been scheduled to land on the south pole but spun out of control on approach and crashed on Sunday. The south pole - far from the equatorial region targeted by previous missions, including the crewed Apollo landings - is full of craters and deep trenches. Both the United States and China have planned missions to the south pole.

Persons: India's, Russia's Luna, Nivedita, Joey Roulette, Kevin Krolicki, Gerry Doyle, Nick Macfie Organizations: Soviet Union, Apollo, Brown University, NASA, Indian Space Research, ISRO, Handout, REUTERS, Artemis Accords, Thomson Locations: BENGALURU, WASHINGTON, Soviet, United States, China, U.S, Russia, Bengaluru, Washington

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