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☆ Russia has likely already sacrificed air defense on NATO borders by sending prized S-400s to shore up losses in Ukraine: UK intel
▼ + stars: | 2023-11-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Russia is likely moving expensive air defense systems from Kaliningrad to Ukraine, per UK intel. AdvertisementRussia has likely re-deployed several of its famed S-400 missile systems from Kaliningrad to the Ukrainian frontline, the UK Ministry of Defense said on Sunday. S-400 Triumf missile systems, also known as SA-21s, are long-range surface-to-air systems designed to destroy aircraft and missiles. The UK Defense Ministry had on November 9 predicted that Russia would need to start shifting S-400s along its borders to make up for air defense losses in Ukraine caused by recent strikes. It said the strikes show that Russia's Integrated Air Defense System is struggling to defend against modern weapons supplied to Ukraine.

Persons: — Organizations: intel, Service, UK Ministry of Defense, UK Defense Ministry, Defense Ministry, NATO, US Patriot, Integrated Air Defense, Army Tactical Missile Systems, EG Locations: Russia, Kaliningrad, Ukraine, Ukrainian, Kyiv, Moscow, Poland, Lithuania, Denmark, Baltic, France

Twelve of those newly released were among the roughly 75 people who had been kidnapped from Kibbutz Nir Oz on Oct. 7. Keren Munder, 54; Ohad Munder Zichri, 9; Ruth Munder, 78Image From left, Keren Munder, Ohad Munder Zichri and Ruth Munder. Ruth is a retired hairdresser and seamstress, according to Kibbutz Nir Oz. She was kidnapped from her safe room in Kibbutz Nir Oz after her husband, Sa’id Moshe, was killed during the Hamas assault. Doron Katz Asher, 34; Raz Asher, 4; Aviv Asher, 2Image From left, Doron Katz Asher, Raz Asher, Aviv Asher.

Persons: —, Kibbutz Nir Oz, Keren Munder, Munder, Ruth Munder, Munder Zichri, Avi Zichri, Ohad Munder, Ruth, Abraham Munder, Nir Oz, Abraham’s, Roee, Ohad, Abraham, Keren, Danielle Aloni, Amelia Aloni, Amelia, Aloni’s, Sharon Cunio, Sharon, David Cunio, Emma, Yuli, ”, Aloni, Adina Moshe, Adina Moshe Credit, Moshe, Sa’id Moshe, Naama Ben, Moshe’s, ” Yaffa, Adar, Tamir Adar, Hanna Katzir, Hanna, Katzir, Katzenellenbogen, Elad Katzir, Rami, Hanna Peri, Hanna Peri Credit, Peri, Ms, Margalit Moses, Margalit Moses Credit, Moses, Doron Katz Asher, Raz Asher, Aviv Asher, Katz Asher, Raz, Katz, Yoni Asher, Asher, Khan Younis, ” Mr Organizations: Nirim, Reuters, Associated Press, Associated, Credit Locations: Tel Aviv, Gaza, Israel, Ruth Munder ., Kfar Saba, Palestinian, Nirim, South Africa, Norway, Mozambique, “

GEORGE TOWN, Cayman Islands (AP) — Angel Reese didn't make the trip to the Cayman Islands with No. It's still unclear when the All-American, who has missed the last three games, will be back with the Tigers,“You will know when she comes back,” LSU coach Kim Mulkey said about Reese following the Tigers' 99-65 win over Niagara on Friday at the Cayman Islands Classic. “Obviously she’s not with us.”The Tigers were also missing Kateri Poole, who had appeared in four games this season and averaged 12.8 minutes. Political Cartoons View All 1265 ImagesAneesah Morrow had 28 points and 10 rebounds to lead LSU to the easy win. That makes me feel good.”BIG PICTUREMuch of the attention over the past week has focused on Reese, who is averaging a team-leading 10.3 rebounds.

Persons: GEORGE, — Angel Reese didn't, she's, It's, Kim Mulkey, Reese, ”, Kateri Poole, Mulkey, Aneesah Morrow, Hailey Van Lith, Mikaylah Williams, Flau’jae Johnson, Sa’Myah Smith, “ We’ll, ” Mulkey, ” Johnson, “, ___ Organizations: LSU, Tigers, ” LSU, Niagara, Cayman, Purple Eagles, UCLA, Saturday LSU, Virginia, AP, womens Locations: Cayman Islands, Niagara

Twelve of those newly released were among the roughly 75 people who had been kidnapped from Kibbutz Nir Oz on Oct. 7. Ruth is a retired hairdresser and seamstress, according to Kibbutz Nir Oz. Danielle Aloni; Amelia Aloni, 5Danielle Aloni and her daughter Amelia were taken hostage while visiting Ms. Aloni’s sister, Sharon Cunio, a resident of Kibbutz Nir Oz. She was kidnapped from her safe room in Kibbutz Nir Oz after her husband, Sa’id Moshe, was killed during the Hamas assault. Hanna Katzir, 76Ms. Katzir helped oversee child care in Kibbutz Nir Oz for many years, according to a niece, Dalit Katzenellenbogen, who lives in Tel Aviv.

Persons: —, Kibbutz Nir Oz, Keren Munder, Munder, Ruth Munder, Ohad Munder, Ruth, Abraham Munder, Nir Oz, Abraham’s, Roee, Ohad, Abraham, Keren, Danielle Aloni, Amelia Aloni, Amelia, Aloni’s, Sharon Cunio, Sharon, David Cunio, Emma, Yuli, ”, Aloni, Adina Moshe, Moshe, Sa’id Moshe, Naama Ben, Moshe’s, ” Yaffa, Adar, Tamir Adar, Hanna Katzir, Katzir, Katzenellenbogen, Elad Katzir, Rami, Hanna Peri, Peri, Ms, Margalit Moses, Moses, Doron Katz Asher, Raz Asher, Aviv Asher, Katz Asher, Raz, Efrat Katz, Katz, Yoni Asher, Asher, Khan Younis Organizations: Nirim Locations: Tel Aviv, Gaza, Israel, Kfar Saba, Palestinian, Nirim, South Africa, Norway, Mozambique

☆ Rio police investigate Taylor Swift concert organizers after fan's death
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

A couple protect themselves with an umbrella for high temperatures, as they wait before the Taylor Swift concert, following the death of a fan due to the heat during the first day concert, in Rio de Janeiro, Brazil, November 18, 2023. The police will investigate whether entertainment firm Time for Fun (T4F) (SHOW3.SA) committed the crime of endangering human life or health. Ana Clara Benevides fell ill last Friday, on the first night of Swift's Rio tour in Rio, and later died in hospital. Police have also launched a separate investigation into the cause of Benevides' death, which has not yet been concluded. The firm's CEO Serafim Abreu acknowledged on Thursday that the concert organizers could have taken "alternative actions" to help fans cope with the extreme heat.

Persons: Taylor Swift, Pilar Olivares, Taylor, Ana Clara Benevides, T4F, Serafim Abreu, Swift, Rodrigo Viga Gaier, Marguerita Choy Organizations: REUTERS, DE, Police, T4F, Thomson Locations: Rio de Janeiro, Brazil, DE JANEIRO, Rio, U.S, Sao Paulo

All but one were abducted from the Nir Oz kibbutz, according to spokespeople for the kibbutz and the Hostages and Missing Families Forum. Eleven foreign nationals were also released alongside the Israeli hostages: 10 Thai citizens and one Filipino citizen, according to a Qatar Foreign Ministry spokesperson. Here’s what you need to know about the released hostages:Yafa Adar, 85Adar is a founder of the Nir Oz kibbutz and is the oldest person to be taken hostage on October 7. Now Daniel and Emilia are on their way to Israel,” the Hostages and Missing Families Forum said in a statement. “She has diabetes, and suffers severe vision loss in one of her eyes,” said the Hostages and Missing Families Forum in a statement.

Persons: Nir, “, Daniel Hagari, Hagari, Yafa, Kibbutz Nir Oz, Tamir Adar, Nir Oz, Margalit Moses, ”, Hana Katzir, Rami Katzir, Elad, Nir Oz’s, Adina Moshe, David, Sa’id, Moshe, Ruth Munder, Keren, Ohad, Roee, Avraham, Ruth, Keren Munder, Ohad Munder, Munder “, Daniel Aloni, Emilia Aloni, Emilia, Sharon Aloni, “ Daniel, Daniel, Doron Katz Asher, Raz Asher, Aviv Asher, Doron, Efrat Katz, Ganot Hadar, Dori Roberts, Efrat, Roberts, Channa Peri, Peri Organizations: CNN, Gaza, Qatar Foreign Ministry, Israel Defense Forces, Hamas, Raz Locations: Israel, Hatzarim Airbase, Gaza, Hatzerim Airbase, Mozambique, Aviv, Ganot, Kibbutz Nirim, South Africa

☆ Morning Bid: Watching what the ECB giveth
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Vidya Ranganathan. The forward-looking flash November PMIs due out globally should help investors assess recession risks and how quickly rate cuts will begin. Interest rate futures show the market is pricing in rate cuts by April and more aggressively so in June . Later on Thursday, Sweden's central bank will announce its latest policy decision in what is expected to be a very close call on whether to hike again. A Reuters poll showed 10 of 19 economists looked for a rise, while market pricing is leaning against a move.

Persons: Vidya Ranganathan, haven't, Mario Centeno, Joachim Nagel's, Christine Lagarde's, Jeremy Hunt's, Van Haaren, ECB's Isabel Schnabel, Robert Holzmann, Francois Villeroy de, Edmund Klamann Organizations: Vidya, European Central, PMI, ECB, Reuters, Ubezpieczen SA, Virgin Money, Bank of France, Thomson Locations: Japan, United States, Britain, U.S, Sweden's

☆ Gold gains as weaker U.S. dollar, yields lift demand
▼ + stars: | 2023-11-23 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. arranged in Budapest, HungaryGold prices rose on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker U.S. dollar and lower Treasury yields buoyed demand for bullion. The dollar was down 0.1% against its rivals after gains in the last two sessions, making gold less expensive for other currency holders. The benchmark U.S. 10-year Treasury yields fell to a two-month low on Wednesday. Lower interest rates decrease the opportunity cost of holding gold.

Persons: Kelvin Wong, CME's Organizations: Heraeus SA, Solar, U.S, U.S ., Asia Pacific, . U.S, U.S . Federal Reserve, Fed Locations: Budapest, Hungary, ., OANDA

☆ Organisers of Taylor Swift's Rio shows say they could have taken 'alternative actions'
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Pilar Olivares/File Photo Acquire Licensing RightsSAO PAULO, Nov 23 (Reuters) - Organisers of the Brazilian leg of Taylor Swift's "The Eras Tour" acknowledged on Thursday they could have taken more measures to help fans cope with the extreme heat they faced last week in Rio de Janeiro. T4F's (SHOW3.SA) statement follows a last-minute postponement of Swift's performance last Saturday in Rio due to record breaking heat after a fan died in the sweltering conditions a day earlier. "We recognise we could have taken some alternative actions in addition to all the others we have done," T4F Chief Executive Serafim Abreu said in a video posted on social media. On the first night of Swift's tour in Rio last Friday, 23-year-old Ana Clara Benevides fell ill and later died in hospital. The extreme conditions led the U.S. pop star to postpone her concert the following day just two hours before she was to go on stage.

Persons: Taylor Swift, Pilar Olivares, Taylor, Serafim Abreu, Ana Clara Benevides, Abreu, Nilton Santos, Ana Clara, Ana Clara's, Swift, Gabriel Araujo, Sharon Singleton Organizations: REUTERS, SAO PAULO, Nilton, T4F, Thomson Locations: Rio de Janeiro, Brazil, Rio, U.S, Sao Paulo

☆ Goldman just upgraded this mining stock and sees 25% upside after turnaround
▼ + stars: | 2023-11-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Several tailwinds that have not been in place for a decade now make the Brazilian mining giant Vale SA too attractive to ignore, according to Goldman Sachs. Goldman upgraded Vale to buy on Tuesday and raised its stock price target by 60% to $19.50, implying nearly 25% upside from the stock's $15.65 close on Monday. Goldman forecasts iron ore prices of $110 per ton next year and estimates that Vale is internally pricing in a $104 per ton price. "We believe the story is now too attractive to ignore and investors will slowly increase exposure as confidence around iron ore supply/demand balance in 2024 increases," analyst Marcio Farid wrote. The investment bank also expects ongoing policy support in China The key downside risks are weaker-than-expected iron ore prices in 2024 and less policy support in China to back up its ailing property market, according to Goldman.

Persons: Goldman Sachs, Goldman, bearish, Marcio Farid, Vale Organizations: Vale SA, Vale, Goldman Locations: China

☆ Petrobras CEO replacement being discussed within Brazil gov't, sources say
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

President Luiz Inacio Lula da Silva has shown dissatisfaction with certain actions taken by CEO Jean Paul Prates. Lula asked the CEO to tweak Petrobras' investment plan to prioritize local job creation, Reuters reported last week. "There should be changes" in the presidency of Petrobras, one of the sources said. Last week, Mines and Energy Minister Alexandre Silveira said it was past time for Petrobras to reduce diesel and gasoline prices at its refineries. Reporting by Sabrina Valle and Lisandra Paraguassu; Writing by Peter Frontini; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Jean Paul Prates, Lula, Prates, Alexandre Silveira, Sabrina Valle, Lisandra, Peter Frontini, David Gregorio Our Organizations: Petroleo Brasileiro SA Petrobras, HOUSTON, Petrobras, PETR4, Reuters, Mines, Energy, Thomson Locations: BRASILIA

☆ Shares in Argentina's YPF soar as Milei hints at privatization
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsCompanies Ypf Sa FollowRepsol SA FollowBUENOS AIRES, Nov 20 (Reuters) - New York-traded shares in Argentine state-run oil company YPF soared more than 40% on Monday after President-elect Javier Milei said he would seek to privatize the firm. The South American country nationalized 51% of the oil company more than a decade ago from Spain's Repsol (REP.MC). YPF is Argentina's largest oil firm and oversees development of Vaca Muerta, the world's second-largest shale gas reserve and fourth-largest shale oil reserve. Shares of YPF jumped more than 40% early in the session, before paring some gains to trade up 35.2%. Global X analyst Trevor Yates said the YPF gains were related to the increasing likelihood of it being privatized and implementing an international price parity policy.

Persons: Alberto Fernandez, Cristina Fernandez de Kirchner, Agustin Marcarian, Javier Milei, Sergio Massa, YPF, Milei, Spain's, Vaca Muerta, Trevor Yates, Yates, Eliana Raszewski, Bansari Mayu, Grant McCool Organizations: Argentine, REUTERS, Global, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, New York, Argentine, American

☆ Have to be 'clever' with product mix to attract Chinese tourist customers: Sa Sa CFO
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHave to be 'clever' with product mix to attract Chinese tourist customers: Sa Sa CFOSa Sa International's CFO Danny Ho explains how the beauty product retailer is trying to attract Mainland Chinese customers as they return to Hong Kong with changed spending habits.

Persons: Sa, Sa Sa, Danny Ho Locations: Hong Kong

☆ Taylor Swift fans gather for cooler Rio show after fan’s death
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +2 min

A girl poses next to a photo of singer Taylor Swift, before a concert, following the death of a fan due to the heat during the first day concert, in Rio de Janeiro, Brazil, November 18, 2023. REUTERS/Pilar Olivares Acquire Licensing RightsRIO DE JANEIRO, Nov 19 (Reuters) - Taylor Swift fans headed to her eagerly expected show in Rio de Janeiro on Sunday, the first concert since a fan died in sweltering conditions that led to a last-minute postponement of Saturday’s performance. Fans outside the Nilton Santos stadium were apprehensive after the previous night’s postponement but expected the show to go ahead. Saturday’s postponement, which Swift announced just two hours before she was on stage, angered many fans who had already made the journey, some from different states and countries, to the stadium. Reporting by Sergio Queiroz, Writing by Marcela Ayres, Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Taylor Swift, Pilar Olivares, Nilton Santos, Iasmin Moreira Oliveira, Ana Clara Benevides, T4F, Swift, Victor Guimaraes, Sergio Queiroz, Marcela Ayres, Chris Reese Organizations: REUTERS, DE, Nilton, National Institute of Meteorology, Thomson Locations: Rio de Janeiro, Brazil, DE JANEIRO, Rio

☆ Fan dies at Taylor Swift show in sweltering Rio de Janeiro
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +3 min

RIO DE JANEIRO, Nov 18 (Reuters) - A young Brazilian fan of U.S. singer Taylor Swift died in Rio de Janeiro on Friday night after falling ill inside the superstar's sweltering concert venue amid a record-breaking heatwave across large swathes of Brazil, prompting the government to mandate the provision of water during the tour. Swift said Benevides died "before my show" but Benevides' friends told local media that she became ill after the concert began. Swift is scheduled to perform in Rio on Saturday and Sunday followed by three shows in São Paulo between November 24 and 26. On Thursday, Rio's Christ the Redeemer statue welcomed Swift to town ahead of her first set of concerts. The more serious version is heat-stroke, when the body's core temperature goes above 105 degrees Fahrenheit (40.6 degrees Celsius).

Persons: Taylor Swift, Ana Clara Benevides, Nilton Santos, T4F, Salgado, Swift, Benevides, I'm, Flavio Dino, Wadih Damous, Rio's, Marcela Ayres, Gabriel Stargardter, Jason Neely, Diane Craft Organizations: RIO DE, Nilton, Hospital, Justice, Twitter, National Consumer, Thomson Locations: RIO DE JANEIRO, Brazilian, Rio de Janeiro, Brazil, Rio, São Paulo

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. Lula told Prates that Petrobras should commission 25 ships to be built in Brazilian shipyards, instead of the four currently planned. When asked for comment, Petrobras referred Reuters to a Nov. 8 statement, in which it said it is still finalizing its investment plan. Last week, Reuters reported that Petrobras' plan will include around $100 billion in investments that the firm is both analyzing and those it has already committed to. In the previous 2023-2027 plan, Petrobras projected $78 billion in investments.

Persons: Sergio Moraes, Luiz Inacio Lula da Silva, Jean Paul Prates, Prates, Lula, Brazil's, Sabrina Valle, Lisandra Paraguassu, Rodrigo Viga Gaier, Marta Nogueira, Fabio Teixeira, Roberto Samora, Gabriel Stargardter, Marguerita Choy Organizations: REUTERS, HOUSTON, RIO DE, Petrobras, PETR4, Reuters, Thomson Locations: Rio de Janeiro, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Brasilia, Mato Grosso, Sul, Petrobras

☆ Worried about Western jets, Russia is likely to risk its early warning planes near the front lines to give its formidable S-400s an edge, intel says
▼ + stars: | 2023-11-17 | by ( Natalie Musumeci | Jake Epstein | ) www.businessinsider.com time to read: +5 min

Russia has likely started using its valuable early warning planes in the Ukraine war, UK intel said. British intelligence said Moscow may be worried about Kyiv deploying Western fighter jets. Russia will likely "accept more risk" by flying A-50 Mainstay D aircraft close to the front line, the group said. "This adds to Mainstay's core mission of co-ordinating fighter aircraft," the intelligence update said. The Beriev A-50 Photo by Sefa Karacan/Anadolu Agency via Getty ImagesAny potential concern over Western fighter jets comes as Ukrainian pilots and personnel are training on how to fly and maintain American-made F-16 fighter jets.

Persons: —, Wojciech Grzedzinski, Sefa Karacan, they're Organizations: intel, Western, Service, Anadolu Agency, Getty, Russia, US, Patriot Locations: Russia, Ukraine, British, Moscow, Kyiv, Kostiantynivka, Britain, Europe

☆ Boeing chief strategy officer to depart in 2024 as part of restructuring
▼ + stars: | 2023-11-16 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - Marc Allen will step down as Boeing's (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill the chief strategy officer role going forward. Boeing will shrink its strategy and corporate development organization and instead have "strategy teams directly joining the business units they support," Calhoun said. Chief Financial Officer Brian West and Mike D’Ambrose, the company's top human resources official, will create a realignment plan for the strategy unit over the next month, Calhoun said.

Persons: Sao Jose dos Campos, Gabriel Araujo, Marc Allen, planemaker, David Calhoun, Calhoun, Brian West, Mike D’Ambrose, Allen, Valerie Insinna, Tim Hepher, Chris Reese, Bill Berkrot Organizations: Boeing, REUTERS, Rights, Embraer, EMBR3, Airbus, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, U.S, China

☆ Britain to boost offshore wind auction power price guarantees by 66%
▼ + stars: | 2023-11-16 | by ( Susanna Twidale | ) www.reuters.com time to read: +2 min

Companies Iberdrola SA FollowLONDON, Nov 16 (Reuters) - Britain will increase the guaranteed price offered for offshore wind projects in its next renewables auction by 66%, the government said on Thursday, as it seeks to spur more projects after its last auction failed to attract any offshore wind investment. Britain, which is already the world’s second largest offshore wind market after China, is seeking to ramp up its capacity to 50 gigawatts (GW) by 2030 from around 14 GW now, to help meet its climate targets and boost energy security. The offshore wind sector has been hit by surging supply chain and interest rate costs over the past year with some developers cancelling projects, while Britain's last auction yielded no offshore wind projects when the results were announced in September with developer saying the price offered was too low. The government said despite the absence of offshore wind, the last auction had succeeded in supporting other technologies such as solar, tidal and onshore wind projects capable of generating 3.7 GW, the equivalent to powering some 2 million homes. “The real test of that ambition will come when the overall budget for the next auction round is set next year.

Persons: Claire Coutinho, ”, ” Keith Anderson, ScottishPower, Susanna Twidale, Marguerita Choy Organizations: ” Energy, Thomson Locations: Britain, China

☆ Global dividends slide in Q3 as miners drag
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 15 (Reuters) - Global dividends fell 0.9% to $421.9 billion in the third quarter due to lower special dividends and a small number of corporations making large cuts to investor remuneration, a report showed on Wednesday. Janus said total dividends were slightly better than expected in the quarter despite lower one-off special payouts and exchange rate effects. "Special dividends have decreased, reflecting less M&A activity and the disappearance of windfall profits in sectors like mining," he added. The largest cuts to payouts were made by Brazilian oil group Petrobras (PETR4.SA) and Australian miner BHP (BHP.AX). More than half of mining companies reduced their payouts while 89% of companies overall raised their dividends or held them during the period, the report said.

Persons: Janus Henderson, Janus, Ben Lofthouse, Banks, Danilo Masoni, Elaine Hardcastle Organizations: MILAN, Petrobras, PETR4, BHP, Chemicals, China Construction Bank Corp, China Mobile, HK, Thomson Locations: Brazil, Taiwan, Czech, Asia, PetroChina, Europe

☆ Brazil food processor BRF widens net loss in Q3 on grain prices, chicken glut
▼ + stars: | 2023-11-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba, Brazil October 1, 2019. BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss. Despite the hit, BRF said improvements in the company's operating performance were already showing results. BRF also said net revenue was 13.8 billion reais in the quarter, nearly the same as in the year-ago period. BRF said EBITDA came in at 1.2 billion reais ($244.45 million), slightly above LSEG consensus estimates of 1.17 billion reais.

Persons: Rodolfo Buhrer, BRF, Miguel Gularte, EBITDA, Ana Mano, Kylie Madry Organizations: meatpacker BRF, REUTERS, SAO PAULO, BRF SA, Management, JBS SA, Thomson Locations: Curitiba, Brazil, U.S

☆ U.S. set to clear Paraguayan beef exports, says Brazil meatpacker
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 13 (Reuters) - Brazilian meatpacker Minerva (BEEF3.SA) said on Monday it has been informed by Paraguayan authorities of the approval of a health protocol set to open the U.S. market for Paraguayan beef exports. Minerva, which owns four plants in Paraguay, said in a securities filing only final bureaucratic procedures are now required for the exports to be effectively cleared. "That's an important step for the country's beef producers and could open opportunities in other markets that follow similar sanitary standards," the Brazilian company said. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Minerva, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, BEEF3, Minerva, Thomson Locations: Paraguay

☆ Brazil's Localiza sees Q3 profit up 57% on fleet management demand
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

Companies Localiza Rent a Car SA FollowSAO PAULO, Nov 13 (Reuters) - Brazilian car rental firm Localiza (RENT3.SA) said on Monday it recorded a 56.9% growth in third-quarter profit, in line with analysts' estimates as its fleet management business grew. The firm posted a net profit of 664.7 million reais, compared to the consensus estimate of analysts polled by LSEG of 664.52 million reais. Net revenue for Localiza's fleet management division, which rents out and services entire fleets of vehicles to clients, grew 49.2% from the year-ago quarter to 1.73 billion reais. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter reached 2.68 billion reais, up 12.5% from a year earlier. Reporting by Peter Frontini; Editing by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Frontini, Kylie Madry Organizations: SAO PAULO, Thomson

☆ Petrobras' five-year plan could include around $100 billion in projects - source
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo Acquire Licensing RightsCompanies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, Nov 10 (Reuters) - Brazil's state-run oil company Petrobras' upcoming five-year business plan will include around $100 billion in investments the firm is both analyzing and those it has already committed to, a source familiar with the matter told Reuters on Friday. The plan for the 2024-2028 period will be finalized over the next few weeks, with publication expected at the end of this month, the source said. In the previous 2023-2027 period, Petrobras projected $78 billion in investments. The figures are still being approved and could change, the source said, with pitched projects including renewable energy investments.

Persons: Sergio Moraes, Marta Nogueira, Steven Grattan, Kylie Madry Organizations: REUTERS, Petroleo Brasileiro SA Petrobras, RIO DE, Petrobras, Reuters, Thomson Locations: Rio de Janeiro, Brazil, RIO DE JANEIRO

☆ US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
▼ + stars: | 2023-11-10 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

The decline in cattle numbers, after years of drought fried pasture lands used for grazing, led to soaring U.S. beef prices. Higher prices incentivize companies to import cheaper beef and discourage U.S. beef purchases by buyers like China, Japan and Egypt. For Tyson, the loss of U.S. export business compounds margin pressure from higher cattle prices, Goldman Sachs analysts said. U.S. beef exports typically command higher margins than domestic shipments, they said. The USDA on Thursday raised its forecasts for beef imports in 2023 and 2024 in a monthly report.

Persons: Amira Karaoud, world's, Tyson, Cargill, Pete Bonds, Bonds, Goldman Sachs, Donnie King, Katelyn McCullock, McCullock, Derrell, Tom Polansek, Rod Nickel Organizations: Corydon , Indiana U.S, REUTERS, Rights, Tyson, U.S . Department of Agriculture, USDA, U.S ., U.S, Marketing, Center, Oklahoma State University, Thomson Locations: Corydon , Indiana, United States, China, Japan, Egypt, Texas, U.S, Tyson's, Florida, South Carolina, Australia, New Zealand, Paraguay, Paraguayan, Mexico

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