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☆ Volkswagen to invest $193 bln over 5 years to help meet EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowBERLIN, March 14 (Reuters) - Volkswagen (VOWG_p.DE) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to decline from 2025. In the latest plan, 15 billion euros is ringfenced for battery plants and raw materials and 2 billion euros will be put toward a plant in North Carolina for its Scout brand. Later on Tuesday, Volkswagen is also expected to share the results of a 'virtual equity story' exercise instigated by Blume. On Monday, Volkswagen announced its first battery cell plant outside of Europe would be in Canada, with production to start from 2027. ($1 = 0.9338 euros)Reporting by Victoria Waldersee, Editing by Rachel More and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Schwedt has traditionally supplied 90% of the gasoline, diesel, jet fuel and fuel oil used in Germany's capital city. Moscow last month retaliated against their bilateral efforts by halting oil flows to Poland via the Druzhba pipeline, thereby squeezing Poland’s ability to free up oil for Schwedt. Polish state-controlled refiner PKN Orlen now needs to use more capacity at the Gdansk oil terminal to feed its own Plock refinery. ROSNEFT STAKEGermany and Poland started discussions about shipping non-Russian oil to Schwedt via the port of Gdansk, Polish pipelines and Druzhba in early spring 2022. KEBCOIn a move that further complicated talks with Poland, Germany late last year approached Kazakhstan about supplies for Schwedt, sparking new concerns in Warsaw.

☆ Leaders of Armenia, Azerbaijan set for first meeting since October
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - The leaders of Armenia and Azerbaijan are set to meet for the first time since October at trilateral talks with U.S. Secretary of State Antony Blinken in Munich on Saturday, the U.S. State Department said. The U.S. State Department said Blinken would meet Armenian Prime Minister Nikol Pashinyan and Azerbaijan President Ilham Aliyev at 1235 GMT. Armenia has sent Azerbaijan a draft proposal for a peace settlement, Pashinyan said this week. Azeri civilians identifying themselves as environmental activists have been facing off since Dec. 12 with Russian peacekeepers on the Lachin corridor. Saturday's meeting would be the two leaders' first face-to-face encounter since late October, when Russian President Vladimir Putin hosted talks in the Black Sea city of Sochi.

☆ North Korean Parade Puts Missile Production Prowess on Display
▼ + stars: | 2023-02-09 | by ( Dasl Yoon | ) www.wsj.com time to read: +5 min

North Korea has never showcased that many nuclear missiles at one time. The Wednesday parade suggested North Korea was expanding its stockpile of nuclear missiles that threaten the U.S. and its allies’ missile defense systems. North Korea has been developing solid-fueled ICBMs that require less preparation time to launch. North Korean state media didn’t report on any remarks by Mr. Kim, who has skipped speeches at previous military parades. “The main objective of Wednesday’s military parade is to show North Korea’s growing missile capability to strike the U.S. mainland,” said Park Won-gon, a professor of North Korean studies at Ewha Womans University.

☆ Pakistan, IMF open talks to unlock crucial funding - ministry
▼ + stars: | 2023-01-31 | by ( Asif Shahzad | ) www.reuters.com time to read: +1 min

ISLAMABAD, Jan 31 (Reuters) - Cash-strapped Pakistan on Tuesday began the much-waited talks with the International Monetary Fund (IMF) to unlock stalled funding, the country's finance ministry said. Pakistan secured a $6 billion IMF bailout in 2019, which was topped up with another $1 billion last year. Unlocking the funding is crucial for the South Asian economy as its foreign exchange reserves have dropped to cover just three weeks of imports. The IMF delegation is led by mission chief Nathan Porte, while Pakistan's Finance Minister Ishaq Dar led his team. It said the teams discussed and reviewed the economic and fiscal policies and reforms agenda to accomplish the ninth review.

☆ Ukraine repels attacks in eastern region while Russia’s Wagner claims to have taken a village
▼ + stars: | 2023-01-29 | by ( ) www.nbcnews.com time to read: +2 min

Ukraine’s military said on Sunday its forces repelled an attack in the area of Blahodatne in the eastern part of the Donetsk region, while Russia’s Wagner private military group said it took control of the village. It added that its forces repelled Russian attacks in the areas of 13 other settlements in the Donetsk region. The Wagner Group, designated by the United States as transnational criminal organization, said on the Telegram messaging app on Saturday that its units had taken control of Blahodatne. Ukrainian soldiers stand atop on APC before going to the frontline in Donetsk region, eastern Ukraine, on Saturday. The Wagner Group has made premature success claims before.

☆ Ukraine says repels attack around Blahodatne while Russia's Wagner claims control
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +2 min

Jan 29 (Reuters) - Ukraine's military said on Sunday its forces repelled an attack in the area of Blahodatne in the eastern part of the Donetsk region, while Russia's Wagner private military group said it took control of the village. It added that its forces repelled Russian attacks in the areas of 13 other settlements in the Donetsk region. The Wagner Group, designated by the United States as transnational criminal organisation, said on the Telegram messaging app on Saturday that its units had taken control of Blahodatne. The Wagner Group has made premature success claims before. Ukraine has said that the Russian offensive on Bakhmut has not culminated, but the situation along the front line there has been growingly difficult.

☆ Ukraine says it repels attack around Blahodatne while Russia's Wagner claims control
▼ + stars: | 2023-01-29 | by ( ) www.cnbc.com time to read: +2 min

A mural praises the Russian Wagner group and its mercenaries fighting in Ukraine on March 30, 2022 in Belgrade, Serbia. Ukraine's military said on Sunday its forces repelled an attack in the area of Blahodatne in the eastern part of the Donetsk region, while Russia's Wagner private military group said it took control of the village. It added that its forces repelled Russian attacks in the areas of 13 other settlements in the Donetsk region. The Wagner Group, designated by the United States as a transnational criminal organization, said on the Telegram messaging app on Saturday that its units had taken control of Blahodatne. The Wagner Group has made premature success claims before.

Ukraine has won promises of Western battle tanks and is seeking fighter jets to push back against Russian and pro-Moscow forces, which are slowly advancing along part of the front line. Zelenskiy, speaking separately, said Ukraine wanted to preempt Russian attacks on Ukrainian urban areas and civilians. Earlier in the day, the Ukrainian air force denied a newspaper report that it intended to get 24 fighter jets from allies, saying talks were continuing, Ukraine's Babel online outlet said. He also told Ukrainian national television that allied nations did not like public speculation about jets, Interfax Ukraine news agency said. Germany's defence minister this week ruled out the idea of sending jets to Ukraine.

☆ Southwest pilots, others to get bonus pay for working during meltdown
▼ + stars: | 2023-01-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Southwest Airlines has agreed to pay its pilots an estimated $45 million in bonus “gratitude pay” for working through the company’s service meltdown during the holiday travel period at the end of last year. Southwest has about 9,400 pilots. The estimated cost of their bonus pay was disclosed in a message from the Southwest Airlines Pilots Association to its membership saying the “gratitude pay” will be equal 50% of the pilots’ regular pay, excluding holiday pay, sick pay or vacation time. Southwest said the “gratitude” pay to employees is included in that estimate. About 83% of Southwest employees are represented by union groups, and the airline is currently in negotiations concerning seven separate contracts that cover most of those union members.

☆ Lebanon army shoots at Israeli drone - statement
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] United Nations peacekeepers (UNIFIL) stand together in Houla near the border with Israel, southern Lebanon January 13, 2023. REUTERS/Aziz TaherBEIRUT, Jan 13 (Reuters) - The Lebanese army said on Friday its troops shot at an Israeli drone that crossed into Lebanon's southern airspace, with a security source saying the drone was not brought down. Israel regularly flies military aircraft in Lebanon's airspace without permission but it is rare for troops to target them. The Lebanese army statement said a patrol was inspecting a separate incident in the south when a "drone belonging to the Israeli enemy violated Lebanese airspace," prompting troops to begin shooting in its direction. A Lebanese security source told Reuters they did not shoot it down.

☆ Ethio Telecom posts H1 growth in revenue, financial service subscribers
▼ + stars: | 2023-01-12 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +1 min

[1/2] Ethio Telecom employees serve a customer inside their call centre in the Bole neighborhood branch in Addis Ababa, Ethiopia July 29, 2022. REUTERS/Tiksa NegeriADDIS ABABA, Jan 12 (Reuters) - Ethiopia's state-owned Ethio Telecom on Thursday reported a 20% rise in half-year revenue to 33.8 billion birr ($633 million). Subscribers to its mobile phone-based financial service Telebirr, launched in May 2021, grew to 27.2 million out of its 70 million total subscribers, CEO Frehiwot Tamiru told a news conference. That was up from 21.8 million Telebirr subscribers in June 2022. Efforts to attract investment have been hampered, however, by a two-year war in the northern Tigray region, which has killed tens of thousands and displaced millions.

☆ Exclusive: Shell energy transition prompted talks to sell Norway business
▼ + stars: | 2023-01-10 | by ( Ron Bousso | ) www.reuters.com time to read: +3 min

SummarySummary Companies Shell, Harbour Energy held talks late last yearTalks included Norway, Italy and some UK assetsShell shifting focus to low-carbon, renewablesLONDON, Jan 10 (Reuters) - Shell (SHEL.L) held talks with Harbour Energy (HBR.L) to sell its Norwegian oil and gas fields last year but could not reach a deal due to gas price volatility and uncertainty over the long-term outlook, three company sources told Reuters. Shell and Harbour Energy declined to comment. Shell and ConocoPhillips (COP.N) are the last two oil majors to operate offshore fields in Norway, while TotalEnergies (TTEF.PA) only retains stakes in non-operated fields. Negotiations with Harbour Energy included Shell's assets in Norway and its small-scale operations in Italy and several ageing assets in the British North Sea, the sources said. Beyond oil and gas, Shell is involved in several major renewables and low-carbon projects in Norway including in offshore wind blocks, a biofuels plant and the Northern Lights carbon storage and use project.

☆ Congolese artist paints politicians' portraits in plastic
▼ + stars: | 2023-01-05 | by ( Crispin Kyala | ) www.reuters.com time to read: +2 min

[1/4] Congolese artist Patrick Cikuru Cirimwami applies finishing touches on portrait images of Congolese leaders, made from plastic waste, which he melts after collecting it near the banks of the Ruzizi I hydroelectric plant, in Bukavu, eastern Democratic Republic of Congo December 15, 2022. REUTERS/Crispin KyalangalilwaBUKAVU, Democratic Republic of Congo, Jan 5 (Reuters) - Near the banks of Lake Kivu in eastern Democratic Republic of Congo, artist Patrick Cikuru Cirimwami wades knee-deep through a mountain of plastic bottles, scooping as many as he can carry into a large sack. Later he will melt down the plastic to make a thick liquid which he uses to paint portraits of politicians - intended to be a condemnation of what he says is their inaction in protecting the environment. As a Congolese artist, I can send a message," said the 26-year-old. Congo, like other African nations, has insisted on its right to develop its economy by exploiting its vast natural resources.

☆ Conservative Peruvian groups march for peace ahead of fresh protests
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +3 min

[1/5] Demonstrators hold a giant national flag as they participate in a march asking for peace, after violent protests in the country, following the ousting and arrest of former President Pedro Castillo, in Lima, Peru January 3, 2023. People dressed in white carried Peru's flag at the march, which was organized by conservative groups. Former President Castillo, a leftist who was previously a teacher, attempted to illegally dissolve Congress in early December and was subsequently ousted and detained. There are millions of us who want peace and just a few vandals," said Monica Sanchez at the march. The government issued a state of emergency when violent protests first erupted in December, sending security forces into protest areas.

PESHAWAR, Pakistan — Afghanistan’s Taliban-run government on Saturday ordered all local and foreign nongovernmental organizations to prevent female employees from reporting to work, in the latest restrictive move against women’s rights and freedoms in the country. The order was made in a letter written in Persian by Economy Minister Qari Din Mohammed Hanif, Abdur Rahman Habib, a spokesman for Afghanistan’s Economic Ministry, told NBC News. Afghan women protest against a new Taliban ban on women accessing university education on Thursday in Kabul, Afghanistan. Getty ImagesForeign governments, including Muslim-majority Saudi Arabia and Turkey, condemned the university ban, which also led to criticism and protests inside Afghanistan. In the western city of Herat on Saturday, Taliban forces used water cannons to disperse women protesting the ban on university education, Reuters reported.

☆ Stocks making the biggest moves midday: Mission Produce, Nutanix, Alphabet, Tesla and more
▼ + stars: | 2022-12-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Energy — Energy stocks outperformed on the S&P 500 following a rise in oil prices, which jumped Friday on expectations of a drop in Russian crude supply. Biogen — The biotech stock declined fell slightly after Biogen's Japanese partner Eisai said a third person has died during a trial of their experimental Alzheimer's treatment, confirming Reuters reports. Carnival , Norwegian Cruise Line — Cruise line operators declined as fears of a recession weighed on consumer discretionary stocks, which was one of three worst performers in the S&P 500. Shares of Carnival were down more than 4%, while Norwegian Cruise Line was down more than 2%. Mission Produce — Shares of the avocado producer dropped more than 14% after the company reported financial results for its most recent quarter.

☆ The EU agreed to limit gas prices, but some analysts are skeptical
▼ + stars: | 2022-12-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Pipes run along a technical facility for compressing natural gas on the site of astora GmbH's Rehden natural gas storage facility, the largest in Western Europe. He flagged that it could disrupt the European energy market, risk security of supply and have wider financial implications. Analysts told CNBC that these conditions called into question the ability of the mechanism to limit energy price rises. Around 70% of liquefied natural gas (LNG) is tied up in long-term contracts, leaving 30% available on a spot basis. "As it stands, about 20% of Europe's electricity comes from natural gas, 10% comes from coal.

☆ Stocks making the biggest moves midday: Disney, Tesla, Mesa Air and more
▼ + stars: | 2022-12-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday Monday:Disney — Disney fell 3.6% after its film, "Avatar: The Way of the Water" fell short of box office expectations. The highly-anticipated movie brought in $134 million, less than the $175 million expected by analysts and under the $135 million to $150 million range Disney had forecast. Casino operators — Wynn Resorts fell 4.2%, while MGM Resorts lost 2.9% and Las Vegas Sands dropped 1.6%. Mesa Air Group — Shares of the airliner jumped 5% after Mesa Air announced it is finalizing a deal to run regional flights for United Airlines, while ending its partnership with American Airlines. Warner Music Group — Shares gained 2.5% following an upgrade to overweight from Atlantic Equities.

SummarySummary Companies Government met TIM's key shareholders CDP, Vivendi on ThursdayWants to spin off Sparkle, put it under state controlSparkle manages fibre cables that stretch over 500,000 kmROME, Dec 15 (Reuters) - Italy's government wants to bring Telecom Italia's (TLIT.MI) (TIM) submarine cable unit Sparkle into state hands, three sources close to the matter told Reuters. The plan emerged after the government on Thursday started talks with leading TIM investors Vivendi (VIV.PA) and state lender Cassa Depositi e Prestiti (CDP) to identify "the best market-friendly options" for the phone group. Prime Minister Giorgia Meloni's administration aims to secure control of TIM's landline grid, an asset deemed of strategic importance, to create a wholesale-only broadband player. But the sources added that Rome also wants a spin-off of Sparkle, given the sensitivity of the data it carries, in order to put the unit into state hands. The sources said there would at least be three more government-sponsored meetings with TIM's stakeholders, with one scheduled for Dec. 20.

☆ China’s Xi Jinping Pledges More Energy Deals With Gulf Producers
▼ + stars: | 2022-12-09 | by ( Stephen Kalin | ) www.wsj.com time to read: 1 min

RIYADH, Saudi Arabia—Chinese leader Xi Jinping used the last day of a visit to Saudi Arabia to pledge more energy deals with big Gulf oil producers, promising to buy more crude and start paying for some of it with Chinese currency. Using the Chinese currency, the yuan, for oil deals would chip away at the supremacy of the U.S. dollar, which used in most oil contracts around the world and underpins most Gulf state currencies. The Saudis and the Chinese accelerated talks around yuan purchases earlier this year as ties between Washington and Riyadh came under strain, The Wall Street Journal has reported. The Saudis on Friday declined to confirm they would carry out yuan oil deals.

☆ Peru's new president says she is open to early election talks
▼ + stars: | 2022-12-09 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, Dec 9 (Reuters) - Peruvian President Dina Boluarte on Friday said she was willing to discuss early elections with the country's political and civil organizations, but ruled out kick-starting constitutional changes for the time being. Early morning footage on local television showed hundreds of farmers blocking a stretch of Peru's main coastal highway demanding early elections. Later on Friday, Boluarte said she had received a call expressing support from Argentina's President Alberto Fernandez. [1/9] Peru's President Dina Boluarte speaks during a ceremony to commemorate the Day of the Peruvian Army and the anniversary of the Battle of Ayacucho, in Lima, Peru December 9, 2022. On Friday afternoon, Peru's foreign ministry summoned the Mexican ambassador and said statements by the country's leaders relating to the matter constituted an "interference in Peru's internal affairs."

☆ When China and Saudi Arabia meet, nothing matters more than oil
▼ + stars: | 2022-12-08 | by ( Laura He | ) edition.cnn.com time to read: +9 min

Saudi Arabia is China’s largest trading partner in the Middle East and the top global supplier of crude oil. Saudi Arabian Foreign Ministry/Anadolu Agency/Getty ImagesEnergy is coreLast year, bilateral trade between Saudi Arabia and China hit $87.3 billion, up 30% from 2020, according to Chinese customs figures. China’s crude imports from Saudi Arabia stood at $43.9 billion in 2021, accounting for 77% of its total goods imports from the kingdom. Beyond security of supply, Saudi Arabia could offer Beijing another prize with bigger geopolitical ramifications. Eurasia Group’s Kamal believes it’s “highly unlikely” that Saudi Arabia would take such a step, unless there is an implosion on the US-Saudi relationship.

☆ G7 makes new $15 billion offer to Vietnam to cut coal use -sources
▼ + stars: | 2022-12-07 | by ( Francesco Guarascio | ) www.reuters.com time to read: +2 min

HANOI, Dec 7 (Reuters) - The Group of Seven (G7) industrialised nations has made a new $15 billion offer to Vietnam to agree during a summit next week on funding to speed up its transition away from coal, three people familiar with the talks told Reuters. The offer has gradually expanded from an initial pledge of just $2 billion in public funds with undefined additional private support. It remains unclear whether Vietnam would be prepared to accept the increased offer, because its main concerns do not appear to have been addressed. One of the sources said there was a "50/50" chance of a deal next week. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Khanh Vu; Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Tax credits for EU electric vehicles to dominate U.S. trade talks
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: +2 min

U.S. Secretary of State Blinken attends the Freedom of Expression Roundtable, in New York, U.S., September 19, 2022. The European Union's top trade official on Monday called for urgent steps before the end of the year to modify a U.S. climate law that would cut off the bloc's electric vehicles from U.S. tax credits, calling the measure discriminatory. EU Trade Commissioner Valdis Dombrovskis, speaking to Deutsche Welle before a meeting of the U.S.-EU Trade and Technology Council (TTC) said the law threatened to undermine progress made by the year-old transatlantic forum. Dombrovskis said the EU was looking at how to make its own subsidies "more efficient" and potential increases in joint U.S.-EU financing. Participants include U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and European Commission Executive Vice Presidents Valdis Dombrovskis and Margrethe Vestager.

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