DIRS.INFO The most relevant business & tech news

☆ Oil jumps as Saudi Arabia and Russia extend supply cuts to end-2023
▼ + stars: | 2023-09-05 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

Riyadh's decision to extend its 1 million bpd voluntary cut will be reviewed monthly to consider whether to deepen the cut or increase production, state news agency SPA said on Tuesday. It has been cutting output and exports in tandem with Saudi Arabia on top of existing OPEC+ supply reductions. Russia had said it would cut oil exports voluntarily by 500,000 bpd, about 5% of its output, in August and by 300,000 bpd in September. Although Saudi Arabia was widely expected to extend its voluntary cuts into October, and Russia had indicated that it too planned on expanding its cut through next month, the three month extension was unexpected. Brent, which is used to price over three-quarters of the world's traded oil, has been rising since late June, after Riyadh first announced its voluntary cuts.

Persons: Nick Oxford, Alexander Novak, Craig Erlam, Brent, Natalie Grover, Katya Golubkova, Andrew Hayley, Sharon Singleton, Jason Neely, Jan Harvey, David Goodman, Alexandra Hudson Organizations: Midland , Texas U.S, REUTERS, Brent, West Texas, OPEC, Reuters, Alexandra Hudson Our, Thomson Locations: Midland , Texas, Saudi Arabia, Russia, U.S, Brent, Riyadh, London, Tokyo, Beijing

WASHINGTON, Sept 5 (Reuters) - The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender Signature Bank, it said on Tuesday. The majority of the portfolio comprises multi-family properties primarily located in New York City, the regulator said, adding that it would be marketing the asset over the next three months. Within the CRE portfolio is about $15 billion of loans secured by residences that are rent stabilized or controlled. New York City and State housing authorities, as well as community groups, are providing input to the FDIC as it begins marketing. The FDIC said it expects to complete any portfolio sales by the end of 2023.

Persons: Michelle Price, Pete Schroeder, David Goodman Organizations: U.S, Federal Deposit Insurance Corporation, Signature Bank, FDIC, York Community Bancorp, New, Thomson Locations: New York, New York City, State

☆ Ken Paxton Impeachment Trial for Texas’ Attorney General to Begin With Motions to Dismiss
▼ + stars: | 2023-09-05 | by ( J. David Goodman | David Montgomery | ) www.nytimes.com time to read: +12 min

“We want the entire MAGA movement to understand that what’s going on in Texas is not just about Texas,” Mr. Bannon told his podcast audience this month. Yet those conservative credentials may not be enough to help Mr. Paxton survive what promises to be the most significant test he has faced. A well-funded political action committee, Defend Texas Liberty, has begun targeting some Republican members of the Texas House who voted to impeach Mr. Paxton. Mr. Abbott has not commented on Mr. Paxton’s impeachment. Mr. Paxton won handily and went on to easily win a third term in the November election.

Persons: Ken Paxton, Paxton, Rick Perry, Karl Rove, George W, Bush, Steve Bannon, Trump, MAGA, ” Mr, Bannon, Donald J, Biden, Obama, Mr, Mike Osborne, they’ve, ”, David Simpson, “, ” Jonathan Stickland, Stickland, “ Glenn Rogers, Rogers, Nate Paul, Paul, general’s, Perry, Dave P, Paxton’s, Bryan Hughes, Eric Gay, ” Lauren Davis, Bannon’s, —, Texas —, Tim Dunn, Farris Wilks, Dunn, Wilks, Dan Patrick, Patrick, Greg Abbott, Abbott Organizations: Republican, State Senate, Democrat, Trump, Affordable, Mr, Jan, Republicans, Texas Legislature, Texas Capitol, ., The New York Times, Texas House, Defend Texas Liberty, Fort Worth, CBS, “, Senate, May ., Dallas County Republican Party, Fox News, West, Gov, Texans Locations: Texas, Austin, Georgia, United States, Paxton, Fort, May, West Texas

☆ Opel expects to offer electric vehicle for around 25,000 euros by 2026
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

MUNICH, Sept 4 (Reuters) - Stellantis-owned carmaker Opel will be able to offer an electric vehicle at a price of about 25,000 euros ($26,967) without incentives from around 2026, the brand's CEO said on Monday. "With purely electric platforms from Stellantis, we will be able to offer prices that will allow us to touch a far wider audience," Florian Huettl told reporters. ($1 = 0.9270 euros)Reporting by Gilles Guillaume Writing by GV De Clercq Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florian Huettl, Gilles Guillaume, David Goodman Organizations: Opel, GV, Thomson Locations: MUNICH, Stellantis

Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed by the OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia. Saudi Arabia's previous announcements have come ahead of its official selling prices, which typically emerge in the first week of the month. Russian Deputy Prime Minister Alexander Novak, meanwhile, has said that Moscow had agreed with OPEC+ partners on the parameters for continued export cuts in October. Saudi Arabia and Russia could withdraw the cuts at any point, said OANDA analyst Craig Erlam, "but I can't imagine they'll be in any rush and risk sending the price tumbling again." The oil market is vulnerable to price spikes due to low inventories and underinvestment in new oilfields, a senior official at global commodities trading firm Trafigura (TRAFGF.UL) said on Monday.

Persons: Alexander Novak, Craig Erlam, Brent, Russell Hardy, Xi, John Evans, Stephanie Kelly, Paul Carsten, Natalie Grover, Mohi Narayan, Yousef Saba, Andrew Hayley, Jason Neely, David Goodman, Mike Harrison Organizations: Companies, U.S . Federal, of, Petroleum, Saudi, . West Texas, . U.S, Federal, Thomson Locations: Companies Saudi Arabia, Russia, Saudi Arabia, OPEC, Moscow, India, Kuwait, Jizan, Oman, China, ., New York, London, New Delhi, Dubai, Beijing

☆ Hundreds more UK school buildings could be crumbling, says minister
▼ + stars: | 2023-09-04 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

LONDON, Sept 4 (Reuters) - Hundreds more school buildings in England might be crumbling and unsafe, Britain's Education Secretary Gillian Keegan said on Monday after authorities ordered 104 schools to shut buildings with old and weak concrete. The revelations of crumbling school buildings only days before the start of a new term has sparked anger among parents and teachers, representing a new political headache for Prime Minister Rishi Sunak ahead of an election expected next year. Keegan told BBC Radio that schools suspected to have RAAC would be inspected in the next two weeks, adding that "most of them won't have RAAC". When asked if there could be hundreds more schools, she acknowledged that "it could be hundreds". Sunak, meanwhile, said that 95% of the roughly 22,000 schools in England would not be affected.

Persons: Gillian Keegan, Rishi Sunak, Keegan, Sunak, Jonathan Slater, Sachin Ravikumar, Kylie MacLellan, Peter Graff, David Goodman Organizations: BBC Radio, Thomson Locations: England, Britain

☆ A Conservative Push to Save Ken Paxton
▼ + stars: | 2023-09-04 | by ( J. David Goodman | More About J. David Goodman | ) www.nytimes.com time to read: +1 min

With television ads and text messages, direct mail and billboards, supporters of the embattled Texas attorney general, Ken Paxton, have embarked on an escalating campaign of political pressure, backed by hard-right billionaires, aimed at trying to sway the outcome of Mr. Paxton’s upcoming impeachment trial. The targets of their efforts are narrow: the 19 Republican members of the State Senate who will act as jurors in the trial, set to begin on Tuesday, and decide whether allegations of corruption and abuse of power are serious enough to warrant permanently removing and barring Mr. Paxton from office. But the effort to save Mr. Paxton, who is seen by many hard-core conservatives as their legal standard-bearer, is also the latest proxy in the broader fight over the future direction of the party, both in Texas and nationally. It has drawn in a range of conservative figures on both sides, with Rick Perry, the former Texas governor, and Karl Rove, the political consultant to former President George W. Bush, arguing in support of the impeachment process, and Steve Bannon, the former Trump political adviser, lampooning it as a Democrat-inspired witch hunt.

Persons: Ken Paxton, Paxton, Rick Perry, Karl Rove, George W, Bush, Steve Bannon, Trump Organizations: Republican, State Senate, Democrat Locations: Texas

☆ France to ban disposable e-cigarettes, PM says
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +1 min

French Prime Minister Elisabeth Borne speaks during the MEDEF union summer forum "La Rencontre des Entrepreneurs de France, LaREF" at the Paris Longchamp Racecourse in Paris, France, August 28, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsPARIS, Sept 3 (Reuters) - France plans to ban disposable electronic cigarettes, French Prime Minister Elisabeth Borne said on radio station RTL on Sunday. So-called "puff" devices generate habits among young people that can lead to tobacco addiction, she added. However, the government does not plan to raise taxes on tobacco next year after an increase this year, the prime minister said. Reporting by Claude Chendjou Writing by Mimosa Spencer Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Elisabeth Borne, Benoit Tessier, “, ”, Borne, Emmanuel Macron, Claude Chendjou, Mimosa Spencer, David Goodman Organizations: French, Entrepreneurs de France, Paris, Paris Longchamp Racecourse, REUTERS, Rights, RTL, Thomson Locations: Paris Longchamp, Paris, France

☆ Texas Supreme Court Allows Transgender Medical Ban to Begin
▼ + stars: | 2023-09-01 | by ( J. David Goodman | More About J. David Goodman | ) www.nytimes.com time to read: +1 min

The NewsThe Texas Supreme Court allowed a new law banning transition care for transgender minors to go into effect on Friday, halting a range of medically-accepted treatments, including hormones and puberty blockers, in the nation’s most populous Republican-led state. But that decision was immediately appealed by the attorney general to the Texas Supreme Court, an action that prevented the lower court’s injunction from taking effect. The request was made by the plaintiffs, including transgender minors, their parents and several rights groups, including Lambda Legal and the American Civil Liberties Union of Texas. The law was passed by the Republican-dominated Texas Legislature earlier this year and was signed by Gov. It prohibits doctors from prescribing certain medications and from performing mastectomies or other surgical procedures as part of a gender transition for minors.

Persons: Greg Abbott Organizations: The, Supreme, Republican, Texas Supreme, Lambda Legal, American Civil Liberties Union of Texas, Texas Legislature, Gov Locations: Texas

☆ Huawei and Alibaba among companies seeking Chinese deepfake approvals
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 1 (Reuters) - China's cyberspace regulator has received 110 applications from Chinese technology companies such as Huawei (HWT.UL) and Alibaba (9988.HK) for approvals related to models that can be used to manipulate visual and audio data. This approval process is separate from the CAC's regulation of Chinese tech firms looking to push out generative artificial intelligence (AI) products, which have been in high demand ever since the success of U.S. firm OpenAI's ChatGPT. Five Chinese tech firms, including Baidu Inc (9888.HK) and SenseTime Group (0200.HK), on Thursday launched AI chatbots to the public after receiving government approval. Reporting by Eduardo Baptista, Josh Ye, and Brenda Goh Editing by David Goodman and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, OpenAI's, chatbots, Eduardo Baptista, Josh Ye, Brenda Goh, David Goodman, Mark Potter Organizations: Artificial Intelligence, REUTERS, Rights, Huawei, HK, Cyberspace Administration of China, CAC, Baidu Inc, SenseTime, Thomson Locations: Shanghai, China, Rights BEIJING

☆ Direct Line faces $38 million redress bill for overcharging customers
▼ + stars: | 2023-09-01 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Signage for the FCA (Financial Conduct Authority), the Britain's financial regulatory body, is seen at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - British insurer Direct Line (DLGD.L) has agreed to review overcharging of existing home and motor customers totalling about 30 million pounds ($38 million) for policy renewals, the Financial Conduct Authority (FCA) said on Friday. "Direct Line Group will carry out a review to identify all instances where a customer has been overcharged and provide appropriate redress," the FCA said in a statement. "As a result, those customers have paid a renewal price higher than they should have," Direct Line said. Earlier this week, Direct Line named a new CEO as it seeks to reset after profit fell by 95% in 2022.

Persons: Toby Melville, Huw Jones, David Goodman, David Evans Organizations: FCA, Financial, Authority, REUTERS, British, Direct, Thomson Locations: London, Britain

☆ U.S. crude futures climb over $2 late in session
▼ + stars: | 2023-08-31 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures for October settled at $83.63 a barrel, up $2, or 2.45%. Brent crude futures for October, expiring on Thursday, finished up $1, 1.16%, at $86.86 a barrel. "The crude market is reacting to OPEC production cuts being extended," said Andrew Lipow, president of Lipow Oil Associates. On Thursday, six-month U.S. crude oil futures traded as low as $3.83 below crude for front month delivery , the steepest discount since Nov. 17, signalling tight supplies and encouraging inventory draws. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million bpd into October, adding to cuts put in place by OPEC+.

Persons: Lucy Nicholson, Andrew Lipow, Brent, Ole Hansen, Eric Rosengren, Ahmad Ghaddar, Jeslyn Lerh, David Goodman, Nick Macfie, Paul Simao, Cynthia Osterman Organizations: REUTERS, bbl, Fed, Organization Petroleum Exporting, . West Texas, Brent, Lipow Oil Associates, U.S . Energy, Administration, OPEC, Saxo Bank, Commerce Department, Reserve, Boston Fed, National Bureau of Statistics, Thomson Locations: Bakersfield , California, Saudi Arabia, China, HOUSTON, U.S, Singapore

☆ Shares in Swiss bank UBS hit highest since late 2008
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland February 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Aug 31 (Reuters) - Shares in UBS (UBSG.S) hit their highest level since October 2008 on Thursday, extending a strong run that has put the Swiss bank well ahead of its European rivals following the takeover in March of its struggling rival Credit Suisse. UBS rallied more than 6% early in Zurich, set for its biggest one-day gain since March, after the group said it would fully absorb Credit Suisse's domestic bank and that it was increasing its ambitions for cost savings to over $10 billion. The stock has risen 36% so far in 2023 against a 13.5% gain for the broader European banking index (.SX7P). (This story has been refiled to change the dateline to Aug. 31, and not Aug. 30)Reporting by Danilo Masoni Editing by Amanda Cooper and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Danilo Masoni, Amanda Cooper, David Goodman Organizations: Swiss, UBS, REUTERS, Credit Suisse, Deutsche Bank, Thomson Locations: Zurich, Switzerland, Swiss

☆ UK financial data market escapes competition probe for now
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Aug 31 (Reuters) - Britain's financial watchdog has stopped short of referring parts of the financial data market to the competition authority for now despite concerns over the power of large companies, it said on Thursday. The Financial Conduct Authority (FCA) said in March that competition in some parts of the wholesale financial data market is not working as well as it should, a sector which includes information on stock prices used by investors. It also launched a study to investigate if markets for benchmarks, credit ratings data and market data vendor services are working well, setting a Sept. 1 deadline to decide whether to refer any of the three market sectors to the Competition and Markets Authority (CMA). The update report highlights emerging issues in these markets, including concerns about the market power of large and established companies, which can reduce competition.

Persons: Toby Melville, Huw Jones, David Goodman Organizations: FCA, Financial, Authority, REUTERS, Financial Conduct Authority, Competition, Markets Authority, Thomson Locations: London, Britain

Mandatory credit Kyodo/via REUTERS Acquire Licensing RightsBENGALURU, Aug 29 (Reuters) - Oil prices edged higher on Tuesday as Hurricane Idalia intensified as it headed towards Florida's Gulf Coast, threatening to hit crude oil supplies in an already tightening market. Brent crude oil futures rose 34 cents, or 0.4%, to $84.76 a barrel by 11:44 a.m. EDT [1544 GMT], while the U.S. West Texas Intermediate futures rose 36 cents, or 0.5%, to $80.46 a barrel. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday. On the demand front, investors are monitoring data from major economies for further clues on interest rates this year and next. Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank may need to raise interest rates further to cool stubborn inflation.

Persons: Idalia, Phil Flynn, Jerome Powell, Shariq Khan, Natalie Grover, Emily Chow, Louise Heavens, David Goodman, Mike Harrison Organizations: Kyodo, REUTERS Acquire, Rights, Brent, U.S . West Texas, Chevron, Marathon Petroleum, American Petroleum Institute, Futures, Federal, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Gulf, U.S, Florida, Cuba, Mexico, Garyville , Louisiana, United States, Beijing, Bengaluru, London, Singapore, Houston

☆ French consumers forced to cut back on essentials, Carrefour CEO warns
▼ + stars: | 2023-08-29 | by ( Dominique Vidalon | ) www.reuters.com time to read: +4 min

"We are seeing a non-spending tsunami in France," Chairman and Chief Executive Alexandre Bompard told Franceinfo radio. The government is eager to get food inflation - more than twice the overall French inflation rate of 5.1% in July - on a downward path, wary that such high levels could undermine fragile consumer confidence. 'SITUATION OF DEPRIVATION'"They see their margins increase while the French are in a situation of deprivation," Bompard told Franceinfo. On Tuesday, Le Maire vowed to step up pressure on retailers and producers to accelerate price cuts. "I am meeting retailers tomorrow and the producers the day after tomorrow ... with one objective: accelerate the fall of prices."

Persons: Alexandre Bompard, Sarah Meyssonnier, Bompard, FinMin Le Maire, Bruno Le Maire, Henkel, Franceinfo, Le Maire, Dominique Vidalon, Geert de Clercq, Silvia Aloisi, David Goodman, Conor Humphries Organizations: Carrefour, Entrepreneurs de France, Paris, Paris Longchamp Racecourse, REUTERS, Wednesday PARIS, Finance, Retailers, Procter, Gamble, Unilever, G, Henkel, Thomson Locations: Paris Longchamp, Paris, France, Carrefour

Meanwhile, Hurricane Idalia is expected to strengthen into a major hurricane with maximum sustained winds of 125 miles per hour (201 kilometers per hour) before hitting the northwest coast of Florida early on Wednesday, according to the U.S. National Hurricane Center (NHC). The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Production was continuing at Chevron-operated Gulf of Mexico oil and gas facilities. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday.

Persons: Brent, Hurricane Idalia, Idalia, Robert Yawger, Yawger, Shariq Khan, Natalie Grover, Emily Chow, David Goodman, Mike Harrison, Josie Kao Organizations: Kyodo, REUTERS Acquire, bbl U.S, Hurricane, . West Texas, Brent, U.S, Federal Reserve, National Hurricane Center, Labor, Chevron Corp, Chevron, Marathon Petroleum, American Petroleum Institute, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Florida, BENGALURU, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Garyville , Louisiana, United States, Bengaluru, London, Singapore, Houston

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsSINGAPORE, Aug 23 (Reuters) - Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter. "Our strategic review is ongoing and we are exploring several options including divestment," a Shell spokesperson told Reuters on Wednesday. Companies that are reviewing Shell's Singapore assets include Asia's largest refiner, China's Sinopec (600028.SS), as well as global trading companies Vitol and Trafigura, the sources said. For trading companies, the site is seen as a potential oil storage and distribution hub, some of the sources said. In March, Shell decided not to proceed with two projects it was studying to produce biofuels and base oils in Singapore.

Persons: Chris Helgren, Goldman Sachs, Wael Sawan, China's Sinopec, Shell, Trixie Yap, Chen Aizhu, Florence Tan, Tony Munroe, David Goodman Organizations: Shell, REUTERS, Rights, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Singapore, Jurong, Asia

☆ J&J's Janssen to close part of its vaccine division -Telegraaf
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] The exterior of Johnson and Johnson's subsidiary Janssen Vaccines in Leiden, Netherlands, March 9, 2021. REUTERS/Piroschka van de Wouw Acquire Licensing RightsAMSTERDAM, Aug 23 (Reuters) - Johnson & Johnson's (JNJ.N) Janssen division, which helped to develop its single-dose COVID-19 vaccine, will close much of its vaccine research and development operations in the Netherlands, newspaper De Telegraaf reported. In an emailed response on Wednesday, Johnson & Johnson confirmed plans to exit some of its vaccine research and development programmes, which it said it had initially disclosed in its 2023 second-quarter results. De Telegraaf reported that 2,500 people worked at Janssen in the Netherlands, a quarter of which were in the section specialising in infectious diseases and vaccines. J&J's relatively large Dutch vaccine operation stems in part from its $2.1 billion acquisition in 2011 of vaccine maker Crucell.

Persons: Johnson, de Wouw, Janssen, De Telegraaf, J, Charlotte Van Campenhout, Toby Sterling, David Goodman, David Evans Organizations: Janssen Vaccines, REUTERS, Rights, Thomson Locations: Leiden, Netherlands

Brent crude was down 36 cents at $84.10 a barrel by 11:45 a.m. EDT (1545 GMT). China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. Amplifying demand concerns, U.S. central bank officials have not ruled out further interest rate hikes to contain inflation. A preliminary Reuters poll showed that crude oil and gasoline inventories were expected to have fallen last week, with data from American Petroleum Institute due later on Tuesday. Separately on Monday, Shell (SHEL.L) said it was investigating a possible leak on the 180,000 bpd Trans Niger oil pipeline, though no force majeure has been declared.

Persons: Lucy Nicholson, Brent, Jim Ritterbusch, majeure, Natalie Grover, Paul Carsten, Muyu Xu, Katya Golubkova, Tomasz Janowski, David Evans, David Goodman, David Gregorio Our Organizations: REUTERS, Companies Shell, West Texas Intermediate, Saudi, Ritterbusch, Associates, American Petroleum Institute, of Commerce, Shell, Thomson Locations: Bakersfield , California, China, Russian, Galena , Illinois, U.S, Iraqi, Turkey, Iraq, Saudi, Niger, London, Singapore, Tokyo

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices -dataBuoyant heating oil lifts crude prices -analystChinese economy and US rate risk continues to weighLONDON, Aug 21 (Reuters) - Oil prices edged higher on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth. Brent crude was up 52 cents to $85.32 a barrel at 1348 GMT and U.S. West Texas Intermediate crude was up 65 cents at $81.90. A weaker dollar makes oil purchases less expensive for holders of other currencies, potentially boosting demand. Another bullish factor is the high price of heating oil, which is in focus as the northern hemisphere approaches darker months, said John Evans of oil broker PVM. However, what is like trying to hit a "flying insect with a bazooka" is determining whether the buoyant heating oil market is enough to rally the oil complex or just hold it in the face of broader macroeconomic concerns, he said.

Persons: Lucy Nicholson, Brent, Warren Patterson, ING's, John Evans, Natalie Grover, Paul Carsten, Florence, Mohi Narayan, David Goodman, Mark Potter Organizations: REUTERS, . West Texas, of, Petroleum, Thomson Locations: Bakersfield , California, China, Saudi Arabia, Russia, OPEC, Saudi, London, Florence Tan, Singapore, New Delhi

☆ Oil up 1% on tighter supplies and heating oil prices
▼ + stars: | 2023-08-21 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices -dataBuoyant heating oil lifts crude prices -analystChinese economy and US rate risk continues to weighLONDON, Aug 21 (Reuters) - Oil prices rose more than 1% on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth. A weaker dollar makes oil purchases less expensive for holders of other currencies, potentially boosting demand. Another bullish factor is the high price of heating oil, which is in focus as the northern hemisphere approaches darker months, said John Evans of oil broker PVM. However, what is like trying to hit a "flying insect with a bazooka" is determining whether the buoyant heating oil market is enough to rally the oil complex or just hold it in the face of broader macroeconomic concerns, he said. "Unless there's a recession and demand slows or drops, OPEC+ is in control," said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore.

Persons: Lucy Nicholson, Brent, Warren Patterson, ING's, John Evans, Stefano Grasso, Natalie Grover, Paul Carsten, Florence, Mohi Narayan, David Goodman Organizations: REUTERS, . West Texas, of, Petroleum, Thomson Locations: Bakersfield , California, China, Saudi Arabia, Russia, OPEC, Saudi, 8VantEdge, Singapore, London, Florence Tan, New Delhi

"We are asking the court to close Facebook, not allowing it to provide services in Thailand if they let these fake pages scam people," Chaiwut Thanakamanusorn told Reuters. Ministry spokesperson Wetang Phuangsup told Reuters officials were currently gathering evidence of wrongdoing by Facebook that would be presented before court. "If there is a lot of wrongdoing, the court could close down pages and accounts. Or the court could close the entire platform," he said. The ministry said scams perpetrated on Facebook included luring users to invest in fake companies, faking government bodies like the Securities and Exchange Commission and trading in digital currencies.

Persons: Chaiwut Thanakamanusorn, Meta, Wetang Phuangsup, Chaiwut, Panu, Martin Petty, Devjyot, David Goodman, Mark Potter Organizations: Facebook, Reuters, Ministry of Digital Economy, Society, Securities and Exchange Commission, Thomson Locations: BANGKOK, Southeast Asia's, Thailand

☆ Kuwait Airways plans to lease eight Airbus jets within 10 years
▼ + stars: | 2023-08-20 | by ( Ahmed Hagagy | ) www.reuters.com time to read: +1 min

KUWAIT CITY, Aug 20 (Reuters) - Kuwait Airways (KA.UL) plans to lease eight Airbus (AIR.PA) passenger jets within 10 years, Chairman Ali Aldokhan said on Sunday. The state-owned carrier is examining offers from leasing companies, and the contract duration for the leased planes, all Airbus 321 neo aircraft, will be between eight and 10 years, Aldokhan told a news conference. The plan to lease eight planes is in addition to Kuwait Airways' multi-billion dollar deal with Airbus in 2022 to buy 31 planes, 18 of which it has already received. The cost of jet fuel for Kuwait Airways has increased 38% year-on-year since the beginning of 2023, Aldokhan said. Kuwait Airways is in negotiations with Kuwait Petroleum Corporation on a discount mechanism to reduce the airline's jet fuel costs, CEO Maen Razouqi told the same press conference.

Persons: Ali Aldokhan, Aldokhan, Maen Razouqi, Ahmed Hagagy, Adam Makary, David Goodman, Susan Fenton Organizations: KUWAIT CITY, Kuwait Airways, Airbus, Kuwait Petroleum Corporation, Tala, Thomson Locations: KUWAIT

Search resuls for: "David Goodman"

25 mentions found