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Adobe co-founder John Warnock dies at 82
  + stars: | 2023-08-20 | by ( ) www.reuters.com   time to read: 1 min
CEO and Chairman of Adobe Systems, Inc. Dr. John Warnock testifies before the U.S. Senate Joint Economics Committee hearing on Capitol Hill, June 6, 2000. REUTERS/Larry Downing/File Photo Acquire Licensing RightsAug 20 (Reuters) - Photoshop maker Adobe's (ADBE.O) co-founder John Warnock died on Saturday aged 82, the company said in a statement early on Sunday. "It is a sad day for the Adobe community and the industry for which he has been an inspiration for decades," Adobe CEO Shantanu Narayen said in an email sent to employees. Warnock co-founded Adobe in 1982 with Charles Geschke. He retired as CEO in 2000 and was chairman of the board, a position he shared with Geschke, until 2017.
Persons: John Warnock, Larry Downing, Shantanu Narayen, Warnock, Charles Geschke, Nilutpal, David Goodman Organizations: Adobe Systems, Inc, U.S . Senate, Capitol, REUTERS, Adobe, Thomson Locations: Bengaluru
Neymar injury delays Al-Hilal debut by a month
  + stars: | 2023-08-20 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Soccer Football - Neymar arrives in Riyadh after signing for Al Hilal - King Khalid International Airport, Riyadh, Saudi Arabia - August 18, 2023 Al-Hilal's Neymar seen upon arrival REUTERS/Ahmed Yosri Acquire Licensing RightsAug 20 (Reuters) - Brazilian winger Neymar might have to wait until September to make his debut for Saudi Arabia's Al-Hilal because of injury, coach Jorge Jesus said. Neymar joined Al-Hilal from Paris St Germain last Tuesday on a two-year contract that French newspaper L'Equipe said could earn the 31-year-old 160 million euros ($174 million). "Neymar is an innovative and creative player, he will help us to improve, but he has a slight injury now and I don’t know when he will return. Al-Hilal coach Jesus also expressed his surprise at Neymar's inclusion in the Brazil squad for two World Cup qualifiers next month. Neymar has not played for Brazil since last year's World Cup as he recovers from an ankle injury sustained in February, but he has been included in the squad for World Cup qualifiers against Bolivia on Sept. 8 and Peru four days later.
Persons: Neymar, Al Hilal, King, Hilal's Neymar, Ahmed Yosri, Saudi Arabia's Al, Jorge Jesus, ” Jesus, Jesus, Ahmed Mostafa, David Goodman Organizations: Soccer, Al, King Khalid International Airport, Saudi, Paris St Germain, French, L'Equipe, King Fahd International, Drones, Brazilian national, Brazil, Bolivia, Thomson Locations: Riyadh, Saudi Arabia, Hilal, Paris, Barcelona, Al, Brazil, Peru
Ukrainian President Volodymyr Zelenskiy is greeted by Dutch Prime Minister Mark Rutte, during his visit to Eindhoven, Netherlands, August 20, 2023. REUTERS/Piroschka van de Wouw Acquire Licensing RightsEINDHOVEN, Aug 20 (Reuters) - Ukrainian President Volodymyr Zelenskiy arrived in the Netherlands on Sunday in an ongoing push to boost Ukraine's air defences, days after the United States approved the possible delivery of F-16 fighter jets by the Netherlands and Denmark. Zelenskiy will meet outgoing Dutch Prime Minister Mark Rutte at a military air base in Eindhoven, Rutte's office said without providing further details. According to figures from the Dutch defence ministry, the Netherlands currently has 24 operational F-16s which will be phased out by mid-2024. Reporting by Bart Meijer, Stephanie van den Berg and Piroschka van der Wouw Editing by David Goodman, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.
Persons: Volodymyr Zelenskiy, Mark Rutte, de Wouw, Zelenskiy, Rutte, Oleksiy Reznikov, Lockheed Martin, Bart Meijer, Stephanie van den Berg, Piroschka van, David Goodman, Elaine Hardcastle Organizations: Dutch, REUTERS, Rights, Global Peace Summit, Ukraine's Defence, Lockheed, Gripen, Thomson Locations: Eindhoven, Netherlands, States, Denmark, The Netherlands, Ukraine, Russia, Romania, Sweden
An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Weekly products supplied, a proxy for demand, rose to the highest since December. Higher interest rates increase borrowing costs, which could slow economic growth and reduce oil demand. On a bullish note, China made a rare draw on crude oil inventories in July, the first time in 33 months it has dipped into storage. Data released on Wednesday showed that U.S. crude oil inventories fell by nearly 6 million barrels last week on strong exports and refining run rates.
Persons: Dennis Kissler, Naeem Aslam, OANDA's Moya, Arathy Somasekhar, Natalie Grover, Katya Golubkova, David Goodman, Christina Fincher, David Gregorio Our Organizations: REUTERS, Rights, Brent, . West Texas, BOK Financial, Travel, Energy, Zaye, Markets, Thomson Locations: Zhoushan, Zhejiang province, China, Independence, U.S, China's, Houston, London, Singapore
Oil edges up as China seeks to calm economic fears
  + stars: | 2023-08-17 | by ( Natalie Grover | ) www.reuters.com   time to read: +2 min
An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/file photo Acquire Licensing RightsLONDON, Aug 17 (Reuters) - Oil prices crept up on Thursday after China's central bank sought to stem the rising tide of pessimism over the country's property market and wider economy. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. On a more bullish note, China made a rare draw on crude oil inventories in July, the first time in 33 months that it had dipped into storage. Data released on Wednesday showed that U.S. crude oil inventories fell by nearly 6 million barrels last week on strong exports and refining run rates.
Persons: Naeem Aslam, Edward Moya, John Evans, OANDA's Moya, Natalie Grover, Katya Golubkova, David Goodman Organizations: REUTERS, Brent, . West Texas, Zaye, U.S, U.S . Federal, Thomson Locations: Zhoushan, Zhejiang province, China, U.S .
At current prices shares are now down about 16% in the year to date, surrendering gains up to Wednesday's close. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data showed. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. He said the economy overall is slowing and online payments growth may not be quite as fast as it was in the pre-COVID era. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February.
Persons: Eva Plevier, Hannes Leitner, Adyen, Toby Sterling, Sinead Cruise, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Company, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, PayPal, Jefferies, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, North America, Stripe, Braintree, Fiserv
Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data shows. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. Adyen's EBITDA margin fell to 43% from 59%, which the company said was mostly because of higher wage costs as it takes on more staff. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February. Adyen maintained its medium-term targets for revenue growth above 25% and an improving EBITDA margin that it expects to reach 65% in the long term.
Persons: Eva Plevier, Adyen, Toby Sterling, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Rights, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, North, PayPal, Thomson Locations: Amsterdam, Netherlands, North America, United States
Signage is seen outside a branch of the Bank of Ireland in Galway, Ireland, August 6, 2020. Pictures posted on social media purported to show queues at some ATMs after the glitch became a trending topic on social media platform X, formerly known as Twitter. A statement from Ireland's largest lender by assets said: "Yesterday a technical issue impacted a number of Bank of Ireland's services. Ireland's central bank said it was monitoring the situation and engaging with Bank of Ireland to ensure any issues and errors identified were resolved for customers. The digital banking platform said earlier this year that it had more than two million customers in Ireland.
Persons: Clodagh, Padraic Halpin, Sinead Cruise, David Goodman, Mark Potter Organizations: Bank of Ireland, REUTERS, Rights, Twitter, Reuters, Bank of, Revolut, Thomson Locations: Galway, Ireland, Dublin, London
Aug 15 (Reuters) - Newcastle United fans have embraced Italian signing Sandro Tonali with the chant he "drinks Moretti, eats spaghetti"; and they may be on to something, given he was seen dining at a budget chain pub after scoring on his debut. Newcastle's Chronicle newspaper reported that the 23-year-old walked into a Wetherspoons pub in Gosforth on Monday night after a booking was made in his name. The menu at the Gosforth Wetherspoons features items such as pasta Alfredo with an alcoholic drink for 10.37 pounds ($13.17), mixed grill with drink for 12.91 pounds or pizza margherita and drink for 9.82 pounds. "He might put in a transfer request the minute his food arrives," said another. ($1 = 0.9145 euros)($1 = 0.7872 pounds)Reporting by Alan Baldwin in London Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Sandro Tonali, Moretti, James ', Tonali, Alfredo, margherita, Alan Baldwin, David Goodman Organizations: Newcastle United, Magpies, AC Milan, Aston Villa, St, Newcastle's Chronicle, Twitter, Gosforth, Thomson Locations: Gosforth, London
[1/2] Philips Healthcare headquarters is seen in Best, Netherlands August 30, 2018. The group combines two of the three sectors Exor targets in its investment strategy: healthcare and technology. While not an activist investor, Exor aims to play an active role in supporting Philips' strategy, the source said. "Exor's substantial investment underlines their confidence in Philips' transformation into a healthcare technology company and its growth and value potential," Philips Chairman Feike Sijbesma said in a statement. Philips last month reported core profit of 453 million euros and slightly upgraded financial targets for the full year.
Persons: de, Exor, Italy's Agnelli, Philips, Feike Sijbesma, John Elkann, Lifenet, Louboutin, Roy Jakobs, Valentina Za, Kim Coghill, David Goodman, Susan Fenton Organizations: Philips Healthcare, REUTERS, Philips, Philips AMSTERDAM, Exor, Institut, Ferrari, Italian soccer, Juventus, ING, U.S . Department of Justice, Thomson Locations: , Netherlands, Exor, Louboutin . New York, Italian, Milan
“It doesn’t feel right,” said Jessica Campos, 41, a parent at Pugh Elementary, a Spanish dual-language school slated for immediate changes. Schools will also hire community members to teach elective courses like photography and spin classes. Miles has said that given limited space and resources, the decision was a trade-off and that students in schools where libraries have been converted into team rooms would still be able to borrow books before or after school. “He’s gone too far, and he’s dismantling the largest educational district in the state of Texas,” Mr. Turner said of Mr. “You cannot have a situation where you are closing libraries for some schools in certain neighborhoods, and there are other neighborhoods where there are libraries, fully equipped.
Persons: , Jessica Campos, we’re, Miles, Sylvester Turner, He’s, ” Mr, Turner Organizations: Pugh, Houston’s Locations: Spanish, Texas
When he was elected district attorney in Nueces County in 2016, Mark A. Gonzalez stood out even among a growing class of progressive Democratic prosecutors: a former criminal defense attorney with tattoos across his body, including one reading “Not Guilty,” whose name appeared in a Texas state police database of registered gang members. Once deemed “the most unlikely D.A. in America,” Mr. Gonzalez was one of the first prosecutors in Texas to encourage police to ticket people, rather than arrest them, for a range of minor offenses. He made his office friendlier to defense lawyers. The removal effort is one front in an expanding campaign by conservatives across the country to limit the power of Democratic prosecutors who have promised to reform the criminal justice system, or else to oust the prosecutors altogether.
Persons: Mark A, Gonzalez, ” Mr Organizations: Democratic, Republican Locations: Nueces County, Texas, America
Oil prices firm on upbeat demand growth forecasts
  + stars: | 2023-08-11 | by ( Ahmad Ghaddar | ) www.reuters.com   time to read: +2 min
A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary IEA says tighter inventories could push prices higherOPEC flags healthy oil market fundamentals in second halfU.S. consumer prices rise moderately in JulyLONDON, Aug 11 (Reuters) - Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). The Organization of the Petroleum Exporting Countries (OPEC) on Thursday said it expects global oil demand to rise by 2.25 million bpd in 2024, compared with growth of 2.44 million bpd this year. In 2024 "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Data this week also showed China's consumer prices fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world's second-largest economy.
Persons: Dado, Brent, Tamas Varga, Ahmad Ghaddar, Andrew Hayley, David Goodman, Jason Neely Organizations: REUTERS, International Energy Agency, West Texas, of, Petroleum, Thursday's U.S, Federal Reserve, Thomson Locations: OPEC, China, Saudi Arabia, Russia, Ukraine, June's, Beijing
A 3-year-old child died while traveling on a bus chartered by the state of Texas as it transported asylum seekers from the border city of Brownsville to Chicago as part of Gov. Greg Abbott’s program to send migrants from Texas to Democratic-run cities in other states, officials said. The child’s parents were also on the bus when the child began showing symptoms of an illness, including a fever and diarrhea, before losing consciousness, according to Representative Joaquin Castro, a Democratic congressman from San Antonio whose office was briefed on the death. “Following this check, prior to boarding, no passenger presented with a fever or medical concerns,” the statement said, without specifying when the death had taken place. A spokesman did not respond to requests for additional information, including the timing of the death, the nature of the illness, the name or sex of the child or the country of origin of the family.
Persons: Greg Abbott’s, Joaquin Castro Organizations: Gov, Democratic, Texas Department of Emergency Management, . Customs, Border Protection Locations: Texas, Brownsville, Chicago, San Antonio
LONDON, Aug 11 (Reuters) - U.S. hedge fund Davidson Kempner Capital Management (DK) said on Friday it had agreed to sell Prelios to fintech firm ION Group, in a long-awaited deal which two sources said valued the Italian credit manager at 1.35 billion euros ($1.5 billion). DK, which did not disclose the sale price, had been looking for a buyer for years, and held discussions for several months with ION. Dublin-based ION Group was in turn in talks with banks for months to secure funding for the deal. Founded by former Salomon Brothers trader Andrea Pignataro, ION Group provides services of trading, analytics, treasury and risk management for capital and commodity markets. In 2021 in Italy alone, ION bought banking software provider Cedacri for $1.8 billion and acquired Cerved in a deal that valued the credit data and management group at nearly 2 billion euros.
Persons: Salomon, Andrea Pignataro, UniCredit, Intesa, DK, Lazard, Prelios, Mediobanca, Goldman Sachs, Morgan Stanley, Riccardo Serrini, Valentina Za, Pablo Mayo, David Goodman, Susan Fenton Organizations: Davidson, Capital Management, ION Group, ION ., ION, Reuters, BNP, Banco, Standard Chartered Bank, Mediobanca, UBS, X3, DK, Thomson Locations: ION . Dublin, Italy
Oil steadies as U.S. rate hike fears subside
  + stars: | 2023-08-10 | by ( Natalie Grover | ) www.reuters.com   time to read: +2 min
Brent crude was down 23 cents to $87.32 a barrel at 1251 GMT, while West Texas Intermediate crude (WTI) was down 37 cents at $84.03. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. On Thursday, OPEC said in its monthly report it expected a healthy oil market for the rest of the year, and stuck by its forecast for robust oil demand in 2024, as the outlook for world economic growth slightly improves. "The poor state of China’s manufacturing, its property sector and some stubborn world inflation stand out as issues that the oil fraternity chooses to ignore at present." Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.
Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Evans, Natalie Grover, Muyu Xu, Laura Sanicola, David Goodman, Mark Potter Organizations: West Texas, Federal Reserve, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, London, Singapore, Washington
An Israel El Al airlines plane is seen after its landing following its inaugural flight between Tel Aviv and Nice at Nice international airport, France, April 4, 2019. A decision likely would be made early in 2024, Ben Tal Ganancia said. At list prices the investment would be near $4 billion but El Al would likely pay far less after discounts. "It is serious," Ben Tal Ganancia said of the talks with Europe's Airbus. In the second quarter, El Al earned a net $59 million versus net profit of $100 million a year earlier.
Persons: Israel El, Eric Gaillard, Dina Ben Tal Ganancia, Ben Tal Ganancia, El Al, Steven Scheer, Tim Hepher, David Goodman, Mark Potter Organizations: Nice, REUTERS, TEL, Al Israel Airlines, Airbus, El, Boeing, Reuters, El Al, Tel Aviv Stock Exchange, Europe's Airbus, Ben Gurion, Revenue, Ben Gurion International Airport, Thomson Locations: Israel, Tel Aviv, France, TEL AVIV, United States, El, Asia, Australia, North America, Istanbul, Dublin, Tokyo, Mumbai, Fort Lauderdale
[1/2] The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File PhotoCompanies Siemens AG FollowVIENNA/MUNICH, Aug 8 (Reuters) - Siemens (SIEGn.DE) is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Siemens said the investigation was based on information the company had provided to the public prosecutor's office in the course of an ongoing compliance investigation. "Siemens is cooperating fully with the authorities," the engineering company said, adding that it would not comment on ongoing investigations. Austrian prosecutors said that five people had been arrested as part of the investigation, with several house searches taking place last week.
Persons: Arnd, Feldkirch, KHBG, Martina Ruescher, Alexandra Schwarz, Alexander Huebner, John Revill, Friederike Heine, Miranda Murray, David Goodman, Louise Heavens Organizations: Siemens, REUTERS, Companies Siemens AG, Welt, Smart Infrastructure, Thomson Locations: Zug, Switzerland, MUNICH, Austria, Vorarlberg, Vienna, Munich
LONDON, Aug 7 (Reuters) - Israeli fintech company Vesttoo is in "active discussions" with potential investors to find alternative collateral for clients after discovering fake letters of credit had been used on its platform, a company spokesperson said on Monday. Vesttoo provides insurers with access to so-called insurance-linked securities - an alternative form of reinsurance. These securities may be backed by collateral in the form of letters of credit. Vesttoo was working with the markets to find alternative collateral, it said in the statement. Vesttoo said a core team of more than 50 people was working to seek alternative collateral, and the company would meet all its commitments to suppliers and consultants.
Persons: Vesttoo, Yaniv Bertele, Carolyn Cohn, David Goodman, Mark Potter Organizations: Banco Santander's, Thomson
Adobe's Figma deal faces EU competition investigation
  + stars: | 2023-08-07 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/IllustrationBRUSSELS, Aug 7 (Reuters) - Adobe's (ADBE.O) $20 billion bid for cloud-based designer platform Figma could reduce competition in global markets for interactive product design tools and also shut out rivals, EU antitrust regulators said on Monday. The European Commission said it opened a full-scale investigation into the deal after a preliminary review triggered concerns, confirming a Reuters story last month. The deal would remove an important rival and could allow Photoshop maker Adobe to restrict competition in the global markets for supply of interactive product design tools, the EU antitrust watchdog said. It said the acquisition could also affect Figma's potential for growth into an effective competitor to Adobe's asset creation tools and effectively reduce competition in interactive product design tools by bundling Figma with Adobe's Creative Cloud suite. The EU competition enforcer said it would decide by Dec. 14 whether to clear or block the deal.
Persons: Dado Ruvic, Competition Margrethe Vestager, Adobe, Foo Yun, Sharon Singleton, David Goodman Organizations: REUTERS, European Commission, Reuters, Tech, Zoom Video Communications, Adobe, Competition, EU, Thomson Locations: BRUSSELS
LONDON, Aug 7 (Reuters) - Israeli fintech company Vesttoo is in "active discussions" with potential investors to find alternative collateral for clients after a fake collateral scandal, a company spokesperson said on Monday. Vesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is in contact with regulatory bodies worldwide, the spokesperson said in an emailed statement after discovery of fake letters of credit used on its platform. Reporting by Carolyn Cohn Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Carolyn Cohn, David Goodman Organizations: Thomson
A Pakistan International Airlines (PIA) passenger plane prepares to take off from the Benazir International airport in Islamabad, Pakistan, February 9, 2016. REUTERS/Faisal Mahmood/File PhotoISLAMABAD, Aug 7 (Reuters) - Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar. The committee "after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament," a finance ministry statement said. Pakistan hopes to resume PIA flights to Britain in the next three months after services were suspended following a fake pilot scandal.
Persons: Faisal Mahmood, Ishaq Dar, Asif Shahzad, Baranjot Kaur, David Goodman, Mark Potter, Alistair Bell Organizations: Pakistan International Airlines, PIA, Benazir, REUTERS, Finance, Pakistan International Airlines Co . Ltd, PIAInvestment, European Union's Aviation Safety Agency, International Monetary Fund, Pakistan, Baranjot, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, , New York, Britain, Europe, Bengaluru
Scores of state highway troopers, usually found on roadways across Texas in their distinctive cowboy hats and black-and-white patrol vehicles, have descended on Austin, the state capital. But in a booming city known for its progressive politics, the partnership between the local police, steeped in the language of reform, and the Texas Department of Public Safety, under the direction of Republican state leaders, soon began to raise concern. Statistics emerged showing that those arrested on misdemeanor charges by state troopers were mostly Black and Hispanic. In May, there was a fatal shooting by troopers after a chase. Days later, two troopers drew their weapons on a father and son during a car stop.
Organizations: Democratic, Austin Police Department, Texas Department of Public Locations: Texas, Austin
The body of a man who drowned in the Rio Grande was found Wednesday in the floating barrier of buoys installed by the state of Texas to deter migrant crossings from Mexico, officials said. It was not immediately clear how the man, who was not identified, ended up in the barrier, which runs for roughly 1,000 feet in the middle of the river in the small border city of Eagle Pass. Mexican officials said in a statement that they had been alerted by the Texas state police around 2:35 p.m. that the body had been discovered “caught in the southern part of the buoys.”Officials from the Texas Department of Public Safety, whose officers patrol the banks of the river around the barrier, said the man appeared to have drowned farther up the river and then floated down. “Preliminary information suggests this individual drowned upstream from the marine barrier and floated into the buoys,” said Steve McCraw, the director of the Department of Public Safety. “There are personnel posted at the marine barrier at all times in case any migrants try to cross.”
Persons: , , Steve McCraw Organizations: Texas Department of Public Safety, Department of Public Safety Locations: Rio Grande, Texas, Mexico, Eagle
Copper prices have been range-bound in recent months after a January slide from their highest in more than seven months and a May rebound from a slump below $8,000 a metric ton. Analysts forecast a copper surplus this year of 111,000 metric tons, with oversupply rising to 188,000 tons next year. Analysts expect a market deficit this year of 191,750 metric tons, dropping to 66,000 tons in 2024. Analysts expect LME cash nickel prices to average $20,000 a metric ton in the fourth quarter, down 11% from the previous poll. They expect the global nickel market to show a surplus of 199,000 metric tons this year and 150,000 tons in 2024.
Persons: Dan Smith, Goran Djukanovic, Nguyen, Eric Onstad, Ananya, David Goodman Organizations: Amalgamated Metal Trading, Study, London Metal Exchange, Reuters, Indonesia, Thomson Locations: BENGALURU, China, YUNNAN, Yunnan, Yunnan province, Indonesia, Commerzbank, London, Bengaluru
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