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☆ US appeals court scraps Sempra's Port Arthur LNG emissions permit
▼ + stars: | 2023-11-15 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsHOUSTON, Nov 15 (Reuters) - A U.S. court has removed an emissions permit for Sempra's (SRE.N) Port Arthur LNG export terminal in Texas, but the company said construction of the facility will continue for now. The approximately 13.5 million-metric-tons-per-annum (mtpa) Port Arthur plant has approval to export LNG to both Free Trade Agreement (FTA) and non-FTA countries, including Europe, and is part of the U.S. LNG expansion to meet growing global demand for the superchilled gas. The decision sends the Port Arthur LNG permit application back to the TCEQ for new evaluation. Investment firm KKR (KKR.N) owns a 20% stake in Sempra Infrastructure while Sempra Energy owns 70% and Abu Dhabi Investment Authority owns 10%. John Beard, executive director of the Port Arthur Community Action Network, which brought the lawsuit challenging TCEQ, said of the ruling: “We’ve won by standing up for Port Arthur communities of color to breathe free from toxic pollution.

Persons: Dado Ruvic, Port Arthur, Sempra, John Beard, “ We’ve, –, Biden, Alex Munton, Munton, Curtis Williams, Deepa Babington, Stephen Coates Organizations: REUTERS, Rights, Port Arthur, Free, U.S, U.S ., Appeals, Fifth Circuit, Texas Commission, Environmental, Rio, Rio Grande LNG, Port, Sempra Infrastructure, ConocoPhillips, Investment, KKR, Sempra Energy, Abu Dhabi Investment Authority, Port Arthur Community Action Network, Global Gas & LNG Research, Rapidan Energy, Thomson Locations: Port, Texas, Europe, Rio Grande, Port Arthur, Abu Dhabi, Houston

The TikTok app logo is seen in this illustration taken August 22, 2022. News organizations are competing with TikTok and other social media platforms for consumers' attention and advertisers' budgets, with many seeking ways to engage TikTok’s large and coveted Gen Z audience. Meta (META.O)-owned Facebook is the most popular social media platform for news, with 30% of Americans saying they regularly access news there, followed by YouTube with 26%, Instagram with 16% and TikTok with 14%, Pew found. Regular news consumers on Nextdoor, Facebook, Instagram and TikTok are more likely to be women, Pew found, while regular news consumers on Reddit, X, LinkedIn and Alphabet (GOOGL.O)-owned YouTube are more likely to be men. Under owner Elon Musk, regular news consumers on X, the platform formerly named Twitter, are roughly split politically, with 46% Republican or Republican-leaning, and 49% Democrat or Democratic-leaning, according to Pew.

Persons: Dado Ruvic, Pew, Elon Musk, Helen Coster, Jan Harvey Organizations: REUTERS, Pew Research Center, Meta, Facebook, YouTube, Republican, Democratic, Pew, Thomson Locations: U.S

☆ US senators seek Meta documents over platforms' alleged mental, physical harms
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 15 (Reuters) - A bipartisan group of U.S. senators have asked Meta (META.O) to "provide documents related to senior executives’ knowledge of the mental and physical health harms associated with its platforms, including Facebook and Instagram," they said in a statement released on Wednesday. The members of the Senate Judiciary Committee in a letter asked the social media giant's chief executive, Mark Zuckerberg, to provide the documents by Nov. 30, the statement said. Reporting by Richard Cowan; writing Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Mark Zuckerberg, Richard Cowan, Susan Heavey Organizations: Meta, REUTERS, Rights, Facebook, Thomson

☆ Dollar down as markets bet Fed done with hikes
▼ + stars: | 2023-11-15 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The offshore yuan briefly ticked up to a three-month high of $7.2385 against the dollar before easing back somewhat to $7.2477. The New Zealand dollar , which can act as a proxy for China, ticked up to a one-month high of $0.6029 against the dollar. Traders reacted quickly to the shift in market pricing by sending the dollar tumbling 1.5% overnight against major currencies. The dollar index , which measures the currency against a basket of peers, last stood at 104.14, not far from Tuesday's two-month low of 103.98. With the dollar on the back foot, the euro settled around $1.08725 after touching its highest since August the previous day.

Persons: Dado Ruvic, Rob Carnell, Carnell, Moh Siong Sim, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, of Research, ING, New Zealand, Traders, Treasury, Bank of Singapore, Thomson Locations: Asia, China, U.S, Lincoln

☆ Senators demand documents from Meta on social media harm to children
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Children playground miniatures are seen in front of displayed Instagram logo in this illustration taken April 4, 2023. Senators has written to Meta Platforms (META.O) CEO Mark Zuckerberg demanding documents about its research into the harm to children from its social media platforms. A whistleblower's release of documents in 2021 showed Meta knew Instagram, which began as a photo-sharing app, was addictive and worsened body image issues for some teen girls. The letter follows a hearing with a new whistleblower last week and after a newly unsealed complaint filed by the Massachusetts Attorney General, the senators said. Dozens of U.S. states are also suing Meta and its Instagram unit, accusing them of fueling a youth mental health crisis by making their social media platforms addictive.

Persons: Dado Ruvic, Mark Zuckerberg, Meta, Arturo Béjar's, Akash Sriram, Shounak Dasgupta Organizations: REUTERS, Senators, Meta, Thomson Locations: U.S, Massachusetts, Bengaluru

☆ Google antitrust trial crystallizes Apple’s risk
▼ + stars: | 2023-11-15 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Nov 15 (Reuters Breakingviews) - The antitrust case against Google is spelling out some serious problems. The U.S. Department of Justice claims that Alphabet maintains its market dominance by striking deals to make Google the default search engine on other companies’ devices and browsers. One expert witness for Google said Apple receives 36% of the ad revenue Google makes from searches on Apple’s Safari browser. Kevin Murphy, an economics professor at the University of Chicago, and an expert witness for Google, made the remark, Bloomberg reported. The two companies have had a partnership since 2002, where Google shares advertising revenue generated from users of Apple devices, and Google is the default search engine for these devices.

Persons: Dado Ruvic, Tim Cook, Bernstein, Kevin Murphy, Alphabet’s Google, Lauren Silva Laughlin, Sharon Lam Organizations: Apple, REUTERS, Reuters, Google, U.S . Department of Justice, Microsoft, U.S . Department, University of Chicago, Bloomberg, Alphabet’s, Thomson

Broken Ethernet cable is seen in front of binary code and words "cyber security" in this illustration taken March 8, 2022. "We're also seeing a greater interest from state actors in Australia's critical infrastructure." In May, the Five Eyes intelligence alliance and Microsoft (MSFT.O) said a state-sponsored Chinese hacking group was spying on U.S. critical infrastructure organisations. Techniques used by the China hacking group could be used against Australia's critical infrastructure including telecommunications, energy and transportation, the report said. Marles said Australia's relationship with China, its largest trading partner, was "complex" and the government had never pretended the relationship would be easy.

Persons: Dado Ruvic, cybercrime, Richard Marles, We're, Marles, Matthew Warren, Nigel Phair, Renju Jose, Byron Kaye, Lincoln, Edwina Gibbs Organizations: REUTERS, Rights, U.S, Australian Cyber Security, ABC Radio, Microsoft, RMIT University Centre, Cyber Security Research, Australian Securities and Investments, Australia, Monash University, DP, Optus, Thomson Locations: Britain, U.S, Canada, New Zealand, Australia, China, Sydney

☆ Chevron takeover of Hess resurrects multi-billion dollar tax shield
▼ + stars: | 2023-11-14 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +5 min

“The tax benefits were definitely factored into how Chevron valued Hess,” said Donald Williamson, an accounting professor at American University’s Kogod School of Business. “When you combine the companies, we have the greater U.S. income, and we can use those net operating losses,” he said. The bottom line effect, when that loss limit is multiplied by the U.S. federal tax rate of 21%, is extra cash flow that could top $400 million a year. “There’s a strong and appropriate case to increase the corporate income tax rate.”Last year, corporate tax revenue totaled a record $425 billion, according to the Congressional Budget Office. Over the past decade, Chevron's current U.S. federal tax expense has averaged $40 million a year.

Persons: Dado Ruvic, Hess, ”, Donald Williamson, “, Pierre Breber, Williamson, Jim Seida, Jean Ross, Exxon, Darren Woods, ” Woods, Tim McLaughlin, Marguerita Choy Organizations: Chevron, Hess, REUTERS, Kogod School of Business, Internal Revenue Service, U.S, University of Notre Dame, Center for American Progress, Congressional, Graphics, Exxon Mobil, Pioneer Resources, Exxon, Reuters, Boston College, Thomson Locations: U.S, Chevron

☆ German government supports Siemens Energy with $8 bln guarantees
▼ + stars: | 2023-11-14 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. Private banks were expected to provide Siemens Energy with guarantees worth 12 billion euros while Siemens Energy would seek another 3 billion from other sources, the statement said, adding it was conditional on the final sign-off of all parties. "We are pleased with the German government's clear support for Siemens Energy and the commitment to the rapid implementation of projects to make the energy transition a success," Siemens Energy said in a statement. Shares in Siemens AG rose 2.7% at 1517 GMT on the deal while Siemens Energy shares were up 0.3%. Siemens AG, which spun off Siemens Energy in 2020, is also expected to provide support by buying most of the 24% stake Siemens Energy owns in Siemens Ltd (SIEM.NS), an Indian joint venture, sources have told Reuters.

Persons: Dado, Marco Buschmann, Buschmann, Christian Kraemer, Alexander Hübner, Christoph Steitz, Linda Pasquini, Madeline Chambers, Matthias Williams, Kirsti Knolle, David Evans Organizations: Siemens Energy, REUTERS, Rights, Siemens AG, Reuters, Siemens Ltd, Siemens, RTL, ntv, Thomson Locations: Indian

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - A federal judge on Tuesday rejected efforts by major social media companies to dismiss nationwide litigation accusing them of illegally enticing and then addicting millions of children to their platforms, damaging their mental health. The decision covers hundreds of lawsuits filed on behalf of individual children who allegedly suffered negative physical, mental and emotional health effects from social media use including anxiety, depression, and occasionally suicide. "Today’s decision is a significant victory for the families that have been harmed by the dangers of social media," the plaintiffs' lead lawyers - Lexi Hazam, Previn Warren and Chris Seeger - said in a joint statement. More than 140 school districts have filed similar lawsuits against the industry that are also before Gonzalez, and 42 states plus the District of Columbia last month sued Meta for youth addiction to its social media platforms. She cited as an example allegations that companies could have used age-verification tools to warn parents when their children were online.

Persons: Dado Ruvic, Yvonne Gonzalez Rogers, Lexi Hazam, Previn Warren, Chris Seeger, Gonzalez, Meta, Rogers, Jonathan Stempel, Nate Raymond, Chizu Nomiyama, Matthew Lewis, Alexia Garamfalvi, Aurora Ellis Organizations: REUTERS, of Columbia, U.S, Communications, Thomson Locations: Oakland , California, New York, Boston

☆ EU loophole lets banks dodge ECB's crypto supervision, needs fixing -Enria
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

He warned the EU's framework placed banks' activity as a 'crypto-asset service provider' -- such as acting as a custodian for customer wallets, exchanging tokens or managing crypto portfolios -- outside of the ECB's purview as a banking supervisor. "In fact, if crypto-asset service providers controlled by banks are not within the scope of their prudential consolidation, the BCBS standard and especially the exposure limit may become ineffective." He added crypto asset service providers should be added "as a matter of urgency" to the list of financial institutions that the ECB supervises under EU rules. MiCAR entered into force at the end of June and will take full effect by the end of next year. The Basel Committee's global standards on exposures to crypto assets are due to be transposed into EU law by Jan. 1, 2025.

Persons: Dado Ruvic, Andrea Enria, Enria, MiCAR, Jan, Claudia Buch, Francesco Canepa, Susan Fenton Organizations: REUTERS, Rights, Central Bank's, Banking, ECB, prudential, EU, Thomson Locations: EU, Venice, Basel

☆ U.S. Treasury yields have peaked, say strategists for fourth straight month
▼ + stars: | 2023-11-14 | by ( Sarupya Ganguly | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBENGALURU, Nov 14 (Reuters) - U.S. Treasury yields will fall in coming months, though not as sharply as forecast previously, according to bond strategists polled by Reuters, who said for a fourth month running in even greater numbers that the 10-year note yield had peaked. The benchmark 10-year Treasury note yield breached the 5% mark last month for the first time since July 2007, more than a full percentage point above its August low of 3.96%. Yet, when asked whether the 10-year note yield had peaked in the current cycle, an overwhelming 94% majority of respondents, 30 of 32, said it had. The interest-rate sensitive 2-year Treasury note yield , currently at 5.04%, was expected to decline about 20 basis points by end-January, before falling to 4.00% in a year, according to the survey. If realized, this would mean a complete reversal of the inverted spread between yields of U.S. 2-year and 10-year Treasury notes - historically a reliable indicator of impending recession - by end-October 2024.

Persons: Dado Ruvic, Thomas Simons, Mike Sanders, Sarupya Ganguly, Prerana Bhat, Purujit Arun, Anitta Sunil, Sujith Pai, Christina Fincher Organizations: REUTERS, Rights, Treasury, Reuters, Federal Reserve, Hamas, Jefferies, Madison Investments, Thomson Locations: U.S, Israel

☆ Spanish government in talks with banks to support Siemens Gamesa
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsMADRID, Nov 14 (Reuters) - The Spanish government said on Tuesday it is working with banks to provide financial support to Siemens Gamesa, with the ultimate aim of protecting the workers the company employs in the country. "The future of Siemens Gamesa in Spain is a priority for the government," the Industry Ministry said in a statement. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide and has warned troubles with its onshore wind turbines could take years to resolve. In Spain, the industry minister considers the government has several avenues of funding and support for the wind industry in the short term.

Persons: Dado, Siemens Gamesa, Corina Pons, Stephen Coates Organizations: Siemens Energy, REUTERS, Rights, Siemens Gamesa, Industry Ministry, Siemens, Thomson Locations: Rights MADRID, Germany, Spain

☆ Imperial Brands expects profit growth next year, raises dividend
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - Imperial Brands (IMB.L) on Tuesday forecast revenue and profit growth next year led by the second half helped by pricing actions and investments in tobacco alternatives. The maker of Winston cigarettes, Backwoods cigars and Golden Virginia rolling tobacco reported an adjusted operating profit of 3.89 billion pounds ($4.78 billion) for the year ended Sept. 30, up from 3.69 billion. Imperial said next year it anticipates low-single-digit revenue growth, while it expects adjusted operating profit close to the middle of its mid-single digit range. This means adjusted operating profit will likely grow by low single digits in the first half, it continued. Imperial raised its annual dividend by 4%, and said its ongoing multi-year share buyback would increase 10% in 2024.

Persons: Dado Ruvic, Winston, Stefan Bomhard, Imperial, Eva Mathews, Emma Rumney, Subhranshu Sahu, Jason Neely Organizations: Imperial Brands, REUTERS, Thomson Locations: Virginia, Bengaluru, London

☆ As Exxon eyes lithium, crucial decision looms on filtration technology
▼ + stars: | 2023-11-14 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

Choosing which DLE technology to license will be a crucial decision upon which Exxon's production of the battery metal will rely. The company has held talks with a range of DLE technology providers, including International Battery Metals (IBAT.CD) and privately held EnergySource Minerals. "We haven't chosen a (DLE) company yet. Because it not yet chosen a DLE technology, Exxon also has not yet forecast how much lithium it ultimately aims to produce. Exxon is also studying where else in the world it could produce lithium, Howarth said.

Persons: Dado Ruvic, Patrick Howarth, Howarth, we'll, Ernest Scheyder, David Gregorio Our Organizations: Exxon Mobil, REUTERS, Reuters, Rio Tinto, International Battery Metals, EnergySource, Exxon, Tetra Technologies, Thomson Locations: ., Arkansas, Sunresin, Rio, Los Angeles

☆ Turkish parliament commission to debate Sweden NATO bid Thursday
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

NATO, Turkish, Swedish and Finnish flags are seen in this illustration taken May 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsANKARA, Nov 14 (Reuters) - The Turkish parliament's foreign affairs commission will debate a bill approving Sweden's NATO membership on Thursday, according to the official agenda of the commission. President Tayyip Erdogan submitted the bill to parliament for ratification three weeks ago, in a move welcomed by NATO and Stockholm. The bill must be approved by parliament's foreign affairs commission before a vote by the full general assembly. NATO foreign ministers will meet in Brussels on Nov. 28-29.

Persons: Dado Ruvic, Tayyip Erdogan, Erdogan, Jonathan Spicer Organizations: REUTERS, Rights, NATO, Thomson Locations: Rights ANKARA, Turkish, Stockholm, Turkey, Ankara, Sweden, Brussels, Finland, Ukraine, Hungary

☆ Some fund managers see merit in China's deeply discounted stocks
▼ + stars: | 2023-11-14 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

U.S. asset manager Fidelity International is highlighting China's looser monetary policy and the government's recent 1 trillion yuan ($137.10 billion) borrowing-and-spending sovereign bond plan as a tailwind for the country's stock markets. London-based £3 billion fund manager Somerset Capital Management likewise finds China exciting. The stock market has yet to recover, but has stabilised. Morgan Stanley estimates long-only foreign investors now have their deepest underweight positions in China and Hong Kong equities in years. Chinese stocks could see a short-term sentiment pick-up given foreign funds have such light positions in the market, said Redmond Wong, Greater China market strategist at Saxo Markets.

Persons: Dado Ruvic, ”, Marty Dropkin, Mark Williams, Morgan Stanley, Patrick Ghali, Sean Ho, Vivek Tanneeru, Redmond Wong, Summer Zhen, Xie Yu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Fidelity, Asia Pacific, Fidelity International . London, Somerset Capital Management, Nasdaq, Japan’s Nikkei, Sussex Partners, Hong, China, Hang Seng Tech, Monetary Fund, Cambridge Associates, Capital, “, Triata, Matthews Asia, Saxo Markets, Thomson Locations: HONG KONG, China, U.S, Asia, Hong Kong, London, Boston, San Francisco, Greater China

☆ Airbnb acquires AI startup GamePlanner.AI
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Figurines are seen in front of the Airbnb logo in this illustration taken February 27, 2022. GamePlanner.AI was co-founded by Adam Cheyer, who was also one of the founders of Apple's voice assistant Siri. The startup will add to Airbnb's existing set of AI technologies that include large language models, computer vision models and machine learning. "AI will rapidly alter our world more than any other technology in our lifetime," Airbnb CEO Brian Chesky said in the statement. Other travel companies, including Booking.com and Expedia have also made efforts to integrate AI to their existing technologies in an attempt to enhance customer-booking experiences and create more suitable itineraries and suggestions.

Persons: Dado Ruvic, GamePlanner.AI, Adam Cheyer, Siri, Brian Chesky, Priyamvada, Shilpi Majumdar Organizations: REUTERS, CNBC, Thomson Locations: Bengaluru

☆ Senator asks Treasury to bar Chinese battery firms, minerals from US EV tax credits
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, U.S. and Chinese flags are seen in this illustration taken, September 26, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Democratic Senator Joe Manchin urged the U.S. Treasury on Monday to adopt the "strictest possible standards" to prevent Chinese-produced minerals or Chinese battery companies from winning electric vehicle tax credits. In 2022, Congress passed the Inflation Reduction Act barring $7,500 in future consumer EV tax credits if any battery components are manufactured or assembled by a "foreign entity of concern." The foreign entity of concern rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. A key decision in the guidance is whether Ford Motor Co's (F.N) deal to license the technology of Chinese battery manufacturer CATL (300750.SZ) for use in Ford-owned U.S. battery plants will meet the Treasury's standards to access the tax credits.

Persons: Dado Ruvic, Joe Manchin, Manchin, Janet Yellen, Ford, David Shepardson, Chris Reese, Jonathan Oatis Organizations: REUTERS, Rights, Democratic, U.S . Treasury, Energy Committee, Treasury, Ford, Thomson Locations: China, Michigan

☆ US rate cut not seen until Q4 2024 due to strong GDP growth -Goldman economists
▼ + stars: | 2023-11-13 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +2 min

Goldman projects the Fed to deliver its first rate cut in the fourth quarter of 2024 once a key inflation gauge falls below 2.5%. Goldman then expects one 25 basis point cut per quarter until the second quarter of 2026, when the fed funds rate would reach 3.5-3.75%, a "higher equilibrium rate than last cycle." By contrast, traders are expecting the Fed to cut rates starting in the middle of 2024, according to LSEG data. That is similar to the forecast from Morgan Stanley economists, who said in a report that they expect the first 25 basis point cut in June 2024. The initial rate cut will be followed by cuts at three more Fed meetings next year and at every meeting in 2025, Morgan Stanley said in its economics outlook report.

Persons: Dado Ruvic, Goldman Sachs, David Mericle, Goldman, Morgan Stanley, Lewis Krauskopf, David Gregorio Our Organizations: REUTERS, U.S . Federal, Goldman, Thomson Locations: U.S

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. ET (1500 GMT) with a 152 strike price, analysts said. The dollar shot to 151.92 yen at 9:42 a.m. (1442 GMT), its highest level since October 2022, and then tumbled to 151.20 minutes after the strike price. Earlier, Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The yen is down almost 14% against the dollar this year.

Persons: Dado Ruvic, Shunichi Suzuki, Marc Chandler, It's, Chandler, Jerome Powell, Geoff Yu, Sterling, Rishi Sunak, Sunak, David Cameron, Suella Braverman, Dhara Ranasinghe, Brigid Riley, Emelia Sithole, Sharon Singleton, Jonathan Oatis Organizations: REUTERS, Japanese Finance, Bank of Japan, Bannockburn Global, United Auto Workers, Federal Reserve, BNY Mellon, British, Thomson Locations: Bannockburn, New York, U.S, Tokyo, Japan, TOKYO

☆ Exxon to start lithium production for EVs in the U.S. by 2027
▼ + stars: | 2023-11-13 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

[1/2] Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Ammann did not disclose how much Exxon intends to invest in the lithium business, or when it might become profitable. Exxon plans to begin production with partner Tetra Technologies, Reuters exclusively reported on Saturday. It will produce the metal onsite and sell it under the brand name Mobil Lithium, the company said on Monday. Exxon is focusing on lithium production to be used not only in EVs but also consumer electronics and energy storage systems that can hold electricity generated from intermittent solar and wind power.

Persons: Dado Ruvic, Dan Ammann, Ammann, Sabrina Valle, Sourasis Bose, Maju Samuel, Bernadette Baum Organizations: Exxon Mobil, REUTERS, Companies, Exxon, Tetra Technologies HOUSTON, Exxon's, Imperial, Tetra Technologies, Reuters, Mobil, BP, Shell, Deloitte, Thomson Locations: China, United States, Europe, Arkansas, U.S, Alberta, Canada, Houston, Bengaluru

☆ Dollar rallies to fresh one-year high against a beaten-down yen
▼ + stars: | 2023-11-13 | by ( Dhara Ranasinghe | Thomson Reuters | Senior Correspondent On The London Markets Team Covering European Sovereign Bond Markets | ) www.reuters.com time to read: +3 min

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The comments had little immediate impact on the yen, which is down almost 14% against the dollar this year. "Given the move in U.S. Treasuries of course the yen is not rallying yet," he said, referring to U.S. bond yields. The dollar on Monday rose to 151.88 yen , its highest level since October 2022.

Persons: Dado Ruvic, Shunichi Suzuki, Sterling, inched, Rishi Sunak, Kit Juckes, Jerome Powell, Geoff Yu, Sunak, David Cameron, Suella Braverman, Dhara Ranasinghe, Brigid Riley, Emelia Sithole, Sharon Singleton Organizations: REUTERS, U.S . Federal, Finance, British, Generale, BNY Mellon, Thomson Locations: U.S, Japan, Tokyo, TOKYO

☆ Google-parent Alphabet dissolves stake in trading app Robinhood
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Robinhood logo is seen on a smartphone in front of a displayed same logo in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 13 (Reuters) - Google-parent Alphabet (GOOGL.O) said on Monday it had dissolved its stake in trading app operator Robinhood Markets (HOOD.O). The disclosure comes months after Alphabet slashed its stake in the company by nearly 90%. Alphabet had reportedly invested in Robinhood when the latter was an unlisted startup that had captured the enthusiasm of retail traders with its commission-free trades and easy-to-use interface. In its third quarter earnings report last week, Robinhood missed Wall Street estimates for revenue, weighed by a slowdown in trading.

Persons: Dado Ruvic, Robinhood, Niket, Pooja Desai Organizations: REUTERS, Thomson Locations: Robinhood, Bengaluru

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. The U.S. Energy Information Administration (EIA) said last week crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall. That is "not a prospect that crude oil will welcome given that recent data in China and the U.S. has brought growth fears back to the surface," he said. Weak economic data last week from China, the world's biggest crude oil importer, increased fears of faltering demand. Additionally, refiners in China asked for less supply from Saudi Arabia, the world's largest exporter, for December.

Persons: magnifier, Dado Ruvic, Baker Hughes, Brent, Hiroyuki Kikukawa, Jerome Powell, Tony Sycamore, Kikukawa, Yuka Obayashi, Colleen Howe, Lincoln, Bernadette Baum Organizations: REUTERS, U.S . Federal, U.S . West Texas, NS, Nissan Securities, U.S . Energy Information Administration, IG, U.S, Organization of, Petroleum, Thomson Locations: BEIJING, United States, China, U.S, Iraq, Israel, refiners, Saudi Arabia, Russia

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