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☆ The White House 180 on F-16s for Ukraine is complete
▼ + stars: | 2023-08-26 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The Biden administration on Thursday announced plans to begin F-16 pilot training for Ukrainian troops. The offering is a marked shift from Biden's original position of not providing F-16s or training. In February, he ruled out providing F-16s; by May, he supported allies supplying jets. Russia's superior air power has been challenging for Ukrainian troops to overcome. Representatives for the White House and Ukraine Ministry of Defense did not immediately respond to Insider's requests for comment.

Persons: Biden, Pat Ryder, Volodymyr Zelenskyy, Joe Biden, It's, James Hecker Organizations: Ukrainian, Service, Morris Air National Guard Base, Pentagon Press, Air Force, ABC News, White, Ukraine Ministry of Defense, SA, US Air Forces Locations: Wall, Silicon, Tuscon , Arizona, Ukraine, Russia, Hiroshima, Netherlands, Denmark, Europe

☆ South Africa flyhalf Jantjies reveals failed drug test
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

Aug 26 (Reuters) - South Africa flyhalf Elton Jantjies said he had tested positive for the banned substance Clenbuterol, but denies intentionally ingesting the substance as he faces a ban that could end his career. Janties played for French second-tier side Pau this past season and has not turned out for the Boks this year. South African Rugby confirmed they are aware of the failed test. "SA Rugby has noted the statement issued on behalf of Elton Jantjies and confirms it was advised of the adverse finding. Former Springbok wing Aphiwe Dyantyi has recently returned to professional rugby following a four-year ban after he failed a drugs test in December 2019.

Persons: South Africa flyhalf Elton Jantjies, Jantjies, Janties, Elton Jantjies, Dyantyi, Nick Said, Pritha Sarkar Organizations: Springboks, Rugby, South African Institute for Drug, South African Rugby, SA Rugby, Springbok, Thomson Locations: South Africa, France, Pau, Durban

☆ JPMorgan: The world's food supplies face a bleak future. These are the 3 biggest threats, and the companies best-positioned to tackle food insecurity.
▼ + stars: | 2023-08-25 | by ( Mark Reeth | ) www.businessinsider.com time to read: +10 min

Investors need to know exactly where the threats to the world's food supply are coming from, what themes are beginning to emerge in this new reality, and how they should be investing. New threats to the world's food supplyIn her report, Chang highlighted the ongoing problems affecting the world's food supply: war, weather, and the weaponization of food. One of the most devastating recently implemented restrictions on food supply is India's decision to ban the exportation of non-Basmati white rice. The combination of war, weather, and the weaponization of food has taken a toll on the world's food availability. And within food innovation, JPMorgan analysts like Philippine food and beverage maker Monde Nissin (MONDE PM) and Thailand-based seafood producer Thai Union (TU TB).

Persons: UNICEF — that's, Global Research Joyce Chang, Chang, El, Hilary, CJ Cheiljedang, Mengniu Dairy, Kubota, Jeronimo Martins SGPS Organizations: JPMorgan, Hurricanes, UNICEF —, Global Research, Grain Initiative, Food Policy Research, Food, Agriculture Commodities, ASEAN, Mahindra, LG, Thai Union, TU, Jeronimo Martins SGPS SA, Tesco PLC, J Sainsbury PLC, Koninklijke Ahold Delhaize, Carrefour SA, Yara International ASA, OCI, OCI NA, Bayer AG, PepsiCo Locations: Ukraine, California, Canada, East Coast, Russia, Africa, Asia, India, El, South Korean, HK, South Korea, Philippine, Thailand, Europe

Putin's comments, which suggested he harboured decidedly mixed feelings about Wagner's mercenary boss, were the most definitive yet on Prigozhin's fate. It remains to be seen too how Wagner fighters, some of whom have already spoken of betrayal and foul play, react. Pledging a thorough investigation which he said would take time, Putin said that "preliminary data" indicated that Prigozhin and other Wagner employees had been on the downed plane. A cameraman films a wreckage of the private jet linked to Wagner mercenary chief Yevgeny Prigozhin near the crash site in the Tver region, Russia, August 24. The mutiny was ended by an apparent Kremlin deal which saw Prigozhin agree to relocate to neighbouring Belarus.

Persons: Putin, Vladimir Putin, Yevgeny Prigozhin, Prigozhin, Wagner, It's, Ramzan Kadyrov, Marina Lystseva, Kadyrov, Anatoly, Prigozhin's, Sergei Shoigu, Valery Gerasimov, Andrew Osborn, Nick Macfie, Andrew Heavens, Stephen Coates Organizations: Reuters, U.S . Department of Defense, REUTERS, Marina, Embraer, SA, Telegram, Wagner Group, Wagner, General Staff, Thomson Locations: MOSCOW, Moscow, U.S, Washington, Ukraine, Africa, Kremlin, Donetsk, Tver, Russia, St . Petersburg, Kuzhenkino, Grey, Belarus

Firefighters work amid aircraft wreckage at an accident scene following the crash of a private jet in the Tver region, Russia, August 23, 2023. Yevgeny Prigozhin, chief of Russian private mercenary group Wagner, was reportedly listed as a passenger on a private jet which crashed north of Moscow on August 23, 2023. Within about 30 seconds, the aircraft had plummeted more than 8,000 feet from its cruising altitude of 28,000 feet. “Whatever happened, happened quickly,” Petchenik said. “They may have been wrestling (with the aircraft) after whatever happened," Petchenik said.

Persons: Yevgeny Prigozhin, Wagner, Prigozhin, ”, Ian Petchenik, ” Petchenik, “, Petchenik, Flightradar24, Valerie Insinna, Allison Lampert, Gabriel Araujo, Caroline Pulice, Cynthia Osterman Organizations: Acquire, Embraer, EMBR3, ”, Reuters, planemaker Embraer SA, Russia, Thomson Locations: Tver, Russia, Moscow, St . Petersburg, Kuzhenkino, Tver Region, Flightradar24, Russian, Belarus, Washington, Montreal, Sao Paulo, Mexico City

☆ Brazil clears bottlenecks to oust US as top corn exporter
▼ + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com time to read: +7 min

"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.

Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato

A cameraman films a wreckage of the private jet linked to Wagner mercenary chief Yevgeny Prigozhin near the crash site in the Tver region, Russia. Neither referenced the plane crash in which 10 people were said to have been killed. A Reuters reporter at the crash site on Thursday morning saw men carrying away black body bags on stretchers. Unnamed sources told Russian media they believed the plane had been shot down by one or more surface-to-air missiles. SECOND PLANE LINKED TO PRIGOZHINFlightradar24 online tracker showed that the plane had dropped off the radar at 6:11 p.m. (1511 GMT).

Persons: Wagner, Yevgeny Prigozhin, Marina Lystseva, Prigozhin, Vladimir Putin, Sergei Lavrov, Anatoly, Putin, WAGNER, Dmitry Utkin, Abbas Gallyamov, Gallyamov, Bill Browder, Browder, Joe Biden, I’m, Biden, Sergei Shoigu, Valery Gerasimov, Andrew Osborn, Angus MacSwan Organizations: Marina, Defence Ministry, Embraer, SA, Reuters, Telegram, Kremlin, Twitter, General Staff, Thomson Locations: Tver, Russia, MOSCOW, Ukraine, South Africa, Moscow, St, Petersburg, Kuzhenkino, Russian, St . Petersburg, Grey, Africa, Belarus

Russian authorities said Prigozhin was listed as a passenger on a private jet that crashed on Wednesday evening, killing all those onboard. Russia's TASS news agency said the plane was a Brazilian Embraer jet. Embraer (EMBR3.SA) on Wednesday said it was aware of a Legacy 600 plane crash in Russia, but that did not have further information about the case. Flightradar24 online tracker showed that the Embraer Legacy 600 (plane number RA-02795) said to be carrying Prigozhin had dropped off the radar at 6:11 p.m. local time (1511 GMT). The Legacy 600 entered service in 2002, according to International Aviation HQ, with almost 300 produced until production ceased in 2020.

Persons: Denis Balibouse, Wagner, Yevgeny Prigozhin, Prigozhin, Allison Lampert, Gabriel Stargardter, Rosalba O'Brien, Josie Kao Organizations: Embraer, European Business Aviation Convention, REUTERS, International Aviation, Russia's TASS, Brazilian Embraer, EMBR3, Thomson Locations: Geneva, Switzerland, Russia, Brazilian, Brazil, United States

☆ New video captures the moment Ukrainian forces destroyed a Russian S-400, a rare loss of a prized and formidable air-defense system
▼ + stars: | 2023-08-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Ukraine published a video on Wednesday showing the moment it destroyed a Russian S-400. The S-400 is formidable air-defense system that has drawn comparisons to the US Patriot battery. Kyiv's military intelligence said in a statement that the attack dealt a "painful blow" to Russia. Russia's advanced S-400 Triumf is a mobile, surface-to-air system that's capable of shooting down targets at high altitudes and long ranges. According to open-source intelligence site Oryx, Moscow's military had lost just three S-400 launchers and one command post for the system.

Persons: that's, HUR, Anton Gerashchenko, ANDREY SMIRNOV, It's, Kyrylo Budanov, Budanov, Wednesday's Organizations: US Patriot, Service, Ukrainian, Directorate of Intelligence, American Patriot, Getty, Kyiv Locations: Ukraine, Russian, Russia, Wall, Silicon, Crimean, Olenivka, Kyiv, Crimea, Moscow, British, Western, Kerch

☆ Ex-CEO of Brazil's Americanas says he did not expect to lead bankrupt firm
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - The former head of Brazilian retailer Americanas (AMER3.SA) quit two weeks into the job because he had not expected to take over a bankrupt firm, he told Brazilian lawmakers probing its $5 billion accounting fraud on Tuesday. Former Chief Executive Sergio Rial, who testified in a congressional investigation, resigned on Jan. 11, the same day Americanas revealed accounting inconsistencies that were later found to be fraud. I did not buy into an insolvent project," he told lawmakers, saying he had not expected Americanas' debt to exceed its assets. Rial in March testified before senators saying Americanas' previous management had created difficulties in disclosing information about the company's situation and the succession process. Reporting by Carolina Pulice and Peter Frontini; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Rial, Rial, Americanas, Carolina Pulice, Peter Frontini, Cynthia Osterman Organizations: SA, Jan, Santander Brasil, 3G, Thomson

☆ Cleveland-Cliffs demands U.S. Steel to reveal all buyout offers
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. U.S. Steel, which rejected Cliffs' $7.3 billion cash-and-stock offer as inadequate, had earlier said it was exploring "multiple unsolicited proposals". The stance comes after the USW said last week it would only back Cleveland-Cliffs as a suitor for the company. Even if U.S. Steel has not received any bids, the company must acknowledge that no such proposals have been received, Cleveland-Cliffs said. U.S. Steel had also attracted a $7.8 billion all-cash offer from Esmark Inc and a potential acquisition interest from ArcelorMittal SA (MT.LU).

Persons: Lawrence Bryant, USW, Lourenco Goncalves, Priyamvada, Krishna Chandra Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Tuesday U.S . Steel, United Steelworkers, . Steel, U.S, Steel, Cliffs, Esmark Inc, ArcelorMittal SA, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, Bengaluru

Southeast Asia's second-largest economy has been hobbled by slackening global growth, led by its main trading partner China and falling investor confidence due to a protracted period without a government following elections in May. On a quarterly basis, GDP rose a seasonally adjusted 0.2% in the June quarter, also sharply under a forecast rise of 1.2%. The global demand weakness prompted the government to cut its 2023 GDP growth forecast to between 2.5% and 3.0% from a range of 2.7% to 3.7%. As weak global demand crimps exports, Thailand's economy has been supported by its vital tourism sector and private consumption growth. It projected exports to drop 1.8% in 2023 versus an earlier forecast for a 1.6% fall.

Persons: Danucha Pichayanan, Pheu, Srettha Thavisin, Danucha, Orathai Sriring, Kitiphong, Martin Petty Organizations: China, National Economic, Social Development Council, Thomson Locations: BANGKOK, Thailand

☆ Ukraine is closer to having F-16s, but don't expect them to suddenly start 'taking down' Russia's formidable air defenses, top US general says
▼ + stars: | 2023-08-18 | by ( Christopher Woody | Jake Epstein | ) www.businessinsider.com time to read: +7 min

In addition to anti-radar missiles, Ukrainian jets have employed US-made guided bombs, which Russia has countered with electronic warfare. While F-16s would allow Ukraine to better employ those weapons, Hecker said Russia's military will continue to adapt and adjust. "It allows us to follow through on the training of Ukrainian pilots. Although the timeline has been somewhat unclear, Denmark — one of 11 countries in the coalition — announced on Friday that it would start training pilots later this month. But training and equipping Ukrainian airmen to operate F-16s and other sophisticated jets will be a long-term project, Hecker said Friday.

Persons: Ukraine's, James Hecker, " Hecker, JOHN THYS, Hecker, It's, you'll, Beata Zawrzel, Kajsa Ollongren, Wopke Hoekstra, Antony Blinken, Pat Ryder, Yasuo Osakabe, US Air Force Hecker, they're, that's, it's Organizations: Service, US Air Force, US Air Forces, Defense Writers, Siauliai, NATO, Getty Images, SA, NATO Summit, Defense, —, Pentagon, Air Force, Yokota Air Base, Alpha Jet Locations: Ukraine, Wall, Silicon, Denmark, Netherlands, Europe, Romanian, Lithuania, AFP, Russia, Ukrainian, Vilnius, Japan, France

☆ U.S. Steel says union cannot block company's sale
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Quinn Glabicki/File Photo Acquire Licensing RightsAug 17 (Reuters) - U.S. Steel (X.N) said on Thursday that its labor agreement with United Steel Workers (USW) does not afford the union the right to veto a sale of the company that may arise from its recently announced strategic review. The union said that "over the years, Cliffs has shown itself to be an outstanding employer to all of its workers." U.S. Steel, which rejected Cliffs' $7.8 billion cash-and-stock offer as inadequate, has said it is exploring "multiple unsolicited proposals". In a regulatory filing, U.S. Steel said its agreement with the union gives it the right to counter with its own acquisition offer for assets covered under their bargaining agreement. If the union does not make an offer its board deems superior, U.S. Steel can sell itself to the bidder of its choosing.

Persons: . Steel Edgar Thompson, Quinn Glabicki, USW, Ananta Agarwal, David Gregorio Our Organizations: ., REUTERS, . Steel, United Steel Workers, Cliffs Inc, U.S . Steel, Esmark Inc, ArcelorMittal SA, Steel, U.S, Thomson Locations: Braddock , Pennsylvania, U.S, Cleveland, Bengaluru

The Adyen share plunge "was because expectations were much higher. Analysts believed that Adyen would take significantly more share in this difficult market environment," said Jefferies equity analyst Hannes Leitner. Was the share price reaction justified? One European equities trader, who asked not to be named, noted there were orders to sell Adyen shares at any price and referred to "apocalypse selling." According to data from Refinitiv, 17 analysts rated Adyen "buy", 12 "hold", and 4 "sell" before the earnings announcement.

Persons: Eva Plevier, Jefferies, Hannes Leitner, Refinitiv, Adyen, Worldline, Italy's, Marco Simion, Pieter van der, ”, Samuel Indyk, Elizabeth Howcroft, Danilo Masoni, Toby Sterling, Dhara, Alun John, Cynthia Osterman Organizations: REUTERS, Analysts, Citigroup, UBS, KPMG, Privately, Thomson Locations: Amsterdam, Netherlands, MILAN, North America, Swiss, Adyen, EMEA, Refinitiv, London, Milan

☆ Venezuela appeals to US Supreme Court in last ditch move to limit Citgo auction
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Aug 17 (Reuters) - Venezuela is making a last ditch attempt to limit the number of companies that could participate in a court-ordered auction of shares in a parent of oil refiner Citgo Petroleum, appealing to the U.S. Supreme Court to overturn a lower court's ruling. Venezuela's petition is asking the Supreme Court to find the lower court's "alter ego" decision was faulty. It does not affect the case against Venezuela filed by miner Crystallex International, whose $970 million claim led to the proposed auction of shares. The petition seeks to have briefs filed by September 15 - just ahead of the start of the proposed auction. A Delaware court judge has set Oct. 23 as the start date for the auction.

Persons: Nicolas Maduro, Gary McWilliams, Deepa Babington, David Gregorio Our Organizations: Petroleum, U.S, Supreme, ConocoPhillips, Exxon Mobil, Tenaris SA, CITGO Petroleum Corporation, Venezuela, Crystallex, Thomson Locations: Venezuela, PDV, United States, Illinois , Louisiana, Texas, Delaware, Houston, PDVSA

[1/2] Idled blast furnaces at U.S. Steel Corp's Granite City Works in Granite City, Illinois, U.S. on on July 5, 2017. Two other U.S. rivals, Nucor Corp (NUE.N) and Steel Dynamics Inc (STLD.O), trade at 6.9 times and 5.8 times, respectively, according to Refinitiv data. These two companies' offers both value U.S. steel at 6.2 times its 2024 EBITDA, according to RBC Capital Markets analysts. Unlike blast furnaces, EAFs do not have to be operated at constant rates, allowing them to adjust to fluctuations in steel demand. EAFs also release much less carbon dioxide than blast furnaces, reducing climate-warming emissions.

Persons: David Lawder, EAFs, Joe Biden, Jefferies, David Burritt, Donald Trump, Anirban Sen, David Carnevali, Greg Roumeliotis, Sonali Paul Organizations: . Steel, REUTERS, US Steel, . Steel Corp, Cliffs Inc, Esmark Inc, Reuters, ArcelorMittal SA, Cleveland Cliffs, Nucor Corp, Steel Dynamics Inc, Steel, RBC Capital Markets, U.S, ., Steel's, U.S . Steel, Donald Trump . Supply, Thomson Locations: Granite City, Granite City , Illinois, U.S, Pittsburgh, Cleveland, New York

CNN —A landslide at a jade mine in northern Myanmar has killed at least 32 people, a local fire services official told CNN on Wednesday. The landslide took place in the remote and mountainous town of Hpakant in the northern state of Kachin on Sunday, said Sa Tay Za of the Hpakant Fire Service Department. Myanmar produces about 70% of the world’s jade and Hpakant is home to some of the world’s biggest and most lucrative jade mines, worth billions of dollars. The group estimated Myanmar’s jade industry was worth about $31 billion in 2014, nearly half of the country’s official GDP that year. More than 160 people died after heavy rain triggered a landslide in a jade mine in Hpakant in 2020.

Persons: CNN —, Sa Tay, Za Organizations: CNN, Fire Service Department, Global, Resource Governance Institute Locations: Myanmar, Hpakant, Kachin, China

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsAug 16 (Reuters) - ArcelorMittal SA (MT.LU), the world's second-largest steelmaker, is considering a potential offer for U.S. Steel Corp (X.N), three people familiar with the matter said on Wednesday. ArcelorMittal is discussing a possible offer with its investment bankers, and there is no certainty that it will press ahead with it, the sources said. Representatives for ArcelorMittal and U.S. Steel did not immediately respond to requests for comment. ArcelorMittal's deliberations come after U.S. Steel said on Sunday it had launched a process to explore interest from potential acquirers. The United Steelworkers union supports Cleveland-Cliffs' bid, however U.S. Steel has rebuffed it as "unreasonable".

Persons: Benoit Tessier, ArcelorMittal, Steel, Greg Roumeliotis, Victoria Farr, Kirsten Donovan Organizations: REUTERS, ArcelorMittal SA, U.S . Steel Corp, U.S . Steel, Cliffs Inc, Esmark Inc, Representatives, ArcelorMittal, Steel, . Steel, The United Steelworkers, Thomson Locations: Dunkirk, France, Cleveland, New York, U.S, China, Europe, Frankfurt

☆ Gold wavers near recent lows as traders bet on more U.S. rate hikes
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Spot gold held its ground at $1,903.70 per ounce by 0317 GMT, while U.S. gold futures were flat at $1,935.40. We have the U.S. retail sales data yesterday pushing back against recession concerns and potentially keeping safe-haven flows at bay," Jun Rong added. U.S. retail sales increased more than expected in July, underscoring economy's resilience despite Fed's aggressive interest rate hikes to tame inflation. Later in the day, investors will scan minutes from Fed's July policy meeting to gauge its upcoming rate strategy.

Persons: Jun Rong, Neel Kashkari Organizations: Heraeus SA, Solar, Treasury, Federal Reserve, U.S ., IG, Minneapolis Locations: Budapest, Hungary, U.S

REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.

Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario

☆ Yellen upbeat on US economy, says Bidenomics is driving investment, job growth
▼ + stars: | 2023-08-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

U.S. Treasury Secretary Janet Yellen speaks during a press conference at the U.S. embassy in Beijing, China, July 9, 2023. Yellen said China's slowing growth, Russia's war in Ukraine and climate change could still pose risks to the U.S. economy and did not rule out a recession, but she felt upbeat. "I feel very good about U.S. prospects overall," Yellen told reporters, noting that inflation and the unemployment rate had both dropped below 4%, and that the U.S. economy was continuing to expand. "These are real Americans back at work – able to put food on the table, support their families, and save for retirement." Reporting by Andrea Shalal in Las Vegas; Editing by Diane Craft, Matthew Lewis and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Thomas Peter, Joe Biden's, Yellen, Biden, Andrea Shalal, Diane Craft, Matthew Lewis, Sonali Paul Organizations: Treasury, U.S, REUTERS, Thomas, Thomas Peter Companies Ipsos, LAS, International Brotherhood of Electrical Workers, National Conference of State Legislators, Workers, International Energy Agency, Thomson Locations: Beijing, China, Nevada, Vegas, United States, Ukraine, U.S, Las Vegas

An Embraer E195-E2 Profit Hunter aircraft is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier//File PhotoSAO PAULO, Aug 14 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday shot past market estimates for second-quarter results, with its chief executive voicing optimism about upcoming quarters for the company. "Despite the supply chain challenges, we are very optimistic about this year after a good Q2," Gomes Neto said. "We're working hard so next year we can better spread out production and deliveries throughout the year, which will further improve the company's performance," Gomes Neto added. The planemaker reported a 25% increase in second quarter adjusted net profit to $57.9 million, more than double the $24.3 million forecast by analysts polled by Refinitiv.

Persons: Benoit Tessier, Francisco Gomes Neto, Gomes Neto, BTG Pactual, Gabriel Araujo, Jason Neely, Barbara Lewis, Sharon Singleton Organizations: Embraer, Hunter, International Paris Air, Le, REUTERS, SAO PAULO, EMBR3, Airbus, Boeing, Refinitiv, JPMorgan, Thomson Locations: Le Bourget, Paris, France

☆ Yellen warns of risks of over-concentration of clean energy supply chains
▼ + stars: | 2023-08-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

"As we move away from fossil fuels, we remain concerned about the risks of over-concentration in clean energy supply chains," she said in excerpts of the speech obtained by Reuters. "Today, the production of critical clean energy inputs – from batteries to solar panels to critical minerals – is concentrated in a handful of countries." "The IRA is helping re-shore some of the production that is critical to our clean energy economy," she said. "Accelerating these transitions can mean greater demand for U.S. clean energy technologies produced by American workers. It can also bolster global clean energy supply chains.”Yellen will speak at a training center operated by the International Brotherhood of Electrical Workers (IBEW) union.

Persons: Janet Yellen, Thomas Peter, laud, Yellen, Joe Biden, Biden, Andrea Shalal, Diane Craft Organizations: Treasury, U.S, REUTERS, Thomas, Thomas Peter Companies Ipsos, LAS, Reuters, International Energy Agency, Democratic, International Brotherhood of Electrical Workers, Thomson Locations: Beijing, China, United States, U.S, Las Vegas, Democratic Republic of Congo, Indonesia, Australia, Chile, Nevada

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