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Chile investigates Antofagasta’s Los Pelambres Mine after rainwater discharge
Antofagasta Minerals, a Chilean copper mining company, said on Thursday that its flagship mine Los 'Pelambres is safe following an investigation by Chile's environmental regulator into a water discharge incident caused by extreme weather. On Wednesday, the regulator said that Antofagasta released water into the Pupio Waterway from a drainage pool after heavy rains caused an?avalanche near the site. Antofagasta has said that the controlled release of water from two pools downstream the tailings?dam?wall was part of its water management system. Water from the tailings dam was channeled to the Pupio stream whose flow had already increased significantly because of rain. The company reported that the tailings pond was "stable and in accordance with its design parameters and safety parameters with no risk to people or surrounding?environment." * The regulator stated that it will continue to evaluate whether any further action is needed. Chile has been hit by heavy rains?from the north-central region to the south causing flooding, road closures, and home damage. * Copper mines are usually prepared for winter with contingency plans. However, the intensity of the storm has forced some to reduce their activities. *?Los Pelambres is the largest copper mine in Antofagasta, located in Chile's Coquimbo region.
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Officials say five Palestinians were killed in an Israeli strike and violence in the West Bank.
According to Palestinian officials and the Israeli military, an Israeli airstrike on Thursday killed two Palestinians, including two children, in northern Gaza. Three other Palestinians were also shot dead in the West Bank. Israel's military claimed it had targeted "militants" in Gaza. A senior Israeli military official confirmed that a civilian killed two Palestinians after they had stabbed an Israeli and injured him during a dispute. After a separate stabbing attack in which an Israeli soldier was injured, the Israeli military confirmed that its forces had shot a third Palestinian. Israel has launched nearly daily attacks on Gaza in what it claims are attacks against Hamas militants. This is more than nine month after the U.S.-backed "ceasefire" in the enclave. According to Palestinian and Israeli statistics, more than 1,160 Palestinians as well as four Israeli soldiers were reported dead since the fragile truce began in October. Palestinian medics claim that the majority of those killed are civilians. The Palestinian Authority's official media agency WAFA reported that Israeli soldiers and settlers attacked Palestinians in the West Bank as they attempted to extinguish a nearby fire. Two Palestinians stabbed a soldier, according to an Israeli military official. "Friction" broke between Israeli settlers and Palestinians while trying to put out the fire. Official, who did not want to be named, claimed that an Israeli "civilian", which is an apparent reference of a settler killed the two Palestinians. The West Bank has been a hotbed of tensions due to the escalating violence between Israelis and settler groups, as well as Israeli plans to expand settlements in territory Palestinians consider a "key" part of their future state. Around 700,000 Israelis live with 2.7 millions Palestinians in the West Bank and East Jerusalem. Most foreign governments claim that Israel's settlement activities in the West Bank, where the Palestinian Authority has limited autonomy, are illegal under international law. Israel disagrees with this view. Reporting by Ali Sawafta and Steven Scheer; Writing by Pesha Magd; Editing Andrew Heavens
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Blackstone CEO addresses AI concerns raised by the community
Stephen Schwarzman, Blackstone's CEO, said that the company is addressing the social and environmental implications of artificial intelligence, as opposition to the construction of data centers in the United States grows. Blackstone and private capital firms pour tens or hundreds of millions of dollars in infrastructure and businesses that are aiming to increase computing capacity and run models that consume a lot of power. A June /Ipsos poll found that the deeply divided American electorate was united by their opposition to the construction of data centers. Only 14% said they would "support" a facility being built for technology companies in their locality. Schwarzman, on a recent conference call, said that Blackstone works closely with its portfolio companies, including the data-center business, "to address workforce, environmental, and community implications through the creation union jobs, training for the workforce, water-free cooling systems, increased power generation, as well as significant local economic investments." Schwarzman stated that while AI's impact could be similar to the Industrial Revolution, which ultimately raised living standards, it also causes anxiety because of the uncertainty about how technology will evolve. Blackstone, the private equity firm that bought QTS for $10 billion dollars in 2021, announced earlier this month it had halted a Virginia project after years of planning. The project was halted after years of planning due to a'strong local opposition, litigation and disagreements. The U.S. administration of President Donald Trump sees AI development as a race with China but also works to protect households from the rise in energy prices that will follow. Schwarzman, who has been a Trump donor for many years, said he personally spent "a lot of time" with leaders in the AI industry and policymakers to think about ways to deal with these issues while maintaining America's AI lead. (Reporting and editing by Nia William; Isla Binnie)
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Michigan reports 7,644 cases of cyclosporiasis in ongoing outbreak
Michigan health officials announced?on Thursday, 7,644 cases of cyclosporiasis (an intestinal infection) linked to a recent outbreak. This is an increase of 473 since the last state update, a day earlier. According to the Michigan Department of Health, this outbreak has resulted in 160 hospitalizations. There have been no reported deaths. Cyclosporiasis is caused by the Cyclospora worm and can cause diarrhea, nausea, and other gastrointestinal problems. This parasite can be spread by eating raw fruit and vegetables or drinking water that has been contaminated with feces. According to the Centers for Disease Control and Prevention, cyclosporiasis cases have steadily increased in the U.S. over the past few months. The agency reported earlier this week that 4,173 people in 41 states had contracted the parasite and 308 were hospitalized. On?Wednesday, the U.S. Food and Drug Administration announced that it was investigating an outbreak of cyclosporiasis. 72 cases were linked to a source which has not yet been identified. The FDA's outbreak tracker lists six active Cyclospora outbreaks, including four ongoing investigations and two that are no longer under investigation but still remain under investigation. A spokesperson from the U.S. Department of Health and Human Services said that the "Trump administration mounted a robust reaction to this outbreak by working closely with health departments?in all 50 states and leading public health response, promptly identifying the known sources and giving Americans the information they needed?to protect themselves." HHS stated that as the FDA investigation continues, it is possible to identify additional brands, restaurants or retailers. The CDC is currently investigating over 7,400 additional infections reported that have not yet been laboratory confirmed. Many of these are in Michigan and Ohio. The agency had linked the outbreak with shredded iceberg salad served at Taco Bell in certain states. Mexico Health Minister David Kershenobich said on Tuesday that there is no evidence to date that lettuce from Mexico has caused the outbreak. U.S. officials are still investigating a lettuce outbreak that has been linked to five states. (Reporting and editing by Tasimzahid, Shilpa Majumdar and Siddhi Mahtole from Bengaluru)
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US imports the first fuel oil cargoes via Syria as Iraq uses a new export route
According to two sources and shipping data, the United States is now importing fuel oil from Iraq via Syria. This comes as Iraq continues to expand its?Mediterranean trade route, which was established following disruptions in Gulf trade routes earlier this summer. This alternative route shows that'shippers are looking for ways to circumnavigate Strait of Hormuz which has been 'effectively closed since several months and hindering Gulf oil imports due to the Iran War. According to Kpler Shipping Data, three Aframax tanks loaded fuel oil in Syria's Mediterranean Port of Baniyas from June to July, for delivery to U.S. Gulf Coast. Sources with direct knowledge about the operations at the Syrian Terminal said that the fuel was Iraqi. On Passion, the first tanker to leave Baniyas with 716,600 fuel oil barrels, left on June 17. Kpler reports that 487,600 of the barrels will be discharged at?the Bahamas by mid-July. The remainder is expected to arrive in Texas in late July. The Nissos Cristina loaded around 288,500 barrels in Baniyas and departed on July 8 to discharge in the U.S. Gulf Coast early in August. Meanwhile, the Green Warrior had loaded approximately 414,400 of fuel oil between mid-to-late July to arrive in the United States during the third week in August. Sources said that the cargoes were loaded with Iraqi oil, which was transported across the border to Syria by truck and then loaded at Baniyas. According to Kpler, these are the first fuel shipments ever from Syria destined for the United States. According to an?engineer working at the Baniyas Terminal, Syria has not exported petroleum products or crude oil for many years. The only exception was a shipment made in September 2025. The engineer stated that all current Baniyas shipments are restricted to Iraqi fuel oils. The Syrian Petroleum Company, Syria's state owned company, did not respond immediately to a comment request. SPC reported in June that Baniyas had been loading one tanker with Iraqi fuel oil each seven to ten days since the new reexportation route began in early May. Around 900 tanker trucks were unloading at the terminal every day. LSEG shipping information shows that Iraqi fuel oil exports through Baniyas have also?been shipped to customers in different countries across the Mediterranean including Spain and Egypt. Last month, it was reported that Iraq intended to expand its arrangement to export crude oil and naphtha via Syria. This came after disruptions in shipping through the Strait of Hormuz led Baghdad's government to look for alternative export routes. Iraqi and Syrian officials stated that Iraq planned to continue to use the Syrian corridor, even after traffic through Hormuz returned to normal. This was part of a diversification strategy and a reduction in reliance on one route. Sources said that although Syria has equipped Baniyas with facilities for crude oil and naphtha handling, exports have not yet begun. Kpler reports that the United States has not imported Iraqi fuel since March. The data shows that U.S. imports of fuel oil are typically from Mexico, Algeria, and Iraq. The data showed that Baniyas, which has increased fuel oil exports, is also a major supplier to the U.S. Gulf, and the U.S. Gulf has had to fill the gap created by the Mideast Gulf's?flows. The shipments show how regional trade has continued to develop following the disruption of Gulf shipping caused by the Iran War. Iraq is increasingly relying upon Syria's Mediterranean Port to reach customers across Europe, Africa, and now North America. Reporting by Georgina Mccartney in Houston, and Feras Dalatey in Dubai. Editing by Liz Hampton & Andrea Ricci.
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Irish PM: No definitive evidence that Irish alumina is used in Russian arms
Micheal Martin, the Prime Minister of Ireland, said that an Irish investigation into a major alumina factory?has not found any "concrete" or "definitive" evidence to suggest its exports are used in Russia to produce aluminium for weapons. Ireland faces increasing pressure regarding the Aughinish Alumina Plant, Europe's biggest refinery for the aluminum feedstock alumina. The facility continues to export alumina to Russia. Dublin ordered the 'investigation', while defending a European Union decision that the Rusal-owned?plant would not be included in Russian sanctions packages. The government claims that 'the refinery located in southwest Ireland plays a strategic role for EU supply chains. "The investigation hasn't?found concrete evidence or definitive proof linking the alumina with a?"weapons producer in Russia," Martin said at a press conference held jointly with Ukraine President Volodymyr Zelenskiy, during a trip to Kyiv. The report also states that "neither has it found conclusive evidence that alumina is not going to weapon manufacturers." Martin stated that the investigation was almost completed?and will be shared with European Commission when it is finalised. Martin said that Rusal was adamant that the material would not be 'going to weapons manufacturers. Martin stated that "we will work with?the Commission to?see what we can do to deal with this matter, as we don't want material from Aughinish?to go to Russia." He added that other methods could be used to achieve the same goal. Zelenskiy visited 'Dublin' earlier this month to urge a rapid completion of the investigation. He reiterated that Kyiv supports sanctions against EU alumina exported to Russia.
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Venezuela quakes caused $19.6 billion in damage, World Bank report shows
The World Bank released an early assessment on Thursday that estimated that the costs of rebuilding could be double that amount or more. According to the government, the 7.2 and 7.4 magnitude earthquakes killed approximately 5,000 people and destroyed residential buildings, infrastructure, and non-residential structures in northern areas of Venezuela, including Caracas. According to the government, nearly 17,000 people have been injured and almost 18,000 are homeless. World Bank reported that the disaster was the "country's deadliest quake since 1812" and occurred at a time of precarious socioeconomic conditions, with a poverty level of 76%. Around 7.9 million people fled the country in 2015. "The earthquake caused an estimate of $19.6 billion in direct physical damages, a staggering number for any economy, and one that requires a coordinated response," Susana Cordeiro-Guerra, World Bank vice president overseeing Latin America and Caribbean. She said that if additional investments are not made, they will have a negative impact on the productivity of the country and the living standards. The bank's Global Rapid Damage Estimation (GRADE) was completed using remote-based earthquake models, local seismic data and satellite imagery, as well as damage reports from the government, humanitarian agencies, and other organizations on the ground. Estimates do not include costs for "building better" by upgrading construction types or structural improvements. These costs could be up to twice as much, or even more, than the replacement costs. This could push the bill close to $50 billion. This estimate does not include any direct economic losses. The labor supply is expected to decrease by?1% in this year. The bank stated that it was working closely with the Venezuelan Government, the Inter-American Development Bank (IDB) and the Development Bank of Latin America to develop a more comprehensive estimate of the costs of recovery and reconstruction in Venezuela. These studies can take several months to complete, but GRADE assessments only take a few weeks. Assessments showed that the majority of damage was caused by residential buildings, followed by infrastructure (27%) and non-residential structures (26%). The pace of reconstruction will be crucial in determining the economic recovery of the country and its social outcomes, according to the bank. The bank stated that without 'higher public andprivate investment, productivity and GDP would remain below pre-quake level until at least 2030. It said that additional borrowing would increase Venezuela's debt, but would also spur a stronger economy, which in turn would improve the fiscal situation of the country. (Reporting and editing by Andrea Shalal.
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Honeywell Technologies increases its 2026 profit forecast for the first time since it split.
Honeywell Technologies increased its full-year profit forecast for 2026 on Thursday, helped in part by the resilient demand for industrial and building automation product, despite a quarterly profit that fell short of analysts' expectations. The shares of Honeywell, which reported its first earnings after Honeywell’s three-way division, rose by more than 5% in morning trading. Honeywell's Building Automation division led the demand, with organic sales up?9%, and orders up 13%. This was driven by double-digit increases in data centers, hospitals, and hospitality. Sales of Industrial Automation products grew?4% organically, and orders increased?10%. This was largely due to the strong demand for industrial measurement and sensing products. Although sales of Process Automation & Technology fell 1%, orders grew 24% due to robust demand for LNG and gas processing. Vimal Kapur, CEO of the company, said that during a call after earnings the Middle East Process Technology business had seen a rise in orders by more than 50 percent for refurbishment projects. He also forecasted a "sharp incline" in Process Automation & Technology starting in the third-quarter. LSEG data shows that adjusted profit for the 'quarter' rose by 10% compared to a year earlier to $4.52 a share. This compares to analysts'?estimate $4.81. The company expects to earn $8.05-$8.35 per share annually, as opposed to the $7.90-$8.30 forecast last month. The company expects to achieve a full-year sales range of $19.8 to $20.0 billion, with organic growth of between 3% and 4%. Sales for the second quarter rose by 4% to $9.72 billion - above analysts' estimates of $9.51 Billion. Honeywell Technologies is the automation division of a three-way separation completed in this year. Honeywell Aerospace, the aerospace business, was spun off by Honeywell in June. Solstice Advanced Materials was formed to separate the advanced materials businesses. (Reporting and editing by Tasim Zaid in Bengaluru, Aatreyee dasgupta from Bengaluru)
Global stocks climb as US jobs data cools Fed hike fears
Global stocks continued to rise on Friday, after a lackluster U.S. employment report tempered expectations of an imminent rate hike by the Federal Reserve. Meanwhile, regional activity gauges indicated an economic expansion in June.
Europe's broadest index reached a new record and was on track for its largest weekly gain in more than a month.
The pan-European STOXX600 reached 651,77 before stabilizing at 650.29. The DAX in Germany rose by 0.4%. The French index was stable and the UK index fell 0.2%.
The broadest MSCI index of world stocks rose by 0.4%.
Dan Coatsworth of investment platform AJ Bell said in a report that "Europe's Stoxx 600 finished the week with a bang" as investors snatched up utilities, basic materials and industrials stocks.
He added that "while these movements indicate a more optimistic investor, it is important to continue watching the U.S. technology stocks as many are emerging from the "boil".
South Korea's Kospi fluctuated between gains and losses, before closing around 6 percent higher as investors pounced upon battered chipset stocks.
The Purchasing Managers' Index data (PMI), released on Friday, indicated an increase in activity throughout Asia.
After stalling in May, the Japanese services sector resumed growth in June. China's service sector expanded at a slower rate, but the overseas demand grew?at its fastest pace in 20 months.
Capital Economics analysts said that the Chinese data showed "the PMIs are still healthy and imply a stronger economic momentum throughout Q2".
U.S. LABOUR MARKET COOLING
According to data released Thursday, the U.S. employment growth has slowed dramatically in June, and payroll gains from the two previous months have been revised downward. This indicates a cooling of labour markets.
The lackluster jobs data dampened traders' expectations for an imminent rate increase and increased the likelihood that the Fed would keep rates on hold till October.
Fed funds futures indicate a 46.8% implied probability that the U.S. Central Bank will maintain rates at its September 15-16 meeting, compared to 35.8% a day before. This is according to CME Group's FedWatch.
Inflation remains a major concern.
James Rossiter is the head of global economics for TD Securities. He said that shipping was their biggest risk this year. This includes the Iran War.
He said in a telephone call that the closure of the Hormuz Strait had caused ships to be rerouted around the globe, "leading to less shipping capacity globally." The price effects were still being felt by the global economy.
U.S. Futures were up, with S&P and Nasdaq futures each rising by 0.3% and 1,1%. The U.S. stock market will be closed for Independence Day on Friday.
The U.S. Dollar held steady at 161, despite the fact that the dollar had lost some of its earlier gains due to the holiday, which drained the market's liquidity. Traders were also on the lookout for any possible intervention.
This week, the Japanese?currency was choppy after it was reported on Thursday that authorities might have adopted a?new approach to their forays in the market.
The U.S. Dollar Index, which measures greenback strength in relation to a basket six currencies, fell 0.2%, closing at 100.76.
In commodities, Brent crude futures steadied at $71.75. Gold rose by just under 1.3% to $4,178.
Bitcoin's value increased by 0.1%, to $62,090.78. (Reporting and editing by Thomas Derpinghaus, Jan Harvey and Nell Mackenzie; Gregor Stuart Hunter and Nell Mackenzie)
(source: Reuters)