Latest News
-
Officials say that four people were killed in Russian attacks on eastern Ukrainian towns
Officials and prosecutors reported late Tuesday that Russian 'attacks' on cities in Ukraine’s east and south-east had killed four people and set a residence and shopping centre ablaze. In the Donetsk Region, which is the center of Ukraine's frontline, prosecutors said that three people died in two bombings in the city of Slovansk. Five people were also injured. Sloviansk forms part of the "fortress belt" heavily defended by military forces and is seen as a key location in containing a slow-moving Russian attack on Donetsk. National police in?the southeast Ukrainian city of Zaporizhzhia? said that a wave dozens of drones had killed one man and injured seven other people. Online pictures showed flames on the roof and inside of a building. At least one façade was reduced to rubble. Regional Governor Ivan Fedorov confirmed that there were five attacks?on the city. Fire broke out at a home and shopping centre, and an education institution was damaged. Could not independently verify these reports. Russia and Ukraine deny that they deliberately targeted civilians during the war which began with Russia's full scale invasion of Ukraine in 2020. Reporting by Ron Popeski, Oleksandr Kozoukhar and Mark Porter; editing by Jamie Freed and Mark Porter
-
Oil prices tumble again on US-Iran deal; S&P 500 falls
Oil prices dropped more than 5% Tuesday, continuing this week's losses, on hopes that a U.S. Iran deal will end the Middle East war and allow oil to flow through the Strait of Hormuz. Meanwhile, technology shares weighed on the S&P 500 & Nasdaq. The details of the U.S.-Iran interim agreement began to emerge. U.S. president Donald Trump said it would rule out Tehran acquiring a nuclear weapon, and an official from the U.S. stated that it allowed Iran to immediately sell oil after signing. Brent crude futures dropped $4.21 or 5.1% to settle at 78.96 per barrel. U.S. West Texas Intermediate crude (WTI crude) fell $4.70 or 5.8% to $76.05. SpaceX's stock valuation soared above that of Amazon and briefly overtook Microsoft's, amidst a frantic trading day driven by the newly listed option contracts of the company. SpaceX, which began trading on the Nasdaq last Friday, was up 4.8% for the day. Bruce Zaro is the managing director of Granite Wealth Management, Plymouth, Massachusetts. He said that the second quarter U.S. earnings are still a few weeks away. Nvidia, the most valuable AI chip maker in the world, surprised investors by tapping into the bond market for $25 billion. The company stated that the money would be used to fund general corporate needs and that the debt sale was a benchmark for future issuance. Nvidia shares dropped 2.4%. Investors also remained cautious in advance of the Federal Reserve policy update scheduled for Wednesday afternoon. Some investors were concerned that new Fed Chair Kevin Warsh might adopt a more hawkish stance at his first meeting. It is expected that the Fed will hold rates at between 3.50% and 3.75%, but it could also drop its easing policy. The Dow rose for the second day in a row. While the S&P 500, Nasdaq and other major indices ended the day lower, the Dow closed at a record high. The S&P 500 saw a decline in technology, but a rise in financials. A semiconductor index fell 5.7%. The Dow Jones Industrial Average rose by 328.64, or 0.6%, to 51,999.67. The S&P 500 dropped 42.94, or 0.5%, to 7,511.35. And the Nasdaq Composite fell 307,60, or 1.15, points to 26,376.35. MSCI's index of global?stocks fell by 2.98 points or 0.26% to 1,128,30. The pan-European STOXX 600 rose by 0.25%, and closed at a record high. The dollar fell in foreign exchange due to the optimism surrounding a possible peace agreement with Iran. The dollar index (which measures the greenback versus a basket including the yen, the euro and others) fell by 0.14%, to 99.55. Meanwhile, the euro was up 0.16%, at $1.1609. The Japanese yen fell 0.06% to 160.43 dollars after the Bank Of Japan raised its benchmark rate as expected by 25 basis points, reaching 1%. Reserve Bank of Australia held rates at 4.35%, in an unanimous decision. This was its first pause of the year despite high inflation. The Australian dollar was barely changed at $0.707 The yield on the 10-year U.S. Treasury bill was down 4.5 basis points at 4.424%. The auction of $13 billion in 20-year notes was successful. 20-year yields, which peaked at 4,938% on the trading day, are now at 4.93%. Gold spot rose by 0.59%, to $4331.14 per ounce. Reporting by Caroline Valetkevitch and Amanda Cooper, both in New York; Additional reporting from Alun John and Gregor Stuart Hunter, both in London; Editing by Jacqueline Wong and Rod Nickel; Jamie Freed.
-
IG4 negocia o controle da Raizen com Moelis e Journey
O banco ?de investimentos independente Moelis & Company e ?a consultoria financeira Journey Capital, assessores dos credores ?da produtora de ?acucar e ?etanol Raizen, receberam ?ofertas nao vinculantes da gestora de private equity IG4 na noite de segunda-feira para adquirir creditos e o controle da empresa, de acordo com tres pessoas familiarizadas com ?o assunto. Duas delas, entretanto, alertaram que qualquer acordo ainda esta ?longe de ser certo, sendo que uma acrescentou que os credores ?dificilmente chegarao a uma decisao em breve. Ainda, uma das tres pessoas disse ?que os credores aceitaram a proposta da ?Raizen de converter ?divida em participacao acionaria por ser a melhor alternativa disponivel naquele momento, mas que prefeririam nao permanecer como acionistas. "Portanto, (o sucesso da proposta) vai depender 100% das condicoes oferecidas pela IG4", disse a ?pessoa. IG4, Moelis e Journey Capital nao quiseram comentar. A IG4, que recentemente se tornou ?co-controladora da petroquimica Braskem ao lado da gigante do ?petroleo Petrobras, ?busca adquirir o controle da Raizen, que acaba de concluir uma reestruturacao de ?divida de cerca de R$65 ?bilhoes com credores locais e internacionais, a maior reestruturacao extrajudicial ja registrada no ?Brasil. Conhecida por buscar o ?controle ou co-controle de ?suas aquisicoes, a IG4 so avancara com a oferta se garantir ao menos 50% mais um dos creditos reestruturados, disseram as pessoas.
-
IG4 is aiming to take control of Brazil's Raizen as it approaches Moelis, Journey and Moelis
Three people with knowledge of the situation say that independent investment 'bank Moelis & Company, and financial consultancy 'firm Journey Capital are advisers of creditors of ethanol and sugar producer Raizen. They received a 'non-binding offer?from the private equity firm IG4 on Monday evening to purchase credits and control. Two of them warned?that any agreement remains far from sure, and one said that creditors are unlikely?to reach a decision any time soon. One of the creditors said that they accepted Raizen’s offer to convert their debt into equity because it was the 'best alternative available', but would not like to be shareholders. The person who said this stated that the success of the proposal will depend 100% on the conditions set forth by IG4. IG4, Moelis, and Journey Capital declined comment. IG4 recently became cocontroller of petrochemical company Braskem along with oil giant Petrobras. It is now'seeking to buy control of Raizen. This company?just announced a?65 billion reais (12.7% billion) debt restructuring, which was the 'largest non-court debt restructuring in Brazil. The people who spoke to IG4 said that the company is known for pursuing co-control or control over its acquisitions. IG4 would 'likely' move forward with the offer if they'secured at least 50% plus 1 of the restructured credit, according to the sources.
-
Venezuela's PDVSA signs deal with Repsol for oil and gas production
Officials from Venezuela's PDVSA state oil company and Spanish energy group Repsol have signed a "crude and gas agreement" to boost production in the northwestern part of Venezuela. Hector Obregon, PDVSA president, said that at an event held at the Government Palace, the deal offers "exploration" opportunities on the eastern shores of Lake 'Maracaibo where the two companies already operate the Petroquiriquire Joint?Venture, which could add 20,000 barrels of light crude per day to the current average production of around 40,000?bpd. In comments broadcast by state television, he said that the additional crude would supply the Paraguana Refining Center, which is located in Falcon State, and help fuel economic growth. Repsol announced in April that it had reached a deal?with Venezuelan authorities and PDVSA in order to regain control over its oil assets. The agreement also includes plans to triple the output of Venezuelan oil operations in three years, and to ensure payment mechanisms. Washington eased sanctions against Venezuela's energy sector after the capture of?President Nicolas Maduro by the U.S. in January. It issued general licenses that allowed international energy companies to operate oil and?gas projects. Reporting by Fabiola Aramburo, Writing by Daina Beth Solon and Sanjeev Mikleni; Editing by Daina-Beth Solomon and Sanjeev Micleni
-
Hezbollah thinks Iran won't sign the final nuclear agreement if Israel remains in Lebanon
Hezbollah stated on 'Tuesday' that it believes Iran won't sign a final deal with 'Washington unless Israel leaves 'Lebanon', after Iran's top diplomat'said Israel's 'continued troop' presence in Lebanon will be considered a violation of the U.S. -Iran Memorandum of Understanding. Israeli troops continue to occupy territory in southern Lebanon they captured during their three-month-long air and ground campaign against Hezbollah. The campaign began when the Iran-backed Hezbollah fired on Israel in support of Tehran, starting in?March 2. The fighting in Lebanon has slowed down but not completely since the Iran-U.S. Memorandum of Understanding. Israel also said that troops will remain in Lebanon's south. Hezbollah is against Israel's occupation. The group's media said on Tuesday that it believed Iran would require an?Israeli pullout as part of the next U.S.Iran talks. These are set to begin after both parties formally sign their memorandums of understanding this Friday. These talks will address sensitive issues such as the future of Iran’s nuclear program. Hezbollah media office: "We think there won't be a nuclear deal between Iran & the United States without Israel withdrawing." This was the first time that the group had linked Israel's departure?to an possible nuclear deal. The statement said that an Israeli withdrawal was not a condition for the talks, but rather a result. It claimed that it had been assured by Iran that any Israeli violation of the ceasefire in Lebanon would affect those upcoming negotiations. Abbas Araqchi, Iran's foreign minister, said that the end of regional conflict must also include the end?of conflict in Lebanon and "the end" of "occupation" of Lebanese land. He said: "A full end to the war cannot be achieved without the withdrawal of Israeli troops from the territories that they have occupied during this war." Araqchi said that any Israeli attack on Lebanon or continued occupation of Lebanese lands "will be considered, in our opinion, a violation to the memorandum." Reporting by Maya Gebeily from Beirut, and Parisa hafezi from Dubai. Editing by Alison Williams and Alexandra Hudson.
-
Thyssenkrupp spins off its largest division by sales, the Materials Trading Division.
Thyssenkrupp announced on Tuesday that it plans to spin-off its Materials Trading division, which accounts for almost a third in the total sales of the German conglomerate. This announcement has been reported by and is part of the company's ongoing efforts to "turn itself into a holding company". The company has divested its hydrogen and marine divisions through individual stock listings in the past. Thyssenkrupp shareholders will vote on the issue of spinning off 49% in an extraordinary shareholder meeting scheduled for August 7. Jefferies analysts estimate that the segment has an enterprise value of EUR3.6 billion ($4.2 billion). Around 15,500 people work in the division that buys, processes and sells materials like steel and alloys. It also manages their warehouses. This division accounts for 17% of Thyssenkrupp’s total employees and EUR11.4 billion or almost a third of its sales. Thyssenkrupp stated that if approved, the separate listing would occur before the end the year. Thyssenkrupp's CEO Miguel Lopez stated that?tk Accelis?had made "impressive progress" in the past few years, calling it a "fully-integrated materials distributor and powerful supplier chain service provider". The German labour union IG Metall said that worker rights were secured in the reorganisation. This follows previous concerns. "IG Metall has strengthened and secured?key safeguards in difficult circumstances. Ingo Kloetzer, a representative of IG Metall, said that without?our negotiation, workers' rights in key areas would be greatly weakened.
-
Israeli drone strikes kill four in southern Lebanon
The National News Agency of Lebanon (NNA), reported that Israeli drones targeted three vehicles on the southern border of Lebanon, killing four and injuring several others. In a double-tap attack, two people were killed when a drone struck a car at Mayfadoun village. The second strike was made after the villagers gathered. The agency reported that two more people were killed in a drone attack on the town Shoukin. The fighting in Lebanon between Israel-backed Hezbollah and Iran has decreased but not stopped completely since the announcement on Monday of an interim agreement between the United States, Iran and Iran. According to NNA's report, Israeli drones hovered above Beirut, while the Israeli military continued its assault on southern Lebanon. The Israeli military did not immediately comment on the reported attacks. Israeli troops have continued to occupy large areas of southern Lebanon, and have destroyed dozens of villages and removed their inhabitants. Israel's army said in a press release that it intercepted Hezbollah rockets fired at a southern Lebanon area where Israeli soldiers were conducting operations. Israel's military said that it also struck the launcher which fired some of these rockets. Israeli soldiers identified a suspicious vehicle and fired a warning shot at it before launching a strike to "eliminate the threat". Since Hezbollah launched strikes against Israel on March 2 in support of Tehran, Lebanon has become entangled in the regional conflict centered around Iran. According to the?Lebanese government, Israel launched an offensive which has resulted in more than 3,820 deaths and around 1.2 millions people being displaced. According to Israeli military announcements, at least 28 Israeli soldiers have died in Lebanon during the latest conflict. Four Israeli civilians were also killed by Hezbollah. Hezbollah did not say how many fighters were killed. Reporting by Maya Gbeily, Editing by Gareth Jones
Fire companies to examine potential Edison link to LA Hurst fire
Fire firms are investigating whether Southern California Edison's utility infrastructure stimulated a brush fire that is still burning in a Los Angeles suburb, SCE stated Friday, including no decision has actually been made.
SCE, a system of U.S. energy Edison International, said in a filing to its regulators that a downed conductor was discovered at a tower connected with its Eagle Rock - Sylmar 220 kV circuit.
SCE does not know whether the damage observed occurred before or after the start of the fire, the utility said.
SCE said initial information reveals the circuit experienced a relay at 10:11 p.m. (0611 GMT) where the Hurst fire was reported around 10:10 p.m. on Jan. 7.
The Hurst fire, in Sylmar in the San Fernando Valley northwest of Los Angeles, has surpassed 770 acres and is now 77%. contained, according to the California Department of Forestry. and Fire Protection.
Edison International did not immediately respond to a. request for comment made by means of the company site.
SCE on Thursday said it had actually gotten notifications from insurance coverage. companies to maintain proof related to the Eaton Fire that is. still burning in Los Angeles, however stated no fire companies have. connected the energy's connection to the fire.
More than 10,000 structures have been destroyed by five. fires raving in the area and almost 30,000 acres have been. burned.
Personal forecaster AccuWeather has approximated the damage and. financial loss at $135 billion to $150 billion, portending an. strenuous recovery and skyrocketing property owners' insurance coverage expenses.
(source: Reuters)