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The auto sector struggles with Nexperia disruption amid hope for Dutch-China discussions
Bosch said that thousands of employees are facing production interruptions due to a global shortage of chips caused by a dispute with the manufacturer Nexperia. China and the Netherlands are locked in a fight for control of Nexperia. However, there is hope that the standoff will ease with the Dutch government sending an official delegation to Beijing to try to reach a compromise. Bosch reported that it was experiencing disruptions at three of its sites: Ansbach, Salzgitter and Braga (both in Germany) and Braga (Portugal). It said: "We continue to do everything possible to serve our clients and to avoid or minimize production restrictions." FURLOUGH MEASURES - USE 'AS NECESSARY' The chips from Nexperia, a Dutch company, are simple in design but widely used for car electronics and other consumer goods. In September, the Dutch government took control of a Chinese-owned firm over concerns about technology transfers. Beijing then halted the exports of finished products made by the company from China. The Chinese commerce ministry granted exemptions to some of the export bans, which has left major suppliers such as Bosch, Aumovio, and ZF Friedrichshafen scrambling to find alternative suppliers. Bosch sends workers home as needed when the production is slowed by the shortage of supplies. The spokesperson stated that in Germany, the company uses state-backed furloughs "as necessary" for 300 to 400 employees at Salzgitter where 1,300 are employed, and around 650 out of the 2,500 at Ansbach. The spokesperson said that Braga has about 2,500 employees affected by temporary adjustments in working hours or furloughs. ASSOCATIONS OF THE INDUSTRY WARN OF PRODUCTION RISKS IN THE NEXT WEEKS ZF Friedrichshafen has confirmed that its supply of chips will last until mid-next week. A spokesperson said that furloughs are not necessary at ZF until then but "cannot be ruled out". The German VDA automobile association stated that the situation remains tense. Marcus Bollig, VDA's Managing Director, said: "It is still too early to declare the situation as resolved. We cannot rule out any further impact on supply chains over the next few weeks." A person with knowledge of the situation said that shortages have affected supply chains worldwide. Nissan, for example, will cut production at its Kyushu factory by 1,400 cars next week. Honda, on the other hand, signaled some easing by saying that it would resume its regular production at its North American factories. Reporting by Ilona wissenbach and Rachel More. (Editing by Jan Harvey, Mark Potter and Jan Harvey)
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Two tourists reported dead after being lost in a snowstorm in Patagonian Chile
Media reports said that rescue workers searched on Tuesday for a group who had gone missing during a powerful storm in Torres del Paine National Park in Chile, located in southern Patagonia. The storm killed at least 2 Mexicans. According to T13, one of the victims died after she was evacuated. Guillermo Ruiz is the delegate of the president for Chile's southern Ultima Esperanza Province. He told T13 the first responders are still searching for seven people but bad weather has complicated the search. The tourists are lost in the Los Perros camp of the national park, Ruiz stated. It was only reachable by foot after a 4- to 5-hour trek. A snowstorm swept through the area with winds exceeding 193 kmh (120mph), which is equivalent to a category 3 hurricane. The tourists' origins were unclear. Torres del Paine National Park is a vast area of about 1,810 sq km (700 sq miles), with a subpolar forest and jutting mountains. It hosts thousands of tourists each year. (Reporting and editing by Rod Nickel.)
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Elliott invests in Barrick Mining according to a source
Sources familiar with the situation said that Elliott Investment Management, an activist investor, has built up a substantial stake in Barrick Mining. Barrick had a difficult year. It was marked by the loss of control over its Mali gold mining operation, which led to a $1 billion write off, and Mark Bristow's departure as CEO after almost seven years. The Financial Times earlier reported that Elliott was among Barrick's top 10 shareholders. Its stake is estimated to be worth $700 million. Barrick, it was reported last week, has discussed the possibility of splitting its company into two separate businesses. One would focus on North America while the other would be focused on Africa and Asia. The Canadian miner wants to develop the Fourmile Gold Project in Nevada. The FT reported that Elliott was encouraged by Barrick's possibility of splitting into two companies. Barrick didn't immediately respond to our request for comment. Reporting by Arunima in Bengaluru, and Anousha in London. Editing by Leroy Leo.
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Renewables and distribution drive Greece's PPC EBITDA up by 24% in the nine-month period
Public Power Corporation (Greece's largest utility) reported on Tuesday that its adjusted core profit grew by 24% in the first nine-month period of 2025 compared to the same period last year, mainly due to higher distribution revenues and a higher output from renewables. PPC reported that adjusted earnings before interest tax, depreciation, and amortisation (Jan-Sept) were 1.7 billion euro ($2 billion), a significant increase from the 1.3 billion euro earned a year ago. In a press release, Chairman and Chief Executive Georgios STASIS said: "We are fully committed to the execution of our Transformation Plan and invest actively in clean and versatile electricity generation." The first nine months in 2025 saw investments totaling 1.9 billion euro, of which approximately 88% were allocated to projects involving renewable energy sources. The group said that RES production rose 5% on an annual basis in the first nine months despite a drop of 15% in large hydro output because of lower reservoir inflows. The wind and solar power generation grew by 48%, respectively, with the new capacity including Ptolemaida's largest solar park. PPC said that its installed RES capacity was 6.4 gigawatts as of end-September. 3.9 GW were under construction or are ready to be built. Renewables now account for 33% in its energy mix. The utility intends to phase out the use of lignite in 2026. The group confirmed its outlook for the year 2025. It said it was on course to achieve adjusted EBITDA in excess of 2 billion euro and a net profit above 400 million euro. It plans to pay 0.60 euros per share in dividends, an increase of 50% over 2024.
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Gabon signs landmark climate finance deal for Congo rainforests
The Gabon government and a group of donors signed an agreement to protect 34,000 square kilometers (13,000 square miles), of the Congo Basin rainforests in the country. The plan, dubbed "Gabon Infini", will combine $94 millions of donor money such as that from the Global Environment Facility or the Bezos Earth Fund over a 10 year period with $86,000,000 of government funding. The model, known as "Project Finance for Permanence", aims to finance national parks and tackle elephant poaching while boosting eco-tourism. It is a method that ties funding disbursements to important government policy changes. The model is becoming more popular. Brazil announced on Monday a similar deal covering almost 243,000 square kilometers of Amazon rainforest. Kenya and Namibia were also finalising agreements. Gabon is a vital ecological anchor in the vast Congo Basin. Nearly 90% of its land is covered in tropical rainforest. It is home to over half of the remaining African forest elephants and a quarter of the western lowland chimpanzees. The new plan is based on a "debt for nature swap" that was completed only weeks before the military coup of 2023. In that deal, Gabon refinanced $500 million of loans with a bond that set aside funds for coastal protection. The country's finances are once again causing concern. The draft budget for 2026, approved in September, plans to almost double government expenditures next year. Rating agencies warned that the debt-to GDP ratio would increase to nearly 90% from 73% by the end of 2018. The former minister Maurice Ntossui Allogo who oversees the new conservation plan said that Tuesday's Letter of Intent Agreement marked "a crucial milestone" for Gabon’s conservation drive. Ryan Demmy Bidwell of The Nature Conservancy, a non-profit organization that has worked with the government to protect the forest, stated that Gabon is important because almost 90% of it is intact. He added that the Infini project would lead to the creation of new national parks, and other protected areas, so as to cover 30% of its rainforests, up from 15% at present. Bidwell stated, "We hope Gabon can serve as a role model for other countries in the Congo Basin and in Africa." (Reporting and Editing by Peter Graff.)
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EU approves subsidy of $2 billion for German coal
The European Commission announced on Tuesday that they had approved a compensation payment of 1.75 billion euro ($2.03 billion), from Germany, to the power company LEAG in exchange for it ceasing coal use by 2038. In 2020, the German government agreed that coal-fired plants would be shut down by 2038 as part of its effort to achieve climate neutrality by 2045. The compensation amount was agreed upon with LEAG, subject to EU approval. LEAG will supply 7 gigawatts (about 10%) of Germany's total lignite-fired electricity in 2024. This shift, which included a planned repurposing opencast mines in eastern Lusatia, caused social unrest. In 2021, the Commission opened an investigation into whether the payment distorted the free competition on the EU's inner market. The Commission Representation in Germany released a press release that said: "The European Commission reviewed and approved an German subsidy up to 1,75 billion Euros in favour of Lausitz Energie Kraftwerke AG" (LEAG). This was in accordance with EU State Aid rules. The support will compensate for the additional fixed costs that arise from the early closing of the power plants. This includes social costs for employees to change jobs as well as lost profits. The European Commission signaled that it would grant its approval in June last year.
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Gold prices rise as the dollar weakens, and traders consider US rate cuts
The gold price rose on Tuesday from its one-week low, boosted by a weaker US dollar and weaker U.S. job numbers. Investors viewed the possibility of a Federal Reserve rate cut in December, ahead of delayed U.S. economic data this week. As of 10:15 am, spot gold was up by 0.4% to $4,059.39 an ounce. ET (1515 GMT), having hit its lowest level since November 10, earlier in the session. U.S. Gold Futures for December Delivery fell 0.4% to $4,509.20 per ounce. Dollar-priced gold is now affordable to holders of other currencies, as the index has fallen by 0.2%. The data released on Tuesday revealed that the number Americans receiving unemployment benefits reached a two-month-high in mid-October. In the week ending October 18, the claims for continued benefits rose to 1.9 millions. The data is slightly increasing market expectations for a rate cut in December. The data is helping silver and gold, which are trying break a 3-day losing streak," said Tai Wong an independent metals dealer. The CME FedWatch tool shows that the markets now expect a 50% probability of a rate reduction at the December meeting. This is up from the 46% they had earlier in the morning, but down from the 67% seen last week. Gold is a non-yielding investment that tends to perform well when rates are low. Prices dropped over 3% on both Friday and Monday, as investors reduced their bets that another rate cut would occur this year. The markets are now awaiting the minutes of the Fed's most recent meeting, which is due on Wednesday, as well as the September jobs data, which will be released on Thursday. Both have been delayed because of the U.S. Government shutdown. Analysts at Deutsche Bank wrote in a report that they expect the elevated official demand for Gold to continue into the near future. "This supports a bullish strategy and an upward revision to our average forecast of USD 4,00/oz next year," they said. Other than that, silver spot rose by 0.4%, to $50.4 an ounce. Platinum fell almost 1%, at $1.518.15, while palladium declined 0.6%, at $1.385.18. (Reporting from Pablo Sinha in Bengaluru and Kavya Baliaraman; editing by Ed Osmond.)
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As anger grows, a corruption case in Ukraine causes a standoff in the parliament
On Tuesday, one of Ukraine's major opposition parties physically prevented lawmakers from voting in parliament to dismiss two Ministers due to a corruption probe. They demanded the removal of the whole cabinet. The standoff in parliament is the latest manifestation since Ukraine's largest wartime corruption scandal broke out last week. Ukraine's anticorruption bureau has revealed that it is investigating a $100-million pay-to play scheme at the state-run nuclear power company run by the Energy Ministry. Five suspects were detained, and two remain at large. One of the former business associates of President Volodymyr Zelenskiy fled the country in the last week. The parliament was to vote Tuesday on the dismissal Svitlana Svitnchuk, Energy Minister and her predecessor German Galushchenko who is now minister of Justice. All the allegations are causing fury as WAR's fourth winter approaches The vote did not take place because the European Solidarity Party, the main opposition party, blocked the access to the podium. Members of parliament held cardboard signs with slogans like "What is darkness' price?" The session was halted by Ruslan Stefanchuk, the Speaker. A member of the opposition said that a new vote was likely to be held on Wednesday. Both cabinet members deny wrongdoing. Hrynchuk offered to resign, and Galushchenko was suspended pending the results of the investigation. Zelenskiy is in favor of removing them both. The European Solidarity party, led by the ex-president Petro Petroshenko, said that it would try to remove the entire cabinet. This measure has now little support in Parliament. Members of Zelenskiy’s Servant of the People accused the opposition of grandstanding, and of preventing the parliament from taking any action. "While some thieves hide and run, other populist politicians put on a display," said Danylo Hentmantsev a Servant of People senior lawmaker. As the fourth winter of war nears, the allegations made by the National Anti-corruption Bureau of Ukraine have caused widespread anger. Most Ukrainians are living with daily power outages caused by Russian bombardment of their grid. Timur Mindich is the co-owner, along with Zelenskiy, of the TV studio in which he began his career, as a star of a sitcom, before becoming president of Ukraine in 2019. Zelenskiy imposed financial sanctions against Mindich, and the studio stated that Mindich no longer plays a decision-making role. Ukraine is being pressed by the international community to address its corruption issues, even though it has been a problem for decades. This pressure comes as Ukraine seeks to become a member of the European Union. Zelenskiy attempted to curtail some of the powers of NABU, an anti-corruption organization earlier this year. However, he backed down following a backlash from the public as well as European allies. He claimed that his changes would make government more efficient. He denied accusations that he tried to shield his associates from investigation. (Reporting and additional reporting by Anastasiia malenko and Yuliii Dysa.)
Scientists attempt to prove link between Amazon Gold Mining and disability in babies
Indigenous women in the Amazon say they are afraid of getting pregnant. The rivers that were once the lifeblood for their people are now contaminated with mercury due to illegal gold mining. This poses a threat to the unborn children.
Alessandra Korap, a leader from the Munduruku tribe, said that "breast milk is no more reliable."
The family of Rany Ketlen, aged three, lives in Sai Cinza a Munduruku village surrounded by illegal mining. They struggle to understand why Rany is unable to lift her head or suffer from muscle spasms.
Scientists could have an answer soon. Rany is among at least 36 children in the area who have neurological disorders that cannot be explained by genetic testing, according to the preliminary results of a study on the effects of mercury contamination.
Scientists have warned about the dangers that mercury poses to Indigenous children living in the Amazon. However, no study has established a causal relationship between disabilities and these communities. This study could soon establish this link.
Eat the fish poisoned by mercury or go hungry. Rosielton Saw is Rany's dad. He has been a miner in their village, following his father Rosenildo, for many years.
The older man, sitting in the one-bedroom wooden house of the family, said that he was aware that the mercury the family used was harmful.
Rosenildo Saw stated that mining 30 grams of gold a week is "enough" to sustain oneself.
Surubim is a carnivorous, mercury-accumulating fish. The family eats it regularly. Rany Ketlen drinks the broth because she has severe swallowing issues.
Recently, health officials from the government have reported that dozens of patients in other parts of the region suffer from similar disorders. A lack of testing and medical care have made it difficult to get a complete picture of the issue or determine the exact cause.
Researchers are now collecting data about neurological disorders that have been linked to mercury poisoning. These range from acute brain malformations to memory problems, and will be concluded by 2026. Scientists involved in this latest, unpublished study, supported by Brazil's top public health institute, say that the main suspect is mercury, which seeps into waterways from miners who use it to bind the tiny specks gold they extract from riverbanks. This is a largely illegal trade fueled by record high prices for precious metal.
Mercury has contaminated the river fish, a staple of Indigenous communities, and it has accumulated at alarmingly large levels in placentas and breast milk, as well as offspring, and is often more than twice or three times higher than the threshold that pregnant women should be concerned about.
Zildomar Munuruku, chief of Zildomar and also a nurse said that despite the advice from health officials, he could not tell his people to stop consuming fish.
He said, "If we follow their rules we will starve."
MERCURY WILL LINGER EVEN IF MINING STOPS. Next month, world leaders and diplomats will gather in the Amazon to attend the United Nations Climate Summit, also known as COP30. The Brazilian organizers called it "Forest COP" to focus global attention on threats facing tropical rainforests, their inhabitants and illegal mining in the region.
Since he took office again in 2023, Brazilian President Luiz-Inacio Lula Da Silva has forced thousands of Indigenous miners from their lands. Mercury is not broken down by air, water or soil. This causes a long-lasting health crisis.
The Health Ministry released a statement saying that the Brazilian government had increased monitoring of mercury levels within the Munduruku Indigenous Territory. It also trained public health officials on how to recognize early signs of Mercury poisoning.
Paulo Basta is a researcher with the public health institute Fiocruz who has been studying mercury contamination in Indigenous peoples for over three decades.
The new data, papers and interviews reviewed by indicate that the humanitarian crisis caused by illegal mining in the Amazon will have lasting consequences for the current and future generations. In a 2021 study, Basta and colleagues found that 10 out of 15 mothers in three Munduruku village villages tested had high mercury levels. In a previous study, 12 out of 13 Yanomami villagers where mining was prevalent had dangerous levels of mercury in their bloodstream. Basta's team collected nearly all 546 cases registered in the government databases as of March 2025.
Basta stated, "That is just the tip." Tens of thousands people live in the Munduruku Yanomami and Kayapo territory.
It is not easy to prove causation.
Basta's research team is currently working on a study that will provide the missing piece of the puzzle: proof showing mercury causes disabilities. They are testing babies in their first year of life by following 176 women during pregnancy.
The researchers' preliminary findings showed that in Sai Cinza where Rany Ketlen lives with her family, mercury levels were five times higher on average for mothers than what the Brazilian Health Ministry considers to be safe, and three times as high for babies. Raylene Ketlen, Rany's one-year old sister, is among them. She has yet to show any symptoms.
Cleidiane Carrvalho is a nurse and a former researcher who has spent years trying to link researchers with sick Indigenous children. She was worried that without their studies, the crisis would be "silenced and neglected forever."
It has been difficult to prove a causal connection between mercury contamination and health problems.
Researchers at Fiocruz found that Indigenous communities are often lacking in basic health care and vulnerable to infectious diseases. These can all cause neurological disorders. In small Indigenous communities, marriages between close cousins are more common, and can lead to genetic disorders.
The 36 patients without inherited genetic disorders are likely to have mercury poisoning, but this does not exclude other causes, according to Fernando Kok, geneticist and Fiocruz researcher at the University of Sao Paulo.
The tests that detect mercury in the body are only snapshots of what a person ate recently, and cannot be used to prove a previous contamination as a source of neurological issues.
Kok stated, "It is a perfect crime because it leaves no sign." (Reporting and editing by Brad Haynes, Claudia Parsons and Adriano Machado; reporting by Ricardo Brito and Manuela Andreoni)
(source: Reuters)