Latest News
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Russian court tells Yandex to conceal images of oil refinery after Ukrainian attacks, TASS states
A Russian court has purchased internet company Yandex to hide access to maps and photos of among Russia's largest oil refineries due to duplicated attacks by Ukrainian drones, state news firm TASS reported on Friday. Yandex, often referred to as Russia's Google, runs the nation's biggest search engine and other online services like maps, translate and email, along with ride-hailing and food shipment. The court in Moscow purchased Yandex to leave out information about the refinery's infrastructure from its search engine result by removing and modifying pictures of workshops, compressor stations and other parts of the plant from Yandex Maps, TASS reported. It was unclear which refinery the court decision referred to, however TASS said the center had been assaulted four times by Ukrainian drones in 2024. Ukraine has actually staged various strikes on Russian oil storage centers and refineries, reacting to Moscow's February 2022 intrusion and repeated attacks on Ukrainian cities and facilities. The court's decision can be appealed. Yandex declined to comment. The refinery had actually tried to solve the concern straight with Yandex before taking the matter to court, TASS said. The claimant argued that the availability of information about the refinery online weakened Russia's defence ability and adversely affected the armed forces.
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Russian court tells Yandex to conceal images of oil refinery after Ukrainian attacks, TASS says
A Russian court has actually purchased web company Yandex to conceal access to maps and pictures of among Russia's largest oil refineries due to continuous attacks by Ukrainian drones, state news agency TASS reported on Friday. Yandex, frequently described as Russia's Google, operates the nation's largest search engine and other online services like maps, translate and email, along with ride-hailing and food delivery. The court in Moscow ordered Yandex to omit information about the refinery's facilities from its search results page by getting rid of and editing images of workshops, compressor stations and other parts of the plant from Yandex Maps, TASS reported. It was not clear which refinery the court choice referred to, however TASS said the facility had actually been assaulted four times by Ukrainian drones in 2024. Ukraine has actually staged numerous strikes on Russian oil storage centers and refineries, reacting to Moscow's February 2022 intrusion and repeated attacks on Ukrainian cities and infrastructure. The court's decision can be appealed. Yandex did not right away respond to a request for remark. The refinery had tried to fix the issue directly with Yandex before taking the matter to court, TASS said. The claimant argued that the accessibility of information about the refinery online weakened Russia's defence ability and negatively affected the militaries.
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Singapore's Dec jet fuel imports struck multi-year high up on India, S. Korea supply
Singapore's jet fuel imports most likely struck multiyear highs in December, with India the leading supplier as the arbitrage to Europe stayed shut, according to trade sources and shiptracking information. Singapore's jet fuel imports are closely followed by markets as the city state is a major trading and storage center for refined fuel in Asia. The strong supply to Singapore and expectations of higher exports from China after its refiners got their first batch of the 2025 export quota recently, could weigh on Asia's spot jet fuel costs, stated the sources, who all wanted not to be recognized. Singapore's jet fuel imports increased to 2.55 million barrels in December, from around 2 million barrels the previous month, price quotes from LSEG, Kpler and trade sources revealed, with many of the supply originating from India and South Korea. These volumes were the greatest in almost 5 years, Kpler information showed. India diverted its jet fuel and kerosene exports from Europe to the rest of Asia as the east-west arbitrage stayed closed, FGE expert Liu Xuanting stated in a note. The increase in supply has actually turned the regrade to unfavorable territory because mid-December, she added. The regrade, a spread in between prices of jet fuel and 10-ppm sulphur gasoil, averaged at discount rates of 80 cents a barrel over the previous 2 weeks versus November's average premium of 80 cents. Indian refiners typically sell refined items via spot tenders to traders who either send these volumes to Asia or northwest Europe, depending on arbitrage chances. India's exports to Asia struck multi-year highs in November as it did not export any to northwest Europe. Its December exports to northwest Europe were at around 1 million barrels, bit altered from October's two-year lows, LSEG and Kpler shiptracking data revealed. Some northeast Asia refiners also switched to selling jet fuel instead of diesel in the previous two months, lured by much better margins, one northeast Asia-based source stated. The East-West price spreads still indicate the East as a. chose destination for January-loading freights, two analysts. stated. Some India-origin barrels will continue to get here on Asian. shores this month, as buying activity from northwest Europe will. require a long time to get and Asian prices need to compromise. even more for the arbitrage window to reopen, among the. Singapore-based trade sources said. About 600,000 barrels of India's jet fuel will be heading to. southeast Asia and Australia in January, one shipbroking source. said. Nevertheless, some traders expect jet fuel streams from the Middle. East and India to northwest Europe to emerge quickly, as. inventories at the Amsterdam-Rotterdam-Antwerp (ARA) refining. and storage hub have actually dropped near eight-month. lows. China-origin barrels will keep Asian markets fully supplied. in these 2 months and swing providers might wind up finding. need outlets west once again, a third trade source stated.
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Latest on proposed $15 bln merger of Nippon Steel, US Steel
U.S. President Joe Biden has actually decided to formally block Nippon Steel's proposed purchase of U.S. Steel, a person acquainted with the decision stated on Friday. Biden, President-elect Donald Trump and a. politically-influential labour union had actually voiced opposition to. the effort by Japan's top steelmaker to acquire the renowned. American firm that helped construct the Empire State Building and. arm allied forces in World War 2. World Steel Association data showed the estimated. $ 15-billion merger would have produced the world's third-largest. steelmaker after China's Baowu Steel Group and Luxembourg-based. ArcelorMittal. U.S. Steel's shares had actually toppled in recent weeks following a. Bloomberg report that Biden planned to kill the merger. Here is a take a look at the current developments: NATIONAL SECURITY CONCERNS The Committee on Foreign Investment in the United States, a. government panel that examines incoming foreign investment for. national security threat, had been reviewing the transaction for. months. However it was not able to reach an agreement and late last month. described Biden the choice on whether to approve the deal,. the companies said. In August, the panel informed the companies in a letter that the. tie-up might harm the supply of steel needed for important. transportation, building and farming projects, Reuters. reported. Days later sources stated Biden was poised to block the offer. But the panel decided to extend considerations, pressing the. decision back to after the Nov. 5 presidential election. Nippon Steel had actually repeatedly said it was positive of closing. the offer by the end of 2024. TRUMP'S STANCE Trump, who takes office on Jan. 20, has actually repeatedly sworn to. block the sale. I am totally against the once great and effective U.S. Steel. being purchased by a foreign business, in this case Nippon Steel of. Japan, he composed on his Fact Social platform last month. As president, I will obstruct this offer from occurring. Purchaser. Beware!!! OUTCOME OF A BLOCK U.S. Steel has formerly stated the offer's failure would put. at danger countless U.S. union tasks and it might be forced to. close some steel mills. The United Steelworkers union, which. opposes the deal, has called those assertions baseless hazards. and intimidation. Nippon Steel previously stated it was thinking about all possible. procedures, including legal action, to close an offer it views as key. to its future growth. But some lawyers, such as Nick Wall, M&A partner at Allen &&. Overy, have actually stated mounting such a legal obstacle would be difficult. Nippon Steel had actually committed to paying a $565-million break-up. fee to U.S. Steel if the deal did not get regulative approval,. according to a U.S. Steel filing in January.
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Trump contacts us to 'open up' North Sea, get rid of windmills
U.S. Presidentelect Donald Trump called to open up the North Sea and get rid of windmills in a. post on his social networks platform Truth Social on Friday. Oil business have been progressively exiting the North Sea in. recent decades with production decreasing from a peak of 4.4. million barrels of oil comparable daily at the start of the. millennium to around 1.3 million boed today. Trump's post remained in response to a report about U.S. oil and. gas producer APA Corp's unit Apache's plans to leave. North Sea by year-end 2029. The business anticipates North Sea. production to fall by 20% year over year in 2025. In October last year, the British government said it would. increase a windfall tax on North Sea oil and gas manufacturers to. 38% from 35% and extend the levy by one year. The federal government. wants to use the revenue from oil and gas to raise funds for. renewable resource tasks. Britain has a target to mainly decarbonise its power sector. by 2030 which will imply lowering its dependence on gas-fired power. plants and quickly increasing its sustainable power capability. North Sea manufacturers have actually alerted that the greater tax rate. could result in a sharp drop in financial investments and are leaving from. the aging basin ahead of the brand-new tax boosts. Top British North Sea manufacturer Harbour Energy wants to sell. stakes in North Sea oilfields and is reviving prepare for a U.S. listing, Reuters has previously reported. U.S. oil significant Exxon. completed its exit from the North Sea region in July last year. The North Sea has actually seen significant wind farm advancement by. Britain and European nations, however the rapidly-growing offshore. wind sector has had a tough few years as costs ballooned due to. technical and supply chain problems along with greater interest. rates, leading lots of business to evaluate financial investments. Business are reevaluating their investments in offshore. wind, or have actually assumed impairments, due to the rising cost of. developing wind farms that can be more than 100 kms (62 miles). offshore. Orsted, the world's most significant overseas wind farm. designer, trimmed its investment and capacity targets last. year.
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Financial Times - Jan 3
The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not guarantee their precision. Headlines - Friedrich Merz promotes EU free trade handle Donald Trump's United States - EU's energy fixation left water crisis uncontrolled, top main warns - Louise Casey to lead UK review into fixing social care crisis - UK tech secretary backs away from social networks restriction for under-16s Overview - Friedrich Merz, the German conservative leader, said the European Union ought to make a fresh attempt at a sweeping free trade handle the U.S. as soon as Donald Trump becomes president. - The European Union need to urgently address water scarcities and find new methods to finance improvements to its leaking pipelines, Jessika Roswall, the bloc's environment commissioner stated. - The UK government designated Louise Casey to lead a. four-year, cross-party task force into the future of social care. to try to get to grips with one of the country's most. intractable political problems. - UK's technology secretary Peter Kyle stated he has no strategies. to prohibit children aged under 16 from accessing social media,. rotating far from it being an alternative on the table.
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Newest on proposed $15 bln merger of Nippon Steel, US Steel
U.S. President Joe Biden has chosen to officially obstruct Nippon Steel's proposed purchase of U.S. Steel, a person familiar with the choice said on Friday. Biden, President-elect Donald Trump and a. politically-influential labour union had actually voiced opposition to. Nippon Steel's acquisition of U.S. Steel, which. assisted develop the Empire State Structure and arm allied forces in. World War Two. World Steel Association information revealed the approximated $15. billion merger offer would have created the world's third-largest. steelmaker after China's Baowu Steel Group and Luxembourg-based. ArcelorMittal. U.S. Steel's shares had actually toppled in recent weeks following a. Bloomberg report that Biden planned to kill the merger. Here is a take a look at the most recent developments: APPROVAL The Committee on Foreign Financial Investment in the United States, a. federal government panel that examines incoming foreign financial investment for. national security danger, had actually been evaluating the deal for. months. In late August, it notified the 2 companies of associated. threat, Reuters reported, and days later on sources said Biden was. poised to block the deal. However the panel decided to extend considerations, pressing the. choice back to after the Nov. 5 presidential election, Reuters. reported in September. Nippon Steel had consistently said it was positive of closing. the offer by the end of 2024. TRUMP'S POSITION Trump had consistently vowed to block the sale. Purchaser. Beware!, he composed on his Truth Social platform last month. OUTCOME OF A BLOCK U.S. Steel has formerly said the offer's failure would put. countless U.S. union tasks at danger and that it might be forced. to close some steel mills. The United Steelworkers union, which. opposes the offer, has actually called those assertions baseless threats. and intimidation. Nippon Steel formerly said it was thinking about all possible. measures, including legal action, to close a deal it sees as secret. to its future growth.
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Biden to block US Steel sale to Japanese buyer, source says
U.S. President Joe Biden has actually chosen to officially obstruct Nippon Steel's. proposed $14.9 billion purchase of U.S. Steel, an individual. knowledgeable about the choice said on Friday, putting an end to a. longrunning and controversial merger strategy. The Committee on Foreign Investment in the United States. ( CFIUS) had formerly referred the choice to approve or block. the deal to Biden, who will leave office on Jan. 20. Biden's call to obstruct the deal was taken regardless of contrary. efforts by some senior consultants worried that it could harm. U.S.- Japan relations, according to the Washington Post, which. first reported the news. It cited two administration authorities who were not. authorized to speak openly about the matter. A White House spokesperson declined to comment on the. reports. A source informed Reuters a decision by Biden was anticipated. as quickly as Friday. A spokesperson for Nippon Steel declined to. talk about the report. U.S. Steel directed Reuters to a declaration previously on. Thursday saying it hoped Biden will do the ideal thing and. comply with the law by authorizing a deal that so clearly. improves U.S. national and financial security. Nippon paid a large premium to clinch the purchase of the. No. 2 U.S. steel producer in a December 2023 auction, but the. deal faced opposition from the effective United Steelworkers. union (USW), in addition to politicians. Biden has said he desires U.S. Steel to be domestically owned. and run, while President-elect Donald Trump has vowed to block. the offer after he takes office in January. Despite the opposition, U.S. Steel investors voted. overwhelmingly to authorize the acquisition last April. The two companies had also worked to mitigate concerns over. the merger. Nippon offered to move its U.S. headquarters to. Pittsburgh, where the U.S. steelmaker is based and assured to. honor all arrangements in location in between U.S. Steel and USW. Today, a source familiar with the matter stated Nippon. Steel had actually likewise proposed giving the U.S. government veto power. over any prospective cuts to U.S. Steel's production capacity, as. part of its efforts to protect Biden's approval. Japanese Prime Minister Shigeru Ishiba advised Biden to. approve the merger to prevent ruining recent efforts to enhance. ties in between the 2 key allies, Reuters reported in November. Japan's stock market was closed for a public vacation on. Friday. U.S. Steel shares closed down 4.1% on Thursday. METI, Japan's industry ministry, and a spokesperson for. Ishiba might not be grabbed a remark, since of the. holiday.
Britain's energy cost cap to increase 3% in April, Cornwall Insight says
Britain's domestic energy cost cap is anticipated to rise a more 3% in April, with geopolitical instability keeping wholesale energy costs high, analysts at Cornwall Insight stated on Tuesday.
The price cap is already set to rise by 1% in January and a. more boost would be a blow to Britons hoping energy prices. would cool to assist them deal with an expense of living squeeze and. help suppress inflation.
With a Trump presidency on the horizon, and an unsure. geopolitical circumstance in the Ukraine and the Middle East,. wholesale market volatility looks set to stay, Craig Lowrey,. principal expert at Cornwall Insight, said.
Energy regulator Ofgem sets a cap on household energy costs. each quarter utilizing a formula that reflects wholesale energy. prices and likewise takes into account providers' network expenses and. ecological and social levies.
Cornwall Insight projections Ofgem's cost cap will increase in. April to 1,785 pounds ($ 2,243) a year based upon typical use, up. from 1,738 pounds a year in January.
Criteria British gas prices have actually increased around 20% in the. past 2 weeks as cooler weather has actually resulted in more withdrawals. from gas storage sites throughout Europe and with an offer for Russian. gas supplies to stream to Europe via Ukraine set to expire at the. end of the year.
Lowery stated high volatility in the market suggests the cap. projection might change again before being set by Ofgem towards. completion of February.
(source: Reuters)