Latest News
-
Phillies win another game against Yankees with Kyle Schwarber
Kyle Schwarber was named MVP for his three home runs in the All-Star Game swing-off. Schwarber has been on a roll since the All-Star Break. He will try to continue this power surge when the Philadelphia Phillies host the New York Yankees Saturday afternoon. Schwarber hit two home runs of at least two runs Friday night, as Philadelphia won the first game in the three-game set 12-5. Schwarber hit his 35th, 36th and 37th home runs by hitting a tie-breaking shot off New York rookie Will Warren in the fifth and a drive against Ian Hamilton in eighth. Schwarber has now hit six home runs in seven games after the break, his second multiple-homer performance of the season. This was his fourth three-hit outing this season. Schwarber has hit 10-for-29 since the break (.345) and reached 1,000 career home runs with his first homer in the Friday game. J.T. Realmuto hit a three-run homer in the seventh. The catcher has batted.388 in his last 16 games (26-for67). Since Cody Bellinger's three homers during an 11-0 win over the Chicago Cubs, on July 11, the Yankees have gone 3-6. New York made two more mistakes on Friday. This brings the total to nine in their last four games. Paul Goldschmidt made a throwing mistake at first base, two pitches before Luke Weaver's homer. Bellinger, Austin Wells and Giancarlo Stanton all homered for the Yankees. However, their bullpen allowed 10 runs over four innings. New York's pitching staff has a 6.20 ERA, the worst in all of Major League Baseball. Goldschmidt stated, "It's easy to play better." "Mistakes like I made tonight. We need to reduce the number of mistakes we have made. We're trying to have those conversations, but we made too many mistakes." After being acquired by the Colorado Rockies, Ryan McMahon will debut at third base. Ranger Suarez (7-4 with a 2.66 ERA) will be the Phillies' starter on Saturday. He is 0-2 and has a 5.62 ERA over his last three starts. Suarez had allowed three runs in his previous 12 starts, but gave up six in four and a third innings in Sunday's 8-2 loss at home to the Los Angeles Angels. Suarez has a 4.50 ERA and a 0-1 record in his two career appearances, both relief appearances in 2021. Schwarber has a 3-for-14 record (.214) against Marcus Stroman, New York's scheduled starter for Saturday (2-1, 5.64). Stroman has a 2-0 record with a 3.00 ERA after four starts following a two-month hiatus due to left knee inflammation. Stroman's best performance of the season came in Sunday's 4-2 victory over Atlanta, when he gave up just one run and five hits across a season high six innings. He threw 95 pitches, a new season high. Stroman has a 6-4 record with a 2.26 ERA over 13 appearances (11 starting) against Philadelphia. He has limited the Phillies' offense to no more than two runs 11 times. Field Level Media
-
Thailand's PTTEP purchases full control of offshore gas block from Chevron at $450 million
PTT Exploration and Production, a Thai oil and natural gas company, has purchased full ownership of Block A-18 within the Malaysia-Thailand Joint Development Area. The transaction was worth $450 million and involved Chevron unit. PTTEP announced in a late Friday statement that it had signed the deal with Hess Asia Holdings and Hess (Bahamas), both of which are now owned by Chevron after a recent merger between Hess Corp. PTTEP announced that the acquisition gave it 100% of Hess International Oil Corp's outstanding shares, which hold a 50% participation interest in Block A-18. Chevron is reorganizing its global operations to reduce costs and streamline operations. This could result in the company laying off as much as 20% of their workforce by next year. Chevron, as reported in June, is also looking for buyers for its 50 percent stake in the Singapore refinery. PTTEP stated that natural gas from Block A-18 was fundamental for the generation of electricity in southern Thailand. The block produces approximately 600 million standard cubic foot of gas per day which is distributed equally to Thailand and Malaysia. In a statement, Montri Rawanchaikul, Chief Executive Officer of PTTEP said: "PTTEP looks forward to expanding our operations in MTJDA. This area is known for its oil potential and strategic importance to Thailand's security in energy." According to a statement, the MTJDA is a 7,250 sq km (2.800 sq mile) area in the southern Gulf of Thailand. It is regarded as a major source of condensate and natural gas for Thailand and Malaysia. (Reporting and editing by Tom Hogue; Yantoultra ngi)
-
Scottish Floating Wind Farm Gets Construction and Operation Go-Ahead
The Scottish Government has granted joint venture partnership between Ørsted, Simply Blue Group and Subsea7, the developers of Salamander floating offshore wind farm, a go-ahead to build and operate the 100 MW floating wind array.Salamander offshore wind farm has been awarded Section 36 Consent and associated Marine Licences, securing all approvals for the construction and operation of the project, sited approximately 35 km off the coast of Peterhead in Scotland.The 100 MW project is expected to play a crucial role in unlocking the full potential of Scotland’s deepwater wind resources and setting the stage for future ScotWind developments by demonstrating cutting-edge floating wind technology at a commercial scale.Salamander is the first of the innovation (IN) projects from the INTOG leasing round to reach this stage. Combined with the recent award of onshore Planning Permission in Principle for the project’s onshore works in March 2025, the latest consent ensures that the project remains on track for deployment before the end of 2030.Focus will now shift to working with Crown Estate Scotland to secure the Option Agreement and then preparing to secure a Contract for Difference for the project.“Coming hot on the heels of the onshore consent, this is yet another major achievement by the project team. While we worked proactively with MD-LOT in an attempt to achieve offshore consent - including compensation plans - within the 12-month target window, award within 15 months reflects our team’s expertise, passion, commitment and seamless teamwork,” said Hugh Yendole, project director for Salamander.
-
US Looks Into Allowing Limited Oil Operations in Venezuela
The United States is preparing to grant new authorizations to key partners of Venezuela's state-run PDVSA, starting with Chevron, to allow them to operate with limitations in the sanctioned OPEC nation and swap oil, five sources close to the matter said on Thursday.If granted, the authorizations to the U.S. oil major, and possibly also to PDVSA's European partners, would mark a policy shift from a pressure strategy Washington adopted this year on Venezuela's energy industry, under U.S. sanctions since 2019.President Donald Trump's administration might now allow the energy companies to pay oilfield contractors and make necessary imports to secure operational continuity.Some imports could be swapped for Venezuelan oil, as authorized in previous licenses, three of the sources said.A senior State Department official said in a statement they could not speak about any specific licenses to PDVSA's partners, but added the United States would not allow President Nicolas Maduro's government to profit from the sale of oil.A source in touch with U.S. and Venezuelan officials said it was difficult to understand how Maduro's government would not benefit from cargoes Chevron can sell to the U.S., and later on Thursday Maduro hailed work done to keep Chevron in the country."There are already working groups so that Chevron can re-incorporate its functions," Maduro told an interview with Telesur, adding that Chevron's top leadership had already been informed of licenses so it can keep operating in Venezuela.Chevron shares touched $155.93 on Thursday, their highest level since April 3, according to LSEG data."Chevron conducts its business globally in compliance with laws and regulations applicable to its business, as well as the sanctions frameworks provided for by the U.S. government, including in Venezuela," a company spokesperson said.The move to ease some restrictions on Venezuela’s oil sector follows a prisoner swap this month in which Maduro released 10 American detainees while accepting the return of more than 200 Venezuelans who had been deported from the U.S. and held in an El Salvador prison.Relations between the two countries have been tense for years, and the Trump administration has publicly supported opposition leaders who say their candidate won last year's election, not Maduro.Trump in February announced the cancellation of a handful of energy licenses in Venezuela, including Chevron's, and gave until late May to wind down all transactions.The move left all operations in oil and gas joint ventures with Chevron and other partners in PDVSA's hands, but the companies were authorized to preserve their stakes and output remained almost unchanged.The U.S. State Department, which in May blocked a move by special presidential envoy Richard Grenell to extend the licenses, is this time imposing conditions on any authorization modifications, so that no cash reaches Maduro's coffers, the three sources said.In the past, U.S. officials have promised no money would reach Maduro from oil proceeds despite licenses. But it did because PDVSA demands tax and royalties to be paid before granting exports permits. Even if parties agree to oil swaps, those arrangements save PDVSA, and ultimately Maduro's government, millions of dollars per year in imports.Secretary of State Marco Rubio is not expected this time to ban the authorizations, but is negotiating their scope, they added.It was not immediately clear if the terms of the license that could be granted to Chevron would be reproduced for other foreign companies in Venezuela, including Italy's Eni ENI.MI and Spain's Repsol REP.MC, which have been asking the U.S. to allow them to swap fuel supplies for Venezuelan oilThe authorizations might remain private, one of the sources said.The U.S. Treasury Department's Office of Foreign Assets Control and PDVSA did not immediately respond to requests for comment.Where Will the Oil Go?Following the cancellation of Chevron's license earlier this year, Trump announced the imposition of secondary tariffs on buyers of Venezuelan oil.But the measure, expected to severely hit Venezuela's main crude buyer China, has not been enforced, allowing the South American country to divert to Asia crude grades that were previously sold to U.S. and European refiners through PDVSA's joint-venture partners.The reshuffle, which has maintained Venezuela's oil output and exports close to the levels they were at before the license cancellations, has been criticized by politicians in Washington and was discussed as part of talks for the new authorizations, the sources said.During former U.S. President Joe Biden's administration, targeted licenses to PDVSA's partners allowed Western refiners to regain access to Venezuelan supplies, but they also granted a stable source of cash to Maduro's administration as the companies were required by Venezuela to pay royalties and taxes.(Reuters - Reporting by Marianna Parraga in Houston and Timothy Gardner and Matt Spetalnick in Washington and Deisy Buitrago in Caracas; additional reporting by Sheila Dang, Rodrigo Campos and Andrea Shalal; Editing by Marguerita Choy)
-
Zelenskiy: Ukraine faces fierce fighting in the eastern city of Pokrovsk
Volodymyr Zelenskiy, the president of Ukraine, said that on Friday the Ukrainian forces were fighting fiercely around Pokrovsk. This is a logistical hub in the east where Russia has announced the capture of villages almost every day. Zelenskiy said in his video nightly address that Ukraine's top general, Oleksandr Syrskyi, had told a senior official meeting the situation in Pokrovsk is the main focus of the war. The war began in February 2022 when Russia invaded Ukraine. Pokrovsk was given special attention. Zelenskiy stated that it receives the greatest attention. He said that Ukrainian forces were "continuing to operate" in border zones in the northern Sumy Region, where Russian troops had gained a foothold over recent weeks. In a separate Telegram report, Syrskyi described Pokrovsk as one of the most difficult theaters along the 1,000 km (620 miles) front. Syrskyi wrote that "The Russian Federation pays the maximum price for trying to launch a summer offensive." Since months, Russian forces have been closing in on Pokrovsk. This road and rail hub's pre-war population has been almost completely evacuated. Syrskyi reported in May that Kyiv had stabilized the situation in the area, which is also home to the only coal mine in Ukraine that produces coking coal used in the steel industry. The Russian Defence Ministry announced on Thursday that two villages to either side of Pokrovsk - Zvirove in the west and Novoekonomichne in the east - had been captured. Moscow declared Novotoretske, a third village in proximity to the city, "liberated" on Wednesday. The Ukrainian government has not acknowledged that villages have changed hands. In an evening report, the General Staff of Ukraine’s military stated that two of these villages -- Zvirove et Novoekonomichne -- were in areas where Russian soldiers were trying to penetrate Ukrainian defenses. The popular Ukrainian military blog DeepState reported that Kyiv forces had recaptured a village in Sumy, where Russian troops were trying to establish a "buffer area" as Kremlin Leader Vladimir Putin has called it. DeepState, a website that relies on reports from open sources to track the presence and movements of Russian troops, reported that Ukrainian troops had regained control of the village of Kindrativka. No official comments were made by either side. (Reporting and editing by Rosalba o'Brien, Oleksandr kozhukhar)
-
Investors eye possible US-Europe trade deal as deadline looms
Investors hope that a possible trade agreement between the U.S., and European Union will bring more certainty to the markets before next Friday's deadline for tariffs. Ursula von der Leyen, the European Commission president, was scheduled to meet Donald Trump in Scotland on Sunday after EU officials and diplomatics had said that they were expecting to reach a framework agreement this weekend. Trump said on Friday that there was only a 50-50 or less chance of the U.S. and EU reaching a trade deal. The trade tensions between Europe and the U.S. may have given some investors a reason to be cautious. This is according to Sameer Samana. He is the head of global equity and real assets for the Wells Fargo Investment Institute. It's our largest trading relationship... If that last piece falls in place, you will probably have at least a few more people who need to return to the markets," Samana explained. It's a source that will disappear. The officials and diplomats stated that a deal would include a baseline 15% tariff on all EU products entering the U.S., and likely a 50% duty on European steel and aluminium. The optimism about easing trade tensions in general has pushed U.S. stock prices to record highs. Stocks fell in the immediate wake of Trump's "Liberation Day," April 2, announcement that sweeping tariffs would be applied to all countries. This was due to fears about recession, which have since subsided. Investors have braced themselves for an increase in volatility as the U.S. sets August 1 as a deadline to raise levies against a wide range of trading partners. Trump said that he will increase the tariffs to 30% by August 1 on all EU goods. The EU faces U.S. duties on more than 70 percent of its exports. These include 50% on steel, aluminum and cars, and 25% on car parts. After Trump's trade deal with Japan, hopes for a deal in Europe increased. Capital Economics analysts said that the deal with Japan, and likely the one with the EU soon afterward, are of particular importance because both countries are important U.S. trade partners. They account for about a quarter each of the country's goods imports. The agreement with Japan will reduce the existing tariffs on the auto sector of the United States, which account for more than 25% of the exports. Previously, these levies were as high as 27.5%. Capital Economics stated that an agreement lowering EU auto tariffs by 15% would be a "big deal" not only for the region, but also because about 10% of the region's shipments to the U.S. fall into the same category. Over the weekend, investors were also keeping an eye on developments in the trade between the U.S.A. and China. Next week, officials from both countries will meet in Stockholm to discuss the extension of an August 12 deadline to negotiate a deal. (Reporting and editing by Alden Bentley, Edward Tobin and Lewis Krauskopf)
-
Trump tariffs on Brazil's chemical exporters lead to order cancellations
Brazilian chemical companies, who exported $2.4 billion in products to the U.S. during the past year, are facing a wave of contract cancellations, as President Donald Trump threatened a new tariff of 50% on Brazil's exports starting August 1. Andre Cordeiro of Brazilian chemical lobby Abiquim said that since Trump's announcement export orders for certain resins, compounds and other materials used in the production of fertilizers have been cancelled. Brazil supplies these products to the U.S. agricultural sector. Cordeiro explained that "fundamentally these decisions are made because it is bet on whether he will apply the tariff." Cordeiro added that some other companies have also had contracts cancelled. In some cases, sellers have secured export finance for an order that was later revoked. He refused to identify the exporters. He said that the losses associated with tariffs extend beyond direct exports. Almost every industry, from steel to oil, machinery to agricultural products, uses chemicals to manufacture their products. No one can produce coffee or grains without using some type of chemical product. Cordeiro said that the chemical industry is losing both export business as well as local sales from clients who export goods to the U.S. He said that Brazilian plywood exporters use chemicals to bond and have themselves faced cancellations of orders from the United States. Chemical preservatives are also used by orange juice producers, who sent 42% their exports to America last year. Brazilian companies such as Braskem could be affected by the U.S. Dow Chemical, with its 10 plants in Brazil, and large exports of silicon for processing to the U.S. is also in danger. Braskem and Dow have not yet commented. Exxon Mobil operates in Brazil, but declined to comment. It serves clients from various industries. Abiquim said that tariffs were unjustified due to Brazil's chemical industry running a trade deficit of $7.9 billion with the U.S. (Reporting and editing by David Gregorio.)
-
MSF reports that at least 652 Nigerian children have died of malnutrition during the last six months.
Medecins Sans Frontieres reported on Friday that at least 652 children in Nigeria's state of Katsina died of malnutrition during the first half of 2025. The organization attributed this to the funding cuts made by international donors. Insecurity is a problem in Katsina in the north. MSF (also known as Doctors Without Borders) said that the massive budget cuts in the United States, United Kingdom and European Union are having a real impact on malnourished children. The United Nations Food Agency announced on Wednesday that it would be forced to stop food and nutrition assistance for 1.3 millions people in the northeast of Nigeria, which is ravaged by insurgency. Stocks have run low. The United States withdrew funding from the health sector, and Nigeria budgeted 200 billion Naira ($130million) to cover the shortfall. MSF reported that the number of Katsina children with severe malnutrition increased by 208% in comparison to the same period in the previous year. "Unfortunately, 652 children have died in our facilities as of the start of 2025." Insecurity in Katsina has forced many to abandon their farms due to banditry. In an effort to curb the activities of criminals, both the government and local vigilante groups have worked together.
Trump's trade tariffs and threats
Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries.
Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market selloff.
Here's a summary of Trump’s threats and actions in relation to trade.
BROAD TARIFFS
Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods.
Last month, Trump asked his team of economists to devise plans for reciprocal duties on all countries that tax U.S. imports. They also had to come up with ways to combat non-tariff barriers, such as vehicle safety regulations that exclude U.S. automobiles and value added taxes that raise their costs.
Trump announced on March 30 that he planned to announce a massive tariff program, which he called "Liberation Day." All nations will be included in the reciprocal tariffs that he plans to announce.
The potential counter-tariffs imposed by global trading partners on U.S. agricultural and energy exports, as well as machinery and equipment, could escalate into a world trade war and create uncertainty for investors and businesses.
Specific COUNTRIES
Trump's tariff proposal targets several key trading partners.
MEXICO AND CANADA : Mexico and Canada were the two largest trading partners of the U.S. from 2024 to November. Trump's new tariffs of 25% on imports from Mexico, Canada and the European Union took effect on 4 March as a response to migration and fentanyl.
Tariffs were imposed on the majority of goods imported from Mexico and Canada. A 10% tax was also imposed on Canadian energy imports. Canada exports mainly crude oil, other energy products and cars and auto components within the North American automotive manufacturing chain. Mexico exports a variety of goods to the U.S., including industrial and automotive products.
Canada retaliated with 25% tariffs against US imports worth C$30 billion (US$20.7 billion), including orange juice and peanut butter. Other products include beer, coffee, motorcycles, appliances, and motorbikes.
The Canadian government said that it would add additional tariffs to C$125 billion worth of U.S. products if Trump's Tariffs are still in effect in 21 days. This could include vehicles, steel and aircraft, as well as beef and pork.
In his address to Congress on March 4, Trump said that further tariffs will be implemented by April 2, including "reciprocal duties" and non-tariff measures to address trade imbalances.
U.S. Commerce secretary Howard Lutnick stated that U.S. officials could still work out a partial solution with the two neighboring countries, and added that they need to do more in the fentanyl arena.
Trump retracted his planned tariffs of 50% on Canadian steel and aluminum after a Canadian official backed down from plans to impose a 25% surcharge for electricity exported to the United States.
Canada, which is the largest foreign supplier of aluminum and steel to the United States (C$29.8 Billion), announced on March 12 that it would impose retaliatory duties on U.S. imports worth C$29.8 Billion ($20 billion) as a response to Trump’s steel and aluminium tariffs.
CHINA: Trump imposed 10% tariffs on all Chinese imports to the U.S. effective February 4, after repeatedly warning Beijing that it was not taking enough measures to stop the flow of illegal drugs into the United States.
Trump then added another 10% tariff on Chinese products, which took effect on March 4. This is on top of the 25% tariffs that were imposed during Trump's initial term on Chinese imports.
China announced additional tariffs between 10% and 15% on some U.S. Imports starting March 10, as well as a number of new export restrictions for certain U.S. Entities. It then complained to the World Trade Organization about the U.S. Tariffs.
China announced on March 12, that it will take all measures necessary to protect its rights and interest, following the increase in tariffs by U.S. president Donald Trump on U.S. imports of steel and aluminum.
Trump has said that the EU, and other countries, have alarming trade surpluses against the United States. He said that the products of the other countries will be subject to tariffs, or he would demand they purchase more oil and natural gas from the U.S. despite the fact that U.S. export capacity for gas is close to its limit.
In a statement released on 14 February, the European Commission stated that the "reciprocal trade policy" was a step backwards.
Trump has threatened to impose a "reciprocal rate" of 25% on European goods. Pharmaceuticals are among the industries that could be affected, since U.S. companies such as Johnson & Johnson, Pfizer, and others have large facilities in Ireland. Ireland is also a leading exporter of medical equipment.
In response to the U.S. blanket tariffs on aluminum and steel, the European Union announced on March 12 that it would begin imposing counter-tariffs next month on goods worth 26 billion euros.
Trump announced on March 13 that he would slap 200% tariffs on European wines and spirits as a response to EU plans to impose tariffs next month on American whiskey, among other products.
PRODUCTS
AUTOS: Trump announced a 25% tariff for imported cars and light truck on March 26. The 25% tax would be added to previous duties on imported finished vehicles beginning on April 3.
Trump's directive includes temporary exemptions for auto components that comply with the U.S. Mexico Canada Agreement (USMCA), a trade agreement that Trump negotiated in his first term.
The tariffs will apply to other major imports of automotive parts. These are identified by Trump as "engines and engines parts, transmissions, powertrain components, and electrical component" and they will be imposed on a specific date that is to be announced in the Federal Register, but no later than "May 3, 2025."
Metals: On March 12th, Trump raised tariffs for all imports of steel and aluminum to 25% and extended duties to hundreds downstream products. These include everything from nuts and bolts, to bulldozers blades, to soda cans.
More than half of the U.S.'s aluminum and steel imports come from Canada, Mexico, and Brazil.
Trump ordered on February 25, a new investigation into the possibility of new tariffs on imports of copper to rebuild U.S. manufacturing of this metal, which is critical for electric vehicles, military equipment, semiconductors, and a variety of consumer goods.
Just over half of the refined copper that America consumes every year is produced domestically.
SEMICONDUCTORS : Trump stated that tariffs would start at "25% or higher" and increase substantially over a period of one year. He did not specify when they will be implemented.
Taiwan Semiconductor Manufacturing Co., the largest contract chipmaker in the world, produces semiconductors for Nvidia and Apple, among other U.S. customers. In 2024, it will generate 70% of its revenues from North American clients.
LUMBER: On March 1, Trump ordered a new investigation into trade that could add more tariffs to imported lumber. This would be in addition to the existing duties on Canadian Softwood Lumber and 25% tariffs for all Canadian and Mexican products.
ALCOHOL: Trump threatened on March 13 to slap 200% tariffs on wine, cognac, and other alcohol imported from Europe in response to the European Union's plan to impose tariffs next month on American whiskey and products -- which is itself a retaliation for Trump's 25% tariffs that went into effect on steel and aluminium imports the day before. Reporting by Anjana Anil in Bengaluru, Puyaan, Seher, Anmol, Choubey, Arasu, Kannagi, Basil, Aatreyee, Dasgupta, and Vallari Srivastava. Editing by Sriraj, Marguerita, and Alan Barona.
(source: Reuters)