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October 18, 2021

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Price pinch: global economy caught in perfect storm

Reuters
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Britain’s chicken king says 20-year cheap food binge over IEA says energy crisis could threaten economic recovery Cold keeps China coal prices high, power crunch continues Biden targets bottlenecks threatening holiday sales LONDON/TOKYO, Oct 14 (Reuters) – From beef bowls in Tokyo to fried chicken in London, consumers are beginning......
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Nippon Steel sues Toyota, Baoshan for patent infringement

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A production line of Nippon Steel & Sumitomo Metal Corp.’s Kimitsu steel plant is pictured in Kimitsu, Chiba Prefecture, Japan, May 31, 2018. REUTERS/Kim Kyung-Hoon/File Photo TOKYO, Oct 14 (Reuters) – Japan’s Nippon Steel & Sumitomo Metal Corp (5401.T) on Thursday said it has filed patent infringement lawsuits against Toyota......
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Saudi to supply additional crude to some Asian refiners in Nov -sources

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A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov SINGAPORE, Oct 11 (Reuters) – Saudi Aramco (2222.SE) has agreed to supply additional crude to at least two North Asian buyers in November, while meeting full contractual volumes for three......
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Chile prosecutors to investigate President Pinera following Pandora papers leak

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SANTIAGO, Oct 8 (Reuters) – Chile’s public prosecutor said on Friday it would open an investigation into the sale of a mining project involving the family of President Sebastian Pinera after new details emerged about the transaction in the Pandora papers leak. Marta Herrera, head of the office’s anti-corruption unit,......
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Journalists who took on Putin and Duterte win 2021 Nobel Peace Prize

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Graphic of Nobel laureates: OSLO, Oct 8 (Reuters) – Two journalists whose work has angered the authorities in Russia and the Philippines were awarded the Nobel Peace Prize on Friday, honouring the right to free speech which the prize-giving committee described as under threat around the globe. Maria Ressa and......
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China calls for huge boost in coal output to fight power crunch

Reuters
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Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee in Australia, March 8, 2018. REUTERS/David Gray/File Photo Orders immediate rise in output at 72 mines in Inner Mongolia Increase totals more than 98 mln tonnes of capacity -Reuters......
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British industry urges govt action on energy prices, supply

Reuters
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Vehicles queue to refill at a BP fuel station in Milton Keynes, Britain, September 28, 2021. REUTERS/Andrew Boyers LONDON, Oct 7 (Reuters) – Britain’s Energy Intensive Users Group (EIUG) has asked the government and the energy regulator Ofgem to tackle high prices, which they say threaten businesses, and to ensure......
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Tesla’s gigafactory electrifies California-Germany culture clash

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BERLIN, Oct 7 (Reuters) – With final approval for its German factory potentially just weeks away, Tesla’s (TSLA.O) Elon Musk will make an appearance in the tiny town of Gruenheide this Saturday to host a county fair. Despite pandemic-related curbs limiting gatherings in Germany to under 5,000 people, Tesla applied......
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Column: Contrary copper remains out of favour with fund managers: Andy Home

Reuters
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A vendor shows copper components used for plumbing seen on sale at the Surtidora Ferretera River Store in Mexico City, Mexico October 24, 2017. REUTERS/Henry Romero/File Photo LONDON, Oct 5 (Reuters) – These are turbulent times for commodities as surging energy prices ripple down supply chains, not least metallic ones.......
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World’s largest miners pledge net zero carbon emissions by 2050

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LONDON, Oct 5 (Reuters) – The world’s top miners on Tuesday committed to a goal of net zero direct and indirect carbon emissions by 2050 or sooner, the International Council on Mining and Metals (ICMM) said. “ICMM members’ collective commitment to net zero scope one (direct) and two (indirect) greenhouse......
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Made-from-CO2 concrete, lululemons and diamonds spark investor excitement

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Oct 4 (Reuters) – What do diamonds, sunglasses, high-end lululemon sportswear and concrete have to do with climate change? They can all be made using carbon dioxide (CO2), locking up the planet warming gas. And tech startups behind these transformations are grabbing investor attention. Some use bacteria. Some use proteins.......
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Big nations must stretch further to limit climate change – U.S. envoy Kerry

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MILAN, Oct 2 (Reuters) – The world’s major economies must “stretch to do more” at next month’s U.N. climate talks to show they are serious about wanting to tackle global warming, U.S. Climate Envoy John Kerry said on Saturday. The COP26 conference in Glasgow aims to secure more ambitious climate......
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EXCLUSIVE White House, top Democrats agree to boost carbon capture credit in budget bill -sources

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WASHINGTON, Oct 1 (Reuters) – The White House and top Democratic lawmakers have agreed to boost a tax credit for industrial carbon capture projects in a deal that could help solidify support for the budget reconciliation bill at the heart of President Joe Biden’s economic agenda, two sources with knowledge......
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REUTERS IMPACT China’s Huayou Cobalt seeks lithium as expands battery minerals portfolio

Reuters
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Batteries for electric vehicles are manufactured at a factory in Dongguan, China September 20, 2017. REUTERS/Bobby Yip BEIJING, Sept 30 (Reuters) – Zhejiang Huayou Cobalt (603799.SS) is seeking to invest in lithium mining and processing, its executive vice chairman told Reuters, as China’s biggest cobalt refiner strives to expand its......
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China power crunch slams factories as coal lobby warns woes could stay until winter

Reuters
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SHENYANG, China, Sept 30 (Reuters) – Small firms caught in China’s prolonged energy crunch are turning to diesel generators, or simply shutting shop, as coal industry officials voiced fears about stockpiles ahead of winter and manufacturing shrank in the world’s no. 2 economy. Beijing is scrambling to deliver more coal......
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EXCLUSIVE The king of oil bets on batteries for a green world

Reuters
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Alex Beard, head of oil at trading firm Glencore, looks on during an interview in Tlalnepantla, state of Mexico, Mexico, August 17, 2017. REUTERS/Ginnette Riquelme/File Photo Beard’s fund to invest in UK battery storage Batteries can cushion shocks and help power trading UK facing energy crisis LONDON, Sept 30 (Reuters)......
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In Arizona, Rio Tinto CEO seeks ‘win-win’ for Resolution copper project

Reuters
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A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray Sept 29 (Reuters) – A key Native American leader in Arizona declined to meet Rio Tinto Plc’s (RIO.L)(RIO.AX) chief executive this week, the latest roadblock in the mining......
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China energy crunch triggers shutdowns, pleas for more coal

Reuters
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Governor of Jilin province urges more coal imports Environmental checks, surging prices sap electricity generation Fears as power cuts hit traffic lights, 3G networks, factories State Grid Corp seeks to reassure residents on winter heating SHANGHAI, Sept 28 (Reuters) – China faces mounting pressure to ramp up coal imports and......
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China scrambles to fix power crunch, tame runaway raw material markets

Reuters
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BEIJING, Sept 24 (Reuters) – Roiled by widening power curbs that have disrupted industrial operations, Chinese commodity producers and manufacturers may finally be getting some relief. Beijing’s top economic planner, the National Development and Reform Commission, said on Friday it will work to resolve the power shortages that have plagued......
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Soaring gas prices ripple through heavy industry, supply chains

Reuters
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LONDON, Sept 22 (Reuters) – Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers. Some......
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