By Stephanie van den Berg and Anthony Deutsch THE HAGUE (Reuters) – The Geneva Conventions and its protocols explicitly ban war-time attacks on “installations containing dangerous forces” such as dams due to the risk posed to civilians, a prohibition likely to come into focus after the destruction of a huge Ukrainian dam. Ukraine accused Russia…
FRANKFURT (Reuters) -Global container shipping freight rates have reached unsustainable levels and must rebound, the chief executive of Germany’s Hapag Lloyd, the world’s number five operator by volume, said on Tuesday. “There are spot rates that are clearly below cost,” said CEO Rolf Habben Jansen in a call with journalists. “In the long run, that…
By Andrew Osborn (Reuters) -A gaping hole punched in Ukraine’s Nova Kakhovka dam that unleashed a wall of floodwater means that the canal which has traditionally met most of Crimea’s water needs is receiving drastically less water, the Kremlin warned on Tuesday. Russia and Ukraine have blamed each other for the breach at the Russian-controlled…
By Gabriela Baczynska BRUSSELS (Reuters) -European Union countries are expected this week to agree on how to share out the responsibility of hosting refugees and migrants, a top EU official said on Tuesday of what would mark a breakthrough after years of bitter feuds within the bloc. The EU’s migration chief spoke ahead of talks…
By Harry Robertson LONDON (Reuters) – New trades in the enormous U.S. dollar interest rate swap market have almost entirely stopped using the London Interbank Offered Rate (LIBOR) as the deadline for its demise approaches. A record 91% of new dollar swaps executed in May used the Secured Overnight Financing Rate (SOFR), the newly accepted…
By Gabriel Burin (Reuters) – Brazilian inflation probably declined to an eight-month low in May versus April, opening a much anticipated window for interest rate cuts in the second-half of the year, a Reuters poll of economists predicted. On a 12-month basis, consumer price data due Wednesday are expected to show the smallest rise in…
(Reuters) – Auto parts supplier BorgWarner on Tuesday forecast its electrified-vehicle business would generate about half of its total expected sales of over $10 billion by 2027, as the company looks to tap strong demand for cleaner modes of transport. It also expects the eProducts segment, which makes parts for EVs and hybrids, to bring…
(Reuters) – Jif peanut butter maker J M Smucker Co forecast a smaller-than-expected decline in annual revenue on Tuesday, betting on higher prices and steady demand for its ready-to-eat meals and snacks. Packaged food product makers have been bumping up prices to combat elevated raw materials, supply chain, labor and freight costs. Yet, they have…
ISTANBUL (Reuters) – Airlines on Tuesday called for co-operation on a broad front to reach “very tough” emission targets and pledged at the end of a three-day summit to release interim climate targets next year. The International Air Transport Association (IATA), grouping 300 airlines and representing about 80% of global traffic, said governments, planemakers and…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday raised interest rates by a quarter-point to an 11-year high, and warned that further tightening may be required to ensure that inflation returns to target. The hawkish message sent the local dollar surging and bond yields spiking, as markets quickly moved to price in an…
