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Turkey gets deals in 100,000 T durum wheat sale tender, traders say
The greatest price provided in the tender from Turkey's state grain board TMO to offer and export 100,000 metric tons of durum wheat which closed on Wednesday was examined at $304.75 a heap FOB, traders stated. The deal was stated to have actually been submitted by trading house Viterra for 50,000 loads in 2 25,000 ton consignments. No choice has yet been made and deals are still being considered, they said. Turkey generally undertakes a number of rounds of settlements in tenders seeking more beneficial rates. 3 other trading houses were reported to have gotten involved in the tender. Amber was said to have at first used $295.00 for 25,000 heaps, Erkan Agro $291.00 for 100,000 loads and Casillo $ 275.00 for 100,00 loads, all per heap FOB. Four consignments of 25,000 lots are offered for purchase. 2 deliveries each should be packed at the ports of Iskenderun and Mersin in 2025 between Jan. 6 and Jan. 27. Turkey prohibited wheat imports this fall after a good harvest, partially to secure farmers from low prices. Some traders stated Turkey has enhanced domestic grain products and requires to maximize some storage capability with grain export tenders. Reports show assessments from traders and further quotes of costs and volumes are still possible later.
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Auckland airport shares worth $773 mln on the block, term sheet programs
A near 10% stake in Auckland International Airport worth NZ$ 1.32 billion ($ 773.12. million) was being sold on Wednesday, as the city's council. transferred to unload its staying stake in the airport operator. The block trade had a floor rate of NZ$ 8.08 per share,. according to a term sheet seen . Investors were. welcomed to send bids in NZ$ 0.01 increments, the term sheet. showed. Auckland International Airport previously informed the nation's. stock market it had actually been alerted that the Auckland Council. had actually started a procedure to sell its 9.71% stake in the company. There were 163.2 million shares being offered in the trade,. the business stated. With the floor cost of NZ$ 8.08, the stock was being used. in line with the company's closing price on Tuesday. Last year, the Auckland Council decreased its stake in the. airport operator by about 7% after offering shares worth NZ$ 835.9. million. We believe that the stake sale might be seen as a cleaning. occasion for financiers to focus more on the operating and. basic outlook for Auckland Airport, Citi analysts stated. UBS is carrying out the block trade.
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Wall Street Journal - Dec 4
The following are the leading stories in the Wall Street Journal. Reuters has actually not validated these stories and does not attest their accuracy. - U.S. President-elect Donald Trump is thinking about dropping his candidate to lead the Pentagon, Pete Hegseth, and nominating Florida Guv Ron DeSantis in his place. - South Korean President Yoon Suk Yeol stated on Wednesday he would lift a surprise martial law statement he had actually imposed simply hours previously, pulling back in a standoff with parliament which roundly rejected his effort to prohibit political activity and censor the media. - U.S. President-elect Donald Trump's option to lead the Drug Enforcement Administration, Chad Chronister, said on Tuesday he was withdrawing from factor to consider, ending up being the second Trump pick to do so not long after being chosen. - Wells Fargo is checking out the sale of the San Francisco building where its head office are located. - Prudential Financial said Executive Chairman Charles Lowrey will step down as chief executive next year and be succeeded by an executive vice president at the company. - Logistics providers GXO Logistics CEO Malcolm Wilson notified the board of his choice to retire in 2025.
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Google Cloud partners with Air France-KLM on AI innovation
Google Cloud said on Wednesday it had partnered with Air FranceKLM to deploy generative artificial intelligence (AI) technology on the airline company group's data. WHY IT is very important Google Cloud said in a declaration that the Franco-Dutch airline group's 551 operating airplane, 93 million guests carried in 2023, and its industrial and freight flights created large amounts of information, which would be used by Google Cloud's AI service in locations such as examining traveler preferences and travel patterns, and forecasting maintenance of airplane. Air France-KLM will maintain full ownership and control of its data, Google Cloud said. SECRET ESTIMATES The group will acquire a much deeper understanding of passenger preferences, travel patterns, and habits to offer freshly customized travel options and services, and be able to improve flight, airport, and business operations, with the time required for information analysis in predictive aircraft maintenance already dropping from hours to minutes, Google Cloud stated. Airline companies create enormous quantities of data, much of which can be exceptionally valuable in assisting drive functional insights, construct better customer experiences stated Matt Renner, President, Global Income at Google Cloud.
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French and Benelux stocks-Factors to enjoy
Below are companyrelated news and stories from France and Benelux which might have an influence on the region's markets or specific stocks. FRANCE/POLITICS: French lawmakers will vote on Wednesday on no-confidence motions which are all however particular to oust the vulnerable union of Prime Minister Michel Barnier, deepening the political crisis in the euro zone's second-largest economy. AIR FRANCE-KLM Signed memorandum of understanding with Saudia BENETEAU & & TRIGANO Confirmed sale of its real estate organization to Trigano CAPGEMINI Completed the acquisition of Syniti EDF: EDF will extend the life of 4 of its British nuclear plants and invest 1.3 billion pounds ($ 1.64 billion) in its British fleet over 2025-2027, it said on Wednesday, in an increase for the country's energy security and efforts to satisfy its environment targets. KERING Set 2024 interim dividend of EUR 2.00 per share PERNOD RICARD: An internal investigation ordered by Pernod Ricard concluded that top executives at its India company broke the law by colluding with alcohol retailers in New Delhi, according to a. document seen , even as the French giant's. agents rejected wrongdoing in court and openly. SAINT GOBAIN Canceled 5 million shares TOTALENERGIES Saudi Investment Recycling business evaluate development of. sustainable air travel fuels system. VEOLIA Sign memorandum of comprehending with Saudi Financial investment. Recycling company. Pan-European market data:. European Equities speed guide ... ... ... ... FTSE Eurotop 300 index ... ... ... ... ... ... DJ STOXX index ... ... ... ... ... ... ... ... Top 10 STOXX sectors ... ... ... ...... Leading 10 EUROSTOXX sectors ... ... ...... Top 10 Eurotop 300 sectors ... ... ...... Top 25 European pct gainers ... ... ... ... ... Top 25 European pct losers ... ... ... ... ... Main stock markets:. Dow Jones ... ... ... Wall Street report ... Nikkei 225 ... ... ... Tokyo report ...... FTSE 100 ... ... ... London report ...... Xetra DAX ... ... ... Frankfurt items ... ... CAC-40 ... ...... Paris products ...... World Indices ... ... ... ... ... ...... Reuters survey of world bourse outlook ... ... European Possession Allowance ... ... ... ... ... Reuters News at a glimpse:. Top News ... ... ... Equities ... ... ... Main oil report ...... Main currency report ...
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Germany's weak winds trigger record rise in gas-fired power: Maguire
Gasfired electrical energy production in Germany leapt by a record 79% in November from the month before as utilities rushed to offset a second straight month of sharply belownormal output from wind farms. Wind power output has been 25% below year-prior levels in October and November due to slow wind speeds, denying power companies of a crucial electrical energy source simply as winter set in. Wind farms provided 27% of German utility electricity in 2023. To plug the resulting generation space, utilities lifted gas-fired electrical power production from 5.34 terawatt hours (TWh). in October to 9.55 TWh in November, data from energy think tank. Ash programs. That was the largest ever regular monthly increase in German gas-fired. generation, and was accompanied by a dive in coal-fired. production to 20-month highs as energies also had to offset a. drop in solar generation to the most affordable level this year. Wind output is anticipated to return to around 6% above regular. levels in December, according to LSEG, which must help ease. the strain on Germany's power systems before year-end. But with solar generation set to fall further throughout the. dead of winter, power firms might not be able to cut back on. fossil-fuel output up until well into 2025. That suggests Germany's power emissions, which are already at. their highest because early 2023, may climb further in the months. ahead before dropping again next spring. DEALING WITH A DRAWN OUT 'DUNKELFLAUTE' A 'Dunkelflaute' or 'dark wind lull' is a duration of low wind. speeds that significantly cut wind farm generation. And Germany's primary wind farm areas have actually experienced an. extended lull since October, which is when wind generation. mainly held flat at around 10 TWh instead of climbing progressively. on the generally vigorous fall winds. The October wind generation total was the most affordable for that. month because 2016, and was a complete 26% listed below the generation total. throughout the exact same month in 2023. Germany's power manufacturers have actually experienced wind lulls. in the past, and can generally accommodate them for a few weeks by. tweaking output from other sources. But this year's Dunkelflaute extended into November as. well, and kept wind generation to less than 12 TWh compared to. nearly 16 TWh in November 2023. That back-to-back wind deficiency implied that power companies had. to count on fossil fuels to not only offset. less-than-expected wind output, however to likewise raise total. generation to satisfy greater system need throughout winter. NO REPRIEVE? Wind forecasting designs require German wind generation to. be around 6% above the long-lasting average in December, according. to LSEG. If that healing materialises, German utilities will be able. to deploy that additional power to balance system requires, and could. potentially dial back generation from nonrenewable fuel source plants. Nevertheless, weather report call for temperature levels in Germany. to average well below regular for the next two weeks, according. to LSEG. That indicates power firms may be forced to raise generation from. all sources in order to meet greater heating need. That in turn will likely trigger a more climb in German. power sector emissions, which hit almost 19 million metric loads. of carbon dioxide (CO2) and a 21-month high in November,. according to Ash. The opinions revealed here are those of the author, a market. analyst .
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Financial Times - Dec 4
The following are the leading stories in the Financial Times. Reuters has actually not validated these stories, and does not vouch for their accuracy. Headings - South Western Railway set to be very first train operator nationalised by Labour - Mastercard reaches contract in UK to settle claims of overcharging on fees - British Steel nationalisation one alternative in search for rescue, admits government - UK auditors refuse to sign off Tees Valley regeneration project's accounts Overview - South Western Railway will be the first train operator in Britain to be renationalised under strategies by the Labour government to fix the nation's troubled train system, the department for transportation stated on Wednesday. - Mastercard has reached an agreement in principle to settle a collective London claim caused behalf of British customers over card charges. - The British federal government has actually admitted nationalising British Steel is one choice available to it, if its efforts to save the Chinese-owned company fail in the coming months. - Auditors have actually refused to sign off 2 years of accounts at Lord Ben Houchen's Teesside regrowth body, while likewise pointing to considerable weaknesses in its worth for money arrangements.
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SWR to be very first train UK operator to be renationalised under Labour plan
South Western Train will be the very first train operator in Britain to be renationalised under plans by the Labour federal government to fix the nation's troubled train system, the department for transport stated on Wednesday. Operating from London Waterloo train station, SWR, one of the biggest commuter services in the nation, will come under public ownership next year, the transport department said. SWR is presently operated by noted UK transportation group FirstGroup and Hong Kong's MTR. Britain's train services were privatised in the 1990s, but several operators have actually been renationalised in the last few years by previous administrations, some of them losing their franchises after underperforming. The federal government wants to set up a publicly owned Great British Trains which will acquire guest rail agreements held by personal firms as they end, a procedure it anticipates to be completed within its first term in office. Damaged by the COVID-19 pandemic and interrupted by industrial discontent, crucial services have seen quality degrade and widespread criticism. The federal government stated the nationalisation would clamp down on inappropriate levels of hold-ups, cancellations, and waste seen under decades of failing franchise agreements. Services across a wide location of southern England and East Anglia are anticipated to come back into public control by autumn 2025, the transportation department said, including the services would be handled by a public body, Operator Limited, which runs nationalised trains on behalf of the government. Operator Limited's functions will become incorporated into Terrific British Trains.
Sellers' early United States back-to-school sales speed up peak ocean shipping season
Retailers Walmart , Target and Shein started backtoschool sales early to stop Amazon.com's Prime Day occasion from siphoning U.S. sales of backpacks and laptops, assisting advance the peak ocean shipping season by two months and boost alreadyhigh freight rates.
It appears like this year, July is in fact the peak of peak ( season), rather of the beginning, stated Stephanie Loomis, Rhenus Logistics' head of ocean freight for the Americas. Sellers account for roughly half of U.S. container import volumes. The ocean shipping industry handles about 80% of global trade. Item are moving earlier than normal since late last year, when Houthi rebel attacks near the Suez Canal trade shortcut required freight vessels to take the longer route around Africa. Denmark's. A.P. Moller-Maersk, a leading container shipping. company, said on Wednesday that Red Sea disruptions have. cascaded beyond the hard-hit Far East and Europe trade paths to. its entire international network. Nike executives have actually stated they imported to the U.S. shipments of athletic shoes and garments throughout the March-May. quarter that they initially planned for the June-August. quarter. Members of the Footwear Distributors and Sellers of. America, who account for 95% of U.S. shoes sales, are amongst. the importers who have accelerated shipments, said Matt Priest,. the market group's CEO. Some importers have actually also sped up timelines to beat greater expenses. from new tariffs on computer chips and electric-vehicle. batteries, or to avoid turmoils throughout labor talks covering. dockworkers on the U.S. East Coast and Gulf of Mexico, industry. experts stated. The early demand surge assisted propel the off-contract cost of. sending a standard 40-foot (12-metre) container of toys,. T-shirts or automobile steering wheels from Shanghai to New York to. almost $10,000, double the expense in February, according to the. Drewry World Container Index.
That has stired concerns that an extended period of elevated. rates might translate into more rate boosts for. inflation-squeezed U.S. buyers.
HALLOWEEN IN JULY
Year-over-year U.S. container imports grew 11.9% in May and. 10.4% in June, according to supply-chain software company. Descartes Systems Group. Those boosts came as significant merchants scheduled back-to-school. sales earlier to counter Amazon's Prime Day event on. Tuesday and Wednesday today, which the e-commerce giant said. was its most significant ever. Amazon pushes its sellers to position. stock for sales occasions at least a month ahead of time.
Now we're seeing fall style, Halloween and year-end. vacation items moving through the supply chain, stated Gene. Seroka, executive director of the nation's busiest seaport in. Los Angeles. Some of those items are already in stores. Home Depot. this week starts selling its outside Halloween design lineup,. consisting of Skelly a 12-foot (3.7-meter) robotic skeleton. Seroka anticipates robust imports in July, noting that there are 63. ships en route to the Los Angeles and Long Beach port complex,. versus 52 to 55 normally. Logistics executives are trying to prevent a repeat of the. supply-chain turmoils that followed former President Trump's. China tariffs, the pandemic's start and the Red Sea attacks,. Priest stated. These last couple of years have actually really produced, for absence of a better. term, PTSD, Priest stated, referring to post-traumatic stress. condition. The early start to peak ocean shipping could likewise imply an early. end to soaring rates that have some carriers fearing a return of. record container freight rates.
It's possible that we'll see peak need in July and. August, and some easing of need starting in September, said. Judah Levine, head of research study at Freightos, an. international freight booking and payments platform.
(source: Reuters)