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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.
Aerospace giants go back to Farnborough hobbled by factory problems
A humbled aerospace market holds its yearly celebration next week struggling to meet demand because of a crisis inside its plants.
For years a venue for planemakers led by Airplane and Boeing to boast about billions of dollars of orders, the July 22-26 Farnborough Airshow is likely to be overshadowed by growing airline company aggravation over plane lacks and delays.
Carriers like Japan Airlines are said to be close to firming up recent tentative orders, and Qatar Airways, Korean Air and Turkish Airline companies have all said they are buying jets.
However, regardless of some offers, issues about supply chains and factory efficiency are set to eclipse the typical triumphalism.
The whole market has suffered supply chain problems, Saleh Eid, vice-president of fleet management at Saudia Airlines, informed inside a factory in Germany that is due to help develop 105 newly purchased Airplane jets for the Gulf carrier.
Boeing in particular is anticipated to embrace a muted tone as it battles with a corporate crisis following the mid-air blowout in January of a door plug blamed on missing out on bolts.
Outgoing CEO Dave Calhoun will not attend for a 2nd year and industry bible Air travel Week bemoaned what it called a. management vacuum, though divisional leaders will all be. present. Nor is the company displaying its own aircrafts this time.
A Boeing spokesperson referred to an earlier statement that. it had actually customized its presence to concentrate on safety and quality.
Airplane will thin its presence to cut expenses, delegates stated.
After widespread quality snags such as improperly tightened. bolts, some state the hunger is for more torque and less talk.
It's not the very best time to present great deals of orders; it is. about enhancing things in the factory, one delegate stated.
Air travel was hit hard by the pandemic which saw air travel. collapse only to get better sharply. That has actually left many firms. scrambling to deal with labour and parts lacks. By the time. they recuperate, the juiciest part of business cycle might be. running out, said Firm Partners analyst Nick Cunningham.
In the previous the problem has always been one of demand, about. the length of time is the cycle going to last. Now the concern is about. getting packages out of the door.
Critics state the industry has itself to blame after squeezing. suppliers.
They are understanding that securing a big chunk of the supply. chain and providing it the resources it requires is a precursor to. doing the ramp-up, Aerodynamic Advisory Handling Director. Richard Aboulafia said.
Planemakers do have something to commemorate, with Boeing's. delayed 777X starting accreditation test flights and Jet. winning approval for its A321XLR.
However competitors like China's Comac, Brazil's Embraer and the. futuristic curved Jet No are alert for chances.
FIGHTER PREPARES
The biennial event in southern England, which rotates. with the Paris Airshow, is also expected to provide contrasting. photos of worldwide affairs.
Air travel is growing as societies and individuals connect and do. company, with a record five billion journeys anticipate this year.
However rising geopolitical stress are stoking demand for. weapons and fuelling trade tensions that can harm air travel.
There is still some ecstasy post-COVID, however it is somewhat. detached from the geopolitical situation, stated market. advisor Bertrand Grabowski.
The vulnerability of airline companies to problems was underscored on. Friday when a worldwide cyber interruption triggered airport chaos and. numerous flight cancellations, on top of scarce jet capacity.
The defence side of the program will focus on Ukraine, possible. hold-ups to America's future F-22 fighter replacement, code-named. NGAD, and a defence review by Britain's brand-new Labour federal government.
The new (UK) ministerial group will be lobbied by all the. defence business to make sure their equipment is leading of the. concepts pile, stated Alex Walmsley, associate fellow of UK. think-tank RUSI.
That may not cut much ice with the head of the Royal Air. Force.
It ought to be a focus on speed, efficiency and imagination. that we prioritise, not those who lobby loudest, Air Chief. Marshal Richard Knighton told a conference on Thursday.
The value of cheap and effective drones has been proven in. Ukraine, and they will stay part of future planning, he stated.
But the re-emergence of big-power competitions has focused. attention on the most sophisticated systems including NGAD's. principle for fighters partnered with swarms of drones.
That will likewise be on the minds of top brass at the world's. largest military air show: the July 19-21 Royal International. Air Tattoo, where fighter aces come once a year to display air. power and shatter the rural calm of England's Cotswolds.
Amongst the VIPs will be U.S. Air Force Secretary Frank. Kendall. In an interview with Air travel Week in June, he appeared. to cast doubt on the future of NGAD over costs.
Weeks later, he informed Defense News that NGAD's. family-of-systems concept was alive and well though could be. less expensive.
Britain remains in one of 2 groups checking out comparable. crewed-uncrewed systems, designed to toss lethal mass at. adversaries.
BAE Systems is co-operating with partners in Italy. and Japan to develop a system called GCAP, while France, Germany. and Spain are pushing a similar Future Battle Air System, also. known by the French initials SCAF.
I think (the UK review) is favorable for GCAP since the. new federal government has actually explained that global co-operation on. security is among its essential concerns, Walmsley stated.
Others speculated any NGAD delays would offer Europeans an. reason to re-examine their options and test political assistance.
Europe is following the tail lights of NGAD and the brakes. are beginning, stated a European defence industry source.
(source: Reuters)