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Baseball-Japanese fans rejoice in Ohtani's MVP win
Japanese baseball fans hurried to grab the most recent paper editions on Friday after Los Angeles Dodgers star Shohei Ohtani was called the National League's Most Prized possession Gamer. Ohtani made all 30 first-place votes from the Baseball Writers' Association of America, picking up a third unanimous MVP award following wins in 2021 and 2023. New york city Yankees slugger Aaron Judge was named the winner of the American League's MVP award, likewise in an unanimous vote. Outside a chilly train station in downtown Tokyo, paper publishers distributed extra print editions to passersby, who marked time to get copies featuring fancy headlines and Ohtani's game pictures. He is our pride, said 60-year-old retiree Sachie Tsujimura outside the train station. I hope he'll keep improving next year. Yoshio Inoue, a 20-year-old college student, had waited on more than an hour before staff started handing out the papers at the station, eager to gather as lots of additional editions as possible. Frankly speaking, I believe he is amazing, Inoue stated, bring a paper plastered with red and yellow characters saying, Ohtani MVP. Japanese television stations, including public broadcaster NHK, interrupted routine programming to report on Ohtani's win. His performances have ended up being a regular function of morning television news programmes in Japan, brightening up the start of the day for baseball fans and beyond. I believe more (Japanese) gamers will learn from Ohtani, stated 32-year-old engineer Kohei Nakamura, standing outside another train station. He is capable of lots of things, so I believe the players with a range of abilities (like him) will carry out well. Yoshimasa Hayashi, the Japanese federal government's leading spokesperson, praised Ohtani on his achievement and stated he was anticipating seeing more success for the gamer. Fans will also be able to purchase a set of celebratory stamps marking Ohtani's MVP award, with Japan Post putting them on sale at post workplaces across the country and at its online shop. The 5 stamps will also feature a file folder and a towel printed with statistics of all Ohtani's at-bats and home runs from this year's routine season. The collection will cost 7,260 yen ($46.89) per set. Extensively considered one of the best two-way players in baseball history, the 30-year-old joined the Dodgers on a record 10-year, $700 million offer at the end of last year but elbow surgery prevented him from pitching this season. He offseted it with his batting, finishing the season with a career-high 54 home runs and 59 taken bases to become the first member of Major League Baseball's 50/50 club.
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Wall Street Journal - Nov. 22
The following are the top stories in the Wall Street Journal. Reuters has actually not confirmed these stories and does not vouch for their precision. - U.S. satellite television service provider DirecTV said on Thursday it had ended its contract to acquire Echostar's. satellite tv service, which includes rival Dish TV,. over a stopped working debt-exchange offer. - U.S. President-elect Donald Trump is considering picking Kevin. Warsh as his Treasury secretary with the understanding that he. could later on be chosen to lead the Federal Reserve when Jerome. Powell's term as chair ends in 2026. - U.S. President-elect Donald Trump stated on Thursday he would. choose former Florida Attorney general of the United States and loyalist Pam Bondi. to be U.S. Attorney General, moving swiftly to change his. previous nominee Matt Gaetz after the embattled former congressman. withdrew from consideration. - Stephen P. Lynch, an American financier with a history of. dealmaking in Russia, has actually asked the U.S. federal government to permit him. to bid on the sabotaged Nord Stream Pipeline 2 if it shows up. for auction in a Swiss personal bankruptcy case. - U.S. Securities and Exchange Commission Chair Gary. Gensler will step down on Jan. 20 when President-elect Donald. Trump's administration takes control of.
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Gauging the likely Trump impact on United States energy & power sectors: Maguire
Presidentelect Donald Trump's support for the fossil fuel sector and environment scepticism have actually stimulated dismay throughout the global environment tracking neighborhood, and fears that his policies might reverse global energy transition momentum. His project speeches included promises to increase domestic oil and natural gas output and to remove mandates on electrical car production, however he has yet to publish many specific new energy policies. This lack of clarity has stimulated despair amongst the climate neighborhood as it braces for the worst. But an appearance back at the patterns throughout the U.S. energy landscape throughout Trump's very first term suggests there could be some bright areas. Below are some key data and observations that can help shed light on how President Trump's very first term impacted the U.S. energy area, and what we might anticipate this time around. FOSSIL FUELLED The first Trump administration made a big deal out of supporting homegrown energy, specifically output of crude oil and gas which both scaled record highs during Trump's first term. However, U.S. oil and gas production had also scaled record highs during President Barack Obama's terms, and have climbed even greater under Joe Biden. The reality that oil and gas output trended higher before and after Trump suggests that technological and operational prowess plays a larger role than the White Home resident in driving U.S. energy production. That stated, the very first Trump administration did make a significant effect on the global trade of U.S. oil and gas, by simplifying export permitting and promoting U.S. item exports. U.S. LNG exports in specific skyrocketed once Trump took office, leaping from under 200 billion cubic feet in 2016 - President Obama's last year in workplace - to over 700 billion cubic feet throughout Trump's very first year, according to the U.S. Energy Information Administration. Then exports of so-called U.S. Freedom Gas truly removed, hitting 1 trillion cubic feet in 2018, 1.8 trillion cubic feet in 2019, and 2.4 trillion cubic feet in 2020. U.S. crude oil exports also shot greater under the very first Trump spell, leaping from simply under 600,000 barrels a day in 2016 to 1.1 million barrels in 2017, 2 million in 2018, 3 million in 2019 and 3.2 million in 2020. Offered the change to the more eco-friendly Biden administration from 2021, environment trackers had expected reduced production and exports of U.S. oil and gas. However the opposite has been the case, with output and exports striking new highs in each year considering that Biden took office. With Trump back in power from next year, a continuation of those output and export trends looks likely. However the level of both will likely be as much driven by the economics of extraction and shipment as it will be by any Trump policy tweaks. COAL COMFORT The coal market highlights the importance of market dynamics on fossil fuels. Under Trump's watch, U.S. coal production managed just modest development throughout his very first year and after that sank to all-time lows throughout his last year. Coal output has really rebounded somewhat during the Biden administration, but stays at approximately half the levels seen from 1990 through 2010 due to reduced coal usage in the house and abroad. This underscores the fact that U.S. nonrenewable fuel source production and exports are driven more by worldwide need and market economics than by domestic policy. TIDY POWER MOMENTUM IS DIFFICULT TO STOP The generation mix within the domestic power sector can be more easily affected by policy, as subsidies, tax breaks and other rewards can drive investment at the utility level over the course of an administration. Nevertheless, the years-long power job advancement times indicates that any fuel mix modifications can span presidential administrations, and are typically driven more by energy needs than governmental decrees. That said, the Biden administration's Inflation Decrease Act - which included steps to speed up green energy adoption and production across the U.S. - has left an enduring imprint on the U.S. power industry. Environment advocates are worried that Trump's pro-fossil fuel stance and ridicule for regulations mandating tidy energy use may reverse some of that momentum. But power and electricity generation data throughout Trump's. first term suggests that clean power progress is difficult to stop,. even by huge advocates of oil and gas. During Trump's very first term, U.S. electrical power production from. tidy sources increased by 7%, fossil-fired generation dropped. by 4%, and total emissions from power generation declined by. 12%, according to energy think tank Ember. Approved, tidy power growth was higher under both Obama and. Biden, broadening by 21% under Obama's period and 13% under. Biden. Yet power emissions have actually decreased by just 6% under Biden,. which shows that some trends are beyond the reach of. bureaucrats. And there are some trends that no administration will desire. to stop, such as the lowering of generation expenses from brand-new. production capability, be it sustainable or fossil-based. Trump has actually promised to reduce the cost of living and spur. company growth throughout his next term, and his administration. will know that low-cost and abundant power will be required to make. that occur. That means that every terawatt produced from renewables and. other clean power sources will be needed, which more will be. built even if output from nonrenewable fuel sources likewise keeps climbing. The opinions expressed here are those of the author, a market. analyst .
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S&P reduces outlook for three Adani units following US indictment
S&P Global Ratings downgraded its outlook for three Adani Group companies to 'negative,' from'stable,' on Friday. The company cited risks in funding access after the U.S. charged Gautam Adani with bribery. Adani, along with seven others, including his nephew Sagar were indicted by U.S. authorities on Thursday. They are accused of participating in a $265-million scheme to bribe Indian government officials in order to obtain power supply deals. Adani Group said that the allegations made by U.S. federal prosecutors and the Securities and Exchange Commission of the United States in a civil case are "baseless and denounced" and it will pursue "all legal remedies." S&P stated in a report that the U.S. indictment may affect investor confidence as the founder is on the board of other Adani Group companies, which could impact their access to financing and increase funding costs. The group's large growth plans will require regular access to equity and debt markets, as well as its regular refinancing. S&P stated that domestic banks, as well some international bond market investors and banks, view Adani as a whole and may set group exposure limits. S&P changed the outlook of a unit within Adani Green Energy, the entity that is linked to these allegations, from'stable to 'negative. S&P also said that Adani Electricity, Adani Ports, and Adani Ports had been downgraded to "negative". Ratings for the three entities may be further lowered if the allegations are confirmed. S&P said that the cash flows of group entities will be affected by a lack of funding. After the indictment, bonds and stocks of the Adani Group fell for a second day. (Reporting by Manvi Pant in Bengaluru; Editing by Abinaya Vijayaraghavan)
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Testing agency: Cashew nutshell biofuel can cause problems on some ships
Fuel testing agency CTI Marinetec issued an advisory on Friday stating that several ships in Singapore and Rotterdam have reported problems with their operations in the last few months after using marine diesel blended with liquid cashew nutshell biofuel. CTI-Maritec, a Singaporean company, said that it had tested samples taken from the ships in question and discovered that the marine fuel contained cashew liquid from unreported sources or production processes. The agency reported that the ships had experienced operational problems such as fuel sludging and injector failure. They also encountered filter clogging, system deposit, and corrosion on turbocharger nozzle rings. CTI-Maritec has not named the ships or shipping lines that were involved. It is not clear at this time how many vessels were affected. The Maritime and Port Authority of Singapore and Port of Rotterdam didn't immediately respond to a comment request. CTI-Maritec warned shipowners against using 100% cashew liquid in marine fuels or as a blend component or non-established bio-products for marine diesel engines. The International Maritime Organisation (IMO) has issued guidelines on fuel oil supply to ships. Cashew liquid is an alternative biofuel that is not FAME (fatty acids methyl esters). It is a byproduct from the cashew industry. It has been marketed as a renewable alternative fuel but it is also corrosive and has high acidity. In order to reduce emissions, ship owners are exploring marine biofuel blends to replace dirtier bunker fuels. The ISO 8217 specification for marine fuels, the latest version, specifies that biofuels such as FAME-based biofuels or hydrotreated vegetable oils are acceptable. CTI-Maritec stated that there is no marine fuel standard available for cashew liquid.
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S&P reduces outlook on three Adani systems after US indictment of creator
S&P Global Rankings decreased its outlook on 3 Adani Group entities to negative from steady on Friday, pointing out dangers to moneying gain access to following a U.S. indictment of the corporation's billionaire creator, Gautam Adani, on bribery charges. Adani and 7 other people, including his nephew Sagar, were prosecuted on Thursday for fraud by U.S. district attorneys for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply offers. Adani Group has said the accusations levelled by U.S. federal district attorneys, as well as those by the U.S. Securities and Exchange Commission in a parallel civil case, are baseless and denied which it will look for all possible legal option. The U.S. indictment might impact investor self-confidence in other Adani Group entities, as the founder rests on the boards of other companies within the group, potentially hindering their access to financing and increasing their financing expenses, S&P said in a note. The group will require regular access to both equity and debt markets given its big growth plans, in addition to its regular refinancing. We believe domestic, along with some worldwide banks and bond market financiers, look at Adani entities as a. group, and might set group limitations on their direct exposure, S&P stated. Bonds and the majority of stocks of the Adani Group dropped for a. 2nd session on Friday after the indictment.
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Adani Group stocks, bonds succumb to a 2nd day after creator's United States indictment
Stocks and bonds of India's Adani Group dropped for a second session on Friday after a U.S. arrest warrant was released for its billionaire founder Gautam Adani over an alleged $265 million bribery scheme. Adani Green Energy, the business at the centre of the case, led losses, tumbling 8.6% while Adani Energy fell 5.6% U.S. district attorneys have actually charged Adani and seven other individuals with consenting to pay allurements to Indian federal government officials to obtain agreements that might yield $2 billion of revenue over 20 years along with to establish India's largest solar energy plant project. Adani Group said the allegations levelled by U.S. federal district attorneys as well as by the U.S. Securities and Exchange Commission in a parallel civil case are baseless and rejected and that it will seek all possible legal recourse. Adani Ports and Unique Economic zone debt developing in 2027 traded at 91.5 c on the dollar, down more than a cent on the day and more than 4c below Wednesday costs. Longer-dated maturities have fallen around 5c in 2 days and trade near 80c. The corporation's stocks lost about $27 billion in integrated market price on Thursday. 2 significant Adani offers have actually also been struck. Kenya has actually cancelled a procurement process worth almost $2. billion that had been extensively expected to award control of the. country's main airport to the Adani Group. It likewise nixed a separate 30-year, $736-million. public-private partnership deal that an Adani Group company signed. with the energy ministry last month to build power. transmission lines. India's renewable resource sector, a critical pillar for. worldwide environment goals, may face reduced international investment. as an outcome of this debate, said Nimish Maheshwari, an. independent analyst who releases on Smartkarma. Investors might demand greater transparency and due. diligence, decreasing the pace of project financing. Adani Green likewise cancelled an arranged $600 million U.S. bond sale. U.S. district attorneys say Adani, his nephew Sagar Adani and. others bribed Indian authorities to gain service benefits in. renewable resource jobs in India that benefitted Adani Green. and a company called Azure Power, which was noted on the New. York Stock market until late 2023. They are likewise accused of making misleading statements to the. public including U.S. investors in spite of being warned of the. U.S. examination in 2023. CreditSights said that there were negative credit. ramifications for all bonds provided by the Adani Group with those. for Adani Green having the most drawback potential. The Adani Group is a major business presence in its home. market. That stated, Citigroup experts estimated Indian banks'. direct exposure to the group was less than 1% of total loans for many. lending institutions.
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British Organization - Nov 22
The following are the top stories on the business pages of British newspapers. Reuters has not validated these stories and does not attest their accuracy. The Times - UK's Royal Mail has actually cautioned that its loss-making organization will be struck by a further 120 million pounds ($ 150.96 million) of expenses from the budget increase in company nationwide insurance contributions. - The Telegraph's New york city suitor Dovid Efune has lost a. 3rd financial backer with just one week to precede the. prepared cut-off date for unique offer talks for a takeover. The Guardian - Britain's Serious Fraud Workplace (SFO) stated it was. investigating thought bribery and corruption at Thales. , Europe's largest defence innovation company. - Three British mining executives from Resolute Mining. who had actually been apprehended by the government of Mali have. been launched and are safe and well, days after consenting to. pay $160m to settle a tax disagreement. The Telegraph - Britain's Guardian Media Group bosses have been implicated of. inappropriate attempts to root out strikers after asking. reporters to declare whether they will participate in industrial. action next month in an attempt to avoid a temporary halt in its. print operations. - The UK's military equipment is just unsatisfactory, the. UK's Defence Secretary John Healey confessed, a day after after. announcing that the armed force will be hit by 500 million pounds. worth of cuts. Sky News - 9 water companies, consisting of crisis-hit Thames Water,. will not use money from customers' expenses to money bonus offers for. executives after new rules entered force, regulator Ofwat. stated. - Britain's previous Labour deputy prime minister John. Prescott has died aged 86, following a fight with Alzheimer's,. his family has actually announced.
US port strike shines light on union's biggest enemy: automation
The dockworkers' strike on the U.S. East Coast, Gulf Coast and the Caribbean ended on Thursday. However, the key issue that was causing labor unrest on the continent -- the increasing use of automation -- remained unresolved.
Automation is seen by companies as a way to increase profits, while it's viewed negatively by unions. Dockworkers in North America who are fighting automation may find a solution through the port worker contracts of Europe.
After reaching a tentative wage agreement, 45,000 port workers of the International Longshoremen's Association ended their three-day strike on Thursday. The strike had caused ocean shipping to be shut down from Maine to Texas.
While talks continued, the port operators and workers agreed to extend the contract until Jan. 15, 2025. Automation is a key issue in negotiations for a six-year contract.
Harold Daggett told a group workers outside the Maher terminal, in Elizabeth, New Jersey during the strike, while they held signs that read "Machines do not feed families" or "Fight Automation, Save Jobs."
The union says the use of an automatic gate system in a port at Mobile, Alabama is a violation of their contract.
APM Terminals of Netherlands is the port's operator. APM Terminals is a member employer group United States Maritime Alliance. According to ILA, the auto gate system is able to process trucks that enter and leave the port without unionized labor.
APM Terminals is owned by A.P. Moller-Maersk has confirmed that the auto-gate was installed at the terminal since it opened in 2008. It is in compliance with the ILA/USMX Master Contract.
USMX has declined to comment.
CANADA FIGHT
The automation has also been a factor in port labor disputes that have affected global trade from Los Angeles to Vancouver.
The British Columbia Maritime Employers Association, which covers seaports throughout the Canadian province, made a final offer to the International Longshore and Warehouse Union Local 514 in Canada in June. 99% of its members rejected it.
The union was angry in part because Dubai Ports World Canada, a logistics company, had notified the labor group that it would introduce automation unilaterally at a major rail yard within the Port of Vancouver.
A spokesperson for the ILWU Coast Longshore Division said that on Tuesday, "Workers are fighting automation because they understand the negative effects of disappearing jobs on our families and community."
Since November 2022, the BCMEA has been negotiating with ILWU Local 514 on a sector-wide basis.
More than 7,300 workers in Vancouver went on strike last year as automation was a major issue with the BCMEA. The ILWU wanted to include in contracts language about training workers on how to repair new equipment introduced at ports.
When negotiations reached the 13-month mark, the Pacific Maritime Association, which represents terminal operators in California, Washington and beyond, claimed that union workers would "effectively" shut down terminals in Los Angeles, Long Beach, and Oakland, California, in 2023.
According to a report sponsored by the ILWU, which represents dockworkers on the West Coast, in 2020 and 2021 the Long Beach terminal would have 392 fewer positions if it had not been automated.
In a report that was commissioned by PMA, it was found that the number of paid hours in Los Angeles ports has increased by 31.5% ever since automation started in 2016. The authors refused to give figures for Long Beach only.
The union and PMA have agreed to a new six-year agreement that will establish a minimum level of staffing for terminals that implement automated equipment, and also discuss technological advances.
EUROPEAN CONTRACTS
Berardina Thomasi, policy officer for the European Transport Workers' Federation of dockworkers, said that port workers' unions in Europe have already negotiated against automation after Europe Container Terminals opened Rotterdam's world's very first automated container terminal.
Niek Stam is the secretary of FNV Havens - the largest Dutch dockworkers union.
The Dutch union is composed of more than 6,000 workers in three ports, including Rotterdam which is regarded as one of the world's most technologically advanced ports. Stam stated that the clause has been in their contracts for years.
The union, however, is concerned about the future of its members' careers as automation will reduce the number less intensive roles in ports.
Stam stated that workers cannot work at the most labor intensive jobs until they are 67 years old.
According to union officials in Europe and the United States, dockworkers can tolerate a certain level of automation.
"We are not against bringing in new technology that will make us more efficient," said Shaheem, a 41-year-old crane operator from New Jersey and ILA strike leader.
When you try to make something, it's going take away our job. That's where we run into trouble.
(source: Reuters)