2025-07-05 18:31
TOKYO/BRIDGEWATER, New Jersey, July 5 (Reuters) - Japan's tariff negotiator Ryosei Akazawa held "in-depth exchanges" over the phone with U.S. Commerce Secretary Howard Lutnick on Thursday and Saturday, the Japanese government said. A pause on a 24% reciprocal tariff on imports from Japan expires on July 9, although U.S. President Donald Trump has suggested the rate could be even higher. Sign up here. The Japanese government also said in a statement that it intends to continue actively coordinating with the U.S. side on the matter, as it worked to avert higher tariffs. The White House declined to comment on the report, referring only to Trump's recent comments on Japan. Trump this week hammered Japan over what he said was Tokyo's reluctance to import U.S.-grown rice, and accusing Japan of engaging in "unfair" autos trade. Japan has in fact imported historically high volumes of U.S. rice in recent months as domestically grown rice has skyrocketed in price since last year. It was unclear if Trump would make good his pledge to skip further trade negotiations with Japan and send it a letter with a specific tariff rate, on top of the 10% already in effect on most trading partners. On Friday he said he had signed letters to 12 countries and they would be going out on Monday, but did not identify them. He expressed doubt that a deal could be reached with Japan on Tuesday, and suggested he could impose a tariff of 30% or 35% on imports from Japan - well above the 24% tariff rate he announced on April 2. Japanese Prime Minster Shigeru Ishiba on Wednesday said he was determined to protect his country's national interests as trade negotiations with the U.S. struggled, noting that his country was the largest investor in the United States. Tokyo has yet to secure a trade deal after nearly three months of negotiations as it scrambles to find ways to get Washington to exempt Japan's automakers from 25% automobile industry-specific tariffs, which are hurting the country's manufacturing sector. https://www.reuters.com/business/japan-tariff-negotiator-held-in-depth-talks-with-lutnick-japan-government-says-2025-07-05/
2025-07-05 18:15
July 5 (Reuters) - Founded by a University of Texas football coach, Camp Mystic where raging floodwaters swept away dozens of girls - killing several and leaving many others missing - was established along the banks of the Guadalupe River in central Texas hill country nearly a century ago "to provide young girls with a wholesome Christian atmosphere." Here are some facts and background about the camp: Sign up here. The camp, located about 85 miles northwest of San Antonio, has operated nearly continuously since its founding in 1926 by E.J. "Doc" Stewart, who coached the Texas Longhorns football squad from 1923-1926 and, according to a UT historian, is the coach under whom the team first appeared in its iconic burnt orange and white uniforms. Since then, it has operated each summer except for three years during World War Two, when it was leased by the U.S. government as a recovery facility for Army Air Corps veterans, according to the camp's website. The current owners, Dick and Tweety Eastland, are the third generation of the family that bought the camp in 1939, the camp website says. The camp, described on its website as "nestled among cypress, live oak and pecan trees ... on the banks of the beautiful Guadalupe River," operates three sessions each summer, offering classic summer camp activities including archery, canoeing, arts and crafts, horseback riding and a variety of sports. It says it aims to challenge campers to meet its three ideals: "Be a better person for being at Mystic"; "Let Mystic bring out the best in them"; and "Grow spiritually." When the flash flood struck early on Friday, it was less than a week into its second four-week term with more than 700 children in residence, according to details provided Friday by Texas Lieutenant Governor Dan Patrick. https://www.reuters.com/business/environment/some-facts-about-camp-mystic-where-texas-floodwaters-swept-away-dozens-girls-2025-07-05/
2025-07-05 13:18
PARAMARIBO, July 5 (Reuters) - Petronas will begin drilling on Sunday, the first of three wells in an exploration campaign aimed at finding additional oil reserves at its offshore Block 52 in Suriname, state company Staatsolie said in a release on Saturday. Petronas hired Noble Corp (NE.N) , opens new tab to drill the wells through the Noble Developer drilling platform, which arrived in Surinamese waters at the beginning of July. Suriname's National Environmental Authority granted a permit for the drilling program in mid-June, Staatsolie said. Sign up here. https://www.reuters.com/business/energy/petronas-drill-three-exploration-wells-suriname-offshore-block-staatsolie-says-2025-07-05/
2025-07-05 12:03
China's first Legoland resort opens in Shanghai Tickets sell out quickly despite heatwave alert Legoland Shanghai will boost local economy, Lego CEO says SHANGHAI, July 5 (Reuters) - Tourists and residents in Shanghai on Saturday braved sweltering heat for the official opening of China's first Legoland resort, featuring thousands of structures built with over 85 million Lego bricks. Entry tickets to the new resort, aimed mainly at families with children between the ages of two and twelve, quickly sold out as thousands queued to try out more than 75 rides, performances, and attractions spanning more than 300,000 square meters. Sign up here. That was despite a heatwave strong enough to trigger an orange alert from Shanghai's meteorological observatory - the second-highest in China's weather alert system. "The enthusiasm of the staff here makes us feel like the heat is okay, and we really liked today’s opening ceremony gift," said 40-year-old Shanghai resident Cathy Yin of the wearable Lego mitt given out to those attending the event. "We came especially for it." Lego enthusiasts from all over China travelled to Shanghai for the opening, leading to a surge in hotel bookings, local media said. Lego Group CEO Niels B. Christiansen said the resort would be "an integral part" of Lego's presence in China, and would "contribute to the economic vitality of Shanghai". The strong turnout highlights resilience in experience-focused spending among Chinese consumers, even as the overall economy struggles with weak consumer demand. Multiple visitors interviewed by Reuters had purchased an annual pass, and had attended the soft opening on June 20. EARLY SUMMER HEATWAVE Even the extreme heat, 30-year-old visitor Tao Xiaoqing said, "didn’t stop me from coming" to the opening day. Shanghai's meteorological observatory warned maximum temperatures in the city's central and western areas were expected to exceed 37 degrees Celsius on Saturday, while other forecasters warned parts of China's eastern and central provinces are bracing for temperatures above 40 C. "It’s really hot, but it’s still a lot of fun here," said 9-year-old Rocky Xu. While most visitors were upbeat, one complained to Reuters that the long queues outside to enter the venue were poorly organized. Staff handed out bottles of water to visitors, and one person received medical attention due to heatstroke. "Even though the sun is strong, there are plenty of air-conditioned areas and water stations inside the park, so it’s still quite comfortable for a visit," said 28-year-old Shanghai resident Charlie Chen. Legoland Shanghai is operated by a joint venture between Merlin Entertainments, which runs Legoland parks around the world, and the Shanghai Jinshan District local government. (This story has been corrected to remove an erroneous reference to resort being world's largest of its kind from paragraph 1) https://www.reuters.com/lifestyle/chinas-first-legoland-resort-packed-opening-day-despite-heatwave-2025-07-05/
2025-07-05 12:01
July 5 (Reuters) - Low global oil stockpiles were a major motivating factor in prompting OPEC+ members to raise production by 548,000 barrels per day in August at the group's meeting on Saturday, the Russian government said in a statement. The group, which pumps about half of the world's oil, has been curtailing production since 2022 to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pumped more to help keep gasoline prices lower. Sign up here. "Taking into account the robust global economic outlook and current market conditions reflected in low oil inventories, they (eight OPEC+ members) agreed to make a production adjustment of 548,000 barrels per day in August 2025," the Russian government said. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, wants to expand market share amid growing supplies from rival producers like the United States, sources have said. The group will next meet on August 3. https://www.reuters.com/business/energy/russia-says-low-global-oil-stockpiles-prompted-opec-hike-output-2025-07-05/
2025-07-05 11:12
ATHENS, July 5 (Reuters) - Firefighters were battling a wildfire on the Greek island of Evia on Saturday which was burning forests and forced the evacuation of two villages, the fire brigade and authorities said. More than 160 firefighters along with 46 trucks and five aircraft were deployed in southern Evia, east of Athens, to put out the blaze, which broke out late on Friday, a fire brigade official told Reuters on condition of anonymity. Sign up here. Evia was on a list of several Greek regions that were on high alert for wildfires due to gale force winds due on Saturday. The authorities ordered the evacuation of the villages of Tsakeoi and the seaside seasonal settlement of Limnionas in the early hours. Southern Evia is a sparsely populated area of rugged mountains, agricultural land and popular seaside spots. The fire there is the latest in a series of bushfires stoked by strong winds and dry conditions this week as much of Europe sweltered in an early summer heatwave, which officials have linked to at least eight deaths on the continent. Another wildfire on the southern island of Crete, which has razed forest and olive groves since Wednesday and forced thousands of residents and tourists to temporarily evacuate, was largely contained, the fire brigade official said. Tourism is a key earner in Greece and the fires have hit at the start of the peak summer holiday season. Temperatures in Greece were forecast to reach up to 38 degrees Celsius (100 degrees Fahrenheit) on Saturday, the Greek weather service said. Greece and other Mediterranean countries are in an area dubbed "a wildfire hotspot" by scientists - with blazes common during hot and dry summers. These have become more destructive in recent years due to a fast-changing climate, prompting calls for a new approach. https://www.reuters.com/sustainability/climate-energy/greece-battles-wildfire-evia-reports-progress-crete-2025-07-05/
