2024-09-11 21:37
Sept 11 (Reuters) - United Parcel Service (UPS.N) , opens new tab said on Wednesday its pickup and delivery services in the southern part of the U.S., especially Louisiana, may be impacted due to Hurricane Francine. The parcel delivery giant said it is trying to resume services in the affected areas as soon as possible. "Contingency plans are in place to help ensure that shipments arrive at their final destinations as quickly as possible," it said. Hurricane Francine has intensified into a Category 2 hurricane on Wednesday, the U.S. National Hurricane Center said, claiming the hurricane was about 100 miles (160 km) west-southwest of New Orleans, Louisiana. UPS rival FedEx (FDX.N) , opens new tab had previously followed suit saying its services could be disrupted in some markets of Louisiana, adding that its customers in New Orleans and Lafayette could see their services impacted too. Sign up here. https://www.reuters.com/business/ups-says-services-may-be-impacted-southern-us-louisiana-by-hurricane-francine-2024-09-11/
2024-09-11 21:34
SANTIAGO, Sept 11 (Reuters) - Chile's state copper miner Codelco (COBRE.UL) said on Wednesday it reached early contract agreements with unions at its major El Teniente complex, as well as the Ministro Hales division. Union negotiations at Chilean copper mines are being closely watched by analysts and investors since a strike last month at BHP's (BHP.AX) , opens new tab Escondida, the world's largest copper mine, which resulted in an improved bonus for workers. The agreements at El Teniente, one of Codelco's biggest units, encompassed talks with five unions, representing nearly 3,150 workers. The new contract will take effect Nov. 1 and last through 2027. Andres Music, general manager of El Teniente, said the deal will introduce new labor practices that are poised to increase the company's productivity. "Codelco appreciates the climate of dialogue and understanding in which the negotiations were carried out," the company said in a statement, noting that it sought to balance business variables and safety with incentives and benefits for workers. At Ministro Hales, a smaller division that produced 126,000 metric tons of copper last year, the new three-year contract will take effect in December. Codelco did not detail the specific terms for either mine site. Sign up here. https://www.reuters.com/markets/commodities/chile-miner-codelco-seals-early-contract-deal-with-ministro-hales-union-2024-09-11/
2024-09-11 21:13
Sept 11 (Reuters) - Hurricane Francine has intensified into a category 2 hurricane, with the eye nearing the Louisiana coast, the U.S. National Hurricane Center said on Wednesday. "Life-threatening storm surge and hurricane conditions spreading onto the Louisiana coast," the Miami-based forecaster said. The hurricane was about 100 miles (160 km) west southwest of New Orleans, Louisiana, packing maximum sustained winds of 100 mph (155 kph), the NHC added. Sign up here. https://www.reuters.com/world/us/francine-becomes-category-2-hurricane-nhc-says-2024-09-11/
2024-09-11 21:08
Wildfires in Bolivia worsen air quality, causing health issues President Arce calls for international aid to combat fires Deforestation and land clearances blamed for exacerbating fires SANTA CRUZ, Bolivia/LA PAZ, Sept 11 (Reuters) - In the lowland Bolivian region of Santa Cruz, being gripped by some of its worst wildfires on record, nurse Raúl Gutiérrez said that the acrid sting of smoke almost never goes away and day has started to look almost like night. The South American country is on track for potentially a record year of fires, exacerbated by drought and land clearances linked to booming production of cattle and grains, especially around the wealthy farm city of Santa Cruz. While the fires have been raging for weeks, in recent days the smoke over cities like Santa Cruz and Cochabamba has worsened, with images showing city monuments shrouded by the smog. The air pollution reading on Wednesday was among the worst in the world. "The smoke is persistent, it is strong. We hope it dissipates but there are no signs or chances of rain," said Gutiérrez, adding it was worst at dusk, dawn and midnight. He added that increasing numbers of people were having breathing problems, eye issues and headaches due to the smoke, while school classes had been suspended. "The sun practically has an orange hue, it looks just like the moon at night," he said. Breathing in pollution from wildfire smoke can be deadly or lead to long-term breathing problems, with a June study in the journal Science Advances finding that it had lead to at least 52,000 premature deaths in California alone over a decade. Satellite images show alarming levels of particulate matter and carbon monoxide in the air. And data from Brazilian official body INPE shows Bolivia potentially on track for its worst number of active fires on record for the month of September. 'THE AMAZON IS BURNING' Diego Rojas, head of the Department of Water and Atmospheric Pollution at Santa Cruz City Hall, said that people should avoid outdoor activities and use face masks against the smog. "We've had five straight days with dangerous levels for the population," he said. The fires have forced schools to close and some commercial flights to be suspended. President Luis Arce has called for international aid and said the government "will not stop" until the fires have been extinguished. Wilber Melgar, from an Indigenous community in the region of Beni to the north of Santa Cruz that has also been hard hit by the fire, blamed ranchers for clearing large areas of land for grazing, at times with slash and burn methods. "Right now the Amazon is burning," he said. Neighboring Brazil is also suffering a torrid beginning to the fire season, with blazes leaving major cities cloaked in smoke and huge swathes of Amazon rainforest there in flames. The wider region is seeing the worst fires since 2010 , opens new tab. In Bolivia, Santa Cruz has seen deforestation of some 8 million hectares (19.8 million acres) over the last 20 years, said Alcides Vadillo, a researcher at the Tierra Foundation, leading to more fires. "(Last year) Santa Cruz was the most polluted city on the planet for a week. This year it will happen again and that means direct damage to human health," said Vadillo. Sign up here. https://www.reuters.com/world/americas/bolivia-wildfires-rage-smoke-turns-day-into-night-2024-09-11/
2024-09-11 20:49
WRIGHTWOOD, California, Sept 11 (Reuters) - Three Southern California wildfires torched dozens of mountain homes, tore through a ski resort and forced thousands to evacuate in towns and cities east of Los Angeles on Wednesday. Around 40 homes and cabins burned in the villages of Mount Baldy and Wrightwood and flames damaged lifts at the nearby Mountain High ski resort, the Los Angeles Fire Department reported. The San Bernardino County blaze, named the Bridge Fire, exploded to 48,000 acres (19,000 hectares) in 48 hours, becoming the largest in the state. By Wednesday afternoon the three fires had blackened over 105,000 acres of scrub, brush and forest, an area a third the size of Los Angeles. "In recent history, this is the fire that has been the most dramatic over a single day period," LAFD spokesman Fred Fielding said of the Bridge Fire, as flames burned on a nearby hillside. Mike Devestern, 55 and a Wrightwood resident, said he was stunned by the speed with which the fire arrived on his doorstep and the chaos of watching his community flee Tuesday afternoon. "It was like a movie yesterday," he said. "Everybody ... trying to get out of here before they got burnt." The Airport Fire in Orange and Riverside counties destroyed dozens of homes in El Cariso Village and Decker Canyon as it grew to over 23,000 acres, according to authorities and local news reports. "There was no more exit, you had to drive through the flames to get out," Ryan LaMothe, whose home was destroyed by the Airport Fire, told local television news station KTLA5. Governor Gavin Newsom declared a state of emergency and said he had secured federal funds to fight the fires. Tinder-dry scrub and gusting winds are driving flames up steep canyons and mountainsides during a severe heatwave that scientists blame on climate change. Over a dozen injuries to civilians and firefighters have been reported. Cooler conditions are expected later in the week. People taped gaps around their doors and schools closed at least 10 districts because of smoky air from another blaze in San Bernardino County, the Line Fire. The county sheriff's office arrested a 34-year-old man for allegedly starting the blaze on Sept. 5. Approximately 18,000 people have been ordered to evacuate homes in San Bernardino County neighborhoods like East Highlands which butt up against the mountains. Law enforcement said they were patrolling the largely deserted neighborhoods to prevent looting. Wildfires are a natural occurrence in the area but the ability of firefighters to just let them burn has been hampered by people moving there after being priced out of Los Angeles. Many new homeowners struggle to get fire insurance. The area of land burned in California this year is already double that of 2023, when the state enjoyed more moisture, according to data from California's Department of Forestry and Fire Protection, or CAL FIRE. The United States is experiencing a strong wildfire year with 6.9 million acres burned to date, compared with an annual, full-year average of around 7 million acres over the last decade, according to National Interagency Fire Center data. Sign up here. https://www.reuters.com/world/us/california-wildfires-torch-mountain-homes-ski-resort-2024-09-11/
2024-09-11 20:37
TSX ends up 0.9% at 23,211.17 Dollarama jumps 8.2% on earnings beat Energy snaps its losing streak Uranium miners rally Sept 11 (Reuters) - Canada's main stock index rose to a near two-week high on Wednesday, led by shares of Dollarama, as investors bet on the economy avoiding recession even if the Federal Reserve opts against an oversized interest rate cut. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 208.08 points, or 0.9%, at 23,211.17, its highest closing level since Aug. 29. U.S. benchmark the S&P 500 index also rose as a boost from the technology sector offset investor disappointment with inflation data. The data crushed hopes the Fed would cut interest rates by half a percentage point rather than quarter a percentage point next week. "The 50-basis-point cut that some participants were wishing for isn't necessary given the context of other economic information that supports a resilient economy," said Ian Chong, a portfolio manager at First Avenue Investment Counsel. "We are not heading towards a hard landing or a recession but moderating lower toward a soft landing scenario." All ten major sectors rose, led by a 3.7% gain for consumer discretionary as Dollarama Inc (DOL.TO) , opens new tab beat second-quarter profit estimates. Shares of the retail chain company jumped 8.2%. Technology also stood out, rising 1.6%, while energy snapped a 7-day losing streak as the price of oil settled 2.4% higher at $67.31 a barrel. Uranium mining shares climbed, with Denison Mines Corp (DML.TO) , opens new tab up 5.9% and Cameco (CCO.TO) , opens new tab adding 5.7% as Russian President Vladimir Putin said that Moscow should consider limiting exports of uranium, titanium and nickel in retaliation for Western sanctions. Around 100 business groups on Wednesday urged Ottawa to prevent a strike by Air Canada (AC.TO) , opens new tab pilots, saying a stoppage would disrupt supply chains and spoil Canada's reputation as a reliable partner. The airline's shares were up 1.9%. Sign up here. https://www.reuters.com/markets/tsx-futures-flat-investors-await-us-inflation-data-2024-09-11/