2024-09-19 20:51

Russia carries out new airstrikes in Ukraine Guided bomb hits geriatric centre in Sumy Ukraine faces winter power shortfall, IEA says Moscow says it is advancing in eastern Ukraine KYIV, Sept 19 (Reuters) - Russian forces hit a geriatric centre in the Ukrainian city of Sumy and targeted its energy sector in a new wave of airstrikes on Thursday, killing at least one civilian, Ukrainian officials said. A U.N. monitoring body said attacks on the power grid probably violated humanitarian law , opens new tab while the International Energy Agency said in a report that Ukraine's electricity supply shortfall in the critical winter months could reach about a third of expected peak demand. During a daytime strike on the northern city of Sumy, a Russian guided bomb hit a five-storey building, regional and military officials said. One person was killed and 12 wounded, the interior ministry said on the Telegram messaging app. President Volodymyr Zelenskiy said rescue teams were checking to see whether people were trapped under rubble. Images from the site shared alongside the ministry's post showed elderly patients evacuated from the damaged building lying on the ground on carpets and blankets. In his nightly video address, Zelenskiy said that Russia had launched 90 guided bomb attacks in the past 24 hours He also said that Ukraine's forces had "managed to diminish the occupiers' assault potential in Donetsk region," though the situation remained difficult in areas subjected to the heaviest attacks, near the cities of Pokrovsk and Kurakhove. Russia's Defence Ministry said its forces had captured the village of Heorhiivka, east of Kurakhove. The General Staff of Ukraine's military, in an afternoon report, referred to the village as one of several engulfed by fighting. Popular Ukrainian military blog DeepState said the village was in Russian hands. Overnight, Ukraine's air force said it had shot down all 42 drones and one of four missiles launched since Russia invaded Ukraine more than 2-1/2 years ago. Russian forces have pummelled the energy system in the Sumy region in multiple strikes this week, reducing power in some areas and forcing authorities to use back-up power systems. Ukraine's energy ministry said power cuts had been in force in 10 regions due to airstrikes and technological reasons. In a sign of its concern, the European Union said a fuel power plant was being dismantled in Lithuania to be rebuilt in Ukraine, and that electricity exports would also be increased. The U.N. Human Rights Monitoring Mission in Ukraine said Russia's attacks violated international humanitarian law by jeopardizing essential services, including water and heating, while also threatening public health, education and the economy, according to the report. Kyiv says targeting energy system is a war crime, and the International Criminal Court has issued arrest warrants for four Russian officials and military officers for the bombing of civilian power infrastructure. Moscow says power infrastructure is a legitimate military target and dismisses the charges as irrelevant. SUMY A FREQUENT TARGET Moscow has repeatedly attacked the Sumy region, which borders Russia's Kursk region, the site of a major Ukrainian incursion in which Kyiv says it seized over 100 settlements. Russian shelling killed three people near Krasnopillia in the Sumy region on Wednesday evening, local prosecutors said. More shelling on Thursday wounded two people and damaged a medical institution, they added. Russia has taken back two more villages in Kursk, a senior commander said on Thursday, adding that Russian forces were also advancing in eastern Ukraine. Zelenskiy, however, said the incursion into Kursk region had succeeded in diverting nearly 40,000 Russian troops to the area. Sign up here. https://www.reuters.com/world/europe/ukraine-says-it-downed-42-drones-one-missile-russian-attacks-overnight-2024-09-19/

2024-09-19 20:45

HOUSTON/BOGOTA, Sept 19 (Reuters) - Colombia must decide soon whether to focus on imports of liquefied natural gas (LNG) or encourage domestic output of natural gas if it wants to avoid power blackouts, consultancy Wood Mackenzie's head of Americas Gas and LNG said on Thursday. Under leftist President Gustavo Petro, Colombia has moved away from fracking to develop its reserves of shale crude and gas. Earlier this month, a judge at a court in the city of Santa Marta ordered the suspension of work at a key offshore gas project by state-controlled Ecopetrol (ECO.CN) , opens new tab and Brazil's Petrobras (PETR4.SA) , opens new tab. The two strategies are seen critical to secure gas supplies to feed the country's utilities and its industrial sectors in the coming years, according to experts. "The Guajira (onshore gas) fields will continue that steep (output) decline. And if you play a scenario where you have a dry hydrology without domestic gas supplies, you will eventually be in a situation facing a risk of blackouts," Wood Mackenzie's Mauro Chavez told Reuters in an interview on the sidelines of the Gastech conference in Houston. Absent incentives and authorizations to encourage domestic gas output, the country is expected to be forced to expand its capacity to receive LNG imports, which would require the construction of an additional regasification terminal that is not yet in plans and to secure supply contracts, he added. "The country has to decide whether to rely on imports of LNG... or really support the domestic production," he said. Ecopetrol, Colombian government ministries and Petrobras "have joined together to appeal the judge's decision and be able to restart the activities," Ecopetrol CEO Ricardo Roa said in a video message shared with journalists on Thursday. "This discovery is key to guaranteeing the country's energy security," Roa added. The suspension at the Tayrona exploratory offshore block was ruled as the court found the companies had failed to properly consult a local indigenous community about the operation. The Uchuva-2 well that was suspended is an important hope for Colombia's dwindling gas reserves, which closed last year at 2.4 trillion cubic feet, equivalent to 6.1 years of consumption, the government's National Hydrocarbons Association reported. The project's potential reserves are equivalent to 2.5 times Colombia's current reserves. Sign up here. https://www.reuters.com/business/energy/colombia-needs-natgas-strategy-soon-avoid-blackouts-analyst-say-2024-09-19/

2024-09-19 20:32

Sept 19 (Reuters) - Consumers started shopping for Halloween decor and costumes well before October this year, taking advantage of special events, even though overall spending has decreased from last year's record high, data from the National Retail Federation (NRF) showed on Thursday. WHY IT'S IMPORTANT Interest in Halloween shopping is usually driven by individuals aged 25 to 34 years and data from the NRF shows that 56% of shoppers within this age group kicked off their shopping before October. This year, retailers have rushed to bring in their holiday season and Halloween shipments early, hedging against potential strikes by port workers and shipping disruptions. Despite recent increase in cocoa prices, candies are still expected to remain the most popular category, with total spending projected to reach $3.5 billion. CONTEXT As the holiday season approaches, consumer spending is set to be closely monitored, as retailers roll out early promotions on items such as electronics, apparel and home decor. With the Federal Reserve delivering an expected 50 basis point interest rate cut this week, consumer sentiment is expected to improve, while retail sales remain steady due to strong online spending. KEY QUOTE "Consumers are still prioritizing these events, especially Halloween, which has become a moment of great cultural significance in the U.S. over time," Katherine Cullen, NRF vice president, industry and consumer insights, said. BY THE NUMBERS Total spending is projected to reach $11.6 billion, down from 2023's record high of $12.2 billion, according to NRF data. Still, per-person spending is expected to fall by only $4.6, with Cullen pointing out that individual expenditures remain elevated, compared to the levels in 2022 and 2019. Shopping for Halloween and the fall season began before October for 47% of shoppers surveyed by the NRF, an increase from 37% five years ago. Sign up here. https://www.reuters.com/business/retail-consumer/halloween-shoppers-hunt-early-deals-while-total-spending-eases-survey-shows-2024-09-19/

2024-09-19 20:15

Sept 19 (Reuters) - Human remains were found in a burned-out car that struck an Energy Transfer (ET.N) , opens new tab natural gas liquids pipeline earlier this week in Houston, prompting a criminal investigation, officials said on Thursday. Police removed the vehicle that hit the pipeline and the Harris County medical examiners recovered human remains, the Deer Park Office of Emergency Management said in a statement. Medical examiners will begin identifying the remains, it said. Energy Transfer on Thursday said a fire at its natural gas liquid pipeline in La Porte, Texas, that started on Monday continued to safely burn itself out, and that it was in the process of installing isolation equipment. "The investigation into the cause of the damage to our pipeline is underway by local law enforcement agencies," Energy Transfer said in a statement. The company did not immediately respond to a request for comment on the reported criminal investigation or human remains discovered in the car. The fire is suspected to involve the Justice pipeline, according to researchers from investment firm Tudor, Pickering, Holt & Co. However, Energy Transfer has not confirmed the name or capacity of the pipeline. The Justice pipeline, which entered service in 2012 with a capacity of 375,000 barrels per day, carries Y-grade - a mixture of natural gas liquids - from the Permian and Eagle Ford shale fields in Texas to Energy Transfer's Mont Belvieu fractionators. Sign up here. https://www.reuters.com/world/us/criminal-inquiry-underway-after-body-found-car-that-hit-energy-transfer-pipe-2024-09-19/

2024-09-19 19:59

VIENNA, Sept 19 (Reuters) - The far-right Austrian Freedom Party's lead over its nearest rival has shrunk to within the margin of error, two recent opinion polls showed, the most recent of which was published on Thursday, 10 days before Austria's parliamentary election. Extreme rain last weekend caused severe flooding in parts of Lower Austria, the province that surrounds Vienna. It forced the cancellation of campaign events while conservative Chancellor Karl Nehammer has remained in the public eye, chairing emergency response meetings and visiting flooded areas. The two surveys, carried out after the worst of the flooding, showed Nehammer's People's Party (OVP) closing the gap with the anti-Islam Freedom Party (FPO), which has led in opinion polls for more than a year. A survey by pollster Market for newspaper Der Standard published on Thursday showed 27% of respondents said they backed the FPO and 25% the OVP, with a margin of error of 3.1 percentage points. The opposition Social Democrats (SPO) were third with 20%. The survey of 828 people was carried out from Monday to Wednesday and was a combination of online and in-person interviews, a method pollsters say is more reliable than solely online surveys since older voters tend to use the internet less. The last time that poll was carried out, in July, the FPO was also at 27% but it had a five-point lead over both the OVP and the SPO. A separate survey by pollster OGM for Servus TV published on Wednesday showed the FPO at 26%, just ahead of the OVP at 25% and the SPO with 21%. That online survey of 1,022 people also had a margin of error of 3.1 percentage points and was carried out between Monday and Wednesday. The online interviews in both polls were conducted with people who were initially recruited offline. Sign up here. https://www.reuters.com/world/europe/austrian-polls-show-far-rights-lead-shrinking-within-margin-error-2024-09-19/

2024-09-19 19:35

NEW YORK, Sept 19 (Reuters) - A Macquarie Group (MQG.AX) , opens new tab investment adviser has agreed to pay $79.8 million to settle charges in connection with overvaluing collateralized mortgage obligations (CMO) held in advisory accounts, the U.S. Securities and Exchange Commission said. The regulator found that Macquarie Investment Management Business Trust, which is a part of Macquarie Asset Management, overvalued about 4,900 largely illiquid CMOs in 20 advisory accounts, including 11 retail funds and also executed hundreds of cross trades that favored certain clients over others. From January 2017 through April 2021, the firm, which managed a fixed-income investment strategy primarily focused on mortgage-backed securities, CMOs and Treasury futures, assigned the wrong prices to certain products and thus overstated the performance of client accounts, the SEC said. Regulators found Macquarie attempted to minimize losses to redeeming investors by arranging cross trades with affiliated accounts, rather than selling the overvalued products into the market. Macquarie Asset Management, which did not admit or deny the SEC's findings, said in a statement it has already begun remediation and is continuing the process, with the focus on clients. “Our business is built on the principles of integrity and accountability," the statement said. "This legacy matter is not consistent with how we do business." Sign up here. https://www.reuters.com/business/finance/macquarie-unit-pay-nearly-80-million-settle-sec-charges-2024-09-19/