2025-09-19 22:31
MEXICO CITY, Sept 19 - The death toll from an explosion involving a tanker truck carrying liquefied petroleum gas (LPG) in Mexico's capital has climbed to 25, the city's Health Ministry said on Friday. The truck, hauling about 50,000 liters of LPG, overturned and slammed into a wall. A rupture vented gas that ignited, setting off an explosion and a fire that torched around 30 vehicles. Sign up here. The fatalities have climbed since Wednesday last week, when the truck burst into flames and exploded while traveling on a busy highway in Iztapalapa, Mexico City's most populous borough. "Regarding the Iztapalapa incident, we can confirm that 21 people remain hospitalized, 38 have been discharged, and tragically, 25 people have died," Mexico City Health Ministry reported. The incident has stirred frustration over safety conditions on Mexico's highways, prompting calls for tighter oversight of hazardous cargo transport and road maintenance. Residents also voiced frustration over broader challenges on the city's outskirts, where long, difficult commutes are common. The truck's driver died earlier this week. A two-year-old girl, one of the youngest victims, remains among the injured and was transferred last week to a U.S. hospital in Galveston, Texas. At least 11 other minors injured in the blast were treated locally. Initial investigations by city authorities suggested that the driver's excessive speed and lack of skill caused the accident. Investigations are ongoing. https://www.reuters.com/world/americas/death-toll-tanker-truck-explosion-mexico-city-rises-22-2025-09-19/
2025-09-19 22:01
WASHINGTON, Sept 19 (Reuters) - A group of Republican and Democratic U.S. senators introduced legislation on Friday that would expand sanctions against Russian energy, specifically by targeting a collection of older oil tankers the lawmakers say are used to dodge existing U.S. energy sanctions. The "Sanctioning Harbors and Dodgers of Western Sanctions," or SHADOW Fleets Act comes as President Donald Trump has said he wants to discourage countries from purchasing Russian oil, which fuels Russia's economy and helps pay for its war on Ukraine. Sign up here. The bill is sponsored by Republican Senator Jim Risch of Idaho, the chairman of the Senate Foreign Relations Committee, and Senator Jeanne Shaheen of New Hampshire, the panel's top Democrat, as well as seven other Republican and Democratic senators. The bill would target the so-called Shadow Fleet by providing a list of indicators the U.S. can use to identify vessels supporting the Russian fleet, establish strict sanctions liability for any ship that engages in a transfer with a sanctioned vessel. Among other things, it also sanctions Russian Arctic liquid natural gas projects and new Russian LNG project development. It also would end the Nord Stream II natural gas pipeline to Europe. The measure also would bring U.S. sanctions more closely into line with those of the European Union. EU officials said , opens new tab on Friday the bloc plans to ban Russian LNG imports a year earlier than envisaged, as part of a 19th package of sanctions against Moscow. The bill's prospects were not clear. A separate bill seeking to impose stiff sanctions on Russia, introduced early this year and backed by a large majority of senators, has not advanced, as Congress' Republican leaders await word from Trump on whether he wants sanctions to go ahead. As the world reacted to a Russian incursion into Estonian air space that raised fears of increased instability, different groups of senators also introduced separate bills on Friday seeking to boost security in Eastern Europe and use frozen Russian assets to help Ukraine. https://www.reuters.com/business/energy/us-lawmakers-want-sanctions-sink-russias-shadow-fleet-2025-09-19/
2025-09-19 21:49
Intervention meets high dollar demand from uneasy investors Peso hits record low in informal market Economy minister vows to sell 'every last dollar' BUENOS AIRES, Sept 19 (Reuters) - Argentina's central bank on Friday made its largest daily dollar sale in nearly six years as it continued to use reserves to support the local currency, meeting strong dollar demand from institutional investors wary of political instability. The bank's latest intervention totaled $678 million, its largest for a single day since October 2019, bringing the amount sold in the last three sessions to $1.1 billion. Sign up here. The bank has been seeking to manage liquidity at the top of its floating exchange-rate band, and Argentina's economy chief vowed to keep using the monetary authority's reserves as the local peso hovers at historic lows. "We're going to sell every last dollar (of the central bank's reserves) at the top of the band," Economy Minister Luis Caputo said on Thursday night during a livestreamed interview. The deteriorating market backdrop underscores deepening investor skepticism ahead of pivotal midterm elections in October that could strip libertarian President Javier Milei of crucial congressional support for his reform agenda. On Friday, the wholesale peso settled stable at 1,475 per dollar after the central bank's moves, near the band's ceiling. In the informal "blue" market, however, the Argentine currency slipped to an all-time low of 1,520 per greenback, weakening more than 6% in the week. The central bank had not made an intervention since mid-April, after a $20 billion International Monetary Fund deal that initially loosened foreign-exchange curbs. "Given that this pace of dollar sales by the central bank would imply a loss of reserves of approximately $10 billion before the elections - approximately 70% of the funds already disbursed by the IMF - the likelihood of abandoning the exchange-rate band scheme before the October 26 elections increases," BancTrust & Co said. While the central bank's international reserves stand at $39.26 billion, analysts say provisional official data indicates that net foreign exchange reserves for intervention are estimated at just $6 billion. Continued dollar sales, experts warn, risk accelerating reserve depletion, jeopardizing near-term debt payments and triggering a rise in bond issuance to bridge funding gaps. Caputo affirmed the current exchange rate framework and said the Treasury is working to ensure January debt payments, promising to provide clarity to bondholders once finalized. Argentina's country risk - a measure of investor confidence - reached its highest level since August 2024, hovering around 1,500 basis points, while over-the-counter bonds fell 1.4% on average. They were down 9.2% in the week. Buenos Aires' main stock index (.MERV) , opens new tab closed down 0.7% on Friday. Argentines vote in October to renew part of the lower house and Senate, amid uncertainty over how the government will recover from setbacks in Buenos Aires province in recent contests. https://www.reuters.com/world/americas/argentinas-central-bank-makes-biggest-daily-dollar-sale-six-years-curb-peso-2025-09-19/
2025-09-19 20:50
Sept 19 (Reuters) - The Trump administration has sided with Canadian pipeline operator Enbridge (ENB.TO) , opens new tab in its legal battle against Michigan, filing a court statement last week that challenges the state's efforts to shut down the Line 5 oil pipeline. Enbridge has been locked in a long-running dispute with Michigan over the aging Line 5 pipeline, which ships 540,000 barrels per day of crude and refined products from Superior, Wisconsin, to Sarnia, Ontario. Sign up here. The Calgary-based company is proposing to build a roughly 4-mile (6-km) tunnel for the pipeline, which crosses through the Straits of Mackinac in the Great Lakes. The project faces opposition from Native American tribes and environmental groups, who fear it poses a risk to the Great Lakes. Enbridge said in a statement that it remains confident in the Michigan Public Service Commission's permitting process, which approved the tunnel project. https://www.reuters.com/world/us/us-justice-department-files-statement-interest-enbridge-michigan-case-2025-09-19/
2025-09-19 20:38
TSX ends up 1.1% at 29,768.36 Surpasses Thursday's record closing high Materials sector jumps 3.9% as gold price climbs Barrick Mining climbs 9.7% Sept 19 (Reuters) - Canada's main stock index rose to another record high on Friday as gold mining shares climbed and investors cheered the Bank of Canada's recent move to support the domestic economy. The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 314.83 points, or 1.1%, at 29,768.36, surpassing Thursday's record closing high. Sign up here. For the week, the index was up 1.7%, its seventh straight weekly gain. That is the longest such streak since February 2024. "The Bank of Canada's recent rate cut was a shot in the arm that the market was looking for," said Victor Kuntzevitsky, a portfolio manager at Stonehaven, Wellington-Altus Private Counsel. "It's a clear signal that the bank is confident in the inflation trajectory and is now pivoting to support economic expansion. And in our view, this has fundamentally repriced risk for investors and provided a clear tailwind for Canadian equities." Canadian retail sales fell 0.8% in July but an advanced indicator pointed to sales rebounding by 1% in August. On Wednesday, the BoC reduced its key policy rate to a three-year low of 2.5% and said it was prepared to cut further if risks to the economy rose. The materials sector (.GSPTTMT) , opens new tab, which includes fertilizer companies and metal mining shares, jumped 3.9%, as the price of gold moved closer to another record high. Gold and copper producer Barrick Mining Corporation (ABX.TO) , opens new tab was the top-performing stock, with its shares climbing 9.7%. "The surge in gold stocks reflects a disciplined focus on cost management among Canadian producers," Kuntzevitsky said. "We really feel that investors are rewarding companies with strong operational efficiencies that can turn higher gold prices directly into shareholder value." The consumer staples sector (.GSPTTCS) , opens new tab gained 1.3% and heavily weighted financials (.SPTTFS) , opens new tab were up 0.9%. Just two of 10 major sectors ended lower, including energy (.SPTTEN) , opens new tab. Energy lost 2.2% as the price of oil settled 1.4% lower at $62.68 a barrel on worries about large supplies and declining demand. https://www.reuters.com/markets/europe/tsx-futures-inch-down-after-record-rally-2025-09-19/
2025-09-19 20:36
Indexes up: Dow 0.37%, S&P 500 0.49%, Nasdaq 0.72% FedEx results top targets on cost-cutting, shares jump Lennar drops on weak forecast Trump, Xi make trade progress in first call since June Sept 19 (Reuters) - All three of Wall Street's main indexes registered record closing highs for a second straight day on Friday, with trading volume hitting its highest level since April, as FedEx (FDX.N) , opens new tab rose after upbeat earnings. The S&P 500 and the Nasdaq notched their third straight week of gains, boosted by the Federal Reserve's first rate cut of 2025 on Wednesday and indications of further monetary policy easing. Sign up here. Volume on U.S. exchanges on Friday was 27.78 billion shares, compared with the 17.41 billion average for the full session over the last 20 trading days. Trading volume in early April broke U.S. records as the market was whipsawed in the wake of U.S. President Donald Trump's tariff announcements. Shares of parcel delivery company FedEx popped 2.3% after it reported quarterly profit and revenue above analyst estimates on Thursday, as cost-cutting and strength in domestic deliveries helped offset weaker international volumes. Apple (AAPL.O) , opens new tab rose 3.2% following a price target raise from J.P. Morgan, while gains in Palantir Technologies (PLTR.O) , opens new tab and Oracle (ORCL.N) , opens new tab also drove the S&P 500 technology (.SPLRCT) , opens new tab sector up 1.19%. Seven of the 11 S&P sector indexes rose, while energy (.SPNY) , opens new tab stocks were the biggest drag. Wall Street wavered earlier in the day as investors continued to digest the Fed's outlook and get a read on Stephen Miran, its newest governor and White House economic adviser, who spoke on CNBC on Friday morning. "Certainly if the idea is the Fed is moving in a direction to relax the inflation target, that is definitely a recipe for running hot, and that's good for stocks," said Scott Ladner, chief investment officer at Horizon Investments. The Dow Jones Industrial Average (.DJI) , opens new tab rose 172.85 points, or 0.37%, to 46,315.27, the S&P 500 (.SPX) , opens new tab gained 32.40 points, or 0.49%, to 6,664.36 and the Nasdaq Composite (.IXIC) , opens new tab gained 160.75 points, or 0.72%, to 22,631.48. For the week, the S&P 500 rose 1.2%, the Nasdaq climbed 2.2% and the Dow added 1.05%. The small-cap Russell 2000 index (.RUT) , opens new tab dropped 0.71% after briefly hitting an intraday record high. It notched a record close on Thursday, its first since November 2021. "Small caps have been trading inversely with rates, and it's just the idea of small caps benefiting disproportionately from lower interest rates," Ladner said. Meanwhile, Trump and Chinese counterpart Xi Jinping spoke by phone, after which Trump said that the two leaders made progress on a TikTok deal and agreed to a face-to-face meeting as soon as next month in South Korea. Also on Friday, the Senate blocked a short-term funding bill, increasing the likelihood of a U.S. government shutdown. Wall Street's three main indexes are in positive territory so far in September - a month traditionally deemed bad for U.S. equities. The benchmark S&P 500 has shed 1.4% on average in the month since 2000, according to data compiled by LSEG. In other stock news, Lennar (LEN.N) , opens new tab fell 4.2% after the homebuilder reported a lower third-quarter profit and forecast fourth-quarter home deliveries below estimates. Paramount Skydance (PSKY.O) , opens new tab jumped 5.9% after a CNBC report laid out more details about the media company's potential bid for Warner Bros Discovery (WBD.O) , opens new tab, which rose 3.4%. An offer could come later than previously expected, according to CNBC. Declining issues outnumbered advancers by a 1.43-to-1 ratio on the NYSE, and by a 1.42-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and 17 new lows while the Nasdaq Composite recorded 151 new highs and 54 new lows. https://www.reuters.com/business/us-stock-futures-steady-indexes-set-weekly-gains-fedex-up-2025-09-19/
