2025-08-13 10:57
PARIS, Aug 13 (Reuters) - France has recalled several kinds of camembert, brie and other soft cheeses after two people died from listeriosis infection and several fell ill after eating cheeses sold in supermarkets nationwide. The health ministry said dairy firm Chavegrand is recalling dozens of batches of soft-rind cheeses after a possible link was established between the cases of listeriosis and consumption of its products. Sign up here. Chavegrand, a family-owned firm which produces cheese for several supermarket chains including Leclerc, Carrefour and Auchan, said an old production line where the suspect cheeses had been made was now closed and products currently on supermarket shelves are safe. "We were shocked to hear about these two dramas and we are working hard to make sure our production lines are safe," company spokesman Guillaume Albert told Reuters. The recalled products are all soft cheeses with a bloomy rind made from pasteurized cow's or goat's milk and were sold until August 9 throughout France and internationally under various brand names, the health ministry said. Listeriosis, the infection caused by the listeria bacteria, causes flu-like symptoms, nausea, diarrhoea and infection of the blood and brain. It poses a higher risk for newborns, the elderly, pregnant women and people with weak immunity. The health ministry said the people infected were aged 34 to 95 and that one of the people who died had underlying medical issues. The first cases were identified in June. https://www.reuters.com/sustainability/boards-policy-regulation/france-recalls-soft-cheeses-after-two-suspected-deaths-listeriosis-2025-08-13/
2025-08-13 10:55
PARIS, Aug 12 (Reuters) - Four reactors at France's Gravelines nuclear plant will return to operation throughout the week, slightly later than initially planned, EDF data showed on Tuesday, after they were forced offline by a swarm of jellyfish in the cooling systems. The plant in northern France is one of the largest in the country and is cooled from a canal connected to the North Sea. Its six units produce 900 megawatts of power each, or 5.4 gigawatts in total. Sign up here. The first reactor, unit 6, is expected to restart on Tuesday, and then one reactor is expected to come back online each day until all four have returned to service on Friday, EDF data showed. The original plan was for all four to restart on Tuesday. EDF did not give a reason for the delay, although France is in the midst of a heatwave that is creating challenges for many nuclear cooling systems. Its data showed the first reactor had still not restarted by 1250 GMT on Tuesday. The whole Gravelines plant was temporarily halted on Monday after a "massive and unpredictable" swarm of jellyfish got into the cooling systems, EDF said. Four reactors were taken offline, while the other two were already undergoing planned maintenance. They were English Barrel jellyfish, a native, non-stinging species that can grow up to 90 centimetres across, said citizen scientist Aäron Fabrice de Kisangani. The current would have pushed the jellyfish from the harbour and into the canal towards the nuclear plant, and then they would not have been able to escape the suction of the water coolant system, pulling them into the filters, Aaron said. Higher average sea temperatures this year could cause larger jellyfish blooms, he added, noting that jellyfish were staying longer in the North Sea due to mild autumns and winters. This is not the first time that jellyfish have disrupted nuclear plants. Scotland's Torness faced similar problems in 2011, while Gravelines itself was disrupted in 1993. Scientists warn such events could become more common due to factors including global warming, the arrival of invasive species, habitat loss of predators and over-fishing. https://www.reuters.com/business/energy/jellyfish-hit-french-nuclear-plant-facing-delayed-restart-2025-08-12/
2025-08-13 10:54
Vote to cut key rate by 25 bps to 1.50% was unanimous BOT says policy to be accommodative going forward GDP to slow in H2 on tariff impact on businesses and consumption Governor Sethaput's last meeting, Vitai takes over in October BANGKOK, Aug 13 (Reuters) - Thailand's central bank lowered its policy rate to a near three-year low on Wednesday to boost a slowing economy grappling with U.S. tariffs, falling prices and weak foreign tourist arrivals, with further policy easing seen later this year. As widely expected, the monetary committee unanimously cut the one-day repurchase rate (THCBIR=ECI) , opens new tab by 25 basis points to 1.50%, the lowest since late 2022. It was the fourth reduction in 10 months. Sign up here. The economy was expected to expand this year and next, close to earlier assessments of 2.3% and 1.7%, respectively, but U.S. trade policies would exacerbate structural problems and weaken competitiveness, with small businesses especially vulnerable, the Bank of Thailand said. "The committee views that monetary policy should be accommodative going forward to support the economy," it said. This year's growth forecast has some upside from a surge in exports, assistant governor Sakkapop Panyanukul told a press conference after Wednesday's decision. Exports, a key growth driver, grew 15% annually in first six months of 2025 as shippers raced to beat U.S. tariffs, but higher U.S. levies on most trading partners went into effect on August 7, with those on Thai imports set at 19%. The economy will slow in the second half, although there is little chance of a technical recession - or two consecutive quarterly contractions, Sakkapop added. The central bank is ready to ease further if the economy faces severe shocks, he said. "Weak economic growth remains the main reason for expecting more easing," said Gareth Leather, senior Asia economist at Capital Economics, said in a note, predicting a further 50 basis-point cuts by the end of the year. Southeast Asia's second-largest economy also has struggled with weak consumption and high household debt, with analysts expecting rate reductions at reviews in October and December. Wednesday's meeting was the last for Governor Sethaput Suthiwartnarueput. New Governor Vitai Ratanakorn, widely seen as dovish, will take over in October, and he has said rate cuts will support growth. "Led by the new BoT Governor, we expect the BoT to deepen its easing cycle further, cutting the policy rate to 1.00% by 1Q 2026," HSBC economist Aris Dacanay said in a note. Kobsidthi Silpachai, head of Capital Markets Research at Kasikornbank, expects a further cut in December. Sakkapop also said that the central bank will ensure that the baht currency moves in line with economic fundamentals. The baht reversed course to fall 0.1% after the announcement, while Thai stocks (.SETI) , opens new tab extended gains after the decision. Finance Minister Pichai Chunhavajira said the rate cut will boost liquidity and help exporters by weakening the baht, which has firmed more than 6% against a softening U.S. dollar so far this year. In June, the BOT predicted 2025 economic growth of 2.3%, with export growth of 4%, after factoring in U.S. tariff rates of 18%. The economy expanded 2.5% last year, lagging peers. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. The United States was Thailand's biggest export market last year, accounting for 18.3% of total shipments, with a value of $55 billion. Consumer prices (THCPI=ECI) , opens new tab in July fell 0.7% from a year earlier, down for a fourth consecutive month, and below the central bank's target range of 1% to 3% for the fifth consecutive month. Headline inflation was subdued because of supply-side factors but there are no signs of deflation yet, Sakkapop said. In June, the central bank predicted headline inflation of 0.5% this year, with the core rate seen at 1%. Adding to the challenges is renewed political turmoil that could bring down , opens new tab Prime Minister Paetongtarn Shinawatra , opens new tab or the coalition government led by her Pheu Thai party. https://www.reuters.com/world/asia-pacific/thailand-cuts-key-rate-near-three-year-low-growth-sputters-more-easing-expected-2025-08-13/
2025-08-13 10:53
LONDON, Aug 13 (Reuters) - Oil prices edged lower on Wednesday after the IEA noted supply overtaking demand this year, while investors awaited Friday's meeting between U.S. President Donald Trump and Russian President Vladimir Putin. Brent crude futures fell 41 cents, or 0.6%, to $65.71 a barrel by 1037 GMT, while U.S. West Texas Intermediate crude futures edged down 50 cents, or 0.8% to $62.67. Sign up here. Both contracts settled lower on Tuesday. "The API oil inventory report last night together with a dovish oil market outlook from the IEA today weighed on prices," said UBS commodity analyst Giovanni Staunovo. The International Energy Agency on Wednesday raised its forecast for oil supply growth this year but lowered its demand forecast due to lacklustre fuel demand across the major economies. Meanwhile, in its monthly report on Tuesday OPEC+ raised its global oil demand forecast for next year and trimmed estimates of supply growth from the United States and other producers outside the wider group, pointing to a tighter market. "Were we to take an aggregate of the respective IEA and OPEC oil demand growth projections for 2025 at their respective bearish and bullish ends, even a modest middle figure say just north of 1 million bpd can easily be serviced by non-OPEC supply growth alone at the moment," said independent energy analyst Gaurav Sharma. "So, I don't see a bullish case for oil over the near-term horizon." Meanwhile, crude inventories in the United States, the world's biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly. Analysts polled by Reuters expect today's Energy Information Administration report to show crude inventories fell by about 300,000 barrels last week. Trump and Putin are due to meet in Alaska on Friday to discuss ending Russia's war in Ukraine, which has shaken oil markets since February 2022. "It's difficult to see what comes out of the meeting on Friday, particularly if the Europeans are not present in Alaska," Staunovo added. While Trump's administration has tried to temper expectations for major progress toward a ceasefire, calling the summit a "listening exercise", Ukraine and most European countries have said a lasting peace cannot be secured without Ukraine at the negotiating table. https://www.reuters.com/business/energy/oil-falls-iea-raises-supply-forecast-investors-await-us-russia-meeting-2025-08-13/
2025-08-13 10:50
BENGALURU, Aug 13 (Reuters) - Indian gold loan financier Muthoot Finance (MUTT.NS) , opens new tab reported a bigger-than-expected 90% surge in first-quarter profit on Wednesday, aided by higher loan demand as prices of the precious metal soared. Muthoot Finance reported a profit of 20.46 billion rupees ($233.91 million) for the April-June quarter, above analysts' estimate of 16.24 billion rupees, per data compiled by LSEG. Sign up here. Gold prices hit multiple record highs during the quarter. This benefits gold financiers as higher prices increase the collateral value, allowing borrowers to secure larger loans for the same amount of gold. Additionally, tighter lending in the unsecured segment prompted people to shift to gold loans as an alternative source of funds, analysts said. Muthoot Finance's standalone loan assets under management rose 42% year-on-year to 1.2 trillion rupees at the end of the quarter, and interest income jumped about 53% to 55.92 billion rupees. "We are well-positioned to sustain strong growth through fiscal 2026 and beyond," Managing Director George Alexander Muthoot said in a statement. The company also approved equity infusion of 5 billion rupees and 2 billion rupees in its units, Muthoot Money and Muthoot Homefin, respectively. ($1 = 87.4710 Indian rupees) https://www.reuters.com/world/india/indias-muthoot-finance-beats-quarterly-profit-view-strong-loan-growth-2025-08-13/
2025-08-13 10:49
Vestas second quarter profit lags forecast Orders dropped in Q2, but are up for Q3 Keeps 2025 outlook despite US trade policy uncertainty Shares down 2.3%, up 16% year-to-date COPENHAGEN, Aug 13 (Reuters) - Danish wind turbine maker Vestas (VWS.CO) , opens new tab swung to a profit in the second quarter from a loss a year before, maintaining its financial outlook for 2025 on expectations it could overcome the impact of U.S. policy uncertainty. Vestas reported an April-June operating profit before one-off items of 57 million euros ($66.56 million) on Wednesday, below the 89 million expected by analysts but up from a loss of 185 million euros in the corresponding period of 2024. Sign up here. Risk from tariffs and U.S. shifts on renewables policy was offset by good order momentum in Europe, the Middle East and Africa, as well as by local production and an ability to pass on costs, the company said. Several analysts indicated that the lower-than-expected quarterly operating profit was not a major concern. The U.S. is the biggest national market after the EMEA region for Vestas, which also sells widely in Asia and is the largest wind turbine maker outside of China. The company's order intake for new wind turbines declined 44% year-on-year to 2,009 megawatts (MW) in the second quarter, but still beat an average forecast among analysts of 1,860 MW. The order intake has since rebounded, including in the U.S. where renewable developments continue despite efforts by President Donald Trump to curtail incentives for wind and solar energy, CEO Henrik Andersen told Reuters. "Already now at this time in the third quarter, we are higher in order intake ... than we were for the full order in the second quarter," Andersen said. Vestas kept its 2025 forecast unchanged for an operating profit margin before special items of 4%-7% and revenue of 18 billion to 20 billion euros, up from 17.3 billion euros in 2024. While tariffs remain an uncertainty, Vestas' local production made it less vulnerable to measures imposed by the United States, Andersen said. The company expects to pass on tariffs to customers, which will ultimately raise the price of electricity, he added. The company's shares traded down 2.3% by 1029 GMT, and are up 16% year-to-date. "There is of course some regulatory uncertainty in the U.S., but right now Trump is not interfering with setting up wind turbines. However, the future is still uncertain," Sydbank analyst Jakob Pedersen said. ($1 = 0.8564 euros) https://www.reuters.com/sustainability/climate-energy/vestas-swings-second-quarter-profit-keeps-outlook-2025-08-13/
