2025-12-21 01:58
Dec 21 (Reuters) - Power was restored for about 110,000 customers in San Francisco after a sizable part of the city was hit by an outage on Saturday, according to the city's emergency management department and its main utility firm, Pacific Gas and Electric Company. The blackout affected about 130,000 residents in the California city of around 800,000 people, PG&E (PCG.N) , opens new tab said. Sign up here. "Crews restored about 110,000 customers by 7:30 a.m. Sunday and are working to restore the power for around 21,000 who remain without electric service," the utility said, adding that there were no injuries to workers or members of the public. The energy provider expects to restore all remaining impacted customers by no later than 2 p.m. PT (2200 GMT), it added in an update. The outage caused traffic jams and forced some businesses to close temporarily. "A large power outage is impacting San Francisco - only call 9-1-1 for life safety emergencies, avoid non-essential travel, treat down traffic signals as four-way stops, keep refrigerator and freezer doors closed, and turn off major appliances to prevent surges," the San Francisco Department of Emergency Management said in a post on social media earlier on Sunday. Separately, Tesla (TSLA.O) , opens new tab CEO Elon Musk said on Sunday the company's robotaxis were unaffected by the outage. https://www.reuters.com/business/energy/major-power-outage-hits-san-francisco-2025-12-21/
2025-12-20 20:46
MILAN, Dec 20 (Reuters) - The new package of measures for the auto industry proposed earlier this week by the European Union puts at risk manufacturers' investments in the region, Stellantis (STLAM.MI) , opens new tab CEO Antonio Filosa told the Financial Times in an interview on Saturday. The European Commission unveiled a plan on Tuesday which includes dropping the EU's effective ban on new combustion-engine cars from 2035, a move that has left automakers divided. Sign up here. "There are none of the urgent measures needed to return the European automotive sector to growth," Filosa told the FT. "Without growth, it becomes very difficult to think about investing more," he added. Filosa said that without additional investments, it was difficult to build the resilient supply chain that is vital for European jobs, European prosperity and European security. In an official statement published after the EU proposals, Stellantis said the EU proposals failed to address key challenges, including a roadmap for light commercial vehicles and flexibility on 2030 targets for passenger cars. https://www.reuters.com/sustainability/climate-energy/stellantis-ceo-says-investments-risk-europe-after-eu-auto-package-2025-12-20/
2025-12-20 17:57
US intercepts vessel amid military build-up near Venezuela Venezuelan crude exports fall sharply after US tanker seizure Captured vessel believed to be part of Venezuela's "dark" fleet of tankers Maduro claims US aims to overthrow him and control Venezuela's oil reserves Dec 20 (Reuters) - The United States has intercepted an oil tanker off the coast of Venezuela in international waters, U.S. Homeland Security Secretary Kristi Noem confirmed Saturday, a move that comes just days after U.S. President Donald Trump announced a "blockade" of all sanctioned oil tankers entering and leaving Venezuela. It’s the second time in recent weeks that the United States has gone after a tanker near Venezuela amid a large U.S. military build-up in the region. Sign up here. Noem confirmed the Coast Guard intercepted a tanker that was last docked in Venezuela. "The United States will continue to pursue the illicit movement of sanctioned oil that is used to fund narco terrorism in the region," she said in a statement posted to social media. "We will find you, and we will stop you." Three U.S. officials earlier Saturday had told Reuters that the vessel had been intercepted. The Coast Guard and Pentagon referred questions to the White House. White House spokeswoman Anna Kelly said the tanker contained sanctioned oil. "It was a falsely flagged vessel operating as part of the Venezuelan shadow fleet to traffic stolen oil and fund the narcoterrorist Maduro regime," she wrote on X. Venezuela's oil ministry and state oil company PDVSA did not immediately reply to requests for comment. The Venezuelan government called the tanker interception a "serious act of international piracy." Venezuela "denounces and rejects the theft and hijacking of a new private vessel transporting oil, as well as the forced disappearance of its crew, committed by military personnel of the United States of America in international waters," the statement said. Caracas said the actions will be reported to the United Nations Security Council, other multilateral organizations and governments. British maritime risk management company Vanguard said the vessel was believed to be the Panama-flagged Centuries, which was intercepted east of Barbados in the Caribbean Sea. Jeremy Paner, a partner at Washington, D.C., law firm Hughes Hubbard and a former OFAC investigator, said the vessel has not been sanctioned by the U.S. "The seizure of a vessel that is not sanctioned by the U.S. marks a further increase in Trump’s pressure on Venezuela," Paner said. "It also runs counter to Trump’s statement that the U.S. would impose a blockade of all sanctioned oil tankers." TRUMP CALLS FOR 'COMPLETE BLOCKADE' Trump on Tuesday said he was ordering "A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela." In the days since U.S. forces seized a sanctioned oil tanker off the coast of Venezuela last week, there has been an effective embargo in place, with loaded vessels carrying millions of barrels of oil staying in Venezuelan waters rather than risk seizure. Since the first seizure, Venezuelan crude exports have fallen sharply. While many vessels picking up oil in Venezuela are under sanctions, others transporting the country's oil and crude from Iran and Russia have not been sanctioned, and some companies, particularly the U.S.' Chevron (CVX.N) , opens new tab, transport Venezuelan oil in their own authorized ships. China is the biggest buyer of Venezuelan crude, which accounts for roughly 4% of its imports, with shipments in December on track to average more than 600,000 barrels per day, analysts have said. For now, the oil market is well supplied and there are millions of barrels of oil on tankers off the coast of China waiting to offload. If the embargo stays in place for some time, then the loss of nearly a million barrels a day of crude supply is likely to push oil prices higher. Since the U.S. imposed energy sanctions on Venezuela in 2019, traders and refiners buying Venezuelan oil have resorted to a "shadow fleet" of tankers that disguise their location and to vessels sanctioned for transporting Iranian or Russian oil. The dark or shadow fleet is considered exposed to possible punitive measures from the U.S., shipping analysts have said. Centuries, which loaded in Venezuela under the false name "Crag" and is part of the dark fleet, was carrying some 1.8 million barrels of Venezuelan Merey crude oil bound for China, according to internal documents from state oil company PDVSA, the oil's seller. The vessel departed Venezuelan waters on Wednesday after being briefly escorted by the Venezuelan navy, according to company sources and satellite images obtained by TankerTrackers.com. The crude was bought by Satau Tijana Oil Trading, one of many intermediaries involved in PDVSA's sales to Chinese independent refiners, the documents showed. As of this week, of more than 70 oil tankers in Venezuelan waters that are part of the shadow fleet, around 38 are under sanctions by the U.S. Treasury, according to data from TankerTrackers.com. Of those, at least 15 are loaded with crude and fuel, it added. Trump's pressure campaign on Venezuela's President Nicolas Maduro has included a ramped-up military presence in the region and more than two dozen military strikes on vessels in the Pacific Ocean and Caribbean Sea near Venezuela, which have killed at least 100 people. Trump has also said that U.S. land strikes on the South American country will soon start. Venezuela's Maduro has alleged that the U.S. military build-up is aimed at overthrowing him and gaining control of the OPEC nation's oil resources, which are the world's largest crude reserves. https://www.reuters.com/world/americas/us-interdicting-sanctioned-vessel-off-venezuelan-coast-officials-say-2025-12-20/
2025-12-20 07:48
KYIV, Dec 20 (Reuters) - Ukraine said its drones struck a Russian oil rig belonging to Lukoil (LKOH.MM) , opens new tab in the Caspian Sea and a military patrol ship near a rig as Kyiv steps up attacks on Moscow's oil infrastructure. The attack, which Ukraine's general staff said took place on Friday, is one of a string of strikes targeting Russian drilling infrastructure in the Caspian Sea in recent weeks, but the first one that the Ukrainian military acknowledged officially. Sign up here. A drilling platform of the Filanovsky oil rig was damaged in the attack, according to the Ukrainian military. The rig came under drone attacks at least two more times in December. Reuters was not able to confirm the report. Lukoil was not available for immediate comment. Ukraine says that Russian oil infrastructure is a legitimate target since the trade revenue is Russia's main source for financing its almost four-year-old full-on war against the country. The general staff added that a military patrol ship was targeted in the strike as well, and the level of damage was being assessed. Ukraine has been attacking Russian oil refineries throughout 2024 and 2025, but has visibly widened its campaign in recent weeks, claiming credit for sea-drone attacks on Russian shadow fleet tankers in the Black Sea and Mediterranean. https://www.reuters.com/business/energy/ukraine-says-it-hit-russian-oil-rig-patrol-ship-caspian-sea-2025-12-20/
2025-12-20 00:59
Dec 19 (Reuters) - The United States Department of Agriculture on Friday confirmed that a case of highly pathogenic avian influenza in a Wisconsin dairy herd marked a new spillover event from wildlife to cattle, separate from previous outbreaks. The virus, identified as H5N1 clade 2.3.4.4b genotype D1.1., was confirmed through whole genome sequencing by the National Veterinary Services Laboratories on December 17, USDA’s Animal and Plant Health Inspection Service said in a statement. Sign up here. It said most detections of highly pathogenic avian influenza in U.S. dairy herds have resulted from movements linked to an original spillover event that occurred in Texas in late 2023, involving the B3.13 strain. Earlier this year, two isolated spillovers were detected in Nevada and Arizona, involving the D1.1 strain. The Wisconsin case, detected under USDA's National Milk Testing Strategy, has not led to additional herd infections, APHIS said. USDA said the findings do not pose a risk to consumer health or the commercial milk supply, as pasteurization kills the virus and milk from affected animals is diverted or destroyed. It added that the Centers for Disease Control and Prevention continues to consider the risk to the public to be low. USDA urged dairy producers to maintain strict biosecurity and report any livestock showing clinical signs or unusual wildlife deaths. A bipartisan group of U.S. senators last week urged the administration of President Donald Trump to finalize a science-based plan for developing a bird flu vaccine for livestock, according to a letter seen by Reuters. https://www.reuters.com/business/healthcare-pharmaceuticals/usda-confirms-bird-flu-case-wisconsin-dairy-herd-new-wildlife-spillover-2025-12-20/
2025-12-19 23:56
Nike slides as Q2 gross margins drop Micron Technology continues rally Stocks volatile on triple witching day Indexes end up: Dow 0.38%, S&P 0.88%, Nasdaq 1.31% Dec 19 (Reuters) - U.S. stocks closed higher on Friday after a rocky start to the week, as a rebound in technology shares offset tumbling consumer stocks such as Nike. Megacaps extended gains from Thursday, when chipmaker Micron Technology's (MU.O) , opens new tab strong forecasts re-ignited optimism around AI-related shares, which had recently come under pressure over lofty valuations and funding concerns. Sign up here. Micron reached a record closing high on Friday, ending the day up 7%. Nvidia (NVDA.O) , opens new tab rose 3.9% as the U.S. launched a review that of Nvidia's second-most powerful AI chip. Meanwhile, Oracle (ORCL.N) , opens new tab jumped 6.6% after TikTok's Chinese owner, ByteDance, signed b of the short-form video app's U.S. operations to a group of investors, including the cloud computing giant. "Tech in general, particularly the AI-related companies, came under a fair amount of pressure and when Micron reported [on Wednesday] and the market reacted the way that it did, there’s the idea that maybe people can come back to these [stocks]," said Thomas Martin, senior portfolio manager at Globalt Investments. December has also traditionally been a strong period for stock markets. Since 1950, the so-called Santa Claus rally has been reflected by the S&P 500 rising by an average of 1.3% over the last five trading days of the year and the first two trading days in January, according to the Stock Trader's Almanac. The Dow Jones Industrial Average (.DJI) , opens new tab rose 183.04 points, or 0.38%, to 48,134.89, the S&P 500 (.SPX) , opens new tab gained 59.74 points, or 0.88%, to 6,834.50 and the Nasdaq Composite (.IXIC) , opens new tab gained 301.26 points, or 1.31%, to 23,307.62. For the week, the S&P gained 0.11% and the Nasdaq rose 0.48%. Meanwhile, the Dow fell 0.67%. Seven of the S&P 500 sectors closed higher on Friday, while utilities (.SPLRCU) , opens new tab and consumer staples (.SPLRCS) , opens new tab stocks lost 1.34% and 0.49%, respectively. In consumer names, Nike (NKE.N) , opens new tab shares slumped 10.5% after the sportswear giant reported a drop in gross margins for the second consecutive quarter, hurt by poor sales in China and efforts to reset its product mix. Lamb Weston (LW.N) , opens new tab plunged nearly 26% after the supplier of frozen French fries signaled muted demand for its products for the rest of the fiscal year. Conagra (CAG.N) , opens new tab fell 2.5% after the Slim Jim meat snacks maker reported weak earnings. Investors drew comfort from U.S. consumer prices rising less than expected in November, but some analysts flagged that the print could be distorted due to the 43-day government shutdown that prevented the collection of October data. Traders continued to bet on at least two 25-basis-point interest rate cuts next year from the Federal Reserve, according to LSEG data, while assigning a 20% chance to the first reduction as early as January. Analysts warned of higher volatility on Friday due to "triple witching," which is the quarterly, simultaneous expiration of stock options, stock index futures and stock index options contracts. "The oversold bounce is helping and the options expiration is helping to kind of clear out some of those positions," said Brent Kochuba, founder of analytics service SpotGamma. However, he noted that the options expiration could leave the market more vulnerable to price swings after the Christmas holiday. Advancing issues outnumbered decliners by a 1.44-to-1 ratio on the NYSE. There were 269 new highs and 72 new lows on the NYSE. On the Nasdaq, 2,781 stocks rose and 1,890 fell as advancing issues outnumbered decliners by a 1.47-to-1 ratio. The S&P 500 posted 16 new 52-week highs and five new lows while the Nasdaq Composite recorded 85 new highs and 158 new lows. Volume on U.S. exchanges was 24.60 billion shares, compared with the 17.19 billion average for the full session over the last 20 trading days. https://www.reuters.com/world/china/futures-edge-higher-tech-rebound-nike-slumps-china-pain-2025-12-19/
