2024-10-02 20:44

Oct 2 (Reuters) - The agribusiness company Archer-Daniels-Midland (ADM.N) , opens new tab has paused injection of carbon dioxide at its Illinois carbon capture and storage (CCS) site after discovering a potential leak deep underground, the company confirmed on Wednesday. The CCS operation at ADM's Decatur facility, the first major project of its kind in the U.S., is meant to demonstrate that the technology - billed as a tool in the fight against climate change - can be deployed safely. On Sept. 24, ADM detected potential movement of brine "between different formations" at a depth of 5,000 feet, according to a Sept. 27 letter sent from the company to the Environmental Protection Agency and seen by Reuters. Environmental groups in Illinois have expressed concern that the CCS project could pose a risk to their drinking water. "We can't afford to wait for a disaster," said Pam Richart, a leader in a coalition of local groups opposed to CCS projects above the Mahomet Aquifer, which sits below the ADM site. ADM spokesperson Jackie Anderson said the incident presents no risk to surface or groundwater or to public health, and that injection had been paused at the site while the company conducts additional tests. In September, ADM confirmed that the EPA in August found that the company had violated federal safe drinking water rules by failing to follow an emergency response plan after a leak at one of the site's monitoring wells. Sign up here. https://www.reuters.com/sustainability/climate-energy/adm-pauses-co2-injection-carbon-capture-storage-site-after-finding-potential-2024-10-02/

2024-10-02 20:42

No talks scheduled in port strike Biden presses port employers, saying 'it's time' for them to bargain Strike hits shipments of everything from food to autos NEW YORK/WASHINGTON, Oct 2 (Reuters) - A strike by 45,000 dockworkers halting shipments at U.S. East Coast and Gulf Coast ports entered its second day on Wednesday with no negotiations currently scheduled between the two sides, sources told Reuters. The lack of progress is raising concerns among those reliant on shipments that the disruption could be prolonged. The International Longshoremen's Association union strike has blocked goods from food to automobile shipments across dozens of ports from Maine to Texas, which analysts warn will cost the economy billions of dollars a day. President Joe Biden’s administration has put pressure on U.S. port employers to raise their offer to secure a deal with dockworkers to end the strike. "They made incredible profits, over 800% profit since the pandemic, and the owners are making tens of millions of dollars from this," Biden told reporters on Wednesday. "It's time for them to sit at the table and get this strike done." Economists have said the strike will not initially raise consumer prices as companies accelerated shipments in recent months for key goods. However, a prolonged stoppage will eventually filter through, with food prices likely to react first, according to Morgan Stanley economists. Packaged food maker Conagra (CAG.N) , opens new tab bought ingredients ahead of time and has been working with suppliers for months to prepare for the strike, CEO Sean Connolly said on Wednesday. "If it becomes a protracted issue, it will be a bigger issue for everybody," he said. More than 38 container vessels were backed up at U.S. ports by Tuesday, compared with just three on Sunday before the strike, according to Everstream Analytics. Crock-Pot maker Newell Brands (NWL.O) , opens new tab has hundreds of containers filled with items manufactured in Asia arriving at West Coast ports this week after being re-routed from the East Coast 2-3 months ago. The company said that there is a "little bit of a backup" at West Coast ports but that they're still operating at full capacity. The ILA, which represents 45,000 port workers, launched its strike on Tuesday after negotiations collapsed with the United States Maritime Alliance (USMX) for a new six-year contract. The union is seeking a $5-per-hour wage hike each year over six years. Its leader Harold Daggett is also seeking an end to automation projects that he says threaten union jobs. "We are prepared to fight as long as necessary, to stay out on strike for whatever period of time it takes, to get the wages and protections against automation our ILA members deserve," Daggett said on Tuesday. The Biden administration wants USMX to offer a richer deal to dockworkers. Transportation Secretary Pete Buttigieg weighed in on the dispute on Wednesday. "The companies need to put forward an offer that's going to get the workers to the table," Buttigieg said. "We actually think the parties economically are not as far apart from each other as they may think." The USMX said on Wednesday that they are focused on resuming negotiations, but they "cannot agree to preconditions to return to bargaining." Biden directed his team to monitor for potential price gouging that benefits foreign ocean carriers, the White House said. He has repeatedly said he will not intervene to end the strike. Morgan Stanley economists said in a late Tuesday note that the strike could hit growth and raise inflation "but only if it is long-lasting," noting that the implication for transport should be limited unless the strike lingers. The strike, the ILA's first major stoppage since 1977, affects 36 ports - including New York, Baltimore and Houston - that handle a range of containerized goods ranging from bananas to clothing to cars. The walkout could cost the American economy roughly $5 billion a day, JP Morgan analysts estimate. BACKUP PLANS Retailers accounting for about half of all container shipping volume said they have been implementing backup plans to minimize the effect of the strike as they head into the winter holiday sales season. Isaac Larian, CEO of MGA Entertainment, which makes Bratz brand dolls, said about 10% to 15% of holiday season toys haven't been delivered to the United States yet, but otherwise inventories should be well stocked. He said he is more concerned about spring 2025, as products need to be shipped in November or December, dates that would be endangered if the strike lingers. The National Retail Federation on Wednesday, along with 272 other trade associations, called on Biden's administration to use its federal authority to halt the strike, saying the walkout could have "devastating consequences" for the economy. Sign up here. https://www.reuters.com/world/us/white-house-sides-with-union-dockworker-strike-enters-second-day-2024-10-02/

2024-10-02 20:27

MANAUS, Brazil, Oct 2 (Reuters) - Francisco Mateus da Silva, 67, spent an hour walking across sandbanks and dry riverbeds where he lives in the Amazon to fetch food and water amid the worst drought on record in the region, which has paralyzed river transportation. "It's very difficult for us because we are used to traveling here on the river. The river is our street, and without water we can't even leave. We are practically isolated," Silva told Reuters. The state of Amazonas has 62 municipalities in a state of emergency because of the drought, and the smaller, neighboring state of Acre, another 21. Around 70% of all cities in the region are affected by the drought, almost 300 under severe or extreme conditions, according to Cemaden, the federal government's national center for monitoring natural disasters. Silva said the drought this year and last year "were very severe and left a lot of damage." Elineide Rodrigues also lives in the same community, Sao Francisco do Maina, between the Amazon River and the Puraquequara lagoon, not far from Manaus, the state capital. Normally, she would cross the lagoon by boat to go shopping in the capital but now that the lagoon has been reduced to mere centimeters of water, she must walk the path. "Our biggest problem is getting around so we can do our shopping, so the students can get to school. We have to walk kilometers these days," she said. The Negro River, main access to Manaus, is already 20 centimeters (8 inches) from the record low it reached last year, which is already affecting the access to supplies in the city and the communities around it. Sign up here. https://www.reuters.com/business/environment/extreme-drought-isolates-amazon-communities-brazil-2024-10-02/

2024-10-02 20:23

WASHINGTON, Oct 2 (Reuters) - U.S. President Joe Biden said on Wednesday he would not support any Israeli strike on Iran's nuclear sites in response to its ballistic missile attack and urged Israel to act "proportionally" against its regional arch-foe. Biden spoke a day after Iran fired more than 180 missiles at Israel, an operation he previously described as "ineffective." Israeli Prime Minister Benjamin Netanyahu vowed Iran would pay for the attack. "We'll be discussing with the Israelis what they're going to do, but all seven of us (G7 nations) agree that they have a right to respond but they should respond proportionally," Biden told reporters before boarding Air Force One. Some analysts said Israel's response would likely be sharper than when Iran launched missiles and drones at Israel in April, suggesting this time it could target Tehran's nuclear or oil facilities. Other experts expected the U.S. to try again to moderate Israel's response in an effort to avoid a regional war. Asked whether he would back Israel striking Iranian nuclear sites as it has long threatened, Biden told reporters: "The answer is no." Biden said more sanctions would be imposed on Iran and he would speak soon with Netanyahu. "Obviously, Iran is way off course," he said. Israeli officials have told U.S. counterparts they are still finalizing targets, timing and means for a response to Iran's missile attack, according to a person in Washington familiar with the discussions. Israel may not feel compelled to strike back immediately, given its success in thwarting the Iranian attack. But it is unlikely to wait for long out of concern a retaliatory move would lose effectiveness as a deterrent if delayed, the U.S. source said. Unlike in the aftermath of the Iran’s April attack, the U.S. is not pressing Israel to refrain from retaliation but wants Israel to carefully consider potential consequences first, the source said. Iran's missile attack escalated tensions in the region, where the Biden administration has for months led intense negotiations on a ceasefire in the nearly year-old Israel-Hamas war in Gaza and regularly predicted one was imminent. Biden, in the waning months of his term, already faces sharp criticism at home and abroad for staunch U.S. military support of Israel, as does his vice president and the Democrats' presidential candidate, Kamala Harris. 'KNIFE'S EDGE' At a virtual event hosted by Washington-based think tank Carnegie Endowment on Wednesday, U.S. Deputy Secretary of State Kurt Campbell repeated the U.S. view that Tehran's move was "deeply irresponsible" and there must be a "return message." But with the Middle East on a "knife's edge," the U.S. is concerned about "an even broader escalation" that could imperil both Israeli and U.S. strategic interests, he said. "I think we tried to underscore our support for some of the actions that Israel has taken," he added. "We have real wariness about a extended or substantial ground set of operations in Lebanon." Netanyahu has not always heeded the Biden administration's advice in the current Middle East conflict. The Israeli army is locked in combat at its northern border with Lebanon's Iran-backed Hezbollah fighters. On Wednesday, eight Israeli soldiers were killed -- the deadliest day for Israel's military on the Lebanon front in the past year of border-area clashes between Israel and Hezbollah. Iran said on Wednesday its missile volley - its biggest ever assault on Israel - was over, barring further provocation. Israel has long considered Iran's nuclear program an existential threat, though Tehran has insisted it is not seeking a nuclear weapon. Iran's nuclear facilities are spread over many locations, some of them deep underground. Iran agreed to restrictions on its nuclear activities under a U.S.-led international deal in 2015. That pact fell apart after then-President Donald Trump pulled the U.S. out in 2018. Iran has been expanding its uranium enrichment program ever since, reducing the so-called "breakout time" it would need to produce enough weapons-grade uranium for a nuclear bomb to a matter of weeks from at least a year under the 2015 accord. Sign up here. https://www.reuters.com/world/middle-east/biden-says-he-does-not-support-attack-irans-nuclear-sites-2024-10-02/

2024-10-02 20:18

Biden, Harris assess Hurricane Helene's devastation in US Southeast Over $10 million provided to those affected, White House says Federal funding may fall short if another hurricane hits, Mayorkas warns RALEIGH, North Carolina, Oct 2 (Reuters) - President Joe Biden and Vice President Kamala Harris visited South Carolina, North Carolina and Georgia on Wednesday to see first hand the devastation wrought in the U.S. Southeast by Hurricane Helene, which has killed at least 160 people. Biden landed in Greer, South Carolina, where he was met by South Carolina Governor Henry McMaster, U.S. Senator Lindsey Graham and North Carolina Governor Roy Cooper, among others, before boarding Marine One for an aerial tour of the region. From the helicopter, Biden could see the grim devastation brought to parts of North Carolina, including Asheville and Chimney Rock. Over the Asheville metropolitan area, homes were smashed to bits, with the damage greatest near rivers, reporters in a trailing helicopter observed. Many of the people living in the area remained cut off from contact with the outside world, even as the U.S. president passed overhead. In Asheville's River Arts District, set alongside the French Broad River, the receding floodwaters left behind chaos. Rescuers continue to scour the state's mountains for survivors. "You can see homes that have moved clearly from one side of the river down the river to another side," Biden said in Raleigh, North Carolina, before an operational briefing. "And I can only imagine what it's like to have been in one of those homes." "It's going to cost billions of dollars to deal with this storm and all the communities affected," Biden said. Harris, meanwhile, was briefed in Augusta, Georgia, alongside Georgia Senator Jon Ossoff and Representative Rick Allen. She joined Augusta Mayor Garnett Johnson to survey the city's Meadowbrook neighborhood. "There is real pain and trauma that has resulted because of this hurricane and what has happened in terms of the aftermath of it," Harris said, adding that she had spoken with a community member whose daughter lost her husband. "We are here for the long haul," Harris said. "There's a lot of work that's going to happen." Rebuilding will be extremely costly and take years, U.S. officials say. FEMA, NATIONAL GUARD DEPLOYED Former President Donald Trump, a Republican running against Harris in this year's presidential election, has falsely claimed that Biden, a Democrat, has been unresponsive to the hurricane's destruction, an allegation local officials deny. "In a moment like this, we put politics aside," Biden said in Raleigh. "There are no Democrats, Republicans, there are only Americans. And our job is to help as many people as we can, as quickly as we can and as thoroughly as we can." Before leaving Washington, Biden directed up to 1,000 active-duty troops to help with response and recovery efforts. Almost 6,000 members of the National Guard are deployed across the six states affected by the storm, Homeland Security Secretary Alejandro Mayorkas said. Search-and-rescue teams have conducted nearly 1,500 structural evaluations and hundreds of rescues and evacuations, Mayorkas said. Biden also approved on Wednesday requests from Georgia Governor Brian Kemp and North Carolina's Cooper for federal funds for debris removal and emergency protective measures for three months and six months, respectively. Biden will head to Georgia and Florida on Thursday, White House spokesperson Karine Jean-Pierre said. Harris will travel to North Carolina in the coming days. More than $10 million has been provided directly to those affected by the storm, Jean-Pierre said. Over 4,800 personnel from across the federal workforce have been deployed to help in recovery efforts, along with 8.8 million meals, more than 7.4 million liters of water and 150 emergency power generators, said Mayorkas. Still, the Homeland Security secretary said federal funding may not be enough should another hurricane hit. "We are meeting the moment, but that doesn't speak about the future," Mayorkas said. "We are expecting another hurricane hitting. ... FEMA does not have the funds to make it through the season." POTENTIAL ELECTION EFFECTS North Carolina and Georgia are among seven key battleground states in the Nov. 5 election, which is expected to be won by thin margins. Harris now leads Trump by 2.6 percentage points in national opinion polls, according to aggregator FiveThirtyEight. North Carolina election officials are scrambling to make sure the state's over 7 million registered voters can cast a ballot in federal, state and local elections. Earlier this week, Trump visited Georgia. Presidents and presidential candidates usually do not visit a storm-hit region immediately because of fears they will distract from rescue efforts and divert resources from local law enforcement officials and emergency responders. Hurricane Helene slammed into Florida on Thursday as a powerful Category 4 hurricane before tearing a destructive path through Southeastern states for several days. Sign up here. https://www.reuters.com/world/us/biden-harris-tour-helene-damage-north-south-carolina-georgia-2024-10-02/

2024-10-02 20:08

Roughly 8000 celeb-bait scams taken down from Facebook, Instagram Australia plans new anti-scam law with hefty fines for firms that don't take action Meta is being sued by mining billionaire Forrest over scam ads SYDNEY, Oct 2 (Reuters) - Meta (META.O) , opens new tab said it has taken down some 8,000 so-called "celeb bait" scam ads from Facebook and Instagram as part of a new effort with Australian banks to curb the practice. The scams use images of famous people, often generated by artificial intelligence, to trick consumers into giving money to non-existent investment schemes. The U.S. social media giant said it took down the scam ads after receiving 102 reports since April from the Australian Financial Crimes Exchange, an intelligence-sharing body run by the country's main banks. Such scams are a global problem, but Meta is under heightened pressure to tackle the issue in Australia with Prime Minister Anthony Albanese's government planning to introduce an anti-scam law by the end of the year. The bill proposes A$50 million ($34 million) fines for social media, financial and telecommunications companies which fail to meet their obligations to crack down on the practice. A public consultation closes on Oct. 4. Australian scam reports jumped by nearly one-fifth in 2023, with losses totalling A$2.7 billion, according to the Australian Competition and Consumer Commission. The commission accused Meta in a 2022 lawsuit of failing to stop the dissemination of cryptocurrency advertisements that used images of celebrities like Mel Gibson, Russell Crowe and Nicole Kidman. It estimated that 58% of cryptocurrency advertisements on Facebook were possible scams. Meta is fighting the lawsuit which is yet to go to hearings. The company is also defending a separate civil lawsuit in California brought by Australian mining billionaire Andrew Forrest who accuses Meta of enabling the publication of thousands of bogus cryptocurrency advertisements on Facebook displaying his face. Forrest says Australians continue to lose money to the scams that he began warning Meta about in 2019. David Agranovich, Meta's director of threat disruption, told a media briefing that the effort with Australian banks was still in its early stages. "What we find promising is that a small amount of high-value signals can help us identify much wider fraud and scam activity," he said, referring to indications within ads about potentially inauthentic content. Asked about Meta's view on Australia's proposed anti-scam code, Agranovich said the company was still working through the draft legislation. "I expect we'll have more to share specifically on that later," he added. Rhonda Luo, head of strategy and engagement at the Australian Financial Crimes Exchange said industry initiatives "are really important to get ahead of the curve on scams, rather than wait for regulation to come in and have effect". ($1 = 1.4535 Australian dollars) Sign up here. https://www.reuters.com/technology/meta-australian-banks-tout-progress-taking-down-celeb-bait-scam-ads-2024-10-02/