2025-11-21 22:21
WASHINGTON, Nov 21 (Reuters) - U.S. President Donald Trump and New York City Mayor-elect Zohran Mamdani agreed on Friday that New York-based utility Con Edison (ED.N) , opens new tab needed to lower its rates. In a White House meeting, the Republican president and the incoming democratic socialist mayor discussed cost-of-living concerns. Sign up here. "We are going to have to talk to them (Con Edison)," Trump said. "We have to get Con Edison to start lowering the rates." "Absolutely," replied Mamdani. The issue of inflation and affordability was a successful core campaign issue for both men in their recent elections. When asked for a comment, the company said: "We welcome the opportunity to partner with the Mayor-elect on solutions that make New York affordable for everyone." Con Edison also said it recognized that "affordability is a critical issue." Trump gave Mamdani a warm welcome at the White House in their first-ever meeting. The two men have been very critical of each other in the past and have clashed on a range of domestic and foreign policy issues like immigration, public safety and U.S. support for Israel's assault on Gaza. https://www.reuters.com/world/us/trump-mamdani-say-ny-utility-con-edison-needs-cut-rates-2025-11-21/
2025-11-21 22:11
SAO PAULO, Nov 21 (Reuters) - The Brazilian central bank said on Friday it will offer up to $2 billion in two dollar auctions with repurchase agreements on Monday morning. In a statement, the central bank said the simultaneous auctions will start at 10:30 a.m. local time, and aim to roll over contracts maturing in January. Sign up here. The repurchases for the new auctions are set for April 2 and May 5, according to the monetary authority. By conducting roll-over auctions, the central bank guarantees liquidity in the currency market and prevents additional demand for U.S. dollars from pressuring the Brazilian real. https://www.reuters.com/world/americas/brazil-cenbank-offer-2-billion-dollar-auctions-with-repurchase-deal-monday-2025-11-21/
2025-11-21 21:58
KINGSTON, Nov 21 - Jamaica has declared an outbreak of the bacterial disease leptospirosis, suspected of causing six deaths, following the devastation from Hurricane Melissa in late October. The Category 5 hurricane slammed into the Caribbean island on October 28, causing catastrophic flooding and landslides with some 30 inches (76 cm) of rain. The resulting stagnant, contaminated water has created a breeding ground for the disease, officials said. Sign up here. Health Minister Christopher Tufton announced on Friday that nine cases were confirmed between October 30 and November 20, with 28 additional suspected cases. Leptospirosis is spread through water or soil contaminated by the urine of infected animals, such as rodents. The infection can enter the human body through cuts in the skin or through the eyes, nose and mouth. While initial symptoms such as fever, headache and muscle aches can be mistaken for the flu, the disease can progress to a severe and potentially fatal form. It can cause kidney failure, liver damage, meningitis and severe internal bleeding. "The outbreak follows the passage of the storm which has created conditions that have increased the risk of exposure to contaminated water and soil," Tufton said at a press conference. He warned that anyone coming into contact with floodwaters could be at risk, including "farmers, persons engaged in cleanup activities, emergency responders and others navigating flood areas." Hurricane Melissa left an estimated $10 billion in damages, according to Jamaican officials, hobbling the nation's key tourism and agriculture sectors and damaging nearly 200,000 buildings. https://www.reuters.com/business/environment/jamaica-reports-deadly-leptospirosis-outbreak-after-hurricane-melissa-2025-11-21/
2025-11-21 21:51
TORONTO/DAKAR, Nov 21 (Reuters) - Barrick Mining (ABX.TO) , opens new tab and Mali's government have reached a verbal agreement in principle to resolve their dispute over the Loulo-Gounkoto gold mining complex, two sources familiar with the situation told Reuters on Friday. No agreement has yet been signed, the sources said. Sign up here. A spokesperson for Barrick Mining did not immediately respond to a request for comment. A spokesperson for Mali's mines ministry said negotiations were progressing well but did not provide further details. The two sides have been in a dispute since 2023 over the implementation of a new Mali mining code that raises taxes and gives the government a greater share of gold mines. They met for talks on Friday, a week after Barrick's interim CEO Mark Hill wrote a letter to Mali's administration asking to restart negotiations, one of the sources said. The talks included a renewal of Barrick's mine license, which expires in February 2026, for an additional 10 years. They also discussed the release of four Barrick employees arrested in Mali, the return of 3 metric tons of gold that were seized by Mali officials, and the dropping of arbitration proceedings initiated by Barrick against Mali, the source said. Barrick suspended operations at the massive Loulo-Gounkoto complex in January. A Malian court in June appointed a provisional administrator to restart operations, although blasting did not begin until October. https://www.reuters.com/world/africa/barrick-mining-mali-restart-talks-loulo-gounkoto-mining-complex-sources-say-2025-11-21/
2025-11-21 21:41
HOUSTON, Nov 21 (Reuters) - Exxon Mobil (XOM.N) , opens new tab has paused plans to build what would be one of the world's largest hydrogen production facilities due to weak customer demand, CEO Darren Woods told Reuters in an interview on Friday. The suspension of the project, which had already experienced delays, reflects a wider slowdown in efforts by traditional oil and gas firms to transition to cleaner energy sources as many of the initiatives struggle to turn a profit. Sign up here. U.S. President Donald Trump had also yanked funding for green initiatives to focus on fossil fuels. Oil major Exxon announced plans in 2022 to build the plant at its refining and chemical complex in Baytown, Texas, with a goal of producing 1 billion cubic feet per day of so-called blue hydrogen, a clean fuel that produces water when burned. Potential customers have stayed on the sidelines due to the higher cost of using hydrogen, Woods said, adding that an industrial slowdown and economic uncertainty in Europe have further crimped demand. "There's been a continued challenge to establish committed customers who are willing to provide contracts for off-take," Woods said. Hydrogen can be produced from natural gas and Exxon planned to capture the carbon dioxide generated from the process and store it underground. That carries a higher cost than hydrogen produced without containing the carbon dioxide, and not enough customers are currently willing to pay the premium, Woods said. Exxon and its partners on the facility, including Abu Dhabi National Oil Company, have invested about $500 million so far into the project that is estimated to cost several billion dollars, he said, declining to give a precise figure. Exxon can restart the project when there is enough market demand, Woods added, though it is unclear when that could be. "We remain convinced that one, it will be needed, and two, this will be an advantaged project to meet that need," Woods said. https://www.reuters.com/sustainability/climate-energy/exxon-freezes-plans-major-hydrogen-plant-amid-weak-customer-demand-2025-11-21/
2025-11-21 21:39
Tyson shutting Nebraska plant with 3,200 employees Closure will hit city of about 10,000 residents Tight cattle supplies raise costs for US meatpackers CHICAGO, Nov 21 (Reuters) - Tyson Foods (TSN.N) , opens new tab will close a major beef plant in Lexington, Nebraska, with about 3,200 employees in January after U.S. cattle supplies dropped to their lowest level in nearly 75 years, the meatpacker said on Friday. The closure in the heart of cattle-feeding country signaled that supplies will remain tight, forcing meatpackers to pay steep prices for cattle to process into steaks and hamburgers. Sign up here. Beef prices have set records due to low supplies and strong demand, raising costs for consumers. President Donald Trump said last month that he was working to bring down prices. Tyson said it will also reduce operations at a beef plant in Amarillo, Texas, to a single, full-capacity shift, affecting about 1,700 workers. "Tyson Foods recognizes the impact these decisions have on team members and the communities where we operate," the company said in a statement. Tyson said the changes were expected around January 20 and that it will increase production at other facilities to meet customer demand. BEEF BUSINESS LOSES BIG Beef prices soared this year as cattle supplies dwindled and meatpackers increasingly competed for limited supplies of livestock. Ranchers slashed their herds after a years-long drought burned up pasture lands and hiked feeding costs. Some have slowly started to rebuild their herds, though it takes at least two years to raise full-grown cattle. Tyson's beef business suffered adjusted losses of $426 million in the 12 months ended on September 27 and $291 million over the previous year. The meatpacker projected the unit will lose $400 million to $600 million in the 2026 fiscal year. "We all expected a plant to be closed at some point in 2026," said Rich Nelson, chief strategist for Allendale. "I'm a little surprised they're doing it preemptively." Losses in Tyson's beef business were a turnaround from the fat profits it and other processors reaped during the COVID-19 pandemic, when meat prices soared as infections among plant workers slowed output. CLOSURE THREATENS LOCAL ECONOMY The Lexington plant can process roughly 5,000 cattle per day, or about 5% of total U.S. slaughtering, but it has already been operating below capacity, said Matt Wiegand, commodity broker for FuturesOne in Nebraska. Its closure will shock the city of about 10,000 residents and hurt local feedyards that fatten cattle, he said. "Tyson's announcement will have a devastating impact," said U.S. Senator Deb Fischer of Nebraska. "It's no secret that just a few years ago, packers like Tyson were making windfall profits while the rest of the industry was continuously in the red." In Amarillo, Tyson's plant can slaughter roughly 6,000 cattle per day, according to industry estimates. The White House had no immediate comment. Trump has sought to boost beef imports from countries such as Argentina to ease prices for U.S. consumers, angering American ranchers. On Thursday, he removed 40% tariffs he had imposed this summer on Brazilian food products that slowed imports of beef used to make hamburger meat. Trump has also accused meatpacking companies of driving up U.S. beef prices through manipulation and collusion, and ordered the Justice Department to investigate. https://www.reuters.com/business/tyson-foods-close-us-beef-plant-cattle-supplies-dwindle-2025-11-21/
