2025-09-30 11:44
Ukrainian Volodymyr Z. detained near Warsaw Lawyer says he is not guilty and will fight transfer to Germany German prosecutors say he will be brought before a German judge WARSAW, Sept 30 (Reuters) - A Ukrainian diver wanted by Germany over his alleged involvement in explosions in 2022 in the Nord Stream pipeline that largely severed Russian gas supplies to Europe has been detained in Poland, prosecutors and his lawyer said on Tuesday. Described by both Moscow and the West as an act of sabotage, the explosions marked a major escalation in the Ukraine conflict and squeezed energy supplies on the continent. No one has taken responsibility for the blasts and Ukraine has denied any role. Sign up here. Germany's top prosecutors' office said Polish police had acted upon a European arrest warrant for Volodymyr Z. that it had issued. SUSPECTED OF PLANTING EXPLOSIVES ON PIPELINES Its statement said the qualified diver was one of a group of people who were suspected of renting a sailing yacht in the German Baltic Sea port of Rostock and planting explosives on the pipelines, running from Russia to Germany, near the Danish island of Bornholm in September 2022. He faces accusations of conspiring to commit an explosives attack and of "anti-constitutional sabotage", the prosecutors added. Volodymyr Z.'s lawyer Tymoteusz Paprocki said he was detained in a town near Warsaw. In a statement, Paprocki said: "My client has done nothing wrong and pleads not guilty. My client has not committed any crime to the detriment of Germany." Paprocki said Volodymyr Z.'s defence would fight against his transfer to Germany, arguing that the execution of the European arrest warrant against him was inadmissible given Russia's war in Ukraine. "The attack on Nord Stream infrastructure concerns one of the pipeline's owners, Gazprom, which directly finances the military operations in Ukraine," he said. Gazprom is Russia's state gas giant. If he is extradited by Poland, Volodymyr Z. would be brought before an investigating judge with Germany's Federal Court, the German statement said. ARREST IN ITALY In August, Italian police arrested a Ukrainian man suspected of coordinating the attacks. The man, identified only as Serhii K., plans to take his fight against extradition to Italy's highest court after a lower court ordered his transfer to Germany. The blasts wrecked three out of four Nord Stream pipelines, which had become a controversial symbol of German reliance on Russian gas in the wake of Moscow's invasion of Ukraine. Russia blamed the U.S., Britain and Ukraine for the blasts, which largely cut Russian gas off from the lucrative European market. Those countries have denied involvement. Germany, Denmark, and Sweden all opened investigations into the incident, and the Swedes found traces of explosives on several objects recovered from the explosion site, confirming the blasts were deliberate acts. The Swedish and Danish investigations were closed in February without identifying any suspect. https://www.reuters.com/world/europe/ukrainian-citizen-wanted-over-nord-stream-explosions-detained-poland-rmf-reports-2025-09-30/
2025-09-30 11:43
Sept 30 (Reuters) - China's state iron ore buyer has told major steelmakers and traders to temporarily pause purchases of any dollar-denominated seaborne iron ore cargoes from BHP (BHP.AX) , opens new tab, Bloomberg News reported on Tuesday, citing people familiar with the matter. China is the world's largest iron ore consumer and buys about 75% of global seaborne iron ore, while BHP is the world's largest listed miner. State-owned iron ore buyer China Mineral Resources Group was established in 2022 as part of Beijing's efforts to bolster its pricing power in iron ore. Sign up here. Last month, BHP said that its annual profit fell to the lowest in five years as sluggish demand from China weighed on iron ore prices and flagged a cut in capital and exploration spending. Earlier this month, Bloomberg reported that CMRG had urged the country’s steel mills to suspend purchases of BHP’s Jimblebar blend fines after talks on long-term contracts faltered. Bloomberg said on Tuesday that the latest direction from CMRG was an expansion of these earlier curbs. BHP Group did not respond to a Reuters request for comment. CMRG did not immediately respond to an emailed request for comment. https://www.reuters.com/world/china/china-bans-all-bhp-iron-ore-cargoes-pricing-dispute-deepens-bloomberg-news-2025-09-30/
2025-09-30 11:37
Sept 30 (Reuters) - The TSX pegged an all-time record close on Tuesday and ended the quarter higher, as a holiday-affected market digested news about U.S. tariffs, as well as corporate news from Imperial Oil and TD Bank. The TSX (.GSPTSE) , opens new tab closed up 50.9 at 30022.81. Many Canadian companies and traders observed the National Day for Truth and Reconciliation holiday, but volume was average. Sign up here. U.S. President Donald Trump said Monday his administration would put 10% tariffs on imported timber and lumber, and 25% duties on some imported furniture and cabinets. Canada is a major exporter of wood products to the U.S. Trump also threatened 100% tariffs on foreign-made films. Canada has a large moviemaking industry tightly integrated with Hollywood. U.S. oil major Exxon Mobil (XOM.N) , opens new tab said it plans to lay off about 2,000 workers, including hundreds at Imperial Oil (IMO.TO) , opens new tab, of which it owns a majority share. Imperial fell on the news. TD Bank (TD.TO) , opens new tab hit a record share price early on Tuesday following CEO Raymond Chun's statements about his company's growth potential, its anti-money-laundering efforts, and its cost-savings focus. The financial subindex (.SPTTFS) , opens new tab rose. Michael Dehal, senior portfolio manager with Raymond James, pointed to a risk-off day in U.S. and Canadian markets, with defensive sectors strengthening at the end of the quarter. "People might be rebalancing their portfolios, taking profits on some of the high-fliers like tech," said Dehal. Traders are also watching the prospects of a U.S. government shutdown. A government closure would delay Friday's crucial U.S. employment report, potentially complicating the Federal Reserve's monetary policy outlook. Canada's benchmark index closed September and the third quarter with robust gains due to strong corporate earnings and high commodity prices, particularly gold, said Josh Sheluk, a portfolio manager at Verecan Capital Management. https://www.reuters.com/markets/europe/tsx-futures-fall-commodity-prices-dip-us-government-shutdown-looms-2025-09-30/
2025-09-30 11:34
MUMBAI, Sept 30 (Reuters) - India is expected to receive above-average rainfall in October, following above-normal precipitation in September, a senior weather department official said on Tuesday. The country is likely to receive above-average rainfall equating to more than 115% of the 50-year average in October, Mrutyunjay Mohapatra, director-general of the India Meteorological Department (IMD), told a virtual news conference. Sign up here. https://www.reuters.com/business/environment/india-faces-another-rain-heavy-month-october-says-weather-office-2025-09-30/
2025-09-30 11:32
JOHANNESBURG, Sept 30 (Reuters) - South African state-owned power utility Eskom on Tuesday reported its first full-year profit in eight years thanks to government debt relief, higher tariffs and a sharp reduction in power cuts. Eskom made profit after tax of 16.0 billion rand ($927.24 million) in the year to the end of March 2025, compared to a 55.0 billion rand loss a year earlier, its annual report showed. Sign up here. "Government debt relief support, new tariff structures, higher sales linked to the operational turnaround and cost optimisation initiatives have contributed to Eskom recording its first profit in eight years," the report said. Eskom's power cuts have held back South Africa's economic growth for more than a decade, and its repeated bailouts have drained state coffers. But the frequency of its power outages has reduced dramatically since early last year. There were just 13 days of power cuts in its latest financial year, compared to a record 329 days a year earlier. ($1 = 17.2555 rand) https://www.reuters.com/business/energy/south-africas-eskom-records-first-full-year-profit-eight-years-2025-09-30/
2025-09-30 11:24
Sept 30 (Reuters) - Exxon Mobil (XOM.N) , opens new tab will lay off 2,000 workers globally as part of a long-term restructuring plan, the U.S. energy major told Reuters in an emailed statement, adding to a wave of job cuts in the oil and gas industry this year. The layoffs represent about 3% to 4% of the company's global workforce and are part of an ongoing efficiency drive, according to Bloomberg News, which first reported the news earlier on Tuesday. Sign up here. Exxon Mobil has been streamlining its operations after closing its $60 billion purchase of Pioneer Natural Resources in 2024. In November last year, the company revealed in a filing that it would cut nearly 400 jobs in Texas. "We've seen the value of bringing people together in the same location... we are aligning our global footprint with our operating model and bringing our teams together," the company said in an emailed statement on Tuesday. On Monday, Canadian shale producer Imperial Oil (IMO.TO) , opens new tab, in which Exxon is a major shareholder, announced plans to cut 20% of its workforce and shutter business in Calgary. Global energy companies have announced thousands of job cuts this year, as the sector navigates weaker crude oil prices and a rapid consolidation. Chevron plans to lay off 15% to 20% of its global workforce, while BP has said it would cut more than 5% of its jobs and ConocoPhillips has announced it would cut 20% to 25% of its jobs. U.S. oil and gas production jobs fell by 4,700 in the first six months of this year, Texas labor market statistics showed. Activity levels in the key U.S. producing states of Texas, Louisiana and New Mexico declined slightly in the third quarter, with several industry executives reporting significant delays in investment decisions in response to price volatility, according to a survey by the Federal Reserve Bank of Dallas. Benchmark Brent crude futures are down about 10.5% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to the U.S. trade policy. Exxon employed 61,000 people globally at the end of 2024, according to a regulatory filing. https://www.reuters.com/sustainability/exxon-mobil-cut-2000-jobs-bloomberg-news-reports-2025-09-30/
