2024-04-13 21:05
April 13 (Reuters) - Bitcoin fell 7.9% to $61,842 at 21:00 GMT on Saturday, losing $5,308 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 16.2% from the year's high of $73,794 on March 14. Ether, the coin linked to the ethereum blockchain network, fell 9.18% to $2,930 on Saturday, losing $296.1 from its previous close. The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up here. https://www.reuters.com/technology/bitcoin-down-by-71-62346-2024-04-13/
2024-04-13 20:30
KYIV, April 13 (Reuters) - Safety at the Russian-held Zaporizhzhia nuclear power plant in Ukraine remains precarious but the shift to a cold shutdown of all six reactor units, completed on Saturday, is positive, the U.N. nuclear watchdog chief said in a statement. Drones attacked Zaporizhzhia, Europe's biggest nuclear power plant, on Sunday, hitting a reactor building in the worst such incident since November 2022, though nuclear safety was not compromised, the International Atomic Energy Agency (IAEA) has said. IAEA Director General Rafael Grossi said that with the end of the winter heating season in nearby Enerhodar, where most plant staff live, unit 4 had been moved from hot shutdown on Saturday, bringing "all six reactor units" to cold shutdown for the first time since late 2022. "I welcome this development which has been recommended by the Agency for some time, as it enhances the overall safety of the facility," Grossi's statement said. Cold shutdown allows for an "additional response margin of several days before the cooling of the nuclear fuel in the reactor might be challenged," he added. The reactor would also need less cooling water than in hot shutdown, he said, an issue that grew more challenging following the destruction of the Kakhovka Dam in June. However Grossi said the situation at the nuclear plant remained "extremely fragile," noting a team of IAEA experts had heard 16 rounds of outgoing artillery fire in less than half an hour on Saturday, and several drone strikes had targeted the facility over the past week. The cold shutdown did not address the "fundamental issue of a recent sharp deterioration of the situation at the plant," he said. "Without a doubt, nuclear safety and security at this major nuclear facility remains very precarious." Moscow and Kyiv have repeatedly accused one another of targeting the plant since Russia seized it weeks after it invaded Ukraine. Both countries requested an emergency meeting of the IAEA's Board soon after Sunday's attack. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/europe/iaea-chief-welcomes-cold-shutdown-all-zaporizhzhia-nuclear-plant-reactor-units-2024-04-13/
2024-04-13 18:32
April 13 (Reuters) - The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply with new U.S. and UK sanctions imposed for Russia's invasion of Ukraine. The sanctions aim to restrict revenues for Russia from the export of metal produced by companies such as Rusal and Nornickel that help to fund its military operations in Ukraine. The U.S. Treasury Department and the British government on Friday prohibited the 147-year old LME and the Chicago Mercantile Exchange (CME) from accepting new Russian production of aluminum, copper and nickel. If an owner of Russian metal can provide evidence that it was produced before April 13, it can still be put on LME warrant - a title document conferring ownership, the LME said. "Russian metal warrants issued on or after 13 April 2024 for metal produced before 13 April 2024 are still subject to restrictions that prevent UK LME Members and clients from cancelling or withdrawing the corresponding metal unless they are doing so for the account of a non-UK Client," the exchange said in a statement. In response to Reuters question on the sanctions and the share of Russian metal in its warehouses, the CME said: "We are reviewing and will communicate any impact to our markets. We do not disclose the origin or brands of the eligible or registered metal we have in store and that is consistent across all of our physically delivered markets." On Friday, a UK official said London expected any market disruption to be short-lived and that the government had consulted with colleagues in the U.S., the LME, the Bank of England and the Financial Conduct Authority to minimise any impact. The announcement of the ban was made while trading was closed for the weekend. One industry source, speaking on condition of anonymity, predicted price reaction would be muted when trading resumes in Asian time on Monday, while another said a repeat of the kind of aluminium price jump spurred by U.S sanctions on Rusal in April 2018 was possible. Both said any European Union sanctions would be almost certain to trigger a price surge. The bloc last year imported around 500,000 metric tons of aluminium for use in transport, construction and packaging. LOOPHOLES? The action does not block bilateral contracts between two companies, rather than via the LME, British officials said on Friday, speaking on condition of anonymity. The officials said continued trading of Russian metals off of the exchanges is expected to be at a discount and that it does not restrict supply. The share of available aluminium stocks of Russian origin in warehouses approved by the LME stood at 91% in March, while the proportion of copper stocks rose to 62% from 52% in February. Russian nickel in LME warehouses amounted to 36% of the total. The high share of Russian-origin metal in LME inventories has been a concern for some producers, who compete with Russia's Rusal, and some Western consumers who have avoided Russian metal since Moscow's invasion of Ukraine in 2022. Britain banned the import of base metals from Russia in December and said it would extend the prohibition to ancillary services when it could be done in concert with international partners. The LME, the world's largest and oldest forum for trading metals, is owned by Hong Kong Exchanges and Clearing (0388.HK) New Tab, opens new tab. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/commodities/lme-releases-notice-after-uk-us-take-action-targeting-russian-metals-2024-04-13/
2024-04-13 17:08
BILBAO/LISBON, April 13 (Reuters) - People in Bilbao in northwestern Spain normally spend April dodging the showers but on Saturday many hit the beach as temperatures were up to 10 degrees Celsius (18 degrees Fahrenheit) above normal. The Portuguese were also hitting the beach near Lisbon as temperatures rose to as high as 29 C. Many people swapped umbrellas for ice creams as temperatures reached 21 C in Bilbao and were expected to hit 27 C elsewhere on Sunday, Aemet, the state weather forecasting agency said. "Temperatures, both on Saturday and Sunday, will be between 5 and 10 degrees Celsius higher than normal in much of the country, and between 10 and 15 degrees Celsius [higher] in the northern third of the peninsula and the Canary Islands," Aemet said in a post on the social media site X. Temperatures more often experienced in summer months were being recorded in April, Aemet said. In Portugal, temperatures were also higher than usual for this time of the year, according to weather agency IPMA on Saturday. In the central region of Santarem, temperatures are expected to reach 31 C. However, by next week temperatures in much of Spain will dip again, particularly in northern Spain, Aemet said. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. https://www.reuters.com/business/environment/iberians-hit-beaches-temperatures-rise-10c-above-normal-2024-04-13/
2024-04-13 13:40
NIAMEY, April 13 (Reuters) - Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp (CNPC) worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday. RTN did not provide details on the agreement. Niger's military authorities and CNPC could not be reached for comment. "China is a great friend to Niger; we can never say it enough," Prime Minister and Minister of Economy and Finance Ali Mahaman Lamine Zeine said at the signing ceremony, which was broadcast by RTN. "This signature demonstrates the friendship ... and fruitful cooperation between the two states," Chinese ambassador Jiang Feng said. An export pipeline project backed by CNPC subsidiary PetroChina (601857.SS) New Tab, opens new tab was officially launched last November, linking the Agadem oilfield to the port of Cotonou in neighbouring Benin. Previously, the West African country had a small oil refinery with capacity of around 20,000 bpd that mostly supplies Niger's domestic fuel market. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/commodities/niger-china-sign-crude-oil-mou-worth-400-mln-says-niger-state-tv-2024-04-13/
2024-04-13 12:03
MADRID, April 13 (Reuters) - Police forces led by Spain have arrested a gang which allegedly defrauded 645 million euros ($686.41 million) from victims in 35 countries in a scam centred around cannabis plants for medicinal use. The gang mounted a marketing system and attended international cannabis fairs to convince victims to invest in the system, the Spanish National Police said in a statement. It led the operation with the help of Europol and police forces in five other countries. Nine suspects, who have not been named, were detained on April 11 on suspicion of fraud in Spain, Britain, Germany, Latvia, Poland, Italy and the Dominican Republic. "The business model offered by this organization consisted of using the capital transferred from investors to develop partnerships to finance the cultivation of cannabis plants," Silvia Garrido, Spanish police spokeswoman said. "With this system, they promised victims profits of between 70% and 168% per year, depending on the species of cannabis in which they invested." The British National Crime Agency (NCA), which took part in the operation, said 180,000 people invested funds in “JuicyFields” which it called "a notorious and elaborate Ponzi fraud scheme". The NCA also said that a 42-year-old man appeared in a London court on April 11 for the start of extradition proceedings. Luxury cars, hotel parties and music videos were used in an advertising campaign to promote the scheme, police said, and victims were taken to legal cannabis plantations which were involved in the scam. Police carried out raids in 2022 but did not say if any suspects have been charged with any offences. Police blocked bank accounts containing 58,600.00 euros and 116,300.00 euros in crypto currencies, and 106,000 euros in cash was recovered. Properties worth 2.6 billion euros were seized. ($1 = 0.9397 euros) The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/europe/police-arrest-international-gang-686-mln-medicinal-cannabis-scam-2024-04-13/
