2024-04-06 04:13

NEW DELHI, April 6 (Reuters) - Tata Steel India recorded its highest annual crude steel production at 20.8 million metric tons in 2023/24, up 4% on year, according to provisional data released by the company. Tata Steel's production in Netherlands was 4.8 million metric tons during 2023/24, down 24% on year, and production in UK was 3.02 million metric tons, unchanged on the year, it said. 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/tata-steel-india-posts-record-annual-crude-steel-output-202324-2024-04-06/

2024-04-06 00:30

SYDNEY, April 6 (Reuters) - New Zealand's government on Saturday said an independent panel of experts would review the country's methane targets, with the aim of guiding domestic climate change goals for 2050. "This independent review, which will report back to the government by the end of the year, will provide evidence-based advice on what our domestic 2050 methane target should be, consistent with the principle of no additional warming," Agriculture Minister Todd McClay said in a statement. Climate Change Minister Simon Watts said the review complemented a Climate Change Commission review of the 2050 targets and would "provide an input into the Government’s response to the Commission’s advice in 2025." The commission, a government body that advises on climate change policy, is currently reviewing the country's commitment to reduce emissions of greenhouse gases other than biogenic methane to net zero or lower, by 2050. New Zealand, with a population of around 5 million people, has pledged to reduce biogenic methane emissions by between 24% and 47% by 2050 from 2017 levels. This includes a 10% reduction of biogenic methane emissions by 2030. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/asia-pacific/new-zealand-announces-independent-review-2050-methane-targets-2024-04-06/

2024-04-05 23:45

NEW YORK, April 5 (Reuters) - A 4.8-magnitude earthquake struck near New York City on Friday morning, the U.S. Geological Survey said, shaking buildings up and down the East Coast and surprising residents in an area that rarely experiences notable seismic activity. The quake's epicenter was in Tewksbury in central New Jersey, about 40 miles (64 kilometers) west of New York City. It occurred just after 10:20 a.m. ET (1420 GMT) at a depth of 4.7 kilometers (2.9 miles), the USGS said. At 5:59 p.m. there was a small but noticeable aftershock, which had a magnitude of 4.0, according to the USGS. No major damage was reported, but engineering teams were inspecting roads and bridges. "This is one of the largest earthquakes on the East Coast in the last century," New York Governor Kathy Hochul said at a news conference. New York City Mayor Eric Adams said that no injuries had been reported but urged city residents to take cover under furniture, in a doorway or next to an interior wall if they felt aftershocks. "New Yorkers should go about their normal day," he said at a news conference. People from Baltimore to Boston reported feeling rumbling and shaking, with some running outside to try to detect the source. Charita Walcott, a 38-year-old resident in the Bronx borough of New York, said the quake felt "like a violent rumble that lasted about 30 seconds or so." "It was kind of like being in a drum circle, that vibration," she said. James Pittinger, mayor of Lebanon, New Jersey, near the quake's epicenter, said there were no reports of injuries or significant damage but that people were unnerved. "I was sitting in my home office when things started to fall off the walls and shelves," Pittinger said. "It was a crazy experience." U.S. President Joe Biden spoke with New Jersey Governor Phil Murphy about the earthquake, and the administration will provide assistance if needed, the White House said in a statement. At the United Nations in midtown Manhattan, the Save the Children CEO abruptly stopped addressing the Security Council on the Israel-Gaza conflict as cameras began shuddering. "You're making the ground shake," Palestinian UN envoy Riyad Mansour quipped. Flights were held at area airports in the aftermath of the earthquake but had resumed by 12:30 p.m., according to the Federal Aviation Administration (FAA). Residual delays were expected. Friday's tremor was the largest felt in the city since a 2011 5.8-magnitude earthquake in Virginia that prompted evacuations of City Hall and other buildings and caused damage in Washington. Earthquake magnitudes are measured on a logarithmic scale, which means the amount of energy released by a quake increases by more than 30 times for each whole number. A 1989 earthquake that disrupted baseball's World Series and rocked San Francisco was measured at a 6.9 magnitude, which would have made it more than 1,000 times more powerful than Friday's quake. Earthquakes in the eastern U.S. are felt across a far broader area because the bedrock is much older and harder, transferring seismic energy more easily, according to the USGS. The rocks in the western U.S. are younger and contain more faults that absorb earthquake energy. (This story has been refiled to correct the time of aftershock to 5:59 p.m. ET in paragraph 3) Get weekly news and analysis on the U.S. elections and how it matters to the world with the newsletter On the Campaign Trail. Sign up here. https://www.reuters.com/world/us/magnitude-55-earthquake-strikes-new-york-new-jersey-emsc-2024-04-05/

2024-04-05 23:00

SYDNEY, April 6 (Reuters) - Australian authorities on Saturday said 152 people had been rescued from floodwaters in the eastern state of New South Wales after torrential rains sparked warnings for residents to move to higher ground. Authorities said 72 rescues were carried out in state capital Sydney, Australia's largest city, where there was dangerous flooding in several low-lying suburbs. Some 15 emergency evacuation orders were in place statewide, said New South Wales State Emergency Service, which had fielded 4,128 calls for help in the 24 hours to 0500 local time. "Flood levels in some of the rivers particularly in western Sydney are continuing to rise," New South Wales Premier Chris Minns said in a televised media conference. Torrential rains pummelled Australia's southeast on Friday, dumping almost a month's worth of rainfall on Sydney and prompting warnings for people to avoid non-essential travel and stay indoors. Sydney received 111 mm (4.4 inches) of rainfall over the 24 hours to Friday morning, data from the nation's weather forecaster showed, just shy of mean rainfall of 121.5 mm for the month of April. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/asia-pacific/flood-hit-sydney-residents-urged-higher-ground-after-torrential-rains-2024-04-05/

2024-04-05 22:39

Tesla falls on report automaker scrapping low-cost car plans March nonfarm payrolls stronger than expected Indexes up: Dow 0.8%, S&P 500 1.1%, Nasdaq 1.2% NEW YORK, April 5 (Reuters) - U.S. stocks finished higher on Friday after a strong jobs report reinforced the view that the economy remains healthy even as it suggested the Federal Reserve could delay cutting interest rates. All major S&P 500 sectors advanced, with communication services (.SPLRCL) , opens new tab, industrials (.SPLRCI) , opens new tab and technology (.SPLRCT) , opens new tab the top gainers. U.S. Labor Department data showed employers hired far more workers in March than expected and kept steadily lifting wages, suggesting the economy ended the first quarter on solid ground. The data stoked expectations the Fed will likely delay cutting interest rates given that a recession is nowhere in sight, said Tom Plumb, president and portfolio manager at Plumb Funds in Madison, Wisconsin. "What we are continuing to see is that a robust economy is not necessarily inflationary, and this labor report, even though it's just for one month, reinforces that there's less likelihood of a recession, which is more important than the expectations of the timing of interest rate reductions," Plumb said. The Dow Jones Industrial Average (.DJI) , opens new tab rose 307.06 points, or 0.80%, to 38,904.04, the S&P 500 (.SPX) , opens new tab gained 57.13 points, or 1.11%, to 5,204.34 and the Nasdaq Composite (.IXIC) , opens new tab gained 199.44 points, or 1.24%, to 16,248.52. Indexes posted declines for the week, however, following mixed economic data during the week including a soft services activity report and a stronger manufacturing report. For the week, the Dow fell 2.3%, the S&P 500 dropped 1% and the Nasdaq declined 0.8%. Money markets are now pricing in around two rate cuts this year, down from three a few weeks ago, according to LSEG. Tesla (TSLA.O) , opens new tab bucked the day's broader market trend, with its shares ending down 3.6% following a Reuters report that the electric carmaker had canceled its inexpensive car that was expected to drive its growth into a mass-market automaker. Among the day's gainers, Krispy Kreme (DNUT.O) , opens new tab rose 7.3% after Piper Sandler analysts upgraded the doughnut chain to "overweight" from "neutral". Shockwave Medical (SWAV.O) , opens new tab gained 2% after Johnson & Johnson (JNJ.N) , opens new tab agreed to buy the medical device maker for $12.5 billion. Volume on U.S. exchanges was 10.11 billion shares, compared with the 11.76 billion average for the full session over the last 20 trading days. Advancing issues outnumbered declining ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored advancers. The S&P 500 posted 20 new 52-week highs and 5 new lows; the Nasdaq Composite recorded 67 new highs and 136 new lows. 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/us/futures-recover-wall-st-selloff-ahead-payrolls-test-2024-04-05/

2024-04-05 21:02

MOSCOW, April 5 (Reuters) - Local authorities in Russia's Ural mountains Orenburg region urged residents of riverside communities to evacuate on Friday, as rising waters in the Ural river flooded villages, and caused a dam to burst. In a video message posted on the Telegram messenger app, Orenburg Mayor Sergei Salmin said the situation was "critical", and that residents of riverside settlements should evacuate immediately. "Don't wait for the situation to become threatening! Leave! You need to evacuate as quickly as possible," said Salmin, whose city is located 1,500 km (930 miles) east of Moscow, close to Russia's border with Kazakhstan. He said that 300 houses had already been flooded. A string of Russian Siberian and Urals mountain provinces, including Orenburg region and neighbouring parts of Kazakhstan have been grappling with floods in recent days. A state of emergency has been declared in the Orenburg region, the country's emergencies ministry said, and ministry personnel had helped 3,500 people affected by flooding nationwide in recent days. In the city of Orsk, 276 km (171 miles) east of Orenburg, a dam burst, threatening part of the city of around 230,000 people with flooding. State news agency TASS quoted the emergencies ministry as saying that up to 4,000 houses accommodating 10,000 residents of a suburban area of Orsk could be inundated as a result of the dam breach. The local emergencies ministry said it was evacuating residents of the potential flood zone to gathering points. Unverified footage circulating on Telegram appeared to show water gushing through a break in a low-slung, earthen dam near Orsk. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/europe/dam-bursts-amid-flooding-russias-urals-evacuation-underway-emergency-services-2024-04-05/