2023-12-18 01:53
For 2024 U.S. election stories, results and data: Dec 17 (Reuters) - Donald Trump, who predicted three years ago that if Democratic President Joe Biden won the White House in 2020 markets would crash, said on Sunday that stock markets hitting record highs were just making "rich people richer." Trump, the frontrunner for the 2024 Republican nomination, often took credit for a rising stock market when he was president between 2017 and 2021. He was mocked by Biden last week for wrongly predicting a crash when they campaigned against each other in 2020. The Dow Jones Industrial Average hit a record high last week, topping 37,000 and surpassing the previous record set in 2022. In a 2020 debate with Biden, Trump said that if Biden won the election, "the stock market will crash." Biden defeated Trump in the 2020 election. In an attempt to give a populist and anti-Biden twist on the new record stock market high, Trump, a self-described billionaire, told a crowd of supporters in Reno, Nevada: "The stock market is making rich people richer." Turning on Biden, he changed the subject to high prices, a hallmark of Biden's three years in office. "Biden's inflation catastrophe is demolishing your savings and ravaging your dreams," Trump said, as he looks ahead to a likely rematch with Biden in the Nov. 2024 White House contest. Despite decreasing inflation in recent months, an increase in wages and low unemployment, Trump added: "We are a nation whose economy is collapsing into a cesspool." Republican voters begin picking their 2024 White House standard-bearer on Jan. 15 in Iowa, the state which kicks off the nominating process. Trump was holding a rally in Nevada, where Republicans vote on Feb. 8. Trump enjoys commanding leads over his Republican rivals in state and national polls, despite his myriad legal problems and more than 90 criminal charges bought against him this year. In a CBS News/YouGov poll released Sunday, however, one of Trump's Republican rivals - former United Nations Ambassador Nikki Haley - had narrowed the gap on Trump in New Hampshire, the second state to vote on Jan. 23. Trump has 44% support of likely Republican primary voters in the Granite State, while Haley has increased her support to 29%. In a clear sign Trump sees Haley as emerging as his closest rival for the nomination, rather than Florida Governor Ron DeSantis, who has fallen in many polls all year, Trump went after Haley in his Nevada speech. Citing other polls where he has bigger leads over Haley, Trump said: "Nikki Haley - where's the surge?" https://www.reuters.com/world/us/trump-bemoans-record-stock-market-just-making-rich-people-richer-2023-12-18/
2023-12-17 23:44
Dec 17 (Reuters) - Canada expects to announce this week that all new cars will have to be zero emissions by 2035, a senior government source said, as Ottawa is set to unveil new regulations in the latest example of countries around the world pushing for electrification. The new rules, known as the Electric Vehicle Availability Standard, would help ensure supply is available to the Canadian market and shorten wait times to get an electric vehicle, the source told Reuters, confirming earlier media reports. The Canadian provinces of British Columbia and Quebec already have the same regulated sales targets. Zero-emission vehicles - which include battery electric, plug-in and hydrogen models - must represent 20% of all new car sales in 2026, 60% in 2030 and 100% in 2035, the source said on condition of anonymity. Officials at Canada's environment ministry declined comment. Global EV sales now make up about 13% of all vehicle sales and are likely to rise to between 40%-45% of the market by the end of the decade, according to the Paris-based International Energy Agency (IEA). In the United States, the Republican-led House of Representatives voted earlier this month to bar the Biden administration from moving forward with stringent vehicle emissions regulations that would result in 67% of new vehicles being electric by 2032. The vote drew a veto threat from the White House. Market leader Tesla (TSLA.O) sold 325,291 vehicles in the United States during the first half of 2023. General Motors’ (GM.N) Chevrolet brand was a distant second at 34,943, trailed by Ford (F.N), Hyundai (011760.KS) and Rivian (RIVN.O). https://www.reuters.com/sustainability/canada-announce-all-new-cars-must-be-zero-emissions-by-2035-report-2023-12-17/
2023-12-17 22:56
Dec 17 (Reuters) - The death toll from a severe electrical storm that struck Argentina over the weekend has risen to 16 people in Argentina and the neighboring country of Uruguay. Uruguay's meteorological agency said two people were killed as strong wind gusts swept in from the southeast early Sunday morning, according to a statement posted on the agency's website. In Argentina, a woman died early Sunday after being struck by a falling tree branch in the town of Moreno, according to local media. Thirteen others died on Saturday in the town of Bahia Blanca after a wall collapsed during the storm. Argentine President Javier Milei visited the accident site on Sunday. The storm's powerful winds also downed trees and lamp posts across the capital, Buenos Aires. https://www.reuters.com/world/americas/storm-claims-more-lives-argentina-uruguay-bringing-death-toll-16-2023-12-17/
2023-12-17 22:47
SYDNEY, Dec 18 (Reuters) - Floods caused by heavy rain in the wake of former Tropical Cyclone Jasper cut off several towns popular with tourists in Australia's northeast along the Great Barrier Reef on Monday, with a crocodile being captured from a storm drain. Jasper dumped months' worth of rain in the far north of Queensland state over the weekend, forcing some people to flee homes and crowd on rooftops to escape fast-rising rivers. "The problem is the rain won't stop and until it eases up, we can't get aerial support into remote places," the state's premier, Steven Miles, told ABC Television. "We see a lot of natural disasters and this is just about the worst I can remember." Jasper was downgraded to a tropical low after leaving a trail of destruction across the state last week. In Ingham, a town of about 5,000 inundated by floods, conservation officials captured a 2.8-m (9-ft) -long crocodile in a storm drain by a gas station, media clips showed. Crocodile sightings in north Queensland are more common in rivers, lagoons and swamps in rural areas, however. Cairns, the gateway town to the Great Barrier Reef and home to more than 150,000 people, received about 600 mm (24 inches) of rain over 40 hours through early Monday. That is more than triple the December mean of 182 mm (7.17 inches). All flights from Cairns airport were cancelled or postponed, with social media images showing planes partially submerged on the tarmac. Water pumps have been draining water since Sunday but "it's still not keeping up with the volume of water that came in," Richard Barker, the airport's chief executive, told Sky News. Dan, living just north of Cairns airport, who gave only one name, told ABC Radio he had to shelter atop his kitchen bench for about four hours before being taken to a house where 30 people had gathered on the roof awaiting rescue boats. "Kids, elderly people, dogs and cats on this poor bloke's roof who just had brand new solar panels installed ... it was a very harrowing journey navigating the very fast-flowing water and dodging debris," he said. EL NINO INFLUENCE Weather officials forecast more rain, as Jasper is likely to persist through Monday, with some regions expected to get 300 mm (12 inches) of rain within six hours. Major flood warnings have gone out, with rivers set to break records dating to 1977. More than 14,000 properties regionwide have lost power. Prime Minister Anthony Albanese said defence forces were on standby to launch rescue and relief efforts. Australia is now experiencing an El Nino weather phenomenon, which can provoke extremes ranging from wildfires to tropical cyclones and prolonged droughts. As the northeast battles floods, Australia's southeast, in contrast, is on bushfire alert with temperatures expected to top 40 degrees Celsius (104 degrees Fahrenheit) on Tuesday in some Sydney suburbs. https://www.reuters.com/world/asia-pacific/floods-cut-off-cyclone-hit-australia-tourist-towns-along-great-barrier-reef-2023-12-17/
2023-12-17 21:47
Dec 18 (Reuters) - A look at the day ahead in Asian markets. Asia kicks off the last full trading week of 2023 on Monday, with the U.S. Federal Reserve-fueled surge in risk appetite from last week losing steam and investors gearing up for the last major central bank meeting of the year from Japan. The Bank of Japan's policy decision on Tuesday is the main event in Asia this week, and investors also have rate decisions from the People's Bank of China and Bank Indonesia, Reserve Bank of Australia meeting minutes, and Japanese consumer price inflation to navigate. Investor sentiment appears to be mixed. The MSCI Asia ex-Japan index last week rose 3% for its best week since July, outperforming the MSCI World index, which rose 2.6%. Still, the MSCI World is up seven weeks in a row, a winning streak not seen for six years. Interest rate futures markets are pricing in 150 basis points of rate cuts from the Fed next year, despite pushback from some Fed officials. The recent slide in bond yields and the dollar could continue to support risk assets this week. But the rally in stocks and bonds has been pretty remarkable, and with the holiday season fast approaching investors may be tempted to reduce exposure and take profit. Especially with the BOJ decision and guidance on Tuesday. None of the 28 economists in a Reuters poll predicted any changes to policy at this meeting, but six reckon the BOJ will start dismantling ultra-loose conditions in January. Over 80% of economists expect the BOJ to ditch negative interest rates by the end of next year. This might be a stretch, given the BOJ's ability to surprise and the fact that 12 months is a very long time. Whenever the BOJ does start raising rates, however, it will be moving against the global tide - markets expect the Fed, European Central Bank, Bank of England and several other major central banks to be cutting rates to some extent next year. One central bank leaning towards easing policy rather than tightening is the PBOC, which is battling against deflation and sub-par growth. But there appears to be no clear appetite from the Beijing to significantly ease policy. China's CSI 300 index of blue chip stocks fell 1.7% last week, its fifth consecutive weekly loss. The index is down 4.4% in December, on track for a fifth monthly loss in a row for the first time since the index was launched in December, 2004. Economic indicators last week showed that key November data were weaker than expected and the pace of deflation accelerated. As a result, China's economic surprises index has now slipped into negative territory and is at its lowest since mid-October. Here are key developments that could provide more direction to markets on Monday: - Indonesia trade (November) - Australia business sentiment (November) - Germany Ifo business sentiment index (December) https://www.reuters.com/markets/global-markets-view-asia-pix-2023-12-17/
2023-12-17 16:41
DUBAI, Dec 17 (Reuters) - Egypt's Suez canal authority said on Sunday it was closely monitoring the impact of tensions in the Red Sea after recent attacks by Yemen's Houthis on vessels in the southern part of the basin. Two major freight firms including MSC, the world's biggest container shipping line, said on Saturday they would avoid the Suez Canal as Houthi militants stepped up their assaults. The authority is "closely following the consequences of current tensions," the body's chairman, Osama Rabie, said in a statement. Maritime traffic in the canal was currently normal, he added, without going into further detail. Iran-aligned Houthis have launched attacks against vessels in the region in protest against Israel's bombardment and invasion of Gaza that has killed almost 19,000 Palestinians, according to Gaza health officials. Since Nov. 19, 55 ships have rerouted via the Cape of Good Hope, while 2,128 have crossed the canal in the same period, the Suez canal authority said. Rabie said that on Sunday, 77 ships crossed the canal, including some ships belonging to shipping lines that had announced temporary diversions. Those were vessels that were already in the Red Sea region before the announcements were made. https://www.reuters.com/markets/commodities/egypts-suez-canal-authority-monitoring-tensions-red-sea-2023-12-17/
