2023-12-16 03:11

CAIRO, Dec 16 (Reuters) - Any hostile move against Yemen will have dire consequences and great costs, Ali al-Qahoum, a member of the Houthi group's Ansarullah politburo, told Al Mayadeen TV late on Friday. "The Houthis will not abandon the Palestinian cause, regardless of any U.S., Israeli, or Western threats," he said, adding that operations against Israel will continue. Yemen is ready with all defensive options to respond to any American, Israeli or Western hostile moves, he said. "Yemen is concerned in protecting international maritime navigation in accordance with international laws and norms," al-Qahoum said. Earlier in the day, the U.S. military said attacks from Houthi-controlled Yemen struck two Liberian-flagged ships in the Bab al-Mandab Strait, underlining the threat to vessels in shipping lanes being targeted by the Iran-aligned group. Part of the Iran-aligned "Axis of Resistance", the Houthis have been attacking vessels in Red Sea shipping lanes and firing drones and missiles at Israel. The Houthis, who rule much of Yemen, have said they will continue their attacks until Israel stops its offensive in the Gaza Strip. https://www.reuters.com/world/middle-east/any-hostile-move-against-yemen-will-have-dire-consequences-houthi-official-al-2023-12-16/

2023-12-16 00:03

LONDON, Dec 15 (Reuters) - A Spanish navy ship is sailing at full speed towards a Maltese-flagged commercial vessel that may have been hijacked by pirates off Somalia, the European Union's Somali counter piracy force said on Friday. If confirmed, it would be the first successful hijacking involving Somali pirates since 2017 when a crackdown by international navies stopped a rash of seizures in the Gulf of Aden and the Indian Ocean. EUNAVFOR's joint operations centre in Spain said it received an alert on Thursday about the "alleged pirate-hijacked vessel" Ruen, which was approximately 500 nautical miles east of Socotra Island, off Somalia. In Somalia's breakaway Puntland region, a member of a group that helped organise raids on ships in the past told Reuters he had heard pirates had managed to seize a vessel. "Six of my pirate friends managed to capture a ship and they will bring it to the coast of the eastern region of Puntland," Mukhtar Mohamud said by phone from the coastal city of Qandala. He did not name the vessel and Puntland's maritime authorities had no immediate comment. EUNAVFOR said the Spanish warship Victoria had been sent to the scene "in order to gather more information and evaluate further actions". "EUNAVFOR remains vigilant to this and other recent piracy-related events in the area of operations, the northwest Indian Ocean and the Red Sea." The force added that it was coordinating with the broader international naval Combined Maritime Force. British maritime security company Ambrey said it believed the Ruen had been hijacked by pirates. Earlier on Friday, Britain’s maritime body UKMTO said it had received a report from a ship's security officer who believed the crew no longer had control of a vessel which was currently headed towards Somalia. The Ruen is managed by Bulgaria's Navigation Maritime Bulgare, according to data on public shipping database Equasis. The vessel was last seen under way in the open sea sailing towards Somalia at 1426 GMT, according to ship tracking data on LSEG. https://www.reuters.com/world/spanish-warship-headed-vessel-that-may-be-hijacked-by-pirates-eu-somali-force-2023-12-15/

2023-12-16 00:01

Costco climbs after posting upbeat Q1 results U.S. business activity picks up in December - survey NEW YORK, Dec 15 (Reuters) - The S&P 500 ended a choppy session little changed on Friday but registered a seventh straight week of gains in its longest winning streak since 2017 after this week's dovish pivot by the Federal Reserve. The Dow Jones industrial average notched a record high close for the third session in a row. Comments Friday by Fed Bank of New York President John Williams that it was too soon to be talking about rate cuts dampened some of the day's optimism. Also, the rate sensitive real estate (.SPLRCR) and utilities (.SPLRCU) sectors fell more than 1% each, giving back some of this week's gains. Stocks rallied after the Fed in its policy statement Wednesday signaled lower borrowing costs in 2024. An index of semiconductors (.SOX) rose 9.1% for the week, its biggest weekly percentage gain since May. "What I think we got this week is that (Fed Chair Jerome Powell) doesn't want to overly punish the economy with (rates) being higher for longer for no good reason," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. "I don't know if we're going to get whatever is considered a Santa Claus rally, but it looks like all things being considered, we could drift higher from here." The Dow Jones Industrial Average (.DJI) rose 56.81 points, or 0.15%, to 37,305.16, the S&P 500 (.SPX) lost 0.36 points, or 0.01%, to 4,719.19 and the Nasdaq Composite (.IXIC) added 52.36 points, or 0.35%, to 14,813.92. For the week, the Dow gained 2.9%, the Nasdaq climbed 2.8% and the S&P 500 added 2.5%. The day also marked the expiry of quarterly derivatives contracts tied to stocks, index options and futures, also known as "triple witching." The day's volume was high. Volume on U.S. exchanges was 19.76 billion shares, compared with the 11.80 billion average for the full session over the last 20 trading days. Shares of Costco Wholesale (COST.O) jumped 4.4% after the retailer topped Wall Street estimates for first-quarter results due to demand for cheaper groceries. Earlier on Friday, a survey showed domestic business activity picked up in December amid rising orders and demand for workers, which could further help to allay fears of a sharp slowdown in economic growth in the fourth quarter. Declining issues outnumbered advancing ones on the NYSE by a 2.00-to-1 ratio; on Nasdaq, a 1.54-to-1 ratio favored decliners. The S&P 500 posted 50 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 180 new highs and 85 new lows. https://www.reuters.com/markets/us/futures-gain-rate-cut-cheer-persists-2023-12-15/

2023-12-15 23:50

SYDNEY, Dec 16 (Reuters) - Large parts of Australia on Saturday sweltered under heat wave conditions that prompted the nation's weather forecaster to issue bush fire warnings in several states. In New South Wales, Australia's most populous state, more than 50 fires were burning on Saturday and a total fire ban was in place for many areas, including Sydney, the state's rural fire service said. The agency said on social media platform X that more than 700 firefighters and incident management personnel were working statewide to fight blazes amid "widespread high and extreme fire danger". Heat wave alerts and fire warnings were also in place for parts of Western Australia and the Northern Territory, while in South Australia heat wave conditions were forecast but no fire warning was issued, according to the Bureau of Meteorology. The hot weather lifts the risk of bush fires in an already high-risk fire season amid an El Nino weather event, which is typically associated with extreme events such as wildfires, cyclones and droughts. In the town of Fitzroy Crossing, in remote Western Australia, a maximum temperature of 46 degrees Celsius (114.8 degrees Fahrenheit) was forecast on Saturday, more than five degrees above the average December maximum, according to forecaster data. It was 38.8C (101.8 F) there at 11 a.m. local time. Authorities have warned of a high-risk bush fire season this Australian summer after a quiet two seasons compared with the 2019-2020 "Black Summer" fires that destroyed an area the size of Turkey and killed 33 people. Meanwhile in Queensland, ex-Tropical Cyclone Jasper, which tore through the state's northeast this week, was forecast to bring more heavy rain and possible flooding in areas near the tourist town of Cairns. "More wet weather is on the cards," Bureau of Meteorology spokesperson Angus Hines said in an update. https://www.reuters.com/business/environment/australia-swelters-through-heat-wave-amid-extreme-fire-danger-2023-12-15/

2023-12-15 23:43

SAO PAULO, Dec 15 (Reuters) - The price of the most active bond of Brazilian petrochemical Braskem fell again on Friday, a day after ratings agency Fitch cut the firm's rating to below investment grade citing increased risks related to sinking ground in the city of Maceio. Fitch cut Braskem's (BRKM5.SA) credit note to "BB+" from "BBB-" late afternoon on Thursday. On Tuesday, Moody's had also downgraded the firm's rating, which it already had rated as 'junk.' Braskem's bond due 2033, its most active on Friday, traded at 82.1 cents on the dollar, down from 83.5 cents closing level on Thursday and 91.5 cents in late November. The bond, which was issued in February, had plunged to a closing record-low of 80.5 cents on the dollar earlier this week, but has gained some ground since then before Fitch's action. The company's bonds and shares had been suffering since late November, as new damage claims about its salt extract operations in Maceio have emerged amid authorities' risk alerts on one of its disabled mines, which ended breaching on Sunday. Braskem has spent more than 9 billion reais ($1.82 billion)and provisioned some additional 5 billion reais, since authorities said in 2018 its rock salt operations in Maceio had contributed to sinking ground that made some 60,000 people to be moved, according to city hall. In another signal of the latest events' impact on Braskem's traded debt, the firm's 2041 bond, its oldest, fell this week to its lowest closing price since January 2016. Braskem's shares closed higher on Friday, while Brazil's benchmark stock index Bovespa (.BVSP) ended lower. However, the firm's shares fell about 9% this month versus about a 2% gain on the Bovespa. Braskem still holds a "BBB-" investment-grade rating by S&P, with a "negative" outlook. ($1 = 4.9382 reais) https://www.reuters.com/markets/commodities/brazils-braskem-bond-back-downward-path-after-fitch-cuts-junk-2023-12-15/

2023-12-15 23:39

Dec 15 (Reuters) - CNX Resources (CNX.N) said on Friday it had pulled out of the Adams Fork ammonia project and is evaluating several alternative sites in southern West Virginia for clean hydrogen projects. The natural gas producer cited delays and increasing uncertainty over implementation tax credit provisions of the Inflation Reduction Act (IRA) and an inability to reach final commercial terms with project developers, for ending its participation in the project. Adams Fork was an anchor project in the Appalachian Regional Clean Hydrogen Hub (ARCH2) and its construction was expected to begin in 2024. The project would have initial annual ammonia production capacity of 2,160,000 metric tons, with an optional additional production capacity. CNX said on Friday it remains committed to ARCH2, adding that "final investment decision remains contingent upon tax credit guidance that unambiguously supports low carbon intensity feedstock projects that will facilitate development of the regional clean hydrogen hubs, including ARCH2." The ARCH2 project includes several partners, and the consortium was selected to develop multi-state clean hydrogen hub. https://www.reuters.com/sustainability/cnx-resources-pulls-out-adams-fork-ammonia-project-2023-12-15/