2024-07-18 11:58

BEIJING, July 18 (Reuters) - China on Thursday named Danish Crown A/S, as well as Dutch and Spanish pork firms as targets in an anti-dumping probe into European Union pork imports, as Beijing steps up pressure against the bloc's curbs on its electric vehicle exports. The world's biggest pork consumer opened the investigation after the EU imposed provisional duties of up to 37.6% on Chinese-made electric vehicles. The measures could badly impact Europe because a large portion of the bloc's pork shipments to China are pig ears, noses, feet and offal that are only rarely consumed by Europeans. Farmer-owned Danish Crown, one of the world's biggest pork exporters, said it was fully committed to the investigation. "Danish Crown has registered to participate in the investigation and submitted all relevant information to the investigating authority," the Denmark-based company said in a statement. China's tit-for-tat probe appears mainly aimed at Spain, the Netherlands and Denmark, which analysts said were seen as supportive of the EV tariffs. EU governments have expressed divided views on the merits of the EV tariffs in a non-binding but influential vote, sources said on Wednesday. In a statement on Thursday, China's commerce ministry said the authorities will conduct the anti-dumping investigation using samples from Danish meat processor Danish Crown, Dutch producer Vion Boxtel B.N. and Spanish food processor Litera Meat S.L.U. Vion Boxtel and Litera Meat did not immediately respond to requests for comment. Spanish pork producers group Interporc reiterated on Thursday it would fully cooperate with the investigation. The investigation will focus on pork intended for human consumption, such as fresh, cold and frozen whole cuts, as well as pig intestines, bladders and stomachs. China imported $6 billion worth of pork, including offal, in 2023 and more than half of that came from the EU, according to Chinese customs data. Spain is the biggest EU pork supplier to China, followed by the Netherlands, Denmark and France. The investigation is expected to be completed by June 17, 2025, but could be extended by another six months if required. Sign up here. https://www.reuters.com/markets/commodities/china-singles-out-danish-dutch-spanish-firms-anti-dumping-probe-into-eu-pork-2024-07-18/

2024-07-18 11:40

MILAN, July 18 (Reuters) - Italy's power production from renewable sources surpassed fossil fuel output for the first time during the first six months of this year, the power grid operator Terna (TRN.MI) , opens new tab said on Thursday. On 22 June, hourly production from green sources reached a historic peak of 33.2 gigawatt (GW) in Italy, the grid operator said in a statement. The figures are a boost for Italy's efforts to pivot towards cleaner forms of generation. Under its energy and climate plan (PNIEC), Italy plans to increase the electricity produced by renewables to 63% of the total by the end of this decade. Among renewables, hydroelectric production posted a year-on- year increase of 65% between January and June to reach almost 26 Terawatt hours (Twh), a record high for the country. The jump in hydro production was most marked in northern Italy where rainfall levels have been high this year, in contrast to the drier south of the country. The trend is expected to boost second-half earnings for the country's biggest utilities including Enel (ENEI.MI) , opens new tab and A2A (A2.MI) , opens new tab, according to financial analysts. In its report on electricity production, Terna also said that Italian renewable energy operating capacity grew by 3.7 gigawatt in the first half compared with an increase of 1.1 GW in the same period of 2023. In the first half electricity demand rose 1.1% compared with last year, while it increased by 1.5% in the month of June. Sign up here. https://www.reuters.com/business/energy/italys-renewable-power-output-overtakes-fossil-fuels-first-time-2024-07-18/

2024-07-18 11:39

STRASBOURG, July 18 (Reuters) - Green lawmakers in the European Parliament have agreed to support Ursula von der Leyen's bid for a second term as head of the European Commission in a vote on Thursday, the Greens/EFA Group tweeted, confirming what sources inside the group had earlier told Reuters. "The Greens/EFA Group has formally decided to support Ursula von der Leyen as EU Commission President", the group said on social media platform X. The 53-member Green lawmaker group's decision, taken by vote in a closed-door meeting, bolsters von der Leyen's chances of securing another five years as head of the European Union's most powerful institution. The vote is a secret ballot. Lawmakers were scheduled to vote to elect or reject von der Leyen at 1 p.m. (1100 GMT) in Strasbourg, France. Sign up here. https://www.reuters.com/world/europe/green-eu-lawmakers-support-von-der-leyen-second-term-2024-07-18/

2024-07-18 11:32

Dominguez wears protective clothing and uses a UV meter to avoid severe sunburns His home is UV-light-proof with protective film on windows and fans for ventilation Climate change increases risks for XP patients due to more frequent and intense heatwaves BARCELONA/PORTBOU, Spain July 18 (Reuters) - Pol Dominguez, 11, is enjoying his summer holidays in Spain. But unlike most children his age, he does not spend his days at the beach or pool, instead staying indoors to avoid ultraviolet radiation that could be deadly for him. Dominguez has Xeroderma Pigmentosum (XP), a rare disease that affects his skin and eyes. Patients are unable to repair their DNA from solar damage, which puts them at high risk of developing cancer. His case is extreme: even brief exposure to sunlight causes serious burns. With only 2.3 cases per million live births in Western Europe - and around 100 people living with XP in Spain - the hereditary disease is usually detected early when burns appear. Dominguez and his family, who live in Barcelona, have radically modified their habits to avoid exposure to UV radiation. To avoid severe sunburns and blistering, Dominguez wears a hood, jacket, sunglasses and gloves outside, even in winter. In summer, he stays indoors as much as possible, but when he does need to leave the house, the protective clothing is hot and uncomfortable. Dominguez' school has adapted windows and lights so he can have as normal a life as possible, although he needs to bundle up for outside activities and carries a UV meter to check that an environment is safe. "It's very hot and I use a fan to make it cooler," he told Reuters on one of his last days of school, using a portable fan underneath the shield he wears over his face. Dominguez' home is UV-light-proof, with protective film on windows, blinds lowered and fans to keep the environment well-ventilated, said his mother, Xenia Aranda. "What we do is go out at night," Aranda said. "At around 10 p.m. we say: 'What would we like to do, Pol? Go to the beach, grab an ice cream, go for a run?'" Pol is spending part of the summer with his grandparent Ferran Aranda in Portbou, near the French border. When the sun sets, he can finally go to the beach without protective gear. Just eating an ice cream outside or turning his towel into a superhero's cape brings a smile of delight to his face. As heatwaves become more frequent and intense and spread across seasons due to climate change, the risks to Pol and others like him increase. "The more hours of sunshine, the more solar damage. Therefore more illness," said Asuncion Vicente, a pediatric dermatologist at Barcelona's Sant Joan de Deu hospital. Sign up here. https://www.reuters.com/business/healthcare-pharmaceuticals/boy-lives-permanent-shade-survive-dangerous-sunlight-2024-07-18/

2024-07-18 11:29

Top OPEC+ ministers to meet online on Aug. 1 OPEC+ plan calls for some oil cuts to be unwound starting in Oct Russia's Novak does not rule out tweaks to agreement MOSCOW/LONDON, July 18 (Reuters) - A mini OPEC+ ministerial meeting next month is unlikely to recommend changing the group's output policy, including a plan to start unwinding one layer of oil output cuts from October, three sources told Reuters. The Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the group is known, will hold an online joint ministerial monitoring committee meeting (JMMC) on Aug. 1 to review the market. One of the three OPEC+ sources, all of whom declined to be identified by name, said the meeting would serve as a "pulse check" for the health of the market. Oil has risen in 2024 and was trading around $85 a barrel on Thursday, finding support from Middle East conflict and falling inventories. Concern about higher for longer interest rates and demand has limited gains this year. The Saudi government communications office did not immediately return a request for comment. OPEC's headquarters in Vienna did not immediately respond to a request for comment. OPEC+ is currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand, in a series of steps agreed since late 2022. At its last meeting in June, OPEC+ agreed to extend cuts of 3.66 million bpd by a year until the end of 2025 and to prolong the most recent layer of cuts - a 2.2 million bpd cut by eight members - by three months until the end of September 2024. OPEC+ will gradually phase out the cuts of 2.2 million bpd over the course of a year from October 2024 to September 2025. Russian Deputy Prime Minister Alexander Novak, asked this week if the market was strong enough to take the extra volume from October, did not rule out tweaks to the agreement if needed. "Now we have such an option (of output increase), as we said earlier, we will always evaluate the current situation," Novak said. In June, Saudi Energy Minister Prince Abdulaziz bin Salman had said OPEC+ could pause or reverse the production hikes if it decided the market is not strong enough. The JMMC usually meets every two months and can make recommendations to change policy which could then be discussed and ratified in a full OPEC+ ministerial meeting of all members. Sign up here. https://www.reuters.com/business/energy/opec-unlikely-change-oil-output-policy-aug-1-jmmc-meeting-sources-say-2024-07-18/

2024-07-18 11:29

LONDON, July 18 (Reuters) - British sandwich and coffee chain Pret A Manger said on Thursday a subscription service it dubbed "too good to be true", offering up to five barista-prepared drinks per day, will be scrapped in September. The retailer, commonly referred to as Pret, launched the drinks subscription service in September 2020, trying out a new business model to get it through the COVID-19 pandemic which hammered its sales. It initially charged 20 pounds ($26) a month. It currently charges 30 pounds a month and also offers a 20% reduction on all other items. From September, "Club Pret" subscribers will instead get 50% off up to five barista-made drinks a day for 5 pounds a month until March 31, 2025 and 10 pounds a month thereafter. The 20% reduction on other items will also be scrapped. "Four years and over a quarter of a billion coffees later, we have decided that it’s time to rethink how it works," said Clare Clough, Pret’s UK and Ireland managing director. She said Pret "never really got comfortable with" dual pricing across its food products. In 2021, Pret, owned by investment firm JAB and founder Sinclair Beecham, set out a plan to double the size of its business by 2026. It currently trades from over 650 shops in 18 markets. ($1 = 0.7702 pounds) Sign up here. https://www.reuters.com/business/retail-consumer/uks-pret-scraps-five-drinks-day-subscription-service-2024-07-18/