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Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri died after a U.S. drone strike in the Afghan capital Kabul at 6:18 a.m. (0148 GMT) on Sunday.Register now for FREE unlimited access to Reuters.com"Now justice has been delivered, and this terrorist leader is no more," Biden, who is recovering from COVID-19, said in remarks from the White House. "No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out."U.S. intelligence determined with "high confidence" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters. He was killed on the balcony of a "safe house" in Kabul that he shared with other members of his family. No other casualties occurred.Biden said Zawahiri had been the mastermind behind or played a key role in attacks on the USS Cole and U.S. embassies in Kenya and Tanzania."Zawahiri continued to pose an active threat to U.S. persons, interests and national security," the official said on a conference call. "His death deals a significant blow to al Qaeda and will degrade the group's ability to operate."There were rumors of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.His death raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country.The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.In a statement, Taliban spokesman Zabihullah Mujahid confirmed that a strike took place and strongly condemned it, calling it a violation of "international principles." read more Zawahiri succeeded bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire spectacular attacks on the West. read more Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/File Photo Republican and Democratic lawmakers lauded the operation.“The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests," said Republican U.S. Senator Marco Rubio.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumors that he had died.The senior U.S. official said finding Zawahiri was the result of persistent counterterrorism work. The United States identified this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said."Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house," the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinize the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25 he received an updated report and authorized the strike once an opportunity was available, the administration official said.A loud explosion echoed through Kabul early Sunday morning."A house was hit by a rocket in Sherpoor. There were no casualties as the house was empty," Abdul Nafi Takor, spokesman of the interior ministry, said earlier.One Taliban source, requesting anonymity, said there had been reports of at least one drone flying over Kabul that morning.With other senior al Qaeda members, Zawahiri is believed to have plotted the October 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan’s Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle and Matt Spetalnick in Washington and Mohammad Yunus Yawar in Kabul; Editing by Cynthia Osterman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Biden: Al Qaeda leader Zawahiri killed in U.S. strike in Afghanistan.

Crime August 1, 2022 / 8:35 PM / CBS/AP "48 Hours" looks into mysterious hunting death "48 Hours" investigates the mysterious death of an Arizona woman during a hunting trip to Zambia 03:20 A wealthy dentist accused of fatally shooting his wife at the end of an African safari was found guilty of murder and mail fraud Monday. The verdict for Lawrence "Larry" Rudolph' came from a jury in a Denver federal court following a trial that lasted three weeks.Rudolph was charged with murder and mail fraud for cashing in $4.8 million in life insurance claims in what prosecutors describe as a premeditated crime.Rudolph maintained his innocence. His attorney suggested his wife of 34 years, Bianca Rudolph, shot herself while trying to pack a shotgun in a hurry as they prepared to return from Zambia to the United States in 2016. Larry Rudolph previously said he was in the bathroom, heard a gunshot, and found his wife bleeding, dead on the bedroom floor, "48 Hours" reported earlier this year.  But prosecutors countered that evidence showed that was impossible because the wound to her heart came from a shot fired from 2 to 3.5 feet away.As "48 Hours" previously reported, Larry had his wife's body quickly cremated in Zambia, which led a friend of Bianca's to doubt this was an accident. Soon after Bianca's death, the friend called the FBI. According to an FBI complaint cited by "48 Hours," she also said Lawrence was having an affair and had been verbally abusive to Bianca. The friend also told the FBI that the couple fought over money. Bianca and Larry Rudolph Larry Rudolph/Facebook Prosecutors also accused Rudolph's girlfriend and manager of his Pittsburgh-area dental franchise, Lori Milliron, of lying to a federal grand jury about the case and her relationship with Rudolph. She was found guilty by the same jury of being an accessory after the fact to murder, obstruction of a grand jury and two counts of perjury before a grand jury. She was found not guilty on two other counts of perjury.Prosecutors alleged that Rudolph decided to kill his wife to regain control over his life after Bianca Rudolph asked for more say in the couple's finances and demanded that Milliron be fired. Rudolph's attorneys called that a false narrative. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Wealthy dentist Lawrence Rudolph found guilty in wife's death on 2016 African safari.

U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters after the weekly senate party caucus luncheons at the U.S. Capitol in Washington, U.S., June 14, 2022. REUTERS/Sarah Silbiger/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - U.S. Senate Democrats on Monday were awaiting a ruling from a chamber referee this week on whether they can override the legislature's normal rules to pass a $430 billion drugs, energy and tax bill despite Republican objections.The decision by the referee, officially known as the "parliamentarian," will have a profound impact on President Joe Biden's domestic agenda heading into the Nov. 8 midterm elections, when Republicans are favored to win back control of the House of Representatives and perhaps the Senate amid voter discontent over inflation.Senate Majority Leader Chuck Schumer on Monday confirmed that he planned to begin debate this week.Register now for FREE unlimited access to Reuters.comUnder the "reconciliation" procedure Democrats are hoping to use to pass the bill, only a simple majority of votes in the 100-member chamber would be needed to steer the bill towards passage, instead of the 60 needed for most legislation.With the Senate split 50-50 among Democrats and Republicans, the process would allow for passage as Democratic Vice President Kamala Harris could break any tie vote and secure a victory for Biden.The bill being reviewed by the Senate parliamentarian was crafted by Democratic Senator Joe Manchin, who has often stood in the way of key Biden priorities, and with the blessing of Senate Majority Leader Chuck Schumer.Still unknown, however, is whether Democratic Senator Krysten Sinema, like Manchin a maverick in the caucus, will lend her support.A Sinema spokesperson said she was still reviewing the bill and would also wait to see which provisions, if any, the parliamentarian allows to stay in the bill.Without Sinema's vote the entire effort could be doomed, as no Republicans were expected to vote yes on what Democrats are calling the "Inflation Reduction Act of 2022."It would provide new federal funding for a significant reduction in U.S. carbon dioxide emissions that contribute to climate change and allow Medicare, the federal health insurance program for the elderly and disabled, to negotiate lower pharmaceutical prices. Tax increases aimed at the wealthy would partially offset the costs, with lower drug prices also saving the government money, the bill's backers say.But Republicans have been attacking the measure, arguing it will violate a Biden pledge to not raise taxes on those earning less than $400,000 annually. Senator Mike Crapo, top Republican on the Senate Finance Committee, criticized the bill as he released an analysis he requested from the Joint Committee on Taxation (JCT), a nonpartisan congressional panel.The JCT report said the bill's tax provisions would indirectly raise the effective tax burden on Americans with incomes of $200,000 or less, by $16.7 billion in 2023.The tax burden effect in the JCT analysis is due to small estimated reductions of incomes from potential wage cuts that could result from companies' higher tax bills, or lower stock values, said Kimberly Clausing, a tax law professor at the University of California-Los Angeles and a former U.S. Treasury tax official.The legislation would raise the tax burden by another $14.1 billion on taxpayers with annual incomes of between $200,000 and $500,000, according to the JCT analysis.Democrats on the finance committee, which oversees tax policy, say the analysis is "incomplete.""A family making less than $400,000 will not pay one penny in additional taxes," Ashley Schapitl, spokeswoman for the Senate Finance Committee Democrats, said in a statement. "It doesn’t include the benefits to middle-class families of making health insurance premiums and prescription drugs more affordable. The same goes for clean energy incentives for families."(The story is refiled to remove extraneous word in first sentence.)Register now for FREE unlimited access to Reuters.comReporting by Richard Cowan, David Morgan and David Lawder; Editing by Scott Malone and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

U.S. Senate Democrats hope for green light on $430 bln climate, drug bill.

FILE PHOTO: An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo RanRegister now for FREE unlimited access to Reuters.comSummaryJuly inflation near 24-yr high of 6.3%, same as forecastData supports view for further central bank tighteningCore inflation holds steady in tentative sign of reliefSEOUL, Aug 2 (Reuters) - South Korea's consumer inflation sped up to a nearly 24-year high in July, data showed on Tuesday, supporting the market's view for further central bank tightening this year.The consumer price index (CPI) stood 6.3% higher in July than a year earlier, accelerating from a 6.0% rise seen in June. The July inflation rate was the fastest pace since a 6.8% gain in November 1998.It matched the median forecast in a Reuters survey. read more Register now for FREE unlimited access to Reuters.comThe data supports expectations by economists that the central bank, which has raised the policy interest rate to 2.25% from 0.5% over the past year, will raise the rate yet further."Today's data showed signs that inflation would begin slowing after the current quarter, but it will take longer for inflation expectations to ease due to lagging effects," said Oh Chang-sob, an economist at Hyundai Motor Securities.The index rose 0.5% in July on a monthly basis, just above a 0.4% rise tipped in the survey of economists but slowing from a 0.6% gain in June, the Statistics Korea data showed.Annual core inflation, which excludes volatile food and energy prices, ended a three-month run of successive acceleration to hold steady in July at the 3.9% rate seen in June. That was a tentative sign of future relief from high inflation.Tuesday's data will be the only monthly inflation figures released between the central bank's raising of interest rates in July and its next policy meeting, this month. The July rise, 50 basis points, was bigger than usual.The Bank of Korea, which began tightening policy late last year ahead of its peers, has said that the big-step rate hike on July 13 was unusual and that it would most likely be raising by the usual 25 basis points each time in the future. read more Register now for FREE unlimited access to Reuters.comReporting by Jihoon Lee and Choonsik Yoo; Editing by Tom Hogue and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

S.Korea July inflation near 24-yr high as more tightening looms.

"When we started this 12 months ago, every conversation we had was, 'You're totally out of your mind, this is never going to work,'" said teenage CEO Aadit Palicha. Yet, Palicha's company has managed to prove those doubters wrong — it's now nearing unicorn status and is one of India's fastest-growing quick commerce apps. A unicorn is a startup valued at more than $1 billion.Zepto is a startup that promises to deliver groceries in less than 10 minutes. Despite being just one of many businesses to join the instant commerce wave, it has already caught the eyes of investors. Its latest cash injection of $200 million in May 2022 valued the business at $900 million, just nine months after its launch. We figured that was just a more exciting opportunity than studying in an elite university.Aadit PalichaCo-founder and CEO, ZeptoDriving its meteoric growth are Palicha and Kaivalya Vohra, two 19-year-olds who dropped out of Stanford University to pursue their entrepreneurial dreams. "At that point, we had already scaled to a couple million dollars of annualized revenue. We said here's an opportunity to raise a large amount of capital, it's got clear product market fit," Palicha told CNBC Make It. "How many people in their lifetimes get an opportunity to build a potential generational company? We figured that was just a more exciting opportunity than studying in an elite university." From 45 to 10 minutes The idea for Zepto came in July 2021 — when the childhood friends were stuck in their homes in Mumbai, right in the middle of the Covid-19 pandemic and a nationwide lockdown. At the time, demand for delivery services surged as many stayed home."Online groceries [would] take six, seven days to deliver, offline options were practically shut down or unavailable. It was incredibly difficult for us to get groceries," said Palicha, who is Zepto's CEO. "We had sort of similar conversations with our neighbors that complained about pretty much the same problem. That's when we said … why don't we try building a solution for the folks in our neighborhood?" If you look at all the other major categories of e-commerce ... you take all of them and combine them, they're a fraction of the grocery market.Aadit PalichaCo-founder and CEO, ZeptoBut Palicha and Vohra were no strangers to the instant grocery delivery business. In 2020 — at just 17 years old — they started KiranaKart, which they said delivered groceries in Mumbai in under 45 minutes."Some people were getting their deliveries [within] a 10-15 minute timeframe," Vohra said. "In terms of their retention, how much they liked the platform and how frequently they were referring to their friends, [it] was significantly higher for those people who got the deliveries in that timeframe.""Which is why we said, 'Look, maybe there's some value in exploring that.'" Zepto isn't the only quick commerce startup in India, and competition is heating up both domestically and globally. The country's online grocery market is set to be worth around $24 billion dollars by 2025, according to Redseer.ZeptoThey weren't wrong. According to research from consulting firm Redseer, India's online grocery market could be worth up to $25 billion by 2025 and that is an opportunity that was "too compelling to pass up," said Palicha."If you look at all the other major categories of e-commerce — electronics, apparel, you take all of them and combine them, they're a fraction of the grocery market," he added. Building trust and reliability In order to fulfill grocery orders in under 10 minutes, the duo established a network of dark stores, or microdistribution hubs across cities. Dark stores are are closed to the public, housing goods meant solely for online ordering."We design our network across the city, to make sure that our points of pickup are very close to population clusters in a specific neighborhood," Palicha said. In order to fulfill grocery orders in under 10 minutes, the duo established a network of dark stores, like the one above, across cities.Zepto"What ends up happening is that the average distances of our deliveries are so short, we're able to get deliveries done consistently in 10 minutes."The startup added that the average distance for its deliveries ranges from 1.7 to 2 kilometers. Other forms of hyperlocal delivery, it said, could be "2 to 2.5 times longer than that." Today, Zepto says, it operates hundreds of dark stores across 10 cities in India, with tens of thousands of delivery drivers at work. Palicha added that it is currently delivering "90 to 95%" of its orders between five and 20 minutes. But speed is not Zepto's only secret to retaining customers and building loyalty. The startup, whose name comes from zeptosecond — the smallest unit of time — claimed it is adding 100,000 new users daily. "To really retain customers for the long term, what do you really need to build is trust and reliability. Reliability comes in many ways," said Vohra, who is also the chief technology officer. "Yes, we deliver on time, but also reliability in terms of — if I ordered 10 things, I get those 10 exact things. And if I order fruits and vegetables, [they're] the highest quality possible." Keeping cash burn lowInvestors are excited about Zepto's popularity too.To date, the company had attracted $360 million dollars from investors, including Y Combinator, U.S. health-care consortium Kaiser Permanente and Nexus Venture Partners. Its latest funding round puts the company on course for a likely $1 billion valuation. Palicha said one the key drivers of Zepto's investment success is its "operating discipline." "When we went to investors this time around, we showed very, very clear paths to profitability. We went from $0 in revenue roughly a year ago to today, we're doing hundreds of millions of dollars in annualized revenue," he added. "We're still talking in terms of multiples and not percentages when it comes to our growth rate, and that's something that we're excited by."Since day one, we've been … forcing ourselves to be efficient to make every dollar last. Aadit PalichaCo-founder and CEO, ZeptoZepto claims it has managed to reduce its cash burn rate by 5 times on a per-order basis, while achieving a quarter-on-quarter revenue growth of 800%. Even so, the days of easy money for cash-burning tech companies are gone, as interest rates rise and investors demand more results. Nonetheless, the young founders remain unfazed. "We're in a position where you look at the size of our balance sheet, we effectively got capital to last us multiple years, in the context of this downturn," said Palicha. "Since day one, we've been … forcing ourselves to be efficient to make every dollar last. We're able to do more orders with the same amount of cash, we're able to acquire more customers with the same amount of cash." Zepto's founders may be young, but their conviction in their product is unwavering. "Whether it was in front of an investor, a senior executive, any government stakeholder and regulator, you realize what you're building is on the right side of what customers want," said Aadit Palicha (right).ZeptoKeeping costs lower than its competitors in the high-growth tech category has given them an edge, said the duo. "That just puts us in a position where we are able to continue growing sustainably, where other folks have been forced to … induce layoffs, essentially pull back growth plans and contract to survive in a market like this," Palicha added. Touching 'the billion mark'?Because of that difficult environment, Palicha and Vohra aren't resting on their laurels despite the fresh funding that Zepto has in the bag."The key focus now is to just build the incremental scale we need to break even in key markets. Once we have a balance sheet that is now operating in breakeven, we can start expanding into new cities with a lot more confidence and clarity," said Palicha. It was previously reported that Zepto is making $200 million to $400 million dollars in annualized revenue and the founders are now hoping to "touch the billion mark." Palicha added: "[Zepto] came out as a personal project between Kaivalya and [me] to see if we could solve a problem at a small scale in our neighborhood.""It eventually evolved into the company that we are today, which we're incredibly grateful for." Don't miss: Here’s how you can recession-proof your career, according to one CEOLike this story? Subscribe to CNBC Make It on YouTube!

They dropped out of Stanford to run a startup. Now, it's close to becoming India's next tech unicorn.

Taiwan Semiconductor Manufacturing Company (TSMC) Fab 15B, one of the company's four giga semiconductor fabrication plants, is pictured in Taichung, Taiwan, Sept. 2, 2021. REUTERS/Yimou Lee/File PhotoRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Shares of Taiwan chipmaker TSMC (2330.TW) fell as much as 2.98% on Tuesday, as investors closely watch a possible trip to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi later in the day which has angered China.The main benchmark share index (.TWII) fell more than 2%.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

TSMC shares fell as much as 2.98% ahead of possible Pelosi visit to Taiwan.

Graham Stephan is on track to make more than $6 million this year, and he's finally allowing himself to open up his wallet.For years, the 31-year-old YouTuber cut costs anywhere he could, eschewing everything from designer clothes to coffee shops. "No one is more frugal than me," he said an interview with CNBC Make It in 2019.Two years later, however, Stephan has adjusted his philosophy slightly. Though he says he's "still really frugal" and refuses to ever buy coffee out of the house, he now spends much more money than he used to, including on things that his younger self would have never splurged on.In the past, Stephan exclusively filmed his YouTube videos in the early morning or late evening because he didn't want to buy an air conditioner for his office. But now, he keeps several air conditioners running in his new Las Vegas home at all times."I remember [in 2019] the contractor gave me a quote to put in an AC unit in the garage. I think it was like $3,000. I thought to myself 'Well, I could just film in the morning anyway, I could film at night,'" he says. "That was so stupid of me and I wish I had just splurged that extra $3,000."It's not just comfort that Stephan has decided is worth investing in. Because he works around 10 hours a day on his five different YouTube channels, Stephan also uses his money to buy back his time."This is a shift that probably happened for me about a year ago when I was overworked and taking on too much," he says.Instead of doing everything himself, he spends $130 to have a technician come once a month to maintain his swimming pool and splits $250 a month evenly with his girlfriend, Macy, to hire a cleaning person for the house. He says that the expenses are worth it to have more time to relax or put back into his work."[A cleaner is] able to do so much more in two to three hours [and] I'm able to go and do so many other things," he says.Stephan is also more willing to eat out or get food delivered after long days. "If that means I can save an hour and Macy doesn't have to cook, that to me is 100% worth it to pay that delivery fee or pay for food from a restaurant," he says.Now that he lives in Las Vegas, Stephan even allows himself to visit a casino every now and then, though he has very strict rules for his gambling and never bets more than $100 or $200 in a single day."If I go to the casino, I do the same mathematics as I do for purchasing anything and I think about what game gives the best chance at me making money," he says. He avoids games such as slots, which have a high house advantage, and instead sticks to blackjack, baccarat and craps. "I have a thing where if I double my money I will always walk away. I think this last month I'm up $700."Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Kevin O'Leary explains why he isn't leaving all his money to his kids

A 31-year-old 'frugal' millionaire explains why he decided to start spending more money.

The loss of confidence in China's property sector could feed into a contagion that would further drag down the Chinese economy, analysts warned.The comments come after beleaguered developer China Evergrande Group failed to deliver a promised $300 billion restructuring plan over the weekend.In filings with the Hong Kong stock exchange, Evergrande instead said it had "preliminary principles'' in place for the restructuring of its offshore debts. It also said one of its subsidiaries, Evergrande Group (Nanchang), had been ordered to pay an unnamed guarantor 7.3 billion yuan ($1.08 billion) for failing to honor its debt obligations."For the government, the priority is to break the negative feedback loop that features the high leverage ratio and the liquidity crunch on the part of the developers," Shuang Ding, Standard Chartered chief economist for Greater China and North Asia, told CNBC's "Street Signs Asia.""That leads to a mortgage boycott and very low appetite on the part of the homebuyer, and that goes back to the developer because low sales affect its liquidity."Read more about China from CNBC ProChina is facing a mortgage repayment revolt, with homeowners across 22 cities refusing to pay their loans on unfinished housing projects."So if this problem is not handled properly, it will have a profound impact on the economy, including the government balance sheet, the banks' balance sheet as well, and households," Ding said.Ding said the problems in China's property sector threaten a crucial foundation of a sturdy economy: market confidence.Land sales, which make up a dominant portion of provincial government revenue, have fallen 30% in the past year.The economist said Beijing should ringfence the issues in the property sector and deal with them holistically, rather than with a piecemeal approach, with an aim to avoid mass insolvencies. Dan Wang, Hang Seng Bank's chief China economist, said the government can do this by making sure the companies in trouble have enough money to finish building half-started homes or complete a sold project. The Chinese politburo last week signaled the country could miss its 5.5% GDP growth target for the year, while new data showed China's factory activity contracted unexpectedly in July after bouncing back from Covid-19 lockdowns in June. While Beijing is taking the property sector crisis seriously, it is unlikely the Evergrande crisis will be resolved anytime soon and may never be resolved at all, CreditSights' co-head of Asia-Pacific research Sandra Chow said. "I think it's going to take a long time for investors to get confidence not just in Evergrande, but in the China property sector as a whole," Chow said."China's property market is in difficulty, still, despite all the easing measures and asset values are still falling, especially in the lower tier regions as well. So it's going to be very difficult to rebuild confidence."

China's economy could be dragged down by loss of confidence in property sector.

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - The dollar continued its decline on Tuesday, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies. read more The greenback fell as low as 130.595 yen in early trading, its lowest since June 6, and was last down 0.55% , leaving it down 4% in the past four sessions.Register now for FREE unlimited access to Reuters.com"Its the same old story with the yen being very sensitive to the gap between U.S. and Japanese government bond yields. Of course Japanese ones aren't moving because of Japan's yield curve control policy, but U.S. yields have dropped a lot," said Redmond Wong, market strategist at Saxo Markets Hong KongThe benchmark 10-year Treasury yield fell to 2.53%, its lowest since April, in early trade on Tuesday. Investors are beginning to position themselves for the U.S. Federal Reserve to pivot away from raising interest rates aggressively to combat inflation and towards worrying more about an economic slowdown. {US/]Wong, who said this repricing of expectations for Fed rate hikes was probably overdone, added that somewhat lower energy prices were also helping the yen, since Japan was a net importer of energy. The currency was also benefiting from some safe-haven flows due to worries about Pelosi's visit.China's offshore yuan touched 6.7957 per dollar on Tuesday, its weakest since mid-May. Wong attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The Taiwan dollar slipped to its lowest levels in more than two years, falling past 30 per U.S. dollar. (.TWII)The greenback was also weaker generally, with sterling at $1.2256, just off a five-week peak hit overnight, and the euro was also on the front foot at $1.0294.This sent the dollar index , which measures the greenback against six peers, to 105.03 in early trade, a one-month low.Elsewhere, the Australian dollar was holding just above $0.7 ahead of a central bank meeting at which analysts are expecting a third consecutive half-point interest rate increase. read more Bitcoin was steady at $23,250.Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Yen recovery continues on lower U.S. yields; markets on edge over Pelosi.

A photo of Al Qaeda's new leader, Egyptian Ayman al-Zawahiri, is seen in this still image taken from a video released on September 12, 2011. SITE Monitoring Service/Handout via REUTERS TVRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of "careful patient and persistent" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden."We were able to build a pattern of life through multiple independent sources of information to inform the operation," the official said.Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden "asked detailed questions about what we knew and how we knew it" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized "a precise tailored air strike" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called "hellfire" missiles.Register now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

How the CIA identified and killed Al-Qaeda leader Zawahiri.

SummaryJoined Muslim Brotherhood as a teenagerFrom a respected Cairo familyTook over al Qaeda after death of bin LadenWielded influence as ideologue, strategistLacked bin Laden's charismaDUBAI, Aug 1 (Reuters) - Ayman al-Zawahiri succeeded Osama bin Laden as al Qaeda leader after years as its main organiser and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire sizeable attacks on the West.Zawahiri, 71, was killed in a U.S. drone strike, U.S. President Joe Biden said on live television on Monday evening. U.S. officials said the attack took place on Sunday in the Afghan capital Kabul. read more In the years following bin Laden's death in 2011, U.S. air strikes killed a succession of Zawahiri's deputies, weakening the veteran Egyptian militant's ability to coordinate globally.Register now for FREE unlimited access to Reuters.comHe had watched as al Qaeda was effectively sidelined by the 2011 Arab revolts, launched mainly by middle-class activists and intellectuals opposed to decades of autocracy.Despite a reputation as an inflexible and combative personality, Zawahiri managed to nurture loosely affiliated groups around the world that grew to wage devastating insurgencies, some of them rooted in turmoil arising from the Arab Spring. The violence destabilised a number of countries across Asia, Africa and the Middle East.But al Qaeda's days as the centrally directed, hierarchical network of plotters that attacked the United States on Sept. 11, 2001, were long gone. Instead, militancy returned to its roots in local-level conflicts, driven by a mix of local grievances and incitement by transnational jihadi networks using social media.Zawahiri's origins in Islamist militancy went back decades.The first time the world heard of him was when he stood in a courtroom cage after the assassination of Egyptian President Anwar al-Sadat in 1981."We have sacrificed and we are still ready for more sacrifices until the victory of Islam," shouted Zawahiri, wearing a white robe, as fellow defendants enraged by Sadat's peace treaty with Israel chanted slogans.Zawahiri served a three-year jail term for illegal arms possession, but was acquitted of the main charges.A trained surgeon - one of his pseudonyms was The Doctor - Zawahiri went to Pakistan on his release where he worked with the Red Crescent treating Islamist mujahideen guerrillas wounded in Afghanistan fighting Soviet forces.During that period, he became acquainted with bin Laden, a wealthy Saudi who had joined the Afghan resistance.Taking over the leadership of Islamic Jihad in Egypt in 1993, Zawahiri was a leading figure in a campaign in the mid-1990s to overthrow the government and set up a purist Islamic state. More than 1,200 Egyptians were killed.Egyptian authorities mounted a crackdown on Islamic Jihad after an assassination attempt on President Hosni Mubarak in June of 1995 in Addis Ababa. The greying, white-turbaned Zawahiri responded by ordering a 1995 attack on the Egyptian embassy in Islamabad. Two cars filled with explosives rammed through the compound's gates, killing 16 people.In 1999, an Egyptian military court sentenced Zawahiri to death in absentia. By then he was living the spartan life of a militant after helping Bin Laden to form al Qaeda.A videotape aired by Al Jazeera in 2003 showed the two men walking on a rocky mountainside - an image that Western intelligence hoped would provide clues on their whereabouts.THREATS OF GLOBAL JIHADFor years Zawahiri was believed to be hiding along the forbidding border between Pakistan and Afghanistan.This year, U.S. officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location, a senior administration official said.He was killed in a drone attack when he came out on the balcony of the house on Sunday morning, the official said. No one else was hurt. Zawahiri assumed leadership of al Qaeda in 2011 after U.S. Navy Seals killed bin Laden in his hideout in Pakistan. Since then he repeatedly called for global jihad, with an Ak-47 as his side during video messages.In a eulogy for bin Laden, Zawahiri promised to pursue attacks on the West, recalling the Saudi-born militant’s threat that "you will not dream of security until we live it as a reality and until you leave the lands of the Muslims".As it turned out, the emergence of the even more hardline Islamic State in 2014-2019 in Iraq and Syria drew as much, if not more, attention from Western counter-terrorism authorities.Zawahiri often tried to stir passions among Muslims by commenting online about sensitive issues such as U.S. policies in the Middle East or Israeli actions against Palestinians, but his delivery was seen as lacking bin Laden's magnetism.On a practical level, Zawahiri is believed to have been involved in some of al Qaeda's biggest operations, helping organise the 2001 attacks, when airliners hijacked by al Qaeda were used to kill 3,000 people in the United States.He was indicted for his alleged role in the 1998 bombings of the U.S. embassies in Kenya and Tanzania. The FBI put a $25 million bounty on his head on its most wanted list.PROMINENT FAMILYZawahiri did not emerge from Cairo's slums, like others drawn to militant groups who promised a noble cause. Born in 1951 to a prominent Cairo family, Zawahiri was a grandson of the grand imam of Al Azhar, one of Islam's most important mosques.Zawahiri was raised in Cairo’s leafy Maadi suburb, a place favoured by expatriates from the Western nations he railed against. The son of a pharmacology professor, Zawahiri first embraced Islamic fundamentalism at the age of 15.He was inspired by the revolutionary ideas of Egyptian writer Sayyid Qutb, an Islamist executed in 1966 on charges of trying to overthrow the state.People who studied with Zawahiri at Cairo University’s Faculty of Medicine in the 1970s describe a lively young man who went to the cinema, listened to music and joked with friends.“When he came out of prison he was a completely different person,” said a doctor who studied with Zawahiri and declined to be named.In the courtroom cage after the assassination of Sadat at a military parade, Zawahiri addressed the international press, saying militants had suffered from severe torture including whippings and attacks by wild dogs in prison."They arrested the wives, the mothers, the fathers, the sisters and the sons in a trial to put the psychological pressure on these innocent prisoners," he said.Fellow prisoners said those conditions further radicalised Zawahiri and set him on his path to global jihad.Register now for FREE unlimited access to Reuters.comEditing by Howard Goller, Raju Gopalakrishnan and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Ayman al-Zawahiri: from Cairo physician to al Qaeda leader.

A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 2 (Reuters) - The Reserve Bank of India will hike its key interest rate on Friday, economists polled by Reuters said, but there was no consensus on the size of the move given the absence of any clear guidance from the central bank.With inflation running at a near-decade high and the rupee trading near a record low, the RBI, which only began raising rates in May, is expected to front-load subsequent hikes to catch up with its global peers.Predictions from the 63 economists polled between July 25 and Aug. 1 ranged from a 25 basis point hike to one of 50 bps when the RBI meets on Aug. 5.Register now for FREE unlimited access to Reuters.comOver 40% of economists, 26 of 63, expected the RBI to go for a hefty 50 bps hike, taking the repo rate to 5.40%. More than one-quarter of respondents, 20 of 63, forecast a smaller 35 bp hike. About 22%, 14 of 63, said 25 bps while the remaining three said 40 bps."The RBI should provide some clarity of thought, but when there's so much uncertainty, it's better not to come out with an expectation and then not able to match up to that," said Kunal Kundu, India economist at Societe Generale, who predicted a 50 bp rise.A slim majority of economists, 35 of 63, saw the repo rate already reaching 5.75% or higher by end-year, up 10 bps from a July poll, while the median expectation is for at least 6% in the second quarter of next year.The RBI has raised rates twice so far in this cycle, first catching markets off guard with a 40 bps hike at an unscheduled meeting, followed by 50 bps in June.Kaushik Das, chief economist at Deutsche Bank, said the bank hoped the RBI would agree on the merits of front-loading rate hikes."The RBI can always reduce the pace of rate hikes from September onwards if inflation and growth momentum softens, but we think it is a risky strategy at this stage to be an outlier in delivering less than 50 bp rate hikes."The outlook for next year was even less clear, with end-2023 forecasts ranging from 4.75% to 6.75%.With the RBI a relative laggard in the global tightening cycle, India has seen heavy capital outflows, which have helped drag the rupee to lifetime lows close to 80 per U.S. dollar.With the dollar expected to remain strong in the short- to medium-term, the RBI has few options to defend the rupee without burning through foreign currency reserves.Just over half of respondents, 20 of 38, who answered an additional question said the exchange rate is playing a larger than normal role in the RBI's interest rate deliberations."Front-loaded rate hikes by the RBI will be complementary to their FX intervention towards managing the rupee's exchange rate," said Sanjay Mathur, chief economist for Southeast Asia and India at ANZ.Register now for FREE unlimited access to Reuters.comReporting by Arsh Tushar Mogre; Polling by Anant Chandak and Devayani Sathyan; Editing by Hari Kishan, Ross Finley, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

RBI to raise rates in August but no consensus on size of hike: Reuters poll.

Zaporizhzhia Nuclear Power Plant is seen from an embankment of the Dnipro river in the town of Nikopol, as Russia's attack on Ukraine continues, in Dnipropetrovsk region, Ukraine July 20, 2022. REUTERS/Dmytro SmolienkoRegister now for FREE unlimited access to Reuters.comSummaryU.S. says Russia using "nuclear shield"First grain ship leaves UkraineUkraine says 22,000 Russian troops ready southern advanceForeign fighters enter Luhansk, says governorUkraine says recaptures 50 towns in KhersonUNITED NATIONS/KYIV, Aug 2 (Reuters) - The United States said Russia was using Ukraine's biggest nuclear power plant as a "nuclear shield" by stationing troops there, preventing Ukrainian forces from returning fire and risking a terrible nuclear accident.U.S. Secretary of State Antony Blinken said Washington was "deeply concerned" that the Zaporizhzhia plant, which Russia was accused of firing shells dangerously close to in March, was now a Russian military base used to fire on nearby Ukrainian forces."Of course the Ukrainians cannot fire back lest there be a terrible accident involving the nuclear plant," Blinken told reporters after nuclear nonproliferation talks at the United Nations in New York on Monday. read more Register now for FREE unlimited access to Reuters.comRussia's actions went beyond using a "human shield" Blinken said, calling it a "nuclear shield."At the New York talks, Ukraine's Deputy Foreign Affairs Minister Mykola Tochytskyi said "robust joint actions are needed to prevent nuclear disaster" and called for the international community to "close the sky" over Ukraine's nuclear power plants with air defence systems.Russian President Vladimir Putin's Feb. 24 invasion of Ukraine has sparked the biggest conflict in Europe since World War Two, killing thousands, displacing millions and leaving large parts of Ukraine in rubble.The war has also caused a global food crisis, with Russia and Ukraine producing about a one third of the world's wheat, and Western sanctions on Russia, a major energy provider to Europe, have caused a global energy crisis.FIRST GRAINS SHIPSThe first ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine five months ago left the port of Odesa for Lebanon on Monday under a safe passage deal.The sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition.The Sierra Leone-flagged ship Razoni will head to the port of Tripoli, Lebanon, after transiting Turkey's Bosphorus Strait linking the Black Sea, which is dominated by Russia's navy, to the Mediterranean. It is carrying 26,527 tonnes of corn.But there are still hurdles to overcome before millions of tonnes of Ukrainian grain depart from its Black Sea ports, including clearing sea mines and creating a framework for vessels to safely enter the conflict zone and pick up cargoes. read more The United Nations has warned of the risk of multiple famines this year due to the war in Ukraine.Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help clear the silos for the new crop.Moscow called the Razoni's departure "very positive" news, but it has denied responsibility for the food crisis, saying Western sanctions have slowed its exports and accusing Ukraine of laying underwater mines at entrance of its ports.Russia and Ukraine accuse each other of laying the mines that now float around the Black Sea, drifting far from Ukraine's shores, with Romanian, Bulgarian and Turkish military diving teams defusing those that have ended up in their waters.RUSSIAN ADVANCEMENTRussia invaded Ukraine in what it called a "special operation" to demilitarise its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war.After failing to capture the capital Kyiv early in the war, Russia now aims to capture the eastern Donbas region, made up of Donetsk and Luhansk, partially occupied by Russia-backed separatists before the invasion, and capture more of the south, having already annexed Crimea from Ukraine in 2014.Ukrainian presidential adviser Oleksiy Arestovych said in an interview posted on line about 22,000 Russian troops were preparing to advance on the cities of Kriviy Rih and Mykolaiv, where a "sufficiently large" Ukrainian force lay in wait.In Kherson region, which is mostly under Russian control, Ukrainian troops had liberated some 50 towns, said Yuri Sobolevsky, deputy head of the ousted Kherson regional council."Russian troop in Kherson region are sustaining considerable losses. There are now more than 300 in a military hospital that the Russians have set up in a civil hospital in the town of Beryslav," Sobolevsky wrote on Telegram. "About 40 doctors have been brought in from Russia to staff the hospital."Reuters was unable to verify the battlefield report.Serhiy Gaidai, governor of Luhansk region, which is nearly all under Russian control, said foreign fighters were arriving."We have noticed that more and more private military companies coming into the area -- the Wagner group," Gaidai told Ukrainian TV, adding that these irregular forces were motivated by "money and looting."Russian private military firm Wagner has likely been allocated responsibility for specific sectors of the front line in eastern Ukraine, possibly as Russia is facing a major shortage of combat infantry, Britain's Ministry of Defence said in an intelligence update on Friday.Gaidai said partisans were destroying key infrastructure, including gas and water networks, in battered Luhansk towns to slow Russian forces.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Michael Perry; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

U.S. says Russia using 'nuclear shield' in Ukraine, risks terrible accident.

A Taliban fighter stands guard near the site where Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/StringerRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of "careful patient and persistent" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden."We were able to build a pattern of life through multiple independent sources of information to inform the operation," the official said.Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden "asked detailed questions about what we knew and how we knew it" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized "a precise tailored air strike" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called "hellfire" missiles.Register now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

How the CIA identified and killed Al-Qaeda leader Zawahiri.

Soccer Football - Women's Euro 2022 - Final - England v Germany - Wembley Stadium, London, Britain - July 31, 2022 England's Georgia Stanway and Leah Williamson celebrate after winning Women's Euro 2022 REUTERS/Dylan MartinezRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - England captain Leah Williamson said the Lionesses had inspired women and young girls up and down the country as her team celebrated their Euro 2022 triumph in central London on Monday following their 2-1 extra-time win over Germany the day before.Sarina Wiegman's side showed off the trophy in front of thousands of hollering fans less than a day after they captured their first major title by eclipsing record eight-time European champions Germany at Wembley Stadium."I think England have hosted an incredible tournament and we've changed the game in this country - and hopefully across Europe and across the world," Williamson said.Register now for FREE unlimited access to Reuters.com"We said we wanted to make our legacy about winning and that's what we did."The legacy of the tournament was already made before that final game - what we've done for women and young girls who can look up and aspire to be us."Thousands of fans, many draped in England flags or wearing replica shirts, packed into the fenced off celebration area in London's Trafalgar Square, with thousands more surrounding the perimeter after queues had formed at 0700 local time.The team celebrated in style on the makeshift stage, dancing and singing and lifting the trophy, a unique sight for many young England fans. The previous England senior team success was the men's side winning the World Cup in 1966, at a time when women's football was banned in the country.Some players looked a bit bleary-eyed having been up till the early hours celebrating but still roused themselves to sing classic England anthems with the crowd and take selfies.Offices around the square opened their windows to also catch a glimpse of England's heroines who have transformed many people's perceptions of the women's game with their high quality performances and ability to draw record crowds.Full back Lucy Bronze drew huge cheers in particular when she said "there's still a lot more we can still get our hands on next year," referring to the World Cup which will be hosted in Australia and New Zealand in 2023.Register now for FREE unlimited access to Reuters.comReporting by Silvia Recchimuzzi in Gdansk and Christian Radnedge in London Editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

'Game changers' - Williamson lauds team mates as England celebrate Euros win.

Chinese and Taiwanese printed flags are seen in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Several Chinese warplanes flew close to the median line of the sensitive Taiwan Strait on Tuesday morning, a source briefed on the matter told Reuters, as tensions mounted on news U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan during the day.The source said several Chinese warships have stayed close to unofficial dividing line since Monday, adding that Taiwan had dispatched aircraft to monitor the situation.Taiwan's defence ministry was not immediately able to respond to a request for comment.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative." Neither side's aircraft normally cross the median line.The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.China claims democratically-ruled Taiwan as its own territory and has ramped up military and political pressure to try and force the island to accept Chinese rule.Taiwan rejects China's claims and vows to defend itself.Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Several Chinese warplanes fly close to median line of Taiwan Strait - source.

U.S. Secretary of State Antony Blinken makes remarks to the media during a news conference at the United Nations Headquarters in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - The Taliban "grossly" violated the Doha Agreement by hosting and sheltering al Qaeda's top leader Ayman al-Zawahiri, the U.S. Secretary of State Antony Blinken said on Monday.The United States killed leader Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more "In the face of the Taliban’s unwillingness or inability to abide by their commitments, we will continue to support the Afghan people with robust humanitarian assistance and to advocate for the protection of their human rights, especially of women and girls," Blinken said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Akriti Sharma in Bengaluru; editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Blinken says Taliban 'grossly' violated Doha agreement by sheltering al Qaeda's Zawahiri.

Chinese Ambassador to the United Nations Zhang Jun addresses a meeting of the United Nations Security Council on Russia's invasion of Ukraine, at the United Nations headquarters in New York City, New York, U.S., April 19, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - A visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would undermine China and the United States' relationship, China's U.N. Ambassador Zhang Jun said on Monday.Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it would not be intimidated by Chinese warnings to never "sit idly by" if she made the trip. read more "Such a visit is apparently very much dangerous, very much provocative," Zhang told a news conference to mark the start of China's presidency of the U.N. Security Council for August. "If such a visit happens it will also undermine the relationship between China and the United States."Register now for FREE unlimited access to Reuters.comHe also said that such a visit by Pelosi should not be compared to the last time a U.S. House speaker visited the island claimed by Beijing in 1997."An early mistake does not make the following mistake legitimate," Zhang said. "Furthermore the situation in Taiwan is also changing with the support of some external forces.""Taiwan's tendency towards independence is further developing. If we do not take appropriate, forceful action to stop it ... the situation might be even out of control," Zhang told reporters in New York.He urged Washington to honor its commitment to the one-China principle, which he said U.S. President Joe Biden reiterated during a call with Chinese leader Xi Jinping last week.Washington follows a "one-China policy" that recognizes Beijing, not Taipei, diplomatically. But it is obliged by U.S. law to provide the democratically governed Taiwan with the means to defend itself, and pressure has mounted in Congress for more explicit support.China accused the United States of double standards at the United Nations on Friday for challenging Beijing's sovereignty over Taiwan while emphasizing the principle of sovereignty for Ukraine after Russian forces invaded. read more Zhang stressed on Monday: "We will do whatever we can to defend our sovereignty and territorial integrity."Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Michael Martina; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

China says Pelosi Taiwan visit would undermine U.S.-China ties.

A newspaper front page reporting about U.S. House of Representatives Speaker Nancy Pelosi is pictured in Taipei, Taiwan, August 2, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese "sabre rattling" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative."The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.Taiwan's defence ministry was not immediately able to respond to a request for comment.Taiwan's defence ministry had "reinforced" its combat alertness level from Tuesday morning to Thursday noon, the island's official Central News Agency reported on Tuesday, citing unidentified sources. read more CNA said the alertness level of Taiwan's armed forces is roughly categorised into "peace time" and "war time", and at the moment the level stayed at peace time, but it would be "appropriately adjusted" according to the level of threat.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would arrive in Taiwan early on Wednesday."Everything is uncertain," the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office has said she will also go to South Korea and Japan, but has made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further "spurious legal claims" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday."We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated," Kirby said.The Taiwan dollar slipped to its lowest levels in more than two years on the weaker side of 30 per U.S. dollar and investor worries about a potential Pelosi visit and China's reaction appeared to be behind Tuesday's declines in China's yuan and north Asian stock markets (.TWII).'GROSS INTERFERENCE'One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Two other sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record during her stay in Taiwan, possibly on Wednesday.Chinese foreign ministry spokesperson Zhao Lijian told a regular daily briefing on Monday that it would be "a gross interference in China's internal affairs" if Pelosi visits Taiwan, and warned that "the Chinese People's Liberation Army will never sit idly by."Asked what kind of measures the PLA might take, Zhao said: "if she dares to go, then let us wait and see."China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.A video by the People's Liberation Army's Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to "stand by in battle formation, be ready to fight upon command, bury all incoming enemies."The White House has dismissed China's rhetoric as groundless and inappropriate.Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit."The speaker has the right to visit Taiwan," he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and "those who play with fire will perish by it".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.

People wait for change of traffic sign in front of a shop at Ginza shopping district in Tokyo, Japan, May 28, 2022. REUTERS/Kim Kyung-Hoon/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCommittee recommends average minimum wage hike of record 3.3%Rise reflects PM Kishida's resolve to redistribute wealthMinimum wage rise follows offer for higher pay by big firmsWage hikes must be sustainable rather than one-off -analystTOKYO, Aug 2 (Reuters) - Japan's average minimum wage is set to rise at a record pace this year, the government said on Tuesday, a positive development for Prime Minister Fumio Kishida's efforts to cushion households from global commodity inflation.The health ministry formally approved a recommendation by its sub-committee that the average minimum wage for the current fiscal year ending in March 2023 be raised by 31 yen, or a record 3.3%, from the current level to 961 yen ($7.30) per hour, two ministry officials told Reuters.Kishida is counting on the hike to drive his flagship policy of distributing wealth to broader segments of the population to put Japan's economy on a sustainable recovery path.Register now for FREE unlimited access to Reuters.comThe sub-committee's recommendation, which is made each year and serves as the nationwide standard for minimum wages, was approved as it was made by the wider committee comprising management and labour union representatives as well as academics.The decision on minimum wages followed annual spring negotiations, which saw big firms offer to raise wages by over 2% to compensate employees for cost-push inflation.Minimum wages are set by the government unlike the spring wage negotiations, in which salaries are directly set between corporate management and labour unions."Given the underlying inflation of over 2% and Japan's growth potential of around 1%, the pace of minimum wage hikes is reasonable, reflecting the premier's commitment to higher wages," said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities."What's important is to drive wages higher in a sustainable manner, rather than making it a one-off move," he said.The government set a goal to raise the median average minimum wage to 1,000 yen or higher "at the earliest date possible."Japan's average wages have barely risen since 2000 despite a tight job market as subdued inflation gave companies, many of whom are wary of increasing fixed costs, an excuse to hold off pay hikes.But that is changing as rising import costs, driven by supply constraints and the war in Ukraine, push up inflation by forcing more firms to raise the prices of goods.Japan's core consumer prices rose 2.2% in June from a year earlier, a much slower pace than in many Western economies but remaining above the central bank's target for a third straight month. read more ($1 = 131.5600 yen)Register now for FREE unlimited access to Reuters.comReporting by Tetsushi Kajimoto and Leika Kihara; Editing by Leslie Adler, Sam Holmes & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Japan's planned record minimum wage hike opens path to sustained GDP growth.

People await the start of a product launch event at Apple's new campus in Cupertino, California, U.S. September 12, 2017. REUTERS/Stephen LamRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Apple Inc is dropping its mask mandate for corporate employees at most locations, the Verge reported on Monday, citing an internal memo. (https://bit.ly/3oJ3EQN)This comes even as COVID-19 infections in the United States have been on the rise with the BA.4 and BA.5 subvariants of the Omicron variant accounting for more than 90% of infections, according to the U.S. Centers for Disease Control and Prevention.These subvariants have significant mutations from the earliest versions of Omicron and protection from vaccines wanes over time."Don't hesitate to continue wearing a face mask if you feel more comfortable doing so," the report quoted Apple as saying in the internal email. "Also, please respect every individual's decision to wear a mask or not."Apple did not immediately respond to Reuters' request for comment outside regular business hours.Register now for FREE unlimited access to Reuters.comReporting by Kanjyik Ghosh in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Apple drops mask requirements for most of its corporate workers - The Verge.

A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad, India May 19, 2016. REUTERS/Amit Dave/File PhotoRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 2 (Reuters) - Indian low-cost carrier SpiceJet Ltd (SPJT.NS) said on Tuesday it had cleared all its outstanding principal dues with the state-run airport operator Airports Authority of India (AAI), sending its shares up nearly 5%.The airline will revert to advance payment mechanism for its daily operations, and AAI will release a 500 million rupees ($6.33 million) bank guarantee, the company added.The airline has been under the spotlight lately after a slew of incidents of technical snags on its flights and one of its Dubai-based lessors asked the regulator to deregister three of SpiceJet's planes.Register now for FREE unlimited access to Reuters.comAdding to its woes, the aviation regulator last week ordered the airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags. The airline said on Monday its flight operations remained normal. read more Shares rose as much as 4.5% to 42 rupees in early trade.($1 = 78.9525 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Tanvi Mehta and Meenakshi Maidas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

SpiceJet clears all dues with Airports Authority of India, shares rise.

A view shows traffic during evening rush hour near Beijing’s Central Business District (CBD), China April 15, 2022. Picture taken April 15, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Chinese leaders told the government that this year's economic growth of about 5.5% is a guidance and not a hard target in a meeting last week, Bloomberg News reported on Tuesday citing people familiar with the matter.At the meeting, the top leaders told officials from the ministerial and provincial-level that the target will not be used to evaluate their performance, neither will there be any penalty for failing to meet the target. The leaders acknowledged that the chances of achieving the set goal are thin, the report added. (https://bloom.bg/3QbOpLH)China's State Council Information Office, which handles media queries for the central government, did not immediately respond to a Reuters request for comment.On July 28, the Chinese Politburo, after a high-level meeting, said that it would strive to achieve best possible results for economy, without mentioning the GDP target. The country will stick to "dynamic" zero-COVID policy and efforts to stabilise property markets, it had added then. read more China's economy has a taken a turn for the worse in second quarter of 2022 with factories switching back to the slow lane, a slump in the property sector deepening and job cuts still a widespread menace. Last week, the top leaders had signalled their preparedness to miss the GDP target this year. read more Register now for FREE unlimited access to Reuters.comReporting by Rachna Dhanrajani in Bengaluru; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

China leaders say 5.5% GDP growth is guidance, not hard target - Bloomberg News.

A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, July 28, 2020. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comHong Kong/SINGAPORE, Aug 2 (Reuters) - HSBC's bosses will meet retail investors on Tuesday in Hong Kong, the biggest market for Europe's largest lender, seeking to convince them their strategy to operate as a global bank is vital to boosting growth.The London-headquartered group is under pressure from its largest shareholder, Ping An Insurance Group Co of China Ltd (601318.SS), to explore options including spinning off its mainstay Asia business to increase shareholder returns. read more The informal meeting, which will discuss earnings and strategy, comes a day after HSBC rejected the break-up call, reported forecast-beating profit and promised chunkier dividends, sending its Hong Kong-listed shares to a one-month high. read more Register now for FREE unlimited access to Reuters.comHSBC's response represented its most direct defence since news of Ping An's proposal broke in April.The lender's shares dipped 0.2% in early trading on Tuesday ahead of the meeting, in a broader Hong Kong market (.HSI) that was down 3.0%.According to HSBC, the venue of the meeting is the Kowloonbay International Trade & Exhibition Centre. The third floor, where the meeting will be held, can house more than 1,000 guests without social gathering restrictions, according to the building's floor plan.Ping An, which has been building a stake in HSBC since 2017, when the bank's share price was about a third higher, has not called publicly for the break-up but has said it supports all reform proposals that could help increase the long-term value of HSBC Holdings PLC .The insurer owned 8.23% of HSBC as of early February.Hong Kong retail shareholders were particularly unhappy when HSBC scrapped its dividend in 2020 during the COVID-19 pandemic, following a request to lenders by the Bank of England."Retail shareholders would welcome any proposals that change the status quo, or boost confidence of investors in management," said shareholder Ken Lui, founder of an HSBC shareholder group."But why am I being vocal and support the spin-off proposal? Because I don't have confidence in management," he said.A Hong Kong politician has also urged HSBC to appoint Ping An's representatives to its board, and move headquarters back to Hong Kong. read more "We do worry if the Bank of England will order HSBC to suspend dividends again in the next wave of the pandemic," Christine Fong, a district council member in Hong Kong who will attend the meeting with HSBC, told Reuters."If HSBC returns to Hong Kong, it will be less affected by UK political factors and regulation."In 2016, HSBC decided to keep its headquarters in London, rejecting the option of shifting it back to its main profit-generating hub of Hong Kong after a 10-month review.HSBC Chief Executive Noel Quinn told reporters on Monday the bank is unlikely to appoint a Ping An executive to its board due to a conflict of interest."There is the potential for conflict of interest given there is an overlap in their business model with ours in terms of insurance and banking," Quinn said.Register now for FREE unlimited access to Reuters.comReporting by Selena Li and Anshuman Daga; Editing by Christopher Cushing and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

HSBC aims to soothe Hong Kong investors after rejecting break-up call from Ping An.

A general view of tanks of Brazil's state-run Petrobras oil company following the announcement of updated fuel prices at Petrobras in Brasilia, Brazil June 17, 2022. REUTERS/Ueslei MarcelinoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Brazil state-run oil company Petrobras said on Monday it started the operation that gives Portuguese unit Petrogal Brasil access to its natural gas processing units."The contract provides for Petrogal's access to the gas processing units, owned by Petrobras located in the states of Rio de Janeiro and Sao Paulo, linked to the Integrated Drainage System (SIE)," the company said in a securities filing.Register now for FREE unlimited access to Reuters.comReporting by Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

Brazil's Petrobras begins giving Portugal's Petrogal access to its gas processing units.

Test tubes labeled "Monkeypox virus positive and negative" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - U.S. President Joe Biden is set to name top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) to head the response to monkeypox, the Associated Press reported on Monday.Robert Fenton, acting administrator at FEMA who helped lead mass vaccination effort for COVID-19 in February 2021, will serve as the White House coordinator to head the monkeypox response.Fenton's deputy will be Demetre Daskalakis, the director of the CDC's HIV prevention division, the news agency reported.Register now for FREE unlimited access to Reuters.comThe duo will coordinate on "strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments," the White House told AP.The White House did not immediately respond to a request from Reuters for comment.More than 3,500 monkeypox cases have been reported in the United States since the first case was confirmed in Massachusetts on May 20.The disease, which causes flu-like symptoms and skin lesions, has been declared a global health emergency by the World Health Organization.Register now for FREE unlimited access to Reuters.comReporting by Shivani Tanna in Bengaluru; Additional reporting by Alex Alper in WashingtonOur Standards: The Thomson Reuters Trust Principles.

Biden to name FEMA, CDC officials to lead U.S. monkeypox response -AP.

Premier Su Tseng-chang of Taiwan's Executive Yuan studies bullets while attending a news conference unveiling the largest smuggling bullet case in the history of Taiwan in Taipei, Taiwan, November 9, 2020. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan's premier on Tuesday reiterated that Taiwan "warmly welcomes" foreign guests, ahead of a potential visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that China claims as its own.Taiwan "would make the most appropriate arrangements" for such guests and respect their plans, Premier Su Tseng-chang told reporters on Tuesday when asked about Pelosi's visit.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Taiwan premier 'warmly welcomes' foreign guests when asked about Pelosi visit.

A representation of virtual currency bitcoin and a U.S. one dollar banknote are seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado RuvicRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - It's been a good month for bitcoin - and we haven't said that for a while.After months of freefall, it jumped more than 17% in July, its best performance since October. Ether rose 57%, its strongest monthly gain since January 2021.The rally was in step with gains of riskier assets such as stocks as investors bet that economic weakness could deter the Fed from aggressively tightening monetary policy.Register now for FREE unlimited access to Reuters.comBitcoin's 40-day correlation to the tech-focused Nasdaq (.IXIC) now stands at 0.90 - up from 0.41 in January - where 1 means their prices move in perfect lockstep.The leading cryptocurrency has been consistently positively correlated with the Nasdaq since late November, unlike in previous years where it would routinely turn negative, meaning they moved in opposite directions.Itai Avneri, deputy CEO at cryptocurrency trading platform INX, described July's convergence as "good news"."It means institutional investors are looking at bitcoin like any other asset," he said. "When the market turns - and it will turn – these institutions will come back and invest in crypto."Gains were not limited to bitcoin, as the value of the global cryptocurrency market crept back above $1.15 trillion last month, adding over $255 billion since the end of June, CoinGecko data showed.Assets under management in digital asset investment products rose 16.9% to $25.9 billion in July, reversing June's decline of 36.8%, according to research firm CryptoCompare.However, trading has been thin - indicating plenty of investors gauge it's too early to turn bullish in a deeply uncertain macro backdrop with inflation rampant, and America and Europe staring down the barrel of a recession, not to mention the implosion of some big crypto players.Average daily volumes across all digital asset investment products fell by 44.6% to $122 million, the lowest since September 2020, CryptoCompare found."On a medium-term horizon, we're bearish (on crypto) despite the current bounce, this aligns with our stance on equities," researchers at MacroHive wrote on Friday, citing inflation, recession risks and rate hikes.A LONG WAY FROM $60,000Bitcoin is currently trading at $23,336, consolidating around the $24,000 mark after touching that level last week.It will likely continue to trade in a tight range of around $20,000, plus or minus 10% to 15%, until there is more clarity over the economy's trajectory, according to Chris Terry, vice-president at lending platform SmartFi."We could be in this stalled market for weeks and weeks."On the flip side, if the United States enters a prolonged recessionary period and the Fed is forced to cut interest rates, bitcoin could benefit, said Russell Starr, CEO of Valour, which creates exchange-traded products for digital assets."You're going to have to see another quarter of recession before you see a resumption back up to the lofty $60,000 levels," he said.For investors who dove into crypto during its surge at the height of pandemic-era easy monetary policy, the next several months could be quite bumpy, according to Adrian Kenny, senior sales trader at GlobalBlock."There is still an undoubtedly considerable mountain to climb in terms of 'normality' or the hopes of a return to the highs of 2021 anytime soon."Register now for FREE unlimited access to Reuters.comReporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru; Editing by Vidya Ranganathan and Pravin CharOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Cryptoverse: Bitcoin beats the heat in a jumpin' July.

A man wearing a protective face mask, amid the coronavirus disease (COVID-19) pandemic, walks past a screen showing Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 14, 2022. REUTERS/Kim Kyung-HoonRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Asia stocks tumbled on Tuesday as jitters about an escalation in Sino-U.S. tension with U.S. House of Representatives Speaker Nancy Pelosi set to begin a trip to Taiwan, adding to fears about the risk of global recession.U.S. long-term Treasury yields dropped to a four-month low, pulling the U.S. dollar down, amid a bid for safer assets after China threatened repercussions in the event of the visit by Pelosi to the self-ruled island, which China claims as its territory. Crude oil also sank.Meanwhile, Australian stocks pared declines and the Aussie dollar weakened after the central bank raised the key rate by an as-expected 50 basis points, with markets interpreting changes to the accompanying policy statement as dovish. read more Register now for FREE unlimited access to Reuters.comJapan's Nikkei (.N225) slid 1.54%, while Taiwan's stock index (.TWII) dropped 1.87%.Chinese blue chips (.CSI300) tumbled 2.47% and Hong Kong's Hang Seng (.HSI) lost 2.71%.However, Australia's equity benchmark (.AXJO) was just 0.23% lower, after an earlier decline of 0.7%MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) retreated 1.33%.U.S. e-mini stock futures pointed to a 0.44% lower restart for the S&P 500 (.SPX), which stumbled 0.28% overnight."We knew from the onset that (Pelosi's trip) would be a driver of risk-off sentiment in the region," said Carlos Casanova, the senior Asia economist at Union Bancaire Privee in Hong Kong."There's going to be a lot of speculation and uncertainty about what the extent of China's response will be in the short term."The week began with China, Europe and the United States reporting weakening factory activity, with that in the U.S. decelerating to its lowest level since August 2020. read more That sank crude, with Brent futures edging down to $99.27 a barrel on Tuesday after losing almost $4 overnight. U.S. West Texas Intermediate futures also eased to $93.26, extending Monday's almost $5 slide.The benchmark 10-year U.S. Treasury yield fell as low as 2.53% in Tokyo trade, the lowest since April 5, amid wagers the slowdown could spur the U.S. Federal Reserve to ease off the policy-tightening pedal. The bonds also benefited from safety-seeking demand before Pelosi's Taiwan visit.That helped the U.S. dollar slide as low as 130.40 yen for the first time since June 6. The euro jumped as high as $1.0294, a level not seen since July 5.The Taiwan dollar slipped to its lowest level in more than two years on the weaker side of 30 per U.S. dollar.Meanwhile, the Aussie was 0.51% lower at $0.69910, extending a 0.14% retreat following the Reserve Bank of Australia's policy decision.It had hit the highest since June 17, at $0.7048, in the previous session but that was after bouncing off a 26-month trough at $0.66825 in the middle of last month."The Aussie has been underperforming other major currencies lately given global growth concerns so it really needed a hawkish surprise to reignite its recovery from 2-year lows," said Sean Callow, a currency strategist at Westpac in Sydney."Instead, it got the RBA leaving the door wide open to slowing the pace of tightening at future meetings, sending AUD back below $0.70."Register now for FREE unlimited access to Reuters.comReporting by Kevin Buckland; Additional reporting by Tom Westbrook; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Asian stocks slide with U.S. yields on Pelosi jitters; Aussie drops.

The government of Mario Draghi came to an end earlier than what many analysts expected.Anadolu Agency | Anadolu Agency | Getty ImagesMario Draghi is best known for saving the euro. But a coveted rescue of the Italian economy ended prematurely when internal politics came to the fore last month, making it harder and harder for him to govern.In the space of about a week, Italy went from having a stable government to preparing for snap elections in September — which could see the far-right in charge of the next coalition in Rome. This prospect has investors questioning Italy's economic future and its broader role within European politics.Draghi "was certainly a little bit tired of the politics within the government," an official working for the Italian government, who preferred to remain anonymous due to the political instability in the country and the sensitive nature of the comments, told CNBC.Once a managing director at Goldman Sachs International, Draghi became Italian prime minister in February 2021 to lead a technocratic government, backed by four main parties across the political spectrum. His arrival in Rome was welcomed by investors and European officials, who were desperate to see a safe pair of hands leading the euro zone's third-largest economy.The former European Central Bank chief delivered on several fronts, including putting together a reform plan to get more than 190 billion euros ($194.52 billion) from the EU. The disbursements are, however, linked to the completion of these reforms, so investors fear the next coalition might not follow through with Draghi's plans, and hence may not receive all of the cash from Brussels.The prime minister also revived Covid-19 vaccination efforts and contributed to an economic rebound. But throughout his mandate, Draghi had to struggle with a slew of political sensitivities.What happened?The collapse of his government came about because of those fragilities at the heart of government. It started with the Five Star Movement (M5S), a left-leaning and populist party, boycotting a vote on a package aimed at helping Italians deal with the surging cost of living. The package included a controversial waste incinerator for Rome, which M5S vehemently rallied against.The same anonymous CNBC source said M5S has a "great following in Rome, not so much in the rest of the country, but this law was a problem for this electorate." By not voting for the wide-ranging package and blocking it, the party was in essence against the government that they were part of, the official said.Draghi offered his resignation after the stalemate on the vote.A second Italian official, who preferred to remain anonymous due to the sensitive nature of the situation, said the move from M5S was "a significant decision."Draghi had "trusted this was a national unity government," the official said. But with M5S abstaining from the vote on the government's bill, "Draghi felt [it] was becoming harder and harder to enact his program," the official added.By late evening Wednesday July 15, Italy's President Sergio Mattarella had rejected Draghi's initial resignation and told him to build a new parliamentary consensus.In the following days, hundreds of mayors had signed a letter asking him to stay. Union leaders and industrialists also come together to ask Draghi to remain in office. And there was an online petition signed by thousands of citizens who wanted him to stay.If they said yes, [Draghi] had all the power he wanted.The next week, Draghi returned to the Italian Parliament and asked lawmakers for a new mandate. "Are the parties and you parliamentarians ready to rebuild this pact?" he declared in the Senate on July 20. "Italy needs a government that can move swiftly and efficiently," he told lawmakers.The first CNBC source said they were surprised that Draghi asked for a new mandate to try to build unity once again. "To be honest, his speech was really tough against M5S and the Lega [party] ... his aim was to put it clear: if we do another government, we have to continue without problems," the source said."If they said yes, [Draghi] had all the power he wanted; if they said no, he could resign without being blamed for leaving the country," the official said.The second CNBC source stressed that Draghi was "very concerned" about being able to pass new laws in Parliament. Draghi was due to finish his mandate before next summer with parliamentary elections expected in June 2023.What's next?But Italy is now preparing for a new vote on September 25 with a lot at stake."If a right-wing coalition were to win in Italy's general election on 25 September, and subsequently abandon economic reforms, it could jeopardise not only Italy's access to EU fiscal support and the ECB's new anti-fragmentation tool, but more generally future EU integration and joint debt issuance," George Buckley, an economist at Nomura, said in a research note last week.The upcoming election will matter not only to see where Italy's finances and fiscal strategy will be heading, but also whether Europe will continue to raise new funds together.The recovery plan came about because of the impact that the coronavirus lockdowns had on the European economies. This was so significant that the 27 members of the EU decided to raise money jointly through the European Commission, the executive arm of the EU, for the first time. Italy, because it suffered the most from the pandemic, is receiving the largest chunk of the money borrowed.However, if there are problems with the political situation of the biggest benefactor, then this could stifle more joint borrowing further down the line, including when tackling climate change or the impact from Russia's invasion of Ukraine."Italy's next government is unlikely to bring the country's future in the euro-zone into doubt, in a repeat of the turmoil that we saw after the 2018 election. But it will probably run looser fiscal policy and find it more difficult to pass reforms," Jack Allen-Reynolds, senior Europe economist at Capital Economics, said in a note last week.

Draghi's political downfall: How power imploded in Italy and what happens next.

U.S. August 1, 2022 / 10:44 PM / AP Dr. Caitlin Bernard speaks out to CBS News Dr. Caitlin Bernard, doctor at the center of abortion debate, speaks out to CBS News 03:25 A Kentucky appeals court has reinstated a near-total abortion ban that took effect when the U.S. Supreme Court overturned Roe v. Wade.The ruling means most abortions are illegal in the state, for now.Attorney General Daniel Cameron asked the court for an emergency stay, which blocked a lower court's ruling. That ruling by a Louisville judge last month put two abortion bans on hold so the courts could determine if they violate Kentucky's constitution. The state's two clinics issued a media release Monday night declaring "abortion is now banned in Kentucky," and said they began canceling scheduled procedures. Volunteer clinic escorts wait for patients outside the EMW Women's Surgical Center in Louisville, Kentucky, U.S., on Tuesday, Sept. 28, 2021. Bloomberg The ruling will be appealed to the Kentucky Supreme Court. "Tonight, in one fateful moment, Kentuckians saw their reproductive freedom stolen by their elected officials," said Alexis McGill Johnson, president of Planned Parenthood Federation of America. "It is devastating and cruel. But the fight is not over."The appeals court said the ban should take effect, even if the laws are in dispute, because in Kentucky, "a statute carries with it the presumption of constitutionality."Kentucky's legislature passed a "trigger law" banning nearly all abortions, except when the health of the mother is threatened, if Roe was overturned. Lawmakers also passed a separate 6-week ban that the clinics also challenged.The lower court judge, Mitch Perry, ruled on July 22 that there is "a substantial likelihood" that Kentucky's new abortion laws violate "the rights to privacy and self-determination" protected by Kentucky's constitution. In: Abortion Kentucky Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Appeals court reinstates Kentucky's near-total abortion ban.

A person holds a booklet with illustrations of Taiwan armed forces and Chinese People's Liberation Army (PLA), during a first aid training in Taipei, Taiwan July 23, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why."Having shelter is very necessary. We don't know when a war might come and they are to keep us safe," Wu said at the venue near a Taipei subway station."War is brutal. We've never experienced it so we aren't prepared," she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency."Look at the war in Ukraine," Abercrombie Yang, a director of the Building Administration Office, told Reuters."There's no guarantee that the innocent public won't get hit," he said, adding that that was why the public had to be informed."All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists."'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter."What's important is what you bring with you, for people to stay there for a long period of time," Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion."I'm not stressed. I carry on with my life as usual. When it happens, it happens," said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

From subway stations to shopping malls, Taiwan prepares its air-raid shelters.

Ousted Pakistani Prime Minister Imran Khan gestures as he travels on a vehicle to lead a protest march in Islamabad, Pakistan May 26, 2022. REUTERS/Akhtar SoomroRegister now for FREE unlimited access to Reuters.comISLAMABAD, Aug 2 (Reuters) - Pakistan's election commission ruled on Tuesday that former Prime Minister Imran Khan's party had received illegal funds, several local TV channels said.In a case that has dragged on for years, Khan's party was accused of receiving funds from abroad, which is illegal in Pakistan.The decision could pave the way for the banning of Khan and his party from politics.Register now for FREE unlimited access to Reuters.comReporting by Asif Shahzad; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Pakistan's election commission rules former PM Khan's party received illegal funds - local media.

A BP gas station in Madrid, Spain.Sopa Images | Lightrocket | Getty ImagesLONDON — U.K. oil giant BP on Tuesday reported bumper second-quarter profits, benefitting from a surge in commodity prices.The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion.That compared with a profit of $6.2 billion in the first three months of the year and $2.8 billion for the second quarter of 2021. Analysts had expected BP to report first-quarter profit of $6.3 billion, according to Refinitiv. BP also announced Tuesday a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share.Shares of BP are up nearly 20% year-to-date.BP's results once again underscore the stark contrast between Big Oil's profit bonanza and those grappling with a deepening cost of living crisis.The world's largest oil and gas companies have shattered profit records in recent months, following a surge in commodity prices prompted by Russia's invasion of Ukraine.For many fossil fuel firms, the immediate priority appears to be returning cash to shareholders via buyback programs.Last week, BP's U.K. rival Shell reported record second-quarter results of $11.5 billion and announced a $6 billion share buyback program, while British Gas owner Centrica reinstated its dividend after a massive increase in first-half profits.Cost of living crisisEnvironmental campaigners and union groups have condemned Big Oil's surging profits and called on the U.K. government to impose meaningful measures to bring down the cost of rising energy bills.Last month, a cross-party group of U.K. lawmakers called on the government to increase the level of support to help households pay rising energy bills and outline a nationwide plan to insulate homes.A price cap on the most widely used consumer energy tariffs is expected to rise by more than 60% in October due to surging gas prices, taking average household yearly dual fuel bills to more than £3,200 ($3,845).Fuel poverty charity National Energy Action has warned that if this happens, it would push 8.2 million homes — or one-in-three British homes — into energy poverty. Fuel or energy poverty refers to when a household is unable to afford to heat their home to an adequate temperature."Clearly not everyone is struggling with the energy crisis," Sana Yusuf, energy campaigner at Friends of the Earth, said in reaction to Shell and Centrica's results. "These bumper profits will be greeted with disbelief by the millions of people across the UK who are faced with rocketing energy prices."Yusuf called on the U.K. government to impose a tougher windfall tax on energy firms. "The bulk of these profits should be used to insulate our homes and help cash-strapped households pay for their heating this winter, rather than developing more fossil fuel projects that roast the planet," Yusuf said.The burning of fossil fuels, such as oil and gas, is the chief driver of the climate crisis and researchers have found fossil fuel production remains "dangerously out of sync" with global climate targets.Speaking in June, U.N. Secretary-General Antonio Guterres called for an abandonment of fossil fuel finance, describing new funding for fossil fuel exploration as "delusional."

Oil major BP boosts dividend as quarterly profits jump on high commodity prices.

Logo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - BP (BP.L) on Tuesday reported a second quarter profit of $8.45 billion, its highest in 14 years, as strong refining margins and oil trading helped it boost its dividendand share repurchases.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase.It raised its share buyback programme to $3.5 billion for the third quarter from $2.5 billion in the previous three months, in line with its policy of using 60% of cashflow for the repurchase of its own shares.Register now for FREE unlimited access to Reuters.com"BP continues to build a track record of delivery against its disciplined financial frame," Chief Financial Officer Murray Auchincloss said in a statement.BP's underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That compares with a $6.25 billion profit in the first three months of 2022 and $2.8 billion a year earlier.Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

BP reports Q2 profit of $8.45 billion, boosts dividend.

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - The U.S. dollar slid to its lowest level in two months against the recovering Japanese yen while the Aussie dollar tumbled even after the central bank raised rates, as investors reposition for less aggressive interest rate rises globally.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies and other risk-friendly assets like stocks. read more The greenback fell as low as 130.4 yen in early trading, its lowest since June 3, and was last down 0.55% , leaving it with more than a 4% decline in the past four sessions.Register now for FREE unlimited access to Reuters.com"It's the same old story with the yen being very sensitive to the gap between U.S. and Japanese government bond yields. Of course Japanese ones aren't moving because of Japan's yield curve control policy, but U.S. yields have dropped a lot," said Redmond Wong, market strategist at Saxo Markets Hong KongThe benchmark 10-year Treasury yield fell to 2.516%, its lowest since April, on Tuesday. Investors are beginning to position themselves for the U.S. Federal Reserve to pivot away from raising interest rates aggressively to combat inflation and towards worrying more about an economic slowdown.Wong said this repricing of expectations for Fed rate hikes was probably overdone and lower energy prices were also helping the yen, since Japan was a net importer of energy. The currency was also benefiting from some safe-haven flows due to worries about Pelosi's visit.In a similar vein, the Australian dollar slipped 1% after the Reserve Bank of Australia raised rates by 50 basis points to 1.85%, in line with expectations. The bank said that even though more tightening was expected, it was not on a pre-set path. read more CBA analysts said in a note to clients that the central bank's remarks implied "a pragmatism in how the RBA will make policy decisions over the period ahead. We do not believe they are in a rush to take the policy rate much above their estimate of neutral (around 2.5%)."China's offshore yuan touched 6.7957 per dollar on Tuesday, its weakest since mid-May. Wong attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The Taiwan dollar slipped to its lowest levels in more than two years, as the dollar climbed 0.2% past the symbolic 30 level. (.TWII)The greenback was also weaker generally, with sterling at $1.225, just off a five-week peak hit overnight, and the euro was also on the front foot at $1.0274.This sent the dollar index , which measures the greenback against six peers, down 0.19% to 105.2, a one-month low.Bitcoin was touch softer at $22,900.Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing by Bradley Perrett and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Aussie tumbles after RBA, yen recovery continues on lower U.S. yields.

LONDON — European markets are set to pull back slightly on Tuesday, tracking risk-off sentiment globally as investors assess whether last month's rally has further to run.Britain's FTSE 100 is seen around 20 points lower at 7,393, Germany's DAX is set to slip by around 67 points to 13,413 and France's CAC 40 is expected to drop around 24 points to 6,413.The pan-European Stoxx 600 finished Monday's trading session fractionally lower to begin August, after closing out its best month since November 2020.Shares in Asia-Pacific retreated overnight, with mainland Chinese markets leading losses as geopolitical tensions rose over U.S. House Speaker Nancy Pelosi's possible visit to Taiwan.U.S. stock futures fell in early premarket trading after slipping lower to start the month, with not all investors convinced that the pain for risk assets is truly over.The dollar and U.S. long-term Treasury yields declined on concerns about Pelosi's Taiwan visit and weak data out of the United States, where data on Monday showed that manufacturing activity weakened in June, furthering fears of a global recession.Oil also retreated as manufacturing data showed weakness in several major economies.Earnings remain a key driver of individual share price movement. BP, Ferrari, Maersk and Uniper were among the major European companies reporting before the bell on Tuesday.The first Ukrainian ship — bound for Lebanon — to carry grain through the Black Sea since the Russian invasion left the port of Odesa on Monday under a safe passage deal, offering some hope in the face of a deepening global food crisis.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

European stocks set to retreat, tracking global risk-off sentiment.

A man counts Indian currency notes inside a shop in Mumbai, India, August 13, 2018. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comMUMBAI, Aug 2 (Reuters) - The Indian rupee jumped to a one-month high on Tuesday, as falling U.S. Treasury yields and easing bets of aggressive Federal Reserve monetary action amid recession fears kept the dollar under pressure.The partially convertible rupee was trading around 78.87 per dollar, as of 0425 GMT, hitting its strongest level since July 1. On Monday, it had closed at 79.02."Diminishing odds for more aggressive Fed rate hikes continue to weigh on the dollar," said Kunal Sodhani, assistant vice president at Global Trading Center, FX and Rates Treasury at Shinhan Bank.Register now for FREE unlimited access to Reuters.com"Brent crude prices heading below $100 per barrel, along with the comeback of foreign institutional investor equity inflows, are assisting the rupee."Sliding U.S. Treasury yields also dragged on the dollar, as investors bought safe-haven assets such as bonds on fears that U.S. Speaker Nancy Pelosi's visit to Taiwan would ratchet up tensions between Beijing and Washington.Markets were already worried about major economies China, Japan and the United States reporting weak factory activity data at the start of the week.Investors now await the Reserve Bank of India's monetary policy decision on Friday where the central bank is expected to raise its key interest rate.However, there was no consensus among analysts on the size of the move given the absence of any clear guidance from the central bank, according to a Reuters poll. Predictions from the 63 economists polled by Reuters ranged from a 25-bp to 50-bp hike. read more Register now for FREE unlimited access to Reuters.comReporting by Anushka Trivedi in Mumbai; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Indian rupee hits 1-month high as Treasury rally, recession fears weigh on dollar.

Politics August 1, 2022 / 10:06 PM / CBS News Primary elections in five states Tuesday Primary elections will take place in five states on Tuesday 06:07 Former President Donald Trump on the eve of the Missouri primaries gave his much-coveted endorsement in the Republican primary for Missouri's open Senate seat, but there was some confusion about who had been selected."I trust the Great People of Missouri, on this one, to make up their own minds, much as they did when they gave me landslide victories in the 2016 and 2020 Elections, and I am therefore proud to announce that ERIC has my Complete and Total Endorsement!" Trump wrote in a statement Monday night.And with that, Trump apparently eliminated anyone in the field of 19 who is not named Eric. There are two leading candidates who share the first name: Attorney General Eric Schmitt and former Attorney General Eric Greitens, and one candidate trailing them. The semi-endorsement came as Schmitt has broken ahead in recent polls, including one by Emerson College released in late July where he led Rep. Vicky Hartzler by 12 points. Greitens was third in that poll. Former President Donald Trump speaks at a ‘Save America’ rally in support of Arizona GOP candidates on July 22, 2022 in Prescott Valley, Arizona. Arizona's primary election will take place August 2. Mario Tama / Getty Images Greitens, a controversial candidate who resigned in 2018 after a sex scandal and misuse of campaign funds, has been dropping in the polls since June after more than $11 million has been spent on the airwaves by outside groups to keep him from winning the primary and potentially putting this state at play in November's general election. Earlier this year, Greitens' ex-wife has also claimed he abused her and their son, allegations that the Greitens campaign has denied. Sheena Greitens repeated the allegations on Twitter on Monday. Shortly after Trump's statement, both Greitens and Schmitt claimed to have Trump's full support. "President Trump has looked at the candidates and all that's at stake in this race, and he has given me his COMPLETE AND TOTAL ENDORSEMENT!" read a campaign fundraising email from Schmitt."Honored to have the support of President Trump! We will MAGA! " Greitens tweeted. Greitens also has ties to Donald Trump Jr. and Kimberly Guilfoyle, and he tweeted a video of Guilfoyle backing him. Making matters more complicated, there is a third Eric in the race: Eric McElroy. In a statement, Hartzler said "Congrats to Eric McElroy. He's having a big night."Trump said in July that he explicitly would not endorse Hartzler. Aaron Navarro Aaron Navarro is an associate producer for the political unit at CBS News, focusing on House and gubernatorial campaigns as well as the census and redistricting. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Trump endorses "ERIC" in Missouri GOP Senate primary. There's more than one Eric in the race.

Chinese and Taiwanese printed flags are seen in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Several Chinese warplanes flew close to the median line of the sensitive Taiwan Strait on Tuesday morning, a source briefed on the matter told Reuters, as tensions mounted on news U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan during the day.The source said several Chinese warships have stayed close to unofficial dividing line since Monday, adding that Taiwan had dispatched aircraft to monitor the situation.Taiwan's defence ministry was not immediately able to respond to a request for comment.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative." Neither side's aircraft normally cross the median line.The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.China claims democratically-ruled Taiwan as its own territory and has ramped up military and political pressure to try and force the island to accept Chinese rule.Taiwan rejects China's claims and vows to defend itself.Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Several Chinese warplanes fly close to median line of Taiwan Strait - source.

BondsPublished Tue, Aug 2 20223:02 AM EDTThe moves come at a time when many investors are questioning whether the Federal Reserve will have to reduce the pace of monetary tightening, given that several economic readings have shown the United States economy is slowing down.Investors are also monitoring Tuesday U.S.-China relations as Pelosi is expected to meet with Taiwanese officials despite objections from China.On the data front, there will be new job numbers, rental vacancy rates and homeowner figures at 10 a.m. ET. Chicago Fed President Charles Evans is also due to speak at that time. St. Louis Fed President James Bullard is addressing an audience at 6:45 p.m. ET.

U.S Treasury yields move lower ahead of Pelosi's expected Taiwan visit.

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/Register now for FREE unlimited access to Reuters.comSYDNEY, Aug 2 (Reuters) - Australia's central bank on Tuesday raised interest rates for a fourth month running, but tempered guidance on further hikes as it forecast faster inflation but also a slowdown in the economy.Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) lifted its cash rate by 50 basis points to 1.85%, marking an eye-watering 175 basis points of hikes since May in the most drastic tightening since the early 1990s.Yet, RBA Governor Philip Lowe also made the outlook for policy more conditional.Register now for FREE unlimited access to Reuters.com"The Board expects to take further steps in the process of normalising monetary conditions over the months ahead, but it is not on a pre-set path," said Lowe.That was taken as a dovish move by markets given Lowe had repeatedly stated the RBA Board wanted to get rates to a neutral level of at least 2.5%, where it theoretically would neither stimulate nor retard economic growth.Investors reacted by knocking the local dollar down 0.9% to $0.6963 , while three-year bond futures climbed 11 ticks to 97.280 as the market trimmed bets on how far and fast rates would ultimately rise.Swap markets lengthened the odds on another half point hike in September and shifted to imply a peak of around 3.31%, down from 3.41% before the RBA statement."The statement was on the dovish side of expectations, suggesting that the discussion at the September meeting may well move back to the 25bp or 50bp debate," said Adam Cole, a strategist at RBC Capital Markets.Lowe also updated the RBA's economic forecasts, saying consumer price inflation was expected to peak around 7.75% compared to 7% previously and 6.1% in the June quarter.Inflation was not seen returning to the top of the RBA's 2-3% target band until 2024.Forecasts for economic growth were downgraded to 3.25% over 2022 and 1.75% in each of the following years. Previously the bank had forecast growth of 4.2% in 2022 and 2.0% in 2023.KEEPING AN EVEN KEELLowe had argued the economy could withstand the pain with unemployment at 48-year lows of 3.5% and job vacancies at all-time highs. Household demand has fared relatively well, thanks in part to A$260 billion ($178.59 billion) in extra savings amassed during pandemic lockdowns.Yet, higher borrowing costs are proving a heavy drag on spending power given households owe A$2 trillion in mortgage debt and home values are now in sharp retreat after a bumper 2021. read more The hikes delivered so far will add around A$560 a month in repayments to the average A$620,000 mortgage, and that is on top of surging bills for energy and food.Lowe has come in for some criticism over the rapid series of hikes with one local tabloid calling for him to quit his job.Treasurer Jim Chalmers has defended the central bank's independence, though he recently launched a review of policy making and the Board to see if it needed modernising.Lowe himself on Tuesday conceded the bank was walking a "narrow path" between taming inflation and keeping the economy on an "even keel".Register now for FREE unlimited access to Reuters.comReporting by Wayne Cole; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Australia's central bank hikes rates, says policy not on pre-set path.

SummaryZawahiri tracked to safe house in KabulHit by Hellfire missile while standing on balcony"This terrorist leader is no more" - BidenTaliban "grossly violated" Doha Agreement - BlinkenKABUL/WASHINGTON, Aug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a "precision" strike in the centre of Kabul, the Afghanistan capital, President Joe Biden said, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri was killed when he came out on the balcony of his safe house in Kabul on Sunday morning and was hit by "hellfire" missiles from a U.S. drone.Register now for FREE unlimited access to Reuters.com"Now justice has been delivered, and this terrorist leader is no more," Biden said in remarks from the White House on Monday. "No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out."He said he had authorised the precision strike in downtown Kabul and that no civilians were killed.Three spokespeople in the Taliban administration in Kabul declined comment on Zawahiri's death.Taliban spokesperson Zabihullah Mujahid had previously confirmed that a strike took place in Kabul on Sunday and strongly condemned it, calling it a violation of "international principles."A spokesperson for the interior ministry said a house was hit by a rocket in Sherpoor, an upscale residential neighbourhood of the city which also houses several embassies."There were no casualties as the house was empty," Abdul Nafi Takor, the spokesperson, said.Taliban authorities threw a security dragnet around the house in Sherpoor on Tuesday and journalists were not allowed nearby.A senior Taliban official told Reuters that Zawahiri was previously in Helmand province and had moved to Kabul after the Taliban took over the country in August last year.U.S. intelligence determined with "high confidence" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters."Zawahiri continued to pose an active threat to U.S. persons, interests and national security," the official said on a conference call. "His death deals a significant blow to al Qaeda and will degrade the group's ability to operate."Zawahiri succeeded bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire devastating attacks on the West. read more There were rumours of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.SANCTUARYOsama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/File Photo The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.His death also raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country."The Taliban will have to answer for al-Zawahiri's presence in Kabul, after assuring the world they would not give safe haven to al-Qaeda terrorists," Adam Schiff, chairman of the House Permanent Select Committee on Intelligence, said in a statement.U.S. Secretary of State Antony Blinken said the Taliban had "grossly violated" the Doha Agreement between the two sides by hosting and sheltering Zawahiri.Former President Barack Obama joined lawmakers in praising the operation."Tonight’s news is also proof that it’s possible to root out terrorism without being at war in Afghanistan," Obama said in a Twitter message. "And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al Qaeda."Reuters GraphicsRepublican U.S. Senator Marco Rubio said: “The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests." saidUntil the U.S. announcement, Zawahiri had been rumoured variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumours that he had died.The senior U.S. official said finding Zawahiri was the result of persistent counter-terrorism work. The United States found out this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said."Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house," the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinize the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25 he received an updated report and authorized the strike once an opportunity was available, the administration official said.With other senior al Qaeda members, Zawahiri is believed to have plotted the October 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan’s Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle, Matt Spetalnick in Washington, Jibran Ahmad in Peshawar and Reuters staff in Kabul; Writing by Raju Gopalakrishnan; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Al Qaeda leader Zawahiri killed in U.S. drone strike in downtown Kabul.

A2 milk is seen on a supermarket shelf in Singapore April 16, 2018. Picture taken April 16, 2018. REUTERS/Thomas White/Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Shares of New Zealand's a2 Milk Co Ltd (ATM.NZ) jumped more than 12% before trading in the stock was halted, after local media reported that the dairy company was close to winning an approval to sell baby formula in the United States.A2 dismissed the report. The company had in May confirmed an application to the U.S. Food and Drug Administration (FDA) seeking permission to supply baby food to the country. read more A2 Milk's stock price shot up as much as 12.2% to NZ$5.60 to hit its highest level since April 5. Australia-listed shares of the firm jumped nearly 12% to A$5.08, before eventually being halted.Register now for FREE unlimited access to Reuters.comThe media report suggested that FDA approval could be received "as soon as this week.""While we have been informed by the FDA that our application is under active review, at this stage there is no certainty as to the outcome of the application or the timing of any approval," the company said in a statement.Dairy companies in Australia and New Zealand have queued up to restock empty shelves in the United States with baby food, after the country recently relaxed its import policy to mitigate one of the biggest infant formula shortages in recent history.But barring Bubs Australia (BUB.AX), which has already shipped baby food to the U.S. in several batches, others such as Fonterra (FCG.NZ) and privately run Bellamy's Organic are yet to provide an update on the status of their respective FDA applications.French consumer goods company Danone (DANO.PA) said recently it had shipped more than 750,000 cans of its flagship Aptamil baby formula to the United States. read more Register now for FREE unlimited access to Reuters.comReporting by Harish Sridharan in Bengaluru Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

A2 Milk jumps before halt on FDA nod news, denies report.

A newspaper front page reporting about U.S. House of Representatives Speaker Nancy Pelosi is pictured in Taipei, Taiwan, August 2, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese "sabre rattling" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative."The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.In a statement on Tuesday, Taiwan's Defence Ministry said it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to "enemy threats".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour over the prospect of unification with Taiwan, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would only arrive in Taiwan early on Wednesday."Everything is uncertain," the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further "spurious legal claims" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday."We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated," Kirby said.'GROSS INTERFERENCE'Four sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record on Wednesday afternoon.The meeting is likely to take place at the National Human Rights Museum at New Taipei City, according to a source with direct knowledge of the matter.On Monday, Chinese foreign ministry spokesperson Zhao Lijian said it would be "a gross interference in China's internal affairs" if Pelosi visits Taiwan, and warned that "the Chinese People's Liberation Army will never sit idly by."Asked what kind of measures the PLA might take, Zhao said: "if she dares to go, then let us wait and see."China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'RIGHT TO VISIT'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit."The speaker has the right to visit Taiwan," he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and "those who play with fire will perish by it".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.

U.S. Secretary of State Antony Blinken spoke of fears over a nuclear accident in Ukraine. He told reporters late Monday that there are "credible reports" that Russia "is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant."Meanwhile, the first shipment of grain exports from Ukraine in months departed Monday from the port of Odesa. Ukrainian President Volodymyr Zelenskyy called the shipment a "positive signal."BP's Gelsenkirchen plant no longer uses Russian crudeShares of BP are up over 20% year-to-date.Sopa Images | Lightrocket | Getty ImagesAmid its second-quarter earnings update Tuesday, BP CEO Bernard Looney said that the firm's refinery in Gelsenkirchen, Germany, no longer uses Russian crude, down from 50%.Oil majors have been one of many sectors that have cut or significantly reduced their exposure to Russia following its invasion of Ukraine.Back in late February, BP announced it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company.— Matt ClinchUS 'deeply concerned' of Russian control of Ukrainian nuclear facilities, Blinken saysU.S. Secretary of State Antony Blinken speaks at the tenth annual review of the Nuclear Non-Proliferation Treaty at U.N. headquarters on August 01, 2022 in New York City.Spencer Platt | Getty ImagesSecretary of State Antony Blinken said the U.S. is "deeply concerned" about reports that Russian forces have taken over nuclear facilities in Ukraine."There are credible reports, including in the media today, that Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant," Blinken told reporters at the United Nations, adding that this was "the height of irresponsibility.""And of course, the Ukrainians cannot and will not fire back, lest there be a terrible accident involving a nuclear plant," he said.Blinken said that it was important that the International Atomic Energy Agency be granted access to nuclear facilities in order to safeguard against an accident.— Amanda MaciasGermany argues over nuclear shutdown amid gas supply worriesSteam rises from the cooling tower of the nuclear power plant (NPP) Isar 2 in Essenbach Germany.Armin Weigel | Picture Alliance | Getty ImagesRising concern over the impact of a potential Russian gas cutoff is fueling the debate in Germany over whether the country should switch off its last three nuclear power plants as planned at the end of this year.The door to some kind of extension appeared to open a crack after the Economy Ministry in mid-July announced a new "stress test" on the security of electricity supplies. It's supposed to take into account a tougher scenario than a previous test, concluded in May, that found supplies were assured.Since then, Russia has reduced natural gas supplies through the Nord Stream 1 pipeline to Germany to 20% of capacity amid tensions over the war in Ukraine. It cited technical issues that Germany says are only an excuse for a political power play. Russia recently has accounted for about a third of Germany's gas supply, and there are concerns it could turn off the tap altogether.The main opposition Union bloc has made increasingly frequent demands for an extension of the nuclear plants' lives. Similar calls are coming from the smallest party in Chancellor Olaf Scholz's coalition government, the pro-business Free Democrats.— Associated PressMacron tells Zelenskyy that Russian war crimes will not go unpunishedFrench President Emmanuel Macron says he's in favor of a price cap on Russian oil as he speaks to the media on the third and final day of the G7 summit at Schloss Elmau on June 28, 2022 near Garmisch-Partenkirchen, Germany.Sean Gallup | Getty Images News | Getty ImagesFrench President Emmanuel Macron told Ukrainian President Volodymyr Zelenskyy in a phone call that war crimes committed by Russian forces will "not go unpunished.""While war crimes are multiplying, the President of the Republic reaffirmed his support for the Ukrainian people and their resistance and declared his determination to ensure that these crimes do not go unpunished," a French presidential office source wrote in a readout of the call.During the call, the 36th exchange between the two leaders since Russia's war in Ukraine began, Macron said that France would send a team of forensic experts and a mobile DNA analysis laboratory to Ukraine.— Amanda MaciasRead CNBC's previous live blog here:

U.S. fears Russia is using a 'nuclear shield' in Ukraine; Zelenskyy calls grain shipment a 'positive signal'.

Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/Register now for FREE unlimited access to Reuters.comSummaryCompaniesNow expects 2022 EBITDA around $37 bln versus $30 bln previouslyQ2 revenue $21.7 bln (forecast: $19.7 bln)Q2 underlying EBITDA $10.3 bln (forecast: $8.2 bln)Shares up 3.3% in early tradeCOPENHAGEN, Aug 2 (Reuters) - Shipping group Maersk (MAERSKb.CO) on Tuesday raised its 2022 profit guidance after beating second-quarter revenue expectations as congested global supply chains boosted freight rates.The shipping industry has seen record profits in recent quarters on a surge in consumer demand and pandemic-related bottlenecks in U.S. and Chinese ports which have prompted a spike in freight rates."Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated," the Copenhagen-based company said in a statement.Register now for FREE unlimited access to Reuters.comMaersk, often seen as a barometer for global trade, said it now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier.The guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year. read more Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures. read more Shares in Maersk opened 3.3% higher, trading at their highest level since early June, but down around 19% from an all-time high hit in mid-January.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts."The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping)," the company said.Maersk is due to publish a full set of results for the second quarter on August 3.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Maersk lifts 2022 guidance as congested supply chain boosts rates.

Conservative leadership candidate Liz Truss speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - The frontrunner to become British prime minister, Liz Truss, said she would scrap plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar and would not impose any new levies on unhealthy food.Britain already taxes sugar in soft drinks, and in May delayed until October next year rules banning deals such "buy one get one free" on food and drink high in fat, salt or sugar due to the cost-of-living crisis. read more "Those taxes are over," Truss said in an interview with the Daily Mail. "Talking about whether or not somebody should buy a two-for-one offer? No. There is definitely enough of that."Register now for FREE unlimited access to Reuters.comTruss said Britons wanted the government to focus on things like delivering good transport links, communications infrastructure and cutting National Health Service waiting lists."They don’t want the government telling them what to eat," she said.The ban was also due to include restrictions on free refills for soft drinks in restaurants. Limits on the location of unhealthy foods in shops are still due to go ahead in October.Opinion polls of Conservative Party members, who will elect their new leader and the country's next prime minister, show Truss is leading her rival former finance minister Rishi Sunak ahead of a result due on Sept. 5.The chairman of Britain's biggest supermarket group Tesco (TSCO.L), John Allan, in June criticised Prime Minister Boris Johnson's government for not being consistent on policy, including over anti-obesity measures. read more Register now for FREE unlimited access to Reuters.comReporting by Kylie MacLellan. Editing by Andrew MacAskillOur Standards: The Thomson Reuters Trust Principles.

UK leadership candidate Truss: junk food taxes "are over".

CBS Evening News August 1, 2022 / 9:47 PM / CBS News Los Angeles port sounds alarm over cargo backlog Los Angeles port sounds alarm over cargo backlog 02:23 Just as retailers are starting to gear up for the holiday season, there are warnings of a possible nationwide shipping logjam. A shortage of rail workers, not enough rail cars and importers failing to pick up their goods are causing cargo to pile up once again at the Port of Los Angeles — a key link in the U.S. supply chain.Port director Gene Seroka said containers are already piling up and clogging the docks."There are about 35,000 containers that are designated for rail on our docks right now," he said. "A normal day looks more like 9,000 units." Seroka said that ships could be backed up again in four to six weeks if nothing is done about the containers.Ben Nolan, an analyst specializing in transportation at Stifel Financial, said that over the last three years, railroads have lost 20% of their employees. "A lot of that is because they cut their own workforce," he said. "When you're hyper-efficient, you're ill-prepared for unexpected things like pandemics."Nolan said railroads tried to streamline operations with a practice called "precision scheduled railroading," which sometimes uses shorter trains.Union Pacific Operations Vice President Eric Gehringer said the railroad has hired hundreds of new employees."We're handling that volume," he told CBS News. "Resources beyond the railroad, that's where we need to see gains." The rails move containers inland where merchandise is then transferred and delivered. But with truck driver shortages and a glut of goods arriving — there is nowhere to offload the containers."The warehouses are full," Nolan said."It all begins with the importer picking up their cargo inland a little bit faster," Seroka said.But the system could also fall apart quickly.Dockworkers at the port told CBS News they've been without a contract for a month, and rail workers said they're at the "dead end" after two years of negotiations. The White House recently assembled an emergency team to help railroads avoid a strike. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

"The warehouses are full": Cargo begins clogging Port of Los Angeles amid railroad worker shortage.

U.S. House of Representatives Speaker Nancy Pelosi waves after attending a meeting with Malaysia's Parliament Speaker Azhar Azizan Harun at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese "sabre rattling" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative."The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.In a statement on Tuesday, Taiwan's Defence Ministry said it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to "enemy threats".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour over the prospect of unification with Taiwan, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would only arrive in Taiwan early on Wednesday."Everything is uncertain," the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further "spurious legal claims" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday."We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated," Kirby said.'GROSS INTERFERENCE'Four sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record on Wednesday afternoon.The meeting is likely to take place at the National Human Rights Museum at New Taipei City, according to a source with direct knowledge of the matter.On Monday, Chinese foreign ministry spokesperson Zhao Lijian said it would be "a gross interference in China's internal affairs" if Pelosi visits Taiwan, and warned that "the Chinese People's Liberation Army will never sit idly by."Asked what kind of measures the PLA might take, Zhao said: "if she dares to go, then let us wait and see."China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'RIGHT TO VISIT'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit."The speaker has the right to visit Taiwan," he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and "those who play with fire will perish by it".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.

U.S. House of Representatives Speaker Nancy Pelosi waves after attending a meeting with Malaysia's Parliament Speaker Azhar Azizan Harun at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via REUTERS Register now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - China has been in communication with the United States over U.S. House of Representatives Speaker Nancy Pelosi's expected visit to Taiwan, Chinese foreign ministry spokesperson Hua Chunying said on Tuesday.Pelosi kicked off a tour of four Asian countries on Monday in Singapore amid intense speculation that she may risk the wrath of Beijing by also visiting self-ruled Taiwan. read more Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian in Beijing, writing by Eduardo Baptista, editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

China says it is in communication with U.S. over Pelosi's expected Taiwan visit.

A person jogs past a row of residential housing in south London, Britain, August 6, 2021. REUTERS/Henry NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British house prices rose in July at the slowest monthly pace in a year and the market is likely to slow further as the cost-of-living squeeze tightens and the Bank of England keeps on raising interest rates, mortgage lender Nationwide said on Tuesday.House prices last month were 0.1% higher than in June when they rose by 0.2%. It was the weakest increase since July of last year and was below the median forecast in a Reuters poll of economists for an increase of 0.3%.In annual terms, prices were 11.0% higher than in July 2021, speeding up from growth of 10.7% in June but weaker than expected by all economists in the Reuters poll.Register now for FREE unlimited access to Reuters.comRobert Gardner, Nationwide's chief economist, said the housing market had been surprisingly buoyant so far, given the strains on households' budgets and consumer confidence plunging to a record low."We continue to expect the market to slow as pressure on household budgets intensifies in the coming quarters, with inflation set to reach double digits towards the end of the year," Gardner said.Higher BoE interest rates would also cool the market if mortgage rates rose accordingly, he said.Britain's housing market has shown signs of cooling after the surge in demand for bigger homes during the COVID-19 pandemic which was turbo-charged by a now-expired tax cut for buyers.Last week, data from the BoE showed the lowest level of new mortgage approvals in June in two years and banks and building societies are braced for the biggest fall in demand for mortgages since mid-2020. read more The BoE has raised interest rates five times since December as it tries to deal with the surge in inflation and it is expected to increase borrowing costs again on Thursday with the scale of the hike the only question for investors. read more Register now for FREE unlimited access to Reuters.comWriting by William Schomberg; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

UK house prices rise at slowest pace in a year, Nationwide says.

A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, July 28, 2020. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comHONG KONG/SINGAPORE, Aug 2 (Reuters) - HSBC's bosses will meet retail investors in Hong Kong on Tuesday, seeking to convince them that a strategy to operate as a unified bank is better for its future than a break-up mooted by top shareholder Ping An Insurance Group Co of China.The London-headquartered group is under pressure from Ping An (601318.SS) to explore options including spinning off its mainstay Asia business to increase shareholder returns. read more Hong Kong is HSBC's biggest market and represents a key investor base for the bank. Some investors in the city have been vocal in their support of Ping An's plan, making it important for Europe's largest lender to explain its position.Register now for FREE unlimited access to Reuters.comThe informal meeting, HSBC's first such in the city in three years, will discuss the bank's earnings and strategy.It comes a day after dual-listed HSBC rejected the break-up call, reported forecast-beating profit and promised chunkier dividends, in its most direct defence since news of Ping An's proposal broke in April. read more HSBC shares soared in London and Hong Kong on Monday. Ahead of the shareholder meeting on Tuesday, the Hong Kong shares fell 1.7%, in a broader market (.HSI) that was down 2.3%.According to HSBC, the venue of the meeting is the Kowloonbay International Trade & Exhibition Centre. The third floor, where the meeting will be held, can house more than 1,000 guests without social gathering restrictions, according to the building's floor plan.It was not immediately clear, though, if Hong Kong's retail shareholders have the heft to eventually force a vote on a proposal to break-up HSBC. Big institutional investors have so far not commented on the saga.Ping An, which has been building a stake in HSBC since 2017, when the bank's share price was about a third higher, has not called publicly for the break-up but has said it supports all reform proposals that could help increase the long-term value of HSBC Holdings PLC (HSBA.L).The insurer owned 8.23% of HSBC as of early February.DIVIDEND ANGSTHong Kong retail shareholders were particularly unhappy when HSBC scrapped its dividend in 2020 during the COVID-19 pandemic, following a request to lenders by the Bank of England."Retail shareholders would welcome any proposals that change the status quo, or boost confidence of investors in management," said shareholder Ken Lui, founder of an HSBC shareholder group."But why am I being vocal and support the spin-off proposal? Because I don't have confidence in management," he said.Lui declined to disclose details of his HSBC holdings, and it was not immediately clear how many bank shareholders are part of his investor group that was launched on Monday in support of HSBC's break-up.A Hong Kong politician has also urged HSBC to appoint Ping An's representatives to its board, and move its headquarters back to Hong Kong. read more "We do worry if the Bank of England will order HSBC to suspend dividends again in the next wave of the pandemic," Christine Fong, a district council member in Hong Kong who will attend the meeting with HSBC, told Reuters."If HSBC returns to Hong Kong, it will be less affected by UK political factors and regulation."In 2016, HSBC decided to keep its headquarters in London, rejecting the option of shifting it back to Hong Kong after a 10-month review.HSBC Chief Executive Noel Quinn told reporters on Monday the bank is unlikely to appoint a Ping An executive to its board due to a conflict of interest."There is the potential for conflict of interest given there is an overlap in their business model with ours in terms of insurance and banking," Quinn said.Register now for FREE unlimited access to Reuters.comReporting by Selena Li and Anshuman Daga; Editing by Christopher Cushing and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

HSBC aims to placate Hong Kong investors after rejecting break-up call from Ping An.

Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan AbidiRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 1 (Reuters) - India's largest gas distributor GAIL (India) Ltd (GAIL.NS) has started gas rationing, cutting supplies to fertiliser and industrial clients after imports were hit under its deal with a former unit of Russian energy giant Gazprom, two sources familiar with the matter said.Lower gas supplies will affect impact India's urea production, and a sustained cut would lift imports of the soil nutrient, a fertiliser industry source aware of the cuts said.Neither GAIL nor India's fertiliser ministry responded to Reuters' requests for comments.Register now for FREE unlimited access to Reuters.comGazprom Marketing and Trading Singapore (GMTS), now a subsidiary of Gazprom Germania, has failed to deliver some liquefied natural gas (LNG) cargoes to GAIL and has said it may not be able to meet supplies under their long-term deal. read more GAIL, which imports and distributes gas and also operates India's largest gas pipeline network, has cut supplies to some fertiliser plants by 10% and restricted gas sales to industrial clients to the lower tolerance limit of 10%-20%, the sources said.The state-run company is operating its petrochemical complex at Pata in northern India at about 60% capacity to save gas for other clients, they said. GAIL has advanced maintenance shutdown of some units at the 810,000 tonne-a-year plant, one of the sources added.An industrial consumer said GAIL has restricted its gas quantities to a 'take or pay level', the lowest level at which it will not attract a penalty from the customer.GAIL's measures will cut gas supplies to clients by about 6.5 million cubic meters a day, while imports under the Gazprom deal were averaging about 8.5 mcmd, a separate source said."We don't know where else we can cut supplies... Indian customers cannot afford costly spot gas," the second source said.This source said that GAIL has written repeatedly to Gazprom Germania about supplies under the deal.Last month, GAIL bought a spot LNG cargo at $38 per million British thermal units (mmBtu) for August loading, well above the level at which it was getting gas under its deal with Gazprom, at about $12-$14 per mmBtu.GAIL agreed a 20-year deal with Russia's Gazprom in 2012 for annual purchases of an average 2.5 million tonnes of LNG. Supplies under the contract began in 2018.GMTS had signed the deal on behalf of Gazprom. At the time, Gazprom Germania was a unit of the Russian state firm.However, following Western sanctions against Russia over its invasion of Ukraine, Gazprom gave up ownership of Gazprom Germania in early April without explanation and placed parts of it under Russian sanctions. (This story refiles to correct typographical error in headline)Register now for FREE unlimited access to Reuters.comReporting by Nidhi Verma; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

India's GAIL rationing gas as former Gazprom unit cuts supplies.

WASHINGTON — As House Speaker Nancy Pelosi reportedly prepares to land in Taiwan on Tuesday evening for a long-rumored official visit, her trip has exposed a rare schism between the Biden White House and the most powerful Democrat in Congress.Officially, the Biden administration has been careful to avoid directly answering questions about whether it agrees with Pelosi's decision to make the trip.But unofficially, the White House and the Pentagon have made little secret of their opposition to such a visit, which comes at a time when U.S.-China relations are the poorest they've been in decades.In late July, Biden responded to a question about Pelosi's then-rumored stop in Taiwan by saying, "The military thinks it's not a good idea right now. But I don't know what the status of it is."For weeks, American officials from the president on down have tied themselves into knots trying to talk about Pelosi's choice to visit Taiwan, and stressing that it was her decision, and hers alone.Missing the pointNow, experts say it's becoming clear that this effort missed the point. That's because schisms in Washington are effectively meaningless to the rest of the world, which has learned to view American presidents and their top allies in Congress as interchangeable stand-ins for one another on foreign policy matters.The fact that U.S. policy toward Taiwan is deliberately ambiguous only serves to make it that much more difficult to draw any meaningful distinction between what Pelosi is doing and what the White House is saying.Pelosi, a longtime China hawk, has not officially announced that she will visit the self-ruled island off the coast of mainland China, which Beijing considers a renegade province.I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy.Andrew MerthaChina Global Research Center, Johns Hopkins School of Advanced International StudiesBut after weeks of Pelosi and her office refusing to confirm the visit, citing security concerns, Taiwanese media reported Monday that Pelosi and a congressional delegation of five other House Democrats planned to spend Tuesday night in the capital, Taipei, and meet with Taiwanese leaders and members of the island's legislature on Wednesday.Beijing has been furious for months over the reported visit, which would mark the first time in 25 years that an American House Speaker visited the island.Any trip by Pelosi "will greatly threaten peace and stability across the Taiwan Strait, severely undermine China-US relations and lead to a very serious situation and grave consequences," senior Chinese diplomat Liu Xiaoming tweeted late Monday night. Liu's statement reflected the tone and tenor of weeks' worth of warnings and threats that have emanated from Beijing.On Tuesday, China escalated this rhetoric with a series of actions, starting with the announcement of new tariffs on Taiwanese goods. Shortly afterward, Reuters reported that several Chinese warplanes had flown close to the median line of the Taiwan Strait.Hours later, a major Taiwanese media outlet reported that the island's own military would be on heightened alert in response to Chinese live fire exercises being held in anticipation of Pelosi's reported visit.Given that Pelosi is traveling aboard a U.S. military aircraft for the entirety of her trip to Asia this week, the quickly escalating military tensions between China and Taiwan carry especially high risks.They also underscore what a difficult position Pelosi's trip has placed the Biden White House into.'Independent branch of government'As reports of the trip solidified in recent days, Biden's top spokespeople have been forced to say over and over that they cannot confirm or deny the existence of any upcoming trip, and at the same time downplay its significance."I want to reaffirm that the Speaker has not confirmed any travel plans," National Security Council spokesman John Kirby told reporters Monday, "So we won't be commenting or speculating about the stops on her trip."Still, Kirby confirmed moments later that Biden had specifically raised the topic of Pelosi's unconfirmed trip with Chinese President Xi Jinping last week, during a video call that lasted more than two hours.Biden "made clear that Congress is an independent branch of government and that Speaker Pelosi makes her own decisions, as other members of Congress do, about their overseas travel," said Kirby. "That was made clear."Moments after saying Biden and Xi had personally discussed the trip, Kirby again sought to downplay its importance."I think we've laid out very clearly that if she goes — if she goes — it's not without precedent. It's not new. It doesn't change anything," he said. "We've not ramped up the rhetoric. We've not changed our behavior."CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to BidenTo foreign policy experts, the White House's effort to convince Beijing that it must distinguish between the behavior of the top Democrat in Congress and the intent of the Democratic administration is a futile one."Saying that this is a whole lot of nothing or that the Chinese shouldn't read into it ... Well, anybody who has spent half a minute looking at China knows that they attach some sort of intentionality to everything we do," said Andrew Mertha, the director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies.Any suggestion that a visit by someone as important as Pelosi would be seen by Beijing as anything but an in-person expression of American support for Taiwanese independence, he said, is unimaginable.This is especially true after Biden himself said, on three separate occasions, that the U.S. would come to the defense of Taiwan if China were to invade the island.Those statements, said Mertha, undermined decades of assurances from Washington that the U.S. would maintain a policy of strategic ambiguity on the question of who controls Taiwan."I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy," said Mertha, referring to the longstanding U.S. position of recognizing Beijing as the sole legal government of China, but not formally recognizing Taiwan as subject to the government in Beijing."They're alarmed," Mertha said of Beijing, "and I don't blame them."

White House struggles to insulate Biden's China policy from Pelosi's Taiwan trip.

U.S. House of Representatives Speaker Nancy Pelosi and Malaysia's Parliament Speaker Azhar Azizan Harun pose for photographs during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 2 (Reuters) - A U.S. air force jet that flew U.S. House of Representatives Speaker Nancy Pelosi to Malaysia has left the capital Kuala Lumpur, according to flight-tracking website Flightradar24 and Reuters witnesses.Reuters could not immediately establish if Pelosi or her delegation were on the plane. Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said earlier. read more Register now for FREE unlimited access to Reuters.comReporting by Ebrahim Harris and Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

U.S. jet that flew Pelosi to Malaysia departs from Kuala Lumpur.

WNBA star and two-time Olympic gold medalist Brittney Griner sits in a cage at a court room prior to a hearing, in Khimki , outside Moscow, Russia, July 27, 2022. American basketball star Brittney Griner returns to a Russian courtroom for her drawn-out trial on drug charges that could bring her 10 years in prison of convicted. Alexander Zemlianichenko/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comKHIMKI, Russia, Aug 2 (Reuters) - U.S. basketball star Brittney Griner returned to stand trial at a Russian court on Tuesday as the United States sought to secure her release with a prisoner swap to help her avoid up to 10 years in jail on drugs charges.Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage.U.S. Secretary of State Antony Blinken said on Wednesday the United States has made a "substantial offer" to Russia to release American citizens held in Russia, including Griner and former Marine Paul Whelan. read more Register now for FREE unlimited access to Reuters.comA source said that Washington was willing to exchange convicted arms trafficker Viktor Bout, known as the "Merchant of Death."Russia said that there was no deal yet, and Griner is unlikely to be swapped until there is a verdict, which could happen by mid-August.Griner, 31, has pleaded guilty to the charges against her but has denied that she intended to break Russian law.Wearing a plain khaki T-shirt and round-rimmed glassed, Griner was ushered a courtroom by police at Khimki District Court outside Moscow, Griner held up personal photographs before taking a seat in the defendant's cage.The two-time Olympic champion testified last week that she could not understand how the vape cartridges had ended up in her luggage, speculating that she had inadvertently packed them as she rushed to leave. read more Griner had been her way to join her Russian team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

Brittney Griner appears in Russian court after U.S. makes swap offer.

Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Japan's Hino Motors Ltd (7205.T) falsified emissions data on some engines as far back as 2003, a committee tasked by the automaker said on Tuesday, blaming a culture where engineers were not able to challenge senior staff.The committee composed of lawyers and a corporate adviser was set up by the Toyota Motor Corp (7203.T) unit after it admitted this year to falsifying data related to emissions and fuel performance of four engines. Its findings cast a harsh light on the culture of the automaker.That internal culture made it easy for power harassment to happen and difficult for staff to feel "psychological safety", the committee said in a report.Register now for FREE unlimited access to Reuters.comThe automaker said the committee had found evidence of falsification stretching back as far as 2003, as opposed to previously disclosed around 2016.The transportation ministry revoked the truck maker's certification of those engines in March. read more Hino has recalled close to 47,000 vehicles made between April 2017 and March this year, but the recall is likely to widen, the Nikkei business daily reported on Tuesday.Toyota owns 50.1% of Hino. Shares of Hino fell almost 10% on Tuesday.Hino has joined a string of Japanese automakers involved in improper emissions tests.In 2018, the government said Mazda Motor Corp (7261.T), Suzuki Motor Corp (7269.T) and Yamaha Motor Co Ltd (7272.T) had improperly tested vehicles for fuel economy and emissions.Subaru Corp (7270.T) and Nissan Motor Co Ltd (7201.T) were under scrutiny for the same reason the year before.The accuracy of automakers' emissions data was thrown into doubt in 2015 when Germany's Volkswagen AG (VOWG_p.DE) admitted that it had installed secret software in hundreds of thousands of U.S. diesel cars to cheat exhaust emissions tests and that as many as 11 million vehicles could have similar software installed worldwide.Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Editing by David Dolan and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Committee probing Toyota unit Hino blames company culture in false data scandal.

Tail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales on short-haul flights from Heathrow until August 8 following the London airport's decision to cap capacity and tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said the sales suspension on domestic and European destinations was designed to allow existing customers to rebook flights when needed.Airlines and airports across Britain and Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.Register now for FREE unlimited access to Reuters.comHeathrow, like Amsterdam's Schiphol airport, has told airlines to limit the number of tickets they sell over the summer, after it capped the number of passengers flying from the hub at 100,000 a day to limit queues, baggage delays and cancellations.Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling."As a result of Heathrow's request to limit new bookings, we've decided to take responsible action and limit the available fares on some Heathrow services to help maximise rebooking options for existing customers, given the restrictions imposed on us and the ongoing challenges facing the entire aviation industry," BA said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

BA halts short-haul ticket sales until Aug. 8.

A signboard of MUFG Bank is seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T), Japan's largest lender by assets, reported on Tuesday a 70.3% plunge in first-quarter net profit, blaming a one-off loss related to the sale of MUFG Union Bank.Mitsubishi UFJ, which owns 21.5% of Wall Street bank Morgan Stanley , reported net profit of 113.7 billion yen ($869.1 million) for the April-June period, against 383.1 billion yen a year earlier.The slump in profit reflected appraisal losses of 254 billion yen on bonds and other asset held by MUFG Union Bank, an accounting treatment required ahead of the $8 billion sale of the U.S. retail banking unit to U.S. Bancorp later this year.Register now for FREE unlimited access to Reuters.comThe previously flagged losses would be partially offset when the sale is complete, and the overall impact on full-year net profit is expected to be around 200 billion yen, the bank said.Mitsubishi UFJ saw loan growth overseas as an economic recovery driven by easing pandemic curbs has revived commercial activities as well as demand for borrowing for business expansions and investments.The bank maintained its full-year profit forecast of 1 trillion yen, a 12% drop from the previous year when it posted a record profit. The outlook compared with an average forecast of 1.05 trillion yen from 13 analyst estimates compiled by Refinitiv.The two other Japanese megabanks, Sumitomo Mitsui Financial Group (8316.T) and Mizuho Financial Group (8411.T), also maintained their full-year profit forecasts when they reported last week. read more ($1 = 130.8300 yen)Register now for FREE unlimited access to Reuters.comReporting by Makiko Yamazaki; Editing by Kirsten Donovan and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Japanese bank Mitsubishi UFJ blames one-off factors for first-quarter profit slump.

U.S. Updated on: August 1, 2022 / 7:06 PM / CBS/AP Death toll rises in Kentucky flooding disaster Death toll rises in Kentucky flooding disaster 02:19 The death toll in Kentucky climbed to 37 from last week's massive flooding, Gov. Andy Beshear announced Monday. "Let us pray for these families and come together to wrap our arms around our fellow Kentuckians," Beshear tweeted. During a briefing earlier Monday morning, the governor said hundreds of people were unaccounted for. He said a report over the weekend of a smaller number was only for one state police post. "We just don't have a firm grasp on that," the governor said. "I wish we did."More than 12,000 customers remained without power, many because their homes and businesses have been destroyed or aren't fit for habitation. Shelters were housing at least 300 people. Parts of eastern Kentucky received between 8 and 10 1/2 inches of rain over 48 hours last week and the National Weather Service said radar indicated up to 4 inches of rain fell Sunday in some areas. More severe storms were possible across all the counties affected by the flooding, Beshear said."If things weren't hard enough on the people of this region, they're getting rain right now," Beshear said Monday. Water-damaged items sit outside a house in Squabble Creek, Kentucky, following historic flooding in eastern Kentucky, July 31, 2022. Seth Herald/AFP via Getty Images The governor canceled a trip to Israel that had been scheduled for later this week, saying "I cannot be overseas while the people of eastern Kentucky are suffering."Meanwhile, nighttime curfews were declared in response to reports of looting in two of the devastated communities — Breathitt County and the nearby city of Hindman in Knott County. Breathitt County Judge Executive Jeff Noble declared a countywide curfew from 10 p.m. to 6 a.m., County Attorney Brendon Miller said Sunday evening in a Facebook post. The only exceptions will be for emergency vehicles, first responders and people traveling for work."I hate to have to impose a curfew, but looting will absolutely not be tolerated. Our friends and neighbors have lost so much — we cannot stand by and allow them to lose what they have left," the post said.Hindman Mayor Tracy Neice also announced a curfew Sunday night, from sunset to sunrise, due to "excessive looting," CBS affiliate WYMT-TV reported. Both curfews will remain in place until further notice, officials said.President Biden declared a federal disaster last week to direct relief money to flooded counties and sent Federal Emergency Management Agency officials to coordinate directly in the recovery. Last week's flooding extended to West Virginia, where Gov. Jim Justice declared a state of emergency for six southern counties, and to Virginia, where Gov. Glenn Youngkin also made an emergency declaration that enabled officials to mobilize resources across the flooded southwest portion of the state.Stories of survival continue to emerge. A 17-year-old girl whose home in Whitesburg was flooded Thursday put her dog in a plastic container and swam 70 yards to safety on a neighbor's roof. Chloe Adams waited hours until daylight before a relative in a kayak arrived and moved them to safety, first taking her dog, Sandy, and then the teenager."My daughter is safe and whole tonight," her father, Terry Adams, said in a Facebook post. "We lost everything today … everything except what matters most." In: Kentucky flood Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

At least 37 dead in Kentucky flooding as governor says hundreds of people are still unaccounted for.

A photo of Al Qaeda's new leader, Egyptian Ayman al-Zawahiri, is seen in this still image taken from a video released on September 12, 2011. SITE Monitoring Service/Handout via REUTERS TVRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Al Qaeda chief Ayman al-Zawahiri, who had a $25 million U.S. bounty on his head, survived years in Afghanistan's rugged mountains but his last months were spent in an upscale Kabul neighbourhood where top officials from the Taliban also live.U.S. officials said Hellfire missiles from a U.S. drone killed the 71-year-old when he came out on the balcony of a safe house in Kabul on Sunday morning. U.S. President Joe Biden said no civilians were killed. read more The Taliban confirmed an air strike on a residential house in the Sherpoor area of Kabul but said there were no casualties.Register now for FREE unlimited access to Reuters.comZawahiri moved to a "very safe place" in Kabul a few months after the Taliban took control of Afghanistan in August last year, a senior leader of the radical group told Reuters on Tuesday on the condition of anonymity.Taliban spokesperson Zabihullah Mujahid condemned the drone strike and called it a violation of "international principles". Two Taliban spokesmen did not respond to Reuters request seeking details about Zawahiri's death.Unverified pictures on social media of what was described as the target of the attack showed shattered windows of a pink building, its fences topped with rolls of barbed wires. The house appeared two to three stories tall and ringed by trees.Sherpoor is a quiet, leafy part of Kabul with large houses, where former Afghan general and ethnic Uzbek strongman Abdul Rashid Dostum had lived, among other local dignitaries. Some houses have swimming pools in their attached gardens.U.S. and NATO embassies are within a few km (miles) of the area.A woman who lives in the neighbourhood and spoke to Reuters on condition of anonymity said she and her family of nine moved to the safe-room of their house when she heard an explosion at the weekend. When she later went to the rooftop, she saw no commotion or chaos and assumed it was some rocket or bomb attack - which are not uncommon in Kabul.The senior Taliban leader said Zawahiri spent most of his time in the mountains of Helmand province's Musa Qala district after the Taliban government was overthrown in 2001 when the United States sent troops to the country.He said Zawahiri kept a low profile there but went in and out of Pakistan's border regions several times.Pakistan's foreign office did not respond to questions about Zawahiri's reported movements in and out of Pakistan.In January, 2006, CIA-operated Predator drones fired missiles at a house in Damadola, a village in the Pakistani tribal region of Bajaur, in the belief that Zawahiri was visiting. He was not but at least 18 villagers were killed.TOP SECURITYOther Taliban sources said the group gave the "highest-level security" to Zawahiri in Kabul but he was largely inactive operationally and needed the Taliban's permission to move.A Kabul police official described Sherpoor as Kabul's "most safe and secure neighbourhood" and that the drone strike there was a "great shock".He said influential people from the former governments of Hamid Karzai and Ashraf Ghani had built spacious houses in Sherpoor. Senior Taliban leaders and their families now lived there, the official said.Zawahiri, an Egyptian surgeon, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people in the United States.A U.S. official said U.S. officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a house in Kabul and subsequently identified Zawahiri at the same location.Officials were not aware of him leaving it and on multiple times they identified him on its balcony - where he was ultimately struck. read more Register now for FREE unlimited access to Reuters.comReporting by Jibran Ahmad in Peshawar, Rupam Jain in Mumbai and Gibran Peshimam in Islamabad; Writing by Krishna N. Das; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Al Qaeda's Zawahiri survived harsh mountains, killed in posh Kabul locality.

A vial labelled "Sinovac COVID-19 Vaccine" is seen in this illustration taken January 16, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - Hong Kong on Tuesday reduced the minimum age for getting vaccinated with China's Sinovac COVID-19 shot to six months from three years after several young children became infected with the virus.Adults and children in the Asian financial hub, which retains some of the world's toughest COVID precautions, are required to have at least three coronavirus vaccine shots."Recently a series of young children have been infected with the new coronavirus. The situation of severe illness and even death is of great concern," the government said in a statement announcing the reduction in age.Register now for FREE unlimited access to Reuters.comThe government said it was also negotiating with China's Fosun, which supplies Germany's BioNtech vaccine, to purchase a formula of that vaccine for children.The minimum age to get a shot of the BioNtech vaccine is five.About 90% of Hong Kong's more than 7 million people have had two doses of a coronavirus vaccine and about 67% have had three.Residents can choose between China's Sinovac and BioNtech.A government advisory panel on Monday recommended that a fourth vaccine dose be given to those over 50.The Chinese-ruled city has reported more than 1.3 million COVID cases and 9,500 deaths since the pandemic started, most of which occurred this February and March due to the fast-spreading Omicron variant.Register now for FREE unlimited access to Reuters.comReporting by Farah Master and Twinnie Siu; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Hong Kong lowers age for Sinovac vaccine shot to six months.

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2022. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryCompaniesBP boosts dividend after profit hits 14-year highSemiconductor stocks fallPelosi set to visit Taiwan despite China warnings-sourcesSTOXX down 0.6%Aug 2 (Reuters) - European shares fell on Tuesday as weak global factory data fanned economic slowdown fears, while markets were on edge as U.S. House of Representatives Speaker Nancy Pelosi was expected to visit Taiwan.The pan-European STOXX 600 (.STOXX) slid 0.6% in morning trade.Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it wouldn't be intimidated by Chinese threats to never "sit idly by" if she made the trip to the self-ruled island claimed by Beijing. read more Register now for FREE unlimited access to Reuters.com"After the best month for Stoxx 600 in July, European equities are giving back some of those gains to kick off August suggesting the rally was slightly overdone," Victoria Scholar, head of investment at Interactive Investor, said."Although Pelosi's visit could create a deeper strain between Beijing and Washington it is unlikely to result in actual military conflict."Global markets were jittery, with MSCI's broadest index of Asia-Pacific shares ex-Japan (.MIAPJ0000PUS) down 1.3%, while U.S. futures pointed to a lower open.In Europe, semiconductor stocks such as ASML Holding (ASML.AS), ASM International (ASMI.AS), BE Semiconductor (BESI.AS) and STMicroelectronics fell between 0.6% and 3.6%."Most of the chip production happens in Asia. If you get a conflagration between China and the U.S., that's going to increase geopolitical uncertainty in that region," said Michael Hewson, chief market analyst at CMC Markets UK.Meanwhile, Moody's Investors Service flagged an increased risk of stagflation in European Union countries.European stocks ended lower in the previous session as energy shares fell following a drop in crude prices after weak factory data across the United States, Europe and Asia rekindled demand concerns.The energy sector (.SXEP) got a boost on Tuesday following strong results from BP (BP.L), with the London-listed oil major up 4% as it reported a second-quarter profit that beat estimates. read more Register now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Risk-off mood hits European shares; Sino-U.S. tensions weigh.

U.S. House of Representatives Speaker Nancy Pelosi sits while signing the guest book as Malaysia's Parliament Speaker Azhar Azizan Harun stands next to her, during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - As U.S. House of Representatives Speaker Nancy Pelosi headed to Taipei on Tuesday amid intensifying warnings from China, four U.S. warships, including an aircraft carrier, were positioned in waters east of the island on "routine" deployments.The carrier USS Ronald Reagan had transited the South China Sea and was currently in the Philippines Sea, east of Taiwan and the Philippines and south of Japan, a U.S. Navy official confirmed to Reuters on Tuesday.The Japanese-based Reagan is operating with a guided missile cruiser, USS Antietam, and a destroyer, USS Higgins.Register now for FREE unlimited access to Reuters.com"While they are able to respond to any eventuality, these are normal, routine deployments," the official said, who spoke on the condition of anonymity. The official added that they were unable to comment on precise locations.The U.S. Navy official said the amphibious assault ship USS Tripoli was also in the area as part of a deployment to the region that started in early May from its home port of San Diego.Pelosi, a long-time China critic, was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as the United States said it would not be intimidated by Chinese "saber rattling" over the visit. read more Confirmation of the deployments comes as signs emerge of military activity on both sides of the Taiwan strait ahead of Pelosi visit.In addition to Chinese planes flying close to the median line dividing the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, a source briefed on the matter told Reuters.China's defense and foreign ministries did not immediately respond to requests for comment.The source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative."The person said the Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.Taiwan's Defense Ministry said on Tuesday they have a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to "enemy threats" as tensions rise with China. read more The ministry had "reinforced" its combat alertness level from Tuesday morning to Thursday noon, the island's official Central News Agency reported on Tuesday, citing unidentified sources.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armored vehicles on the move and posted pictures online. The photographs have yet to be verified by Reuters.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervor over the prospect of unification with Taiwan.Since last week, the People's Liberation Army has conducted various exercises, including live fire drills, in the South China, Yellow Sea and Bohan Seas.Some regional military analysts say that increased deployments at a time of tension raise the risk of accidents, even if no side wants an actual conflict.(This story refiles to correct typographical errors in USS in second, third and fifth paragraphs)Register now for FREE unlimited access to Reuters.comReporting By Greg Torode in Hong Kong and Yimou Lee in Taipei; additional reporting by Yew Lun Tian in Beijing; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

U.S. Navy deploys four warships east of Taiwan as Pelosi heads to Taipei.

Signage is seen for BP (British Petroleum) at a service station near Brighton, Britain, January 30, 2021. Picture taken January 30, 2021. REUTERS/Toby MelvilleRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - BP is increasing its spending on oil and gas by $500 million in response to soaring energy prices and tightening supplies, Chief Executive Officer Bernard Looney told Reuters on Tuesday.The extra spending will go primarily to BP's onshore natural gas production in the Hayensville basin and offshore production in the Gulf of Mexico, both in the United States, he said."We will direct more investment towards hydrocarbons to help with energy security in the near term," he told Reuters after the company reported its highest quarterly profit in 14 years. read more "We'll probably direct about a half a billion dollars for hydrocarbons."Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

BP to boost spending on oil and gas by $500 mln, CEO says.

Ousted Pakistani Prime Minister Imran Khan gestures as he travels on a vehicle to lead a protest march in Islamabad, Pakistan May 26, 2022. REUTERS/Akhtar SoomroRegister now for FREE unlimited access to Reuters.comISLAMABAD, Aug 2 (Reuters) - Pakistan's Election Commission ruled on Tuesday that former Prime Minister Imran Khan's party had received illegal funds, his party spokesman and media said, which could result in the former cricket star and the party being banned from politics.In a case that has dragged on for years, Khan's party was accused of receiving funds from abroad, which is illegal in Pakistan.Khan was not immediately available for comment but a spokesman for his Pakistan Tehreek-e-Insaf (PTI) party denied wrongdoing.Register now for FREE unlimited access to Reuters.com"We will challenge this ruling," the spokesman, Fawad Chaudhry, told reporters outside the office of the Election Commission of Pakistan in the capital, Islamabad.Chaudhry said the funds in question were received from overseas Pakistanis, which is not illegal.Khan was prime minister from 2018 until April of this year when he was forced to step down after losing a confidence vote that he said was the result of a U.S. conspiracy. The United States denied that.Since then, Khan has been rallying his supporters to press his demand for a new election. The new prime minister, Shehbaz Sharif, has rejected that demand.A spokesman for the Election Commission was not immediately available for comment but media reported that a three-member commission tribunal found that the party got funding from 34 foreigners or foreign companies.The tribunal said the party had submitted a fake affidavit about its bank accounts, and it had determined that the party hid 13 bank accounts that it should have declared.The commission asked the party to submit an explanation as to why its funds should not be seized, media reported.The person who filed the complaint against the party, Khan party founder and former close associate Akbar S. Babar, hailed the ruling."All the accusations against Imran Khan have been proven," Babar, who fell out with Khan, told reporters, adding that Khan should step down from the party.Register now for FREE unlimited access to Reuters.comReporting by Asif Shahzad; Editing by Kim Coghill, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Pakistan election agency rules former PM Khan's party received illegal funds.

Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - The yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.-China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets.Against the dollar , the Japanese currency was on track for a fifth consecutive session of gains on Tuesday, taking its cumulative increase to nearly 4.5% in five trading sessions. In early London trading, the currency was up 0.6% at 130.78 yen, just below a high of 130.40 yen, a level last seen in early June.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi weighed on stocks and sent investors scurrying into U.S. Treasuries. read more Register now for FREE unlimited access to Reuters.comThe benchmark 10-year Treasury yield fell to 2.516%, its lowest since April, further narrowing the gap between ten-year U.S. debt and equivalent Japanese bonds to 236 basis points (bps), the lowest since early April.The U.S. economy shrank for a second straight quarter, data released last week showed, intensifying an ongoing debate over whether the country is, or will soon be, in recession, with traders keenly watching for U.S. jobs data on Friday. read more "U.S. data releases and the reaction in U.S. yields through the end of this week will be critical as JPY momentum has built a considerable head of steam here," said John Hardy, head of FX strategy at Saxo Bank.The Australian dollar fell nearly 1.5% after the Reserve Bank of Australia raised rates by 50 bps to 1.85%, in line with expectations. read more The bank said that even though more tightening was expected, it was not on a pre-set path, which some investors interpreted as future policy tightening may not be as aggressive.China's offshore yuan touched 6.7957 per dollar, its weakest since mid-May. Some analysts attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The dollar index , which measures the greenback against six peers, rose 0.3% to 105.65.Register now for FREE unlimited access to Reuters.comReporting by Saikat Chatterjee; additional reporting by Alun John in HONG KONG Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Yen set for biggest run of gains in more than 2 years.

A Christmas themed window display is pictured at a branch of Greggs bakery chain in London, Britain, November 18, 2021. Picture taken November 18, 2021. REUTERS/May JamesRegister now for FREE unlimited access to Reuters.comSummaryCompaniesYet to see changes in customer behaviourRaised prices in MayFirst-half profit flatReiterates full-year outlookLONDON, Aug 2 (Reuters) - British baker and fast food chain Greggs (GRG.L) said on Tuesday it was well placed to navigate a worsening cost of living crunch, saying its pricing was attractive in a market where consumer incomes were under pressure.Confidence levels among Britain's consumers are at record lows as wages fail to keep pace with inflation that hit a 40-year high of 9.4% in June and is heading for double digits.However, Greggs, known for its sausage rolls, steak bakes, vegan snacks and sweet treats, reiterated its full-year outlook and said its customers had not cut their spending.Register now for FREE unlimited access to Reuters.com"As of yet we haven't seen changes in customer behaviour," Chief Executive Roisin Currie told Reuters."We're expecting more pressure on our consumers as we go into autumn with the energy prices, so we will continue to stay very focused on it and continue to watch the market."Currie noted that when Greggs raised prices by 5 pence to 10 pence in May, it did not see an impact on transactions.She speculated that with Greggs having an average spend of just under 4 pounds, customers were still comfortable parting with their money. Also, Greggs might be benefiting from consumers trading down to it from other more expensive outlets.She said further price rises were under review.Shares in Greggs were up 2.1% at 0834 GMT.It reported flat profit of 55.8 million pounds ($68.3 million) for the 26 weeks to July 2, reflecting the re-introduction of business rates, an increase in VAT sales tax and higher levels of cost inflation.Total sales rose 27.1% to 694.5 million pounds, with like-for-like sales up 22.4% - figures flattered by comparison with COVID-19-restricted trading conditions in the same period of 2021.In the first four weeks of its second half, like-for-like sales were up 13.1%.Greggs said in March that it did not expect material profit growth in the current year on the 145.6 million pounds made in 2021 due to the surging cost of raw materials, energy and staff. read more Greggs opened a net 58 new shops in the half, taking its total to 2,239. It sees potential for at least 3,000.It has extended evening trading to 300 shops and expanded a delivery service with Just Eat (TKWY.AS) to 1,180 shops.($1 = 0.8173 pounds)Register now for FREE unlimited access to Reuters.comReporting by James Davey; Editing by Kirsten Donovan and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

UK's Greggs says well placed to navigate cost of living crisis.

Test tubes labeled "Monkeypox virus positive and negative" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. President Joe Biden on Tuesday appointed top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) to coordinate the administration's response to monkeypox in the United States.The appointments come as the United States aims to bolster vaccination efforts to slow the spread of a monkeypox outbreak that has infected more than 5,800 Americans.On Monday, California Governor Gavin Newsom declared a state of emergency over monkeypox. read more Register now for FREE unlimited access to Reuters.comBiden named Robert Fenton as the White House coordinator to head the monkeypox response and Demetre Daskalakis as the deputy coordinator.Fenton is the regional administrator at the FEMA who helped lead mass vaccination effort for COVID-19 in February 2021. Daskalakis serves as the director of CDC's HIV prevention division.The duo will coordinate on "strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments," the White House said.The first case of monkeypox in the United States was confirmed in Massachusetts on May 20, with the first case in California, in a person who had traveled abroad, confirmed five days later.Monkeypox, which spreads through close physical contact, tends to cause flu-like symptoms and pus-filled skin lesions, though it is rarely fatal.Register now for FREE unlimited access to Reuters.comReporting by Shivani Tanna and Akriti Sharma in Bengaluru; Additional reporting by Alex Alper in Washington; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Biden names FEMA, CDC officials to head U.S. monkeypox response.

Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year.Nomad said in a tweet that it was "aware of the incident" and was currently investigating, without giving further details or the value of the theft.Crypto analytics firm PeckShield told Reuters $190 million worth of users' cryptocurrencies were stolen, including ether and the stablecoin USDC. Other blockchain researchers put the figure at over $150 million.Register now for FREE unlimited access to Reuters.comSan Francisco-based Nomad did not immediately respond to a request for comment.The company has notified law enforcement and is working with blockchain forensics firms to try to identify the accounts involved and get back the funds, it said in a statement to crypto news outlet CoinDesk.Nomad, which last week raised $22 million from investors including major U.S. exchange Coinbase Global (COIN.O), makes software that connects different blockchains - the digital ledgers that underpin most cryptocurrencies.The heist targeted Nomad's "bridge" - a tool which allows users to transfer tokens between blockchains.Blockchain bridges have increasingly become the target of thefts, which have long plagued the crypto sector. Over $1 billion has been stolen from bridges so far in 2022, according to London-based blockchain analytics firm Elliptic. read more In June, U.S. crypto firm Harmony said that thieves stole around $100 million worth of tokens from its Horizon bridge product. read more In March, hackers stole around $615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft. read more Nomad described itself as "security-first" business which would keep users' funds safe.PeckShield said that a small proportion of the coins were moved to a so-called "mixer", which masks the trail of crypto transactions, while around $95 million was held in three other wallets.Register now for FREE unlimited access to Reuters.comReporting by Elizabeth Howcroft; editing by Tom Wilson and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

U.S. crypto firm Nomad hit by $190 million theft.

Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Aleksey Nikolskyi | Sputnik | ReutersRussia is facing "economic oblivion" in the long-term because of international sanctions and the flight of businesses, several economists have said.The International Monetary Fund last week upgraded Russia's gross domestic product estimate for 2022 by 2.5 percentage points, meaning the economy is now projected to contract by 6% this year. The IMF said the economy seemed to be weathering the barrage of economic sanctions better than expected.The Central Bank of Russia surprised markets in late July by cutting its key interest rate back to 8%, below its pre-war level, citing cooling inflation, a strong currency and the risk of recession.The ruble recovered from historic early losses in the aftermath of the invasion of Ukraine to become a top performer on the global foreign exchange market this year, prompting Russian President Vladimir Putin to declare that Western sanctions had failed.Meanwhile, Russia has continued to export energy and other commodities while leveraging Europe's dependency on its gas supplies.However, many economists see long-lasting costs to the Russian economy from the exit of foreign firms – which will hit production capacity and capital and result in a "brain drain" – along with the loss of its long-term oil and gas markets and diminished access to critical imports of technology and inputs.Ian Bremmer, president of Eurasia Group, told CNBC on Monday that while short-term disruptions from sanctions are less than originally anticipated, the real debate goes beyond 2022."Anecdotal evidence suggests the manufacturing dislocations are rising as inventories are depleted and scarcity of foreign parts becomes binding. Chips and transport are among the sectors cited, in some cases reflecting dual-use military demand," Bremmer said."Governmental arrears may be contributing to broader shortages. Imports of consumer goods are increasing, but less so intermediate/investment goods."Bremmer highlighted that as sanctions intensify and popular discontent grows, the educated are leaving Russia, underscoring the importance of trade sanctions on sensitive technologies and the "longer timeline by which sanctions undermine trend productivity and growth.""Brain drain leads to a direct decline in the working age population, especially high-productivity workers, reducing GDP," he said."It affects overall productivity, reducing innovation and affects overall confidence in the economy, reducing investment and savings."Eurasia Group projects a sustained, long-term decline in economic activity to eventually result in a 30-50% contraction in Russian GDP from its pre-war level.'Catastrophically crippling'A Yale University study published last month, which analyzed high-frequency consumer, trade and shipping data that its author's claim presents a truer picture than the Kremlin is presenting, argued that rumors of Russia's economic survival had been greatly exaggerated.The paper suggested international sanctions and an exodus of more than 1,000 global companies are "catastrophically crippling" the Russian economy."Russia's strategic positioning as a commodities exporter has irrevocably deteriorated, as it now deals from a position of weakness with the loss of its erstwhile main markets, and faces steep challenges executing a 'pivot to Asia' with non-fungible exports such as piped gas," the Yale economists said.They added that despite some "lingering leakiness," Russian imports have "largely collapsed," with Moscow now facing challenges in securing inputs, parts and technology from increasingly jittery trade partners and as a result, seeing widespread supply shortages in its domestic economy."Despite Putin's delusions of self-sufficiency and import substitution, Russian domestic production has come to a complete standstill with no capacity to replace lost businesses, products and talent; the hollowing out of Russia's domestic innovation and production base has led to soaring prices and consumer angst," the report said."As a result of the business retreat, Russia has lost companies representing ~40% of its GDP, reversing nearly all of three decades worth of foreign investment and buttressing unprecedented simultaneous capital and population flight in a mass exodus of Russia's economic base."No path out of 'economic oblivion'The apparent resilience of the Russian economy and the resurgence of the ruble was largely attributed to soaring energy prices and strict capital control measures – implemented by the Kremlin to limit the amount of foreign currency leaving the country – along with sanctions restricting its capacity to import.Russia is the world's largest exporter of gas and second-largest exporter of oil, and thus the hit to GDP from the war and associated sanctions has been softened by high commodity prices and Europe's continued dependence on Russian energy for the time being.Russia has now relaxed some of its capital controls and cut interest rates in a bid to bring the currency down and shore up its fiscal account."Putin is resorting to patently unsustainable, dramatic fiscal and monetary intervention to smooth over these structural economic weaknesses, which has already sent his government budget into deficit for the first time in years and drained his foreign reserves even with high energy prices – and Kremlin finances are in much, much more dire straits than conventionally understood," the Yale economists said.They also noted that Russia's domestic financial markets were the worst performing markets in the world so far this year despite the strict capital controls, with investors pricing in "sustained, persistent weakness within the economy with liquidity and credit contracting," along with Russia's effective ostracization from international financial markets."Looking ahead, there is no path out of economic oblivion for Russia as long as the allied countries remain unified in maintaining and increasing sanctions pressure against Russia," the report concluded."Defeatist headlines arguing that Russia's economy has bounced back are simply not factual – the facts are that, by any metric and on any level, the Russian economy is reeling, and now is not the time to step on the brakes."

Russia faces 'economic oblivion' despite claims of short-term resilience, economists say.

Ukrainian refugees from Mariupol region board a bus bound for Poland, at a registration and humanitarian aid center for internally displaced people, amid Russia's ongoing invasion of Ukraine, in Zaporizhzhia, Ukraine May 17, 2022. REUTERS/Gleb GaranichRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 2 (Reuters) - The number of border crossings from Ukraine has surpassed 10 million for the first time since Russia invaded the country, the UN Refugee Agency reported on Tuesday.A total of 10,107,957 border crossings from Ukraine have been recorded since Feb. 24, the agency's tally showed.Register now for FREE unlimited access to Reuters.comWriting by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Border crossings from Ukraine since war began passes 10 mln mark - UN agency.

Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesCommittee publishes report on false data scandal at HinoSays engineers didn't feel able to challenge superiorsEvidence data was falsified as far back as 2003TOKYO, Aug 2 (Reuters) - A major affiliate of Japan's Toyota Motor Corp (7203.T) falsified emissions data on some engines as far back as 2003, more than a decade earlier than previously indicated, a company-sponsored probe showed on Tuesday.The investigative committee tasked by automaker Hino Motors Ltd (7205.T) blamed the scandal on an environment where engineers did not feel able to challenge superiors, in a rare criticism of corporate culture in Japan.The committee, composed of lawyers and a corporate adviser, was set up by Hino this year after it admitted to falsifying data related to emissions and fuel performance of four engines. Its findings, released on Tuesday, detail an inflexible atmosphere where it was difficult for staff to feel "psychological safety", the committee said in a report.Register now for FREE unlimited access to Reuters.comA sense of past success on the part of management helped engender the culture, said committee chairperson Kazuo Sakakibara, who was the former head prosecutor at the Osaka District Public Prosecutors Office."The magnitude of their past successes has made them unable to change or look at themselves objectively, and they have been unaware of changes in the external environment and values," he told a briefing."The organisation has become an ill-organized one where people are unable to say what they cannot do."Hino's president apologised to reporters and said management took its responsibilities seriously. The company said it would come up with a new corporate governance system within three months.The automaker said the committee had found evidence of falsification stretching back as far as 2003, as opposed to the previously disclosed timeframe of around 2016.The transportation ministry revoked the truck maker's certification of the affected engines in March. read more Hino has recalled close to 47,000 vehicles made between April 2017 and March this year, but the recall is likely to widen, the Nikkei business daily reported on Tuesday.Toyota owns 50.1% of Hino. Shares of Hino fell almost 10% on Tuesday.Hino has joined a string of Japanese automakers involved in improper emissions tests.In 2018, the government said Mazda Motor Corp (7261.T), Suzuki Motor Corp (7269.T) and Yamaha Motor Co Ltd (7272.T) had improperly tested vehicles for fuel economy and emissions.Subaru Corp (7270.T) and Nissan Motor Co Ltd (7201.T) were under scrutiny for the same reason the year before.The accuracy of automakers' emissions data was thrown into doubt in 2015 when Germany's Volkswagen AG (VOWG_p.DE) admitted it had installed secret software in hundreds of thousands of U.S. diesel cars to cheat emissions tests and that as many as 11 million vehicles could have similar software worldwide.Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama Editing by Christopher Cushing and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Toyota unit falsified emissions data as far back as 2003, probe finds.

Detail view shows the Lamborghini Aventador Roadster front during the Frankfurt Motor Show (IAA) in Frankfurt, Germany September 13, 2017. REUTERS/Kai Pfaffenbach/File PhotoRegister now for FREE unlimited access to Reuters.comDETROIT, Aug 2 (Reuters) - Wealthy sports car enthusiasts powered Italian supercar brand Lamborghini to record first-half deliveries and profitability, but Chief Executive Stephan Winkelmann said he is preparing for a challenging winter if Europe's energy crunch gets worse.Lamborghini is banking natural gas to sustain operations during the winter should Russia carry through on threats to cut gas supplies to Western Europe. The outgoing Italian government had put a priority on sustaining gas supplies to industry, Winkelmann said. "We have no notice from the government ... that this is going to change," he said during a video conference with reporters.Lamborghini, a unit of Germany's Volkswagen AG (VOWG_p.DE), like other brands catering to the world's wealthiest consumers, is managing a disconnect between booming demand and severe turbulence in the broader global economy.Register now for FREE unlimited access to Reuters.comDuring the first half of this year, booming demand won out. Lamborghini shipped 5,090 of its sports cars and Urus sport utility vehicles, up 4.9% from a year earlier. Revenue rose 31% to 1.3 billion euros, and profit jumped nearly 70% to 425 million euros.Lamborghini has now become more of a high-performance, super luxury SUV company than a sports car brand. The Urus SUV now accounts for 61% of sales, the company said in a statement.Lamborghini is now heading into a period of transition for its product line.The company has said it will launch an all-electric model in 2028 that will be what Winkelmann called "a non-extreme" GT with four seats, designed to be a more forgiving drive than the brand's supercars. The challenge, Winkelmann said, is to build an electric Lamborghini that can not only accelerate in a straight line, but take corners the way customers would expect."I think we can achieve this with the generation of batteries coming in," he said.In the near term, Lamborghini will launch a successor to its Aventador sports car, and updates to the Urus SUV lineup. The last Aventador sports car was built on July 27, Winkelmann said. Early next year, Lamborghini will launch a successor with a different name."It's getting harder to find new names," Winkelmann said.Register now for FREE unlimited access to Reuters.comReporting by Joe White in Detroit Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

After a record first half, Lamborghini prepares for a cold winter.

Flags of U.S. and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. House Speaker Nancy Pelosi was expected to visit Taiwan on Tuesday, drawing sharp warnings from Beijing, which claims the self-ruled island as its own territory. read more Here are key developments in relations between the United States, China and Taiwan:1949 - Mao Zedong's communists take power in Beijing after defeating Chiang Kai-shek’s Kuomintang (KMT) nationalists in a civil war. The KMT-led government retreats to the island of Taiwan, cutting off contact with mainland China.Register now for FREE unlimited access to Reuters.com1950 - Taiwan becomes an ally of the United States, which is at war with China in Korea. The United States deploys a fleet in the Taiwan Strait to protect its ally from possible attack from the mainland.1954-1955 - The First Taiwan Strait Crisis: Beijing launches artillery attacks on some Taiwan-controlled outlying islands off China's southeastern coast. Taipei loses its control of some islands and moves remaining forces and residents to Taiwan.1958 - The Second Taiwan Strait Crisis: Beijing launches months-long artillery attacks on the Taiwan-controlled outlying islands of Kinmen and Matsu, both close to mainland China. Taipei fights back with some U.S.-supplied weapons. China does not seize control of any Taiwan-held island.1979 - The United States endorses the "One China Policy" and switches diplomatic recognition from Taipei to Beijing. Chinese leader Deng Xiaoping offers the concepts of “one country, two systems” and “peaceful unification” as possible alternatives to taking Taiwan by force.1979 - The United States enacts the Taiwan Relations Act, which makes clear that the U.S. decision to establish diplomatic ties with Beijing rests upon the expectation that the future of Taiwan will be determined by peaceful means. It obliges Washington to help provide Taiwan with the means to defend itself.1982 - U.S. President Ronald Reagan adopted Six Assurances to Taiwan, including a pledge not to alter the Taiwan Relations Act.1995 - Taiwan President Lee Teng-hui visits the United States for a reunion at Cornell University, drawing criticism from Beijing and escalating tensions.1996 - Third Taiwan Strait Crisis: Taiwan holds its first direct presidential vote. In reaction, Beijing launches missiles into waters near Taiwan; Washington dispatches aircraft carries to the region. Taiwan President Lee Teng-hui wins by a landslide in March.2000 - Chen Shui-bian is elected Taiwan president, marking the first time in power for the Democratic Progressive Party (DPP), which supports Taiwanese sovereignty and formal independence.2005 - Beijing adopts an anti-secession bill in March that makes secession by Taiwan illegal. In April, leaders of Taiwan's major opposition KMT and the Communist Party of China meet for the first time since 1949.May 2008 - KMT-backed President Ma Ying-jeou, who favours closer ties with China, comes into power and sets aside political disputes with China to discuss deals ranging from tourism to commercial flights.2016 - Tsai Ing-wen of the DPP wins the presidential race in January on a platform of standing up to China. In June, China suspends all official communications with Taiwan.December 2016 - U.S. President-elect Donald Trump breaks decades of U.S. diplomatic precedent by speaking directly, by telephone, with President Tsai Ing-wen.2017 - Trump administration approves $1.4 billion worth of arms sales to Taiwan, prompting anger from Beijing.March 2018 - Trump signs legislation that encourages the United States to send senior officials to Taiwan to meet Taiwanese counterparts and vice versa, again infuriating China.September 2018 - the U.S. State Department approves the sale to Taiwan of spare parts for F-16 fighter jets and other military aircraft worth up to $330 million, drawing a warning from China that it jeopardises cooperation between Beijing and Washington.July 2022 - U.S. President Joe Biden and Chinese President Xi Jinping hold a two-hour call, where Biden underscores that “the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.”Register now for FREE unlimited access to Reuters.comReporting by Beijing newsroom; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Milestones in relations between the U.S., China and Taiwan.

World Updated on: August 2, 2022 / 4:55 AM / CBS/AP Kuala Lumpur, Malaysia — U.S. House Speaker Nancy Pelosi arrived in Malaysia on Tuesday for the second leg of an Asian tour that's been overshadowed by an expected stop in Taiwan, which would escalate tensions with China. Beijing claims the self-ruled island as its own territory.The plane carrying Pelosi and her delegation touched down at an air force base amid tight security. She called on lower house Speaker Azhar Azizan Harun in Parliament and adjourned for a luncheon meeting with Prime Minister Ismail Sabri Yaakob. While there have been no official announcements, local media in Taiwan reported that Pelosi will arrive in Taipei on Tuesday night, becoming the highest-ranking elected U.S. official to visit Taiwan in more than 25 years. The United Daily News, Liberty Times and China Times - Taiwan's three largest national newspapers - cited unidentified sources as saying she would fly to Taipei and spend the night after visiting Malaysia. The Reuters news agency, citing flight-tracking website Flightradar24 and witnesses, reports that the U.S. Air Force jet Pelosi flew to Malaysia has taken off from Kuala Lumpur, but its destination, and whether Pelosi or her delegation were on the plane, were unclear.China, which regards Taiwan as a renegade province to be annexed by force if necessary, has warned of repercussions, saying its military will "never sit idly by" if Pelosi pushes ahead with the visit. China's threats of retaliation have driven concerns of a new crisis in the Taiwan Strait, which separates the two sides, that could roil global markets and supply chains. Chinese foreign ministry spokesperson Hua Chunying said Tuesday that Bejing has been in communication with Washington over Pelosi's expected Taiwan visit, according to Reuters.Agence France-Presse reports that Chunying  also warned that the U.S. would "pay the price" if Pelosi visits Taiwan."The US side will bear the responsibility and pay the price for undermining China's sovereign security interests," AFP quotes him as saying. This handout photo taken and released by Malaysia's Department of Information, U.S. House Speaker Nancy Pelosi, center, tours the parliament house in Kuala Lumpur on Aug. 2, 2022.  Malaysia's Department of Information via AP Moscow said Tuesday the U.S. is "bringing destabilization to the world" with the potential Pelosi Taiwan visit, AFP reports. "Not a single resolved conflict in recent decades, but many provoked ones," foreign ministry spokeswoman Maria Zakharova said on social media, according to AFP. The White House on Monday decried Beijing's rhetoric, saying the U.S. has no interest in deepening tensions with China and "will not take the bait or engage in saber rattling." White House National Security Council spokesperson John Kirby underscored that the decision on whether to visit the self-ruled island was ultimately Pelosi's. He noted that members of Congress have routinely visited Taiwan over the years. Kirby said administration officials are concerned that Beijing could use the visit as an excuse to take provocative retaliatory steps, including military action such as firing missiles in the Taiwan Strait or around Taiwan, or flying sorties into the island's airspace and carrying out large-scale naval exercises in the strait. "Put simply, there is no reason for Beijing to turn a potential visit consistent with long-standing U.S. policy into some sort of crisis or use it as a pretext to increase aggressive military activity in or around the Taiwan Strait," Kirby said. U.S. Secretary of State Antony Blinken also urged China to "act responsibly" in the event that Pelosi proceeds with the visit. "If the speaker does decide to visit, and China tries to create some kind of a crisis or otherwise escalate tensions, that would be entirely on Beijing," he told reporters at U.N. headquarters in New York. "We are looking for them, in the event she decides to visit, to act responsibly and not to engage in any escalation going forward." U.S. officials have said the military would increase its movement of forces and assets in the Indo-Pacific region if Pelosi visits Taiwan. U.S. Navy aircraft carrier USS Ronald Reagan and its strike group were in the Philippine Sea on Monday, according to officials who spoke on the condition of anonymity to discuss military operations. The Reagan, the cruiser USS Antietam and the destroyer USS Higgins left Singapore after a port visit and moved north to their homeport in Japan. The carrier has an array of aircraft on board, including F/A-18 fighter jets and helicopters, as well as sophisticated radar systems and other weapons. Taiwan and China split in 1949 after the Communists won a civil war on the mainland. The U.S. maintains informal relations and defense ties with Taiwan even as it recognizes Beijing as the government of China. Beijing sees official American contact with Taiwan as encouragement to make the island's decades-old de facto independence permanent, a step U.S. leaders say they don't support. Pelosi, head of one of three branches of the U.S. government, would be the highest-ranking elected American official to visit Taiwan since then-Speaker Newt Gingrich in 1997. Pelosi kicked off her Asian tour in Singapore on Monday but her purported visit to Taiwan has sparked jitters in the region. Singapore Prime Minister Lee Hsien Loong "highlighted the importance of stable U.S.-China relations for regional peace and security" during talks with Pelosi, the city-state's foreign ministry said. This was echoed by Japan's Foreign Minister Yoshimasa Hayashi in Tokyo, who said stable ties between the two rival powers "are extremely important for the international community as well." The Philippines urged U.S. and China to be "responsible actors" in the region. "It is important for the U.S. and China to ensure continuing communication to avoid any miscalculation and further escalation of tensions," said Foreign Affairs spokesperson Teresita Daza. China has been steadily ratcheting up diplomatic and military pressure on Taiwan. China cut off all contact with Taiwan's government in 2016 after President Tsai Ing-wen refused to endorse its claim that the island and mainland together make up a single Chinese nation, with the Communist regime in Beijing being the sole legitimate government. On Thursday, Pelosi is to meet with South Korean National Assembly Speaker Kim Jin Pyo in Seoul for talks on security in the Indo-Pacific region, economic cooperation and the climate crisis, according to Kim's office. Pelosi is also due to visit Japan, but it is unclear when she heading there.   In: Taiwan Nancy Pelosi China

Pelosi in Malaysia but all eyes on Taiwan as China warns anew about possible visit.

Entertainment August 2, 2022 / 4:09 AM / AP Beyoncé is removing an offensive term for disabled people from a new song on her record "Renaissance," just weeks after rapper Lizzo also changed lyrics to remove the same word. "The word, not used intentionally in a harmful way, will be replaced," a spokeswoman for Beyoncé wrote in a statement to The Associated Press on Monday. The song "Heated," which was co-written with Canadian rapper Drake among several others, uses the word "spaz," which is considered a derogatory reference to the medical term spastic diplegia, a form of cerebral palsy. Lizzo also removed the word from one of her songs, "Grrrls," in June after disability advocates complained about the lyrics. Lizzo said in a statement she never wanted to promote derogatory language. Disability advocate Hannah Diviney, who pointed out Lizzo's lyrics that lead to the change, wrote on Twitter that hearing the word again used by Beyoncé "felt like a slap in the face to me, the disabled community & the progress we tried to make with Lizzo."

Beyoncé removing offensive term for disabled people from new song "Heated" on her "Renaissance" album.

Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/Register now for FREE unlimited access to Reuters.comSummaryCompaniesNow expects 2022 EBITDA around $37 bln versus $30 bln previouslyQ2 revenue $21.7 bln (forecast: $19.7 bln)Q2 underlying EBITDA $10.3 bln (forecast: $8.2 bln)Shares up 1.1%COPENHAGEN, Aug 2 (Reuters) - Maersk (MAERSKb.CO) raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in key ports in China, Europe and the United States."Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated," Maersk said in a statement.Register now for FREE unlimited access to Reuters.comIt now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier. Maersk had initially expected full-year EBITDA at $24 billion.The new guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year. read more The Copenhagen-based company is often seen as a barometer for global trade as it transports goods for retailers and consumer companies such as Walmart, Nike and Unilever.Electrolux, Europe's biggest home appliances maker, last month missed second-quarter profit expectations in part due to supply chain problems, but said the supply chain situation looked better for the third and fourth quarters. read more German shipping company Hapag-Lloyd (HLAG.DE) last week also raised its earnings outlook for 2022.Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures. read more Shares in Maersk were trading up 1.1% at 0825 GMTafter touching their highest levels since early June.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts."The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping)," the company said.Maersk is due to publish a full set of results for the second quarter on August 3.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Maersk sees global supply chain woes for longer; lifts 2022 guidance.

FILE PHOTO: U.S. House Speaker Nancy Pelosi (D-CA) faces reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan Ernst/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - China has suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday, in a warning salvo to the self-governed island ahead of a potential visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi.Taiwan's official Central News Agency reported on Tuesday that among the 3,200 Taiwanese companies registered with China's customs under the category of food, 2,066 entries had been listed as "import suspension."Among the 107 entries under the category of biscuits, pastries and bread, 35 have had been listed under "import suspension", according to Reuters calculations based on registration data posted on the website of China's General Administration of Customs.Register now for FREE unlimited access to Reuters.com"I learned about the ban before I got off work last night," a business manager at one of the affected Taiwanese food producers told Reuters, adding that he did not know why his company was banned."There are food companies saying their products had been rejected at China's customs already," he said, declining to be named.The suspensions came as China repeatedly warned Pelosi against going to Taiwan, which it claims as its own, in a visit that Beijing says would contravene the one-China principle that Washington has vowed to abide by. read more China's General Administration of Customs did not immediately respond to Reuters' request for comments."We've noticed this and are trying to understand more about it," a staffer of pastries maker Kuo Yuan Ye Foods told Reuters.It was unclear if more suspensions were looming, but Taiwan's biggest exports to China by value are electronics and parts, machinery, plastics and chemicals.China has already suspended the import of a slew of items, including grouper fish, pineapples and sugar apples from Taiwan since last year, citing concerns about pests, which Taiwan strongly denied. read more Taiwan's Council of Agriculture said it would take the relevant measures to help the latest companies affected by the "short-term" suspension, it said in a statement.In 2021, China's imports from Taiwan reached a record $189 billion, according to official Taiwanese data.Register now for FREE unlimited access to Reuters.comReporting by Meg Shen and Beijing newsroom; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

China bans 35 Taiwanese food exporters in warning ahead of Pelosi visit.

Politics August 2, 2022 / 5:55 AM / AP Demand for monkeypox vaccine outpaces supply Demand for monkeypox vaccine outpaces supply 02:06 Washington — President Joe Biden is set to name top officials from the Federal Emergency Management Agency and the Centers for Disease Control and Prevention to serve as the White House coordinators to combat the growing monkeypox outbreak.The White House said Mr. Biden will announce Tuesday that he has tapped Robert Fenton, who helped lead FEMA's mass vaccination effort against COVID-19 as the agency's acting administrator when Mr. Biden first took office, as the White House coordinator. Dr. Demetre Daskalakis of the CDC will be named his deputy. Daskalakis, the director of the agency's HIV prevention division and a national expert on issues affecting the LGBTQ community, previously helped lead New York City's COVID-19 response.The White House said the pair would coordinate "strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments." Dr. Anthony Fauci, the nation's top infectious disease expert and Mr. Biden's top science adviser, praised their appointments Monday night and said he hoped they would tighten the coordination among the various federal agencies involved in the monkeypox response. "I personally think we're dealing with a really serious issue here," Fauci said. "There are a lot of unknowns. There are a lot of knowns about monkeypox, but there's still a lot of unknowns. So we've really got to implement the interventions we have, get a much better feeling for the natural history and the scope and absolutely reach out into the community, and that's the reason why I think the combination of Bob and Demetre is really a good combination." The monkeypox virus spreads through prolonged and close skin-to-skin contact, including hugging, cuddling and kissing, as well as sharing bedding, towels and clothing. People getting sick so far have been primarily men who have sex with men. But health officials emphasize that the virus can infect anyone. The virus may cause fever, body aches, chills, fatigue and pimple-like bumps on many parts of the body. The U.S. saw its first case of the monkeypox virus confirmed on May 18 and now has over 5,800 confirmed infections. The announcement of the coordinator and deputy coordinator mirrors the Biden administration's response to COVID-19, when the president centralized virus response operations out of the West Wing, first under Jeff Zients and now with Dr. Ashish Jha. Scientists say that, unlike campaigns to stop COVID-19, mass vaccinations against monkeypox won't be necessary. They think targeted use of the available doses, along with other measures, could shut down the expanding epidemics that were recently designated by the World Health Organization as a global health emergency. Still, the Biden administration has faced criticism over the pace of vaccine availability for monkeypox. Clinics in major cities like New York and San Francisco say they haven't received enough of the two-shot vaccine to meet demand and some have had to stop offering the second dose of the vaccine to ensure supply of first doses. The White House said it has made more than 1.1 million doses of vaccine available and has helped to boost domestic diagnostic capacity to 80,000 tests per week. California on Monday became the second state in three days to declare a public health emergency over monkeypox, following action this weekend by New York, but the Biden administration didn't appear to be moving in that direction. White House press secretary Karine Jean-Pierre said the decision would be up to Health and Human Services Secretary Xavier Becerra. "We look forward to partnering with Bob Fenton and Demetre Daskalakis as we work to end the monkeypox outbreak in America," Becerra said in a statement. "Bob's experience in federal and regional response coordination, and Demetre's vast knowledge of our public health systems' strengths and limits will be instrumental as we work to stay ahead of the virus and advance a whole-of-government response." California Gov. Gavin Newsom said Monday, "The seriousness of the monkeypox outbreak calls for an experienced and tested leader in emergency response, so it's no surprise President Biden has tapped Bob Fenton for this vital role. Bob has been a critical partner for California, especially during devastating wildfires and throughout the COVID pandemic." In: Monkeypox Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Biden to tap FEMA, CDC officials to head White House response to monkeypox outbreak.

Zaporizhzhia Nuclear Power Plant is seen from an embankment of the Dnipro river in the town of Nikopol, as Russia's attack on Ukraine continues, in Dnipropetrovsk region, Ukraine July 20, 2022. REUTERS/Dmytro SmolienkoRegister now for FREE unlimited access to Reuters.comSummaryFirst ship carrying Ukrainian grain on schedule - TurkeyTurkey expects similar daily sailings - officialUkrainian president frets that Russia may interfereRussia hails export restart as 'very positive'ISTANBUL, Aug 2 (Reuters) - The first ship carrying Ukrainian grain to world markets since Russia's invasion blocked exports more than five months ago is on track to safely arrive in Istanbul on Tuesday night, Turkey said, amid Ukrainian fears it could still run into problems.The vessel's departure on Monday from the Ukrainian port of Odesa for Lebanon via Turkey under a safe passage deal has raised hopes of further such departures which could help ease a burgeoning global food crisis.Turkey expects roughly one grain ship to leave Ukrainian ports each day as long as the safe passage agreement holds, a senior Turkish official, who asked to remain anonymous, said on Tuesday. read more Register now for FREE unlimited access to Reuters.comThe United Nations has warned of the risk of multiple famines this year because of the war in Ukraine.Monday's sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition since Russian troops poured over the border on Feb 24.Ukrainian President Volodymr Zelenskiy in his nightly address late on Monday called the ship's departure "the first positive signal," but warned it was too early to draw conclusions or predict how things would play out."We cannot have illusions that Russia will simply refrain from trying to disrupt Ukrainian exports," said Zelenskiy.Ozcan Altunbudak, Turkey's representative at a coordination centre created to oversee the restart of Ukrainian grain exports, said on Tuesday that the vessel, the Sierra Leone-flagged ship Razoni, was on track to anchor at Istanbul on Tuesday night.The only issue so far was a slight delay caused by bad weather, he said. The ship, which is carrying 26,527 tonnes of corn, was due to arrive in Istanbul at around midnight local time.It will then be inspected by Russian, Turkish, Ukrainian and U.N. officials under the terms of the safe passage agreement before continuing its journey to the Lebanese port of Tripoli, its planned final destination.There are other hurdles to overcome however before millions of tonnes of Ukrainian grain can leave, including clearing sea mines and creating a framework for vessels to safely enter the conflict zone and pick up cargoes. read more Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help clear the silos for the new crop.Russia has called the Razoni's departure "very positive" news. It has denied responsibility for the food crisis, saying Western sanctions have slowed its exports.Russia and Ukraine accuse each other of laying mines that now float around the Black Sea and represent a hazard to shipping.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Andrew Osborn and Michael Perry; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Turkey says ship carrying first Ukrainian grain on track for safe arrival.

In this photo illustration a Innoviz Technologies logo is displayed on a smartphone.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesIsraeli lidar maker Innoviz announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.Under the deal, Volkswagen will incorporate Innoviz's latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.The deal will run for eight years starting "mid-decade," when the first Innoviz-equipped Volkswagen Group vehicles are expected to ship. Innoviz expects to supply lidar units for between 5 million and 8 million Volkswagen Group vehicles over that eight-year term.Lidar — meaning, light detection and ranging — uses an invisible laser beam to scan surroundings and construct a detailed three-dimensional image. The sensors are considered critical components of most autonomous-driving systems, which compare the images generated by lidar with a detailed three-dimensional map to double-check the vehicle's precise location.As the costs of development and production have fallen, the sensors have seen broader adoption across vehicles and driver-assist systems – leading to fierce competition between a slew of lidar startups for automaker business.Innoviz, which went public via a merger with a special purpose acquisition company in late 2020, had previously announced the deal but had not revealed its client. The lidar maker said in May that it had won a deal with "one of the largest vehicle manufacturers in the world" to "become its direct lidar supplier across multiple brands."Innoviz's CEO, Omer Keilaf, said the company's deal with Cariad, Volkswagen's software company, was struck after more than two years of testing and due diligence."I think one of the most challenging parts was the fact that we are coming with a new product, a new generation [of lidar units], and we had to build confidence on their side to see that it's up and running. That was part of what we did in the last year," Keilaf told CNBC. "The second part was getting Volkswagen to feel comfortable with Innoviz becoming a direct supplier."The process involved in becoming a direct supplier to a major automaker is an arduous one. Generally, an automaker will put a potential new supplier's product through extensive quality and durability tests. It will also do due diligence on the potential supplier's business, accepting the supplier only after it's confident that the company will be around and financially stable for the length of the contract.Selling directly to an automaker like Volkswagen is new ground for Innoviz. The company has an existing deal with BMW, but that agreement has established auto supplier Magna International manufacturing and delivering Innoviz's lidar units to the automaker as something of a go-between.For Volkswagen, the lidar units will be made by contract manufacturers using tooling provided by – and working directly with – Innoviz, which will then supply the completed units to Volkswagen itself.Keilaf said that streamlined relationship offers advantages to both Innoviz and Volkswagen."Eventually, it was a good fit, because the new product is really intriguing in terms of performance and price," Keilaf said. "And the fact that we are a direct supplier also is very helpful in terms of bringing the cost down. It's less of a three-way kind of program."

Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors.

Uber CEO Dara Khosrowshahi during the Bloomberg Global Business Forum in New York, September 25, 2019.Shannon Stapleton | ReutersUber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue.Shares of Uber popped 13% in premarket trading.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. Still, CEO Dara Khosrowshahi said Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. "Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia," Uber said in a release.Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.

Uber reports another big loss but beats on revenue, shares pop 13%.

Russian President Vladimir Putin chairs a meeting on the development of the country's metallurgical sector, via a video link at the Kremlin in Moscow, Russia August 1, 2022. Sputnik/Pavel Byrkin/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The Kremlin warned the United States on Tuesday that an expected visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi would put it on a collision course with China and provoke tensions in the region."We cannot say for sure right now whether she will or will not get there, but everything about this tour and the possible visit to Taiwan is purely provocative," Kremlin spokesperson Dmitry Peskov told reporters.China has repeatedly warned Pelosi against going to Taiwan, which it claims as its own. Beijing says a Pelosi visit would contravene the one-China principle that Washington has vowed to abide by. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

Kremlin warns U.S. over 'provocative' Pelosi visit to Taiwan.

Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sandy Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. conspiracy theorist Alex Jones is expected to take the stand on Tuesday to defend against claims that he must pay the parents of a child killed in the Sandy Hook massacre for falsely claiming the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in a Texas court to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.comA lawyer for Jones said he had already paid a price after being deplatformed in 2018 and losing millions of viewers. Jones has since acknowledged that the shooting took place. He was expected to take the stand on Tuesday in his defense, a lawyer for the parents said.The parents are also expected to testify on Tuesday.The defamation suit in Austin, Texas, where Infowars is based, is one of several brought by families of victims who say Jones's followers harassed them as a result of his false claims.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder, Howard Goller and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Alex Jones expected to testify in defamation case over Sandy Hook shooting.

Chinese Foreign Ministry spokesperson Hua Chunying attends a news conference in Beijing, China, August 2, 2022. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - China has been in communication with the United States over U.S. House of Representatives Speaker Nancy Pelosi's expected visit to Taiwan, Chinese foreign ministry spokesperson Hua Chunying said on Tuesday.Pelosi kicked off a tour of four Asian countries on Monday in Singapore amid intense speculation that she may risk the wrath of Beijing by also visiting self-ruled Taiwan. read more Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian in Beijing, writing by Eduardo Baptista, editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

China says it is in communication with U.S. over Pelosi's expected Taiwan visit.

A patient suffering from Long COVID is examined by medical staff in the post-coronavirus disease (COVID-19) clinic of Ichilov Hospital in Tel Aviv, Israel, February 21, 2022. REUTERS/Amir CohenRegister now for FREE unlimited access to Reuters.comCHICAGO, Aug 2 (Reuters) - One of the first trials aimed at tackling long COVID helped some patients recover from lingering physical and mental fatigue, although the drug developed by Axcella Health Inc (AXLA.O) failed on the small study's main goal of restoring the normal function of mitochondria - the energy factories of cells.In the 41-patient pilot study released on Tuesday, for three of 21 patients who received the drug, AXA1125, their physical fatigue scores returned to normal levels after 28 days of treatment, Axcella Chief Medical Officer Margaret Koziel said in a phone interview.Others who received the drug also reported physical and mental improvements that were deemed to be statistically significant as shown on a scale developed to measure chronic fatigue, according to the preliminary results, and the drug was shown to be safe and well tolerated.Register now for FREE unlimited access to Reuters.com"This trial is suggesting that a drug that's very safe to take and has minimal side effects is causing substantial improvement in people's physical and cognitive experience of fatigue," said Dr. Jason Maley, a consultant for Axcella who runs a long COVID clinic at Beth Israel Deaconess Medical Center in Boston.The drug, originally developed for fatty liver disease, aims to treat the crushing chronic fatigue reported by more than half of long COVID sufferers by restoring normal function of mitochondria, the minuscule power plants that help cells perform properly.People in the trial conducted at the University of Oxford received either the Axcella drug or a placebo over a period of 28 days. All were more than 12 weeks post COVID infection and had an abnormal phosphocreatine recovery time, a measure of mitochondrial function.For the study's primary goal, there was no statistically significant difference between the groups on phosphocreatine recovery time.The trial also looked at blood tests measuring lactate, a sign of muscle health, as well as patient-reported measures of mental and physical fatigue.There are currently no approved treatments for chronic fatigue in patients with long COVID, a condition estimated to affect more than one hundred million people worldwide.Axcella Chief Executive Bill Hinshaw said the company is designing new trials and plans to meet with U.S. and UK regulators with hopes of seeking an accelerated approval pathway for this enormous unmet need.Register now for FREE unlimited access to Reuters.comReporting by Julie Steenhuysen Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Axcella long COVID treatment helps some patients in small trial.

SummaryZawahiri tracked to safe house in KabulHit by Hellfire missile while standing on balcony'This terrorist leader is no more' - BidenTaliban 'grossly violated' Doha Agreement - BlinkenKABUL/WASHINGTON, Aug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a "precision" strike in the heart of the Afghanistan capital Kabul, President Joe Biden said, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped to coordinate the Sept. 11, 2001, attacks on the United States that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri was killed when he came out on the balcony of his safe house in Kabul at 6:18 a.m. (0148 GMT) on Sunday morning and was hit by Hellfire missiles from a U.S. drone.Register now for FREE unlimited access to Reuters.com"Now justice has been delivered, and this terrorist leader is no more," Biden said in televised remarks from the White House on Monday. "No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out."Biden said he authorised the precision strike in downtown Kabul after months of planning and that no civilians were killed.Three spokespeople in the Taliban administration in Kabul declined comment on Zawahiri's death.Taliban spokesperson Zabihullah Mujahid had previously confirmed that a strike took place in Kabul on Sunday and strongly condemned it, calling it a violation of "international principles."A spokesperson for the interior ministry said a house was hit by a rocket in Sherpoor, a leafy, upscale residential neighbourhood in the centre of the city."There were no casualties as the house was empty," Abdul Nafi Takor, the spokesperson, said.Taliban authorities threw a security dragnet around the house in Sherpoor on Tuesday and journalists were not allowed nearby.A woman who lives in the neighbourhood and spoke to Reuters on condition of anonymity said she and her family of nine moved to the safe room of their house when she heard an explosion at the weekend. When she later went to the rooftop, she saw no commotion or chaos and assumed it was a rocket or bomb attack - which is not uncommon in Kabul.A senior Taliban official told Reuters that Zawahiri was previously in Helmand province and had moved to Kabul after the Taliban took over the country in August last year.U.S. intelligence determined with "high confidence" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters."Zawahiri continued to pose an active threat to U.S. persons, interests and national security," the official said on a conference call. "His death deals a significant blow to al Qaeda and will degrade the group's ability to operate."PROVIDING SANCTUARYZawahiri succeeded bin Laden as al Qaeda leader after years as its main organiser and strategist, but his lack of charisma, and competition from rival militants Islamic State, hobbled his ability to inspire devastating attacks on the West. read more There were rumours of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.A Taliban fighter stands guard near the site where Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/StringerThe drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.His death also raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The senior administration official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country."The Taliban will have to answer for al-Zawahiri's presence in Kabul, after assuring the world they would not give safe haven to al Qaeda terrorists," Adam Schiff, chairman of the House Permanent Select Committee on Intelligence, said in a statement.U.S. Secretary of State Antony Blinken said the Taliban had "grossly violated" the Doha Agreement between the two sides by hosting and sheltering Zawahiri.Former President Barack Obama joined lawmakers in praising the operation.Reuters Graphics"It's possible to root out terrorism without being at war in Afghanistan," Obama said in a Twitter message. "And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al Qaeda."Republican U.S. Senator Marco Rubio said: "The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests."Until the U.S. announcement, Zawahiri had been rumoured variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumours that he had died.WIFE, FAMILY IN SAME HOUSEThe senior U.S. official said finding Zawahiri was the result of persistent counter-terrorism work. The United States found out this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said."Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house," the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinise the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25, he received an updated report and authorised the strike once an opportunity was available, the administration official said.With other senior al Qaeda members, Zawahiri is believed to have plotted the Oct. 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan's Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle, Matt Spetalnick in Washington, Jibran Ahmad in Peshawar and Reuters staff in Kabul; Writing by Raju Gopalakrishnan; Editing by Stephen Coates and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Al Qaeda leader Zawahiri killed in U.S. drone strike in downtown Kabul.

World August 2, 2022 / 5:06 AM / AFP A Chinese influencer is under police investigation after a clip of her roasting and eating a great white shark went viral. Footage of the vlogger, popularly known by her online pseudonym Tizi, showed her feasting on the predatory fish, which police in the central city of Nanchong confirmed Sunday was a great white. "It may look vicious, but its meat is truly very tender," Tizi said while tearing off large chunks of the animal's barbecued meat, in a video posted in mid-July. In the video, since deleted, she is seen unwrapping a two-meter-long fish and lying down next to it to show that it was taller than her. The shark is then sliced in half, marinated and barbecued, while the head is cooked in a spicy broth. Great white sharks are listed as a vulnerable species by the International Union for Conservation of Nature -- just one step before being classed as endangered. Populations of sharks -- some of the oceans' most important apex predators -- have been battered over the last few decades, the main culprits being finning and industrial longline fishing. In China, they are listed as protected. Illegal possession can lead to a five-to-10-year prison term. "It is flabbergasting that an internet celebrity can eat a protected animal in front of millions in broad daylight!" wrote one commentator in response to the story. "These uncultured attention-mongers will stoop very low to attract eyeballs!" another said. It is unclear whether Tizi, who has almost eight million followers, will be punished. She told local media she acquired the shark through "legal channels," but the local agriculture bureau said Monday her claim was "inconsistent with the facts" and that police were investigating. Dried baby shark flesh is used as a cat food in China and can be bought in many online stores. Chinese state media have long waged war on viral binge-eating videos, known by the Korean slang "mukbang," while livestreaming platforms have for years promised to shut down accounts promoting excess eating and food waste. In: Great White Shark shark Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue

Chinese vlogger Tizi in hot water after clip of her roasting and eating great white shark goes viral.

Yard sign urges residents to vote on an amendment to Kansas' constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 11, 2022. REUTERS/Gabriella Borter/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Kansas will decide on Tuesday whether the state constitution should go on protecting abortion rights in a closely watched referendum that could lead to abortion access being curtailed or banned in America's heartland.The vote is the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Voters are being asked whether they want to amend the Kansas state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established such a right in Kansas. read more Register now for FREE unlimited access to Reuters.comAs a result of the 2019 ruling, Kansas - a deeply conservative state that Republican Donald Trump won with 56% of the vote in the 2016 and 2020 presidential elections - has more lenient abortion policies than some of its red-state neighbors.Kansas allows abortion up to 22 weeks in pregnancy with several additional restrictions, including a mandatory 24-hour waiting period and mandatory parental consent for minors.Passage of the proposed constitutional amendment would enable the state's Republican-dominated legislature to regulate abortion much further. That could restrict abortion access across the central United States given patients travel to Kansas from Texas, Oklahoma and Missouri, where abortion is banned in almost all cases.A poll conducted July 17-18 by research group Co/efficient showed the vote could be close, with 47% of voters in favor of taking away the constitutional right to an abortion, 43% against it and 10% undecided.The ballot question has drawn national attention and money.The Value Them Both Association, which supports the amendment, raised about $4.7 million this year, with donations from regional Catholic dioceses amounting to more than $3 million, according to campaign finance reports released in July. Federal tax law prevents non-profits like churches from donating to political candidates but permits donations to broader causes.Kansans for Constitutional Freedom, the main coalition opposing the amendment, raised about $6.5 million in 2022, including donations adding up to more than $1 million from Planned Parenthood groups.Kansas holds its primary elections for governor and other down-ballot races on Tuesday. Republicans typically turn out in greater numbers for the state's primary elections than Democrats and independents, giving the proposed amendment a higher chance of passing, political analysts said.The amendment's fate could hinge on the turnout of the 29% of registered voters who are not affiliated with a political party, and young voters who may not like Democrats but want to protect abortion rights, according to Wichita State University political science professor Neal Allen.The ballot initiative is the first of several that will ask U.S. voters to weigh in on abortion rights this year. Kentucky, California, Vermont and possibly Michigan will have abortion on the ballot this fall.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington Editing by Colleen Jenkins and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Abortion rights face voter test in Kansas after Roe v. Wade reversal.

Randy Risling | Toronto Star | Getty Images Canada's Toronto Dominion Bank will buy New York-based boutique investment bank Cowen in a $1.3 billion all-cash deal to boost its presence in the high-growth U.S market.Cash-rich Canadian banks have been on a shopping spree in the United States in recent months as they try to find growth away from their home turf where the Big Six banks already control nearly 90% of the market.The deal announced on Tuesday values each share of Cowen at $39, representing a premium of nearly 10% to the company's last closing price. Cowen shares rose 8% in premarket trading.Cowen was founded more than a century ago and offers investment banking and brokerage services to its clients.Earlier this year, TD signed its largest-ever deal when it agreed to buy regional U.S. bank First Horizon for $13.4 billion to expand in the southeastern region of the country.The companies expect the deal to close in the first quarter of 2023.

Canada's TD Bank to buy U.S. brokerage Cowen in $1.3 billion deal.

Former U.S. President Donald Trump delivers remarks at the America First Policy Institute America First Agenda Summit in Washington, U.S., July 26, 2022. REUTERS/Sarah SilbigerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Donald Trump's ongoing effort to play Republican kingmaker faces fresh tests on Tuesday as voters in five states choose candidates in high-profile races for U.S. Congress, governor and other offices ahead of November's midterm elections.In Arizona and Michigan, candidates who have embraced the former president's false claims of voter fraud could win the Republican nominations for governor, even as some in their party worry they could be too extreme to win on Nov. 8. read more Kansas voters will decide whether to amend the state constitution to allow the Republican-controlled legislature to ban or limit abortion, the first such ballot initiative since the U.S. Supreme Court eliminated the nationwide right to abortion in June.Register now for FREE unlimited access to Reuters.comTwo Republican U.S. representatives who voted to impeach Trump after the Jan. 6, 2021, assault on the Capitol by his supporters, Peter Meijer of Michigan and Jamie Herrera Beutler of Washington, also face Trump-endorsed primary challengers.On Monday, Meijer published an opinion piece decrying Democrats for running ads to boost his far-right opponent after warning such candidates are dangerous, part of a risky political strategy to improve Democrats' chances of victory in November. read more With an economy teetering on the brink of recession and inflation surging, just 37% of Americans approve of President Joe Biden's job performance. That is weighing on Democrats heading into the November general election, when Republicans are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.Democrats have also been dealt a spate of policy defeats by the heavily conservative Supreme Court, particularly on abortion, that they were powerless to stop even with control of Congress and the White House.TRUMP ENDORSEMENTSAs he continues to flirt publicly with the possibility of running for president again in 2024, Trump has endorsed more than 100 candidates in this year's elections. Most are safe bets -- incumbent Republicans in conservative districts -- but even in competitive races he's had a winning record.Trump-backed nominees have won Republican primaries for U.S. Senate in Pennsylvania, Georgia, North Carolina and Ohio, though his picks lost nominating contests for Georgia governor and for U.S. House in South Carolina."Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image," said Alex Conant, a Republican strategist. "Republicans who run against Trump tend to get trampled."On Tuesday, Arizona voters will pick between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump false claims that his 2020 election defeat was the result of fraud and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.The race for secretary of state - the state's top election official - also includes a Trump-endorsed candidate, state Representative Mark Finchem. Finchem, who was present at Trump's Jan. 6, 2021, speech in Washington that preceded the U.S. Capitol attack, wrote on Twitter on Thursday, "Trump won," prompting a Democratic candidate, Adrian Fontes, to call him a "traitor."Arizona Republicans will also pick a challenger to take on Democratic U.S. Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents.Blake Masters, a former tech executive who has backed Trump's false fraud claims, has Trump's endorsement and the backing of tech billionaire Peter Thiel. He is leading in polls against Jim Lamon, a former power company executive, and Attorney General Mark Brnovich, whom Trump blames for not reversing Biden's 2020 statewide victory.Chuck Coughlin, a veteran Republican strategist in Arizona, said there's "no doubt" that candidates such as Lake and Finchem will have a harder time winning in November.His firm conducted a recent poll that found two-thirds of Republican voters believe wrongly that the 2020 election had serious integrity problems - but the general electorate will look quite different, he said."To win a statewide election in Arizona, you have to win unaffiliated voters," he said. "Those people do not like Trump."In Missouri, former Governor Eric Greitens, who resigned in the midst of sexual assault and campaign finance fraud scandals, is seeking the Republican nomination for U.S. Senate despite calls from many within his party to withdraw out of concern that he might cost Republicans a safe seat in November.Having promised to endorse in that race, Trump on Monday recommended voters choose either Greitens or one of his rivals, state Attorney General Eric Schmitt, with a statement that simply endorsed "Eric." read more In Michigan, a chaotic Republican campaign for governor will draw to a close, with several candidates vying for the right to take on Democratic Governor Gretchen Whitmer, who became a frequent target for conservatives after her aggressive approach to shutdowns during the COVID-19 pandemic.Trump last week endorsed former Republican commentator Tudor Dixon in the race. But at a rally this weekend in Troy, some Trump-supporting backers of one of Dixon's rivals, businessman Kevin Rinke, said they would not be swayed.One attendee, Steve Moshelli, 57, said he voted for Trump twice but was sticking with Rinke."Honestly, I think his star is kind of fading," Moshelli, a businessman from Royal Oak, Michigan, said of Trump, adding that he thought the Jan. 6 committee's hearings had chipped away at Trump's power. "It's his credibility. It's starting to fade."Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Trump looms large as voters in five states choose candidates for Congress, governor.

A member of the Russian National Guard leaves the building of Russia's Supreme Court before a hearing on whether to designate Ukraine's Azov Regiment as a terrorist entity in Moscow, Russia August 2, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comSummaryThis content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.MOSCOW, Aug 2 (Reuters) - Russia's supreme court on Tuesday designated Ukraine's Azov Regiment as a terrorist group, a Reuters correspondent in the courtroom reported.The Azov Regiment, which has far-right and ultra-nationalist roots, has been one of the most prominent Ukrainian military formations fighting against Russia in eastern Ukraine.Russia has regularly cited Azov in support of its assertion that Ukraine is controlled by "fascists". Russian state propaganda has compared Azov fighters to World War Two-era Nazis, whose defeat by the Soviet Union remains a core part of Russian national identity.Previously based in the eastern Ukrainian port city of Mariupol, many of the regiment's personnel were captured by Russian forces when the city fell in May after an almost three month long siege.Officials in the Donetsk People's Republic, the Russian-backed entity which claims Mariupol as part of its territory, said in May that captured Azov Regiment fighters could face the death penalty under the self-proclaimed republic's laws.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

Russia's supreme court designates Ukraine's Azov Regiment a 'terrorist' group.

Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales on short-haul flights from Heathrow until August 8 following the London airport's decision to cap capacity and tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said the sales suspension on domestic and European destinations was designed to allow existing customers to rebook flights when needed.Airlines and airports across Britain and Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.Register now for FREE unlimited access to Reuters.comTail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoHeathrow, like Amsterdam's Schiphol airport, has told airlines to limit the number of tickets they sell over the summer, after it capped the number of passengers flying from the hub at 100,000 a day to limit queues, baggage delays and cancellations.Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling."As a result of Heathrow's request to limit new bookings, we've decided to take responsible action and limit the available fares on some Heathrow services to help maximise rebooking options for existing customers, given the restrictions imposed on us and the ongoing challenges facing the entire aviation industry," BA said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

BA halts short-haul ticket sales until Aug. 8.

JetBlue Airways Airbus A320 passenger aircraft landing at John F. Kennedy International Airport in New York City.Nik Oiko | LightRocket | Getty ImagesJetBlue Airways said Tuesday that it expects to return to its first profit since the pandemic began this quarter and that it would remain cautious on growth while costs surge.The New York-based airline lost $188 million in the second quarter on record revenue of close to $2.45 billion as it grappled with surging costs for fuel, labor and other expenses.JetBlue's third-quarter capacity will be down as much as 3% compared with 2019, a sign the carrier is holding back on growth like other airlines trying to improve reliability after a rocky start to a big summer travel season."We reported a record-breaking revenue result for the second quarter, and we're on pace to top it again here in the third quarter and drive our first quarterly profit since the start of the pandemic," CEO Robin Hayes said in an earnings release.JetBlue last week announced it had finally reached a deal to acquire ultra-low-cost carrier Spirit Airlines for $3.8 billion in cash after a long bidding war with discounter Frontier Airlines. Frontier's agreement to combine with Spirit fell apart hours before the JetBlue-Spirit deal was announced.JetBlue executives will face questions about the deal and travel demand on a 10 a.m. call Tuesday.

JetBlue forecasts return to profit in third quarter, holds back on growth as costs surge.

An image of Speaker of the House Nancy Pelosi holding her weekly press conference on Capitol Hill on Friday, July 29, 2022 in Washington, DC. U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.Kent Nishimura | Los Angeles Times | Getty ImagesU.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, while the United States said on Monday that it would not be intimidated by Chinese "sabre rattling".In addition to Chinese planes flying close to the median line of the strait, several Chinese warships sailed near the unofficial dividing line since Monday, the source told Reuters. The source said both Chinese warships and aircraft "squeezed" the median line on Tuesday morning, an unusual move the person described as "very provocative."The Chinese aircraft repeatedly conducted tactical moves of briefly "touching" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby, the person said.CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to BidenThe Chinese planes left the area in the afternoon but the ships remained, the person said.Neither side's aircraft normally cross the median line.Taiwan's Defence Ministry said in a statement it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to "enemy threats".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online, which could not immediately be verified by Reuters.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.Wednesday meetings Most of Pelosi's planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, a person familiar with her itinerary said.Four sources said Pelosi was scheduled to meet a group of activists who are outspoken about China's human rights record on Wednesday afternoon.Earlier on Tuesday, Pelosi visited Malaysia, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans.China's foreign ministry reiterated its opposition to a Taiwan visit by Pelosi."Faced with reckless U.S. disregard of China's repeated and serious representations, any countermeasures taken by the Chinese side will be justified and necessary, which is also the right of any independent and sovereign country," spokesperson Hua Chunying told a daily briefing in Beijing.'Spurious' claimsBeijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further "spurious legal claims" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday."We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated," Kirby said.China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'Chess piece'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit."The speaker has the right to visit Taiwan," he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and "those who play with fire will perish by it".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Accustomed to being caught in the middle of China-U.S. tensions, people in Taiwan expressed mixed views on a Pelosi's visit."Regarding China's statements or hateful comments, this has actually always been like that. So, we look at it with peace of mind and are not overly scared," Yang Hsing-ruel, a 22-year-old university student, said while expressing hope that the visit would bolster ties between Taiwan and the United States.Fellow student Chang Yun-fan, 22, had few expectations."In the end we are just a chess piece in someone else's game," he said.

Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit, report says.

Taiwanese Presidential Office is seen through barbed wire fence during a rally against the overhaul of the military and civil service pension fund, in Taipei,Taiwan January 22, 2017. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - The website of Taiwan's presidential office received an overseas cyber attack on Tuesday and was at one point malfunctioning, a source briefed on the matter said.The website was shortly brought back online, the source told Reuters. U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as frictions rose across the sensitive Taiwan Strait. read more Register now for FREE unlimited access to Reuters.comReporting By Yimou LeeOur Standards: The Thomson Reuters Trust Principles.

Website of Taiwan's presidential office receives overseas cyber attack - source.

Take a look at some of the biggest movers in the premarket:Caterpillar (CAT) – The heavy equipment maker's stock fell 3.7% in the premarket after its quarterly earnings beat forecasts but revenue was slightly short of consensus. Caterpillar's sales were hurt by its exit from Russia as well as supply chain issues, and it also saw elevated costs during the quarter.Uber Technologies (UBER) – Uber reported a quarterly loss of $1.33 per share, including the impact of a $1.7 billion headwind from a drop in the value of its investments. The ride-hailing company's revenue did come in better than expected, and it turned cash flow positive for the first time. Its shares rallied 10.8% in premarket action.Pinterest (PINS) – Pinterest shares soared 18.6% in premarket trading following its quarterly results and the news that activist investor Elliott Management is now the image-sharing site's largest shareholder. Pinterest reported lower-than-expected earnings, but revenue was only slightly below forecasts and user numbers were somewhat better than expected.Royal Caribbean (RCL) – Royal Caribbean fell 1.2% in premarket action after it announced the pricing of an upsized $1 billion debt offering. The cruise line operator will use the proceeds to refinance existing convertible notes.Simon Property Group (SPG) – The shopping mall operator reported better-than-expected quarterly earnings, although its revenue was slightly below Street forecasts. Simon CEO David Simon said mall sales are doing well despite inflation concerns and that the company is positioned to do well in a potential recession. Simon shares added 2.2% in the premarket.Cowen Group (COWN) – The financial services firm's shares rallied 7.5% on news that it agreed to be acquired by TD Bank (TD) for $39 per share or $1.3 billion in cash.Avis Budget (CAR) – The rental car company's stock jumped 4% in premarket trading after it reported better-than-expected quarterly results. Avis Budget said it benefited from strong demand and "stringent" cost controls.Arista Networks (ANET) – The cybersecurity firm reported better-than-expected profit and revenue for its most recent quarter and gave upbeat revenue guidance for the current period. Arista's results got a boost from strong demand from cloud and data center customers, and its stock gained 5.4% in premarket action.Zoominfo Technologies (ZOOM) – The business software company's stock surged 11.3% in the premarket after it reported better-than-expected quarterly results and raised its full-year guidance.

Stocks making the biggest moves in the premarket: Caterpillar, Uber, Pinterest and more.

Covestro's headquarters in Leverkusen, Germany. The company has adjusted its full year guidance for 2022, citing a number of factors.Ina Fassbender | AFP | Getty ImagesGerman materials giant Covestro warned Tuesday that the rationing of gas could see some of its sites shut down, as its CEO stressed the importance of reducing the company's reliance on fossil fuels.In a statement outlining the company's performance in the second quarter of 2022, Covestro said it was undertaking "various measures" to lower, over the short term, its gas requirements in Germany, where the firm's facilities represent roughly 25% of its worldwide production capacity.These measures include using oil-based steam generators. "If gas supplies are rationed in the further course of the year, this could result in partial load operation or a complete shutdown of individual Covestro production facilities, depending on the level of the cutback," the company said."Due to the close links between the chemical industry and downstream sectors, a further deterioration of the situation is likely to result in the collapse of entire supply and production chains," it added.Covestro's warning comes as European economies attempt to formulate and implement strategies that reduce their reliance on Russian fossil fuels following Moscow's unprovoked invasion of Ukraine in February.Russia was the biggest supplier of both petroleum oils and natural gas to the EU last year, according to Eurostat. But the country has significantly reduced flows of natural gas to Europe since Western nations imposed tough sanctions on the Kremlin as a result of the war in Ukraine.Read more about energy from CNBC ProTuesday saw Leverkusen-headquartered Covestro report that group sales in the second quarter had grown by 18.9% to hit 4.7 billion euros (around $4.81 billion). Earnings before interest, taxes, depreciation, and amortization, however, slumped by 33% to 547 million euros.The company also said it had adjusted its full year guidance for 2022, stating that the war in Ukraine had "fundamentally changed the geopolitical situation and caused extensive consequences for the global economy.""The Group therefore expects continued impacts on global supply chains, very high energy price levels, high inflation and weaker growth in the global economy," it said.Against this backdrop, EBITDA is now expected to come in at between 1.7 billion and 2.2 billion euros, compared to 2.0 billion and 2.5 billion euros.Speaking to CNBC Tuesday morning, CEO Markus Steilemann outlined the company's strategy going forward. Among other things, he cited energy saving programs that were already in place and would continue."Secondly, wherever possible we will switch from gas as a fuel to, for example, oil or other alternative sources," he said.Steilemann added that Germany as a country was also "preparing to get less and less energy that is based on gas. So all these measures will help … to decrease our dependency, as a company, on gas."Expanding on his point, he said it was important Covestro continued with its strategy of "getting rid of fossil fuels" as both an energy and raw material source.Moving toward a circular economy "where we can finally forego the dependency on fossil fuels" was also crucial, he argued.—CNBC's Silvia Amaro contributed to this report

German chemicals firm warns of production chain collapse as Putin squeezes gas flows.