China’s economy gets welcome boost from surprisingly strong Aug exports
Moreover, some of the port gridlock appears to have cleared in a boost to China’s shippers last month. That put further pressure on global supply chains already struggling with a shortage of container vessels and high raw material prices. Companies faced increasing pressure https://www.reuters.com/world/china/chinas-factory-activity-expands-slower-pace-august-official-pmi-2021-08-31 in August as factory activity expanded at a slower pace while the services sector slumped into contraction. China posted a trade surplus of $58.34 billion in August, versus the poll’s forecast for a $51.05 billion surplus and $56.58 billion in July. The trade surplus with the United States – a source of years-long friction between the two economic powers – rose to $37.68 billion from $35.4 billion in July, Reuters calculations based on the customs data showed.
Source:MetroXpress
September 07, 2021 03:33 UTC
Australian court orders Allianz pay $1.1 million penalty for travel insurance sales
(Reuters) – An Australian court fined local units of Allianz SE for selling travel insurance to ineligible customers and not properly disclosing how it calculated premiums on Expedia websites, the country’s corporate watchdog said. The units, Allianz Australia and AWP Australia, committed A$10 million in October last year to compensate around 31,500 customers who were sold potentially incorrect travel insurance through Allianz’s own website and Expedia, ASIC said. Allianz Australia issued the travel insurance while AWP handled its sale. ASIC said the court took into consideration the early admission by the Allianz companies in deciding the penalty. The two units also face separate criminal charges https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-029mr-criminal-charges-laid-against-allianz-and-awp-alleging-the-making-of-false-statements for allegedly making inaccurate statements between 2016 and 2018 when selling both domestic and international travel insurance.
Source:MetroXpress
September 06, 2021 23:03 UTC
First look: UAB at Georgia odds and lines, UGA looks to avoid Week 2 letdown
Joe WilliamsSportsbook WireThe UAB Blazers (1-0) and Georgia Bulldogs (1-0) meet Saturday at Sanford Stadium in Athens, Ga. Kickoff is scheduled for 3:30 p.m. Below, we look at the UAB vs. Georgia odds and lines; check back for our college football picks and predictions. UAB at Georgia odds, spread and linesOdds provided by Tipico Sportsbook; access USA TODAY Sports' betting odds for a full list. Money line: UAB +1300 (bet $100 to win $1,300) | Georgia -5000 (bet $5,000 to win $100)UAB +1300 (bet $100 to win $1,300) | Georgia -5000 (bet $5,000 to win $100) Against the spread/ATS: UAB +26.5, -112 (bet $112 to win $100) | Georgia -26.5, -108 (bet $108 to win $100)UAB +26.5, -112 (bet $112 to win $100) | Georgia -26.5, -108 (bet $108 to win $100) Total (Over/Under): Over 44.5, -112 (bet $112 to win $100) | Under 44.5, -108 (bet $108 to win $100)PLAY: Try our new, free daily Pick'em Challenge and win. 2020 betting stats (regular season):ML: UAB 6-3 | Georgia 7-2UAB 6-3 | Georgia 7-2 ATS : UAB 3-6-0 | Georgia 4-5-0: UAB 3-6-0 | Georgia 4-5-0 O/U : UAB 4-5-0 | Georgia 6-3-0UAB at Georgia head-to-headGeorgia leads the all-time series 2-0, with the last meeting a 34-0 win in Athens Sept. 16, 2006.
Source:MetroXpress
September 06, 2021 20:15 UTC
Porsche AG sees 'huge' demand for all-electric Taycan
MUNICH (Reuters) – Luxury sports car maker Porsche AG is attracting huge demand for its Taycan model, causing wait times for the all-electric coupe to stretch to six months, CEO Oliver Blume said on Monday. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the first half of the year,” Blume told a panel discussion at the IAA Mobility show in Munich. “Incoming orders are huge – they are good in China too,” said Blume, adding that the Volkswagen group unit was, like other carmakers, battling chip shortages and had more incoming orders than it could meet. Normal waiting times for a new vehicle were four months but they have now stretched to half a year, he said. (Reporting by Ilona Wissenbach, Writing by Douglas Busvine, editing by Mark Heinrich)
Source:MetroXpress
September 06, 2021 18:22 UTC
Factbox-U.S. Gulf Coast energy companies struggle to restart production after Ida hit
(Reuters) – Energy companies mostly continued to keep output halted even a week after Hurricane Ida made landfall, one of the most powerful storms ever to hit the U.S. Gulf Coast. About 88%, or 1.6 million barrels per day (bpd), of crude oil production and 83%, or 1.8 billion cubic feet per day, of natural gas output remains shut in the U.S. side of the Gulf of Mexico, the Bureau of Safety and Environmental Enforcement (BSEE) said on Sunday. Insurers could face a hit of about $1 billion from physical damage to offshore rigs and structures from the storm, according to preliminary estimates from U.S. property data and analytics company CoreLogic. Gulf of Mexico offshore wells account for 17% of U.S. crude oil production and 5% of dry natural gas production. More than 45% of total U.S. refining capacity lies along the Gulf Coast.
Source:MetroXpress
September 06, 2021 12:11 UTC
Oil falls after Saudi price cuts
NEW YORK (Reuters) – Oil prices fell on Monday after Saudi Arabia’s sharp cuts to crude contract prices for Asia revived concerns over the demand outlook. The price cuts were larger than expected, based on a Reuters poll of Asian refiners. “When the Saudi giant cuts its selling prices to Asia for October, signaling it sees the supply-demand relationship slightly shifting, traders can’t but follow down that path today,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. About 1.5 million barrels per day of oil production in the Gulf of Mexico remain shut in after Hurricane Ida, the Bureau of Safety and Environmental Enforcement said on Monday. The oil rig count last week fell the most since June 2020.
Source:MetroXpress
September 06, 2021 11:19 UTC
Tennis: U.S. Open day seven
Alcaraz, 18, beat Germany’s Peter Gojowczyk 5-7 6-1 5-7 6-2 6-0 to become the youngest men’s player in the professional era to reach the U.S. Open quarter-finals. Fernandez next faces fifth seed Elina Svitolina, who knocked out Simona Halep 6-3 6-3. She will be up against French Open winner Barbora Krejcikova, who overcame breathing difficulties to beat twice Grand Slam champion Garbine Muguruza 6-3 7-6(4). 1935 MEDVEDEV MARCHES ONSecond seed Daniil Medvedev cruised into the quarter-finals with comfortable 6-3 6-4 6-3 victory over Britain’s Dan Evans. 1735 SVITOLINA TOO GOOD FOR HALEPFifth seed Elina Svitolina easily dispatched former world number one Simona Halep in straight sets, winning 6-3 6-3 in 76 minutes.
Source:MetroXpress
September 06, 2021 08:03 UTC
Tennis-Briton Raducanu prepared to tackle Rogers, home crowd at US Open
Raducanu, ranked 150th in the world, became the first player this century to make the second week of her first two Grand Slam main draw appearances and has yet to drop a set at Flushing Meadows. “I think not playing in front of your home crowd, you have a different level of motivation,” Raducanu said. “She’s fearless, she’s playing very well and she’s inspired,” said Rogers, who earned the biggest win of her career by beating Barty. “It’s going to be a battle, I’m ready for it.”Another American making waves at the year’s final Grand Slam is wildcard Jenson Brooksby. The 20-year-old — ranked 99th in the world — is counting on the support from the stands when he faces top seed Novak Djokovic.
Source:MetroXpress
September 06, 2021 04:18 UTC
JD.com says founder Liu to step away from day-to-day operations
SHANGHAI (Reuters) – China’s JD.com said on Monday founder and chief executive Richard Liu will switch his focus to the e-commerce giant’s long-term strategy, creating the new role of president to run the company’s day-to-day operations. Citi analysts said Xu’s promotion reflected the way he had proven his leadership and management skills in spearheading JD Retail’s operations and he was a potential successor to Liu. “We believe if Mr. Xu further proves his management capability, we would not be surprised if he is positioned as a potential successor to Mr. Richard Liu should Mr. Liu decide to step down one day,” they said in a Monday note. Following Xu’s promotion, Liu will retain his board seat and position as CEO of JD.com, a company spokesperson confirmed. In 2021, ByteDance founder Zhang Yiming announced he would step down from his role as CEO, while Pinduoduo Inc founder stepped down as chairman following an earlier resignation of his CEO title.
Source:MetroXpress
September 06, 2021 03:45 UTC
Saudi Arabia slashes crude prices to Asia; U.S., Europe prices steady
DUBAI/SINGAPORE (Reuters) – Saudi Arabia, the world’s top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United States steady. The price differential in September was a premium of $3 per barrel, the highest since February 2020. The deep price cuts were likely to increase demand for Saudi crude, oil traders in Asia said, encouraging buyers to nominate full volumes for October. Elsewhere, Saudi Aramco kept the price differential of light crude to northwest Europe unchanged, at a discount of $1.70 per barrel versus ICE Brent crude. It also kept the price differential of light crude to the United States unchanged at a premium of $1.35 per barrel versus ASCI.
Source:MetroXpress
September 06, 2021 02:40 UTC
U.S. condemns Russia’s detention of Crimean Tatar leader, 45 others
WASHINGTON (Reuters) – The United States on Sunday strongly condemned what it said was Russia’s detention at the weekend of the deputy leader of the main representative body of Crimean Tatars and at least 45 other members of the ethnic group. A State Department statement said Nariman Dzhelyalov, deputy chairman of the Crimean Tatars’ Mejlis, was detained on Saturday by Russian occupation authorities in Crimea. It said at least 45 other Crimean Tatars had also been detained. Ukrainian Foreign Minster Dmytro Kuleba posted a tweet on Saturday saying Russia had “escalated terror in the occupied Crimea” by detaining five people, including Dzhelyalov. Washington has been Kyiv’s most powerful backer since Russia annexed Crimea and the conflict in eastern Ukraine began.
Source:MetroXpress
September 06, 2021 02:26 UTC
Tennis-Fearless Fernandez knocks out another champion to reach quarter-finals
NEW YORK (Reuters) – Leylah Fernandez brushed aside yet another former champion as the fearless Canadian teenager stormed into the quarter-finals of the U.S. Open on Sunday with a 4-6 7-6(5) 6-2 win over 16th seed Angelique Kerber. “Honestly, the crowd has been amazing, so thanks to them I was able to win,” said Fernandez, who next faces fifth seeded Ukrainian Elina Svitolina. But Fernandez remained unfazed, fist-pumping and screaming with each winner throughout a tight second set that went to a tie-break that she took 7-5. “I think she played also one of her best matches inher career, and she had nothing to lose. She really is going for her winners.”(Reporting by Steve Keating in New York; Editing by Simon Jennings and Stephen Coates)
Source:MetroXpress
September 05, 2021 22:52 UTC
Golf-Europe takes two point lead into final day of the Solheim Cup
(Reuters) – Team Europe’s Mel Reid birdied the 18th hole to draw even with the Americans in the final four-ball match on Sunday to give the visitors a 9-7 lead heading into the final day of the Solheim Cup in Toledo, Ohio. But Reid’s approach shot from 136 yards out on the par-four 18th rolled out of the rough lining the green and settled near the cup. “I was sitting right there and was watching it, watching it,” European captain Catriona Matthew said of Reid’s approach shot. But the Europeans kept their composure and Reid’s late heroics limited the American duo to a half point. “Every half point, I’ve realized over the years, is absolutely crucial,” Matthew said.
Source:MetroXpress
September 05, 2021 17:15 UTC
Tennis-U.S. Open day seven
2340 SABALENKA SEES OFF MERTENSSecond seed Aryna Sabalenka of Belarus reached her first U.S. Open quarter-final with a comfortable 6-4 6-1 win over her good friend and former doubles partner Elise Mertens. 1935 MEDVEDEV MARCHES ONSecond seed Daniil Medvedev cruised into the quarter-finals with comfortable 6-3 6-4 6-3 victory over Britain’s Dan Evans. 1545 PLAY RESUMES AFTER LIGHT RAIN ON OUTSIDE COURTSTwo doubles matches — on Court 17 and Grandstand — got back underway after they were briefly interrupted by rain. Heavy rain is not forecast on day seven. (Compiled by Dhruv Munjal and Simon Jennings in Bengaluru, editing by Ed Osmond and Christian Radnedge)
Source:MetroXpress
September 05, 2021 15:56 UTC
Bitcoin rises back above $50,000
(Reuters) – Bitcoin rose 0.49% to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close. The world’s biggest and best-known cryptocurrency is up 81% from this year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 1.16% to $3,932.07 on Sunday, adding $44.97 to its previous close. (Reporting by Bhargav Acharya in Bengaluru; Editing by David Goodman)
Source:MetroXpress
September 05, 2021 10:40 UTC