Category: Reuters

Chelsea will continue to fight hard for success says Tuchel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Chelsea are dealing with British government restrictions on their operations in a professional manner and will do whatever it takes to advance in their Champions League last-16 second-leg tie at Lille on Wednesday, coach Thomas Tuchel said.

Chelsea’s Russian owner Roman Abramovich was sanctioned by the government while the Premier League has also disqualified him as a director. Under the terms of a licence issued by the government, Chelsea’s operations are limited in scope.

Tuchel said the European champions had to make adjustments in how many staff are travelling and staying in Lille and that such discussions had never taken place before, with an operations team taking care of all their needs.

“We have to deal with it. There are new things to talk about, like how to arrive at games. Things that are normally taken care of,” Tuchel told reporters on the eve of the return leg in France, with Chelsea leading 2-0 from the first game.

“We have a framework to go to Lille and play in Lille. There will be no excuses. It’s already more difficult to arrange things in the best way possible for the FA Cup (quarter-final at Middlesbrough on Saturday).

“As long as we have shirts, as long as we are alive, we will arrive, be competitive and fight hard for our success. We owe it to the people who normally support us … Of course, we’re in the spotlight but this is our responsibility.”

Tuchel added that he did not have a choice in being the voice of the club in a tumultuous two-week period and said he would continue to face questions about any new owner.

“A new owner needs to arrive, needs to be approved, and then be allowed to own the football club. Then we can discuss about it, if it’s necessary,” Tuchel said.

“There is a process how you become an owner in this league, and of course … everybody relies on the process and the values which are behind the decisions and allowance to run a club.

“I don’t think too much about it (being the voice of the club). I try to be honest, give you an insight and give you information from a coach’s heart. This is what I try and what you can rely on.”

Chelsea fans have been urged by British Prime Minister Boris Johnson’s spokesperson not to chant for Abramovich, terming it “completely inappropriate” under the circumstances, but Tuchel said he did not want to comment on the matter.

“I don’t know if it’s the most important subject to be discussed in parliament. If it is, maybe we have to worry about the priority of discussions there,” Tuchel said.

“There are far more urgent things to discuss and handle.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Christian Eriksen in Denmark squad for first time since cardiac arrest at Euros

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Christian Eriksen was called up to the Denmark national squad on Tuesday, the first time he has been selected since he suffered a cardiac arrest at the European Championship last year.

Denmark coach Kasper Hjulmand included midfielder Eriksen in the 23-man squad that will play against the Netherlands and Serbia in friendly internationals at the end of this month.

Eriksen, 30, signed for Premier League side Brentford in January as a free agent for the rest of the season after Inter Milan had to terminate his contract due to Serie A rules.

Since moving from Italy to England, Eriksen has featured in three Premier League games for Brentford.  The midfielder assisted Ivan Tonney for Brentford’s opener in the team’s 2-0 win over Burnley on Saturday.

Eriksen was fitted with a special heart-starting device known as an Implantable Cardioverter Defibrillator (ICD) device, which is not permitted in the Italian top flight.

Denmark have already qualified for the World Cup in Qatar which starts in November.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Oil settles near 2014 high on Russia-Ukraine escalation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Oil edged close to $100 a barrel on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, but pared gains to end near 2014 highs following Western efforts to stop what they fear is the beginning of a full-scale Russian invasion.

The US and Britain announced sanctions targeting Russian banks, while the European Union blacklisted more politicians and Germany put the brakes on the $11 billion Nord Stream 2 gas pipeline project.

”The market obviously pumped in excess risk premium as Russia entered the separatists’ portion of the Ukraine and this fear premium gradually dissolved,” said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois.

Global benchmark Brent crude traded as high as $99.50 a barrel, its highest since September 2014, before settling at $96.84 with a $1.52, or 1.5 percent, gain.

U.S. West Texas Intermediate (WTI) crude also hit a seven-year high as it peaked at $96 a barrel, before ending at $92.35, $1.28, or 1.4%, higher from Friday. The US market was closed on Monday for a public holiday.

US President Joe Biden announced the first wave of sanctions against Russia, targeting Russian banks and sovereign debt, and vowed steeper punishments ahead if Russia continues its aggression. The sanctions did not include energy supplies.

The Ukraine crisis has added further support to an oil market that has surged on tight supplies as demand recovers from the COVID-19 pandemic.

The Organization of the Petroleum Exporting Countries (OPEC) and allies, together known as OPEC+, have resisted calls to boost supply more rapidly.

Nigeria’s minister of state for petroleum on Tuesday stuck to the OPEC+ view that more supply was not needed, citing the prospect of more production from Iran if its nuclear deal with world powers is revived.

Talks on restoring a deal to curb Iran’s nuclear programme and ease sanctions are near conclusion, a Russian envoy said, which could eventually boost Iran’s oil exports by more than 1 million barrels per day.

Catch up on all LIVE action in Russia-Ukraine Crisis.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Analysis: US, allies united if Russia invades, at odds over other scenarios

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The United States and its allies have mapped out detailed plans for coordinated, severe sanctions if Russian troops physically invade Ukraine, but how they should respond to other kinds of aggressions is far from agreed, US and European officials say.

That ambiguity could slow the pushback Russian President Vladimir Putin will face if Russia repeats past tactics like identifiable cyberattacks, a disinformation campaign, or stepped-up support for pro-Russian separatists.

Senior European diplomats, requesting anonymity, told Reuters there had been some planning for “a range of scenarios” and various contingencies, including the kind of cyberattack seen in Ukraine this week that has yet to be conclusively linked to Russia, but any coordinated response would require additional consultations.

While there is general agreement that sanctions would be ready within 48 hours of an “invasion,” discussions around what, exactly, the trigger point would continue, they said.

“You can think of thousands of scenarios” that Russia could execute in or around Ukraine that would raise the question of whether sanctions were merited, said one senior EU official. “It is a purely and highly political discussion in the end,” the official said.

Germany, a key ally in the coordinated response given its strong trading ties with Russia, has argued hard both in public and behind closed doors for what it calls “strategic ambiguity” about the plans to keep Putin guessing.

For all the talk of a “massive” EU sanctions package, European diplomats say Russia’s closest friends in the bloc – Hungary, Italy, and Austria – have an understanding that these will only be imposed if there is a Russian military attack.

The hyperfocus on a physical invasion has taken some of the attention off other irregular warfare threats, but it also reflects differences among the allies on how to respond to non-military actions, one US official said.

The White House did not immediately respond to a request for comment.

Sweden has suggested a discussion about a course of action if Putin never attacks and reduces troop levels slightly, but sits on the border with Ukraine, massively pressuring the Ukrainian economy and firing off the occasional cyberattack.

The rest of the bloc is not keen to delve into this scenario, because it threatens to open up EU divisions and break the united front, several officials said.

“Many EU countries do not want to get into a discussion about what else might merit sanctions, be it cyber or a sustained military presence on Ukraine’s borders but no invasion, because those closest to Russia, such as Hungary, will be against any sanctions short of a military invasion,” said one of the senior diplomats.

Others, including Poland, argue that the EU should only respond if this type of harassment of Ukraine continues “indefinitely.”

A second US official noted that it was also difficult to plan for the wide range of actions Russia could take. Telegraphing US and allied plans now could allow Putin to do a more precise cost-benefit analysis, giving him a potential advantage.

The White House was forced to clarify the US definition of “invasion” in January as military troops across the border, after President Joe Biden told reporters a “minor incursion” might bear a lower cost.

US national security adviser Jake Sullivan told reporters this week that Biden believed that in order for sanctions to be effective, they needed to be imposed if Putin moved against Ukraine, not beforehand.

The most important factor was that the West remained strong and united in its effort to deter Putin, he said.

The priority now was to avoid what increasingly looked like “an imminent military invasion” of Ukraine, one of the diplomats said.

Read Also | Russia-Ukraine crisis: Security threat seems higher than during Cold War, says UN chief Antonio Guterres

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US says Americans in Ukraine should depart immediately

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The US has urged Americans in Ukraine to leave immediately due to the ”increased threats of Russian military action” against Ukraine.

”Do not travel to Ukraine due to the increased threats of Russian military action and COVID-19; those in Ukraine should depart now via commercial or private means,” the US State Department said in an advisory.

Russia denies planning an attack on Ukraine but has amassed tens of thousands of troops on its border with Ukraine.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Omicron survives much longer on plastic, skin than earlier coronavirus variants: Study

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Omicron variant of coronavirus can remain alive on skin for over 21 hours, and more than eights days on plastic surfaces, which may be contributing to its faster spread compared to other strains, according to a study. The researchers from Kyoto Prefectural University of Medicine in Japan analysed the differences in viral environmental stability between the SARS-CoV-2 Wuhan strain and all variants of concern (VOCs).

The yet-to-be peer-reviewed study, posted recently on the preprint repository BioRxiv, found that the Alpha, Beta, Delta, and Omicron variants exhibited more than two-fold longer survival on plastic and skin surfaces, than the Wuhan strain. “The high environmental stability of these VOCs could increase the risk of contact transmission and contribute to their spread,” the authors of study said.

“This study showed that Omicron has the highest environmental stability among VOCs, which might be one of the factors that have allowed the variant to replace the Delta variant and spread rapidly,” they said. The study shows on plastic surfaces, average survival times of the original strain and the Alpha, Beta, Gamma and Delta variants were 56 hours, 191.3 hours, 156.6 hours, 59.3 hours, and 114 hours, respectively.

That compared to 193.5 hours for the Omicron variant, according to the researchers. On skin samples, average virus survival times were 8.6 hours for the original version, 19.6 hours for Alpha, 19.1 hours for Beta, 11 hours Gamma, 16.8 hours for Delta and 21.1 hours for Omicron, they said.

There was no significant difference in survival times between Alpha and Beta variants, and they had similar environmental stability, which is consistent with the results of previous studies, according to the researchers. Although Alpha, Beta, Delta, and Omicron variants showed a slight increase in ethanol resistance in response to increased environmental stability, all VOCs on the skin surface were completely inactivated by 15 second exposure to 35 per cent ethanol.

“Therefore, it is highly recommended that current infection control (hand hygiene) practices use disinfectants… as proposed by the World Health Organisation,” the researchers added. The Omicron variant is currently a major concern owing to the rapidly increasing number of infected patients worldwide.

Read Also | EXPLAINER: What’s known about ‘stealth’ version of Omicron?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Crypto exchange FTX US valued at $8 bn as first fund-raise draws SoftBank, Temasek

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Cryptocurrency exchange FTX US said on Wednesday it had notched a valuation of $8 billion after raising $400 million in its first funding round from investors including Japan’s SoftBank Group Corp and Singapore’s Temasek Holdings.

The Series A funding also includes investments from crypto investment firm Paradigm and Multicoin Capital.

“What this raise means to us is that we are officially establishing ourselves on the stage of the largest competitors of cryptocurrency exchanges in the US, and signaling to the world that we are going to continue to expand very rapidly,” FTX US President Brett Harrison said.

With the value of cryptocurrencies surging, surpassing $3 trillion in November, venture capital investors are increasingly looking to put down stakes in the industry.

Read Also | World invested $30 bn in crypto in 2021; more than all previous years combined: Report

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bentley to produce first fully-electric car in 2025

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Luxury British carmaker Bentley said on Wednesday it would start production of its first fully-electric car in 2025, a significant milestone in the Volkswagen AG unit’s planned shift to a fully-electric model line-up by 2030.

Bentley also committed to investing £2.5 billion ($3.4 billion) in sustainability over the next decade.

The carmaker said it would reconfigure its UK plant in Crewe to build the new vehicle. It did not provide further details on what form its first fully-electric vehicle will take.

Across the auto industry, major manufacturers have been rolling out plans to electrify their car ranges, with looming fossil-fuel car bans spurring them on to make huge investments in the new technology.

Earlier this month, Bentley said it had cruised to a record year in 2021 as global sales jumped 31 percent amid strong demand for high-end vehicles.

($1 = 0.7426 pounds)

Read Also | Fossil-free steel to help automakers manufacture cleaner cars; here’s how

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Global share sell-off pauses in Asia as investors await Fed policy update

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Asian share markets steadied on Wednesday after three sessions of losses as investors awaited any hints about faster tightening of monetary policy from the US Federal Reserve later in the day.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent on Wednesday, after sharp losses earlier in the week which have left the index off 2.8 percent this year. It is testing mid-December’s one-year low.

Japan’s Nikkei pared some early losses to trade 0.37 percent lower, hovering around its lowest level since December 2020.

The cautious rebound for shares looked set to continue in Europe, with pan-region Euro Stoxx 50 futures 0.5 percent higher, and FTSE futures were up 0.8 percent.

Nasdaq futures climbed 0.3 percent in Asian trading, while the S&P 500 e-minis were flat, after all three main US indices had fallen on Tuesday.

The Fed is due to update its policy plan later on Wednesday (1900 GMT) after a two-day meeting, and markets are priced for its first rate hike in March, with three more quarter-point increases by year-end.

“Asian markets are currently being affected by volatility in global markets, concerns about Fed tightening in the face of higher inflation and uncertainty about events in Russia and Ukraine,” said Mansoor Mohi-uddin, chief economist at Bank of Singapore.

“We expect the Fed meeting, however, will not add to volatility. The central bank is set to only finish its quantitative easing in March and while it will signal interest rates are likely to be raised in March too, the Fed will endorse market expectations for quarterly 25bps hikes for its Fed funds rate rather than more aggressive tightening this year,” Mohi-uddin added.

Growing tensions as Russian troops massed on Ukraine’s border have added to a risk-averse environment for investors.

Globally, US stocks posted their worst week since 2020 last week, and MSCI’s world index is on course for its biggest monthly drop since the COVID-19 pandemic hit markets in March 2020.

However, analysts thought this was unlikely to derail the Fed’s plans to tighten policy.

“As long as turbulence remains relatively contained to equity markets, the bar for the Fed becoming dovish is high,” said analysts at Nomura in a note.

They said they thought some of the Fed’s policy committee would interpret the latest sell-off in equities as potentially taking out some of the “froth” in the market, so it would not change their view, especially amid worries about high inflation.

On Wednesday, China’s blue-chip index reversed earlier gains to slide 0.33 percent to its lowest since October 2020, while Hong Kong’s Hang Seng Index was down 0.3 percent.

Hao Hong, Head of Research at BOCOM International, expects limited appetite from investors to hold big positions in Asia after heavy market selling, as the Lunar New Year holiday approaches.

US Treasuries were steady, with yields on two-year notes at 1.0313 percent, holding onto gains made earlier this month. The yield on benchmark 10-year Treasury notes was 1.7743 percent, a little below the two-year high of 1.9 percent hit last week.

The dollar index against a basket of major currencies was mostly unchanged, with the greenback near its month high versus the euro hit the day before.

US crude dipped 0.4 percent to $85.22 a barrel, and Brent crude fell 0.25 percent to $87.96 per barrel, as investors booked profits from recent highs.

Gold prices were steady on Wednesday at $1,846 per ounce supported near the previous session’s 10-week high.

Read Also | Oil falls 3% as US Federal Reserve rate hike talk spooks risk markets

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Climate change threatens Winter Olympics and future snow sports: Research

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Climate change is threatening the Winter Olympics and the future of snow sports by making conditions much more dangerous for athletes and participants, experts warned in a report published a week ahead of the start of the 2022 Winter Games in Beijing.

The Beijing Games, kicking off on February 4, will be the first Winter Olympics to use virtually 100 percent artificial snow by deploying more than 100 snow generators and 300 snow-making guns working flat out to cover the ski slopes.

“This is not only energy and water intensive, frequently using chemicals to slow melt, but also delivers a surface that many competitors say is unpredictable and potentially dangerous,” said the report, written by researchers from the Sport Ecology Group at Loughborough University in England and the Protect Our Winters environment group.

Lying in naturally arid climates, the two co-host cities, Beijing and Zhangjiakou, could use an estimated 49 million gallons of chemically-treated water frozen through snow machines, according to the research.

Though China repeatedly claims to be using only natural rainfall and recycled water in snowmaking, there have been concerns that the high water utilisation rate would put additional pressure on the region’s already scarce resources.

Natural snow becoming less plentiful in some regions and water availability for snowmaking is falling as a result of climate change, putting the global snow sport industry at risk.

“Navigating erratic snow seasons and rapid melt of low level resorts are now the norm for many competitors,” the research said.

“The risk is clear: man-made warming is threatening the long-term future of winter sports. It is also reducing the number of climatically suitable host venues for the Winter Olympiad,” it said.

Of the 21 venues used for the Winter Games since Chamonix 1924, researchers estimate that by 2050 only 10 will have the “climate suitability” and natural snowfall levels to host an event.

Chamonix is now rated ‘high risk’ along with venues in Norway, France and Austria, while Vancouver, Sochi and Squaw Valley in the United States are deemed “unreliable”.

Read Also | Beijing Games torch relay confined to closed venues due to COVID

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow