Reuters exclusively reported that Canada’s First Quantum Minerals was considering putting its key Panama copper miner on care and maintenance from Nov. 23, effectively shutting production at a mine that accounts for about 1% of global output. Citing sources familiar with the matter, Reuters reported that the move follows protests that blocked coal from reaching First Quantum’s plant. Supply concerns at First Quantum’s Panama contributed to copper prices jumping to two-month highs traders said while First Quantum shares extended fall to drop as much as 5.7% on the news.
News
Dutch Home Prices Jump Most in Two Years as Shortage Lingers
(Bloomberg) — Home prices in the Netherlands rose the most in two years in August as the country is struggling with a severe housing shortage.
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The prices jumped by about 11% in the period from a year earlier, according to data published by the Dutch statistics agency on Monday. The average transaction price for existing houses was €466,207 ($517,770), the agency said.
The Netherlands, which is one of Europe’s most densely populated countries, has been navigating a housing crisis in recent years as the growth in population has outpaced an increase in dwellings. House prices in the country have been on the rise since mid last year after being subdued for several months due to an increase in mortgage rates.
A new rental act designed to make homes more affordable amplified the distress in the market, leading to rent controls on 300,000 units in July and making it unprofitable for many landlords to lease their homes.
The Dutch government wants to build 100,000 homes ever year and will spend €5 billion over the next five years to stimulate construction. Housing Minister Mona Keijzer vowed to do this by removing obstacles to “construction and scrapping unnecessary rules where possible.”
The number of transactions for existing homes rose 12% to 17,915 units in August, the statistics agency said. The prices rose 1.1% from July.
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CNBC’s Robert Frank reports on news from luxury shoppers.
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Business & FinanceEnergyEnvironment
20 November 2023, 3:09 pm 1 minute
Market Impact
Supply concerns at First Quantum’s Panama contributed to copper prices jumping to two-month highs traders said while First Quantum shares extended fall to drop as much as 5.7% on the news.
Article Tags
Topics of Interest: Business & FinanceEnergyEnvironment
Type: Reuters Best
Sectors: Business & FinanceCommodities & Energy
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
A court case involving harassment claims against a Lexington councilwoman has been unsealed and is now available again through the Kentucky’s online court system, Courtnet or KyECourts.
The Lexington-Herald Leader published a story last week questioning why the case was sealed.
Lexington-Fayette Urban County Councilwoman Denise Gray was awarded a temporary emergency protection order against Councilwoman Brenda Monarrez on Aug. 8.
In her petition, Gray alleges Monarrez was sexually aggressive towards her on two different occasions over three years.
Fayette Circuit Judge Traci Brislin ordered during an Aug. 20 hearing Monarrez attend council meetings virtually and work from home until an Oct. 16 hearing, which will determine if the protection order will remain in place.
Both women can testify at that hearing.
Monarrez has denied the allegations, calling them baseless, vile and politically motivated.
An interpersonal protection order is a civil matter. No criminal charges have been filed.
After the Aug. 20 hearing, the case was removed from Courtnet. The Herald-Leader attempted to access the paper file at the Fayette Circuit Clerk’s office on Sept. 18 and was told the case was confidential or sealed.
On Saturday, the case reappeared on Courtnet.
On Aug. 21, there is a note in the case file that shows the case is now confidential. However, there was no motion from Gray or Monarrez’s attorneys asking the case be sealed. The note appears to come from “judicial staff,” according to the court record.
Brislin conducted the initial hearing on Aug. 20. But the case was originally assigned to District Judge Ross Ewing, according to the court record. Brislin’s staff confirmed Monday the case had been unsealed.
Brislin was not immediately available for comment.
Michael Abate, a lawyer for the Kentucky Press Association, questioned how the case was sealed. Under the law, a hearing must be held to determine if a case can be sealed and media has to be noticed, Abate has said. There was no hearing listed in the court record.
On Sept. 20, two days after the Herald-Leader ran a story questioning why the case was no longer public, there’s an entry in the court record showing the case be returned to the public docket.
“The Herald-Leader is concerned about what appears to a fast-and-loose policy related to secretly sealing and then unsealing this case without an initial hearing,” said Executive Editor Richard Green. “Kentucky law is very clear about how the process is supposed to work. We will continue to look into this matter and remind those in the courthouse of the law of the commonwealth.”
Deals
20 August 2024, 8:36 pm 1 minute
Reuters exclusively reported that India’s antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights. It is the biggest setback so far to the planned Disney-Reliance merger, which aims to create India’s biggest entertainment player with a combined 120 TV channels and two streaming services.
Market Impact
The merged company, which would be majority owned by Asia’s richest man Mukesh Ambani’s Reliance, would have lucrative rights worth billions of dollars for the broadcast of cricket on TV and streaming platforms, raising fears over pricing power and its grip over advertisers.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & FinanceMergers & Acquisition
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Reuters was first to report that a meeting of top OPEC+ ministers kept oil output policy unchanged including a plan to start unwinding output cuts from October. The oil producing group took the decision despite sharp oil price falls in recent weeks amid global demand concerns. Brent crude futures fell on the news settling down 1.6% below $80 a barrel.
The post OPEC+ sticks to oil policy, repeats could pause Oct hike appeared first on Reuters News Agency.
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