Latest news with #ChristinaFincher
The Star
10-08-2025
- General
- The Star
Fire at chlorine factory in southern France forces locals to stay indoors
PARIS (Reuters) -A fire broke out at a chlorine factory in southern France on Sunday, raising the risk of toxic fumes and prompting authorities to order nearby residents to stay indoors. The plant, operated by HydraPro, is used to produce chlorine for swimming pools. The local authority urged anyone within around a kilometre of the factory to stay inside and close their doors and windows. "As the winds are blowing north, the smell of chlorine can be felt," the prefecture said, though it noted that the smell itself was not a public safety risk. The plant is classified a "seveso" site under a directive that requires European Union member states to identify factories that handle dangerous substances. Firefighters have been dispatched and are expected to be joined by a specialised team, the local authority said. The chemical factory is located in the French town of Lédenon, about 28 kilometres (17.3 miles) south-west of Avignon. (Reporting by Forrest CrellinEditing by Christina Fincher)
Zawya
07-03-2025
- Business
- Zawya
German bonds regain footing after biggest two-day drop since 1970s
LONDON - A sharp sell-off in euro zone government bonds abated on Friday, after the biggest two-day fall in Bunds since the 1970s on the back of a complete rewriting of Germany fiscal rules. Investors were waiting for key U.S. jobs figures and were digesting yet more weak factory data from Germany, where industrial orders fell more than expected in January. Germany's 10-year bond yield, the benchmark for the euro zone bloc, fell 5 basis points (bps) to 2.835%. The yield soared 30 bps on Wednesday, when Germany's plan to change its fiscal rules was announced, the biggest one-day rise since the late 1990s. It then rose another 10 bps on Thursday, making the two-day sell-off the biggest since 1974. Yields move inversely to prices. Italy's 10-year yield was down 1 bp at 3.932%, widening the closely watched gap between Italian and German yields to 109 bps. The debt of more indebted countries such as Italy has sold off alongside that of Germany, which is traditionally the yardstick for rest of the euro zone. Germany's two-year bond yield, which is sensitive to European Central Bank rate expectations, was 4 bps lower at 2.237%, but remained up 26 bps for the week. (Reporting by Harry Robertson Editing by Christina Fincher)
Zawya
03-03-2025
- Business
- Zawya
German manufacturing shows signs of recovery, but job cuts accelerate, PMI shows
Germany's manufacturing sector showed signs of recovery in February, with the downturn easing to its slowest pace in over two years, a business survey showed on Monday. The HCOB Germany Manufacturing PMI compiled by S&P Global rose to 46.5 last month from January's 45.0, marking the highest level since January 2023, although remaining below the 50.0 threshold indicating growth. The survey revealed modest declines in output, new orders, and export sales, with the smallest drop in new orders since April 2022. However, employment fell sharply, with the rate of job shedding accelerating to the fastest in three months. "Job cuts have accelerated sharply of late," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG. "However, with the stabilisation of production that is becoming apparent, it is possible that companies will gradually change tack." The survey also noted a decline in both input costs and output prices, attributed to spare capacity across supply chains. Despite a positive outlook for future output, business optimism weakened slightly from January's near three-year high, amid concerns over geopolitical tensions and tariffs. (Reporting by Reuters; editing by Christina Fincher)
Zawya
11-02-2025
- Business
- Zawya
Crypto exchange platform BestChange in the dark over Russia block
Cryptocurrency exchange platform BestChange has said it is unsure why its website was blocked by Russia's communications watchdog Roskomnadzor, but that it is in touch with the central bank to try to lift the ban. Circulating and advertising digital currencies is banned in Russia, although using cryptocurrency for international payments is now legal, as is cryptocurrency mining. " has been restricted in Russia by Roskomnadzor," the platform said late on Monday in response to a request for comment. "Unfortunately, we cannot account for the exact reason why this has happened. "We are communicating with the central bank to pinpoint the reason and interacting with the regulator to clarify the situation and lift the block." Roskomnadzor's website lists as blocked. The RIA news agency cited Roskomnadzor as saying that the ban was due to legal violations "in the financial sphere". Roskomnadzor did not immediately respond to a request for comment. BestChange said new regulations around crypto could be behind the ban, or an issue with an entity using its service. Last year, Russia legalised cryptocurrency mining and introduced taxes that could bring in up to 200 billion roubles ($2 billion) a year from miners. Moscow has since restricted crypto mining in some Siberian regions to prevent power shortages. As part of that legislation, Russia has allowed businesses to use cryptocurrencies in international trade as Moscow looks to circumvent Western sanctions causing payment delays, although a trial period is yet to get under way. ($1 = 96.2000 roubles) (Reporting by Alexander Marrow Editing by Christina Fincher)
