Sources - Shore News Network

Most of the Iranian drones over Syria were downed by Israel,US, intelligence sources say

ReutersApril 14, 20240

By Suleiman Al-Khalidi AMMAN (Reuters) – Most of the Iranian drones flying over Syria’s airspace during Tehran’s strikes overnight were downed by Israeli and U.S. jets before reaching their targets in Israel, two Western intelligence sources said on Sunday. They told Reuters the aerial interceptions shot down dozens of missiles and drones fired by Iran that flew above southern Syria in the Deraa province, the Syrian Golan Heights and several locations in eastern Syria along the border with Iraq. U.S. air defences operated from the U.S. base in al-Tanf, as well as along the Jordanian border and in eastern Syria,

Exclusive-Boeing, Airbus exploring framework to divvy up Spirit Aero’s operations, sources say

ReutersApril 4, 20240

By David Carnevali, Mike Stone, Allison Lampert and Tim Hepher (Reuters) – Boeing and Airbus are edging towards a potentially coordinated deal to split operations of troubled supplier Spirit AeroSystems, taking on plants needed to support their top jet programs, people familiar with the matter said. If successful, any agreement involving the two aerospace giants would end Boeing’s 20-year effort to farm out key elements of its production process as it grapples with a sprawling crisis that erupted after a January mid-air panel blowout on a 737 MAX plane. But in order for Boeing to regain control of its supply

Indonesia’s Prabowo weighs former minister, regulator chief for finance job, sources say

ReutersApril 1, 20240

By Ananda Teresia and Stefanno Sulaiman JAKARTA (Reuters) – Indonesian financial regulator Mahendra Siregar and former finance minister Chatib Basri are among the top choices Prabowo Subianto is considering for the role of finance minister, sources close to the president-elect told Reuters. Investors are closely watching Prabowo’s pick for the key role after ratings agencies warned of the cost of the programmes the president-elect had campaigned on, raising the risk of slippage in the country’s hard-won record for fiscal discipline. The former special forces commander and current defence minister will pick a professional with market credibility to head the finance

EnCap Investments seeks sale of Utah oil producer XCL Resources, sources say

ReutersMarch 28, 20240

By Shariq Khan and David French (Reuters) – EnCap Investments is seeking to sell XCL Resources, four people familiar with the matter said, two years after the private equity firm’s plan to combine the oil and gas producer with a local rival was thwarted by U.S. antitrust regulators. XCL, one of the largest energy producers in the Uinta shale formation of Utah, could be worth at least $2.8 billion including debt, and could achieve a higher valuation when accounting for its undeveloped assets, the sources said. Investment bankers at Jefferies Financial Group are running the sale process for XCL, which

Billionaires sought to help fund Trump bond in civil fraud case, sources say

ReutersMarch 26, 20240

By Alexandra Ulmer (Reuters) -Some major Republican donors were working together to help U.S. presidential candidate Donald Trump fund the original bond amount needed to cover his $454 million civil fraud judgment ahead of Monday’s deadline, three sources briefed on the matter told Reuters. Former Republican President Trump needs to pay a bond in a New York civil case in which he was found liable for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance terms. On Monday he won a bid to delay the enforcement of the judgment if he posts a smaller

Hezbollah official makes landmark visit to UAE, sources say

ReutersMarch 20, 20240

By Laila Bassam BEIRUT (Reuters) – A senior official from the Iran-backed Lebanese group Hezbollah has made a landmark trip to the United Arab Emirates to facilitate the release of more than a dozen Lebanese nationals detained there, four sources close to Hezbollah told Reuters. The visit at the invitation of the UAE could signal a significant shift away from the hostility that has long defined relations between Shi’ite Muslim Hezbollah and the Sunni Muslim UAE, a strategic ally of the United States, analysts said. There was no immediate response from the UAE foreign ministry to Reuters’ requests for comments.

US Congress deal bars US funds to UNRWA until March 2025, sources say

ReutersMarch 19, 20240

By Patricia Zengerle WASHINGTON (Reuters) – An agreement reached by U.S. congressional leaders and the White House on a massive bill funding military, State Department and a range of other government programs will continue a ban on U.S. funding for UNRWA, the main U.N. agency for Palestinians, until March 2025, two sources said on Tuesday. President Joe Biden’s administration said in January it was temporarily pausing new funding to United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) after Israel accused 12 of the agency’s 13,000 employees in Gaza of participating in the deadly Oct.

Ship abandoned in Red Sea faces unknown fate, sources say

ReutersFebruary 21, 20240

By Jonathan Saul LONDON (Reuters) -A cargo ship abandoned four days ago in the Gulf of Aden after it was hit by missiles fired by Yemen’s Houthis is still floating despite taking in water, and could be towed to nearby Djibouti, industry sources said on Wednesday. Shipping risks have escalated due to repeated drone and missile strikes in the Red Sea and Bab al-Mandab Strait by the Iran-aligned Houthis since November. U.S. and British forces have responded with several strikes on Houthi facilities but have so far failed to halt the attacks. The crew of the Belize-flagged Rubymar abandoned the

Israeli strike kills woman and child in south Lebanon, sources say

ReutersFebruary 21, 20240

BEIRUT/JERUSALEM (Reuters) -An Israeli air strike killed a woman and a child in south Lebanon on Wednesday, sources in Lebanon said, days after Hezbollah said it would inflict a price on Israel for killing civilians in the conflict across the Israeli-Lebanese border. The deaths add to the toll from more than four months of violence that has played out in parallel to the Gaza war, fuelling concerns of an even more ruinous conflict between heavily armed adversaries that last fought a major war in 2006. The woman and girl were killed near Majdal Zoun, a village some 6 km (4

Exclusive-Putin’s suggestion of Ukraine ceasefire rejected by United States, sources say

ReutersFebruary 13, 20240

By Guy Faulconbridge and Darya Korsunskaya MOSCOW/LONDON (Reuters) – Russian President Vladimir Putin’s suggestion of a ceasefire in Ukraine to freeze the war was rejected by the United States after contacts between intermediaries, three Russian sources with knowledge of the discussions told Reuters. The failure of Putin’s approach ushers in a third year of the deadliest conflict in Europe since World War Two and illustrates just how far apart the world’s two largest nuclear powers remain. A U.S. source denied there had been any official contact and said Washington would not engage in talks that did not involve Ukraine. Putin

Republican Party chair eyes departure amid Trump pressure – sources

ReutersFebruary 7, 20240

By Nathan Layne and Alexandra Ulmer (Reuters) – Ronna McDaniel, the chair of the Republican National Committee, is considering stepping down from her position after this month’s South Carolina primary amid pressure from Donald Trump, according to an RNC member familiar with the matter. The potential shakeup comes as former U.S. President Trump, the frontrunner for the party’s presidential nomination, indicates he wants to make changes to the organization as he prepares for a likely rematch with President Joe Biden, a Democrat, in November. Whoever replaces McDaniel will face the challenge of unifying a fractured party with just nine months

China’s major state banks defend yuan as stock markets slide – sources

ReutersJanuary 31, 20240

(Reuters) – China’s major state-owned banks were heavy sellers of dollars on Wednesday, three people with direct knowledge of their activity said, steadying the yuan as it came under pressure in currency trade as the economy remains shaky. State banks often act on behalf of China’s central bank in the foreign exchange market, but they could also trade on their own behalf or execute clients’ orders. One of the people said the selling was “very forceful” to defend the yuan at around 7.1820 per dollar in the onshore spot market. All the sources spoke on condition of anonymity as they

Exclusive-BDT & MSD Partners explores $5 billion sale of Alliance Laundry -sources

ReutersJanuary 30, 20240

By Anirban Sen (Reuters) -Merchant bank BDT & MSD Partners, the owner of Alliance Laundry Systems, is exploring a sale of the U.S. laundry equipment manufacturer that could value it at nearly $5 billion, including debt, according to people familiar with the matter. The 116-year-old commercial laundry provider is working with investment bank Morgan Stanley to prepare for a sale process that will launch in the coming weeks, the sources said, requesting anonymity as the discussions are confidential. BDT & MSD, which was created last year through the merger of an investment firm backed by computer maker Michael Dell with

Chevron reroutes Kazakh oil to Asia around Africa – sources, LSEG data

ReutersJanuary 30, 20240

MOSCOW (Reuters) – Chevron is sending cargoes of Kazakhstan’s CPC Blend oil to Asia around Africa’s Cape of Good Hope rather than via the Red Sea to avoid the risk of attacks by Yemen’s Houthis, according to three industry sources and LSEG ship-tracking data. The Iranian-aligned Houthis have stepped up attacks on shipping despite U.S.-led air strikes on the group’s positions in Yemen, leading more vessels to avoid using the Red Sea and the Suez Canal – the shortest sea route between Europe and Asia. CPC Blend crude is loaded at the Russian Black Sea terminal of Yuzhnaya Ozereevka, near

Italy Finance Minister sought clarification from UniCredit CEO over Pop Sondrio, sources say

ReutersJanuary 30, 20240

By Valentina Za and Giuseppe Fonte MILAN (Reuters) – Italy’s Economy Minister Giancarlo Giorgetti sought clarification from UniCredit CEO Andrea Orcel over the lender’s potential interest in Popolare di Sondrio during a meeting held last week, two people close to the matter said. Both UniCredit and Italy’s Treasury declined to comment. Orcel earlier this month dismissed as “noise” a newspaper report that UniCredit was the lender behind stake-building in Popolare di Sondrio, saying his bank had not been buying shares in its smaller rival. However, the report and UniCredit’s stance on Popolare di Sondrio in the context of Italy’s banking

Ferrari negotiated with Italy terms of enhanced voting rights scheme, sources say

ReutersJanuary 26, 20240

By Giuseppe Fonte and Giulio Piovaccari ROME/MILAN (Reuters) – Ferrari held talks with the Italian government to amend measures in Rome’s capital markets bill that would help the luxury sports carmaker bring its registered office back to Italy from the Netherlands, two sources told Reuters on Friday. To be approved by parliament in February, the legislation allows listed companies to issue shares that boost the influence of longstanding investors. The sources, who are familiar with the matter but asked not to be named, said Ferrari pushed for a special regime allowing its top shareholder, the Agnelli family holding Exor, to

Exclusive-Canada to re-start Turkey arms exports after Sweden NATO backing -sources

ReutersJanuary 26, 20240

By Jonathan Spicer ISTANBUL (Reuters) – Canada and Turkey have reached a deal to restart Canadian exports of drone parts in exchange for more transparency on where they are used, and it would take effect after Ankara completes its ratification of Sweden’s NATO bid, two sources told Reuters. After 20 months of delay, Turkey moved swiftly this week to endorse Sweden’s membership in the western military alliance, including a parliamentary vote and presidential sign-off, leaving Hungary as the sole ally yet to ratify it. Turkey is expected to send the final documents to Washington as soon as Friday, which would

Attack on Iraqi Kurdish gas field leads to major power cuts

ReutersJanuary 26, 20240

BAGHDAD (Reuters) -A drone attack on one of Iraq’s largest gas fields has led to a temporary suspension of production, resulting in major power cuts across the country’s northern Kurdistan region, officials said on Friday. No group has claimed responsibility for the explosive drone that struck Khor Mor gas field in the Sulaimaniya region of northern Iraq overnight. It damaged a liquid gas storage tank but caused no injuries, according to the field’s United Arab Emirates-based operator, Dana Gas. Dana Gas said production was temporarily suspended to put out a fire, which was extinguished, and a resumption of operations was

Former Credit Suisse APAC asset management head exiting UBS – sources

ReutersJanuary 25, 20240

By Selena Li and Xie Yu HONG KONG (Reuters) – Former asset management head of Credit Suisse in Asia Pacific, Min Huang, is leaving UBS as the bank embarks on reviewing its China business post global leadership changes, three sources with knowledge of the matter said. Huang was appointed China client coverage head for UBS Asset Management in June last year when the Swiss banking giant unveiled regional leaders. UBS declined to comment and Huang did not immediately respond to Reuters request for comment. The departure of Huang comes as UBS reviews its China setup amid a global leadership change

Exclusive-China presses Iran to rein in Houthi attacks in Red Sea, sources say

ReutersJanuary 25, 20240

By Parisa Hafezi and Andrew Hayley DUBAI (Reuters) – Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said. The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said, declining to provide details about when they took place or who attended. “Basically, China says: ‘If our interests are harmed in any way, it will impact

OpenAI’s Altman to meet chipmakers Samsung, SK Hynix execs on Friday -sources

ReutersJanuary 25, 20240

SEOUL (Reuters) – OpenAI CEO Sam Altman is visiting South Korea on Friday and meeting leaders of chipmakers Samsung Electronics and SK Hynix, two sources with knowledge of the matter said. Altman is expected to discuss potential partnerships for making chips, the sources said, declining to be identified. OpenAI, Samsung and SK did not have an immediate comment. Altman is trying to raise billions of dollars for a chip venture for setting up a network of factories that will manufacture semiconductors, with chipmakers as potential partners, Bloomberg News reported last week. Both SK Hynix and Samsung Electronics make high-bandwidth memory

ECB open to March pivot, possible June cut if data allow -sources

ReutersJanuary 25, 20240

FRANKFURT (Reuters) – European Central Bank policymakers are open to a change in their rhetoric at their next meeting, paving the way for an interest rate cut possibly in June, if upcoming data confirms inflation has been vanquished, four sources told Reuters. The ECB kept interest rates unchanged at a record-high 4% on Thursday and gave no hint that it is even contemplating a start to easing. But policymakers know that the time to start discussing a first rate cut is approaching, provided that inflation and wage data confirm that price growth is already heading to the ECB’s 2% goal

Indian banks urge return to call option valuation for perpetual bonds – sources

ReutersJanuary 25, 20240

By Dharamraj Dhutia, Nikunj Ohri and Jayshree P Upadhyay MUMBAI (Reuters) – Indian lenders have suggested that investments in perpetual bonds issued by banks should be valued according to the call option instead of treating them as 100-year securities, according to four sources directly aware of the matter. The rules hurt demand for such paper and make it more expensive for banks to raise capital. “Funding need for banks will rise and changing the valuation would be beneficial as it will increase investor base,” said Ajay Manglunia, managing director and head of the investment grade group at JM Financial. The

Exclusive-Malaysia set to appoint PNB chief to lead country’s biggest pension fund – sources

ReutersJanuary 25, 20240

By Yantoultra Ngui and Rozanna Latiff SINGAPORE/KUALA LUMPUR (Reuters) -Malaysia is expected to name Ahmad Zulqarnain Onn, group CEO of the country’s largest asset manager Permodalan Nasional Berhad (PNB), as the head of its biggest state pension fund, three people familiar with the matter said. The appointment will fill the role left vacant after Prime Minister Anwar Ibrahim in December named Amir Hamzah Azizan, the previous CEO of the Employees Provident Fund (EPF), as second finance minister in a cabinet reshuffle. Ahmad Zulqarnain’s appointment is expected to be announced as early as at the end of January, two of the

Exclusive-US Fund KPS explored takeover offer for UK’s Elementis –sources

ReutersJanuary 24, 20240

By Amy-Jo Crowley and Emma-Victoria Farr LONDON (Reuters) -KPS Capital Partners recently explored a bid for UK specialty chemicals maker Elementis but has since paused its work, two people familiar with the matter told Reuters. The New York-based private equity firm in December submitted an offer valuing the FTSE 250 company at about 160p per share, but the Elementis board wanted around 180p, one of the people said. Shares in Elementis, which makes a range of chemical and personal care products, closed at 125p on Wednesday, giving the company a market value of around 735 million pounds. Spokespeople for Elementis