July 19 (Reuters) – British exhibitions group Hyve (HYVE.L) said on Tuesday it is selling its Ukrainian unit to a group led by Anatoly Sushon, the Ukrainian business’ managing director, as events in the country continue to be on hold following Russia’s invasion.
Hyve said it would receive up to 3 million pounds ($3.59 million) from the sale, which will be paid annually until September 2027 based on the Ukrainian operations’ profitability.
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Reporting by Muhammed Husain in Bengaluru; editing by Uttaresh.V
Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson
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LONDON, June 23 (Reuters) – The London Metal Exchange said on Thursday it had appointed Oliver Wyman to carry out an independent review of events that led to the suspension of nickel trading in March.
The exchange suspended nickel trading on March 8 after prices spiked by more than 50% to hit $100,000 a tonne. Activity resumed on March 16 when the exchange launched daily price limits and the provision of OTC nickel trading data.
“The independent review will review the factors that contributed to market conditions… in the period leading up to, and including, 8 March 2022 and make recommendations to reduce the likelihood of similar events occurring,” the exchange said in a release.
The assessment will not cover the decision-making processes and governance arrangements at the LME and at its clearing house, LME Clear, it said.
Decision-making and governance will be a part of the regulatory reviews to be undertaken by the UK Financial Conduct Authority and the Bank of England.
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Reporting by Pratima Desai; editing by John Stonestreet and Barbara Lewis
May 22, 2022; Tulsa, OK, USA; Rory McIlroy plays his shot from the seventh tee during the final round of the PGA Championship golf tournament at Southern Hills Country Club. Mandatory Credit: Orlando Ramirez-USA TODAY Sports/File Photo
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June 1 (Reuters) – Rory McIlroy on Wednesday dismissed the field for the inaugural LIV Golf Invitational Series as “nothing to jump up and down about” and said players joining the Saudi-funded breakaway circuit need not face severe punishment.
There has been speculation that golfers who defect to the LIV Golf Series could face lifetime bans from the PGA Tour and DP World Tour but McIlroy feels such action would be too harsh.
“I certainly don’t think they should drop the hammer,” world number eight McIlroy told reporters ahead of the PGA Tour’s Memorial Tournament in Dublin, Ohio.
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“Look, they are well within their rights to enforce the rules and regulations that have been set. But … it’s going to end up being an argument about what those rules and regulations are.”
The June 9-11 LIV Golf event outside London is headlined by Dustin Johnson, who at world number 13 is the highest-ranked player in a field that currently includes 26 of the top 150 golfers in the world. read more
Among the other notable names competing are 2017 Masters champion Sergio Garcia, 2010 British Open winner Louis Oosthuizen and former U.S. Open champions Graeme McDowell and Martin Kaymer.
“I certainly don’t think the field is anything to jump up and down about,” said McIlroy.
McIlroy, who already expressed his allegiance to the PGA Tour, said he has some friends playing the LIV Golf event and when asked if they had any desire to keep competing on the PGA Tour the 33-year-old Northern Irishman paused before answering.
“Not really, I guess. You know, you have some guys in a position where they are literally not guaranteed a job next year,” said McIlroy.
“It’s hard to stay in the top-125 out here, especially when you’re a guy in your 40s and maybe you don’t hit the ball as far as you’re used to.”
All seven regular season LIV Golf events this year will have a $25 million purse where all players are paid out, including $4 million for the winner. The season-ending event will feature a $30 million purse.
According to McIlroy, that type of money proved too enticing to turn down for those in the latter stages of their careers.
“It’s a young man’s game nowadays,” said McIlroy.
“So someone that isn’t guaranteed their Tour card next year, another entity comes along and says, we’ll guarantee you this amount for three years, plus you’re playing for a ton more prize money, and you’re playing less events, you can spend more time with your family.
“I mean, whenever you sit down and look at some of those things, you know, it’s very appealing to some of those guys that are in that position.”
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Reporting by Frank Pingue in Toronto
Editing by Toby Davis
Cyclists ride at sunrise in London, Britain, January 4, 2020. REUTERS/Toby Melville/File Photo
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April 8 (Reuters) – British Cycling suspended its Transgender and Non-binary Participation Policy with immediate effect on Friday, denying transgender women the chance to compete in domestic women’s races until the policy was reviewed.
British Cycling said it had taken the decision to suspend the policy due to differences between its own policy and that of the world governing body (UCI).
The move comes after transgender cyclist Emily Bridges was told by British Cycling that she was ineligible to compete in the women’s race at the National Omnium Championships.
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Bridges had been due to compete in her first women’s event in Derby but British Cycling said it had been informed by the UCI that she would not be eligible to participate under their current guidelines. read more
Britain’s Guardian newspaper reported that Bridges had been ruled not compliant by the UCI as she was still registered as a male cyclist and could not compete as a woman until her male UCI ID expires. Reuters has contacted the UCI for confirmation.
“It is currently possible for trans-female athletes to gain eligibility to race domestically while their cases remain pending with the UCI (or indeed in situations where they are deemed ineligible),” British Cycling said in a statement.
“(this allows riders to) accrue domestic ranking points which impact selection decisions for National Championship races, which is not only unprecedented … but is also unfair on all women riders and poses a challenge to the integrity of racing.
“As a result of this, on Wednesday the British Cycling Board of Directors voted in favour of an immediate suspension of the current policy, pending a full review, which will be initiated in the coming weeks.”
British Cycling added that it would include women and the transgender and non-binary communities in the review process.
British Prime Minister Boris Johnson said earlier this week that transgender women should not be competing in female sporting events. read more
“I don’t think biological males should be competing in female sporting events. Maybe that’s a controversial thing to say, but it just seems to me to be sensible,” Johnson said.
In November, the International Olympic Committee said no athlete should be excluded from competition on the grounds of a perceived unfair advantage due to their gender, but stopped short of issuing regulations that define eligibility criteria. read more
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Reporting by Aadi Nair and Rohith Nair in Bengaluru
Editing by Toby Davis
British Prime Minister Boris Johnson walks in Downing Street in London, Britain, April 5, 2022. REUTERS/Tom Nicholson
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LONDON, April 6 (Reuters) – Transgender women should not be competing in female sporting events, British Prime Minister Boris Johnson told broadcasters on Wednesday.
Johnson was speaking as the country looked set to abandon plans to hold a flagship conference designed to promote LGBT+ rights around the world. read more
Charities and organisations are boycotting the event following a dispute over conversion therapy for transgender people.
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“I don’t think biological males should be competing in female sporting events. Maybe that’s a controversial thing to say, but it just seems to me to be sensible,” Johnson said.
“I also happen to think that women should have spaces — whether it’s in hospitals, prison or changing rooms — which are dedicated to women. That’s as far as my thinking has developed on this issue.
“If that puts me in conflict with some others, then we have got to work it all out. It doesn’t mean I’m not immensely sympathetic to people who want to change gender, to transition and it’s vital we give people the maximum love and support in making those decisions.”
Transgender rights has become a hot talking point as sports seek to balance inclusivity with ensuring there is no unfair advantage.
Transgender cyclist Emily Bridges was ruled out of Britain’s National Omnium Championships last weekend after the sport’s governing body, the UCI, ruled she was ineligible. read more
British Cycling had cleared Bridges to take part under their “Transgender and Non-Binary Participation policy”.
New Zealand weightlifter Laurel Hubbard became the first transgender athlete to compete at the Olympics Games in Tokyo last year.
University of Pennsylvania swimmer Lia Thomas last month became the first transgender National Collegiate Athletic Association (NCAA) champion in Division I history after winning the women’s 500-yard freestyle. read more
Thomas competed on Pennsylvania’s men’s team for three years before transitioning and setting multiple programme records with the women’s team, but her eligibility has come under considerable scrutiny.
The latest International Olympic Committee (IOC) guidance, updated in November last year, is that no athlete should be excluded from competition on the grounds of a perceived unfair advantage due to gender. read more
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Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai, India May 25, 2016. REUTERS/Danish Siddiqui
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BENGALURU, March 23 (Reuters) – Indian shares were little changed on Wednesday as cautious investors kept an eye on crude prices and geopolitical events in the absence of any major domestic triggers.
By 0504 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was up 0.11% at 17,334.45, while the benchmark S&P BSE Sensex (.BSESN) had gained 0.10% to 58,046.43.
After falling nearly 1% on Monday and extending those losses into the first half of Tuesday — due to higher oil prices — both the indexes staged a mid-day reversal to end more than 1% higher as investors bought into the dip.
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While the Nifty and Sensex built on the upbeat momentum in early trading on Wednesday, markets have now given up most gains.
“Markets are not going to be that bullish today and there could be some kind of consolidation,” said Devarsh Vakil, deputy head of retail research at HDFC Securities.
“As such, we have risen a lot from (recent) lows. So, it is better to digest these gains,” he added.
Earlier this month, the indexes hit their lowest levels since late-July, but they have since risen about 11% each.
In Mumbai, gains in pharmaceutical and metal stocks offset losses in automobile companies.
The Nifty Pharma Index (.NIPHARM) was up 1.27%, with pharma major Dr Reddy’s Laboratories (REDY.NS) rising 3% and topping the Nifty 50 percentage gainers.
The Nifty Metal Index (.NIFTYMET) rose 0.49%, with aluminium and copper producer Hindalco Industries (HALC.NS) adding 2.3%. Global commodity prices remained high on potential supply hits due to the Ukraine conflict.
The Nifty Auto Index (.NIFTYAUTO) dropped 0.56% and was on track for its second session of losses in three.
Meanwhile, broader Asian markets hit their highest levels since March 4 as investors moved cash back into equities from bonds in preparation for the U.S. Federal Reserve’s aggressive approach to combat inflation.
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Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V
March 20 (Reuters) – Away from the fighting in Ukraine, Russian and Ukrainian ballet dancers rubbed shoulders in London on Saturday in a charity event that united some of the world’s leading dance performers for humanitarian relief in the war-torn eastern European nation.
About 20 dancers, with glistening bodies and graceful moves, received a thunderous applause from the packed auditorium at the London Coliseum theatre for the ‘Dance for Ukraine’ gala.
“We have so many loved ones back home. We couldn’t just sit idly at home and just watch news, we wanted to do something,” Ivan Putrov, who is from Ukraine and organised the event with Romanian Alina Cojocaru, told Reuters.
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Russia invaded Ukraine on Feb. 24, an attack Moscow calls a “special operation” to demilitarise its neighbour.
Ballet dancers acknowledge a standing ovation during ‘Dance for Ukraine’, a charity gala to raise funds for people in need in Ukraine, at The London Coliseum, in London, Britain, March 19, 2022. REUTERS/Dylan Martinez
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The U.N. human rights office has said at least 847 civilians had been killed and 1,399 wounded in Ukraine as of Friday. More than 3.3 million refugees have fled Ukraine through its western border, with around 2 million more displaced inside the country.
Some audience members were draped in the Ukrainian flag for the event, with dancers from many countries including Brazil, Italy and Britain providing glamour to the stage that was lit in shades of yellow and blue.
Katja Khaniukova from Ukraine and Natalia Osipova from Russia were among those who took part. There were also dancers from the United States, France, Japan and Argentina at the event, which the organisers said raised at least 140,000 pounds ($184,520.00) for the Disasters Emergency Committee’s Ukraine appeal.
“So many of the artists contacted us wanting to join so it is inspiring how overwhelming the support is from the people, but we need more support in Ukraine, more support from different governments around the world,” said Putrov.
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Writing by Muralikumar Anantharaman; Editing by Shri Navaratnam
OPEC Secretary General Mohammad Barkindo speaks during the CERAWeek conference in Houston, Texas, U.S., March 7, 2022. REUTERS/Daniel Kramer
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HOUSTON, March 7 (Reuters) – OPEC has no control over the events that have led to the run up in global oil prices and there is not enough capacity worldwide to compensate for the loss of Russian supply, OPEC Secretary General Mohammad Barkindo said on Monday.
Benchmark Brent crude prices surged on Monday, touching a 14-year high of over $139 a barrel as the United States and European allies considered banning Russian oil imports following Russia’s invasion of Ukraine.
Russia is the world’s top exporter of crude and fuel, shipping around 7 million bpd or 7% of global supplies.
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“There is no capacity in the world that could replace 7 millions barrels per day,” Barkindo told reporters at an industry conference in Houston.
“We have no control over current events, geopolitics, and this is dictating the pace of the market,” he said.
U.S., European and other governments exempted energy trade from sanctions to prevent already tight markets rallying further, but that has failed.
Traders have avoided Russian oil to avoid running afoul of future sanctions or unwittingly violating sanctions already imposed on Russian banks, companies and individuals.
With an outright ban, some analysts posit prices could rocket even higher. JPMorgan predicted Brent could hit $185 by year-end. A supply shortage would require prices to rise enough to cut demand. read more
“I have heard from several speakers here at CERAweek that current tightness in the market condition might be creating some demand destruction,” said Barkindo.
“Even as that might be the case, the other side of the equation is probably more critical at the moment, which is supply is increasingly lagging behind.”
When asked why the Organization of the Petroleum Exporting Countries (OPEC) and its allies did not just end all restrictions on output at their meeting last week, Barkindo told Reuters the situation in oil markets had developed since the group met on March 2.
“Let’s see what happens at the next meeting,” he said.
OPEC and allies led by Russia, a group known as OPEC+, said after that meeting in a statement that markets were well balanced, and OPEC+ sources reaffirmed that earlier on Monday. read more
OPEC+ remained committed to market stability, Barkindo said. The group continued to unwind the deep cuts imposed at the height of the pandemic, he said. Production should be fully restored from the cuts in September, he said.
OPEC+ stuck to a plan for a modest output rise in April at the March 2 meet and ignored the Ukraine crisis in their talks. read more
The situation in the markets was likely to be a game-changer in the energy transition, Barkindo told reporters.
Access to capital for the oil industry has become more challenging, he said, but the crisis was showing the world could not afford to stop investing in oil and gas.
Most OPEC+ members have little spare oil production capacity at the moment, with the bulk of the extra capacity available in the Gulf states of Saudi Arabia and the United Arab Emirates, according to the International Energy Agency.
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Reporting By David Gaffen and Marianna Parraga; Writing by Simon Webb; Editing by David Gregorio
Feb 28 (Reuters) – Badminton’s world governing body (BWF) has cancelled all sanctioned tournaments in Russia and Belarus, it said on Monday, following Russia’s invasion of Ukraine.
Russian and Belarusian national flags must not be displayed and their national anthems not played at any BWF events. No other badminton tournaments will be allocated to Russia or Belarus until further notice.
“BWF will continue to monitor the situation closely and will proactively consult our international sport movement partners to discuss other options to potentially strengthen measures against the governments of Russia and Belarus,” it said in a statement.
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The governing body said it fully supported the International Olympic Committee urging sports federations to move or cancel sports events planned in Russia or Belarus. read more
“BWF stands in full solidarity with the entire international sports movement to call on all parties to stop acts of violence and to restore peace,” it added.
Ukraine’s health ministry said on Sunday that 352 civilians, including 14 children, had been killed since Russia’s invasion of the country last week. Belarus has been a key staging area for the invasion.
Russia calls its actions in Ukraine a “special operation”.
Soccer’s governing body FIFA said on Sunday that no international soccer matches will be played in Russia and the Russian flag and anthem will be banned from the team’s matches abroad. read more
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Reporting by Manasi Pathak in Bengaluru, editing by Ed Osmond
PARIS, Feb 16 (Reuters) – A draft bill that would ban the wearing of the hijab in sporting competitions will pass on to France’s National Assembly after the Senate on Wednesday declined to vote on the legislation.
The bill includes a clause, previously added as an amendment by the conservative-dominated upper house, which stipulates that the wearing “of conspicuous religious symbols is prohibited” in events and competitions organised by sports federations.
The move is, however, opposed by the government and its allies in the lower house. The National Assembly has the final vote.
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Reporting by Elizabeth Pineau; writing by Richard Lough, editing by Tassilo Hummel
