/news

US May Revoke Houthi Terrorist Label If Red Sea Ship Attacks Stop - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-04-03/us-may-revoke-houthi-terrorist-label-if-they-stop-red-sea-ship-attacks

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Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-03-28/russian-warships-enter-crowded-red-sea-amid-houthi-attacks

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Russian warships from the Pacific Fleet have crossed the Bab-el-Mandeb Strait and entered the Red Sea, the state-run Tass news agency said, venturing into a maritime region plagued by Houthi attacks and crowded with naval vessels.

The detachment included the missile cruiser Varyag and frigate Marshal Shaposhnikov, Tass reported Thursday, citing the Russian Pacific Fleet’s press service, which said the ships were carrying out “assigned tasks within the framework of the long-range sea campaign.” The ultimate destination of the ships was unclear from the report, as was the reason Russia sent vessels to the area.
[…]
Earlier this month, Iran, Russia and China held joint naval exercises in the Indian Ocean, according to Russia’s Defense Ministry. Both the Varyag and Marshal Shaposhnikov took part in the drills, which Russia said were meant to practice “safety in maritime economic activities,” including liberating ships hijacked by pirates.

Russia has also sought a naval base on the Red Sea in Sudan, though a civil conflict in that country may put back those plans.

Ukraine’s Drones Threaten Russian Oil Industry With Refinery Strikes - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-03-20/ukraine-s-drones-threaten-russian-oil-industry-with-refinery-strikes

• Attacks on refineries have both symbolic and strategic goals
• Kyiv plans to send ever-increasing swarm of drones into Russia

Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities.

At least nine major refineries have been successfully attacked this year, currently taking offline 11% of the country’s total capacity by some estimates. As the conflict at the front lines has shifted in Moscow’s favor, the drone campaign is becoming a key plank of Ukraine’s defense — both in its symbolism and its strategic aims.

It gives Kyiv the ability to reach deep into Russian territory and strike an industry that’s crucial to the Kremlin’s war effort, providing both supplies of fuel to its armed forces and a flow of petrodollars into its coffers.

“Russia is a gas station with an army, and we intend on destroying that gas station,” Francisco Serra-Martins, co-founder and chief executive officer of drone manufacturer Terminal Autonomy, said in an interview. “We are going to focus on where it hits the hardest, and that’s financial resources.”

Even as the drone campaign becomes a success story for Ukraine’s military — badly needed after a series of Russian gains on the battlefield — it is a potential wild card for world markets and Kyiv’s Western allies. International oil prices have risen steadily in recent days amid growing fears that the attacks, which have largely inflicted attritional damage so far, could one day take out a major export facility.

It was only six weeks ago that the government in Kyiv established the Unmanned Systems Forces, a specialized unit focused on drones. By that point, Ukraine’s armed forces had already used the technology to great effect, destroying a number vessels in Russia’s Black Sea fleet and damaging an oil facility on the Baltic Sea.

Israel Economy Slumps From Hamas War With Far Worse Drop Than Forecast - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-02-19/israel-economy-slumps-from-war-with-far-worse-drop-than-forecast

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Israel’s economy suffered one of its worst-ever slumps, after the Hamas war paralyzed businesses, forced people to evacuate their homes and caused the military to call up hundreds of thousands of reservists.

Gross domestic product shrank an annualized 19.4% in the final three months of last year, in seasonally-adjusted terms, according to preliminary figures released on Monday. That was worse than every estimate in a Bloomberg survey of analysts, whose median forecast was for a decline of 10.5%.

The shekel weakened slightly on the news and was trading 0.4% down at 3.62 per dollar at 3:53 p.m. in Tel Aviv, heading for its first drop in four days. Stocks initially pared advances.

“The release highlights the degree to which the Israeli economy has been affected by the conflict, particularly on the private activity side,” Goldman Sachs Group Inc. economists Tadas Gedminas and Kevin Daly said in a report.

Though the war broke the economy’s momentum toward the end of 2023, GDP still expanded 2% in the full year, matching the projection by the central bank’s research department. The Bank of Israel’s growth estimate for 2024 is the same at 2%, while the Finance Ministry sees it at 1.6%.

The assessment is the first official tally of the war’s toll on GDP and captures the extent of the disruption that tore through the $520 billion economy in the aftermath of Hamas’s attacks on Oct. 7. Alongside the call-up of reservists that depleted roughly 8% of the workforce, it led to restrictions comparable to shutdowns imposed during the Covid-19 pandemic, causing a sudden crash in manufacturing, jolting consumption and briefly emptying schools, offices and construction sites.

NATO Races to Send Ukraine 1 Million Drones - Bloomberg
▻https://www.bloomberg.com/news/newsletters/2024-02-16/nato-races-to-send-ukraine-1-million-drones

After the EU delayed its goal of sending Ukraine 1 million shells, NATO allies are setting their sights on drones to help Kyiv fend off Russia. Latvia, which is leading a coalition of nine allies, said nations would aim to provide 1 million drones by Feb. 24 next year.

La guerre des drones fait rage. Un de ces jours, la Chine va dire zut, et va cesser ses livraisons à tous les belligérants.

US Sanctions Halt Delivery of New Vessels to Russian LNG Plant - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-02-06/us-sanctions-halt-delivery-of-new-vessels-to-russian-lng-plant

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• MOL says efforts to charter or sell ice-breakers face curbs
• Operator Novatek PJSC already forced to delay maiden voyage

The delivery of specialized ships to a new Russian liquefied natural gas facility is being upended by US sanctions, according to Mitsui OSK Lines Ltd., threatening exports.

The Japanese shipping line can no longer charter the three ice-breaker LNG ships to the Arctic LNG 2 project due to US restrictions, and efforts to sell them could be challenging, President Takeshi Hashimoto said in an interview.

The start of the plant, a key venture for Russia, has been hit by US measures as Washington penalizes Moscow for the war in Ukraine. Operator Novatek PJSC had planned to use the vessels to pick up fuel from the site, and without them, it will be challenging to operate at the intended capacity. Novatek has already delayed the facility’s maiden voyage, and is struggling to find buyers.

“Our contractual obligation is that if we cannot provide the service to Arctic 2, we have to sell our vessel to Arctic 2,” Hashimoto said in an interview in Goa, India, on Tuesday. However, “there is a sanction that says we should not do that deal with Arctic. So it’s a bit complicated.”

MOL, as the firm is known, is working with the US and Japanese governments to find a solution, Hashimoto said. The first of the three ice-breaker LNG vessels will finish construction later this year.

Meanwhile, overseas partners in Arctic LNG 2, including Japan’s Mitsui & Co. and France’s TotalEnergies SE, have declared force majeure on their participation

Houthi Attacks in Red Sea: Chinese Ships Get Insurance Discounts - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-02-06/chinese-ships-get-cheaper-insurance-to-navigate-houthi-menaced-red-sea

• Country’s vessels paying 0.35% of hull value for transits
• Houthis say they are attacking ships with Israel, US, UK links

Chinese-owned merchant ships are getting hefty discounts on their insurance when sailing through the Red Sea, another sign of how Houthi attacks in the area are punishing the commercial interests of vessels with ties to the west.

The militants began going after Israeli-linked vessels back in mid-November, before widening their targets to include US and UK ships last month when the two nations bombed Yemen in effort to quell the attacks. The incidents have led to a multi-tiered insurance market in which underwriters differentiate between the carriers they cover.

While the overall picture is mixed, some Chinese-linked vessels are having to pay as little as 0.35% of their hull and machinery value to obtain insurance for transit, according to people involved in the market. Most ships are paying somewhere between 0.5% and 0.75% — although that can vary significantly, they said.

The discounts would translate into savings of $150,000 and $400,000 for a transit of a vessel with a hull-and-machinery value of $100 million.

It means the Chinese carriers are gaining another edge in addition to being able to use a short cut between Asia and Europe in relative safety. Hundreds of ships are simply avoiding the area, sailing thousands of miles around Africa instead. Since the attacks mushroomed, there have been no reports of significant damage to Chinese-owned vessels.

The Houthis say they are acting in solidarity with the Gazans amid Israel’s war with Hamas.

Shot Up
Rates for war insurance, a requirement to go through riskier waters, shot up since the Houthis first began their attacks.

After jumping about tenfold, they stabilized in recent weeks as the nature of the risks to shipping in the region becomes clearer, and western military forces work to degrade the Houthis’ capability.

“The market is reflecting the lower risk profile faced by Chinese- and Hong Kong-connected vessels, as shown in the increased Asian-flagged and connected tonnage transiting the region,” said Munro Anderson, head of operations at marine war risk and insurance specialist Vessel Protect. “That said, despite a declaration of safe passage by the Houthis, there are no guarantees that incidents of miscalculation can be avoided.”

Though Chinese ships are seeing discounts compared with most of the market, some vessels with ties to the the US, UK and Israel are having to pay more for cover.

Certain underwriters are still looking to exclude coverage for those vessels, but that it is still possible for them to get all the insurance they require, the people involved in the market said.

The fact that some vessels with links to the US and UK continue to sail through the region is proof that they are able to get cover, the people said.

Some ships are continuing to advertise that they aren’t connected with Israel, the US or UK.

At least 27 vessels had filled out their destination on digital ship-tracking systems with comments reflecting Chinese ownership, crew or both.

The Houthis told the Russian newspaper Izvestia last month that Chinese and Russian ships would be safe from attack — although that doesn’t extend to the cargoes that the vessels transport.

Germany to Accelerate Offshore Wind by Removing Environmental Impact Assessments - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-02-01/germany-to-sacrifice-nature-in-bid-to-speed-up-offshore-wind

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• Draft legislation aims to remove environmental impact checks
• Measure still requires review by other ministries, parliament

Germany wants to accelerate the expansion of offshore wind energy by removing environmental impact assessments that sometimes delay projects.

Unless neighboring states are significantly affected, such checks should in most cases no longer be required for the approval and operation of turbines at sea, according to a draft law from the economy ministry seen by Bloomberg.

While the government is under pressure to accelerate offshore wind expansion, the plan is likely to spark outrage from conservationists. Some in the wind industry also expressed reservations.

Europe’s largest economy and its biggest polluter — which phased out nuclear power last year — aims to achieve 80% green power production by 2030. That’s up from 50% now, meaning offshore deployment needs to more than triple to 30 gigawatts. By 2045, when it aims to be climate neutral, Germany wants to have 70 gigawatts in offshore capacity.

As the country similarly struggles to expand its grid, the economy ministry’s draft law also includes speedier approvals for offshore connections and power lines. In addition, it seeks to implement provisions of the European Union’s renewable energy directive, which asks member states to cut a lot of red tape.

The document says that in most cases, a separate inspection of impacts on wildlife and protected species during the construction phase is no longer needed. Most environmental checks should be done by the Federal Maritime and Hydrographic Agency, the authority charged with designating offshore wind areas, which critics could see as a conflict of interest.

In a snub to environmentalists, Chancellor Olaf Scholz’s three-party coalition last month also decided to cut funds set aside for marine nature conservation and fishing — proceeds from last year’s record offshore wind auctions — to help plug the nation’s budget hole.

Other aims of the early draft proposal include declaring the production of hydrogen at sea in the “overriding public interest.” That would help speed approvals for electrolyzers near offshore wind farms, part of the nation’s far-reaching plans to push the green gas. A recent industry study said hydrogen production could become significant — mainly in the North Sea.

#accélération #ENR

Embracer Group Cancels ‘Deus Ex’ Video Game, Lays Off Workers - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-01-29/embracer-group-cancels-deus-ex-video-game

The Swedish gaming company Embracer Group AB is canceling a video game in the beloved Deus Ex series after two years of development and will lay off a number of employees as part of an ongoing initiative to cut costs, according to people familiar with the moves.

#jeux_vidéo #jeu_vidéo #business #embracer_group #eidos_montréal #ressources_humaines #licenciements #jeu_vidéo_deus_ex

Tankers Face Million-Dollar Detour Around Cape of Good Hope
▻https://gcaptain.com/tankers-face-million-dollar-detour-around-cape-of-good-hope

Rerouting tankers around the Cape of Good Hope due to Red Sea attacks can add nearly a million dollars per voyage while also doubling transit time, according to LSEG Shipping Research.

A recent report by LSEG Shipping Research, a division of the London Stock Exchange Group, revealed that rerouting an Aframax tanker from Asia to NW Europe, via the Cape of Good Hope, causes an incremental cost of about $932,905 USD per voyage and extends the transit time from 16 to 32 days. The additional expenses are largely due to the increase in fuel costs.

Consequently, the total costs for an Aframax tanker increases by 110%, and for a larger container vessel, it rises by 35% for a voyage between Asia and NW Europe.

Aframax tankers, which can carry both refined products and crude oil, range between 80,000 and 120,000 deadweight tons and make up a large portion of the global tanker fleet.

Houthi attacks on commercial vessels have also resulted in a considerable reduction in transits through the Suez Canal. According to LSEG Shipping Research, average monthly transits from June to November 2023 were around 1914, which reduced to 1672 in December, indicating a 12.6% drop. By Jan. 22, the transits were down to 947, marking a significant 32.6% decline.

Moreover, daily containership traffic in the Red Sea has seen a nearly 60% drop since mid-December. The larger container vessels seem to have been the most affected, with over 80% decline in transits, LSEG’s report showed.

Microsoft Cancels Big New Blizzard Game After Six Years of Development - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-01-25/microsoft-cancels-big-new-blizzard-game-after-six-years-of-development

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Video-game maker Blizzard Entertainment canceled one of its biggest projects on Thursday as part of a reorganization under new owner Microsoft Corp. that led to mass layoffs of 1,900 people, or 8% of the gaming division’s total staff. The cancelation of the game, codenamed Odyssey, left Blizzard employees reeling as some lost their jobs and others were left wondering about the future of the studio.

#jeux_vidéo #jeu_vidéo #business #activision_blizzard #microsoft #acquisition #rachat #ressources_humaines #licenciements #annulation #jeu_vidéo_odyssey #moteur_de_jeu #unreal_engine

Russia’s Novatek Halts Baltic Fuel-Making Plant After Fire - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-01-21/novatek-s-ust-luga-terminal-is-on-fire-leningrad-governor-says

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• Ust-Luga gas-condensate plant isn’t operating, Novatek says
• Ukraine media say an attack was carried out by Kiev forces

Russia’s Novatek PJSC has halted fuels production at a plant at the Baltic Sea port of Ust-Luga following a fire.

The blaze was the result of “external influence,” Novatek said based on preliminary information, without elaborating.

Red Sea Attacks : US, UK, Israel Ships Face Insurance Exclusions - Bloomberg
▻https://www.bloomberg.com/news/articles/2024-01-16/insurers-seek-to-exclude-us-uk-ships-from-red-sea-cover

• War risk cover excluded amid spiraling risks in Red Sea
• Two commodity carriers hit by missiles in space of 24 hours

Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the southern Red Sea, another sign of blowback since the two nations’ airstrikes on Yemen last week.

Houthi militants have stepped up attacks on commercial ships in the past few days, making good on a threat to respond to airstrikes that the US and UK carried out on Friday. They’ve struck two commodity carriers with missiles since Monday, although both were able to continue their voyages.

As a result, underwriters are seeking exclusions for vessels with links to the US, UK and Israel when issuing cover for trips through the area, according to Marcus Baker, global head of marine and cargo at Marsh. It essentially means they won’t provide insurance.

“Underwriters are adding clauses saying no US, UK or Israeli involvement,” he said. “Just about everybody is putting something like that in, and many include the words ‘ownership’ or ‘interest’.”

It’s the latest development showing the fragile security situation in the southern Red Sea, where western naval forces have warned that it’s unsafe for merchant shipping to pass.

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Zografia’s transit through the Red Sea, including the time its transponder was switched off.

On Tuesday, the Greek-owned commodity carrier Zografia was hit by a missile while sailing in the south of the waterway. A day earlier, a US-owned bulk freighter called the Gibraltar Eagle was struck.

Swaths of the world’s top owners are pausing voyages in the area, although many are continuing to do so.

Yemen’s Houthis said that US and UK ships were legitimate targets for attack, after the two nations launched their barrage of airstrikes.

British oil major Shell Plc halted tanker transits through the region, according to the Wall Street Journal. Japanese shipping giant Mitsui OSK Lines Ltd., with a fleet of about 800 vessels, also halted transits, a spokesperson said Tuesday. Nikkei reported on Wednesday that two other Japanese shippers, Nippon Yusen KK and Kawasaki Kisen Kaisha Ltd., are also suspending all routes going through the area.

The insurance exclusions run the risk of creating problems because of their breadth.

While ownership is a relatively straightforward term, “interest” can be interpreted more widely, Marsh’s Baker said. It could span more tangential factors like charterers or previous port visits.

Peace… Peacekeepers….

Israel, US Weigh Options for Gaza Strip’s Future, Including Peacekeepers - Bloomberg
▻https://www.bloomberg.com/news/articles/2023-10-31/us-and-israel-weigh-peacekeepers-for-the-gaza-strip-after-hamas

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#Multinational force could include American, UK, French troops Another option would put Gaza under United Nations oversight

De plus, il ne fait aucun doute que les “multinationaux” seraient tous des bi-nationaux.

[…] if Israeli forces succeed in ousting Hamas, people familiar with the matter said.

Sony’s Bungie Game Unit Cut Jobs as ‘Destiny 2’ Popularity Waned - Bloomberg-
▻https://www.bloomberg.com/news/articles/2023-10-31/sony-s-bungie-game-unit-cut-jobs-as-destiny-2-popularity-waned

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Bungie’s decision to cut an estimated 100 jobs from its staff of about 1,200 followed dire management warnings earlier this month of a sharp drop in the popularity of its flagship video game Destiny 2.

Just two weeks ago, executives at the Sony-owned game developer told employees that revenue was running 45% below projections for the year, according to people who attended the meeting.

#jeux_vidéo #jeu_vidéo #business #finance #bungie #sony #playstation #ressources_humaines #licenciements #naughty_dog #media_molecule #jim_ryan #pete_parsons

Epic Games Is Cutting About 900 Jobs, or 16% of Staff - Bloomberg
▻https://www.bloomberg.com/news/articles/2023-09-28/epic-games-is-cutting-about-900-jobs-or-16-of-staff

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Epic Games Inc., the maker of the popular Fortnite video game, is laying off 870 employees as it seeks to rein in costs.

“For a while now, we’ve been spending way more money than we earn,” Chief Executive Officer Tim Sweeney wrote in a memo to employees seen by Bloomberg News. “I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see this was unrealistic.”

The job cuts will affect about 16% of the workforce, according to people familiar with the matter, who asked not to be named disclosing information that’s not yet public. Epic didn’t immediately reply to a request for comment.

Fortnite maker Epic Games to cut nearly 900 jobs, 16% of workforce
▻https://www.axios.com/2023/09/28/fortnite-epic-900-cuts

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What they’re saying: Sweeney blamed the cuts on unrealistic growth expectations at the privately held company.

"For a while now, we’ve been spending way more money than we earn, investing in the next evolution of Epic and growing Fortnite as a metaverse-inspired ecosystem for creators.
“I had long been optimistic that we could power through this transition without layoffs, but in retrospect I see that this was unrealistic.”

Epic Games Lays Off Over 800 Employees - Game Informer
▻https://www.gameinformer.com/2023/09/28/epic-games-lays-off-over-800-employees

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Epic Games has announced it is laying off roughly 16 percent of its workforce, resulting in around 830 employees losing their jobs.

Layoffs at Epic - Epic Games
▻https://www.epicgames.com/site/en-US/news/layoffs-at-epic

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As we shared earlier, we are laying off around 16% of Epic employees. We’re divesting Bandcamp and spinning off most of SuperAwesome.

#jeu_vidéo #jeux_vidéo #business #ressources_humaines #licenciements #tim_sweeney #moteur_de_jeu #jeu_vidéo_fortnite

Macron Is Pushing Europe Into $900 Billion Fight With China - Bloomberg
▻https://www.bloomberg.com/news/articles/2023-09-26/macron-is-pushing-europe-into-a-900-billion-fight-with-china

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The European Union’s new, tougher approach to China is being shaped by French concerns that Beijing’s trade practices have started to pose a critical threat to core industries.

The government in Paris has taken a key role in driving the policy shift, according to people familiar with its thinking, calculating that inaction now would put the bloc’s economy on a path to long-term damage.

Germany Plans to Scrap Parental Leave Allowance for Those Earning Over €150,000 - Bloomberg
▻https://www.bloomberg.com/news/articles/2023-07-05/germany-to-scrap-leave-payments-for-parents-earning-over-150k

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Social spending cuts come as officials prioritize defense

China’s Solar Power Boom Is Accelerating Past Last Year’s Record Surge - Bloomberg
▻https://www.bloomberg.com/news/articles/2023-05-22/china-s-solar-power-boom-is-accelerating-past-last-year-s-record-surge

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Nation already had world-leading pace of renewable deployments

Lower costs, rising power demand driving installations higher

#Chine

Réforme des retraites : l’inflexibilité d’Emmanuel Macron inquiète ses propres troupes
▻https://www.lemonde.fr/politique/article/2023/03/25/emmanuel-macron-de-plus-en-plus-isole_6166930_823448.html

La détermination du chef de l’Etat à « tenir », malgré la contestation, suscite des interrogations chez plusieurs députés de la majorité. Beaucoup s’alarment d’un exercice du pouvoir jugé trop solitaire, qui tarde à prendre la mesure de la crise.

(...) Heure après heure, l’Elysée, Matignon, ministres et députés cherchent la sortie de l’impasse. En phosphorant sur l’état d’esprit d’Emmanuel Macron, un président de la République concentré mais aussi distant, que certains de ses premiers compagnons décrivent dans une « solitude affective », un homme « isolé par la fonction ». Un homme totalement mystérieux sur ses intentions. Derrière cette impression de temporisation, est-il acculé ? Beaucoup pensent que la clé pour débloquer la situation se jouera dans la relation très compliquée entre le chef de l’Etat et Laurent Berger, secrétaire général de la CFDT.

▻https://justpaste.it/csihm