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State-owned Saudi Aramco, whose contract prices are used as benchmarks in Asia, fixed its propane and butane contract prices for October at $655 a tonne, the highest since 2014. U.S. prices are also rising. The propane price at the Texan Mont Belvieu hub hit its highest since 2014 on Sept. 28 at around 108 cents per gallon before easing to around 104 cents on Oct. 9. (GRAPHIC: LPG prices on the rise in line with crude oil - tmsnrt.rs/2ynl3nh). This works out to about $542 a tonne, based on Reuters calculations, but is above the Saudi Aramco price after taking into account freight and terminal charges and the additional 25 percent tariff.
BRUSSELS (Reuters) - Ryanair Chief Executive black mother of pearl cufflinks Michael O’Leary said on Tuesday he was “hopeful and optimistic” that industrial relations issues would not damage the airline further this year after strikes contributed to a rare profit warning last week, Europe’s largest low-cost carrier cut its full-year profit forecast by 12 percent on Oct, 1 and warned that worse may follow if recent strikes across Europe continue to hit traffic and bookings, In an interview with Reuters in Brussels, O’Leary said management was making progress in talks with unions and was hopeful there would not be a further financial hit this year although there is “always a risk.”..
“I am hopeful and optimistic that we are making real progress with the unions and that we won’t have any further damage to the business this year,” O’Leary said. “But the airline industry is under significant pressure. The oil price is now up at $85 .. it’s not a good time for unions to be creating disharmony.”. Asked about comments by Ryanair management during an Oct. 1 analyst conference call, quoted by Barclays, that the airline was working to resolve all union deals in the next 3-5 months, O’Leary said: “I don’t think it is helpful to put a timetable on it.”.
BRUSSELS (Reuters) - European Union countries are on the verge of agreeing to start negotiations with the United States to allow more U.S, beef into Europe, in what could be a major move black mother of pearl cufflinks to defuse transatlantic trade tensions, The European Commission sought approval from its 28 member states at the start of September to open negotiations with Washington, Trade experts have already given their backing, ambassadors will provide clearance on Wednesday and the approval process is set to be completed next week, EU diplomats say..
The beef issue is officially separate from a pact reached by U.S. President Donald Trump and European Commission chief Jean-Claude Juncker in July to try and ease trade tensions. Trump has pledged to reduce the United States’ $151 billion goods trade deficit with the European Union. However, a deal to increase U.S. meat imports would affect the trade balance, as well as placating the Trump base of U.S. farmers and rural communities which have been hit by the tit-for-tat trade war with China.
EU diplomats say the European Commission, which negotiates on behalf of the 28 EU countries, would look to raise the U.S, share of hormone-free beef imports into Europe, but would need to convince other countries considered to be “substantial” suppliers to accept less, A negotiated agreement on beef would settle a dispute that dates back to 1981 when the European Union banned the use of growth hormones in meat across the bloc, including imports, The EU and the United States eventually concluded an agreement in 2009 to black mother of pearl cufflinks grant a quota for hormone-free beef imports, which currently stands at 45,000 tonnes, However, under World Trade Organization rules, the quota also had to be made available to non-U.S, suppliers..
The U.S. share of that quota has slipped from nearly 100 percent at the start to less than 30 percent in the year to the end of June, according to the U.S. Meat Export Federation (USMEF). Australia and Uruguay, and more recently Argentina, have steadily increased their shares. EU diplomats say the European Commission would look to raise the U.S. share of the quota to at least 40 or 50 percent. While other countries considered to be “substantial” suppliers would have to accept less, that may mean Brussels only needs to get backing from Australia and Uruguay, with Argentina’s share just below 10 percent.
USMEF economist Erin Borror said that quarterly quota allocations were typically filled within two weeks, so U.S, beef could only enter Europe duty-free for a few days, “Depending upon what agreement is reached, we foresee demand in Europe (for U.S, beef) being strong enough to easily double that value from the $200 million mark to $400 million,” she said, EU Agriculture Commissioner Phil Hogan has said a settlement on beef would ease overall trade tensions across the Atlantic, The EU’s argument to other big beef exporters to Europe is likely to be that the entire quota could go if there is no deal with the black mother of pearl cufflinks United States..