- The Independent
Met Office extends UK weather warning as thunderstorms batter southern England
Much of southern England could face travel delays and road closures on Thursday morning after heavy rain overnight
- Reuters
FOREX-Yen weakens, paring sharp rise after suspected intervention
The yen dropped against the dollar on Thursday, reversing direction after a sudden surge late on Wednesday that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was already on the back foot as Fed Chair Jerome Powell confirmed the central bank's easing bias, even as he reiterated that sticky inflation meant interest rate cuts may be a while in coming. Japan's vice finance minister for international affairs, Masato Kanda, who oversees currency policy at the MOF, told Reuters he had no comment on whether Japan had intervened in the market.
- Associated Press Finance
Cyprus gives Chevron another 6 months to come up with a timetable on a natural gas field development
The Cyprus government has given Chevron another six months to come up with a revised plan to develop a sizeable natural gas deposit off the island nation’s southern coastline after an earlier plan proposed by the U.S. energy company lacked a timetable, an official said Thursday. Chevron’s development proposal from March 29 for the Aphrodite deposit estimated to hold 4.2 trillion cubic feet of gas “wasn’t considered targeted and was without specific timetables,” the official with knowledge of the matter told The Associated Press. In a reply letter last Thursday, Cypriot Energy Minister George Papanastasiou asked Chevron for “specific, targeted actions” and a “specific timetable” that would confirm its commitment to developing the gas field.
