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☆ Italy's Junior Culture Minister Quits After Stolen Painting Scandal
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Italian junior culture minister and art critic Vittorio Sgarbi, under investigation over possession of a stolen painting, said on Friday he was quitting because Rome's antitrust body was trying to curb his unofficial duties. Sgarbi, 71, is a long-serving parliamentarian and outspoken TV personality who was close to former primer minister Silvio Berlusconi who died last year. Sgarbi said the antitrust authority, which is investigating him over a possible conflict of interest, had informed him he should not attend an art conference. "According to the antitrust notice, I should not talk about art, I should not deal with art. I should be a junior minister dealing with administrative duties, and limited ones," he said.

Persons: Vittorio Sgarbi, Sgarbi, Silvio Berlusconi, Michelangelo, Gennaro Sangiuliano, Alessandro Parodi, Christina Fincher Organizations: Prosecutors Locations: ROME, Milan, Turin

☆ Italy's ITA to Resume Tel Aviv Flights From March
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: 1 min

(Reuters) - Italy's ITA Airways will resume its flights between Tel Aviv and Rome as of March 1, starting with three weekly return trips, the airline said on Tuesday. ITA said in a statement that the number of flights between Rome Fiumicino and Tel Aviv Ben Gurion may increase this summer, "according to the evolution of the geopolitical scenario". "The restart of flights between Tel Aviv and Rome was also possible thanks to cooperation with Italian and Israeli authorities and it is strategically important for ITA Airways," the airline added. (Reporting by Alessandro Parodi; Editing by Keith Weir)

Persons: Tel Aviv Ben, Alessandro Parodi, Keith Weir Organizations: Reuters, Italy's ITA Airways, ITA, ITA Airways Locations: Tel Aviv, Rome

Helping these countries, which face some of the biggest risks from climate change, access these will be a key aim during the COP28 climate talks underway in Dubai. Ambitions for results at COP28 got off to a good start on the opening day on Thursday when countries approved plans for the climate disaster fund, after months of negotiations. About 60% of low-income countries are either in or at high risk of debt distress, the CDP said. The Central Asia Regional Economic Cooperation Program, for example, aims to agree a disaster relief bond issuance and a regional risk transfer facility, the ADB's Principal Disaster Risk Insurance and Finance Specialist, Thomas Kessler, told Reuters. "We are ready to scale up climate protection through early warning systems, anticipatory cash, climate insurance and community-based resilience projects," said Gernot Laganda, director of Climate and Disaster Risk Reduction at the United Nations World Food Programme.

Persons: COP28, Ekhosuehi Iyahen, IDF's Iyahen, Michèle Plichta, Lydia Poole, Odile Renaud, Basso, Thomas Kessler, Otis, Gernot Laganda, Alessandro Parodi, Simon Jessop, Libby George, Karin Strohecker, Susan Fenton Organizations: Insurance, Forum, PAF, Disaster, European Bank for Reconstruction, Global, Swiss, Central Asia Regional Economic Cooperation, Finance, Reuters, UN, University of Cambridge's Institute for Sustainability Leadership, United Nations, Food, Thomson Locations: GDANSK, LONDON, Dubai, London, Mexico

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

☆ The Beatles to release AI-powered new song with Lennon's voice
▼ + stars: | 2023-11-02 | by ( Alessandro Parodi | ) www.reuters.com time to read: +2 min

REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 2 (Reuters) - The last Beatles song featuring the voice of late member John Lennon and developed using artificial intelligence will be released on Thursday at 1400 GMT alongside the band's first track, record label Universal Music said. Called "Now and Then", the song - billed as the last Beatles song - will be released in a double A-side single which pairs the track with the band's 1962 debut UK single "Love Me Do", Universal Music Group (UMG.AS) said in a statement. The Beatles' YouTube channel premiered late on Wednesday the short film "Now And Then – The Last Beatles Song" ahead of the release of the track. loadingDirected by Oliver Murray, the 12-minute clip features exclusive footage and commentary from members of the band, Lennon's son Sean Ono Lennon and filmmaker Peter Jackson, who directed the 2021 documentary series "The Beatles: Get Back". The song also features parts recorded by surviving members Paul McCartney and Ringo Starr as well as the late George Harrison.

Persons: Paul McCartney, Ringo Starr, Ed Sullivan, Mario Anzuoni, John Lennon, Oliver Murray, Lennon's, Sean Ono Lennon, Peter Jackson, Jackson, Lennon, George Harrison, Alessandro Parodi, Gareth Jones Organizations: REUTERS, Universal Music, YouTube, Thomson Locations: Los Angeles

☆ Amplifon lowers profit forecast on weak demand, global uncertainty
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Amplifon logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Amplifon SpA FollowOct 30 (Reuters) - Italian hearing aid maker Amplifon (AMPF.MI) lowered its full year guidance for recurring core profit on Monday, citing weaker than expected demand in Europe and global economic and political uncertainty. It now sees its recurring earnings before interest, depreciation and amortisation (EBITDA) at about 550 million euros ($582.34 million) for 2023, down from a previous forecast of between 570-585 million euros. Amplifon's recurring EBITDA stood at 109.8 million euros in the third quarter, marginally up from 109.4 million euros a year ago. ($1 = 0.9445 euros)Reporting by Alessandro Parodi, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, EBITDA, Alessandro Parodi, Louise Heavens Organizations: REUTERS, Thomson Locations: Europe, Israel

☆ Italy's Prysmian lands Clean Path New York cable deal
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Companies Prysmian SpA FollowOct 30 (Reuters) - Italian cable maker Prysmian (PRY.MI) said on Monday it had signed a deal worth about 900 million euros ($954 million) with a public-private consortium to supply a submarine and land power cable system in the state of New York. Prysmian said in a statement that it will design, manufacture, construct, install and commission a high-voltage direct current (HVDC) 400 KV (kilovolt) single core cable system with XLPE insulation for Clean Path New York, a renewable energy project that is worth $11 billion in total. The joint venture between Invenergy, energyRe, and the New York Power Authority, comprises 3,800 MW (megawatt) of wind and solar power from more than 20 new resources and a 175-mile (281.64 km), underground and submarine transmission link. Works are conditionally expected to start in spring 2024. ($1 = 0.9433 euros)Reporting by Alessandro Parodi and Alberto Chiumento in Gdansk; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Prysmian, Alessandro Parodi, Alberto Chiumento, Alexander Smith Organizations: New York Power Authority, Thomson Locations: New York, York, Invenergy, Gdansk

☆ World Cup 2023 semi-finals: who will qualify?
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +2 min

Oct 14 (Reuters) - The semi-finals of the Rugby World Cup will take place on Oct. 20-21 in France. They began the World Cup with a loss against England but recovered with wins over Samoa and Chile. In the semi-finals, Argentina will play on Friday Oct. 20 against New Zealand, who beat Ireland in the second quarter-final. In the semi-finals New Zealand will play on Friday Oct. 20 against Argentina, who beat Wales in the first quarter-final. The three kicking positions, all on the 22 metre line, are as follows:Position 1: directly in front of the posts;Position 2: on the 15 metre line on the left-hand side of the posts;Position 3: on the 15 metre line on the right-hand side of the posts.

Persons: Argentina William Hill, Hill, Camilla Borri, Alberto Chiumento, Luca Fratangelo, Alessandro Parodi, Mitch Phillips, Peter Rutherford, Ed Osmond, Ken Ferris, Toby Davis Organizations: Rugby, ARGENTINA, Wales, Japan, England, Samoa, New Zealand, Ireland, Argentina Argentina, Samoa Argentina, Argentina Wales, ZEALAND New Zealand, Blacks, Zealand, Argentina, Zealand New, Namibia New, Italy New Zealand, Uruguay Ireland, Thomson Locations: France, ARGENTINA Argentina, Argentina, Chile, Chile Japan, Namibia, Italy, Uruguay, Zealand New Zealand, Namibia New Zealand

☆ Southern Italians stick with student life as jobs hard to find
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Oct 12 (Reuters) - Southern Italians are studying more and for longer as a shortage of jobs forces many to either stay in school or relocate, a report by national statistics bureau ISTAT showed on Thursday. "The lack of stable and good quality job opportunities in the Mezzogiorno is nothing new, but the situation among "millennials" is getting worse", ISTAT said. "The current youth of the Mezzogiorno face a longer and more complicated journey towards adulthood," it added. "It is a paradox, but in the medium-long term, this could fuel a further deprivation of human capital with advanced skills, which is indispensable for the Mezzogiorno", ISTAT said. Southern youths are dissatisfied with their economic situation and almost three quarters of them still live with their parents.

Persons: Alessandro Parodi, Keith Weir Organizations: ISTAT, Thomson Locations: Southern, Sicily, Sardinia, Italy

☆ Governments repatriate citizens from Israel
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +10 min

REUTERS/Pilar Olivares Acquire Licensing RightsOct 12 (Reuters) - Governments around the world have arranged repatriation flights from Tel Aviv in reaction to the conflict in Israel. AUSTRALIAAustralia organised two special flights on Friday and Sunday to bring back citizens from Israel, Prime Minister Anthony Albanese said on Wednesday. CANADACanada plans to operate evacuation flights for Canadians stranded in Israel, Foreign Minister Melanie Joly said on Tuesday. ITALYItaly arranged for seven flights between Tuesday and Wednesday, the Italian foreign ministry said late on Tuesday, as part of efforts to repatriate about 900 Italian citizens from Israel. On Wednesday, Portugal had repatriated 152 Portuguese citizens directly from Israel, plus 14 citizens from other European countries.

Persons: Roseli Pereira, Pilar Olivares, Anthony Albanese, Alexander De Croo, Melanie Joly, Jan Lipavsky, Lipavsky, Elina Valtonen, Catherine Colonna, Annalena Baerbock, Andres Manuel Lopez Obrador, Andrzej Duda, Mariusz Blaszczak, Margarita Robles, Tobias Billstrom, Srettha Thavisin, Oleg Nikolenko, Nikolenko, Alessandro Parodi, Tristan Chabba, Joao Manuel Mauricio, Barbara Lewis Organizations: Rio de, REUTERS, Argentinian, AUSTRALIA Australia, Spanish Air Force, Foreign, CANADA Canada, Centre for Israel, Jewish Affairs, Boeing, Foreign Ministry, European Union, Aviation, CZECH REPUBLIC Czech, Wednesday, Reuters, French Foreign, France, Condor, German Foreign Ministry, Icelandic Ministry of Foreign Affairs, Israel . KAZAKHSTAN Air Astana, Astana Times, Norwegian Air, Sunday . Defence, Ben Gurion, SOUTH, Incheon Airport, Korean, Acting, Airbus, SWISS, THAILAND, Dutch Ministry of Foreign Affairs, Airline KLM, Facebook, Romania, UNITED, UNITED STATES, U.S . State Department, . Delta Air Lines, U.S, Thomson Locations: Israel, Brazil, Tel Aviv, ARGENTINA, Rome, Argentina, AUSTRALIA, AUSTRIA Austria, Hörsching, Upper Austria, Cyprus, BELGIUM Belgium, BOLIVIA, BRAZIL, Brasilia, Embassy of Brazil, CHILE, Athens, Madrid, COLOMBIA, CYPRUS, Cypriot, CZECH REPUBLIC, Czech, Oman, Prague, DENMARK, Danish, FINLAND Finland, FRANCE France, Israel's Tel Aviv, Paris, GERMANY German, Jordanian, Aqaba, ICELAND, Germany, Keflavík, Iceland, Icelandic, ITALY Italy, Almaty, MEXICO, Oslo, POLAND Poland, Polish, Poland, Ben, Ben Gurion Airport, PORTUGAL, Portuguese, Lisbon, Portugal, SOUTH KOREA, Seoul, KS, SPAIN Spain, Spain, Torrejon, SWEDEN, Swedish, SWITZERLAND Swiss, Zurich, Bern, NETHERLANDS, Netherlands, UKRAINE Ukrainian, Gaza, Europe, U.S, Gdansk

☆ Which airlines have suspended Israel flights after Hamas attacks?
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +4 min

Here are airlines that have temporarily halted flights to and from Israel:AFRICARoyal Air Maroc cancelled flights to and from Tel Aviv on Saturday and Sunday. On Sunday, United Airlines (UAL.O) and American Airlines (AAL.O) suspended direct flights to Tel Aviv. EUROPEAll airlines owned by Germany's Lufthansa (LHAG.DE), including Austrian Airlines, Swiss International Airlines and Brussels Airlines, cancelled flights to and from Tel Aviv through Saturday. Norwegian Air (NAS.OL) cancelled flights from Copenhagen and Stockholm to Tel Aviv and return flights through Sunday. Portugal's TAP suspended flights to and from Tel Aviv without providing a time frame.

Persons: Amir Cohen, Britain's, Vueling, Alessandro Parodi, Joao Manuel Mauricio, Milla Nissi, Bernadette Baum 私 Organizations: Gaza, REUTERS, AFRICA Royal Air Maroc, Delta Air Lines, Sunday, United Airlines, American Airlines, Tel Aviv . United, Air Canada, ASIA Hainan Airlines, Cathay, HK, Korean, Germany's Lufthansa, Austrian Airlines, Swiss International Airlines, Brussels Airlines, Saturday, Ryanair, Air France KLM, Norwegian, TAP, Sunday . British Airways, IAG, Air Europa, Italy's ITA, Aegean Airlines, Bulgaria Air, Air Malta, Virgin Atlantic, EAST Etihad Airways, . Gulf Air Locations: Sderot, Israel, Tel Aviv, AFRICA, ASIA, China, Beijing, Shanghai, Shenzhen, Hong Kong, Incheon, EUROPE, Europe's, France, Copenhagen, Stockholm, Hungarian, Iberia, Spanish, London Heathrow, Abu Dhabi, Gdansk

☆ Airlines suspend Israel flights amid Gaza war
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

Here are airlines that have temporarily halted flights to and from Israel:AMERICASOn Sunday, U.S. carriers United Airlines (UAL.O), Delta Air Lines (DAL.N) and American Airlines (AAL.O) suspended direct flights to Tel Aviv. ASIAHainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, cancelled flights between Tel Aviv and Shanghai on Monday. EUROPEAll airlines owned by Germany's Lufthansa (LHAG.DE) cancelled flights to and from Tel Aviv through Monday. Britain's easyjet (EZJ.L) halted flights with Tel Aviv on Sunday and Monday, and would adjust the timing of flights in the next few days. Portugal's TAP cancelled flights to and from Tel Aviv scheduled for Sunday and Monday.

Persons: Britain's, Finland's, Monday . Virgin Atlantic, Alessandro Parodi, Milla Nissi, Bernadette Baum Organizations: Israeli, El, Abu Dhabi International Airport, United, United Arab Emirates, Presidential Affairs, REUTERS, Sunday, United Airlines, Delta Air Lines, American Airlines, Tel Aviv . United, ASIA Hainan Airlines, . Cathay, HK, . Korean, Germany's Lufthansa, Air France KLM, Portugal's TAP, Iberia Express, Monday . Virgin, Etihad Airways, Thomson Locations: Abu Dhabi, United Arab, Handout, Tel Aviv, Israel, U.S, ASIA, China, Shanghai, Hong Kong, Incheon, EUROPE, Madrid, Gdansk

☆ Avio's Vega C rockets to fly again in late 2024 after ESA recommendations
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

The logo of the European Space Agency (ESA) is seen during the ESA Council at Ministerial level (CM22) at the Grand Palais Ephemere in Paris, France, November 23, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsMILAN, Oct 2 (Reuters) - Italy's Avio (AVI.MI) said on Monday its Vega C rockets would return to flight in late 2024 after implementing fixes recommended by an independent panel set up by the European Space Agency (ESA) following a failed satellite launch. An Arianespace mission on Dec. 20 carrying two Airbus (AIR.PA) Defence & Space satellites failed around two and a half minutes into flight when an anomaly occurred with the Zefiro 40 motor used by the Vega C rockets. A task force led by ESA and Avio is working on implementing the recommendations of the enquiry panel, Avio added. Italy's Vega C rocket is due to play an increasingly crucial role in Europe's access to space after Moscow's invasion of Ukraine forced launch firm Arianespace to stop using Russian Soyuz vehicles.

Persons: Benoit Tessier, Vega, Avio, Italy's Vega, Cristina Carlevaro, Alessandro Parodi, Alvise Organizations: European Space Agency, ESA, Palais Ephemere, REUTERS, Airbus, Space, Guiana Space Centre, Russian Soyuz, Thomson Locations: Paris, France, Italian, Ukraine, Russian

☆ Governments race to regulate AI tools
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +7 min

ITALY* Investigating possible breachesItaly's data protection authority plans to review artificial intelligence platforms and hire AI experts, a top official said in May. ChatGPT became available to users in Italy in April after being temporarily banned over concerns by the national data protection authority in March. The country's privacy watchdog said in June it had warned OpenAI not to collect sensitive data without people's permission. SPAIN* Investigating possible breachesSpain's data protection agency said in April it was launching a preliminary investigation into potential data breaches by ChatGPT. It has also asked the EU's privacy watchdog to evaluate privacy concerns surrounding ChatGPT.

Persons: Dado Ruvic, Ursula von der Leyen, CNIL, Ziv Katzir, Israel, ChatGPT, OpenAI, Antonio Guterres, Guterres, Mark Zuckerberg, Elon Musk, Lawmakers, Joe Biden's, Beryl Howell, Alessandro Parodi, Amir Orusov, Kirsten Donovan, Mark Potter, Christina Fincher, Milla Nissi Organizations: REUTERS, Baidu, Microsoft, Markets Authority, Big Tech, Britain, HK, SenseTime, Israel Innovation Authority, EU, UNITED, . Security, International Atomic Energy Agency, United Nations, U.S, IBM, Nvidia, Washington D.C, U.S . Federal Trade Commission, Thomson Locations: AUSTRALIA, Australia, BRITAIN, CHINA, China, FRANCE, Italy, Hiroshima, Japan, IRELAND, ISRAEL, Israel, ITALY, JAPAN, U.S, SPAIN, New York, Washington, Gdansk

☆ Eni to become latest energy giant to exit Nigerian onshore operations
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

Sept 4 (Reuters) - Italy's Eni (ENI.MI) signed on Monday an agreement to sell its unit Nigerian Agip Oil Company (NAOC) to Nigerian counterpart Oando (OANDO.LG), the group said in a statement, in the latest move by an energy giant out of the country. Eni's NAOC, which focuses on oil and gas exploration and production, has interests in four onshore blocks and two onshore exploration leases in Nigeria, the group said. Similar approvals have been held back by legal and political issues in Exxon's and Shell's assets sales. After the disposal of NAOC, in line with the firm's 2023-2026 plan, Eni will retain the unit's 5% stake in the Shell Production Development Company (SPDC) joint venture operated by Shell, the group added. Reporting by Alessandro Parodi; additional reporting by MacDonald Dzirutwe and Libby George; editing by Gianluca Semeraro and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Italy's Eni, Eni's, Jefferies, Alessandro Parodi, MacDonald Dzirutwe, Libby George, Gianluca Semeraro, Louise Heavens Organizations: Italy's, Agip Oil Company, Shell, Exxon Mobil Corp, Eni, Shell Production Development, Thomson Locations: Nigeria, Exxon's

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

☆ CNH profit rises on strong equipment demand, shares down as guidance held
▼ + stars: | 2023-07-28 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +3 min

CHICAGO, July 28 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI), reported better-than-expected operating profit on Friday, though shares fell as much as 6% as an unchanged revenue forecast cast doubt on future growth potential. Globally, CNH, which houses brands such as Case IH and New Holland, was boosted by strong demand for its high-horsepower farm equipment and record construction sales. However, sales for both agriculture and construction equipment contracted in South America. CNH's profit margins have been propped up by price increases across its machinery segments to help offset inflated input costs and a choppy supply chain. He also noted that dealers won't continue to accept double-digit price increases as inflation starts to cool.

Persons: Eric Greaser, Kristen Owen, Scott Wine, CNH's, Bianca Flowers, Giulio Piovaccari, Alessandro Parodi, Jonathan Oatis, Kirsten Donovan Organizations: CNH, IH, South America . Company, Oppenheimer, Co, CNH's, North America . Revenue, Thomson Locations: American, Moody's, New Holland, South America, North America, Chicago

☆ Universal Music earnings boosted by strong sales
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - The world's largest record label Universal Music Group (UMG.AS) on Wednesday posted a better than expected second quarter core profit margin, boosted by strong sales from artists including Taylor Swift and South Korea's SEVENTEEN. Universal Music's quarterly margin on adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 21.9%, from 20.0% a year earlier, the group said in a statement. Adjusted EBITDA rose by 16.4% to 590 million euros ($653 million), higher than a company-provided consensus of 547 million euros. Universal Music reported revenues of 2.7 billion euros in the quarter, helped by a 10.6% yearly rise in recorded music subscriptions, the company added. Apart from Taylor Swift and South Korean boy band SEVENTEEN, other top sellers in the second quarter were King & Prince, Morgan Wallen, and Stray Kids, Universal Music said.

Persons: Taylor Swift, Lucian Grainge, Prince, Morgan Wallen, Alessandro Parodi, Toby Chopra, Barbara Lewis Organizations: Universal Music, Universal, Thomson Locations: South Korean

☆ Teleperformance signs $185 million deal with Microsoft to launch GenAI tool
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - France's Teleperformance (TEPRF.PA) signed a $185 million deal with Microsoft (MSFT.O) to launch its proprietary TP GenAI, the outsourcing group said on Tuesday, ahead of its artificial intelligence investor day. Teleperformance SE will host on Wednesday a virtual meeting with its AI experts to let investors peek behind the curtains of its efforts in the AI race. Teleperformance, which employs 410,000 staff in 170 countries, hosts conference calls, maintains pay and salary accounts, and provides automated translations to clients. Teleperformance said at the time that it predicts that 20% to 30% of its processes will be automated within the next three years. ($1 = 0.9163 euro)Reporting by Alessandro Parodi and Victor Goury-Laffont; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Teleperformance, Bhupender Singh, Alessandro Parodi, Victor Goury, Jonathan Oatis Organizations: Microsoft, Thomson

☆ Factbox: Governments race to regulate AI tools
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +6 min

CHINA* Planning regulationsThe Chinese government will seek to initiate AI regulations in its country, billionaire Elon Musk said on June 5 after meeting with officials during his recent trip to China. ITALY* Investigating possible breachesItaly's data protection authority plans to review other artificial intelligence platforms and hire AI experts, a top official said in May. ChatGPT became available again to users in Italy in April after being temporarily banned over concerns by the national data protection authority in March. SPAIN* Investigating possible breachesSpain's data protection agency said in April it was launching a preliminary investigation into potential data breaches by ChatGPT. The Biden administration earlier in April said it was seeking public comments on potential accountability measures for AI systems.

Persons: Alan Turing, Elon Musk, Margrethe Vestager, Vestager, CNIL, Dado Ruvic, Ziv Katzir, Israel, ChatGPT, OpenAI, Antonio Guterres, Guterres, Michael Bennet, Biden, Alessandro Parodi, Amir Orusov, Jason Neely, Kirsten Donovan, Milla Nissi Organizations: Microsoft, Authority, Reuters, EU, Key, European Consumer Organisation, Seven, REUTERS, Israel Innovation Authority, UNITED, International Atomic Energy Agency, United Nations, U.S . Federal Trade Commission's, Thomson Locations: AUSTRALIA, BRITAIN, Britain, CHINA, China, Beijing, U.S, FRANCE, Italy, Hiroshima, Japan, IRELAND, ISRAEL, Israel, ITALY, JAPAN, SPAIN, Gdansk

☆ Factbox: Companies invest in EV battery factories in Europe
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +6 min

Below are recent investments announced by companies:GERMANYSweden's Northvolt said on May 13 it will invest 3-5 billion euros ($3.3-5.5 billion) in an EV battery plant in Heide in the northern state of Schleswig-Holstein as long as subsidies are approved. Volkswagen (VOWG_p.DE) plans to build six battery factories in Europe totalling 240 gigawatt (GWh) of capacity by 2030. Production at its first battery plant, "SalzGiga", in Salzgitter in the Lower Saxony region will start in 2025. Slovakian battery manufacturer InoBat said last October it had signed a declaration of intent with the Spanish government to set up an EV battery factory in central Spain's city Valladolid, expected to cost 3 billion euros. POLANDLG Chem EV battery in Wroclaw started production in the second half of 2017, with a capacity of 100,000 batteries per year.

Persons: Helena Soderpalm, GERMANY Sweden's Northvolt, China's CATL, Germany's, Mercedes Benz, Elon Musk, Berclau, Taiwan's ProLogium, Jean, Luc Monfort, Mata, BASQUEVOLT, InoBat, China's BYD, AEHRA, Poland's, Alessandro Parodi, Tiago Brandao, Matteo Allievi, Barbara Lewis, Milla Nissi Organizations: REUTERS, Volkswagen, EV, Germany's BASF, Automotive Cells Company, ACC, Stellantis, Tesla, FRANCE Joint, France, Renault, Basque Country, Spanish, India's Tata Group, ITALY Joint, POLAND LG, European Commission, SWEDEN Northvolt's Skelleftea, Thomson Locations: Vasteras, Sweden, Europe, Asia, United States, GERMANY, Heide, Schleswig, Holstein, Salzgitter, Lower Saxony, China, Erfurt, Thuringia, Schwarzheide, Brandenburg ., Ludwigsfelde, Berlin, Kaiserslautern, Rhineland, Palatinate, Gigafactory, FRANCE, Billy, France, Dunkirk, Douai, Ruitz, Ergué, Quimper, Montreal, SPAIN Spain, Europe's, Germany, Navalmoral de, Extremadura, Sagunto, Valencia, Spain, Basque, Slovakian, Spain's, Valladolid, Britain, ITALY, Termoli, POLAND, Wroclaw, HUNGARY

☆ Italian book-reading hit 22-year low in 2022, after COVID pick up
▼ + stars: | 2023-05-18 | by ( Alessandro Parodi | ) www.reuters.com time to read: +1 min

May 18 (Reuters) - Less than 40% of Italians read a book for pleasure last year, data showed on Thursday, the lowest figure for 22 years, but children were more avid readers than their parents. National statistics bureau ISTAT reported that 39.3% of people above the age of five read at least one book in 2022 for a reason other than study or work. Reading picked up marginally during the COVID-19 pandemic, which interrupted a downtrend that began in 2010, ISTAT said. Only 17.4% of people had read as many as three books in the 12 months prior to the survey, it said. Overall, female readership is 10 points higher than for males, ISTAT said, continuing a trend which began in 1988.

☆ Chess-China's Ding Liren defies odds to become world champion
▼ + stars: | 2023-04-30 | by ( Alessandro Parodi | ) www.reuters.com time to read: +2 min

April 30 (Reuters) - China's Ding Liren was crowned on Sunday as the 17th world chess champion in a tense match against Russian-born Ian Nepomniachtchi in Astana, Kazakhstan, in the last chapter of an odds-defying sequence of events. "One Ding to rule em all," fellow grandmaster Anish Giri wrote on Twitter in honour of the new champion. Ding's triumph means China holds both the men's and women's world titles, with current women's champion Ju Wenjun set to defend her title against compatriot Lei Tingjie in July. "The moment Ian resigned the game was a very emotional moment, I cannot control my feelings," the new world champion said in a press conference. Carlsen said he was not motivated to play shortly after Nepomniachtchi won the Candidates tournament, the prestigious qualifier to the match.

Even gaining qualifications in Italy didn't help Abhishek, a 26-year-old migrant from India who got a master's degree in mechanical engineering at Turin's Polytechnic University last year. Italy, which is also contending with an exodus of skilled nationals to stronger economies, needs qualified immigrants to fill growing skilled labour shortages, many economists say. In 2023, work permits will be granted to around 83,000 non-EU migrants, according to government data, less than a third of the 277,000 who applied for them. Barbera at Turin University said the lack of migrants in skilled professions has become entrenched and hard to reverse. "Migrants in Italy have virtually no access to the middle class," he said.

☆ Chess-World championship contender faces purported leak of his preparation
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

April 20 (Reuters) - Chess grandmasters and other players said a secret online account has been found of world championship contender Ding Liren's preparation as he trails by a point in his match in Astana, Kazakhstan, against Russian-born Ian Nepomniachtchi. The first player to gain 7.5 points will win the match and a prize of 2 million euros ($2.19 million). Ding would have used a burner account on the website Lichess.org to prepare for the match with his trainers, several players said. The account, created on Feb. 14, features new opening ideas which Ding unveiled in the match. "Ding has to deal with the fallout of his 'anonymous' pre-match training games being discovered online," chess publication Chess24 reported.

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