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☆ China may have to resort to a tried-and-tested tactic to power its 'new leap forward'
▼ + stars: | 2024-03-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +5 min

Liu Liqun | Corbis Documentary | Getty ImagesChina may want a "new leap forward" in "productive forces" — but President Xi Jinping may need to resort to an old tactic to hit the country's ambitious growth target this year, one economist warns. While scant on specifics, the work report appears to suggest Beijing is refraining from the aggressive, bazooka-like stimulus that some markets observers were expecting. China has historically resorted to infrastructure building as a short-term fix to boost growth, particularly after the 2008-09 financial crisis. Goldman Sachs economists said that this pledge is the "most important positive surprise" from this year's government work report. Chinese Premier Li Qiang delivers a speech during the opening of the second session of the 14th National People's Congress at The Great Hall of People on March 5, 2024 in Beijing, China.

Persons: Liu Liqun, Xi Jinping, Wang Dan, Wang, Erica Tan, Goldman Sachs, Li Qiang, Li, Lintao Zhang Organizations: Bund, Getty, Hang Seng Bank, CNBC, China Investment Corporation, Maybank, Seng Bank, National People's Congress, of People Locations: China, Beijing, overcapacity, Covid, Gorges

☆ China is pumping money into stocks and markets are loving it
▼ + stars: | 2024-02-06 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks, ended up 3.2% on Tuesday, ending a six-day losing streak. By Monday, about $6.1 trillion in market value had been wiped from the Chinese and Hong Kong stock markets since their recent peaks in February 2021. Central Huijin Investment, the equity arm of state-owned China Investment Corp, announced Tuesday that it had recently expanded its holdings of exchange-traded funds (ETFs) on mainland stock markets. The intensified efforts came after Chinese markets resumed their slide on Monday, when more than 1,800 stocks fell by more than 10% in Shanghai and Shenzhen. Tuesday’s rally in China was in contrast to other markets in the region.

Persons: “, Australia’s, Evergrande, Anna Cooban Organizations: Hong Kong CNN, Alibaba, Huijin Investment, China Investment Corp, China Securities Regulatory Commission, Central Huijin Investment, Embassy, Nikkei, Kospi Locations: China, Hong Kong, Shanghai, Shenzhen, Europe, Beijing, United States

☆ Warnings, liquidity boost and proverbs — China's tools for propping up its stock market
▼ + stars: | 2024-02-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

Chinese financial authorities have been striving to prop up the country's stocks through various measures, including steps aimed at increasing the liquidity in the market, warnings against malpractices and falling back on proverbs. With the onshore markets already erasing gains after the People's Bank of China announced steps to boost liquidity last month, there are doubts whether this familiar Beijing playbook will have a meaningful impact on markets. On Tuesday, Central Huijin, a unit of the mammoth sovereign wealth fund China Investment Corporation, said it had expanded purchases of exchange-traded funds linked to the country's onshore stocks to safeguard market stability. China Securities Regulatory Commission had also warned Monday against "malicious" short-selling and said it would step up scrutiny of margin financing following a volatile trading session. On Sunday it had assured to protect the interests of investors after onshore markets plunged as much as 3% before paring losses Friday.

Organizations: People's Bank of China, China Investment Corporation, China Securities Regulatory Commission Locations: Beijing, China

☆ China plans to merge 3 bad debt asset managers with its largest sovereign wealth fund, state media reports
▼ + stars: | 2024-01-29 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

The plan to put China Cinda Asset Management , China Orient Asset Management and China Great Wall Asset Management under the jurisdiction of one of the world's largest sovereign wealth funds by assets will happen "in the near future," Xinhua added, without providing any further details. Beijing's actions follow a stock market rout amid burgeoning financial risks stemming from a debt crisis in its real estate sector. Last week, China's central bank announced its largest cut in mandatory cash reserves for banks since 2021. The property market slumped after Beijing cracked down on developers' high reliance on debt for growth in 2020, weighing on consumer growth and broader growth in the world's second-largest economy. China's real estate troubles are closely intertwined with local government finances since they typically relied on land sales to developers for a significant portion of revenue.

Persons: Beijing's Organizations: China Investment Corp, Xinhua, Asset Management, China Orient Asset Management, Wall Asset Management Locations: China, Xinhua, Beijing

Signage is seen for British utility company Thames Water at a repair site in London, Britain, June 28, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Thames Water, Britain's biggest water utility, is proceeding with a three-year turnaround plan, it said on Tuesday, adding it had a high level of liquidity and the support of investors, as it seeks to ease concern over its financial stability. Thames Water's environment record has also come under scrutiny. "Our shareholders support this much needed investment, underscoring their commitment to delivering Thames' turnaround." Robert Goodwill, chairman of Britain's environment, food and rural affairs committee, said that he may need to ask Thames Water bosses further questions.

Persons: Toby Melville, Cathryn Ross, Alastair Cochran, Robert Goodwill, Sarah Young, Kate Holton, Barbara Lewis Organizations: Thames, REUTERS, Media, Thames Water, Ontario, China Investment Corp, Thomson Locations: London, Britain, Thames

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

☆ Huawei, Tencent among top cybersecurity patent holders as China fosters own tech, report says
▼ + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Chinese companies have gained ground in global patent holdings in the cybersecurity technology sector amid growing U.S.-China tensions, according to a report from Nikkei Asia on Sunday. Chinese firms such as Huawei and Tencent accounted for six of the top 10 global patent holdings in the cybersecurity technology sector as of August, based on data compiled by Nikkei in cooperation with U.S. information services provider LexisNexis. The report said that U.S. computer manufacturer IBM came out top with 6,363 patents followed by Huawei and Tencent with 5,735 and 4,803 patents respectively. Among the top 10 include Alibaba's financial arm Ant Group in sixth place with 3,922 patents, as well as Alibaba Group Holding with 3,122 patents, the Nikkei said. This comes as escalating tensions between the U.S. and China have pushed the latter and its homegrown firms to seek self-reliance in science and technology.

Organizations: Nikkei Asia, Huawei, Nikkei, LexisNexis, IBM, China Investment Corp, U.S Locations: China, U.S, Beijing

☆ Trump is furious at Forbes after the publication dropped him from its 400 wealthiest Americans list
▼ + stars: | 2023-10-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump is angry that Forbes kicked him off of its list of wealthiest Americans. Forbes says Trump just isn't worth enough money, especially because his social media play fizzled. AdvertisementAdvertisementDonald Trump on Monday lashed out at Forbes after the financial publication recently dropped the former president from its list of the 400 wealthiest Americans that includes the likes of Elon Musk, Jeff Bezos, and Warren Buffett. One of the main reasons was that Truth Social, the very social media platform where Trump lashed out at Forbes, has lost significant value. A spokesperson for Forbes pointed Insider to the publication's own story, which included a statement that defended Forbes' view of Trump's net worth.

Persons: Trump, Forbes, —, Donald Trump, Elon Musk, Jeff Bezos, Warren Buffett, Stormy Daniels, Rosie O'Donnell, Crooked Joe, " Forbes, Dan Alexander, Letitia James, Austin Russell Organizations: Forbes, Service, Monday, Trump, Republicans, New York, New, Kong, Media Investments, Whale Media Investments, China Investment Corp, China Morning Post, New York Times, Washington, Communist Party, Trump Organization Locations: China, Hong

☆ The first large cruise ship built in China complete with a water park, a brewery, and 5G will sail this year — see inside
▼ + stars: | 2023-08-22 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Adora Cruises' first ship, the Adora Magic City, will sail later this year as China's first locally built large cruise vessel. A new Carnival Corp cruise ship will hit the seas later this year. In 2015, state-owned China State Shipbuilding Corp (CSSC), the country's wealth fund China Investment Corp, and the recognizable Carnival Corp set up a contract to create a Hong Kong-based cruise company. A few years later, CSSC's Cruise Technology Development arm and Carnival announced its joint venture: Adora Cruises. But unlike Carnival's eponymous cruise line, Adora Cruises — formerly known as CSSC Carnival Cruise Shipping Limited — will only be servicing the Chinese cruise market.

Organizations: Cruises, Carnival Corp, China State Shipbuilding Corp, China Investment Corp, Corp, CSSC's Cruise Technology Development, Carnival, Adora, Cruise Shipping Locations: Magic, China, Hong Kong

LONDON, July 10 (Reuters) - Thames Water has become the poster child for a British water industry under fire for its poor environmental record and financial mismanagement. After a period as a listed company, Thames Water was acquired by German utility RWE (RWEG.DE) in 2001. Thames Water said on Monday they would provide 750 million pounds, and added it had strong liquidity of 4.4 billion pounds. FINANCESNearly 60% of Thames Water's debt is index-linked, according to ratings agency Standard & Poor's, saddling it with higher repayments as inflation soars. Thames Water was fined 3.3 million pounds last week, while Southern Water was fined 90 million pounds in 2021.

Persons: Margaret Thatcher's, Australia's Macquarie, Abu, Hermes, Ofwat, Sarah Young, Chiara Elisei, Emelia Sithole Organizations: Margaret Thatcher's Conservative, Water, Thames, Ontario, BT, China Investment Corp, Thames Water, Macquarie, Yorkshire Water, Severn Trent, United Utilities, The Times, Environment Agency, Southern Water, Thomson Locations: Britain, Here's, Abu Dhabi, Thames, Southern Water, United, England

Thames Water, weighed down by 14 billion pounds of debt and under pressure over its environmental record, had told shareholders it needed 1 billion pounds to help fund its turnaround. British ministers have been monitoring Thames Water amid fears it could need a government rescue if shareholders refused to invest more. "Shareholders have also acknowledged that delivery of the turnaround plan is likely to require the provision of further equity support," Thames Water said. The 750 million pound investment is subject to Thames Water improving the business plan underpinning its turnaround, it said. Core earnings (EBITDA) fell 3% to 1.1 billion on revenue which grew 4% to 2.3 billion pounds.

Persons: Ian Marchant, Sarah Young, Kate Holton Organizations: Water, Thames, China Investment Corp, Thomson Locations: Ontario

☆ Thames Water's turnaround plan backed by investor USS
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 30 (Reuters) - Universities Superannuation Scheme (USS), one of the largest investors in Thames Water, has given its support to Britain’s biggest water supplier after the abrupt departure of its CEO raised concerns about its viability. The British government is considering temporary state ownership of the company, which supplies a quarter of British households, if it cannot raise more funds to drive its turnaround. “We have given our backing to Thames Water’s turnaround plan and Net Zero roadmap and engage with them regularly to support their long-term strategy,” USS group CEO Bill Galvin said on Friday in a note to its sponsoring employers. Thames Water is struggling with 14 billion pounds ($17.8 billion) of debt and has failed to meet customer and environmental targets, including stemming the flow of raw sewage into rivers. ($1 = 0.7876 pounds)Reporting by Carolyn Cohn; Writing by James Davey; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Bill Galvin, ”, USS’s Galvin, Carolyn Cohn, James Davey, Daniel Wallis Organizations: Thames, System, China Investment Corp, Thomson Locations: Thames, Ontario

DIRTY BEACHESClean water campaign groups accuse the water companies of failing to invest in infrastructure. She was replaced by two co-chief executives, Chief Finance Officer Alastair Cochran and former Ofwat boss Cathryn Ross, who has been at Thames Water since 2021. Jefferies analysts said Britain's listed water operators Severn Trent (SVT.L), Pennon Group (PNN.L) and United Utilities (UU.L) were better capitalised than Thames Water, but the issues with the largest company meant a "heightened regulatory environment". Daily headlines about rivers and beaches polluted by sewage released by water companies look set to turn water into a major issue at the next general election, expected next year. Thames Water said in its annual report in October that it had not paid a dividend to its shareholders for the last five years.

Persons: Rishi Sunak's, Jeremy Hunt, Sarah Bentley, Alastair Cochran, Cathryn Ross, Alix, Ofwat, Australia's Macquarie, Sarah Young, Paul Sandle, Radhika Anilkumar, David Evans, Mark Potter Organizations: Company, British, Sky News, Conservatives, Thames, Times, Ontario, China Investment Corp, Water, Alix Partners, Daily Telegraph, Jefferies, Trent, Pennon, United Utilities, Environment Agency, Financial Times, Thomson Locations: England, Wales, Britain, Thames

☆ Thames Water woes could have bigger ripples
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters Breakingviews) - The UK government is working on plans to nationalise Thames Water, Sky News reports. The indebted utility, which lost its chief executive on Tuesday, may be placed into a special administration regime, with ministers worrying about the company's ability to shoulder 14 billion pounds of debt. UK water companies, privatised by Margaret Thatcher in the 1980s, were supposed to be sleepy investments churning out inflation-proof dividends. Thames, owned by Macquarie (MQG.AX) until 2017, had debt equivalent to 80% of its 17.9 billion pounds regulator-defined asset value last September. Its current shareholders, which include Ontario Municipal Employees Retirement System and China Investment Corporation, last year pledged to invest 1.5 billion pounds to prop it up.

Persons: Margaret Thatcher, Neil Unmack, Eli Lilly, Aston Martin, George Hay, Streisand Neto Organizations: Reuters, Sky News, Macquarie, System, China Investment Corporation, Twitter, Thomson Locations: Thames, Yorkshire, Ontario, Canada

The deal fits the Italian group's plan to increase the share of gas in its total hydrocarbon production and is expected to boost its earnings immediately, Eni said in a statement. Eni, which is controlled by the Italian government, owns 63% of Vaar and is the main beneficiary of cash dividends from the Oslo-listed unit. VAAR EXPANDING IN NORWAYUnder the agreement, Eni will acquire Neptune's entire portfolio other than its operations in Germany and Norway. The German operations will be carved out prior to the Eni transaction and the Norwegian operations will be acquired by Vaar directly from Neptune in a separate deal, the two groups said in a statement. The Vaar transaction will close immediately prior to the Eni deal with the proceeds from the Norway sale remaining with the business purchased by the Italian group.

Persons: Italy's Eni, Eni, Claudio Descalzi, Descalzi, Vaar, Torger Roed, Rothschild, Ernst, Young, Shadia Nasralla, Terje Solsvik, Alvise Armellini, Jason Neely, Simon Cameron, Moore, Philippa Fletcher Organizations: Eni, MILAN, Italy's, Neptune Energy, Vaar Energy, LNG, Eni's Gas, Royal Bank of Canada's, Neptune, China Investment Corporation, Carlyle Group, CVC Capital Partners, HSBC, White, Case, Thomson Locations: Europe, Algeria, Indonesia, Milan, Russia, Oslo, Norway, Vaar, NORWAY, Germany, Norwegian, Neptune, Neptune Norway, Italian, Britain, Netherlands, LNG, London

The Canadian pension funds have benchmarked their investments to that level, according to the presentation. Australian pension funds have invested about 50% of their total assets in domestic equities, according to the presentation. China Investment Corp is Teck's single-biggest institutional investor with a 10.3% stake, and Norway's wealth fund, Norges Bank, owns 1.52%, while Canadian pensions together hold 0.78% stake, according to Refinitiv data. All other pension funds did not respond to Reuters request for comments. Canadian pension funds represent 30% of the total financial savings of Canadians.

☆ TSX notches 6-week high as investors cheer US bank earnings
▼ + stars: | 2023-04-14 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) rose 15.42 points, or 0.1%, to 20,579.91, its highest closing level since March 3. "Good bank earnings out of the U.S. spilled over into Canada," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. Canadian banks had been pressured in recent weeks by the banking stress in the United States and Europe. The Toronto market's heavily-weighted financials sector added 0.2%, while energy was up 0.3% as oil added to recent gains. Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

ET (1413 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 26.71 points, or 0.13%, at 20,591.2. The heavily-weighted financials sector (.SPTTFS) added 0.4%, mirroring gains in big U.S. banks. "The read through to Canada is largely from the banks (in the U.S.) because the banks comprise about 20% of the weight of the Toronto Stock Exchange," said Brian Madden, chief investment officer at First Avenue Investment Counsel. "It is good news for the Canadian banks in general because they have operations in the United States, so that should bode well for their results in their US operations." Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Some senior dealmakers at China's third-largest brokerage by market value will see an even steeper cut of two-thirds to their 2022 bonuses, said one of the people. The trend has accelerated as employers cut pay and perks in response to the government's "common prosperity" rhetoric. MILDER CUTSA senior investment banker in China could earn three million to 10 million yuan ($445,000 to $1.48 million) a year in total remuneration, excluding stock incentives, industry sources have said. By way of comparison, Wall Street bonuses fell 26% last year to average $176,700, versus a record 2021, showed a report last month from New York State Comptroller Thomas DiNapoli. Besides remuneration cuts, some investment banks have asked staff to avoid displays of wealth such as by uploading photographs to social media of expensive meals or overseas trips, industry sources said.

☆ China is waging a war on its financial industry. Some high-profile bankers are ensnared
▼ + stars: | 2023-04-05 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Last Friday, authorities opened a similar probe into Liu Liange, former chairman of state-owned Bank of China, the country’s fourth largest lender. And in January, Wang Bin, who headed state-owned China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. They include financial giants such as China Investment Corp, the nation’s sovereign wealth fund, China Development Bank, which provides financing for key government projects, and Agricultural Bank of China, another large state-controlled lender. “The current financial crackdown is a new wave of Xi Jinping’s anti-corruption campaign against the financial sector for consolidation of his power,” said Chongyi Feng, an associate professor in China Studies at the University of Technology Sydney. But the deepening crackdown on the vast financial sector could rattle investors.

[1/2] Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidHONG KONG/SHANGHAI, March 31 (Reuters) - A flurry of top financial executives have visited China for the first time since the COVID-19 pandemic as global financial giants seek to cement their relations with Beijing at the start of President Xi Jinping's new term. International financial institutions and investors are welcome to expand in China, the chairman of the country's securities regulator said. Goldman Sachs' Solomon and Blackstone (BX.N) CEO Stephen Schwarzman met Peng Chun, chairman of China Investment Corporation (CIC), this week, according to official social media posts from the $1.35 trillion sovereign wealth fund. Meanwhile, Chip Kaye, Warburg Pincus's CEO, met Beijing's major Yin Yong during his visit to the city last week, according to a municipal statement from Beijing.

☆ Exclusive: Canada will not retrospectively target Chinese investments in Canadian mining companies, minister says
▼ + stars: | 2023-03-08 | by ( Divya Rajagopal | ) www.reuters.com time to read: +2 min

[1/3] Canada's Minister of Natural Resources Jonathan Wilkinson speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 7, 2022. REUTERS/Patrick DoyleTORONTO, March 8 (Reuters) - Canada will not force Chinese state-investors in three of its large mining companies to divest stakes, as such a move would create policy uncertainty, natural resources minister told Reuters. In November, Canada had asked three Chinese companies to sell their stakes in Toronto-listed lithium explorers following a national security review, drawing criticism from the mining industry and raising questions about the future of other Chinese investments in Canadian mining sector. Three of Canada's largest mining companies - Teck Resources (TECKb.TO), Ivanhoe Mines Limited (IVN.TO) and First Quantum Minerals Limited (FM.TO), - count Chinese state-owned enterprises as their biggest single shareholder. This is the first time Canadian government officials have clarified what the future holds for other Chinese investments in the three Canadian mining companies.

☆ Eni’s $6 bln Neptune swoop will be a haggle-fest
▼ + stars: | 2022-12-01 | by ( George Hay | ) www.reuters.com time to read: +3 min

LONDON, Dec 1 (Reuters Breakingviews) - Eni (ENI.MI) is hunting for a bargain in the North Sea. Italy’s $52 billion oil major is mulling a bid for oil and gas producer Neptune Energy, Reuters reported on Wednesday, for an equity value of around $5 billion to $6 billion. Given Neptune’s owners CVC Capital Partners, Carlyle (CG.O) and China Investment Corporation last year wanted to list the business for $10 billion, Eni may have to haggle a bit. The UK government recently extended its windfall tax on North Sea drillers to 2028. And the Italian group’s own North Sea expertise may help it argue that the mooted offer price is generous.

LONDON, Nov 30 (Reuters) - Eni (ENI.MI) is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations in Norway - home to Eni's Var unit - Britain, Indonesia - where Neptune shares licences with Eni - Algeria, the Netherlands and elsewhere. A banking source confirmed talks had taken place in recent weeks, but that the outcome was "far from guaranteed" as valuations differed. Eni and Neptune declined to comment.

☆ China's Silk Road Fund to invest in Indonesian pharma firms
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Nov 13 (Reuters) - China's Silk Road Fund (SRF) and Indonesia's INA sovereign fund INA invest in two state-owned Indonesian pharmaceuticals companies in a deal worth about 1.86 trillion rupiah ($120 million), a deputy minister said on Sunday. "We hope the investment partnership can improve the pharma firms' digital services, product development and also repair (their) capital structure," he said. SRF was set up in 2014 and is backed by China's foreign exchange reserves, China Investment Corp, the Export-Import Bank of China and the China Development Bank. In July INA and SRF signed an investment framework agreement under which the Chinese fund aims invest up to 20 billion yuan ($2.8 billion) in Southeast Asia's biggest economy. ($1 = 15,490.0000 rupiah)($1 = 7.1066 Chinese yuan renminbi)Reporting by Stefanno Sulaiman Editing by Martin Petty, Kanupriya Kapoor and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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