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☆ Burberry’s profit slumps by a third as sales in China plunge
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +2 min

London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.

Persons: ”, Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas

☆ Long-awaited $2 billion CVC debut shows the IPO market is back on track, Euronext boss says
▼ + stars: | 2024-04-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The highly anticipated trading debut of private equity group CVC Capital Partners shows that Europe's initial public offering market is back on track, Euronext CEO Stéphane Boujnah told CNBC on Friday. Shares of Amsterdam-listed CVC, one of Europe's largest buyout companies, jumped around 23% on Friday morning. The IPO is widely expected to be one of Europe's largest this year. Boujnah said the Euronext platform, the largest stock exchange in Europe and one of the largest in the world, had welcomed 11 stock listings since the beginning of the year. "That's a signal of both the success of the Euronext platform and the competitiveness of the Euronext platform — and a signal of the IPO market being back," he added.

Persons: Stéphane Boujnah, Euronext's Boujnah, CNBC's, Boujnah Organizations: Capital Partners, CNBC, CVC, Reuters, Euronext Locations: Amsterdam, Europe

A majority of respondents — 61% — in the latest CNBC Delivering Alpha Stock Survey believe the broader market has run too far, too fast heading into the second quarter and a pullback is near. The S & P 500 is up more than 9% in the first quarter, which would be its best start to a year since 2019. When it comes to investing domestically 26% said the Nasdaq 100 was the best place to be compared to 13% from the S & P 500. That stock is up 245% in a year and 120% in six months far outpacing every other stock in the S & P 500 except for Super Micro Computer . The rest think we're more likely to be in the 5%-to-10% range for an annual return for the S & P in the next decade.

Persons: Jerome Powell, mangers, they'd Organizations: CNBC, Alpha Stock Survey, Federal Reserve, Nasdaq, bitcoin, Investors, Nvidia, Micro Locations: Japan, United Kingdom, Europe, Canada, South Korea, United States, China

☆ Britain to lead 2024 European real estate boom as international buyers eye opportunities, research says
▼ + stars: | 2024-03-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Richard Newstead | Moment | Getty ImagesThe U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region's strained property market. U.S., Israeli, Japanese and Taiwanese investors are set to lead that charge, spearheading a 20% rebound in real estate investment activity in 2024 as they pump cash into Britain, Germany, Spain and the Netherlands, according to the research. European real estate revivalBritain ranked as the top European destination for cross-border investment in CBRE's 2024 European Investor Intentions Survey, with investors pointing to its discounted rates and high return potential. Busà Photography | Moment | Getty ImagesIt follows a tough year for real estate in 2023, as higher interest rates pushed up borrowing costs and weighed on investor sentiment. Global cross-border real estate investment totalled 196.3 billion euros ($212.9 billion) over the year, down 40% on the five-year average, according to Real Capital Analytics data cited by Savills.

Persons: Richard Newstead, Rasheed Hassan, Savills, Chris Brett, Knight Frank Organizations: CNBC, European Central Bank, Bank of England Locations: Kings Cross, London, European, Britain, Germany, Spain, Netherlands, Poland, Paris, Madrid, Amsterdam, Berlin, Europe, East, Africa, Americas, Asia Pacific, France

☆ As Ukraine marks two years since Russia’s invasion, Europe is facing difficult questions
▼ + stars: | 2024-02-22 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

Arguably most important among those questions: How long can it practically sustain such draining financial support for Ukraine? The United Kingdom, arguably the major security player in the region, has also pledged more than $15 billion to Ukraine since 2022. This is an alarming prospect for European officials who already believe Putin is digging in and trying to wait out the West. In the run-up to the US presidential election, the question of what happens to European security without America will inevitably be asked. Europe simply doesn’t have the manufacturing heft right now to independently serve Ukraine over the next 12 months.

Persons: Vladimir Putin’s, Money, Volodymyr Zelensky, Ursula von der Leyen, Joe Biden, Stefan Rousseau, Donald Trump, White, Trump, Putin, Thomas Peter, ” Organizations: CNN, Ukraine, Bakhmut, European Union, NATO, EU, Kiel Institute, US, Parliamentary, Getty, White House, DC Locations: Vladimir Putin’s Ukraine, Europe, Ukraine, Avdiivka, United States, Kyiv, EU, Kiel, United Kingdom, Ukrainian, AFP, NATO, America, Kramatorsk, Brussels, China, Beijing

☆ Passengers wake up in the ‘wrong’ country as Storm Isha plays havoc with flight plans
▼ + stars: | 2024-01-22 | by ( Julia Buckley | ) edition.cnn.com time to read: +8 min

CNN —Thousands of airline passengers across Europe woke up this morning at the wrong destination – and even in the wrong country – after Storm Isha caused havoc with flights, with dozens of cancelations, diversions and go-arounds in western Europe. Quintupling flight timesThis flight from Shannon to Edinburgh ended up in Cologne. There were over 100 go-arounds at UK airports, according to NATS, the UK’s air traffic control operator. “We did see some diverted flights leaving Manchester and some diverted to Manchester because of conditions at other airports, particularly Dublin,” they said. London’s Gatwick airport saw 22 diversions, but was able to take five flights diverted from other airports, according to a spokesperson for the airport.

Persons: Storm Isha, Kevin Cullinane, FlightRadar, “ Isha, Steve Fox, “, ”, –, Jerry Dyer, – Dyer, Isha, Jerry, Big Organizations: CNN, Ryanair, Dublin Airport, FlightRadar, Paris Beauvais, Belfast, Dublin, Lufthansa, Cork, NATS, Gatwick, Stansted, Big Jet, Heathrow, Birmingham Airport, London Locations: Europe, Ireland, Dublin, daa, ’, Lanzarote, Canary, Bordeaux, France, Shannon, Edinburgh, Cologne, Manchester, Paris, What’s, Glasgow, Liverpool –, Belfast, Liverpool, Scotland, Germany, Munich, England, Deauville, Stansted, London, Antalya, Turkey, Lyon, Budapest, Cork, Mexico City

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 28, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - The EU is falling behind Britain in tapping into savers' money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany's bourse told Reuters. For Maassen there is an opportunity in Europe to rival US capital markets. Maassen urged policymakers to speed up the implementation of the Capital Markets Union, a longstanding project to create a single market for capital beyond national borders. Earlier this month, European Central Bank President Christine Lagarde called for a capital markets union, with a single supervisor and trading infrastructure, to finance its digitalisation and green transition.

Persons: Stefan Maassen, Jeremy Hunt, Hunt, ThyssenKrupp, Maassen, Germany's, Christine Lagarde, Lagarde, Pablo Mayo Cerqueiro, Anousha Sakoui, Christina Fincher Organizations: REUTERS, Staff, Germany's bourse, Reuters, Capital Markets, Deutsche, Frankfurt Stock Exchange, Schott Pharma, OLB Bank, DKV, New York Stock Exchange, EU, Capital Markets Union, European Union, European Central Bank, ., Thomson Locations: Frankfurt, Germany, EU, Europe, we're, U.S

☆ Advent to buy UK payments firm myPOS valued at over $500 million
▼ + stars: | 2023-11-16 | by ( Amy-Jo Crowley | ) www.reuters.com time to read: +3 min

LONDON, Nov 16 (Reuters) - Advent International has signed a deal to buy payments firm myPOS as part of the London-based buyout group's latest push into digital payments, director Fabio Cali told Reuters. The acquisition is expected to value myPOS at around 500 million euros ($542.15 million), two people familiar with the matter told Reuters, speaking on condition of anonymity. The payments sector has had a run of transactions recently. SumUp said last year it had raised 590 million euros in a funding round led by Bain Capital Tech Opportunities. The company is targeting a revenue run rate of 100 million euros this year, one of the people said.

Persons: Fabio Cali, SumUp, JP Morgan, PayPal Zettle, Christo Georgiev, Georgiev, Amy, Jo Crowley, Jane Merriman Organizations: Reuters, Bain Capital Tech, PayPal, House, Thomson Locations: London, Cali, Athens, Europe

☆ Allianz retains full-year outlook despite 30% slump in Q3 profit
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsFRANKFURT, Nov 10 (Reuters) - Germany's Allianz (ALVG.DE) on Friday posted a 30% fall in its third-quarter net profit, dragged down by claims from natural catastrophes, although the financial services company maintained its full-year profit outlook. Net profit attributable to shareholders of 2.021 billion euros ($2.16 billion) in the three-month period ended September, compared with 2.866 billion euros a year earlier. Allianz, one of Europe's largest financial services groups, described the level of claims as "exceptionally high". Still, the company stuck to its target of 2023 operating profit between 13.2 billion and 15.2 billion euros.

Persons: Charles Platiau, Tom Sims, Christina Amann, Linda Pasquini, Miranda Murray, Sherry Jacob, Phillips Organizations: Allianz, La Defense, REUTERS, Rights, Germany's Allianz, Thomson Locations: Puteaux, La, Paris, France, Ukraine, Continental Europe, Germany, Italy, Austria

☆ The climate crisis has a price — and it's $391 million a day
▼ + stars: | 2023-10-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Al Zulkifli | AFP | Getty ImagesDamage from the global climate crisis has amounted to $391 million per day over the past two decades, a report showed. "We find that US$143 billion per year of the costs of extreme events is attributable to climatic change. The research, however, notes that there is an underestimation of the true costs of climate change due to the difficulty of measuring indirect losses. They called for an increase in adaptation policies to minimize these climate-change attributed costs, such as the building of flood protection or improving early warning signal systems heralding extreme weather events. "The planet is far off track from meeting its climate goals," the WMO said in a September report, adding that rising global temperatures have been accompanied by more extreme weather.

Persons: Al Zulkifli, —, Nargis, Fedja Grulovic, Spyros Bakalis, Yuki Iwamura Organizations: AFP, Getty, Nature Communications, International Federation of Red, Red Crescent Societies, Reuters, U.S . Federal Emergency Management Agency, World Meteorological Organization, WMO, Afp Locations: Ogan Ilir, South Sumatra, Indonesia, Myanmar, Europe, Russia, Somalia, Prevalje, Slovenia, Pournari, Magoula, Athens, Maui, Lahaina , Hawaii

[1/5] Bass-Baritone Gerald Finley and soprano Julia Bullock perform during an opera rehearsal "Antony and Cleopatra" at Gran Teatre del Liceu in Barcelona, Spain, October 18, 2023. REUTERS/ Albert Gea Acquire Licensing RightsBARCELONA, Oct 23 (Reuters) - Barcelona's opera house has hired an "intimacy director" to ensure performers are comfortable taking part in passionate scenes, in a first for Spain and a rarity for continental Europe. The role's creation comes after the #MeToo movement rocked the movie industry but also the opera world with sexual harassment accusations. Intimacy director Ita O'Brien will oversee William Shakespeare's adapted play, 'Antony and Cleopatra', which opens at Barcelona's Gran Teatre del Liceu opera house on Oct. 28. Lesca said there should be an intimacy director in every opera.

Persons: Gerald Finley, Julia Bullock, Antony, Cleopatra, Albert Gea, Ita O'Brien, William Shakespeare's, O'Brien, Adriana Bignagni Lesca, Charmian, Lesca, Luis Rubiales, Placido Domingo, Joan Faus, Aislinn Laing, Deborah Kyvrikosaios Organizations: Gran Teatre del Liceu, REUTERS, Rights, Gran Teatre del, HBO, Netflix, Thomson Locations: Gran, Barcelona, Spain, Rights BARCELONA, Europe, Gran Teatre del Liceu, United States, Britain, Spanish

☆ UK transport group Mobico's shares hit record low on profit warning
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Cuts annual profit forecastSuspends dividendsShares fall to record lowOct 12 (Reuters) - Mobico's (MCG.L) shares fell by a third to a record low on Thursday after the British transport company cut its annual profit forecast and suspended dividends, as high costs hit the group's efforts to improve profitability. The company, which changed its name from National Express to Mobico earlier this year, said it was planning to sell its North America school bus business in early 2024 to cut debt. The company was hit hard during the pandemic as lockdowns restricted travel and governments had to support transport operators. Mobico's school bus business in North America has faced high costs and labour shortages. "The profit warning just goes to show it takes more than a name change to prompt a recovery in a company's fortunes," Mould added.

Persons: Russ Mould, AJ Bell, Mobico, Mould, Radhika Anilkumar, Nivedita Bhattacharjee, Miral Fahmy, Sharon Singleton, Jane Merriman Organizations: National Express, North America, U.S, Stagecoach, Thomson Locations: British, North America, Britain, Europe, North Africa, Bengaluru

☆ China's consumer spending isn't roaring back to pre-pandemic levels yet
▼ + stars: | 2023-10-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China's consumer spending still isn't growing as fast as it did before the pandemic, analysts said. Retail sales for the Sept. 29 to Oct. 5 holiday period rose by 9% from a year ago, according to state media reports of Ministry of Commerce data. China's retail sales fell by 0.2% in 2022, according to official figures. In the Asia-Pacific region, Chinese spending on luxury goods has already recovered to 2019 levels, the report said. Consumer spending has lagged China's overall economic growth since the pandemic started in early 2020.

Persons: Kevin Frayer, Christine Peng, Christine Peng UBS, Peng, Imke Wouters, Oliver Wyman, Wouters Organizations: Getty, BEIJING, Ministry of Commerce, UBS, CNBC, Consumers, Christine Peng UBS UBS, HSBC Locations: Beijing, China, Hainan, Europe, Asia, Pacific, U.S

☆ Spain's PLD Space Counts Down to Test Rocket Launch From Europe
▼ + stars: | 2023-10-06 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

MADRID (Reuters) - Spanish startup PLD Space will attempt a test launch of its reusable Miura-1 rocket early on Saturday, spearheading a new generation of 'microlaunchers' after an aborted attempt in June. "The day has arrived," Raul Torres, PLD Space chief executive and co-founder of PLD Space, wrote on social media platform X, previously known as Twitter. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. PLD Space's Miura-1 rocket, named after a breed of fighting bulls, is as tall as a three-storey building and has a 100-kg (220-pound) cargo capacity. Competitors lining up to join the race to launch small payloads include companies in Scotland, Sweden and Germany.

Persons: Raul Torres, Space's Miura, Italy's Vega, Vega, Emma Pinedo, Tim Hepher, Tim Hepther, Aislinn Laing, Edmund Blair Organizations: Spanish, Space, Twitter, Virgin Orbit, Boeing, Ariane, European Space Agency Locations: MADRID, Huelva, Spain, Britain, Europe, Russia, Scotland, Sweden, Germany, Kourou, French Guiana

☆ Spain's PLD Space counts down to test rocket launch from Europe
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

PLD Space/Handout via REUTERS/File Photo Acquire Licensing RightsMADRID, Oct 6 (Reuters) - Spanish startup PLD Space will attempt a test launch of its reusable Miura-1 rocket early on Saturday, spearheading a new generation of 'microlaunchers' after an aborted attempt in June. The rocket is due to lift off on its suborbital test mission at 2 a.m Spanish time on Saturday (0000 GMT) from Huelva in southwest Spain, marking what its designers say will be Europe's first fully private rocket launch. "The day has arrived," Raul Torres, PLD Space chief executive and co-founder of PLD Space, wrote on social media platform X, previously known as Twitter. Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January. In July, the last launch of Europe's largest rocket, the premier Ariane 5 space launcher, took place at the European spaceport in Kourou, French Guiana.

Persons: Raul Torres, Space's Miura, Italy's Vega, Vega, Emma Pinedo, Tim Hepher, Tim Hepther, Aislinn Laing, Edmund Blair Organizations: REUTERS, Rights, Spanish, Space, Twitter, Virgin Orbit, Boeing, Ariane, European Space Agency, Thomson Locations: El, Huelva, Spain, Rights MADRID, Britain, Europe, Russia, Scotland, Sweden, Germany, Kourou, French Guiana

GUIDONIA MONTECELIO, Italy (AP) — The reachable par-4 16th at Marco Simone was designed to decide the Ryder Cup, and that’s exactly what happened. As he walked down to the amphitheater-like green, Fleetwood was serenaded with “Tommy, Tommy” chants by the massive crowd both lining the fairway and filling a three-story hospitality structure. While the next Ryder Cup that Europe hosts will be at Adare Manor in Ireland, Ryder Cup Europe seems intent on returning to the continent for 2031 or 2035, with interest from Austria and Spain. Attending their fifth Ryder Cup, Lyren and his wife, Betsy, wore American-flag themed red-white-and-blue overalls. “That’s kind of what we use it for.”Jessica and Eric Minor, a couple in their 40s, flew in from Dallas for their first Ryder Cup and enjoyed the fan craziness.

Persons: GUIDONIA MONTECELIO, Marco Simone, Rickie Fowler, Tommy Fleetwood, Fleetwood, Tommy, Tommy ”, Fowler, caddie, Rickie, ” Fleetwood, Dave Sampson, Tom Fazio, Jim Fazio ., Franco Chimenti, ”, Francesco Molinari, Marco Simone didn’t, “, Del Lyren, Lyren, Betsy, ” Jessica, Eric Minor, ” Jessica Minor, Guido Migliozzi, Filippo Celli, Molinari, Edoardo, ” Molinari Organizations: Fleetwood, Ryder, Golf Federation, Valderrama, Europe, Roman, St, Bethpage Locations: Italy, Europe, Rome, Spain, Paris, Adare Manor, Ireland, Austria, Golden Valley , Minnesota, Sorrento, Dallas, United States, U.S, Italian, Andrews, New York

☆ Profile of Europe Ryder Cup team
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +4 min

[1/2] Golf - The 2023 Ryder Cup - Marco Simone Golf & Country Club, Rome, Italy - September 26, 2023 Team Europe's Ludvig Aberg in action on the 3rd hole during a practice round ahead of the 2023 Ryder Cup REUTERS/Carl Recine Acquire Licensing RightsSept 26 (Reuters) - A brief look at the 12-man Europe Ryder Cup team that will face the U.S. in the biennial competition this week at Marco Simone Golf & Country Club in Rome. The first player to play in the Ryder Cup having never contested a major. MATT FITZPATRICK (England)Age: 29World ranking: 8Previous Ryder Cup appearances/points: 2, 0The 2002 U.S. Open champion has a lamentable Ryder Cup record having lost all five matches he contested in two appearances, both in the U.S. NICOLAI HOJGAARD (Denmark)Age: 22World ranking: 82Previous Ryder Cup appearances/points: NoneBack-to-back top five finishes in the final two events of European Ryder Cup qualification earned him a surprise pick. One of the longest hitters in the team, he is the second Austrian to play in the Ryder Cup.

Persons: Ryder, Marco Simone Golf, Europe's Ludvig Aberg, Carl Recine, LUDVIG ABERG, Luke Donald, MATT FITZPATRICK, TOMMY FLEETWOOD, Fleetwood, Donald, Francesco Molinari, TYRRELL HATTON, Hatton, NICOLAI HOJGAARD, Marco Simone, VIKTOR HOVLAND, SHANE LOWRY, Donald's, Will, ROBERT MACINTYRE, RORY MCILROY, JON RAHM, Rahm, JUSTIN ROSE, Rose, SEPP STRAKA, John Deere, Martyn Herman, Peter Rutherford Organizations: Country Club, Ryder, REUTERS, Europe Ryder Cup, PGA, European Ryder, U.S ., Continental Europe, Britain, Thomson Locations: Rome, Italy, U.S, Sweden, England, Europe, Paris, Denmark, Norway, Whistling Straits, Ireland, Northern Ireland, Spain, Austria, Austrian, London

1 Scottie Scheffler, were not even born the last time the Americans won a Ryder Cup on European soil. That was in 1993 at The Belfry, when Ryder Cup rookie Davis Love III made the cup-clinching putt. “I think one of the great accomplishments in our game now is to win an away Ryder Cup,” Rory McIlroy said. The PGA of America runs the Ryder Cup — not the tour — though the only access to Ryder Cup points for Americans was the majors. Missing from the European team for the first time since 1997 is Sergio Garcia, the leading scorer in Ryder Cup history.

Persons: Jordan Spieth, ”, Tommy Fleetwood of, Xander Schauffele’s, ’ ” Fleetwood, Marco Simone, LIV, Brooks Koepka, Scottie Scheffler, Davis Love, “, ” Scheffler, Tiger Woods, Phil Mickelson, Spieth, Dustin Johnson, we’ve, Zach Johnson, ” Rory McIlroy, it’s, ” McIlroy, —, Johnson, “ He’s, ” Johnson, Koepka, Henrik Stenson, Luke Donald, Ian Poulter, Sergio Garcia, Jon Rahm, Garcia, Donald, Nicolai Hojgaard, Ludvig Aberg, McIlroy, ” Marco Simone, ___ Organizations: Ryder, Team USA, U.S ., of Fame, U.S, ’, America, LIV, Europe, Valderrama, K Locations: Rome, Europe, Whistling Straits, Wisconsin, Saudi, U.S, France, Spain, Northern Ireland, Denmark, European, Ireland

☆ 'We don't think Germany is the sick man of Europe': Berenberg
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We don't think Germany is the sick man of Europe': BerenbergGerhard Orgonas, head of continental Europe mid cap research at Berenberg, discusses the German economy's recent struggles.

Persons: Berenberg Gerhard Orgonas Locations: Europe

LONDON, Sept 15 (Reuters) - Kristine Braden, CEO of Citigroup's main operations in continental Europe, is leaving the firm after 25 years as part of a wider organisational change announced by the U.S. bank earlier this week, according to an internal memo seen by Reuters. Braden was CEO of Citibank Europe and previously held a number of senior roles, including leading the Citigroup Global Markets Europe AG unit. The Wall Street firm this week announced a broad reorganization including stripping out a layer of management and cutting jobs to give CEO Jane Fraser more direct control as she seeks to simplify the structure and give a boost to the stock. Following the announcement of the reorganization, Citi managers are already convening discussions with employees about potential layoffs, which will most likely affect support staff in compliance and risk management, a source familiar with the situation told Reuters on Thursday. Reporting by Anousha Sakoui and Andres Gonzalez Editing by Elisa Martinuzzi, Dhara Ranasinghe and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristine Braden, Braden, Braden couldn't, Jane Fraser, Anousha Sakoui, Andres Gonzalez, Elisa Martinuzzi, Dhara Ranasinghe, Mark Potter Organizations: Reuters, Citibank Europe, Citigroup Global, Citi, Thomson Locations: Europe, U.S

☆ Europe's economy threatened by extreme heat, fires and floods
▼ + stars: | 2023-09-11 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —Mounting climate risks, illustrated by the extreme heat, wildfires and floods that ravaged parts of Europe this summer, could hurt the region’s economy as soon as this year, the European Commission warned Monday. In its latest economic forecast, the European Union’s executive arm downgraded its predictions for growth in the region in 2023 and 2024. But it added that there was “formidable uncertainty” over its latest forecast, with extreme weather among the “downside” risks. Construction and manufacturing are among other economic sectors vulnerable to extreme heat, said Owen at Saltmarsh Economics. Similarly to the European Commission, on Sunday the International Monetary Fund pointed to “grave risks to economic well-being” from climate change.

Persons: ” David Owen, Kyle Holland, Owen, Kristalina Georgieva Organizations: London CNN, European, European Travel Commission, CNN, Saltmarsh, Bank of Italy, Sunday, International Monetary, Group Locations: Europe, Czech Republic, Bulgaria, Ireland, Denmark, Italy, Greece, Spain, India

Nine of the 12-man American team played Marco Simone for the first time. It’s a great test and it’s a really, really good match-play golf course. ... (We're) going to utilize his wisdom and he’s passionate about (the Ryder Cup). He’s just not here physically.”Woods was a player on eight Ryder Cup teams and a vice captain in 2018. While the U.S. routed Europe at home in Whistling Straits two years ago, the Americans haven’t won the Ryder Cup on European soil in three decades.

Persons: Zach Johnson, Marco Simone, Brooks Koepka, LIV, Brooks, —, ’, ” Johnson, Koepka, “ Jordan Spieth, Xander Schauffele, Patrick Cantlay, ”, Johnson, Steve Stricker, Davis Love III, Jim Furyk, Fred Couples, Stewart Cink, There'll, it’s, He’s, ” Woods, haven’t, “ What’s, It’s, “ We’ve, …, ” Justin Thomas, “ JT, Thomas, “ It’s, ___ Organizations: ROME, U.S, Ryder Cup, Team USA, Ryder, Valderrama Locations: Rome, Saudi, Europe, Spain, France, U.S, Whistling Straits, Peter’s, Italy

☆ Opinion | A Progressive James Bond Is Proof of American Cultural Imperialism
▼ + stars: | 2023-09-06 | by ( Ross Douthat | ) www.nytimes.com time to read: +3 min

(The cruelty and neglect at these schools was real but the specific claims about graves at the B.C. school have outrun the so-far scanty evidence.) The first is a general tendency of provincial leaders to go overboard in establishing their solidarity and identification with the elites of the imperial core. The second point is the role of secularization and de-Christianization, which are further advanced in the British Isles and Canada than in the United States. Then the third point is that smaller countries with smaller elites can find it easier to enforce ideological conformity than countries that are more sprawling and diverse.

Persons: Ed West, it’s, tastemakers, Aris Roussinos, ” Organizations: Canadian, “, British Isles, Christianity’s, Republican, Laurentian Locations: Canada, British Columbia, British, Ottawa, London, Rome, Europe, United States, Britain, America, Westminster

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

☆ Polanski film 'The Palace' can't find distributors in US, Britain or France, producer says
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

[1/4] The 80th Venice Film Festival - Photocall for the film "The Palace" out of competition - Venice, Italy, September 2, 2023. REUTERS/Yara Nardi Acquire Licensing RightsVENICE, Sept 2 (Reuters) - The producer of Roman Polanski's latest movie, "The Palace", bemoaned the fact that no one wanted the distribution rights for the film in the United States, Britain and France, saying morality should not weigh on art. One of the most successful directors of his generation, Polanski fled the United States over a conviction for raping a 13-year-old girl in 1977, a crime he admitted. After the #MeToo movement gained global traction in 2017 following sexual abuse allegations against U.S. film producer Harvey Weinstein, a number of women alleged that Polanski had sexually assaulted them as teenagers as well. The producer Luca Barbareschi said he had sold distribution rights across continental Europe, but not in France, Britain or the United States, despite the fact well-known actors from all three countries appeared in the film.

Persons: Milan Peschel, Fortunato Cerlino, Fanny Ardant, Luca Barbareschi, Oliver Masucci, Joaquim de Almeida, Yara, Roman, Polanski, Harvey Weinstein, Mickey Rourke, John Cleese, Joaquim De Almeida, Barbareschi, Polanski's, Polanksi, Crispian Balmer, Ros Russell Organizations: REUTERS, U.S, Venice Film, Netflix, Golden, Thomson Locations: Venice, Italy, United States, Britain, France, Polish, Swiss, Europe, Australia, New Zealand

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