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LOS ANGELES (AP) — Las Vegas will be flooded with so many pre- Super Bowl events that Shaquille O'Neal lowered the prices to his popular carnival-themed “ Shaq's Fun House. “Las Vegas isn't ready for the show we're about to bring,” Big Boi said. The stars of the CBS show “The Neighborhood” will host the Super Bowl Soulful Celebration at the Palms Casino Resort on Wednesday night. MALUMA & SIRIUSXMColombian superstar Maluma will take his vibrant Latin music vibes into Las Vegas with the help of SiriusXM. ___More on the Super Bowl: https://apnews.com/hub/super-bowl
Persons: Shaquille O'Neal, O'Neal, We're, , He'll, Lil Wayne, Diplo, DJ Diesel, Rob Gronkowski, Michael Rubin, Beyoncé, Jay, Leonardo DiCaprio, Jennifer Lopez, Ben Affleck, Kendall Jenner, Rubin, Travis Scott, Meek, Lil Baby, Fabolous, Ludacris, Laroi, Mike, OutKast, Big Boi, Kevin Hart, Deon Cole, D.L, Desi Banks, Aida Rodriguez, Cedric, Tichina Arnold, Mary Mary, Kirk Franklin, Robin Thicke, Tully Banta, Cain, Bryan Scott, Arnold, , Nate Burleson, , DJ Afrojack, Gronkowski, BILLY IDOL, Billy Idol, Idol, he's stoked, Maluma, He's, Don Juan ”, “ COCO LOCO ”, David Guetta, Jack Harlow, Wynn, Zach Bryan, Tiësto, LIV, Savage, Guy Fieri, Leigh Steinberg Organizations: ANGELES, NBA, Fun, Wynn, Sports Illustrated's, Hamptons, Cosmopolitan, MADDEN, EA Sports, Madden, of, Madden NFL, Theatre, CBS, NFL, Super, Sunday, Location's, Touchdown Club, SIRIUSXM, Virgin Hotels, Pandora, Las, GQ, Nomad Library Locations: Las Vegas, Sin City, Encore, Atlanta, Hughley, Palms, British, Allegiant, Vegas, Fontainebleau
Security screeners began a one-day walkout on Thursday at 11 of Germany’s busiest airports, bringing departures to a virtual standstill, scuttling travel plans for an expected 200,000 people and adding to the chaos caused by public sector strikes. Airports serving Berlin, Hamburg, and Stuttgart canceled all of their departures in anticipation of the work stoppage, while others — including Frankfurt’s airport, the biggest in Germany — were trying to keep some flights in the air but warned of significant delays and cancellations. “The work of airport security staff must remain financially attractive so that the urgently needed skilled workers can be recruited and retained,” said Wolfgang Pieper, a lead negotiator for Verdi, the public sector union behind the strike. Screeners are demanding an hourly raise of 2.80 euros, or roughly $3, a 14 percent increase for a starting salary. The federal association of aviation security businesses, the B.D.L.S., which represents employers, called the demands “utopian.” It has offered a 4 percent increase this year, followed by a 3 percent rise next year.
Persons: screeners, Germany —, , Wolfgang Pieper, Verdi Organizations: Airports Locations: Berlin, Hamburg, Stuttgart, Frankfurt’s, Germany
Passenger train drivers in Germany walked off the job on Wednesday and vowed not to return for six days in a strike over working conditions and pay that is expected to halt most long-distance and commuter rail travel across the country. The strike, one of the most significant on the national rail service in years, was announced on Monday by Claus Weselsky, the chairman of the G.D.L., a union that represents German train drivers. The rail strike, the fourth in two months, comes amid a risk of reduced funding for the rail system after a court decision that stopped the government from repurposing money from a coronavirus pandemic fund for green projects. It also comes amid a trend of worsening performance of German trains. Drivers of cargo trains started the strike on Tuesday evening.
Persons: Claus Weselsky, Weselsky, Chancellor Olaf Scholz Organizations: Deutsche Bahn Locations: Germany
New networks by Dish (DISH.O) and Japan's Rakuten (4755.T) use Open RAN. "All of the new equipment that we are going to be putting out will be Open RAN capable," Chris Sambar, president of AT&T Network, told Reuters. Winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share, the company said. AT&T will still have contracts which other Open RAN vendors outside this deal. AT&T expects fully integrated Open RAN sites operating in coordination with Ericsson and Fujitsu (6702.T), starting in 2024.
Persons: Brendan McDermid, Japan's Rakuten, Chris Sambar, Sambar, You've, Supantha Mukherjee, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Rights, Ericsson, Nokia, Huawei, Telefonica, Vodafone, RAN, AT, T Network, Reuters, Samsung, Verizon, U.S ., Fujitsu, Thomson Locations: New York, U.S, ORAN, United States, Stockholm
The blue-chip FTSE 100 (.FTSE) index dipped 0.1%, while the pan-European STOXX 600 (.STOXX) rose 0.5%. The life insurance sector (.FTNMX303010) fell 0.4%, with Prudential (PRU.L) slipping 0.7% after Deutsche Bank reduced its price target on the stock. Banks (.FTNMX301010) slipped 1.7% following a 2.3% fall in HSBC (HSBA.L), which was the biggest weight on the FTSE 100. Among individual stocks Halfords Group (HFD.L) plunged 21.1% after the bicycles-to-car parts retailer narrowed its annual profit forecast range. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.
Persons: Toby Melville, Andrew Bailey, BoE Governor Andrew Bailey, Eddie Cheng, Banks, Shashwat Chauhan, Dhanya Ann Thoppil, Eileen Soreng Organizations: London Stock Exchange Group, REUTERS, Aviva, Bank of England, Prudential, Deutsche Bank, U.S . Federal Reserve, Allspring Global Investments, HSBC, Halfords, Thomson Locations: City, London, Britain, Europe, United States, Bengaluru
REUTERS/Joe Skipper/File Photo Acquire Licensing RightsNov 16 (Reuters) - Amazon.com (AMZN.O) said on Thursday its two prototype satellites for its planned Kuiper internet network have been operating successfully in orbit, with the project on track to start launching operational satellites by mid-2024. The Kuiper internet network is set to compete against billionaire Elon Musk's Starlink, the world's largest satellite operator, to offer broadband internet service globally to consumers, companies and governments. Amazon said it used the prototype satellites for brief two-way video calls, streaming a high-definition movie on Prime Video and ordering items off Amazon's website. Badyal declined to say how many satellites Amazon would launch per rocket. The Boeing-Lockheed joint venture United Launch Alliance is set to loft the first several batches of Kuiper satellites aboard its Atlas 5 and the company's upcoming Vulcan rocket.
Persons: Joe Skipper, Elon Musk's Starlink, Rajeev Badyal, Badyal, Jeff Bezos, Joey Roulette, Zaheer Kachwala, Tasim Zahid, Will Dunham Organizations: United, Alliance, Cape Canaveral Space Force, REUTERS, United Launch Alliance, U.S . Federal Communications Commission, Reuters, Vodafone, Verizon, Amazon, Boeing, Lockheed, Vulcan, SpaceX, Thomson Locations: Cape Canaveral , Florida, U.S, Florida, New York, Bengaluru
The screening of “Israelism” at Hunter had been planned since June, according to Tami Gold, a professor in the film and media department who organized the screening. “Otherwise, there was no safety or security issue prior to Oct. 7,” he said. Since then, some venues have asked to postpone, and a screening at Grinnell College in Iowa was canceled. There is never a time to air this film, but especially not at a time when the A.D.L. On Friday, Anderson and Gold said, they were approached by the dean, Andrew Polsky, about security issues.
Persons: , Hunter, Tami Gold, Simone Zimmerman, Eitan, Cornel West, Jeremy Ben, Ami, Abraham H, Foxman, Daniel J, Chalfen, ” Kelly Anderson, It’s, “ It’s, Anderson, Gold, Andrew Polsky, Polsky, , Kirschner, DiMiceli, ” Anderson, ” Marc Tracy Organizations: West Bank, Jewish, Defamation League, University of California, Grinnell College, Facebook Locations: Israel, Los Angeles, Iowa
UK's Landsec expects rents to counter lower building valuations
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +1 min
Nov 14 (Reuters) - British commercial property company Land Securities Group (LAND.L) expects between low and mid single-digit percentage growth in annual London rental values despite continued pressure on building valuations. Valuations have been hit by high interest rates, hurting investment business within the sector and offsetting relatively better performance on the operational front. Landsec, which in May said it would invest more in prime retail space buoyed by a positive outlook for that portfolio, expects earnings per share for the full year to be broadly stable compared with last year's 50.1 pence. Central London accounts for about two thirds of Landsec's property portfolio. Its half-year pretax loss deepened by 0.5% to 193 million pounds ($237.3 million), hurt by declining property valuations.
Persons: Mark Allan, Aby Jose Koilparambil, Rashmi Aich, David Goodman Organizations: Land Securities Group, FTSE, Thomson Locations: London, Central London, Mayfield, Manchester, Bengaluru
Vodafone reports Q2 improvement after Germany returns to growth
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Nov 14 (Reuters) - Telecoms company Vodafone (VOD.L) reported an acceleration in service revenue in the second quarter on Tuesday after Germany, its biggest market, returned to growth. It reported a 4.2% rise in group service revenue for the six months to the end of September, with both Europe and Africa up, and 0.3% higher adjusted core earnings, a rise limited by higher energy costs. Chief Executive Margherita Della Valle said Vodafone had delivered improved revenue growth in nearly all of its markets in the first half of its financial year. "Our focus on customers and simplifying our business is beginning to bear fruit, although much more needs to be done," she said. ($1 = 0.9346 euros)Reporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.
Persons: Margherita Della Valle, Paul Sandle, Kate Holton Organizations: Vodafone, British, Thomson Locations: Germany, Europe, Africa
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Following the data, yields on short-term UK Gilts, reflecting near-term interest rate expectations, slid, aiding a 7.0% surge in rate sensitive real estate investment trusts (.FTNMX351020). "It may well be due to potential sentiment coming ahead of tomorrow's UK CPI data, with the hope that it comes in lower as well," said Christopher Peters, trading floor manager at Accendo Markets. UK October CPI data, due on Wednesday, could throw further light on the outlook for domestic monetary policy. Reporting by Khushi Singh and Johan M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Toby Melville, Christopher Peters, Jefferies, Tim Clark, Khushi Singh, Johan M Cherian, Sherry Jacob, Phillips, Alex Richardson Organizations: London Stock Exchange Group, City of, REUTERS, Vodafone, Federal, tomorrow's, Accendo Markets, Investors, Entain, Royce, Emirates, Thomson Locations: City, City of London, Britain, Teck, U.S, Italy, Bengaluru
South Africa's Vodacom half-year profit hit by Ethiopia costs
  + stars: | 2023-11-13 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, Nov 13 (Reuters) - South Africa's biggest telecoms operator Vodacom (VODJ.J) reported a 4.2% drop in half-year earnings on Monday, hit by the cost of starting operations in Ethiopia and higher interest rates. The company, which is majority owned by Britain's Vodafone (VOD.L), co-launched Safaricom Ethiopia last year, betting that the populous nation will power growth after about five years of investment. Group CEO Shameel Joosub said Safaricom Ethiopia has already reached 4.1 million customers and more recently it launched its mobile financial services business M-Pesa there. Group service revenue grew 42.2% to 59.3 billion rand ($3.16 billion), thanks to the acquisition of Vodafone Egypt and rand depreciation against its basket of international currencies. Excluding the contribution of Vodafone Egypt, group service revenue growth was 7.9% or 4.1% on a normalised basis, supported by a resilient performance in South Africa, the operator said.
Persons: Shameel Joosub, Nqobile Dludla, Jacqueline Wong Organizations: Africa's, Vodacom, Britain's Vodafone, Vodafone, Thomson Locations: JOHANNESBURG, Ethiopia, Vodafone Egypt, South Africa
The slogan reflects the geography of that original claim: Israel spans the narrow stretch of land between the Jordan River and the Mediterranean Sea. Gaza’s health ministry, which is run by Hamas, says that more than 10,000 Palestinians have been killed in Israeli strikes since. “It is an antisemitic charge denying the Jewish right to self-determination, including through the removal of Jews from their ancestral homeland,” according to the Anti-Defamation League. Does it preclude the fact that the Jewish population in the area between the sea and the river cannot also be free? Likud has since dropped the phrase, though the party has opposed a two-state solution in which Palestinians would have a recognized state alongside Israel.
Persons: , Maha Nassar, , , it’s, Tlaib, Israel —, Peter Beinart, Beinart, ” Ahmad Khalidi, Mr, Khalidi, Benjamin Netanyahu, Jordan Organizations: Palestinian Authority, West Bank, University of Arizona, Defamation, City University of New, Oxford University, Likud, Israel Locations: Israel, Jordan, Gaza, Palestine, , Palestinian, Oslo Accords, City University of New York
REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies Real estate shares top losersMelrose surges after unit signs deal with GE AerospaceFTSE 100 down 0.1%, FTSE 250 off 0.4%Nov 6 (Reuters) - UK stocks inched lower on Monday led by a drop in shares of real estate investment trusts, while investors awaited key economic data to assess the strength of the British economy. The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap index FTSE 250 (.FTMC) fell 0.4% after logging its best week in a year on Friday. Shares of real estate investment trusts (.FTNMX351020) shed 1.2% after the index tracking real estate stocks rose sharply last week. Other economic data this week includes housing prices, construction and services activity for October. Reporting by Shubham Batra in Bengaluru; Editing by Varun H K and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.
Persons: Toby Melville, Sanjay Raja, Andrew Bailey, Shubham Batra, Varun, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, Real, Melrose, GE Aerospace FTSE, Aerospace, Melrose Industries, GKN Aerospace, GE Aerospace, Deutsche Bank, Bank of England, Wizz, Ryanair, JD Sports, Citigroup, Thomson Locations: City, City of London, Britain, Irish, Bengaluru
Vodafone to sell Spanish arm to Zegona for $5.30 bln
  + stars: | 2023-10-31 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Oct 31 (Reuters) - Vodafone (VOD.L) will sell its struggling Spanish business to Zegona Communications (ZEG.L) for 5 billion euros ($5.30 billion), it said on Tuesday, in the British firm's second major transaction this year. Vodafone said it would receive at least 4.1 billion euros in cash. It will also provide 900 million euros in financing in the form of preference shares redeemable no later than six years after closing. Vodafone ranks third in Spanish telecoms after Telefonica and Orange. Zegona's Chairman and CEO Eamonn O'Hare said he was "very excited" about the opportunity to return to the Spanish telecomsmarket.
Persons: Margherita Della Valle, Britain's, Della Valle, Eamonn O'Hare, Yadarisa, Paul Sandle, Subhranshu Sahu, Kate Holton Organizations: Vodafone, Zegona Communications, Vodafone's, Telefonica, British, Zegona's, Thomson Locations: British, Spain, Orange, Spanish, Telecable, Bengaluru, London
Vodafone will struggle to get clean exit in Spain
  + stars: | 2023-10-30 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Toby Melville Acquire Licensing RightsLONDON, Oct 30 (Reuters Breakingviews) - Vodafone’s (VOD.L) boss Margherita Della Valle is cleaning up the sprawling 21 billion pound telecom group, but it’s a tough job. A potentially messy exit in Spain illustrates the point. Della Valle lacks an obvious partner in the country: local giant Telefónica (TEF.MC) is too big, while rivals Orange (ORAN.PA) and MásMóvil are merging with one another. As a result, Vodafone may have found itself a potentially problematic counterparty for the Spanish business, which Della Valle has put under strategic review. Investors might be reassured that Della Valle is making things happen, but a clean break in Spain looks increasingly unlikely.
Persons: Toby Melville, Margherita Della Valle, Della Valle, Eamonn O’Hare, Expansión, Zegona, Pamela Barbaglia, Liam Proud, Streisand Neto Organizations: Vodafone, REUTERS, Reuters, Orange, Zegona Communications, Virgin Media, Bloomberg, Deutsche Bank, ING, Reuters Graphics Reuters, X, Thomson Locations: London, Britain, Spain
Telefonica and Liberty Global have been working with advisers on the sale of up to half of their combined 50% stake in Cornerstone. Vodafone (VOD.L) owns the rest of the business through its Frankfurt-based subsidiary Vantage Towers (VTWRn.H). Spokespeople for Telefonica, Liberty Global, Virgin Media O2 and GLIL declined to comment. Cornerstone, established in 2012, is Britain's largest tower company, managing more than 20,000 sites, according to the company's website. In recent years infrastructure and private equity investors have competed for slices in some of the largest tower deals, including Deutsche Telekom's sale of a majority stake in GD Towers, because of their stable cash yield and long-term contracts.
Persons: Phil Noble, Amy, Jo Crowley, Andres Gonzalez, Paul Sandle, Helen Popper Our Organizations: REUTERS, Virgin Media O2, Liberty Global, Telefonica, Cornerstone, Vodafone, Deutsche, GD, Thomson Locations: Blackpool, Britain, Frankfurt
EU’s best way to close its US growth gap: growth
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +2 min
BRUSSELS, Oct 26 (Reuters Breakingviews) - The European Union would have a better chance of catching the U.S. if it aimed for growth, instead of rearranging the regulatory deck chairs. Lowering political barriers in the 27-country single market could boost investment without breaking the bank on subsidies, Jean-François van Boxmeer told Breakingviews, citing a new European Round Table for Industry report. In the telecommunications sector, the European Commission has kept four providers in most of the EU’s markets, and screens out Chinese equipment-makers over security concerns. The European Commission reckons completing the single market by 2030 would hike EU GDP by 12%, or 713 billion euros. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: François van Boxmeer, Breakingviews, van Boxmeer, Jacob Wallenberg, Rebecca Christie, George Hay, Streisand Neto Organizations: Reuters, European, Vodafone, Reuters Graphics Business, EU, European Commission, Investor, X, News Corp, Thomson Locations: BRUSSELS
[1/3] The logo of French telecom operator Orange is pictured in Brussels, Belgium May 22, 2023. Orange and MasMovil plan to divest spectrum, a customers unit and a brand as well as offer Digi access to infrastructure, the people said. Digi has expanded rapidly in the Spanish market since it launched operations there in 2008. It had more than 5.7 million customers at the end of the first half of 2023. ($1 = 0.9440 euros)Reporting by Foo Yun Chee Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Yves Herman, MasMovil, Orange, Foo Yun, Mark Potter Organizations: REUTERS, Rights, Orange, Regulators, European Commission, EU, Telefonica, Vodafone, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Spain, Spanish
UK mobile operator EE eyes growth with new retail platform
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Oct 18 (Reuters) - EE, Britain's biggest mobile operator, on Wednesday announced the launch of a sales platform called EE ID that will offer gaming consoles and other electronics to its customers and others. In Britain's mature mobile market, where EE, owned by UK telecoms giant BT (BT.L), competes with VM O2, Vodafone (VOD.L) and Three, mobile network providers are hunting for new ways to grow. EE, which is already Britain's largest retailer of smartphones and has 25 million customers many on monthly deals, said the new platform will sell gaming consoles, tablets, upgrade packages and subscriptions to existing EE customers plus the rest of the market. EE ID will also offer customers cyber security, home security and insurance products for electronics, said Christian Thrane, EE's managing director of marketing. EE's push to add consumer revenue comes at a time of proposed consolidation in Britain's mobile market.
Persons: Marc Allera, Christian Thrane, CK Hutchison, Sarah Young, Sachin Ravikumar Organizations: Wednesday, BT, VM O2, Vodafone, Apple TV, Reuters, CK, HK, Thomson
Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Executives from Vodafone (VOD.L) and CK Hutchison's (0001.HK) Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up. Vodafone and Three UK have pledged to invest 11 billion pounds to build a 5G network for Britain as part of their bid to secure backing from politicians, unions and competition authorities for the merger announced in June. They warned that without the deal, Britain's 5G network would continue to lag that of other European nations. "Neither us nor Vodafone can invest sufficiently to build the type of 5G network that's needed," Three's Chief Technical Officer David Hennessy said.
Persons: Toby Melville, CK Hutchison's, Nicki Lyons, David Hennessy, Stephen Lerner, Sarah Young, Mark Potter Organizations: Vodafone, REUTERS, HK, Trade, VM O2, Telefonica, Liberty Global, Thomson Locations: London, Britain
REUTERS/Nacho Doce/File photo Acquire Licensing RightsMADRID, Oct 9 (Reuters) - U.S.-based buyout fund Apollo Global Management is readying a bid with local fund JB Capital for the Spanish unit of telecom giant Vodafone (VOD.L), the Expansion newspaper reported on Monday citing unidentified sources with knowledge of the matter. The news about a potential bid comes three weeks after British telecom investment company Zegona (ZEG.L) said it was in talks with Vodafone to buy the Spanish unit. Vodafone CEO Margherita Della Valle launched a strategic review of the Spanish unit earlier this year. Vodafone is one of the three largest telecom operators in Spain together with Telefonica (TEF.MC) and the local unit of France's Orange (ORAN.PA). Apollo and JB Capital did not immediately respond to requests for comment.
Persons: Nacho, Margherita Della Valle, Inti Landauro, Jason Neely Organizations: Vodafone, Congress, REUTERS, Rights, Apollo Global Management, JB Capital, Spanish, Telefonica, Thomson Locations: Barcelona, Spain, Rights MADRID
Vodafone to create Open RAN chip sets with Intel
  + stars: | 2023-10-09 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - Vodafone (VOD.L) underlined its commitment to Open RAN networks on Monday by confirming it would create purpose-built chipset architecture for the nascent technology with Intel (INTC.O). Open RAN allows mobile operators to mix and match equipment from various suppliers, potentially increasing flexibility. Vodafone agreed in 2022 to work with U.S. chipmaker Intel on the potential to design its own chip architecture. Vodafone and Orange said on Monday they had successfully made 4G calls over a cluster of sites in a rural area near Bucharest based on Open RAN technology. In Italy, Vodafone said a pilot with Nokia aimed to prove that Nokia's Open RAN solution could achieve the same functionality and performance as its purpose built RAN.
Persons: Toby Melville, Santiago Tenorio, Tenorio, Paul Sandle, Sharon Singleton Organizations: Vodafone, REUTERS, Intel, RAN, Nokia, Ericsson, Huawei, Orange, Samsung, Thomson Locations: London, Britain, Romania, Italy, Malaga, Spain, Madrid, Bucharest, Dell
REUTERS/Siphiwe Sibeko/File Photo Acquire Licensing RightsJOHANNESBURG, Oct 6 (Reuters) - South Africa's first virtual electricity transfer model is likely to go live by end of next year, a top government official said on Friday, a move that could rapidly ramp up renewable power consumption and reduce the burden on ailing state utility Eskom. The utility in August signed an agreement with Vodacom (VODJ.J), the African telecoms arm of Vodafone (VOD.L), to introduce an electricity transfer model known as virtual wheeling, which will allow a consumer to buy renewable power from any producer anywhere in the country. This is expected to make power from large renewable producers available to smaller users such as standalone buildings, housing societies and factories. "What we're trying to resolve really is to ensure that we protect the South African economy from total collapse," Minister of Electricity Kgosientsho Ramokgopa said during a conference. Vodacom's South Africa Chief Executive Sitho Mdlalose told Reuters this would help it to run its 15,000 network sites on renewable power.
Persons: Sun, Siphiwe, Ramokgopa, Onicah Rantwane, Sitho Mdlalose, Nqobile, Promit Mukherjee, Kirsten Donovan Organizations: Kendal Power, REUTERS, Rights, Vodacom, Vodafone, Electricity, Eskom, Reuters, Thomson Locations: Kendal, Witbank, Mpumalanga, South Africa, Rights JOHANNESBURG
People visit the Nike store at 5th Avenue during the holiday season in New York City, U.S., December 9, 2022. The company had turned to steep discounting to clear the excess inventory, which had weighed on its margins in the past few quarters. Nike on Thursday estimated a 100 basis point boost to current-quarter gross margin while maintaining its annual forecasts. The jump also lifted shares of Adidas, Puma and JD Sports (JD.L) between 5%-7%. Still, demand in North America remained under pressure, leading Nike to post a slight miss on first-quarter revenue.
Persons: Eduardo Munoz, Drake MacFarlane, David Swartz, Simeon Siegel, Piper Sandler, Abbie Zvejnieks, Savyata Mishra, Deborah Sophia, Sriraj Organizations: Nike, REUTERS, Science, Rivals, Adidas, Puma, Morningstar, BMO, JD Sports, Dick's Sporting, Thomson Locations: New York City, U.S, China, North America, Bengaluru
LONDON, Sept 27 (Reuters) - London's embattled office market is in 'rental recession' as volumes of empty space across the capital's West End, City and Canary Wharf business districts hit a 30-year high, analysts at Jefferies said on Wednesday. Utilisation has shrunk and landlords are losing pricing power as tenants offload surplus space," the analysts said. Jefferies estimated West End vacancies of 7%, with rates in the City and Canary Wharf at 10% and more than 20% respectively, with the tipping point for a rental recession historically around 8%. Long-term Canary Wharf resident HSBC (HSBA.L) recently announced it would be relocating to the City but is expected to lease 30% less space at its new home, according to the note. "Investment market liquidity is receding on rent uncertainty and squeezing developer profits," the note said.
Persons: Jefferies, Derwent, Segro, Morgan Stanley, Sinead Cruise, Iain Withers Organizations: Securities, Portland Estates, Royal, Barclays, JPMorgan, HSBC, Investment, Thomson Locations: City, Canary Wharf, London, Canary, Wharf
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