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☆ Germany's Volkswagen shares tumble after margin downgrade
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

The logo of German carmaker Volkswagen is seen on a rim cap in a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir/File Photo Acquire Licensing RightsOct 23 (Reuters) - Volkswagen (VOWG_p.DE) shares fell to their lowest since April 2020 on Monday after the German carmaker cut its profit margin outlook for the current year, disappointing some investors. Volkswagen kept its outlook for deliveries and sales. Volkswagen shares fell 2.9% in Frankfurt by 0732 GMT, leading fallers across the European auto sector (.SXAP), which was down 0.5%. Reporting by Danilo Masoni, editing by Alun JohnOur Standards: The Thomson Reuters Trust Principles.

Persons: Francois Lenoir, Danilo Masoni, Alun John Organizations: Volkswagen, REUTERS, Thomson Locations: Brussels, Belgium, Frankfurt

☆ EU, US could agree on critical minerals despite steel failure, says France
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Francois Lenoir/File photo Acquire Licensing RightsVALENCIA, Spain, Oct 20 (Reuters) - The European Union and the United States could reach a deal on critical minerals over the coming weeks or months despite their failure to agree an accord on steel and aluminium, French Trade Minister Olivier Becht said on Friday. The discussions were intense and I hope they will restart as soon as possible," Becht said before an EU ministers' meeting on trade in Valencia, Spain. "It's in both the interest of Europe and the United States to have this agreement," Becht said. The United States has suspended import tariffs on EU steel and aluminium imposed by then-President Donald Trump in 2018, but on condition both sides agree measures to address overcapacity in non-market economies such as China, and promote greener steel. Reporting by Belén Carreño; editing by Philip Blenkinsop and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Pence, Francois Lenoir, Olivier Becht, Joe Biden's, Becht, Donald Trump, Belén, Philip Blenkinsop, Barbara Lewis Organizations: European Commission, REUTERS, Rights, European Union, French Trade, EU, Trump, U.S, United, Washington, World Trade Organization, Thomson Locations: Brussels, Belgium, Rights VALENCIA, Spain, United States, Valencia, Europe, China

☆ Consumer finance group seeks more privacy in digital euro use
▼ + stars: | 2023-10-03 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

A sculpture of Euro symbol is pictured in front of the European Parliament in Brussels, Belgium, May 2, 2018. REUTERS/Francois Lenoir/File Photo Acquire Licensing RightsLONDON, Oct 3 (Reuters) - Tougher privacy safeguards are needed for using a digital euro online, consumer lobby Finance Watch said on Tuesday, in the latest sign of mounting "Big Brother" concerns policymakers are having to confront. Finance Watch said it accepted that some concessions would have to be made to ensure a digital euro is not used for money-laundering, making full, cash-like anonymity of digital payments difficult to achieve. Nevertheless, as drafted, the proposed EU law gives higher levels of privacy to offline use of a digital euro stored in a customers "wallet", Finance Watch said. "While the proposed approach to offline transactions goes a long way towards offering cash-like privacy, a higher level of privacy and data protection should also be applied to small, low-value online transactions," Finance Watch said.

Persons: Francois Lenoir, Mairead McGuinness, Huw Jones, Mark Potter Organizations: REUTERS, Finance, European Central Bank, Federal Reserve, Bank of England, European Commission, Finance Watch, Big Tech, EU, The Bank of England, Thomson Locations: Brussels, Belgium, EU

☆ 'Pipigate' peeing scandal puts Belgian minister in hot water
▼ + stars: | 2023-09-07 | by ( Geert De Clercq | ) www.reuters.com time to read: +2 min

Vincent Van Quickenborne talks to the media as he arrives at a budgetary control meeting in Brussels October 17, 2012. At a parliament hearing, Van Quickenborne apologised and said he had not been aware of the incident the night it happened. Van Quickenborne has round-the-clock protection following a failed attempt to kidnap him last year. Van Quickenborne said he had no access to police video, but in parliament he played footage of cameras at his house. Opposition politicians blasted Van Quickenborne.

Persons: Vincent Van Quickenborne, Francois Lenoir, Vincent Van Quickenborne's, Van Quickenborne, Geert De Clercq, Josie Kao Organizations: REUTERS, Rights, Thomson Locations: Brussels, Rights BRUSSELS, Belgium, Belgian

☆ Twenty-four central banks will have digital currencies by 2030 - BIS survey
▼ + stars: | 2023-07-10 | by ( Karin Strohecker | ) www.reuters.com time to read: +3 min

Central banks around the globe have been studying and working on digital versions of their currencies for retail use to avoid leaving digital payments to the private sector amid an accelerating decline of cash. Most of the new Central Bank Digital Currencies (CBDCs) will emerge in the retail space, where eleven central banks could join peers in the Bahamas, the Eastern Caribbean, Jamaica and Nigeria which already run live digital retail currencies, the BIS found in its survey of 86 central banks conducted late 2022. On the wholesale side, which in future could allow financial institutions to access new functionalities thanks to tokenisation, nine central banks could launch CBDCs, the BIS said. "Enhancing cross-border payments is among the key drivers of central banks' work on wholesale CBDCs," the authors of the report wrote. Pilot testing in China now reaches 260 million people and two other big emerging economies, India and Brazil, plan to launch digital currencies next year.

Persons: Francois Lenoir, CBDC, Karin Strohecker, Mark Potter Organizations: REUTERS, Francois Lenoir LONDON, Bank for International Settlements, Central Bank Digital, BIS, Swiss National Bank, European Central Bank, Silicon Valley Bank, Signature Bank, Thomson Locations: Brussels, Belgium, Bahamas, Eastern Caribbean, Jamaica, Nigeria, China, India, Brazil, Silicon, stablecoins

[1/7] Top ranking official attendees of the NATO summit pose for a family picture in Bucharest April 3, 2008. And officials often cite the Bucharest declaration as a reference point. The parallels with the 2008 summit, held in the colossal Parliament Palace commissioned by Romanian communist dictator Nicolae Ceausescu, have struck many NATO-watchers. But others argue that promising Ukraine NATO membership after the war could encourage Putin to keep the conflict going. They say the Bucharest declaration in fact prompted Putin to test Western Ukrainian militarily in both Ukraine and Georgia.

Persons: Francois Lenoir, Volodymyr Zelenskiy, Dmytro Kuleba, Nicolae Ceausescu, Orysia, Zelenskiy, Vladimir Putin, Putin, ”, Timothy Sayle, Andrew Gray, Kevin Liffey Organizations: NATO, REUTERS, Kyiv, Ukrainian, Chatham House, Russia, Ukraine NATO, University of Toronto, Thomson Locations: Bucharest, VILNIUS, Vilnius, Ukraine, Georgia, U.S, United States, France, Germany, Russia, Moscow, Soviet Union, NATO, Romanian, Russian, Eastern, Ossetia, Tbilisi, Crimea, Ukraine's

☆ Still dreaming Correa has sights set on Formula One
▼ + stars: | 2023-06-29 | by ( Steve Keating | ) www.reuters.com time to read: +4 min

[1/4] Formula One F1 - Belgian Grand Prix - Spa-Francorchamps, Spa, Belgium - August 27, 2020 Juan Manuel Correa visits the place where he was injured in an accident in a Formula 2 race last year that also killed Anthoine Hubert. "Before the accident I sort of felt if I didn't make it to F1 my life would be ruined," Correa told Reuters in a phone interview. In what has been a career reboot, Correa said the focus needed to get back on the track had made him stronger mentally. There is no looking into the rear view mirrors for Correa, only what is ahead and he sees a path to Formula One. But I am convinced I have what it takes to succeed in Formula One.

Persons: Juan Manuel Correa, Anthoine Hubert, REUTERS, Francois Lenoir, Hubert, Correa, Spielberg, Niki Lauda, Robert Kubica, Billy Monger, Robert Wickens, Steve Keating, Ken Ferris Organizations: Belgian, Prix, American, Van Amersfoort, Austria, Reuters, Formula, British, IndyCar, Monaco, Forever Warriors, One, Thomson Locations: Spa, Belgium, Eau Rouge, Ecuador, Toronto

☆ UAW rips Biden administration on US loan to Ford joint venture battery plant
▼ + stars: | 2023-06-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The $9.2 billion low-cost government loan for the BlueOval SK joint venture is the biggest ever from the government auto lending program that will help finance construction of three plants in Kentucky and Tennessee. The joint venture is building battery plants in Kentucky and Tennessee. The UAW and Senator Bernie Sanders in April criticized a General Motors (GM.N)/LG Energy Solution (373220.KS) joint venture battery plant for paying workers much less than GM assembly plant employees even though it benefits from hefty U.S. government tax credits. Union workers at a nearby Ohio GM assembly plant that closed in 2019 made at least $32 an hour. The Energy Department last year awarded $2.5 billion to help finance construction of Ultium's new lithium-ion battery plants, including Warren, from the same program used for the Ford loan.

Persons: Francois Lenoir, Shawn Fain, Fain, Joe Biden’s, Ford, Biden, Bernie Sanders, Warren, David Shepardson, Aurora Ellis, Mark Porter Organizations: Ford, REUTERS, United Auto Workers, UAW, U.S . Energy Department, Ford Motor, Korea's SK, JV, Detroit Three automakers, BlueOval SK, SK, South Korea's SK Innovation, Motors, LG Energy, JV Ultium, Ohio GM, The Energy Department, Thomson Locations: Brussels, Belgium, Francois Lenoir WASHINGTON, Kentucky, Tennessee, South, America, Warren , Ohio, Ohio

☆ Budweiser maker's profit jumps as customers absorb higher prices
▼ + stars: | 2023-05-04 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

[1/3] Bottles of non-alcoholic beer and dishwasher soap are pictured at Anheuser-Busch InBev brewery in Leuven, Belgium November 25, 2019. The maker of Budweiser, Stella Artois and Corona repeated its 2023 forecast that core profit (EBITDA) would grow in line with its medium term outlook of between 4% and 8%, with revenue to grow ahead of EBITDA. He said AB InBev would invest more in Bud Light over the summer. First-quarter results of AB InBev's rivals Heineken and Carlsberg also showed consumer willingness to absorb higher prices. AB InBev's core profit rose by 13.6% on a like-for-like basis to $4.76 billion, compared with the 5.6% average increase expected in a company-compiled poll.

☆ AB InBev profit jumps as consumers absorb higher beer prices
▼ + stars: | 2023-05-04 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

[1/3] Bottles of non-alcoholic beer and dishwasher soap are pictured at Anheuser-Busch InBev brewery in Leuven, Belgium November 25, 2019. REUTERS/Francois LenoirSummarySummary Companies Q1 core profit up 13.6% vs consensus 5.6%Beer volumes up 0.4%, buoyed by ChinaRetains 2023 forecast of 4-8% core profit riseBRUSSELS, May 4 (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's largest brewer, reported higher than expected first-quarter earnings on Thursday as consumers bought its beers at sharply higher prices. Revenue, however, rose sharply, as the company pushed through price increases and some consumers switched to more expensive beers or package formats. First-quarter results of AB InBev's rivals Heineken and Carlsberg also showed consumer willingness to absorb higher prices. AB InBev's core profit rose by 13.6% on a like-for-like basis to $4.76 billion, compared with the 5.6% average increase expected in a company-compiled poll.

☆ Turkey plans to ratify Finland's NATO bid ahead of May polls -sources
▼ + stars: | 2023-03-15 | by ( Orhan Coskun | ) www.reuters.com time to read: +3 min

Amid growing tensions with Sweden, Turkish President Tayyip Erdogan signalled for the first time in January that Ankara could give a green light to Helsinki ahead of Stockholm. "It is highly likely that the necessary step for Finland's NATO membership will be completed before (parliament) closes and the election is held," the official said. Turkish President Tayyip Erdogan indicated that he would send ratification of Finland's NATO membership to parliament soon, saying that he would "keep his promise". After that, we will fulfil our promise," Erdogan told reporters on Wednesday, when asked whether he would send ratification of Finland's NATO bid to Turkish parliament next week. "Positive messages will be given to Finland's president during his visit," the second official said.

☆ Turkey plans to ratify Finland's NATO bid ahead of May polls, sources say
▼ + stars: | 2023-03-15 | by ( Orhan Coskun | ) www.reuters.com time to read: +4 min

A senior Turkish official told Reuters that Finland's bid would be approved independently from that of Sweden. Niinisto, who will visit Turkey on March 16-17, said he believed Turkish President Tayyip Erdogan will give his blessing to Finland's NATO bid when the two meet. Erdogan indicated that he would send ratification of Finland's NATO membership to parliament soon, saying that he would "keep his promise". After that, we will fulfil our promise," Erdogan told reporters on Wednesday, when asked whether he would send ratification of Finland's NATO bid to Turkish parliament next week. "Positive messages will be given to Finland's president during his visit," the second official said.

☆ Erdogan aide says time running out to ratify Sweden, Finland NATO bids
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Turkish flag flies next to NATO logo at the Alliance headquarters in Brussels, Belgium, November 26, 2019. REUTERS/Francois Lenoir/File PhotoANKARA, Jan 14 (Reuters) - Turkey is running out of time to ratify NATO membership bids by Sweden and Finland before it holds elections expected in May, a Turkish presidential spokesman said on Saturday. President Tayyip Erdogan's spokesman, Ibrahim Kalin, said Turkish ratification of the countries' bids depended on how quickly Stockholm fulfils counter-terrorism promises made as part of a deal with Ankara, warning that could take months. Along with Finland, Sweden signed an agreement with Turkey last year aimed at overcoming Ankara's objections to their NATO bids, which were made in May last year and require the approval of all 30 NATO member states. "We have a time issue if they want to join NATO before the NATO summit in June," Kalin added, referring to the Turkish presidential and parliamentary elections, expected in May.

☆ Fed-up Tesla owners say they're so sick of Elon Musk's antics that they're ditching their cars
▼ + stars: | 2023-01-07 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Some Tesla owners are done with the electric-car brand over Elon Musk's antics. We spoke to three Tesla owners who say Musk has made them rethink their relationship with the brand. Perkowitz is one of many Tesla owners rethinking their allegiance to the brand as Elon Musk becomes an increasingly erratic and polarizing figure online. "Elon was a really good reason to buy the car," Perkowitz told Insider. "I've been kind of stalling waiting for Elon to come to his senses and say something that makes sense," Perkowitz said.

REUTERS/Francois LenoirWASHINGTON/BRUSSELS, Oct 7 (Reuters) - U.S. President Joe Biden on Friday signed an executive order to implement a European Union-United States data transfer framework announced in March that adopts new American intelligence gathering privacy safeguards. Judges with experience in data privacy and national security will be appointed from outside the U.S. government. European privacy activists have threatened to challenge the framework if they did not think it adequately protects privacy. Austrian Max Schrems, whose legal challenges have brought down the previous two EU-U.S. data flow systems, said he still needed to analyze the package. "At first sight it seems that the core issues were not solved and it will be back to the CJEU (EU court) sooner or later," he said.

☆ Inside BlackRock's powerful consulting arm that's made the most influential money manager an advisor to world powers
▼ + stars: | 2021-06-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +21 min

One of the reporters noted that Powell's public calendar showed calls with Larry Fink, BlackRock's chief executive, in March, April, and May. The exchange was hardly the first time no-bid contracts between the Fed and BlackRock's Financial Markets Advisory unit raised questions. Still, former employees told Insider that FMA has served as a clear source of public-facing clout for BlackRock. "The FMA clients have extended their advisory relationships to be multiyear." A little over a year ago, FMA pulled employees out of BlackRock's office there, three former employees said.

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