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☆ Spain's BBVA takes aim again at $10 billion Sabadell
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: +2 min

The headquarters of the Spanish bank BBVA are seen in Madrid, Spain. Talk of a tie-up between Spain's second and fourth-largest banks comes almost four years after previous negotiations collapsed. The potential merger follows a period of consolidation in the sector as Spanish banks seek to cut costs and boost scale. For BBVA, a tie-up would boost its domestic business and increase lending to small and medium-sized companies, where Sabadell is strong. Spain's Economy Minister Carlos Cuerpo told Spanish news agency EFE that it was essential to preserve a competitive landscape in the financial sector.

Persons: BBVA's, Onur Genc, Carlos Torres, Joaquin Robles, JP Morgan, Carlos Cuerpo, EFE Organizations: BBVA, Sabadell, XTB, Unicaja, UBS, JPMorgan Locations: Spanish, Madrid, Spain, Santander's

☆ Istanbul church shooting victim was a Muslim, says local official
▼ + stars: | 2024-01-29 | by ( Scott Mclean | ) edition.cnn.com time to read: +2 min

CNN —The lone victim of Sunday’s ISIS-claimed shooting at the Santa Maria Catholic Church in Istanbul was a Muslim, according to a local official. “During the attack, a citizen from Bayburt at the entrance, a Muslim citizen, lost his life,” said the mayor. A funeral ceremony for Tuncer Murat Cihan, the victim of the shooting, is held on Monday. Dilara Senkaya/Reuters“According to the priest, he was constantly going to church and the priest knew this person and referred to him as ‘a good person,’” added Genc. ISIS has claimed responsibility for a shooting, according to a statement from the ISIS-affiliated Amaq news agency, citing a security source from the terror group.

Persons: Sukru Genc, ”, Ali Yerlikaya, Tuncer Murat Cihan, Dilara Senkaya, ” Genc, BirGün, Genc, Witold Lesniak, Recep Tayyip Erdogan’s, “, ” Erdogan, Davut Gul, Anadalou Organizations: CNN, ISIS, Santa Maria Catholic Church, Turkish, Reuters, Polish Locations: Istanbul, Sariyer, Bayburt, Turkish, Tajikistan, Russia, Turkey

☆ Man Killed in Istanbul Church Shooting Was Out for a Walk, Relative Says
▼ + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

Murat Cihan, the victim's cousin, said his relative had no political or religious connections and lived "in his own world". CCTV footage verified by Reuters shows the two gunmen waiting briefly in an entrance hall at the church, before following a man inside. Another angle shows the attackers shooting the man walking in ahead of them. Istanbul Mayor Ekrem Imamoglu said the Polish consul general was also inside the church with his family during the attack. Footage from inside the church on Monday showed bullet holes on the side of a pew, as well as another in a wall.

Persons: Mehmet Emin Caliskan, Tuncer Murat Cihan, Murat Cihan, Sukru Genc, Ekrem Imamoglu, Tayyip Erdogan, Tuncer, Alex Richardson Organizations: Islamic, Authorities, Italian Santa Maria Catholic Church, Reuters, Islamic State Locations: Mehmet Emin Caliskan ISTANBUL, Istanbul, Italian, Sariyer, Tajikistan, Russia, Sariyer's, Polish

☆ Spain's state fund considers taking Telefonica stake after STC move
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Acting Economy Minister Nadia Calvino has said Madrid will carry out a thorough evaluation before approving STC's stake, while acting labour minister Yolanda Diaz has called for the transaction to be blocked. Spain's SEPI said in a stock market filing on Tuesday that it was carrying out an "exploratory internal analysis over a potential acquisition" of a stake in Telefonica. STC declined to comment on any potential plans by SEPI. Caixabank, which owns 3.5% stake of Telefonica, said last week it would not raise its stake in response to STC's move, and would analyse with Telefonica any potential cooperation with the Saudi Arabian telecoms company.

Persons: Violeta Santos Moura, Spanish telco Caixabank, SEPI, Nadia Calvino, Yolanda Diaz, Spain's SEPI, Belen Gualda Gonzalez, Onur Genc, It's, Genc, Inti Landauro, Pietro Lombardi, Louise Heavens, Alexander Smith Organizations: Spanish Telecom, REUTERS, BBVA, Telefonica Bank, Telefonica MADRID, Telefonica, Saudi, STC, Saudi Arabia's, SEPI, Thomson Locations: Madrid, Spain, Spanish, Saudi Arabian

☆ French retailer Casino finalises rescue deal led by Czech tycoon
▼ + stars: | 2023-10-05 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

A logo of French retailer Casino is pictured outside a Casino supermarket in Nantes, France, May 10, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 5 (Reuters) - French supermarket group Casino (CASP.PA) said on Thursday that it had finalised a deal to avert bankruptcy through a debt restructuring agreed with its main creditors, led by Czech billionaire Daniel Kretinsky. Casino was brought to the verge of default after years of debt-fuelled acquisitions and recent losses in market share to rival supermarket operators. It said the binding debt deal was reached with the consortium led by Kretinsky's company EPGC alongside Casino's biggest creditor Attestor, its second-biggest shareholder Fimalac and the retailer's secured creditors. "Casino has reached a major milestone in its financial restructuring process by obtaining the agreement of its main creditors on a financial restructuring plan," Casino CEO and controlling shareholder Jean-Charles Naouri said in a statement.

Persons: Stephane Mahe, Daniel Kretinsky, Jean, Charles Naouri, Naouri, Dominique Vidalon, Sudip Kar, Gupta, Alexander Smith Organizations: REUTERS, Rights, Casino's, Fimalac, Thomson Locations: Nantes, France, Czech

CNN —An American man stuck in the third-deepest cave in Turkey after falling ill has said he is “doing well” as rescue operations to retrieve him from hundreds of meters below the surface continue. American caver Mark Dickey, talks to camera inside the Morca cave near Anamur, southern Turkey, on Sept. 7, 2023. Turkish Government Directorate of Communications/AP“As you can see I’m up, I’m alert, I’m talking. Gretchen Baker, from National Cave Rescue Commission (NCRC), who has known and worked with Dickey for several years and has been in communication with the rescue team, expressed cautious optimism about Dickey’s safe passage out of the cave. Despite Dickey’s improving medical situation, Baker said even with him helping, the rescue operation still has some way to go.

Persons: Mark Dickey, Dickey, I’m, ”, Bulent Genc, Gretchen Baker, CNN’s Isa Soares, Baker, “ Organizations: CNN, Turkish, Federation, Directorate of Communications, Rescue, Cave Rescue Locations: American, Turkey, Morca Valley, Anamur, Turkish, Cave

☆ Mark Dickey: Turkey rescuers rush to save American trapped in Morca cave
▼ + stars: | 2023-09-07 | by ( Mostafa Salem | ) edition.cnn.com time to read: +1 min

CNN —Rescuers are rushing to save an American man trapped in the third deepest cave in Turkey after he became ill, the Turkish Caving Federation said. Some 150 rescuers are involved in a “complex” operation to save Mark Dickey, who was part of a research team in Morca Valley, the Turkish Caving Federation said. Caving rescue workers from several countries have arrived in Turkey to assist in the operation, including Hungarian, Italian, Croatian and American rescuers, according to Genc. The Hungarian Cave Rescue service said that Dickey suffered gastrointestinal bleeding. “Mark is currently residing at the campsite at 1,040 meters from the entrance,” the Turkish Caving Federation said on Wednesday.

Persons: Mark Dickey, “, Bulent Genc, Dickey, Mark Organizations: CNN, Turkish, Federation, Twitter Locations: American, Turkey, Morca Valley, Turkish

☆ Rescuers race to save ill US cave explorer trapped 3,000 feet underground
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Mark Dickey, the U.S. caver who is currently trapped near Morca, poses in Mentone, Alabama, U.S., May 12, 2023. National Cave Rescue Commission (NCRC)/Handout via REUTERS/File photo Acquire Licensing RightsMERSIN, Turkey, Sept 7 (Reuters) - More than 150 rescuers raced on Thursday to reach an American man who fell ill and became trapped some 1,000 metres (3,280 ft) underground in a cave he was exploring in southern Turkey. Mark Dickey, 40, was on an international exploration mission in the Morca cave in the Taurus mountains when he began suffering gastrointestinal bleeding, Turkey's TUMAF caving federation said in a statement. "Several international teams, including Croats and Italians, are aiding in the operations. Footage from the rescue operation showed Turkish and international teams setting up tents and cables outside the sinkhole, Turkey's third-largest, which is at an altitude of 2,140 metres (7,020 ft).

Persons: Mark Dickey, Bulent Genc, Genc, TUMAF, Dickey, Ali Kucukgocmen, Helen Popper Our Organizations: Rescue, REUTERS, Rights, Reuters, Turkish, Thomson Locations: U.S, Mentone , Alabama, Rights MERSIN, Turkey, American

It leaves Kretinsky, who submitted a revised offer over the weekend proposing the equity injection, as the only bidder. The cash injection plan would lead to a 4.7 billion-euro reduction in overall debt, Casino said. Casino is saddled with net debt of 6.4 billion euros and is teetering on the brink of default. The board meeting followed a separate meeting between Casino's creditors and CIRI - France's finance ministry body that helps distressed companies and their creditors draw up restructuring plans. Kretinsky and Ladreit de Lacharriere would control the investment vehicle behind the 1.2 billion-euro equity injection, a source said.

Persons: Daniel Kretinsky, Kretinsky's, Xavier Niel, Jean, Charles Naouri, Kretinsky, Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Casino, Marc Ladreit de, Ladreit, Mathieu Rosemain, Mike Harrison, Rosalba O'Brien Organizations: Casino, 3F, Attestor, French, Monde, Fnac, Metro, Forbes, Thomson Locations: Czech, PARIS, French, Paris, Casino, Britain, France, Germany

Reuters interviews with Kar and a dozen other voters in Antakya reflected anger over what some viewed as a slow initial government response to the disaster. The voices are a small snapshot of Antakya and the wider area of southern Turkey hit by the earthquake, a region home to nine million voters and traditionally an Erdogan stronghold. Only 4.3% of voters viewed the quake as Turkey's biggest problem last month, with most more concerned by an economy racked by rampant inflation. Nearby, excavators resound as they demolish some of the 80-90% of buildings estimated to have suffered quake damage. The opposing sides present very different narratives about Erdogan and his government's response to the disaster.

☆ Shunned by the US, Turkey is preparing to launch its first aircraft carrier — but it will come with a twist
▼ + stars: | 2023-02-09 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

Turkey will instead operate the Anadolu with drones, using them to project power across the region. The US kicked Turkey out of the F-35 program in 2019, leaving Ankara without fighter jets for its new carrier. Strictly speaking, Anadolu is not a dedicated aircraft carrier but an amphibious assault ship — specifically a landing helicopter dock, or LHD. Turkey was a Level III partner in the US-led F-35 program, with Turkish companies making about 900 parts for the aircraft. Turkish carrier dronesTCG Anadolu in Istanbul in September 2022.

☆ LG, Whirlpool Target Customers Disconnected From ‘Smart’ Appliances
▼ + stars: | 2023-01-20 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +6 min

Whirlpool Corp. said that more than half of its smart appliances remain connected, but the company declined to be more specific. Development of these smart devices is a core priority for Whirlpool and LG, the companies said. The smart-home trend began gaining traction around 2014, according to Mr. Kim, and has grown since then. Whirlpool declined to comment on the percentage of its sales represented by smart appliances. According to Murat Genc, Whirlpool’s global data, experiences & transformation officer, smart appliances are generating data from consumers and are producing new revenue opportunities.

☆ Spanish banks mull legal challenge to bank tax proposal
▼ + stars: | 2022-11-28 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

MADRID, Nov 28 (Reuters) - Spanish banks Bankinter (BKT.MC) and Caixabank (CABK.MC) are considering challenging the government's new banking tax proposal in court, executives from the lenders said on Monday. An amended windfall tax proposal for Spanish banks and large energy companies last week cleared its first hurdle in parliament with the backing of the leftist ruling coalition and several regional parties. Earlier this month, the banking tax was amended to impose levies on the local units of foreign lenders after the ECB said the proposal would distort competition. Any potential legal challenge from the sector against the government would constitute an unprecedented legal move. BBVA's (BBVA.MC) Chief Executive Onur Genc said his bank would analyse the implications of the bank tax proposal and "we will decide in due time whether to appeal it".

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