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☆ Elon Musk Seeks Greater Control Over Tesla Ahead of AI Advancements
▼ + stars: | 2024-01-16 | by ( Mauro Orru | Rebecca Elliott | ) www.wsj.com time to read: 1 min

U.K. Prime Minister Rishi Sunak and billionaire Elon Musk discussed a wide range of topics, from China to the implications of rogue robots, during an event at the UK’s first major summit on artificial intelligence safety. Photo: Tolga Akmen/Press PoolElon Musk said he feels uncomfortable making Tesla a leader in artificial intelligence and robotics without having about 25% voting control of the electric-car maker. Musk said late Monday in a post on X that he wants enough control at Tesla to be influential, but not so much that he couldn’t be overruled.

Persons: Rishi Sunak, Elon Musk, Tolga, Tesla, Musk, couldn’t Organizations: Elon Locations: China

☆ Airbus Sticks to Delivery Target, Ramps Up A350 Production Despite Supply-Chain Challenges
▼ + stars: | 2023-11-08 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Airbus noted that supply-chain issues are making it harder to procure some spare parts, raw materials. Photo: stephane mahe/ReutersAirbus posted higher revenue and earnings for the third quarter and backed its guidance for the year, sticking to plans to deliver 720 commercial planes and ramping up production of its A350 wide-body aircraft despite lingering supply-chain snags. The European plane maker had delivered 559 aircraft to customers by the end of October, meaning it will need to send out 161 planes in November and December to hit its annual target. Airbus had originally hoped to achieve 720 deliveries last year but was forced to shelve that goal due to supply-chain woes.

Persons: stephane mahe Organizations: Airbus, Reuters Airbus

☆ Kering Sales Miss Forecasts Amid Luxury Industry Slowdown
▼ + stars: | 2023-10-24 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Gucci sales slipped 7% on a comparable scope and exchange rate basis to €2.22 billion in the third quarter. Photo: Nathan Laine/Bloomberg NewsKering posted sales below analysts’ expectations for the third quarter, becoming the latest fashion group to reel from a slowdown in the luxury-goods industry as the postpandemic boom fades. The owner of Gucci and Yves Saint Laurent on Tuesday reported revenue of €4.46 billion ($4.76 billion) in the three months to the end of September, down 13% in reported terms and 9% on a comparable scope and exchange-rate basis. Analysts had forecast sales of €4.52 billion, according to FactSet.

Persons: Nathan Laine, Kering, Gucci, Yves Saint Laurent Organizations: Bloomberg, Analysts

☆ Mauro Orru — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-19 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Mauro OrruMauro Orru is a reporter at Dow Jones Newswires and The Wall Street Journal in Barcelona, where he covers European business news. While technology is his main focus, he also writes about other beats ranging from aviation to banking, energy and healthcare, among others. Since joining in 2019, he has covered the impact of the coronavirus pandemic on businesses in the EMEA region and, more recently, the fallout of the war in Ukraine. Prior to joining Dow Jones, Mauro interned at the Financial Times and the Sunday Times in London. He holds a first-class honors degree in journalism from Kingston University.

Persons: Mauro Orru Mauro Orru, Dow Jones Newswires, Dow Jones, Mauro Organizations: Dow, Street, Financial Times, Sunday Times, Kingston University Locations: Barcelona, Ukraine, London

☆ Elon Musk Floats Charging Users for X
▼ + stars: | 2023-09-19 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/elon-musk-floats-charging-users-for-x-b6fb758d

Persons: Dow Jones

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/after-seizing-western-assets-russia-puts-chechen-official-local-businessman-in-charge-e94e12

Persons: Dow Jones Locations: russia

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/after-seizing-western-assets-russia-puts-chechen-official-local-businessman-in-charge-e94e12

Persons: Dow Jones Locations: russia

☆ Jeep Maker Stellantis to Hand $4.5 Billion to Shareholders
▼ + stars: | 2023-02-22 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Stellantis exhibited at the Chicago Auto Show in Chicago earlier this month. Stellantis NV is planning to distribute $4.47 billion in dividends to shareholders and buy back up to $1.60 billion worth of shares after revenue and net profit surged in 2022, a year marked by a steep rise in electric-vehicle sales. Stellantis and other car makers have had to contend with supply chain snags caused by the war in Ukraine and a surge in Covid-19 infections in China, a key car market.

☆ Lufthansa Bids to Buy Stake in Alitalia’s Successor, Betting on Air Travel Recovery
▼ + stars: | 2023-01-18 | by ( Mauro Orru | Benjamin Katz | ) www.wsj.com time to read: 1 min

Lufthansa wants to expand in Italy because of its importance as one of Europe’s biggest economies and most popular vacation destinations. Germany’s Deutsche Lufthansa AG said it had submitted a bid to buy a stake in ITA Airways, the Italian carrier formerly known as Alitalia, in a bet on the continued recovery in air travel. Lufthansa said Wednesday it was seeking exclusive talks with the Italian government to initially acquire a minority stake in ITA Airways, with an option to buy the remaining shares at a later date. The move comes after a consortium including Air France-KLM Group and Delta Air Lines Inc. failed to reach a deal to buy a stake in ITA after entering talks last year.

☆ Germany’s BASF to Swing to Loss on Russia-Related Impairment
▼ + stars: | 2023-01-18 | by ( Georgi Kantchev | Mauro Orru | ) www.wsj.com time to read: 1 min

BERLIN—Germany’s chemicals giant BASF SE said it would take a roughly 7.3-billion-euro hit, equivalent to about $7.9 billion, from the exit of its energy unit from Russia and that it expects a net loss for 2022 in the latest major corporate fallout from the war in Ukraine. After putting a stop to new projects in Russia following the start of the invasion last year, oil-and-gas producer Wintershall Dea AG, where BASF is a majority shareholder, now plans to fully leave Russia, it said.

☆ Microsoft Fined $64 Million in France Over Advertising Cookies
▼ + stars: | 2022-12-22 | by ( Sam Schechner | Mauro Orru | ) www.wsj.com time to read: 1 min

The French privacy regulator said Microsoft’s search engine, Bing, hadn’t set up a system allowing users to refuse cookies as easily as accept them. PARIS—France’s privacy watchdog fined Microsoft Corp. for not making it easy enough for users of its Bing search engine to reject cookies used for online ads, as part of a broader increase of enforcing Europe’s privacy laws. France’s data-protection regulator, the CNIL, said Thursday that it fined a Microsoft subsidiary in Ireland 60 million euros, equivalent to almost $64 million. The company hadn’t—until earlier this year—offered users the option to reject so-called cookies alongside the button to accept them, the regulator said. Cookies are a type of digital identifier that websites can leave in web browsers, and which are often used to help target advertising.

KYIV, Ukraine—Waves of Russian missiles slammed into Kyiv and other Ukrainian cities on Monday in one of the broadest and most intense barrages of the war, in response to a weekend attack Moscow blamed on Ukraine that seriously damaged a bridge connecting Russia to occupied Crimea. Ukrainian President Volodymyr Zelensky said Russia had carried out dozens of strikes using missiles as well as Iranian-made drones to target the country’s electrical grid and other civilian infrastructure. “They want panic and chaos,” he said in a video address filmed near his office. “They want to destroy our energy system.”

KYIV, Ukraine—Waves of Russian missiles slammed into Kyiv and other Ukrainian cities in one of the broadest and most intense barrages of the war, in response to a weekend attack Moscow blamed on Ukraine that seriously damaged a bridge connecting Russia to occupied Crimea. Ukrainian President Volodymyr Zelensky said Russia had carried out dozens of strikes using missiles as well as Iranian-made drones to target the country’s electrical grid and other civilian infrastructure. “They want panic and chaos,” he said in a video address filmed near his office. “They want to destroy our energy system.”

☆ Russia Moves to Tighten Grip on Occupied Lands as Ukraine Presses Offensive
▼ + stars: | 2022-09-20 | by ( Matthew Luxmoore | Mauro Orru | ) www.wsj.com time to read: 1 min

Moscow announced plans to tighten its grip on Ukrainian territory it still occupies and threatened a wider war if Kyiv’s advance proceeds, suggesting growing concern in the Kremlin over Ukraine’s swift gains this month. Russia’s proxy states occupying parts of eastern and southern Ukraine renewed pledges to expedite preparations for referendums on joining Russia Tuesday, part of a campaign coordinated by the Kremlin to consolidate its hold on territory it took months to capture but now risks losing as Ukraine vows to continue its advance. The country’s lower house of parliament also approved legislation that could help address its shortage of troops on the battlefield.

MOSCOW—Officials in Russian-occupied parts of Ukraine announced plans for Russia to annex four regions in the country’s east and south, while Moscow moved to clear the way for a broader mobilization as an increasingly pressured Kremlin seeks a firm response to counter Kyiv’s offensive. Russian-controlled parts of the Donetsk, Luhansk, Kherson and Zaporizhzhia regions of Ukraine said they would hold three-day votes on joining Russia starting this Friday, Moscow’s latest effort to consolidate its hold on territory it took months to capture but now risks losing to Ukraine’s forces. A Kyiv offensive in the annexed areas would allow Russia to claim an attack against its own territory, raising the threat of an escalation in the conflict.

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