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There are nights when Michael Shields lies awake next to his wife and thinks about Ping-Pong balls. He muses on their arcs and speeds, the ways they bounce off a wooden plank or roll down a Hot Wheels track. In the mornings he often turns his visions into reality, and millions tune in to watch. If, as in Mr. Shields’s case, the trick shots garner enough views on social media, talent agents begin to call, and money and corporate partnerships help to keep new content coming. His brother-in-law, Trent Golz, tosses an orange Ping-Pong ball and Mr. Shields releases the hanger, which slides toward the ground while the ball ricochets among five meticulously placed tiles.
Persons: Michael Shields, Shields, Trent Golz
It has been a heat wave that has given pause to many Phoenix residents, even to summer-tested veterans like Shields, who says he's been avoiding news reports about it. REUTERS/Liliana Salgado/File PhotoDespite the trend toward more very hot days, Phoenix residents have tended to shrug off the heat, he said. Phoenix is getting some of the worst of it, as the air mass is centered right over the Southwest. "This is not your typical summer heat." Asphalt temperatures can reach 160 degrees F (71 C) in the summer, the Arizona Humane Society wrote on its blog.
Persons: Michael Shields, Shields, he's, David Hondula, Adam Waltz, Waltz, Liliana Salgado, Zack Taylor, Taylor, Phoenix, It's, Emily Luberto, Cooper Burton, Sharon Bernstein, Rachel Nostrant, Rich McKay, Aurora Ellis, Jonathan Oatis Organizations: National Weather Service, Phoenix, Phoenix Parks, REUTERS, Center, Northern Arizona University, Arizona Humane Society, Thomson Locations: Phoenix, Arizona, Maricopa, Piestewa, Phoenix , Arizona, U.S, Oregon, West Coast, Texas, Alabama, College Park , Maryland, Vegas, Mesa, Flagstaff
It has been a heat wave that has given pause to many Phoenix residents, even to summer-tested veterans like Shields, who says he's been avoiding news reports about it. By 2050, they estimated, Phoenix residents are expected to see an average of 44 days per year over that temperature. REUTERS/Liliana SalgadoDespite the trend toward more very hot days, Phoenix residents have tended to shrug off the heat, he said. "This is not your typical summer heat." Asphalt temperatures can reach 160 degrees F (71 C) in the summer, the Arizona Humane Society wrote on its blog.
Persons: Michael Shields, Shields, he's, David Hondula, Adam Waltz, Waltz, Liliana Salgado, Zack Taylor, Taylor, Phoenix, It's, Emily Luberto, Cooper Burton, Sharon Bernstein, Rachel Nostrant, Rich McKay, Aurora Ellis, Jonathan Oatis Organizations: National Weather Service, Phoenix, Phoenix Parks, REUTERS, Center, Northern Arizona University, Arizona Humane Society, Thomson Locations: Phoenix, Arizona, Maricopa, Piestewa, Phoenix , Arizona, U.S, Oregon, West Coast, Texas, Alabama, College Park , Maryland, Vegas, Mesa, Flagstaff
Even though most national park campgrounds are easily accessible by motorized vehicles, some of the coolest digs are in places that you can’t drive to. Below are eight incredible national park campgrounds that you can’t drive to. Bright Angel Campground (Grand Canyon National Park)The Bright Angel campground is located next to a creek at the end of the South Kaibab Trail in Grand Canyon National Park. Washington Creek (Isle Royale National Park)Washington Creek, part of Michigan's Isle Royale National Park, has 10 camp sites. Sea Camp Beach (Cumberland Island National Seashore)The Cumberland Island National Seashore sits off the coast of Georgia.
Persons: we’re, CNN —, you’ve, doesn’t, Ashley Cooper, John Muir, you’re, Jim West, Weaver, Michael Shi, Joe Yogerst, Organizations: CNN, Key West, Yankee, Island Packers, Yosemite Valley, Nature, Washington Creek, Recreation, Washington State, Co, Cumberland, Getty Locations: Florida, Fort Jefferson, Santa Cruz, California, Ventura Harbor, Yosemite, Little Yosemite Valley, Vernal, Nevada, Maui, Palikū, Washington, Michigan's Isle, Lake Superior, Windigo, Isle, Grand Portage , Minnesota, Houghton , Michigan, Chelan, Lake Chelan, Weaver, Beach, Georgia, Stafford Plantation, Parks
The ruling blocks proposed Otezla generics until 2028. A spokesperson for Sandoz said Wednesday that the company was pleased with the decision allowing for Otezla generics in 2028 instead of 2034. Celgene sued several drugmakers over their proposed Otezla generics starting in 2018, and 17 of the 19 lawsuits have been settled since. U.S. District Judge Michael Shipp said in 2021 that Switzerland-based Sandoz and India-based Zydus' generics would infringe three Amgen patents. The case is Amgen Inc v. Sandoz Inc, U.S. Court of Appeals for the Federal Circuit, Nos.
How Credit Suisse has evolved over 167 years
  + stars: | 2023-03-16 | by ( ) www.reuters.com   time to read: +5 min
Here is how Credit Suisse has developed over 167 years:1856Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt (SKA) to finance the expansion of the railroad network and promote Swiss industrialisation. 1997A reorganisation turns CS Holding into Credit Suisse Group and drops the SKA name; it also buys insurer Winterthur, a strategic partner. 2002A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur. 2005Credit Suisse and CSFB merge and stop using the Credit Suisse First Boston brand name. The Swiss authorities provide assurances that Credit Suisse has met "the capital and liquidity requirements imposed on systemically important banks".
Credit Suisse has said it expects the case, which it is appealing, to cost it around $600 million. The hedge fund's highly leveraged bets on certain technology stocks backfired and the value of its portfolio with Credit Suisse plummeted. Swiss regulators have rebuked Credit Suisse for "serious" failings in its handling of the multi-billion dollar business with Greensill. Switzerland's financial regulator said Credit Suisse had misled it about the scale of the spying. In response, Credit Suisse said it condemned the spying and had taken "decisive" steps to improve its governance and strengthen compliance.
Lescaudron was convicted by a Swiss court in 2018 of having forged the signatures of former clients, including Ivanishvili, over an eight-year period. Credit Suisse has said it expects the case, which it is appealing, to cost it around $600 million. The hedge fund's highly leveraged bets on certain technology stocks backfired and the value of its portfolio with Credit Suisse plummeted. Swiss regulators have rebuked Credit Suisse for "serious" failings in its handling of the multi-billion dollar business with Greensill. In response, Credit Suisse said it condemned the spying and had taken "decisive" steps to improve its governance and strengthen compliance.
Swiss National Bank surprises with forex purchases in Q3
  + stars: | 2022-12-22 | by ( ) www.reuters.com   time to read: +2 min
ZURICH, Dec 22 (Reuters) - The Swiss National Bank bought 12.8 billion Swiss francs ($13.84 billion) of foreign currencies during the third quarter of this year, data showed on Thursday, a surprise after the central bank sold 52 billion francs of forex in the first half. The central bank had been selling foreign currencies to maintain the high nominal value of the franc - an aid in its battle against resurgent inflation. But the SNB bought 12.8 billion francs of forex between July and the end of September. The net acquisition of foreign reserve assets was reduced to 2.4 billion francs after the SNB sold securities valued at 10.4 billion francs during the period. The SNB also published data on Swiss current account, which showed the country's surplus widening to 24.1 billion Swiss francs ($26.08 billion) from 21.7 billion francs a year earlier.
ZURICH, Dec 18 (Reuters) - Italian businessman Silvio Berlusconi family's MediaForEurope NV vehicle has notified the Austrian competition authority about the "acquisition of de facto sole control of ProSiebenSat1 Media DE Deutschland" (PSMGn.DE), the competition watchdog said. MFE had no comment on the notification, which was first reported by German media portal DE24LIVE. The announcement, dated Dec. 13 on the Austrian regulator's website was made because ProSieben also operates in German-speaking Austria. MFE, controlled by the former Italian prime minister's family, has built, partly through derivatives, a 29.9% voting stake in its German rival, cementing its position as single biggest shareholder. "We haven't really seen ProSieben address the big challenges the industry faces: audience decline, digital transformation ... and the need for scale to compete with digital giants," MFE finance chief Marco Giordani told analysts.
ZKB not poaching Credit Suisse clients - CEO in paper
  + stars: | 2022-12-17 | by ( ) www.reuters.com   time to read: +1 min
[1/2] The logo of Zuercher Kantonalbank (ZKB) bank is seen at its headquarters in Zurich, Switzerland September 24, 2020. REUTERS/Arnd WiegmannZURICH, Dec 17 (Reuters) - Zuercher Kantonalbank (ZKB.UL) is not trying to poach clients from embattled Credit Suisse (CSGN.S), the state-backed cantonal bank's chief executive said in a newspaper interview published on Saturday. Amid a social media storm that sparked unfounded speculation about its stability, Credit Suisse reported sharp outflows in October as wealthy clients moved assets elsewhere, although its chairman has said the situation has since stabilised. ZKB CEO Urs Baumann told the Neue Zuercher Zeitung his bank was not actively approaching Credit Suisse clients and said ZKB was not using its state backing as a marketing tool amid such market jitters. Asked would it mean for the Swiss banking sector and for ZKB if problems at Credit Suisse intensified, he said:"We want a strong CS.
Swiss central bank sees onus on Credit Suisse to execute revamp
  + stars: | 2022-12-17 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A Christmas tree is decorated in front of the headquarters of Swiss bank Credit Suisse in Zurich, Switzerland November 23, 2022. REUTERS/Arnd WiegmannZURICH, Dec 17 (Reuters) - Credit Suisse (CSGN.S) needs to execute its revamp successfully and end a string of negative headlines from Switzerland's second-biggest bank, Swiss National Bank Chairman Thomas Jordan said in an interview aired on Saturday. It said this month the turnaround was well under way after completing a 4 billion Swiss franc ($4.3 billion) capital hike. It takes time, it is a big challenge for the management and employees of Credit Suisse," Jordan told Swiss broadcaster SRF in an interview. The SNB (SNBN.S) lost 142.2 billion Swiss francs in the first nine months of 2022 as rising interest rates and the stronger Swiss franc slashed the value of foreign investments.
British American Tobacco closes Swiss plant, lays off 226
  + stars: | 2022-12-15 | by ( ) www.reuters.com   time to read: 1 min
ZURICH, Dec 15 (Reuters) - British American Tobacco (BAT) is to close a cigarette manufacturing plant in Switzerland next year, laying off 226 workers, the Tages-Anzeiger paper and other Swiss media reported on Thursday. “BAT Switzerland confirms that a final decision has been made to transfer cigarette production from Boncourt to larger factories within Europe and to close the Boncourt site," BAT said in a statement. The winding down of the factory located in Switzerland's french-speaking region will be completed by the end of 2023, the company said. Reporting by Noele Illien Editing by Michael Shields and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
[1/4] Chairman Thomas Jordan of the Swiss National Bank (SNB) looks on as he attends a news conference in Bern, Switzerland December 15, 2022. Although Swiss inflation plateaued at 3% in November, it remains elevated by the country's own standards and outside the SNB's price stability goal of annual increases of 0-2%. The European Central Bank is expected to increase its deposit rate by half a percentage point later on Thursday, according to a Reuters poll, while the Bank of England is also forecast to add 50 basis points to its Bank Rate. In its latest forecast on Thursday, the SNB said it expected inflation rates of 2.9% in 2022, 2.4% in 2023 and 1.8% in 2024. Inflation was then expected to rise again, to 2.1% in the third quarter of 2025, the central bank said - above its price stability goal.
ZURICH, Dec 15 (Reuters) - British American Tobacco is to close a cigarette manufacturing plant in Switzerland next year, laying off the 226 employees working there, the Tages-Anzeiger paper and other Swiss media reported on Thursday. The Unia labour union confirmed the plant closure. The BAT plant was not immediately available to comment. Reporting by Noele Illien; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
"Our members and their official brand dealers promote electric cars with great effort, from advertising to personalsales pitches. One draft rule would curb the private use of electric vehicles unless urgently needed for work, shopping, or visiting the doctor or religious ceremonies. The proposal is putting a chill on sales of electric cars, jeopardising the sector's prospects of reaching targets for reducing carbon emissions, auto-schweiz said. A survey among its members had shown the market share of electric cars and plug-in hybrids could rise to over 50% in 2025 from just under half now, it added. The government has said it could curb non-essential use of power, such as illuminating shop windows, using mobile heaters, or lighting at night.
"The successful completion of the capital increase is a key milestone for the new Credit Suisse," its chief executive Ulrich Koerner said in a statement. Credit Suisse had already raised 1.8 billion francs by placing stock with a group of institutional investors led by Saudi National Bank (1180.SE). The exercise of subscription rights left only 16.4 million shares unsold. These are due to be sold on the market at or above the offer price of 2.52 Swiss francs, Credit Suisse said. Credit Suisse, has been battered by mishaps, including a $5.5 billion loss on U.S. investment firm Archegos.
Credit Suisse has already placed some 1.8 billion francs worth of shares with a group of institutional investors led by Saudi National Bank. "The rights issue is the necessary start to the process, said Jerome Legras of Axiom Alternative Investments. REVAMP AND RECORD LOWSCredit Suisse shares, which have plumbed record lows, were buoyed last week as its leadership sought to reassure markets. After closing above 3 Swiss francs on Monday, they have retreated slightly, finishing Wednesday’s session at 2.851 Swiss francs. Crucially, they have held above the deal subscription price of 2.52 Swiss francs and were at 2.821 Swiss francs, down around 1% in mid-session trade on Thursday.
SWISS airline cabin crew to get pay rises of up to 18%
  + stars: | 2022-12-08 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Dec 8 (Reuters) - Cabin crew at airline SWISS will get pay rises of 4% to 18% under a new five-year contract agreed at the unit of Deutsche Lufthansa (LHAG.DE), the two sides said on Thursday. Rank-and-file members of the kapers union still need to sign off on the terms agreed in negotiations on a collective labour agreement (CLA), but the airline and union leaders hailed the deal that follows accords with SWISS ground and cockpit staff. The monthly starting salary will rise to 4,000 Swiss francs ($4,255) from January, and existing salaries will increase by at least 4% for all salary levels, the company said in a statement. "All in all, the improvements agreed under CLA23 will cost SWISS some 100 million Swiss francs in additional investment over the next five years," it said. ($1 = 0.9401 Swiss francs)Reporting by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
ZURICH, Dec 7 (Reuters) - Swiss chocolate maker Barry Callebaut (BARN.S) is investing $70 million at one of its factories in Canada, the company said on Wednesday, its latest move to expand production in North America. The world's biggest maker of chocolate will add more liquid chocolate and molding production lines at its site in Chatham, Ontario and also improve production of dairy-free chocolate compounds which are used by food makers in desserts, ice cream and confectionery. Barry Callebaut's sales in the Americas increased by 6.4% during its last financial year, outpacing the overall market, which increased by 0.7%. Earlier this year Zurich-based Barry Callebaut said it was spending $104 million to build a new factory in Brantford, Ontario, to produce sugar-free chocolate and other speciality products. Reporting by John Revill; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
Swiss Christmas decorations store booms as shoppers flock back
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +1 min
BASEL, Switzerland, Dec 7 (Reuters) - Christmas can never come too soon for Johann Wanner, the world's biggest purveyor of hand-made festive decorations whose shop in the Swiss city of Basel attracts shoppers from around the world. After these years of closing down (for the pandemic) people are ready to come out and invest in Christmas ornaments," the 83-year-old said. And I need my customers and they do come and help me, 54 years running," Wanner said this week. Christmas fans find unusual designs, traditional jewellery from European glassblowers, and Swiss souvenirs. Sandra Takai, a tourist from Philadelphia shopping at the store, said she was going to spend a little more on Christmas this year.
The protest by the Avaaz campaign group included an Infantino impersonator holding a World Cup trophy. Qatar, where foreigners make up most of the 2.9 million population, has faced intense criticism from human rights groups over its treatment of migrant workers. Britain's Guardian newspaper reported last year that at least 6,500 migrant workers -- many of them working on World Cup projects -- had died in Qatar since it won the right in 2010 to stage the World Cup. Qatari World Cup organisers have said that there have been three work-related fatalities and 34 non-work-related deaths among workers at World Cup 2022 sites. Amnesty and other rights groups have led calls for FIFA to compensate migrant workers in Qatar for human rights abuses by setting aside $440 million, matching the World Cup prize money.
Credit Suisse chairman says outflows have basically stopped
  + stars: | 2022-12-02 | by ( ) www.reuters.com   time to read: 1 min
ZURICH, Dec 2 (Reuters) - Credit Suisse (CSGN.S) Chairman Axel Lehmann said in a TV interview with Bloomberg on Friday the embattled bank's outflows have basically stopped and that it is seeing partial inflows. Credit Suisse has reported sharp outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a string of scandals by focusing more on its flagship wealth management franchise and pruning back investment banking. Credit Suisse, whose shares have plunged this year to record lows, is in the midst of raising 4 billion Swiss francs ($4.23 billion) to bolster its finances. Reporting by Noele Illien; Editing by Michael ShieldsOur Standards: The Thomson Reuters Trust Principles.
ZURICH, Dec 2 (Reuters) - The Swiss government proposed on Friday making it mandatory to report cyberattacks on critical infrastructure as a way to help shed light on hackers and sound the alarm more widely. "Successful cyberattacks can have far-reaching consequences for the availability and security of the Swiss economy. The general public, authorities and companies are exposed to the risk of cyberattacks on a daily basis. Swiss stock exchange operator SIX, for example, saw an increase in hacker attacks around the start of Russia's invasion of Ukraine in February. European states have raced to protect energy infrastructure ranging from Norwegian energy installations to German power lines after blaming the Nord Stream pipeline leaks in September on sabotage.
Credit Suisse's fund outflows may spark M&A talk - JPMorgan
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Dec 1 (Reuters) - Continued client outflows at Credit Suisse (CSGN.S) could spark speculation of a takeover of the embattled Swiss bank and may lead to the partial sale of its domestic unit, analysts at JPMorgan said on Thursday. Credit Suisse has reported steep outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a string of scandals by focusing more on its flagship wealth management franchise and pruning back investment banking. JPMorgan said in a note to clients that it expected fourth-quarter outflows of 80 billion Swiss francs ($85 billion) in wealth management and 107 billion francs in total compared to the 84 billion total for this year as of Nov. 11. Credit Suisse, whose shares have plunged about 66% this year to record lows, is in the midst of trying to raise 4 billion francs to bolster its finances. ($1 = 0.9429 Swiss francs)Reporting by Michael Shields Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
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