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☆ Mikaela Shiffrin: US skiing star hospitalized after ski crash
▼ + stars: | 2024-01-26 | by ( Thomas Schlachter | Ben Church | ) edition.cnn.com time to read: +1 min

CNN —US skiing superstar Mikaela Shiffrin – the most successful skier of all time – was taken by ambulance to a local clinic following a crash in the women’s downhill event in Cortina d’Ampezzo, Italy, on Friday. Shiffrin, 28, was seen limping away from the run, using her skis to support her as she made her exit surrounded by medical staff. “Mikaela Shiffrin was taken by ambulance to the clinic in Cortina and is being evaluated for a left leg injury. The incident comes after Shiffrin’s partner, Norwegian skier Aleksander Aamodt Kilde, suffered a “brutal” full-speed crash at a World Cup event earlier in January. Shiffrin had rushed to his side at hospital and was with him when he woke up from surgery.

Persons: Mikaela Shiffrin, –, “ Mikaela Shiffrin, Shiffrin, Aleksander Aamodt Kilde Organizations: CNN, Cortina d’Ampezzo, PCL Locations: Italy, Cortina

☆ Canada's TD Bank's fourth-quarter profit falls on higher provisions
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - TD Bank Group (TD.TO) reported a fall in its fourth-quarter profit on Thursday, as Canada's second-largest lender set aside more rainy-day funds to cover for potential sour loans. Peer Scotiabank (BNS.TO), which kicked off the Canadian banks' earnings season on Tuesday, also earmarked higher funds to prepare for potential loan losses, dragging its profit down. TD's net interest income - the difference between what banks earn on loans and pay out on deposits - fell nearly 1.8%, to C$7.49 billion. The lender's personal and commercial business posted a 1% decrease in net income, while the U.S. retail unit dipped 17%. The bank's adjusted net income fell to C$3.51 billion ($2.58 billion), or C$1.83 per share, for the three months ended Oct. 31, from C$4.07 billion, or C$2.18 per share, a year earlier.

Persons: Arasu Kannagi Basil, Shilpi Majumdar, Pooja Desai Organizations: Bank Group, Bank of Canada, PCL, Scotiabank, Thomson Locations: U.S, Bengaluru

TD said it would be challenging to meet its medium-term adjusted earnings growth target range of 7%-10% in the new fiscal year. It reported adjusted earnings of C$1.83 per share, 7 Canadian cents shy of estimates. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, according to LSEG data. CIBC also beat profit expectations as it set aside smaller-than-expected loan provisions and is slashing costs through a 5% reduction in its workforce, or about 2,400 jobs. The lender, Canada's fifth biggest, reported adjusted earnings of C$1.57 per share, compared with expectations of C$1.53.

Persons: Mark Blinch, Gabriel Dechaine, Kelvin Tran, Victor Dodig, Dave McKay, Niket, Balu, Arasu Kannagi Basil, Shinjini Ganguli, Kirsten Donovan, Mark Porter Organizations: Royal Bank of Canada, REUTERS, Canadian Imperial Bank of Commerce, RBC, National Bank, CIBC, TD Bank, Bank Nova Scotia, Bank of Montreal, Scotiabank, Tuesday, Thomson Locations: Toronto, dealmaking, PCLs, Canada, United States, U.S, Bengaluru

☆ Thailand approves new, scaled down EV subsidy package - industry official
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

An electric car is seen while being charged during the opening of a PTT Pcl energy firm's commercial EV (Electric Vehicle) charging station, in Bangkok, Thailand, August 15, 2016. REUTERS/Jorge Silva/File Photo Acquire Licensing RightsBANGKOK, Nov 1 (Reuters) - Thailand on Wednesday approved a new subsidy package for electric vehicles, an industry official said, in a move to support EV sales in a top regional auto hub where battery-powered cars are steadily gaining traction. The new package approved by the National Electric Vehicle Policy Committee includes a lower subsidy than the current scheme ending this year, chairman of the Federation of Thai Industries, Kriengkrai Theinnukul, told reporters. EVs have enjoyed strong sales in Thailand this year, accounting for about half of all EV sales in Southeast Asia in the second quarter. Thailand currently offers a government subsidy of up to 150,000 baht ($4,100) per vehicle, but the amount could be brought down to 100,000 baht, a government official said last month.

Persons: Jorge Silva, Kriengkrai Theinnukul, EVs, Kitiphong Thaichareon, Orathai Sriring, Martin Petty Organizations: PTT, REUTERS, Rights, National Electric Vehicle, Federation of Thai Industries, Thomson Locations: Bangkok, Thailand, Rights BANGKOK, Southeast Asia, BYD

☆ Thailand in talks with CATL, others on potential battery plants, govt official says
▼ + stars: | 2023-05-03 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +3 min

"We are talking to many companies, not only CATL but many companies in the battery industry," said Narit Therdsteerasukdi, Secretary General of Thailand Board of Investment (BOI). CATL, the world's dominant battery supplier with a 37% market share, currently has no production facilities in Southeast Asia, its website shows. In the past few years, Thailand has drawn investments from EV companies, mainly Chinese, including Great Wall Motors and BYD Co (002594.SZ). Narit said the government's goal was to direct support and subsidies to land larger battery production facilities. CATL currently has 13 battery production hubs, 11 in China, one in Hungary and one in Germany.

TOKYO, April 10 (Reuters) - Japan's Mitsubishi Corp (8058.T) on Monday said that it and other shareholders of the Monsoon wind power project in Laos have raised $692 million in financing for the wind farm. Mitsubishi, Thai renewable energy firm BCPG Pcl, and other stakeholders secured the financing package from the Asian Development Bank, Japan International Cooperation Agency, Sumitomo Mitsui Banking Corporation and other lenders, the Japanese firm said. The project, which is set to sell power to Vietnam under a 25-year deal, will have 600 megawatts of installed capacity and should be launched in 2025. Its total costs stand at $950 million, according to Monsoon's website. Reporting by Katya Golubkova; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

[1/2] Thailand's Prime Minister Prayuth Chan-ocha attends the draw for the party's list usage for the upcoming election ahead an event by the election commission in Bangkok, Thailand, April 4, 2023. The election broadly pits political groups backed by the royalist military and Bangkok establishment against an opposition led by the populist Pheu Thai party, which together with its previous incarnations has won every election since 2001. Pita Limjaroenrat, another opposition figure, was nominated by his Move Forward party, popular among young voters. Political experts say the generals would have an advantage in the race, having led the junta that appointed the current slate of senators. Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

[1/2] A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. Banks typically benefit from higher interest rates but could feel the pressure if they affect loan demand and economic growth. Provision for credit losses (PCL) at BMO came in at C$217 million ($158 million) for the quarter, compared with a recovery of C$99 million a year earlier. Reuters GraphicsProfits at BMO and Scotiabank were also weighed down by the Canadian government's 'Canada Recovery Dividend (CRD)'. BMO recorded C$371 million related to the CRD and Scotiabank C$579 million.

"We had such a hard time, and I would rather have more Chinese people come than the government restricting their entry so I can do business." "Tour bus operators who have had their vehicles idly parked for over three years are now gearing up for (bus) inspections," said Thai Tour Bus Association President Wasuchet Sophonsatien. Thailand, Japan, the United States, South Korea, Australia, Macao, Singapore, Hong Kong and Taiwan were the most-searched destinations. Yue Hua Entertainment Korea, which manages Tempest, did not respond to a request for comment. "The pandemic outbreak on the mainland is still vigorous and needs time to recover, while domestic consumption remains weak on the mainland."

☆ Chinese billionaire Jack Ma spotted in Bangkok - Thai media reports
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, Jan 7 (Reuters) - Alibaba Group (9988.HK) founder Jack Ma was spotted socialising in Bangkok this week, having stayed out of the public eye since regulators in China launched a clampdown on his business empire in late 2021, social media posts and local media reports showed. Several local media also reported that Ma was at the restaurant with Supakit Chearavanont, Chairman of the Board of Charoen Pokphand Group (CP Group) and Charoen Pokphand Foods PCL (CPF.BK), Thailand's largest agribusiness group. Media also reported that Ma attended a boxing match at Bangkok's Rajadamnern Stadium where he posed with clenched fists for a photograph with Thai boxing champion Sombat "Buakaw" Banchamek. The Jack Ma Foundation did not immediately respond to Reuters' request for comment. Ma will give up control of the Chinese fintech giant Ant Group in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its $73 billion IPO was scupper two years ago.

☆ Top Canada banks RBC, National Bank's profits dip as bad debt provisions mount
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Profit from personal and commercial banking for RBC and National Bank in the quarter grew 5% and 13%, respectively. RBC earmarked C$381 million in provisions for credit losses (PCL), compared with a C$227 million release last year. National Bank reported C$87 million versus a C$41 million release a year ago. Shares of RBC, which agreed to buy HSBC's (HSBA.L) Canadian business on Tuesday, were down 1.4%, while National Bank fell nearly 4%. National Bank, on the other hand, posted an adjusted profit of C$2.08 per share, below analysts' expectation of C$2.24.

☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $620 mln
▼ + stars: | 2022-11-24 | by ( Makiko Yamazaki | Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit BV (HC) for about 596 million euros ($621 million). The acquisitions will be made through main Mitsubishi UFJ banking arm MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. PPF, which had been looking at selling or taking on partners in some markets for the HC business, said in a statement it was the right time to pass the baton. A Mitsubishi UFJ executive said in a briefing that the lender would explore further acquisition opportunities in Southeast Asia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.

☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $596 mln
▼ + stars: | 2022-11-24 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The acquisitions will be made through Japanese unit MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. Home Credit (HC) is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner. read moreAfter the completion of the deal, Bank of Ayudhya will hold 75% of the shares of HC Philippines and 75% of the shares of HC Indonesia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.

☆ Thai Airways to name new CEO as early as Jan 2023, acting head says
▼ + stars: | 2022-11-11 | by ( Chayut Setboonsarng | ) www.reuters.com time to read: +1 min

BANGKOK, Nov 11 (Reuters) - Thai Airways International PCL (THAI.BK) expects to name a new permanent CEO as early as January 2023 as it proceeds with a pandemic-driven restructuring plan, the airline's acting chief executive said on Friday. "There were nearly 50 applicants," acting CEO Suvadhana Sibunruang told Reuters on the sidelines of an industry gathering in Bangkok, saying a decision would be made early next year. Thai Airways entered bankruptcy protection last year to restructure 400 billion baht ($11.1 billion) in debt and has shed around half of its workforce and aircraft fleet. The carrier previously said Thai state agencies will own about 40% of the airline after restructuring, down from current levels of 67%. The airline on Friday reported a third-quarter loss of 4.79 billion baht, down from a 40 billion baht profit the prior year that included a large one-off gain from the restructuring plan.

BANGKOK, Oct 27 (Reuters) - A Thai celebrity media tycoon, transgender rights advocate and new owner of the Miss Universe beauty pageant wants to use the event to inspire women like her and boost tourism. She bought the Miss Universe Organisation on Wednesday for $20 million, marking the first time the beauty pageant organiser has been owned by a woman, her company said. REUTERS/Athit Perawongmetha 1 2 3 4She said Miss Universe can promote Thailand's Five F-factors tourism campaign, boosting fighting (Thai boxing), film, festival, fashion and food. “Every country - not just Thailand - will get tourism income when you are the (pageant) host country,” Jakapong said. Other plans for Miss Universe include licensing and merchandising opportunities, including integration with JKN’s own businesses like fashion, beverages and cosmetics.

CNN —A Thai media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, according to her company, which will now host the international beauty pageant. In a joint statement, the CEO and president of the Miss Universe Organization said they were “excited to continue the evolution of the Miss Universe Organization with JKN.”“Our progressive approach continues to position us at the forefront of our industry,” they said. The purchase makes Jakkaphong the first woman owner of the Miss Universe Organization, according to the JKN news release. The Miss Universe beauty contest, one of the world’s most-watched pageants, has been running since 1952. And in 2019, the winners of five major pageants – Miss Universe, Miss World, Miss America, Miss USA and Miss Teen USA – were all women of color, a remarkable milestone given black women weren’t allowed to compete in Miss America until the 1940s, and the first black contestant didn’t take that stage until 30 years later.

☆ Thai businesswoman buys Miss Universe pageant for $20 mln
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Oct 26 (Reuters) - A Thai celebrity media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, marking the first time the beauty pageant organiser will be owned by a woman, her company said on Wednesday. She has been outspoken about her experience as a transgender woman and also set up the Life Inspired For Thailand Foundation to advocate for the rights to dignity and opportunities for transgender people. The acquisition is "a strong, strategic addition to our portfolio," said Jakapong, adding that Miss Universe, with its content, licensing and merchandising opportunities, plans to expand in Asia. JKN produces its own shows and distributes content in Thailand from abroad including documentaries and Bollywood dramas. The annual beauty contest run by the Miss Universe Organisation, which was co-owned by Donald Trump between 1996 and 2002, is broadcast in 165 countries and has been running for 71 years.

☆ Thai telco regulator gives conditional clearance to True, DTAC merger
▼ + stars: | 2022-10-20 | by ( Chayut Setboonsarng | Andres Gonzalez | ) www.reuters.com time to read: +2 min

BANGKOK, Oct 20 (Reuters) - Thailand’s telecommunications regulator cleared the merger of the country’s second and third largest mobile operators, True Corporation Pcl (TRUE.BK) and Telenor ASA’s (TEL.OL) Total Access Communication Pcl (DTAC) (DTAC.BK) with conditions. The combined entity will overtake Advanced Info Service Pcl (AIS) (ADVANC.BK), as market leader. True, DTAC and AIS did not immediately respond to requests for commentDTAC is backed by Norwegian firm, Telenor. Thai agri-industrial conglomerate Charoen Pokphand Group holds a 49% stake in True Corp with China Mobile holding 18%, True’s website shows. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chayut Setboonsarng; Editing by Susan Fenton;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

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