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☆ Mathematics, reading skills in unprecedented decline in teenagers
▼ + stars: | 2023-12-05 | by ( Leigh Thomas | ) www.reuters.com time to read: +3 min

The Paris-based Organisation for Economic Cooperation and Development said it had seen some of the steepest drops in performance since 2000 when it began its usually triennial tests of 15-year-olds reading, maths and science skills. On average across the OECD, one out of four 15-year-olds tested as a low performer in maths, reading and science, which means they could not use basic algorithms or interpret simple texts, the study found. Poorer results tended to be associated with higher rates of mobile phone use for leisure and where schools reported teacher shortages. The OECD said the decline was not inevitable, pointing to Singapore, where students scored the highest in maths, reading and science, with results that suggested they were on average three to five years ahead of their OECD peers. After Singapore, Macau, Taiwan, Hong Kong, Japan and South Korea also outperformed in maths and science, where Estonia and Canada also scored well.

Persons: Stephane Mahe, COVID, Andreas Schleicher, Leigh Thomas, Bernadette Baum Organizations: REUTERS, Economic Cooperation, Development, OECD, Thomson Locations: Savenay, France, PARIS, Paris, Germany, Iceland, Netherlands, Norway, Poland, Singapore, Macau, Taiwan, Hong Kong, Japan, South Korea, Estonia, Canada, Ireland

The first option in the draft is listed as "an orderly and just phase-out of fossil fuels". The second option calls for "accelerating efforts towards phasing out unabated fossil fuels". "I don't think we're going to leave Dubai without some clear language and some clear direction on shifting away from fossil fuels," he added. China's fossil fuel emissions rose after it lifted COVID-19 restrictions, while India's rise was a result of power demand growing faster than its renewable energy capacity, leaving fossil fuels to make up the shortfall. "Leaders meeting at COP28 will have to agree rapid cuts in fossil fuel emissions even to keep the 2C target alive," he said.

Persons: Stephane Mahe, Jean Paul Prates, Patrick Pouyanne, Jennifer Morgan, Prince Abdulaziz bin Salman, David Waskow, Exeter, Pierre Friedlingstein, Kate Abnett, William James, Valerie Volcovici, Elizabeth Piper, Katy Daigle Organizations: REUTERS, Petrobras, European, Oxford University, Saudi Arabia's Energy, Bloomberg, World Resources, University of Exeter, Reuters, Thomson Locations: France, Montoir, Bretagne, Saint, Nazaire, DUBAI, COP28, Brazil's, United States, European Union, Saudi Arabia, Russia, Dubai, India, China, Paris

☆ EV maker Fisker slashes 2023 production target
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

The logo of Fisker Automotive is pictured on a car at the 2022 Paris Auto Show in Paris, France, October 18, 2022. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsDec 1 (Reuters) - Electric-vehicle maker Fisker (FSR.N) said on Friday it will scale down production this month, and produce lesser cars this year than its previous guidance, to prioritize cash for working capital needs. Shares of the EV maker, which has been struggling with a cash crunch, rose 7% in premarket. "Fisker has made a strategic decision to reduce December production to prioritize liquidity to unlock over $300 million of working capital," the company said. Fisker cut its production target for the year to just over 10,000 units, compared with its earlier forecast of 13,000 to 17,000.

Persons: Stephane Mahe, Fisker, Yuvraj Malik, Sriraj Kalluvila, Krishna Chandra Organizations: Fisker, REUTERS, Thomson Locations: Paris, France, premarket, Bengaluru

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. It is also in advanced negotiations with Kretinsky's EP Equity Investment (EPEI) vehicle to "modify and simplify" some terms of its proposed 2 billion euro ($2.11 billion) sale of Tech Foundations, the group said. AlphaValue analyst Helene Coumes attributed the drop to "the endless uncertainty on the deal on Tech Foundations, the financing issues and how the change of some terms of the agreement will be favorable for the minority shareholders". The Tech Foundations deal would also see Kretinsky take a 7.5% stake in the group's cybersecurity unit Eviden, which is what would be left of Atos. Reporting by Diana Mandiá; Editing by Kirsten Donovan, Robert Birsel and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Daniel Kretinsky, Helene Coumes, Atos, Diana Mandiá, Kirsten Donovan, Robert Birsel, Jan Harvey Organizations: REUTERS, Tech Foundations, Kretinsky's, Equity Investment, Tech, Thomson Locations: Nantes, France, Czech, Atos

☆ France's Casino is looking to sell more supermarkets, Les Echos reports
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Nov 27 (Reuters) - Heavily indebted French supermarket group Casino (CASP.PA) is preparing to sell more supermarkets to Intermarche, a unit of Groupement Les Mousquetaires, or even put its remaining stores for sale to the highest bidder, daily Les Echos said in its Monday edition. Casino already received expressions of interest for its remaining 291 supermarkets, including 60 franchises, and 52 large-scale hypermarkets, the daily said. It warned last week of likely 2023 losses for its core French business due to a slower-than-expected turnaround at its hypermarkets division. Candidates for a takeover must submit their offer by Wednesday, Les Echos said. Reporting by Sybille de La Hamaide and Claude Chendjou; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Les, Les Echos, France's, Daniel Kretinsky, Sybille de La Hamaide, Claude Chendjou, David Gregorio Our Organizations: REUTERS, Rights, Thomson Locations: aÊCasinoÊsupermarket, Nantes, France, Czech

☆ Euro zone business activity fell again in November
▼ + stars: | 2023-11-23 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

LONDON, Nov 23 (Reuters) - The downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed. "Ongoing weakness in the euro zone business surveys suggests a recession is on the horizon. The new business index rose to 46.7 from 45.6. Manufacturing activity, which has contracted every month since July 2022, fell again in November. Its PMI rose to 43.8 from 43.1, beating the poll expectation for 43.4 but resolutely below breakeven.

Persons: Mike Bell, Stephane Mahe, Bert Colijn, Jonathan Cable, Christina Fincher Organizations: PMI, P Global, Reuters, Morgan Asset Management, REUTERS, European Union, ING, Thomson Locations: October's, J.P, France, Nantes, Britain

☆ Paris 2024 to sell 400,000 tickets next week, 7.2 million already sold
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Stephane Mahe/ File photo Acquire Licensing RightsPARIS, Nov 22 (Reuters) - Some 400,000 tickets for the Paris 2024 Olympics will go on sale at the end of the month, organisers said on Wednesday. Paris 2024 is hoping to sell 10 million tickets for the July 26-Aug. 11 Summer Games and has already sold 7.2 million, chief operating officer Michael Aloisio said. "I don't think any other organising committee had sold that many tickets so fast," Aloisio told reporters. Paris 2024 has come under fire for the prices of some tickets but said on Wednesday that a third of the newly issued tickets would be "under 50 euros" across all disciplines apart from surfing. Organisers are also looking to sell 2.8 million tickets for the Paralympics and said they would give details on the progress at the end of the year.

Persons: Guy Degrenne, Stephane Mahe, Michael Aloisio, Aloisio, Julien Pretot, Ed Osmond Organizations: Paris, Paralympic Games, ArcelorMittal, REUTERS, Rights, Thomson Locations: Vire, France

☆ Soaring hotel prices, crackdown on illegal renting to hit Paris 2024 experience
▼ + stars: | 2023-11-20 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Nov 20 (Reuters) - Visitors heading to Paris for next year's Olympics face major accommodation problems amid soaring hotel prices and a crackdown on rentals of tourist apartments. A report by the Paris tourism office showed that hotel prices would rise by a whopping 314% between the 2023 and 2024 summers. The report also hit out at the Paris hotels for waiting too long to open their booking platforms for the July 26 - Aug. 11 Games. According to the Paris Tourism office, a hotel night in the Paris region was 169 euros in July 2023, and it is expected to soar up to 699 euros in July 2024. "At the London Games, the prices were too high and the occupation rate of hotels went 12% down.

Persons: Guy Degrenne, Stephane Mahe, Frederic Hocquard, Hocquard, Jacques Baudrier, Baudrier, Bruno Le Maire, Julien Pretot, Pritha Sarkar Organizations: Paris, Paralympic Games, ArcelorMittal, REUTERS, Rights, Reuters, Paris Tourism, London Games, French Finance, Thomson Locations: Vire, France, Paris, Nantes, Lille, Rennes

A Volkswagen logo is seen on a Volkswagen ID.5 electric car on display at a showroom of a car dealer in Reze near Nantes, France, November 13, 2023. The main lever to reduce prices of electric cars is reducing battery costs, Blume said at the Sueddeutsche Zeitung Wirtschaftsgipfel conference in Berlin, pointing to the company's plans to produce a unified battery cell that it says will reduce battery costs by half. The company had said at the time it was working on a 20,000-euro vehicle, but did not provide further information. "We have a responsibility to bring the right products at the right price onto the market," Blume said. The pressure of inflation, a lack of charging infrastructure and the removal of subsidies were also holding back electric car demand, Blume said.

Persons: Stephane Mahe, Oliver Blume, Blume, Victoria Waldersee, Miranda Murray Organizations: Volkswagen, REUTERS, Rights, Victoria, Thomson Locations: Reze, Nantes, France, Berlin

☆ Paris 2024 calls for vigilance amid disinformation campaign
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

The logo of the Paris 2024 Olympics and Paralympics Games is seen on an official toy mascot at the Doudou et Compagnie factory in La Guerche-de-Bretagne near Rennes in Brittany, France, April 12, 2023. "Between now and the Games, Paris 2024 will continue to monitor, in conjunction with the relevant authorities, the veracity of information circulating about the event and its organisation," Paris 2024 said in a statement on Tuesday. Ties between Paris and Baku have been strained in recent months and have worsened since Baku took control of the Nagorno-Karabah region. Paris 2024 said it was not the first time such campaigns had been aimed at the Games. In summer 2022, a video from New York Insider linking the June riots to the organisation of Paris 2024 went viral, it said.

Persons: Stephane Mahe, VIGINUM, Julien Pretot, John Irish, Angus MacSwan Organizations: Paralympics, Compagnie, REUTERS, Games, New, Paris, Thomson Locations: La Guerche, Bretagne, Rennes, Brittany, France, Azerbaijan, Paris, Baku, Karabah, New York

The logo of Fisker Automotive is pictured on a car at the 2022 Paris Auto Show in Paris, France, October 18, 2022. But Fisker was limited by its delivery and service infrastructure rather than production and demand. "We have not been able to follow through with deliveries fast enough," CEO Henrik Fisker said on the call. "In the course of completing the preparation of the report, the company determined that it has material weaknesses in the company's internal control over financial reporting," Fisker said. The EV company reported a loss of $91 million, missing analysts' estimates for a loss of $75 million, according to Visible Alpha.

Persons: Stephane Mahe, Fisker, Geeta Fisker, Tesla, Elon, Henrik Fisker, Samrhitha Arunasalam, Jaiveer Singh Shekhawat, Akash Sriram, Abhirup Roy, Shounak Dasgupta, Stephen Coates Organizations: Fisker, REUTERS, Ford, General Motors, EV, Alpha, stoke, Revenue, Thomson Locations: Paris, France, U.S, Canada, Austrian, Bengaluru, San Francisco

☆ Turkish Airlines talks to Airbus about ordering 355 new jets
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

The logo of Airbus is pictured outside the Airbus facility in Saint-Nazaire, France, November 7, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsANKARA, Nov 11 (Reuters) - Turkish Airlines (THY) (THYAO.IS) on Saturday held talks with Airbus (AIR.PA) to discuss a potential order of 355 new aircraft, the state-run Anadolu news agency said. If the parties agree, the order will be the largest in the airline's history. In May, Turkish Airlines chairman Ahmet Bolat said the company was planning to order a total of 600 new aircraft in June and they would be delivered within 10 years. Turkish Airlines officials also held talks with Rolls Royce (RR.L) for engine maintenance services and spare engines for the wide-body A350 aircraft, Anadolu said.

Persons: Stephane Mahe, Ahmet Bolat, Rolls, Huseyin Hayatsever, Kevin Liffey Organizations: Airbus, REUTERS, Rights, Turkish Airlines, Saturday, Anadolu, Turkish, Rolls Royce, Thomson Locations: Saint, Nazaire, France, Rights ANKARA, Istanbul, Anadolu

☆ Liverpool suffer shock loss at Toulouse
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Europa League - Group E - Toulouse v Liverpool - Stadium Municipal de Toulouse, Toulouse, France - November 9, 2023 Toulouse's Aron Donnum celebrates scoring their first goal with teammates REUTERS/Stephane Mahe Acquire Licensing RightsTOULOUSE, France, Nov 9 (Reuters) - Liverpool suffered a dramatic 3-2 loss at French side Toulouse in Europa League Group E on Thursday after the English side had a potential equaliser ruled out in the final minute of added time. Liverpool pulled one back in the 73th minute through an own goal from Cristian Casseres, but Frank Magri restored the hosts' two-goal advantage three minutes later, slotting home a deflected cross from close range. Diogo Jota gave the Premier League side hope when he dribbled into the box and placed the ball into the bottom corner. Liverpool remained top of Group E, two points ahead of Toulouse. Reporting by Tommy Lund in Gdansk, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Toulouse's Aron Donnum, Stephane Mahe, Aron Donnum, Thjis Dallinga, Cristian Casseres, Frank Magri, Diogo Jota, Quansah, Alexis Mac Allister, Tommy Lund, Ed Osmond Organizations: Soccer, Europa League, Liverpool, de Toulouse, Rights, French, Toulouse, Premier League, Thomson Locations: Toulouse, France, Rights TOULOUSE, Gdansk

☆ 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

☆ NY Fed: US Q3 credit card debt up on strong economy, as credit woes tick higher
▼ + stars: | 2023-11-07 | by ( Michael S. Derby | ) www.reuters.com time to read: +5 min

A credit card is used on a payment terminal at a shop near Nantes, France, in this illustration picture taken November 6, 2023. The New York Fed report found credit issues are rising, albeit from low levels. The report said increases in credit card delinquency rates were most pronounced for thirtysomething borrowers. “The continued rise in credit card delinquency rates is broad-based across area income and region, but particularly pronounced among millennials and those with auto loans or student loans,” the economist noted. Line chart with data from the Federal Reserve Bank of New York show credit card and auto loans delinquencies for over 30 days.

Persons: Stephane Mahe, there's, Donghoon Lee, “, Daniel Silver, Morgan, Lisa Cook, Michael S, Andrea Ricci, Jonathan Oatis Organizations: REUTERS, Federal Reserve Bank of New York, New York Fed, New, Fed, The New York Fed, New York Federal Reserve, Federal Reserve Bank of New, New York, Thomson Locations: Nantes, France, The, U.S, Federal Reserve Bank of New York, New

☆ Airbus delivered 71 aircraft in October - sources
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Airbus is seen at the entrance of a building in Toulouse, France, March 11, 2021. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Nov 6 (Reuters) - Airbus (AIR.PA) delivered 71 aircraft in October, industry sources said on Monday, up 18% from the same month last year. Airbus declined to comment ahead of the publication of delivery numbers on Tuesday and quarterly results on Wednesday. The October tally, which also accelerated from 55 aircraft in September, brings total deliveries so far this year to 559 units compared with a full-year target of 720. It is in line with a forecast of 71 aircraft by analysts at Jefferies, which said the higher pace of deliveries had "further de-risked" the 2023 delivery target after Airbus downgraded and eventually abandoned delivery goals last year amid supply woes.

Persons: Stephane Mahe, Tim Hepher, Louise Heavens Organizations: Airbus, REUTERS, Rights, Jefferies, Thomson Locations: Toulouse, France

☆ Apple ticks lower after warning of dull holiday quarter
▼ + stars: | 2023-11-03 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Apple shares on Friday pared losses that were driven by its forecast for a subdued holiday quarter after a U.S. jobs report bolstered hopes of a pause in interest rate hikes by the Federal Reserve. The iPhone maker on Thursday forecast sales for the holiday quarter, usually its biggest, below Wall Street estimates, blaming weak demand for iPads and wearables. An Apple iPhone 12 is pictured in a mobile phone store in Nantes, France, Sept. 13, 2023. "We view management's flat sales guidance as proof the company cannot rely on iPhone sales to drive shares higher, as it has in the past," D.A. "In mainland China, we set a quarterly record for the September quarter for iPhone," Cook told Reuters.

Persons: Bernstein, Stephane Mahe, D.A, Davidson, Tom Forte, Tim Cook, Apple, Cook, Dan Ives, Aditya Soni, Shounak Dasgupta Organizations: Apple, Federal Reserve, U.S . National Retail Federation, Deloitte, REUTERS, Huawei, Reuters, Wedbush Securities, Thomson Locations: Nantes, France, China

☆ Debt-ridden retailer Casino Q3 sales down 5.3% as France weighs
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of French retailer?Casino?is pictured on a shopping trolley outside a?Casino?supermarket in Nantes, France, May 10, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - Debt-burdened retailer Casino (CASP.PA) said on Tuesday group sales fell 5.3% in the third quarter, as weakness in its core French market outpaced robust growth in Brazil. Consolidated group net sales fell 5.3% on a same-store basis in the third quarter to 4.562 billion euros ($4.83 billion), the retailer said in a statement. Last week, Casino reported French retail sales fell 5.6% in the third quarter year on year on a same-store basis, reflecting an 18.6% fall in hypermarket sales and an 11.5% fall in supermarket sales. At September-end, Casino's group net debt stood at 6.2 billion euros, of which 5.6 billion euros was in France and 600 million euros in Brazil.

Persons: Stephane Mahe, Daniel Kretinsky, France's, Dominique Vidalon, Tassilo Hummel, Christopher Cushing Organizations: REUTERS, Rights, Consolidated, Casino, Thomson Locations: Nantes, France, Brazil, Czech

☆ France's Atos posts lower Q3 revenue dragged by Tech Foundations unit
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsOct 26 (Reuters) - French IT company Atos (ATOS.PA) on Thursday reported lower third-quarter revenue as good performance at its Eviden division was offset by the loss-making Tech Foundations unit. Atos is in talks to sell its legacy IT division, dubbed Tech Foundations, to Czech billionaire Daniel Kretinsky, which would end its initial turnaround plan to split the group into two listed entities. Atos posted quarterly revenue of 2.59 billion euros ($2.73 billion) for the whole group, down 3% organically and 5.3% on a constant currency basis from 2.82 billion euros last year. It still expects cash burn for the year to be about 1 billion euros.

Persons: Stephane Mahe, Daniel Kretinsky, Yves Bernaert, Atos, Michal Aleksandrowicz, Milla Nissi Organizations: REUTERS, IT, Tech, supercomputing, Thomson Locations: Nantes, France, French, Czech, Eviden, Gdansk

☆ Chiamaka Nnadozie: Her father didn’t want her to play soccer. Nigerian star defied him and rewrote the record books
▼ + stars: | 2023-10-20 | by ( Michael Johnston | Amanda Davies | ) edition.cnn.com time to read: +7 min

It’s been a long, winding road from a small semi-urban town in Nigeria to the World Cup knockout stages. Cathrin Mueller/Getty Images Europe/Getty Images‘I was crying’The Nigerian goalkeeper rose to stardom after becoming the youngest-ever goalkeeper to keep a clean sheet at a Women’s World Cup back in the 2019. Only 19 years old at the time, Nnadozie played three games in France, showcasing confidence and authority on a level more commonly associated with seasoned professionals. Nnadozie saves a penalty against Christine Sinclair of Canada at the FIFA Women's World Cup. “When I saw the post, for me, I think she made a good point.”Nnadozie catches a cross while being challenged by France's Kadidiatou Diani at the 2019 Women's World Cup.

Persons: Chiamaka, –, CNN’s Amanda Davies, Nnadozie, It’s, Cathrin Mueller, ” Nnadozie, ’, Randy Waldrum’s, Christine Sinclair, Sinclair, parrying, Morgan Hancock, Alessia Russo, Frida Manuum, Wolfsburg’s Dominique Janssen, ”, ‘, Mary Earps, Chile’s Christiane Endler, France's Kadidiatou Diani, Stephane Mahe, “ Organizations: CNN, Paris FC, Nigeria, World, UEFA Women's, League, VfL Wolfsburg, Getty, ’ ” Nigeria, FIFA, England, Canada, Super Falcons, Women’s Champions League, Arsenal, Paris, Wolfsburg, Women’s, Reuters Locations: Nigeria, Wolfsburg, Germany, Europe, France, Australia, Canada, Randy Waldrum’s Nigeria, Jordan, Nnadozie, England

☆ French retailer Casino agrees initial deal to sell stake in Exito Group
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A logo of French retailerÊCasinoÊis pictured outside aÊCasinoÊsupermarket in Nantes, France, July 27, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 16 (Reuters) - Indebted French supermarket chain Casino (CASP.PA) said on Monday it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito (IMI.CN) to Grupo Calleja. Casino's board on Friday approved a pre-agreement to sell its entire stake in Almacenes Exito to Grupo Calleja, a leading grocery retailer in El Salvador, it said. Casino is in the midst of a restructuring after years of debt-fuelled acquisitions had brought it to the verge of default. The price per share may be reduced by extraordinary dividend distributions, asset transfers or similar transactions made by Exito, Casino added in a statement.

Persons: Stephane Mahe, Almacenes, Exito, Sudip Kar, Olivier Sorgho, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Grupo Calleja, Casino, Thomson Locations: aÊCasinoÊsupermarket, Nantes, France, El Salvador, Almacenes

☆ EV maker VinFast to acquire its battery maker sibling
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The logo of Vinfast is pictured at the 2022 Paris Auto Show in Paris, France October 18, 2022. REUTERS/Stephane Mahe Acquire Licensing RightsOct 11 (Reuters) - Electric-vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage. Founded in 2017 and starting to make EVs from 2021, VinFast has continuously received financial support from its founder, also Vietnam's richest man. In the short term, however, VinFast's costs are expected to increase for battery R&D and factory operations, the automaker said. After the acquisition, VinFast will acquire all rights and obligations over VinES' assets.

Persons: Stephane Mahe, VinFast Auto, Pham Nhat Vuong, VinFast, Vuong, Thuy, Thuy Le, Akash Sriram, Sriraj Kalluvila, Jonathan Oatis Organizations: REUTERS, VinFast, Vietnam's, Nasdaq, Thomson Locations: Paris, France, Indonesia, VinFast, Bengaluru, Phuong Nguyen, Hanoi

☆ Airbus confirms 55 jet deliveries in September
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 9 (Reuters) - Airbus on Monday confirmed it had delivered 55 aircraft in September, bringing the nine-month total to 488 jets. Deliveries included the first A350 for Air India, part of a batch of six originally sold to Russia's Aeroflot. Air India placed orders for 470 Airbus and Boeing jets earlier this year. Reuters reported last week that Airbus had delivered around 55 aircraft in September, unchanged from the same month of 2022. Airbus sold 23 jets in September, bringing the nine-month order tally to 1,280 jets or 1,241 after cancellations.

Persons: Stephane Mahe, Tim Hepher, Sandra Maler Organizations: Airbus, REUTERS, Rights, Air India, Aeroflot, Boeing, Reuters, Thomson Locations: Toulouse, France

☆ 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

☆ Casino shares suspended, news on debt deal expected soon
▼ + stars: | 2023-10-04 | 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 Acquire Licensing RightsPARIS, Oct 4 (Reuters) - Shares in French retailer Casino (CASP.PA) were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent. The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye. On Sept. 29, Casino extended the deadline to Oct. 3, fuelling expectations an announcement was to come this week. The consortium led by Kretinsky would end up owning between 50.4% and 53% of Casino shares.

Persons: Stephane Mahe, Daniel Kretinsky, Jean, Charles Naouri, Kretinsky, Dominique Vidalon, Tassilo Hummel, Mark Potter, Elaine Hardcastle Organizations: REUTERS, Rights, Casino, Casino's, Thomson Locations: Nantes, France, Czech, France's

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