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☆ Rupert Murdoch pulls Fox News-style channel off the air in UK after failing to build an audience
▼ + stars: | 2024-03-05 | by ( Jon Passantino | Oliver Darcy | ) edition.cnn.com time to read: +3 min

After building a global newspaper empire and witnessing the ratings and profits success of the right-wing Fox News Channel in the US, Murdoch sought to break into the UK television business, replicating the opinion-driven talk format. “A large proportion of our live viewing is already through streaming on televisions and we intend to continue to grow this. Clips will continue to be shared through social media,” Taunton said. “More and more, audiences are consuming video news and opinion online through their phones and this evolution is set to continue. “Creating professional quality, TV-like video that does well digitally – via streaming services and social media – will be the focus of future investment for all our brands, including Talk.”

Persons: Rupert Murdoch, Scott Taunton, ”, Murdoch, ” Taunton, Piers Morgan, Morgan, ” Morgan, that’s, Tucker Carlson, Don Lemon, It’s, “ Organizations: New, New York CNN, Fox News, CNN, Fox News Channel, BBC, Sky News, YouTube Locations: New York, TalkTV

☆ Nvidia CEO says he will try to prioritise Japan for AI processors
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Japan is rushing to rebuild its once world-leading semiconductor infrastructure and catch up on the development of AI technology. The graphics processing units (GPUs) made by U.S.-based Nvidia dominate the market for AI. "Demand is very high, but I promised the prime minister we will do our very, very best to prioritise Japan's requirements for GPUs," Huang told reporters at Prime Minister Fumio Kishida's official residence in Tokyo. "The semiconductor industry that Japan is now starting to grow and foster will be able to produce GPUs," Huang said. "Countries like Japan are realising that you need to own your own data, build your own AI factories and produce your own AI intelligence," he added.

Persons: Ann Wang, Jensen Huang, Huang, Fumio, Huang's, TSMC, Yoshifumi Takemoto, Rocky Swift, Chang, Ran Kim, Jamie Freed Organizations: REUTERS, Rights, Nvidia, Thomson Locations: Taipei, Taiwan, Japan, U.S, Tokyo, Hokkaido

☆ South Korea to consult China over urea export delays
▼ + stars: | 2023-12-04 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

SEOUL, Dec 4 (Reuters) - South Korea on Monday said it will consult China to prevent disruption to urea supplies after Korean companies reported the fertiliser and emissions reducing chemical was taking longer to pass through Chinese customs on its way to the peninsula. South Korea imports over 90% of its urea supply from China. In late 2021, a new Chinese export requirement aimed at increasing domestic supplies triggered panic buying among South Korean drivers of diesel cars and trucks who are required to use urea solutions to cut emissions. South Korea resorted to government rations while trying to secure alternative suppliers. Diesel cars account for about 40% of registered vehicles in South Korea.

Persons: Choi Nam, Ahn Duk, geun, Hyonhee Shin, Joyce Lee, Ed Davies, Christopher Cushing, Miral Organizations: Ministry of Trade, Industry, Energy, South, Diesel, Thomson Locations: SEOUL, South Korea, China, Korea, Vietnam, Japan, Beijing, Australia

☆ Emerging world needs climate finance and to burn coal, India says
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mukesh Gupta/File Photo Acquire Licensing RightsNEW DELHI, Nov 30 (Reuters) - Emerging economies need climate finance, help with technology and the right to pursue development, India's Prime Minister Narendra Modi said on Thursday before leaving for the UN climate summit in Dubai. The COP28 summit opened in Dubai on Thursday for two weeks of talks. Emerging powers, including India and China, often blame the developed world for having used more than its share of the available carbon resources. Earlier on Thursday, Foreign Secretary Vinay Mohan Kwatra said coal would remain India's main source of energy for years to come. "Coal is, and would, remain an important part of India's energy needs," he told reporters.

Persons: Mukesh Gupta, Narendra Modi, Vinay Mohan Kwatra, Kwatra, Sarita Chaganti Singh, Jacqueline Wong, Miral Fahmy, Barbara Lewis Organizations: REUTERS, India's, Reuters, Thomson Locations: Jammu, DELHI, Dubai, India, China, France, United States, COP28

☆ Owen Farrell: England captain to miss Six Nations, taking break from international rugby to prioritize mental health
▼ + stars: | 2023-11-30 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —England captain Owen Farrell is taking a break from international rugby “to prioritise his and his family’s mental well-being,” club side Saracens announced on Wednesday. The club said that Farrell will miss next year’s Six Nations but will continue to play for and captain Saracens. He was also the top scorer at the World Cup with 75 points. “Everyone at England Rugby is fully behind Owen’s decision,” England head coach Steve Borthwick said in a statement. Farrell led England during the team's Rugby World Cup semifinal defeat against South Africa in Paris last month.

Persons: Owen Farrell, Farrell, Jonny Wilkinson’s, Steve Borthwick, Hannah Peters, Owen, ” Farrell, Farrell’s, Andy Farrell, Borthwick, ”, Tom Curry, Franco Arland, “ Organizations: CNN, England, rugby “, Saracens, Rugby, England Rugby, South, Argentina Locations: England, South Africa, Paris, Ireland

"The released hostages are on their way to hospitals in Israel, where they will re-unite with their families," the Israel Defense Forces (IDF) said in a statement. Israel released 39 Palestinians - six women and 33 minors - from two prisons, the Palestinian news agency WAFA said. Saturday's swap follows the previous day's initial release of 13 Israeli hostages, including children and the elderly, by Hamas in return for the release of 39 Palestinian women and young people from Israeli prisons. On Friday Hamas also released a Philippine national and 10 Thai farm workers. Israel has said the ceasefire could be extended if Hamas continued to release at least 10 hostages a day.

Persons: Israel, WAFA, Srettha Thavisin, Thais, Thongkoon Onkaew, Natthaporn Onkaew, Joe Biden, Sheikh Tamim bin Hamad Al, Osama Hamdan, Majed Al, Ansari, Maya Regev, Emily Hand, Hila Rotem, Emily, Raya Rotem, Shorouk Dwayyat, Emily Rose, Bassam Masoud, James Mackenzie, Maayan Lubell, Emma Farge, Aidan Lewis, Adam Makary, Nidal, Moaz Abd, Ali Sawafta, Sybille de La Hamaide, Jeff Mason, Humeyra Pamuk, Leslie Adler, Clarence Fernandez, William Mallard Organizations: Sunday, International Committee, Israel Defense Forces, West Bank, Hamas, Reuters, Brigades, IDF, United Nations, CNN, Al, Thomson Locations: Israel Egypt, Qatar, West Bank GAZA, JERUSALEM, Israel, Gaza, Egypt, Palestinian, Rafah, Al, Bireh, Ramallah, Philippine, U.S, Sheikh Tamim bin Hamad Al Thani, Al Jazeera, Nantucket , Massachusetts

Barclays Bank logo is seen in this illustration taken March 12, 2023. As part of these 1,500 to 2,000 jobs could be cut if implemented in full, the person said. Barclays' 1 billion pound cost saving target would represent about 7% of the bank's underlying annual operating expenses of 15 billion pounds in 2022. Meanwhile, annual staff costs at BX have risen to 2 billion pounds, from 1.8 billion pounds. Barclays is "evaluating material structural cost actions", Venkat said when it reported disappointing third quarter results in October.

Persons: Dado Ruvic, C.S, Venkatakrishnan, Venkat, Sinead Cruise, Lawrence White, Alexander Smith Organizations: Barclays Bank, REUTERS, Barclays, Services, Chief, Barclays Execution Services, BX, Deutsche Bank, BNP, UBS, Reuters, Boston Consulting Group, Thomson Locations: British

☆ Explainer: What do we know about Israeli hostages in Gaza?
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +4 min

According to Israeli media and the Israeli government, up to 40 hostages being held are children, including a 10-month-old baby and preschoolers. The Israeli military said earlier this month that it recovered the bodies of two hostages in Gaza City, including 19-year-old soldier Noa Marciano. The Israeli military has said it found evidence that some hostages were held at or under hospitals. The military released video that it said also showed militants forcing two hostages into Shifa hospital on Oct. 7. Hamas released another video in October that showed three women hostages denouncing Israeli Prime Minister Benjamin Netanyahu.

Persons: Amir Cohen, Judith Raanan, Natalie Raanan, Nurit Cooper, Yocheved Lifshitz, Ori Megidish, Noa Marciano, Marciano, Lifshitz, Benjamin Netanyahu, HOW, Netanyahu, Cynthia Osterman, Deepa Babington Organizations: REUTERS, Hamas, WHO, Islamic, Israel Defence Forces, Reuters, Thomson Locations: Gaza, Tel Aviv, Israel, U.S, Thailand, Britain, France, Argentina, Germany, Chile, Spain, Portugal, Gaza City, Al Shifa, Jerusalem

☆ South Korean President to Meet UK PM Sunak for State Visit Talks
▼ + stars: | 2023-11-22 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - South Korean President Yoon Suk Yeol will meet British Prime Minister Rishi Sunak for talks on Wednesday and sign an agreement stepping up cooperation in defence, security and technology. Yoon, on a state visit to London, and Sunak will sign a Downing Street Accord which will also involve them working together on enforcing U.N. sanctions on reclusive North Korea. A conservative, Yoon has cited a "polycrisis" of global challenges as a reason for seeking closer ties with like-minded partners. South Korea on Wednesday suspended part of a 2018 military agreement with North Korea after it defied warnings from the United States and launched a spy satellite. The suspension of a clause in the agreement will see South Korea step up military surveillance along the heavily fortified border with the North.

Persons: Yoon Suk, Rishi Sunak, Yoon, King Charles, Buckingham, Charles, BLACKPINK, Alistair Smout, Joyce Lee, Nick Macfie Organizations: British, Downing, Accord, Ministers, Corio Generation, BP, Guard Locations: London, North Korea, South Korea, Buckingham, Korea, United States, Seoul

☆ China puts Country Garden on draft list of builders to support -Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.

Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong

Handout via REUTERS/File photo Acquire Licensing RightsSummaryCompanies Ozempic shortages expected throughout 2024Victoza shortages expected until at least Q2 2024Diabetes drug Ozempic used 'off label' to treat obesityNov 21 (Reuters) - Novo Nordisk (NOVOb.CO) will ration starter kits of Ozempic in Europe and reduce supplies of another diabetes drug, Victoza, to prioritise producing Ozempic, which has seen a surge in demand from people using it to lose weight. Ozempic contains semaglutide, an ingredient in Novo's hugely popular anti-obesity drug Wegovy. Intermittent Ozempic shortages are expected throughout 2024, while Victoza shortages are expected at least until the second quarter of 2024, according to the statement on the EMA's website. "No new patients should be started on Victoza until at least Q2 2024 when supply is expected to normalise," Novo urged doctors in the document. It also told doctors to consider other injectable GLP-1 drugs or "other suitable alternatives" where Ozempic or Victoza are not available for patients.

Persons: Ozempic, hasn't, Novo, Eli Lilly's, tirzepatide, Ludwig Burger, Eva Mathews, Emelia Sithole, Mark Potter Organizations: Handout, REUTERS, Diabetes, Novo Nordisk, European Medicines Agency, EU, Thomson Locations: Novo, London, Britain, Europe, Danish, United States, France, Austria, Belgium, Germany, Wegovy, Norway, Denmark, EU

Revenue for the quarter ended Sept. 30 was 34.45 billion yuan ($4.72 billion), compared with analysts' estimates of 34.33 billion yuan, according to LSEG data. Baidu has in recent years focused increasingly on AI, creating a self-driving vehicle and investing heavily in generative AI, which is capable of creating text, images and other media. Baidu's Chief Financial Officer Rong Luo said the firm will continue to prioritise AI investments, especially in generative AI and foundation models, to power its growth. Baidu's online marketing revenue rose 5% in the third quarter to 19.7 billion yuan. During the quarter, Baidu reported adjusted net income of 7.27 billion yuan, up 23% from 5.89 billion yuan for the same period last year.

Persons: Tingshu Wang, Ernie, Rong Luo, Luo, Alibaba, Yuvraj Malik, Varun H, Miral Fahmy, Sharon Singleton Organizations: Baidu, REUTERS, HK, Tuesday, International Monetary Fund, Nvidia, Reuters, Huawei, Thomson Locations: Beijing, China, Washington, Bengaluru, Yelin Mo

☆ Ukraine suspects lawmaker of first-ever cryptocurrency bribe
▼ + stars: | 2023-11-21 | by ( Dan Peleschuk | ) www.reuters.com time to read: +1 min

KYIV, Nov 21 (Reuters) - Ukrainian investigators suspect a lawmaker of trying to bribe the head of a government reconstruction agency in the country's first-ever documented cryptocurrency kickback, authorities said on Tuesday. The bureau did not name the official, who was served by prosecutors with an official notice of suspicion. The head of Ukraine's State Agency for Restoration and Infrastructure Development reported the bribe to authorities after receiving the first $10,000 tranche, NABU said. "This is the first illegal benefit in cryptocurrency in the history of (Ukraine's) anti-corruption institutions that has been documented," the agency said in a statement. In a statement on Facebook, the state reconstruction agency said zero tolerance of graft was "a key principle" of its work.

Persons: NABU, Semen Kryvonos, Dan Peleschuk, Nick Macfie Organizations: Ukraine's State Agency for Restoration, Infrastructure Development, European Union, Reuters, Facebook, Thomson Locations: Ukraine, bitcoin, cryptocurrency

☆ UK PM Sunak promises tax cuts after meeting his inflation pledge
▼ + stars: | 2023-11-20 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

Under pressure from within his traditionally low-tax Conservative Party, Sunak said his government needed to prioritise lowering the tax burden but stressed he would not repeat the unfunded tax cut plan that his predecessor Liz Truss announced last year, triggering turmoil in bond markets. Sunak said the government would cut taxes over time and would not do anything that added to inflation. "You can trust me when I say we can responsibly start to cut taxes," he said. Conservative lawmakers have long called on Sunak to cut taxes to help reduce the gap in the opinion polls with the opposition Labour Party before an election expected next year. Blowing tens of billions of pounds on unfunded spending is just as dangerous as blowing tens of billions of pounds on unfunded tax cuts," he said.

Persons: Rishi Sunak, Jeremy Hunt, Sunak, Liz Truss, Hunt, Sarah Young, Alistair Smout, William Schomberg, Kylie MacLellan, Kate Holton, Christina Fincher Organizations: British, Conservative Party, Data, Conservative, Labour Party, Thomson Locations: Rwanda

☆ How well-off Brits still buy Ozempic online for weight loss
▼ + stars: | 2023-11-18 | by ( Maggie Fick | ) www.reuters.com time to read: +12 min

NHS diabetes patients – including Gradwell, who went for weeks without full medication – pay nothing for their medication. The shortage persists even after Ozempic's manufacturer Novo Nordisk (NOVOb.CO) launched Wegovy, a semaglutide drug solely for weight loss, in September. Rightangled told Reuters it is within its rights to continue to prescribe Ozempic for weight loss. Two had stopped offering it for weight loss by October, but Rightangled continued to make it available as of Nov. 17, Reuters found. He said his oncologist said that while he could not prescribe Ozempic, it would be good for his health if he took it for weight loss.

Persons: Kim Gradwell, –, John, it's, Rightangled, Gradwell, Penny Ward, I've, Abdullah Sabyah, Ward, Juniper, Ben, Doctors, Novo, Ozempic, semaglutide, prescribers, Rightangled's Sabyah, Tyne wasn't, Gradwell's, Yaasir Mamoojee, We've, Maggie Fick, Marine Strauss, Charlotte Van Campenhout, Chad Terhune, Sara Ledwith, Josephine Mason Organizations: Diabetes, National Health Service, Novo Nordisk, King's College, Department of Health, Social Care, John, Reuters, Oxford University ., NHS, Alliance Healthcare, Alliance, Diabetes UK, NICE, semaglutide, Oxford University, General Pharmaceutical Council, Tyne, Thomson Locations: Dudley , North Tyneside, Britain, Novo, United States, London, U.S, England, Europe, Ozempic, Newcastle, Brussels, Los Angeles

☆ UK lender Nationwide reports record first-half member benefits
▼ + stars: | 2023-11-17 | by ( Lawrence White | ) www.reuters.com time to read: +1 min

Signage is seen outside of a Nationwide Building Society in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - Nationwide Building Society (NBS.L) reported record benefits for its customers in the first half of its financial year, including a 344 million pound ($425.94 million) payout and 885 million pounds of incentives on products below market rates. The country's largest building society made 100 pound transfers into the current accounts of 3.4 million members in May, paying longstanding customers some of its profits from rising interest rates. The member-owned lender, which competes with Britain's big banks but does not have to prioritise shareholder returns, on Friday said profit for the six months to Sept. 30 rose to 989 million pounds from 969 million pounds a year earlier. ($1 = 0.8076 pounds)Reporting by Lawrence White Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Hannah McKay, Lawrence White, David Goodman Organizations: Building Society, REUTERS, Nationwide, Thomson Locations: London, Britain

☆ UK insurer Aviva posts 13% rise in nine-month premiums
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

A man walks past an AVIVA logo outside the company's head office in the city of London March 5, 2009. REUTERS/Stephen Hird (BRITAIN)/File Photo Acquire Licensing RightsLONDON, Nov 16 (Reuters) - British insurer Aviva (AV.L) on Thursday posted a 13% rise in its general insurance gross written premiums for the first nine months of the year, saying it would continue to return surplus capital to shareholders. Insurers have dealt with issues such as rising inflation and the higher cost of claims by increasing premiums. The life and general insurer, whose main markets are Britain, Canada and Ireland, reported premiums of 8 billion pounds ($9.91 billion), up from 7.2 billion a year earlier. "We see significant opportunities to generate further higher return, capital-light growth in the future as we prioritise these segments."

Persons: Stephen Hird, Amanda Blanc, Blanc, Eva Mathews, Carolyn Cohn, Huw Jones, Sherry Jacob, Phillips, Jason Neely Organizations: AVIVA, REUTERS, Aviva, RSA, Reuters, Thomson Locations: London, BRITAIN, British, Britain, Canada, Ireland, Bengaluru

All three candidates vying to win the Feb. 14 election in Southeast Asia's largest economy have said they will prioritise cleaning up the power sector to reduce greenhouse gas emissions. To do that, Defence Minister Prabowo Subianto and former provincial governor Ganjar Pranowo, running neck-and-neck in recent surveys, would consider ending state-run Perusahaan Listrik Negara's (PLN) monopoly in order to allow renewable power producers to sell directly to customers. Former Jakarta governor Anies Baswedan, trailing in opinion polls, has called for improved leadership for the power sector but has not proposed breaking up PLN's monopoly. Proponents argue that opening the sector would accelerate adoption of renewables, as independent power producers will be incentivised to offer green power to companies pledging carbon neutrality. Agam, from the climate consultancy, said delaying renewable power to companies could mean lost investment.

Persons: Prabowo Subianto, Dita Alangkara, Ganjar Pranowo, Anies Baswedan, Agam Subarkah, Alexander Sonny Keraf, PLN, Prabowo, Eddy Soeparno, Soeparno, Gayatri Suroyo, Ananda Teresia, Stefanno Sulaiman, Stanley Widianto, Tony Munroe, Miral Organizations: Indonesia's Defense, Association of Southeast Asian Nations, ASEAN, REUTERS Acquire, Rights, Reuters, Defence, Former Jakarta, Cendekia, POWER WHEELING Ganjar, Thomson Locations: Jakarta, Indonesia, Rights JAKARTA, Southeast Asia's

☆ Fierce e-commerce war leaves Sea in stormy waters
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

In August, CEO Forrest Li declared that Sea (SE.N) would ramp up spending to fight off intense competition. Perhaps that’s because Sea had just reset its strategy over the past year. It had retreated from overseas markets, slashed marketing costs and shed thousands of jobs to claw its way to profitability. Li on Tuesday stressed that the company would prioritise investments to increase its market share, encouraged by its cash pile of about $8 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Forrest Li, Li, taints, Cameron, Francesco Guerrera, Thomas Shum Organizations: Reuters, Alibaba, HK, X, Thomson Locations: SINGAPORE, New York, Singapore

☆ Japan has become a gold mine for value investors
▼ + stars: | 2023-11-10 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

Having experienced a multi-decade decline after 1990, Japanese stocks have escaped the doldrums. Reuters GraphicsAnother shadow that has long lingered over corporate Japan is management teams which tended to neglect shareholders and prioritise the interests of other stakeholders. METI is also redefining the aim of Japanese companies, says Stephen Codrington, founder of the independent research firm Codrington Japan. Japan, whose regime was formerly unfriendly to equity investors, is moving in the opposite direction, says Drew Edwards, head of GMO Usonian Japan. Japan, as Codrington says, has become a gold mine for value investors.

Persons: Jeremy Siegel, “ Stocks, It's, Alex Kinmont, James Montier, METI, Stephen Codrington, Codrington, Toby Rodes, Edward McQuarrie, McQuarrie, Drew Edwards, there’s, Warren Buffett, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Investors, Credit Suisse Global Investment, Nikkei, U.S ., Local, Credit Suisse, Ministry, Economy, Trade, Industry, Electronics, Hitachi, Fujitsu, Investment, Toyota, Investment Fund, Tokyo Stock Exchange, Kaname, Takisawa Machine Tool, managements, Toyota Industries, Santa Clara University, U.S, Thomson Locations: Japan, U.S, Europe, Codrington Japan, United States

☆ Germany pledges to make its military 'the backbone of defence in Europe'
▼ + stars: | 2023-11-09 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

REUTERS/Wolfgang Rattay/File... Acquire Licensing Rights Read moreBERLIN, Nov 9 (Reuters) - Germany will strengthen its military to make it the backbone of deterrence and collective defence in Europe, its defence minister pledged on Thursday as Berlin issued new defence policy guidelines for the first time in over a decade. The 19-page document details what the "Zeitenwende" - the major shift of policy German Chancellor Olaf Scholz announced after Russia's invasion of Ukraine in February 2022 - means for the workings of the Bundeswehr. "With the Zeitenwende, Germany becomes a grown up country in terms of security policy," Defence Minister Boris Pistorius said as he presented the guidelines, the first since 2011 when Berlin suspended conscription. "As the most populous and an economically strong country at the heart of Europe, Germany must be the backbone of deterrence and collective defence in Europe," Pistorius said. German forces needed to be refocused on their core mission -the credible defence of Germany and its allies - and be "ready to fight a war", he said.

Persons: Olaf Scholz, Wolfgang Rattay, Boris Pistorius, Pistorius, Sabine Siebold, Toby Chopra, Ed Osmond Organizations: Patriot, Bonn Air Force, Territorial Command, Bundeswehr, REUTERS, Berlin, Thomson Locations: Cologne, Wahn, Germany, BERLIN, Europe, Ukraine, Berlin, prioritise, Lithuania

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBENGALURU, Nov 9 (Reuters) - Wipro (WIPR.NS) may skip giving hikes to "top performers with higher compensation" in its largest business line in the upcoming round of salary revisions in December, according to an internal memo seen by Reuters. Wipro will prioritise employees with lower compensation among those eligible for a raise, Bandaru highlighted, adding that "top performers with higher compensation may not be covered in this cycle". Wipro, which had 244,707 employees as of Sept. 30, had already delayed its salary hike cycle. Some industry watchers said the move echoed a larger trend in the tech industry as it tried to address pay inequities among regions and cut payroll costs. While Infosys (INFY.NS) delayed giving hikes by two quarters, HCL (HCLT.NS) skipped hikes for managers.

Persons: Dado, Peter Bendor, Samuel, Ray Wang, Sai Ishwarbharath, Haripriya Suresh, Dhanya Skariachan Organizations: Wipro, REUTERS, Rights, Reuters, Employees, Wipro Enterprise, Everest Group, ”, Infosys, HCL, Thomson Locations: Bengaluru

☆ Adidas sees Samba shoes driving more interest from retailers
▼ + stars: | 2023-11-08 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Inventory levels were down 23% year-on-year at 4.85 billion euros ($5.18 billion), a little more than expected, Adidas said. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, helped by reduced freight costs and fewer discounts. "Adidas' competitive position compared to Nike is improving," said Robert Schramm-Fuchs, portfolio manager at Janus Henderson, which holds Adidas shares. "Adidas needs to earn back the shelf space, but I think they have the right product to do it," he said. Adidas' sales in Greater China grew by 5.7% in currency-adjusted terms, a slowdown after growth of 16.4% in the second quarter.

Persons: Tingshu Wang, Bjorn Gulden, Kanye West, Ye, Spezial, Gulden, Robert Schramm, Fuchs, Janus Henderson, Schramm, Adam Cochrane, Miranda Murray, Helen Reid, Maria Sheahan, Sherry Jacob, Phillips, Catherine Evans Organizations: Adidas, REUTERS, Apparel, Nike, Deutsche Bank . Currency, Reuters Graphics, Thomson Locations: Beijing, China, United States, North America, Greater China, Berlin

The results show how Australia's retail banks are leaning into businesses outside their traditional earnings engine of mortgages as higher interest rates raise the cost of repayments, spurring competition which has flattened profit margins. Sydney-listed Westpac said profit from its consumer division, which has just over one-fifth of Australian mortgages, shrank 7% in its full-year to end-September. Westpac gave no profit forecasts but said April-to-September trading was "more challenging" than the previous six months and "this is expected to continue into 2024". "If that does eventuate, interest rates will probably need to be higher than what we're thinking," he said on a call with analysts and media. Westpac declared a final dividend of 72 Australian cents per share, up from 64 Australian cents a year earlier.

Persons: David Gray, Azib Khan, Peter King, We've, Byron Kaye, Roushni Nair, Upasana Singh, Andrew Heavens, Josie Kao, Aurora Ellis Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac, Commonwealth Bank, National Australia Bank, ANZ, Sydney, midsession, P Capital, Thomson Locations: Sydney, Australia, Ukraine, Bengaluru

The funds available for deals are growing as investors including pension funds, sovereign wealth and insurance firms look for meaty returns hard to find in today's equity markets, especially in the beaten-down real estate sector. Australian real estate specialist Qualitas (QAL.AX), whose backers include the Abu Dhabi Investment Authority, has nearly doubled funds under management to A$8 billion ($5.07 billion) since mid-2022, with roughly half the increase since this June. U.S.-based PGIM Real Estate expects to deploy a further $1 billion in the country over the next few years, said its head of Australian real estate Steve Bulloch. Lenders are expanding into residential and commercial construction as banks slow lending or exit, a March report from the Reserve Bank of Australia (RBA) said. JUICY RETURNSInvestors can expect returns from 9% to 11% with the added security of loans pledged against real assets like condos or warehouses, often with a 30% to 40% equity buffer, said Paul Notaras, executive director at Barings Real Estate Australia.

Persons: Stella Qiu, meaty, Steve Bulloch, JUICY, Paul Notaras, Notaras, Qualitas, Andrew Schwartz, Bonds, We've, Schwartz, Lewis Jackson, Rae Wee, Jamie Freed Organizations: REUTERS, Abu, Abu Dhabi Investment Authority, Commonwealth Bank, National Australia Bank, Westpac, ANZ Group, International Monetary, Reserve Bank of Australia, Australia, prudential, Reuters Graphics Reuters, Thomson Locations: Parramatta, Sydney, SYDNEY, Australian, Abu Dhabi, Australia, Qualitas, Singapore

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