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China's Premier Li to Address Davos as Its Economy Struggles
  + stars: | 2024-01-16 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
By Antoni SlodkowskiDAVOS, Switzerland (Reuters) - Chinese Premier Li Qiang is set to address global investors and politicians in Davos on Tuesday, as Beijing grapples with a sluggish post-pandemic recovery and a real estate slump. Li, who leads a large government delegation at this week's World Economic Forum, is the most senior Chinese official to rub shoulders with global business and political elites at the Swiss ski resort of Davos since President Xi Jinping in 2017. He would "promote global cooperation, address various risks, bridge the development divide, and seek peaceful coexistence and win-win outcomes", Chinese state news agency Xinhua reported. "China is generating a steady stream of growth momentum and potential for its economy," Xinhua's report added. Li, a career bureaucrat, was revealed as the pick for China's No.2 role last October when Xi unveiled a leadership line-up stacked with loyalists.
Persons: Antoni Slodkowski, Li Qiang, Li, Xi Jinping, Xi, Antony Blinken, Wang Yi, Volodymyr Zelenskiy's, Zelenskiy, Alexander Smith Organizations: Economic, Xinhua, China's, U.S Locations: Antoni Slodkowski DAVOS, Switzerland, Davos, Beijing, China, Swiss, consultancies, Gaza
DUBAI, Dec 5 (Reuters) - U.S. special climate envoy John Kerry on Tuesday launched an international engagement plan to boost nuclear fusion, saying the emissions-free technology could become a vital tool in the fight against climate change. Kerry said the plan involved 35 nations and would focus on research and development, supply chain issues, and regulation, and safety. "There is potential in fusion to revolutionize our world," Kerry told the COP28 climate summit in Dubai. U.S. Special Presidential Envoy for Climate John Kerry participates in an event on women's role in building a climate-resilient world, at COP28 World Climate Summit, in Dubai, United Arab Emirates, December 4, 2023. Of the two main types of fusion, one uses lasers to concentrate energy on a gold pellet containing hydrogen.
Persons: John Kerry, Kerry, Amr Alfiky, Valerie Volcovici, Richard Valdmanis, William James, Alexander Smith Organizations: Dubai . Fusion, United Arab Emirates, REUTERS, Thomson Locations: DUBAI, Dubai, U.S, United Arab, Britain, United States, Australia, China, Germany, Japan, California
Dec 5 (Reuters) - Eli Lilly (LLY.N) on Tuesday said its recently approved obesity treatment Zepbound is now available in U.S. pharmacies and could cost $550 a month for customers whose health insurance does not cover the drug, or half the list price. Wall Street analysts expect sales of Zepbound to reach about $2 billion in 2024, and for sales of Novo Nordisk's (NOVOb.CO) rival obesity drug Wegovy to hit around $7.5 billion. An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. When the U.S. Food and Drug Administration approved Zepbound in November, Lilly said it would launch after the U.S. Thanksgiving holiday. Lilly's obesity drug has the same active ingredient, tirzepatide, as its previously approved diabetes drug Mounjaro, which has been used off-label for weight loss since its 2022 launch.
Persons: Eli Lilly, Wegovy, danuglipron, Zepbound, Lilly, Mike Segar, Eli Lilly's, Patrick Wingrove, Manas Mishra, Khushi, Arun Koyyur, Alexander Smith, Bill Berkrot Organizations: Wall Street, Novo, Pfizer, Company, REUTERS, CVS, U.S . Food, Drug Administration, U.S, Thomson Locations: U.S, Branchburg , New Jersey, Indianapolis, New York, Bengaluru
REUTERS/Yves Herman/File Photo Acquire Licensing RightsDUBAI, Dec 5 (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.
Persons: Yves Herman, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: REUTERS, Rights, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European, Thomson Locations: Dunkirk, France, India, China, Paris, COP28, Helsinki, U.S, European Union, Europe
In this year's gleaming host city of Dubai, billboards advertise the benefits of wind energy, climate ambition and Exxon Mobil's (XOM.N) carbon capture projects. This is seen by some as a sign of success and by others as a dangerous distraction from the business of combating climate change as over nearly three decades global oil demand, carbon emissions and temperatures have marched steadily upward. "It's a lobby fest where polluters can schmooze with politicians, all under the guise of tackling climate change," Pascoe Sabido, a researcher at the Corporate Europe Observatory, which scrutinizes corporate influence on policy-making, said. Delegates walk at the Dubai's Expo City during the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 4, 2023. For daily comprehensive coverage on COP28 in your inbox, sign up for the Reuters Sustainable Switch newsletter here.
Persons: Exxon Mobil's, Pascoe Sabido, Alden Meyer, Meyer, Lisa Jacobson, Jacobson, Thaier, We're, , Daniel Lund, Joko Widodo, COP28, Jake Schmidt, Darren Woods, General Antonio Guterres, Al Gore, Valerie Volcovici, Katy Daigle, Kate Abnett, Sarah McFarlane, Bernadette Christina, Richard Valdmanis, Alexander Smith Organizations: Exxon, Corporate, Observatory, United Nations, Business Council, Sustainable Energy, Global Strategic Communications Council, Change, United Arab Emirates, REUTERS, Natural Resources Defense, Exxon Mobil, Drillers, U.S, Reuters, Thomson Locations: DUBAI, Dubai, Berlin, The Hague, COP28, United Arab, Fiji, Indonesia, China, UAE
These are due to be implemented in 18 months and include addressing EV charging station power shortages. The ease of building an EV charging hub varies considerably country by country. To do so, it will ban sales of CO2-emitting vehicles from 2035 and wants to develop a network of EV charging stations. "Sometimes we have to send physical mail," said Peter Badik, co-founder of EV charging firm Greenway Network, which has set up 1,300 EV chargers in Slovakia, Croatia and Poland. "There is a clear need for more standardisation (of requirements for charging hubs)," BP's van Dobschuetz added.
Persons: Repsol, It's Kafka, Lucie Mattera, Mattera, Miguel Stilwell de Andrade, Peter Badik, Stefan van Dobschuetz, Dobschuetz, ChargeUp Europe's Mattera, Julia Payne, Alexander Smith Organizations: European Union, European Commission, EV, Reuters, Industry, Greenway Network, BP Pulse, Thomson Locations: BRUSSELS, Germany, Spain, Europe, EU, Slovakia, Croatia, Poland
By Kate AbnettDUBAI (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.
Persons: Kate Abnett DUBAI, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: Reuters, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European Locations: India, China, Paris, COP28, Helsinki, U.S, European Union, Europe
A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.
Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid
Foundation models like the one built by Microsoft (MSFT.O)-backed OpenAI are AI systems trained on large sets of data, with the ability to learn from new data to perform various tasks. In a meeting of the countries' economy ministers on Oct. 30 in Rome, France persuaded Italy and Germany to support a proposal, sources told Reuters. Until then, negotiations had gone smoothly, with lawmakers making compromises across several other conflict areas such as regulating high-risk AI, sources said. France-based AI company Mistral and Germany's Aleph Alpha have criticised the tiered approach to regulating foundation models, winning support from their respective countries. Other pending issues in the talks include definition of AI, fundamental rights impact assessment, law enforcement exceptions and national security exceptions, sources told Reuters.
Persons: Carlos Barria, Thierry Breton, Geoffrey Hinton, Alpha, Mistral, Mark Brakel, Supantha Mukherjee, Josephine Mason, Alexander Smith Organizations: Technology, Intelligence, REUTERS, Rights, Reuters, Foundation, Microsoft, European Commission, Mistral, Lawmakers, Life Institute, Thomson Locations: San Francisco, California, U.S, Rights STOCKHOLM, BRUSSELS, LONDON, France, Germany, Italy, Rome, Spain, Belgium, Stockholm
"It is hard to understand how the ECB ended up buying the bonds of property companies, while at the same time warning of the risks of property price inflation," former ECB chief economist Otmar Issing told Reuters. But data this week shows the central bank still owned the two bonds issued by SBB as of Nov. 24. While Sweden is not in the euro zone, SBB issued the debt bought by the ECB in neighbouring Finland, which is. Alongside the SBB bonds, the ECB also hoovered up the debt of other property companies which have since hit problems, including Sweden's Heimstaden. The ECB also gobbled up many German real estate bonds, including 39 issued by Vonovia, which has been selling property to cut debt.
Persons: Otmar Issing, Daniel Gros, Gros, Sweden's, Heimstaden, it's, Alexander Smith Organizations: SBB, European Central Bank, ECB, Reuters, Research, Institute, European, Bocconi University, Fitch, Vonovia, Thomson Locations: FRANKFURT, Europe, Germany, Sweden, Milan, Swedish, Finland
The euro zone and the International Monetary Fund (IMF) together lent Greece more than 260 billion euros during its decade-long debt crisis which began in late 2009, in exchange for tough austerity measures. Last year, it paid off the IMF, which provided it with 28 billion euros between 2010 and 2014 - two years ahead of schedule. Euro zone countries lent Greece 53 billion euros in bilateral so-called Greek Loan Facility (GLF) loans during its first bailout, with maturities extending to 2041. With the planned payment this year, Greece will have repaid a total of about 13 billion euros. It has a liquidity buffer of more than 35 billion euros due to higher than expected tax revenues, strong growth and primary surpluses.
Persons: Dado, Lefteris Papadimas, Alexander Smith Organizations: Rights, Reuters, International Monetary Fund, IMF, Loan, Thomson Locations: Greece, bailouts
Paris metro ticket price to double during 2024 Olympics
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 28 (Reuters) - Paris metro ticket prices will almost double during the 2024 Olympics, the French capital region's president said on Tuesday, adding that residents with passes would be shielded from the temporary rise and visitors would be charged "a fair price". "During the Olympics and the Paralympics, the Ile de France region will dramatically increase its transport offer. "We're going to create a new pass, the Paris 2024 pass, that will allow visitors to travel through the whole Ile de France region. Last week, Paris mayor hit out at Pecresse, saying the French capital would not be ready in terms of transport. Pecresse said that it was crucial that the Paris region residents be spared.
Persons: Gonzalo Fuentes, Valerie Pecresse, Pecresse, Clement Beaune, it's, Julien Pretot, Lucien Libert, Alexander Smith, Pritha Organizations: French, REUTERS, Rights, Paris, Thomson Locations: Paris, France, Pecresse
REUTERS/Aly Song/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - M&G Real Estate (MNG.L) forecasts it is "a matter of time" before global property markets face greater volumes of forced selling, with banks increasingly reluctant to refinance troubled or lower quality assets at current interest rates. "We are in a new period of real estate investment that will require a new mindset," he told Reuters before the publication of the firm's Global Real Estate Outlook on Tuesday. Nearly 40% of outstanding British commercial real estate loans are due to mature in 2024 and 2025, where average real estate values have fallen by over 20% since mid-2022, the report said, citing data from Bayes Business School. "Real estate debt is becoming an increasingly attractive investment proposition," Pellicer said. U.S. office-based working is at only 50% of pre-pandemic levels, the report cited real estate services firm JLL (JLL.N) as estimating, while numbers in Europe have recovered to 75%.
Persons: Aly, Jose Pellicer, Pellicer, G, Carolyn Cohn, Sinead Cruise, Alexander Smith Organizations: REUTERS, G, Reuters, Bayes Business, Thomson Locations: Shanghai, China, Germany, Sweden, Europe, United States, Asia
[1/2] Ukrainian servicemen move past a burning car hit by a kamikaze drone outside the front line town of Avdiivka, amid Russia's attack on Ukraine, in Donetsk region, Ukraine November 8, 2023. In his nightly video address, Zelenskiy said relentless, intense battles were ongoing in the eastern regions of Donetsk and Kharkiv, while "extremely challenging weather" was affecting areas from Kyiv region in the north to Odesa in the south. In Russian-controlled territory, Oleg Kryuchkov, a senior Moscow-installed official, said nearly half a million people were without power in Crimea, the peninsula Russia annexed in 2014. Ukraine's border service said Moldova had temporarily suspended vehicle access to its territory from two crossing points in Odesa region. Moldovan authorities also asked local schools to consider closing due to snowfall and high winds.
Persons: Nuzhnenko, Volodymyr Zelenskiy, Ukraine's, Zelenskiy, Oleg Kryuchkov, Henadii Trukhanov, Oleksandr Kozhukhar, Alexander Tanas, Elaine Monaghan, Alexander Smith, David Gregorio Our Organizations: servicemen, Radio Free, Radio Liberty, REUTERS Acquire, Rights, Odesa, Thomson Locations: Avdiivka, Ukraine, Donetsk region, Radio Free Europe, Donetsk, Kharkiv, Kyiv, Odesa, Moscow, Crimea, Russia, Sevastopol, Kherson, Moldova, Odesa region, Chisinau, Washington
View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsFRANKFURT, Nov 26 (Reuters) - German logistics entrepreneur Klaus-Michael Kuehne is examining a takeover of Signa Group's abandoned Elbtower high-rise project in his hometown of Hamburg, Handelsblatt reported. Discussions on the takeover by Kuehne are quite advanced, but no decision has been made, German newspaper Handelsblatt reported, citing a source. Signa, owner of New York's Chrysler Building and Britain's Selfridges store, and spokespeople for Kuehne and the city of Hamburg did not respond to requests for comment on Sunday. This led to the insolvency of its subsidiary Signa Real Estate Management Germany on Friday, Spiegel magazine reported.
Persons: Rene Benko’s Signa, Fabian Bimmer, Klaus, Michael Kuehne, Group's, Handelsblatt, Signa, Kuehne und Nagel, Hapag Lloyd, René Benko, Emma, Victoria Farr, Alexander Smith Organizations: REUTERS, Rights, Kuehne, Lufthansa, Chrysler, Real Estate Management, Spiegel, Thomson Locations: Hamburg Germany, Hamburg, Austrian, Real Estate Management Germany, Signa, Germany
Qatari intelligence officers arrived on Saturday for an indefinite stay in Israel, the official said, adding that cooperation between the agencies is "traditionally close", despite the lack of formal relations between the countries. A Qatari delegation travelled to Israel on Saturday to discuss a possible extension to the truce, another official told Reuters on Saturday, but it was unclear if intelligence officials were involved in the talks. Gas-rich Gulf state Qatar hosts several top Hamas officials and the group's political office. Qatar also has cordial relations with Iran, Israel's arch-foe, which backs Hamas. Writing by Dan Williams and Andrew Mills; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: Dan Williams, Andrew Mills, Alexander Smith Organizations: Hamas, Prime, Office, Qatari, Sunday, Reuters, ", Thomson Locations: Israel, Palestinian, Gaza, JERUSALEM, Doha, Qatar, Iran
"We hoped and prayed today would come," Liz Hirsh Naftali and Noa Naftali, Edan's great aunt and cousin, said in a statement, thanking Biden and the Qatari government for their work in getting Abigail released. Her siblings were already there, Noa Naftali said, and the family can provide "the love and support that they need after losing their parents." According to Noa Naftali, Abigail had been held captive in Gaza with neighbors also taken from the Kfar Aza kibbutz, where the toddler, her parents and her siblings lived. Biden said he expects Hamas to release other U.S. hostages as well, and that he wants the pause in the fighting to be extended as long as prisoners are being released. "We will not stop working until every hostage is returned to their loved ones," Biden said.
Persons: Amir Cohen, Joe Biden, Abigail Edan, Abigail, Israel, Biden, Liz Hirsh Naftali, Noa Naftali, Edan's, Carmel Edan, he's, Aza, , Judith Tai Raanan, Natalie, Benjamin Netanyahu, Jeff Mason, Andy Sullivan, Moira Warburton, Jason Lange, Steve Gorman, David Goodman, Alexander Smith, Mark Porter, Josie Kao Organizations: Palestinian, Hamas, REUTERS, Rights, CBS, Qatari, Reuters, Sunday, Thomson Locations: Gaza, Ofakim, Israel, Rights NANTUCKET , Massachusetts, Israeli, Palestinian, United States, Nantucket, Washington, Buffalo , NY
A satellite image shows Al-Ahli hospital, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Gaza November 7, 2023. The explosion at the Al-Ahli hospital triggered outrage across the Arab world. Palestinians blamed an Israeli air strike, while Israel said it was caused by a misfiring Palestinian rocket launch. The Al-Ahli hospital blast was one of the most fiercely disputed incidents in a war marked by accusations from both sides of disinformation and war crimes. Palestinians accuse Israel of targeting hospitals and schools, while Israel says Hamas uses ordinary Gazans as human shields by placing military positions in civilian buildings.
Persons: Israel, Basem Naim, Emmanuel Nahshon, Naim, Ida Sawyer, Emma Farge, Nick Macfie, Giles Elgood, Alexander Smith Organizations: Hamas, Maxar Technologies, REUTERS, Rights, Rights Watch, Al, Ahli Arab Hospital, HRW, Israel's Foreign Ministry, Authorities, Hospitals, Thomson Locations: Ahli, Israel, Palestinian, Gaza, Al
JERUSALEM (Reuters) - Israel's Mossad intelligence service is hosting its Qatari counterparts to confer on the recovery of hostages held by Hamas and other elements of a Gaza truce that was mediated by Doha, an Israeli security official said on Sunday. Qatari intelligence officers arrived on Saturday for an indefinite stay in Israel, the official said, adding that cooperation between the agencies is "traditionally close", despite the lack of formal relations between the countries. A Qatari delegation travelled to Israel on Saturday to discuss a possible extension to the truce, another official briefed on the visit told Reuters on Saturday, but it was unclear if intelligence officials were involved in the talks. Gas-rich Gulf state Qatar hosts several top Hamas officials and the group's political office. Qatar also has cordial relations with Iran, Israel's arch-foe, which backs Hamas.
Persons: Dan Williams, Andrew Mills, Alexander Smith Organizations: Qatari, Sunday, Reuters, . Locations: JERUSALEM, Gaza, Doha, Israel, Qatar, Iran
Cargo ship sinks off Greek island, one dead, 12 missing
  + stars: | 2023-11-26 | by ( ) www.reuters.com   time to read: 1 min
ATHENS, Nov 26 (Reuters) - One person has died and 12 people were missing on Sunday after a cargo ship carrying salt with 14 crew on board sank off the island of Lesbos, the Greek coast guard said. The Comoros-flagged "Raptor" had departed from El Dekheila port in Egypt and was bound for Istanbul when it reported a mechanical failure and issued a distress call early on Sunday, the coast guard added. "One body recovered from the area," a coast guard official told Reuters adding that one person was rescued by helicopter and was taken to the island's hospital. Eight of the crew were Egyptians and the rest were Syrian and Indian nationals. Reporting by Lefteris Papadimas; Writing by Renee Maltezou; Editing by Jan Harvey, David Goodman and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: Lefteris Papadimas, Renee Maltezou, Jan Harvey, David Goodman, Alexander Smith Organizations: Reuters, Thomson Locations: ATHENS, Lesbos, Comoros, El Dekheila, Egypt, Istanbul
Wilders, who is now trying to build a governing coalition, has vowed to close Dutch borders to immigrants and cut spending on climate change, cultural and foreign development programmes. "I feel sad about the election results ... And I'm really worried about our country," said Sara Coster. Another demonstrator, Jan Jaap van Oosterzee, 62, said he felt Wilders' win was "against every thing we're standing for, and that I'm personally standing for". Wilders party "stands for exclusion of my colleagues, of my children, of denying climate change," he said. Muslims, who make up around 5% of the Dutch population of almost 18 million people, have expressed shock at the election result.
Persons: Geert Wilders, Wilders, I'm, Sara Coster, Jaap van Oosterzee, Oosterzee, Toby Sterling, Alexander Smith Organizations: Social, Freedom Party, Amnesty International, Greenpeace, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, Solidarity
[1/2] General view of an area near to the evacuated town of Grindavik, in Iceland, November 17, 2023. REUTERS/Marko Djurica/ File photo Acquire Licensing RightsCOPENHAGEN, Nov 24 (Reuters) - Icelandic authorities said on Friday they were still on alert for a volcanic eruption in the southwest Reykjanes peninsula, although the odds were falling after a drop in seismic activity. Iceland has been living with a high risk of an eruption since seismic activity and underground lava flows increased in the region near the capital Reykjavik in late October. "Seismic activity continues to decrease," it said, adding that "the likelihood of eruption decreases over time". Five ministers from the Icelandic parliament visited Grindavik on Friday, where evacuated residents have been allowed back since Thursday to pick up more personal belongings.
Persons: Marko Djurica, RUV, Vidir Reynisson, Johannes Birkebaek, Alexander Smith Organizations: REUTERS, Rights, Thomson Locations: Grindavik, Iceland, Reykjavik, Hagafell
MADRID, Nov 24 (Reuters) - The Bank of Spain has asked for detailed information after recent disruptions to the country's payments network, a source close to the central bank said. Customers complained on social media about failed ATM withdrawals and credit card payments on Nov. 18. "A technical incident has occurred which has caused temporary instability in the system responsible for processing payment transactions. The central bank is looking into both incidents, which come as European Central Bank (ECB) data shows cash payments in Spain fell by 18% between 2019 and 2022, a figure only surpassed in the euro zone by Cyprus, where transactions fell 23%. Redsys competes with another payment provider in Spain, which belongs to Cecabank and holds a market share of about 15%.
Persons: Redsys, Jesús Aguado, Emma Pinedo, Inti Landauro, Alexander Smith Organizations: Bank of Spain, BBVA, Central Bank, Redsys, Thomson Locations: MADRID, Santander, Spain, Cyprus
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
[1/2] British Prime Minister Rishi Sunak speaks during the opening session of the Global Food Security Summit at Lancaster House in London, Britain November 20, 2023. Years of political churn - with five prime ministers and a non-stop ministerial carousel since the 2016 Brexit vote - have shaken Britain's reputation for stability among investors. Some executives say the country, long a magnet for FDI, has simply taken them for granted. But companies and investors say that a focus by regulators on limiting costs for bill-payers in sectors such as water, telecoms and energy has crimped investment. British investment minister Dominic Johnson said the government would be in listening mode at the gathering on Nov. 27 to hear how it can remove hurdles.
Persons: Rishi Sunak, Dan Kitwood, Sunak, Emanuel Macron, Jack Paris, Paris, Jeremy Hunt, EY, Alina Osorio, Mikhail Taver, Richard Harrington, Harrington, Dominic Johnson, Johnson, Kate Holton, Sinead Cruise, Andy Bruce, Alexander Smith Organizations: British, Global Food Security, Lancaster House, Hampton Court, Partners, Reuters, European Union, United, Labour Party, India's Tata Group, Britain, AstraZeneca, Ireland, Thomson Locations: London, Britain, Hampton, France, Versailles, European, Germany, United States, Europe, Delaware
Total: 25