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Vitol to pay $95.7 million to settle fraud, market manipulation charges
  + stars: | 2020-12-03 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: 1 min
FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities company building in Geneva October 4, 2011. REUTERS/Denis BalibouseWASHINGTON (Reuters) - Energy and commodities trading firm Vitol Inc has agreed to pay $95.7 million to settle charges of corruption-based fraud and attempted market manipulation, the U.S. Commodity Futures Trading Commission on Thursday. Houston-based Vitol did not admit or deny the charges, but agreed to pay the civil penalties related to making bribes and offering kickbacks to employees of certain state-owned entities in Brazil, Ecuador and Mexico in exchange for “preferential treatment and access to trades,” the regulator said.
Persons: Denis Balibouse WASHINGTON, Vitol Organizations: Vitol, REUTERS, Energy, Vitol Inc, U.S . Commodity Futures, Commission, Houston Locations: Geneva, Brazil, Ecuador, Mexico
Vitol enters deal with U.S. government to avoid prosecution over Brazil oil bribes
  + stars: | 2020-12-03 | by ( Tom Hals | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities company building in Geneva October 4, 2011. Brazilian police have for years been investigating the wide-ranging ‘Car Wash’ scandal involving the use of bribes to win contracts involving state-controlled oil company Petroleo Brasileiro SA (Petrobras). In exchange for the bribes, Vitol obtained information regarding what competitors were bidding for trading Petrobras oil. Brazilian prosecutors announced in late 2018 that they were investigating Petrobras’ oil deals with trading houses, including the world’s biggest oil traders - Vitol, Trafigura and Glencore. Vitol SA is the world’s largest independent oil trader, trading some 8 million barrels of oil a day.
Persons: Denis Balibouse, Vitol Organizations: Vitol, REUTERS, U.S, Petroleo Brasileiro SA, Petrobras, Vitol SA Locations: Geneva, U.S, Brooklyn
Vitol pays $135 million to resolve U.S. allegations of oil bribes in Latin America
  + stars: | 2020-12-03 | by ( Tom Hals | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities company building in Geneva October 4, 2011. REUTERS/Denis Balibouse/File PhotoThe prosecutor said $45 million of the total payment would go to Brazilian authorities to resolve allegations in that country. In exchange for the bribes, Vitol obtained information regarding what competitors were bidding for trading Petrobras oil. Brazilian prosecutors announced in late 2018 that they were investigating Petrobras’ oil deals with trading houses, including the world’s biggest oil traders - Vitol, Trafigura and Glencore. Vitol is the world’s largest independent oil trader, trading some 8 million barrels of oil a day.
Persons: Denis Balibouse, Vitol Organizations: Reuters, U.S ., Vitol, REUTERS, Petroleo Brasileiro SA, Petrobras, Vitol SA, U.S Locations: Brazil, U.S, Brooklyn, Geneva
FILE PHOTO: A sign is pictured in front of the Vitol Group trading commodities company building in Geneva October 4, 2011. Vitol, run out of London, is the world’s largest independent oil trader, trading some 8 million barrels of oil a day. The energy trader will pay the Department of Justice (DOJ) a criminal penalty of $135 million to resolve the probes. Prosecutors said the bribes went to employees at Mexico’s state-run Pemex and Ecuadorian state oil company Petroecuador. Brazilian prosecutors announced in late 2018 that they were investigating Petrobras’ oil deals with trading houses, including the world’s biggest oil traders - Vitol, Trafigura and Glencore.
Persons: Denis Balibouse, “ Vitol, Seth DuCharme, Vitol, , Russell Hardy, MEXICO Vitol, Prosecutors, Pemex, Michael “ Mike ” Loya, Loya, Trafigura Organizations: Reuters, U.S ., U.S . Department of Justice, Vitol, REUTERS, of, of Justice, Futures Trading Commission, DOJ, Petroleo Brasileiro SA, Petrobras, FBI Locations: Brazil, Geneva, Swiss, London, Ecuador, Mexico, Eastern, of New York, ECUADOR, MEXICO, Mexico’s, U.S
Bentley hires jets to fly car parts to Britain during Brexit
  + stars: | 2020-12-02 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +2 min
FILE PHOTO: A Bentley logo is pictured on a Continental model car during the 88th Geneva International Motor Show in Geneva, Switzerland, March 6, 2018. “We used to run just-in-time with two days stock. Now we have 14 days stock. If Britain fails to secure a negotiated trade agreement with European policymakers, Bentley would be able to absorb 10% import tariffs by raising prices and cutting costs. “Overall we are in a position where we will do well over 10,000 sales this year,” he said via Webcast.
Persons: Denis Balibouse, Adrian Hallmark, ” Hallmark, Bentley, Hallmark, , Organizations: Bentley, Volkswagen, European Union, Geneva, REUTERS, Westminster, Union, Financial, Hallmark Locations: FRANKFURT, Britain, Geneva, Switzerland, Brussels, Europe, Manchester, breakeven, China, United States
Delegates gloomy as final fish talks open at WTO
  + stars: | 2020-12-01 | by ( Emma Farge | ) www.reuters.com + 0.00   time to read: +2 min
GENEVA (Reuters) - A final round of negotiations at the World Trade Organization on cutting fisheries subsidies opened on Tuesday with some delegates seeing little hope for a deal by a 2020 deadline despite intensifying negotiations. FILE PHOTO: A delegate arrives before a meeting at the World Trade Organization (WTO) in Geneva, Switzerland, October 28, 2020. Switzerland’s ambassador Didier Chambovey, who is facilitating talks, told members last week that positions on potential exemptions for developing countries were “entrenched”. However, the draft text issued in November seen by Reuters still showed 51 pairs of square brackets -- indicating areas of non-agreement. An ambitious deal could lead to a 12.5 percent increase in global fish biomass by 2050, the Pew Charitable Trust said, based on a model it has shared with WTO negotiators.
Persons: Denis Balibouse, , , Didier Chambovey, Santiago Wills, Prince Charles, Brazil’s Roberto Azevedo Organizations: World Trade Organization, REUTERS, Geneva, Reuters, Pew Charitable Trust, WTO, Washington Locations: GENEVA, Geneva, Switzerland, , India, China, EU, United States, South Korea, Japan
FILE PHOTO: U. N. Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator (OCHA) Mark Lowcock attends a news conference for the launch of the "Global Humanitarian Overview 2019" at the United Nations in Geneva, Switzerland, Decemer 4, 2018. REUTERS/Denis BalibouseNEW YORK (Reuters) - The COVID-19 pandemic has fueled a 40% increase in the number of people needing humanitarian assistance around the globe, the United Nations said on Tuesday, as it appealed for roughly $35 billion to help many of those expected to be in need next year. “If everyone who will need humanitarian aid next year lived in one country, it would be the world’s fifth largest nation,” U.N. aid chief Mark Lowcock said. “The pandemic has wreaked carnage across the most fragile and vulnerable countries,” he added. He said this year donors gave a record $17 billion to fund humanitarian operations and data showed that aid reached 70% of the people targeted.
Persons: Mark Lowcock, Denis Balibouse, Lowcock Organizations: Humanitarian Affairs, Emergency, United Nations, REUTERS Locations: Geneva, Switzerland, Yemen, Afghanistan, Nigeria, South Sudan, Democratic Republic of, Congo, Burkina Faso,
Brazil prosecutors sue Trafigura over irregular Petrobras contracts: statement
  + stars: | 2020-11-30 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
The allegations center around 31 fuel oil purchase and sale transactions carried out between May 2012 and October 2013. The allegedly irregular trades between Trafigura and Petrobras involved the sale of 7.062 million barrels of fuel oil, the prosecutors said. They said they found evidence Trafigura secured those contracts by paying 6.86 million reais in bribes to former employees of Petrobras’ commercial area. As a result, Trafigura earned a profit of almost 200 million reais and caused losses to Petrobras, the prosecutors said. Six foreign companies that competed and benefited from the scheme are defendants in the suit, including Trafigura do Brasil Consultoria, Trafigura AG, Trafigura PTE, Trafigura Group PTE, Trafigura Beheer BV and Farringford Foundation, the prosecutors said.
Persons: Denis Balibouse, Trafigura Organizations: REUTERS, SAO PAULO, Reuters, Petroleo Brasileiro SA, Petrobras, Brasil, Trafigura AG, Trafigura PTE, Trafigura Group PTE, Trafigura, Farringford Foundation Locations: Geneva, Switzerland, Brazil, Trafigura
WHO says would be "highly speculative" to say COVID did not emerge in China
  + stars: | 2020-11-27 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
Mike Ryan, Executive Director of the World Health Organisation (WHO) attends a news conference on the Ebola outbreak in the Democratic Republic of Congo at the United Nations in Geneva, Switzerland May 3, 2019. REUTERS/Denis BalibouseGENEVA (Reuters) - The World Health Organization’s top emergency expert said on Friday it would be “highly speculative” for the WHO to say the coronavirus did not emerge in China, where it was first identified in December last year. Mike Ryan was speaking at a virtual briefing in Geneva after being asked if COVID-19 could have first emerged outside China. It was first identified in the central city of Wuhan. “You start your investigation where the first human cases emerged,” he said.
Persons: Mike Ryan, Denis Balibouse GENEVA, COVID, Organizations: World Health Organisation, WHO, Democratic, United Nations, REUTERS, Health Locations: Democratic Republic of Congo, Geneva, Switzerland, China, Wuhan,
Huawei founder urges Honor subbrand to become competitor after split
  + stars: | 2020-11-27 | by ( David Kirton | ) www.reuters.com sentiment -0.99   time to read: +2 min
SHENZHEN, China (Reuters) - Huawei founder Ren Zhengfei called on employees of its departing Honor subbrand to strive to surpass its parent in a farewell speech as the tech giant sells the budget brand to keep its sanction-hobbled supply chains alive. FILE PHOTO: Ren Zhengfei, Founder and Chief Executive Officer of Huawei Technologies speaks during a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. Honor-brand smartphones made up 26% of the 51.7 million handsets Huawei shipped in July-September, according to consultancy Canalys. [L1N2I90MQ]If Honor could resume production, it could retain market share, said Flora Tang, an industry analyst with Counterpoint Research. Ren called on Honor to become Huawei’s biggest competitor after the “divorce,” and said toppling Huawei should “become your slogan for motivation”.
Persons: Ren Zhengfei, subbrand, Denis Balibouse, ” Ren, , Flora Tang, Ren Organizations: Huawei, Huawei Technologies, Economic, REUTERS, Denis Balibouse Huawei Technologies, Shenzhen Zhixin, Technology, U.S, Reuters, Counterpoint Research Locations: SHENZHEN, China, Davos, Switzerland, Shenzhen, U.S
Reduced to meeting online, airlines vow to keep fighting
  + stars: | 2020-11-25 | by ( Laurence Frost | ) www.reuters.com + 0.00   time to read: +3 min
PARIS (Reuters) - For an industry that prides itself on bringing people together, it was a particular humiliation for airlines to have to resort to video conferencing for their annual industry meeting this week - and not one they are ready to repeat. Governments may also use air travel to encourage vaccine uptake - drawing airlines into a political minefield. For airlines that survive COVID-19, intense environmental pressures still lie in wait, as several executives observed; “flight-shaming” has not gone away. Underlining the financial strain, Norwegian Air became the latest crisis casualty when it filed for Irish bankruptcy protection days before the meeting. “The people in the driving seat are health authorities - it’s a massive health crisis, so they don’t want people moving around,” Haltead said.
Persons: Alexandre de Juniac, Denis Balibouse, Willie Walsh, , Walsh, , they’ve, Little, de Juniac, ” de Juniac, Brian Pearce, James Halstead, ” Haltead Organizations: PARIS, International Air Transport Association, Reuters, REUTERS, British Airways, Qantas, Norwegian Air, “ Airlines, Aviation Locations: Geneva, Switzerland, Europe, United States
Embraer in 'active' turboprop partnership talks: exec
  + stars: | 2020-11-23 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
PARIS (Reuters) - Brazil’s Embraer is in “active” talks with potential partners to build a new regional turboprop aircraft and could opt for a combination of industrial and financial backing, the head of the company’s commercial division told Reuters. REUTERS/Denis Balibouse/File Photo“We are actively in discussions with (turboprop) partnerships, but I can’t go into more details now,” said Commercial Aviation Chief Executive Arjan Meijer. “The type of partnership, be it industrial or financial, is wide open. It stopped making smaller commuter turboprops in 1999 but has close ties to Embraer through the sale of JAS 39 Gripen fighters to Brazil. Saab, now a defence and security group with just 12% of sales from civilian customers, had no immediate comment.
Persons: Denis Balibouse, , Arjan Meijer Organizations: PARIS, Embraer, Reuters, European Business Aviation Convention, Cointrin Airport, REUTERS, Commercial Aviation, Europe’s, Havilland, Longview Aviation, Saab, JAS Locations: Geneva, Switzerland, Longview, Longview Aviation Capital, China, Brazil
Embraer in turboprop talks as it charts future without Boeing
  + stars: | 2020-11-23 | by ( Tim Hepher | ) www.reuters.com + 0.00   time to read: +4 min
PARIS (Reuters) - Brazil’s Embraer is in active talks with potential partners to build a new regional turboprop and could opt for a combination of industrial and financial backing, the head of the planemaker’s commercial division told Reuters. 3 planemaker is also pitching its E2 regional jet as a compact solution for carriers trying to reduce risk after the COVID-19 crisis. Embraer had previously sought to develop its turboprop as part of its tie-up with Boeing. Meijer blamed a recent E2 order slump on buyers waiting for the Boeing deal, followed swiftly by the pandemic. “Airlines that have ability to fly smaller planes do so.”When international travel recovers, airlines serving hubs will also use smaller feeder jets, Meijer said.
Persons: Denis Balibouse, Arjan Meijer, , Meijer, , JAS, ” Meijer Organizations: PARIS, Embraer, Reuters, European Business Aviation Convention, Cointrin Airport, REUTERS, Boeing, Commercial Aviation, Europe’s, Saab, Gripen, JETS, Airbus, “ Airlines Locations: Geneva, Switzerland, Brazil, South Korea, Canadian, U.S
France's Credit Agricole offers $875 million to buy Italy's Creval
  + stars: | 2020-11-23 | by ( Reuters Staff | ) www.reuters.com sentiment -0.97   time to read: +1 min
PARIS/MILAN (Reuters) - France’s second-biggest listed bank Credit Agricole on Monday offered to buy Italian bank Credito Valtellinese (Creval) for 737 million euros ($875 million) as it pursues plans to boost its footprint in prosperous Northern Italy. Its Italian subsidiary Credit Agricole Italia was offering 10.50 euros ($12.47) per share to acquire Creval, Credit Agricole added. The offer amounts to an investment of 737 million euros ($875 million). Under the planned takeover, its insurance unit Credit Agricole Assurance will sell its 9.8% stake in Creval to Credit Agricole Italia, the French lender said. London-based investment firm Algebris has also committed to sell its 5.4% stake in Creval to Credit Agricole Italia.
Persons: Denis Balibouse, Algebris, Amundi Organizations: PARIS, Agricole, REUTERS, Credit Agricole Italia, Assurance, Credit Agricole, Banco, Credit, Banca Locations: MILAN, Northern Italy, Geneva, Italy’s, Lombardy, Italian, Creval, London, Italy
PARIS/MILAN (Reuters) - France’s Credit Agricole made an offer to buy third-tier Italian lender Creval for 737 million euros ($875 million) on Monday, joining a wave of consolidation in the country’s banking sector. FILE PHOTO: A Credit Agricole sign is pictured on a building of the bank in Geneva November 26, 2014. Credit Agricole Italia will offer 10.50 euros per Creval share, a 21.4% premium on Friday’s closing price. Credit Agricole Italia had held preliminary talks with Banco BPM, Italy’s No.3 bank and a long-standing commercial partner, but they stalled, sources had said. “We were in an ambiguous situation, we had this long-term ‘bancassurance’ accord but it was difficult to pursue synergies,” Credit Agricole Italia CEO Giampiero Maioli told a press briefing.
Persons: Denis Balibouse France’s, Intesa, Giampiero Maioli, Maioli, “ We’ve, ” Maioli, , Amundi, don’t Organizations: PARIS, Agricole, REUTERS, Banco, Credit, Italia, Credit Agricole, Credit Agricole Italia, European Central Bank, Treasury, Mediobanca Securities, Creval, group’s, Agricole Assurance, Pioneer Investments Locations: MILAN, Geneva, Italy, Creval, dei, London, Cariparma, UniCredit
“If it’s open, I’ll definitely ski,” said Swede Max Ahlstedt, on the glacier where Zermatt offers year-round skiing. Some Swiss resorts, including Davos to the northwest, boast of “cold-fogging” equipment to blast the interiors of gondolas and “kill 99.9% of viruses, bacteria and spores in a minute”. The Swiss tourism association has even adopted “Clean & Safe” as its motto in the hope of easing tourists’ nerves. “It’d be worse if you couldn’t go to the mountains at all,” said Anne Spiegler, a German living in Zurich. Swiss resorts know that the number of guests from Britain, the Netherlands, Germany or Scandinavia will inevitably be far below the levels of a normal season as the wait for a vaccine stunts cross-border travel.
Persons: , Swede Max Ahlstedt, , Anne Spiegler, Jean, Francois Paschoud, Romy Biner, Hauser Organizations: Zermatt Locations: ZERMATT, Switzerland, Zermatt, France, Italy, Austria, Germany, Cervinia, Swiss, Davos, Zurich . Swiss, Britain, Netherlands, Scandinavia, Zell, Mayrhofen, Europe
ZURICH (Reuters) - Swiss doctors have urged those vulnerable to COVID-19 complications to record their wishes for end-of-life care in advance to help ease pressure on intensive care units, drawing criticism from an advocacy group. Nobody should face pressure, but refraining from talking with them may actually prevent them from getting treatment that matches their wishes, she said. In Switzerland, COVID-19 numbers have exploded during the second infection wave, rising from 100,000 weeks ago to more than 290,000 cases on Friday, when 4,946 new infections were recorded. So far, the system is stretched thin, but holding up, with spare ICU capacity in much of the country, official data shows. “We are now under the 600 mark of hospitalised COVID patients,” Bertrand Levrat, director of the Geneva University Hospital, told Reuters.
Persons: Denis Balibouse, Thierry Fumeaux, It’s, ” Fumeaux, Antonio Cuzzoli, Cuzzoli, Emma Cave, ” Cave, ” Bertrand Levrat, Organizations: University Hospital, REUTERS, Schweiz, Swiss Society for Intensive Care Medicine, SGI, Senectute Schweiz, Italy’s, Italy’s Cremona Hospital, Britain’s Department of Health, Social Care, Quality Commission, Durham University, Geneva University Hospital, Reuters Locations: ZURICH, Switzerland, Geneva, ICUs, COVID, Britain, Germany, Swiss, Nyon, Italy’s Cremona, Lombardy, Italy, Karlsruhe, Lake Geneva
Wealthy countries block COVID-19 drugs rights waiver at WTO - sources
  + stars: | 2020-11-20 | by ( Emma Farge | ) www.reuters.com sentiment -0.98   time to read: +2 min
GENEVA (Reuters) - Wealthy nations on Friday reiterated their opposition to a proposal to waive intellectual property rules for COVID-19 drugs, three trade sources said, despite pressure to make an exception to improve access to drugs for poorer countries. FILE PHOTO: A delegate arrives before a meeting at the World Trade Organization (WTO) in Geneva, Switzerland, October 28, 2020. The 164-member WTO body usually has to agree by consensus unless members agree to proceed to a vote, which is exceptional. Since then, China, which has five COVID-19 vaccine candidates in late-stage trials, has voiced its support, as have dozens of other WTO members, mostly from developing countries. “There is a hierarchical model and the poorer countries are being asked to take the leftovers,” she said.
Persons: Denis Balibouse, , , Yuanquiong Hu Organizations: World Trade Organization, REUTERS, European Union, Trade, General, WTO, EU, World Health Organization Locations: GENEVA, Geneva, Switzerland, United States, India, South Africa, China, COVID
WTO trade index rebounds, but forecasts likely year-end slowdown
  + stars: | 2020-11-20 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: The World Trade Organization (WTO) logo is pictured in front of their headquarters in Geneva, Switzerland, October 28, 2020. REUTERS/Denis BalibouseBRUSSELS (Reuters) - The World Trade Organization said on Friday global goods trade had rebounded sharply in the third quarter from COVID-19 lockdowns, but forecast a slowdown at the end of 2020. The WTO said its goods trade barometer had surged to 100.7 points from a record low of 84.5 points in August. “The latest reading indicates a strong rebound in trade in the third quarter as lockdowns were eased, but growth is likely to slow in the fourth quarter as pent-up demand is exhausted and inventory restocking is completed,” the WTO said.
Persons: Denis Balibouse BRUSSELS, Organizations: World Trade Organization, REUTERS, WTO Locations: Geneva, Switzerland, COVID
WTO sees trade rebound, but likely year-end slowdown
  + stars: | 2020-11-20 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A delegate arrives before a meeting at the World Trade Organization (WTO) in Geneva, Switzerland, October 28, 2020. REUTERS/Denis BalibouseBRUSSELS (Reuters) - The World Trade Organization said on Friday global trade in goods had rebounded in the third quarter from COVID-19 lockdowns, but predicted a slowdown at the end of 2020. The WTO said its goods trade barometer had risen to 100.7 points from a record low of 84.5 points in August, driven by a surge in export orders. “The latest reading indicates a strong rebound in trade in the third quarter as lockdowns were eased, but growth is likely to slow in the fourth quarter as pent-up demand is exhausted and inventory restocking is completed,” the WTO said. The WTO goods trade barometer is a composite of data, with indices on export orders and agricultural raw-material trade above medium-term trends, container shipping and automotive goods at trend and air freight and electronic components trade below.
Persons: Denis Balibouse BRUSSELS Organizations: World Trade Organization, REUTERS, WTO Locations: Geneva, Switzerland, COVID, lockdowns, Europe, North America
BRASILIA (Reuters) - Vaccinating 20% of the population of Latin America and the Caribbean against COVID-19 will cost more than $2 billion but low income countries will be helped by the COVAX Facility led by the World Health Organization, its regional branch said on Wednesday. FILE PHOTO: A logo is pictured on the headquarters of the World Health Orgnaization (WHO) in Geneva, Switzerland, June 25, 2020. REUTERS/Denis BalibouseAccording to the Pan American Health Organization (PAHO), COVAX aims to deploy at least 2 billion doses of COVID-19 vaccines by the end of 2021. So far, 28 self-financing countries have signed agreements with the COVAX Facility, and an additional 10 countries are eligible for support under the COVAX Advance Market Commitment, Barbosa said. Cases have decreased in most Andean countries and Argentina continues to see a sharp decrease, according to PAHO.
Persons: Health Orgnaization, Denis Balibouse, Jarbas Barbosa, PAHO, Barbosa, COVID Organizations: Reuters, COVID, COVAX, World Health Organization, Health, REUTERS, Pan American Health Organization, eventual, PAHO’s, UNICEF Locations: BRASILIA, America, Caribbean, Geneva, Switzerland, Americas, Washington, United States, Brazil, Uruguay, Argentina
Global luxury goods sales set for largest ever fall in Bain forecast
  + stars: | 2020-11-18 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
MILAN (Reuters) - Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros ($258 billion) this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday. REUTERS/Denis Balibouse/File PhotoThe expected decline, despite a strong sales recovery in China, is at the lower end of a 20% to 35% range which Bain’s closely followed industry forecast had predicted in May. The only bright spot is China, where sales have surged since it began to emerge from the health crisis in the spring. Sales in mainland China are seen growing by 45% at current exchange rates to 44 billion euros this year. Fourth-quarter sales are expected to drop by 10%, although the decline could be bigger depending on how much the new shutdowns hit the crucial Christmas season.
Persons: Bain, Denis Balibouse, , Federica, Louis Vuitton, LVMH, Hermes, Prada Organizations: MILAN, REUTERS, Bain Locations: Geneva, Switzerland, China, Europe, United States, U.S
ET Covid-19 Live Updates: First At-Home Coronavirus Test Wins Emergency Approval The Food and Drug Administration authorized the test, which requires a prescription but can be conducted entirely at home. authorizes the first at-home coronavirus test. The test, developed by the California-based company Lucira Health, requires a prescription from a health care provider. “Today’s authorization for a complete at-home test is a significant step toward F.D.A.’s nationwide response to Covid-19,” Jeff Shuren, director of F.D.A.’s Center for Devices and Radiological Health, said in a statement. But the new at-home test relies on similar principles by using a method called a loop mediated amplification reaction, or LAMP.
Persons: ” Jeff Shuren, , Omai Garner, Dr, Garner, Saskia Popescu, Popescu, Fredrik Sandberg, King Carl XVI Gustaf, Stefan Lofven, “ Don’t, don’t, Lofven, Charles E, Grassley, Anna Moneymaker, Trump’s, Don Young, , Rick Scott, Young —, Scott, Judy Shelton, , I’m, Brian Schatz, we’re, Denis Balibouse, Prashant Yadav, Kelly Barnes, quarantining, Steven Marshall, — Yan Zhuang, Mauricio Lima, Neil Basu, Mr, Basu Organizations: Drug Administration, Lucira, Lucira Health, Devices, Radiological, Centers for Disease Control, Prevention, Laboratory, University of California, Los Angeles Health, George Mason University, TT News Agency, Agence France, , The New York Times, Republican, Federal Reserve Board, Capitol, Trump’s Fed, Pfizer, Moderna, Industry, , Center for Global Development, ., Outdoor, Swiss Society of Intensive Care, Notre, Dame, The New York Times British, Metropolitan Police, ACT Locations: Sweden, U.S, California, Los, Stockholm, Europe, — Sweden, Italy, Spain, Finland, Norway, Swedish, Iowa, Washington, Alaska, Florida, Hawaii, Visp, Switzerland, Australia, Adelaide, South Australia, Victoria, Nice, France, Vienna
ET Covid-19 Live Updates: At-Home Coronavirus Test Wins Emergency Approval, as States Tighten Restrictions The Food and Drug Administration authorized the test, which requires a prescription but is the first that can be conducted entirely at home. authorizes the first at-home coronavirus test. The test, developed by the California-based company Lucira Health, requires a prescription from a health care provider. Days after reporting a 90 percent effectiveness rate for its coronavirus vaccine, Pfizer is reporting new results showing 95 percent effectiveness. A production facility for Moderna’s coronavirus vaccine is under construction in Visp, Switzerland.
Persons: ” Jeff Shuren, , Omai Garner, Dr, Garner, Saskia Popescu, Popescu, Andrea Mantovani, ” Jérôme Salomon, Covid, Mr, Salomon, ” Olivier Véran, , Charles E, Grassley, Anna Moneymaker, Trump’s, Don Young, , Rick Scott, Young —, Scott, Judy Shelton, I’m, Brian Schatz, we’re, Pfizer, BioNTech, Saad Omer, Denis Balibouse, Prashant Yadav, Fredrik Sandberg, King Carl XVI Gustaf, Stefan Lofven, “ Don’t, don’t, Lofven, Brian Snyder, Megan Ranney, Ranney, Kelly Barnes, quarantining, Steven Marshall, — Yan Zhuang Organizations: Drug Administration, Pfizer, Lucira, Lucira Health, Devices, Radiological, Centers for Disease Control, Prevention, Laboratory, University of California, Los Angeles Health, George Mason University, The New York Times, Republican, Federal Reserve Board, Capitol, Trump’s Fed, Food and Drug Administration, Moderna, Yale Institute for Global Health, GPS, Industry, , Center for Global Development, TT News Agency, Agence France, , , Boston . Credit, Reuters, Shield Association, World Health Organization, UNICEF, Brown University, ., Outdoor, Swiss Society of Intensive Care Locations: France, Europe, California, Los, Paris, Iowa, Washington, Alaska, Florida, Hawaii, United States, Visp, Switzerland, Sweden, Stockholm, — Sweden, Italy, Spain, Finland, Norway, Swedish, U.S, Boston ., Rhode Island, Australia, Adelaide, South Australia, Victoria
ET Covid-19 Live Updates: At-Home Test Wins Emergency Approval; States Add Restrictions The Food and Drug Administration authorized the test, which requires a prescription but is the first that can be conducted entirely at home. authorizes the first at-home coronavirus test. The test, developed by the California-based company Lucira Health, requires a prescription from a health care provider. Days after reporting a 90 percent effectiveness rate for its coronavirus vaccine, Pfizer is reporting new results showing 95 percent effectiveness. Coronavirus Vaccine Tracker A look at all the vaccines that have reached trials in humans.
Persons: ” Jeff Shuren, , Omai Garner, Dr, Garner, Saskia Popescu, Popescu, Andrea Mantovani, ” Jérôme Salomon, Covid, Mr, Salomon, ” Olivier Véran, , Charles E, Grassley, Anna Moneymaker, Trump’s, Don Young, , Rick Scott, Young —, Scott, Judy Shelton, I’m, Brian Schatz, we’re, Pfizer, BioNTech, Saad Omer, Denis Balibouse, Prashant Yadav, Fredrik Sandberg, King Carl XVI Gustaf, Stefan Lofven, “ Don’t, don’t, Lofven, Brian Snyder, Megan Ranney, Ranney, Kelly Barnes, quarantining, Steven Marshall, — Yan Zhuang Organizations: Drug Administration, Pfizer, Lucira, Lucira Health, Devices, Radiological, Centers for Disease Control, Prevention, Laboratory, University of California, Los Angeles Health, George Mason University, The New York Times, Republican, Federal Reserve Board, Capitol, Trump’s Fed, Food and Drug Administration, Moderna, Yale Institute for Global Health, GPS, Industry, , Center for Global Development, TT News Agency, Agence France, , , Boston . Credit, Reuters, Shield Association, World Health Organization, UNICEF, Brown University, ., Outdoor, Swiss Society of Intensive Care Locations: France, Europe, California, Los, Paris, Iowa, Washington, Alaska, Florida, Hawaii, United States, Visp, Switzerland, Sweden, Stockholm, — Sweden, Italy, Spain, Finland, Norway, Swedish, U.S, Boston ., Rhode Island, Australia, Adelaide, South Australia, Victoria
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