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Musk says Tesla will accept bitcoins when miners use reasonable clean energy
  + stars: | 2021-06-13 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson/File Photo(Reuters) - Tesla Inc’s Elon Musk tweeted on Sunday that the company will resume allowing bitcoin transactions when there is confirmation of reasonable clean energy usage by miners. "Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market," he said in the tweet here. "When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions."
Persons: Lucy Nicholson, Tesla, Elon Musk Organizations: REUTERS, BTC Locations: Los Angeles , California, U.S
Musk says Tesla will accept bitcoins when miners use more clean energy
  + stars: | 2021-06-13 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson/File PhotoTesla Inc (TSLA.O) Chief Executive Officer Elon Musk tweeted on Sunday that the electric carmarker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," he said in a tweet. read moreMusk also said that Tesla sold about 10% of holdings to confirm bitcoin could be liquidated easily without moving market. In February, Tesla revealed it had bought $1.5 billion of bitcoin and would accept it as a form of payment for cars.
Persons: Lucy Nicholson, Elon Musk, Tesla, Bitcoin, cryptocurrency Organizations: REUTERS, Tesla, Thomson Locations: Los Angeles , California, U.S
U.S. Trade Representative Katherine Tai said on Thursday the Biden administration was working on multiple fronts to end the pandemic. "Extraordinary circumstances call for extraordinary measures," Tai told a virtual town hall for union members hosted by the AFL-CIO trade federation. Sean Flynn, an expert on intellectual property at American University Washington, said he expects the WTO to reach a deal on a waiver during a ministerial meeting later this year. The pharmaceutical industry argues that companies invested their own funds to develop vaccines and waiving their IP rights will undermine such work in the future. Robert Grant, senior director of international affairs at the U.S. Chamber of Commerce’s Global Innovation Policy Center, said there was "no evidence" that waiving intellectual property rights would boost vaccine production.
Persons: Lucy Nicholson, Katherine Tai, Biden, Tai, Joe Biden, Sean Flynn, Janet Yellen, Robert Grant, we’re, Organizations: Pfizer, REUTERS, U.S . Trade, AFL, World Trade Organization, WTO, Biden, American University Washington, Treasury, U.S . Chamber, Innovation Policy, Thomson Locations: Los Angeles , California, U.S, States, Washington, Germany, Britain
22 U.S. states urge Supreme Court to uphold CDC eviction ban
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -0.99   time to read: 1 min
Protesters surround the LA Superior Court to prevent an upcoming wave of evictions and call on Governor Gavin Newsom to pass an eviction moratorium, amid the global outbreak of coronavirus disease (COVID-19), in Los Angeles, California, U.S., August 21, 2020. REUTERS/Lucy Nicholson/File PhotoThe state attorneys general of 22 U.S. states on Friday urged the U.S. Supreme Court not to end the Centers for Disease Control and Prevention’s (CDC) COVID-19 residential eviction moratorium. Last week, a group of landlords asked the high court to issue an order that would effectively end the federal government’s national ban on residential evictions. The CDC order is set to expire on June 30. CDC Director Rochelle Walensky declined to say this week if the agency will again extend the order, saying discussions are ongoing.
Persons: Gavin Newsom, Lucy Nicholson, Rochelle Walensky Organizations: LA Superior, REUTERS, U.S, Supreme, for Disease Control, CDC, Thomson Locations: Los Angeles , California, U.S
U.S. Supreme Court urged by 22 states to maintain eviction ban
  + stars: | 2021-06-11 | by ( David Shepardson | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Lucy Nicholson/File PhotoThe attorneys general of 22 states on Friday urged the U.S. Supreme Court not to end the Centers for Disease Control and Prevention's pandemic-related residential eviction moratorium that has been challenged by landlord groups. The landlords asked the Supreme Court last week to issue an order stopping the national ban on evictions, which was first implemented last September and is due to expire on June 30. The 22 states include California, New York, Virginia and Michigan, with the District of Columbia joining as well. The landlord groups said U.S. District Judge Dabney Friedrich's May 5 decision nullifying the moratorium should take effect immediately. Circuit said the CDC eviction ban was likely lawful, but has not yet issued a ruling on the merits of the case.
Persons: Gavin Newsom, Lucy Nicholson, Rochelle Walensky, Dabney Friedrich's, Friedrich, Joe Biden's Organizations: LA Superior, REUTERS, U.S, Supreme, for Disease Control, CDC, Alabama Association of Realtors, District of Columbia, Appeals, Circuit, Thomson Locations: Los Angeles , California, U.S, COVID, California , New York, Virginia, Michigan
Netflix, chill and shop: New Online store offers limited-edition merchandise
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.80   time to read: +1 min
REUTERS/Lucy NicholsonNetflix Inc (NFLX.O) will launch an online store to sell apparel, lifestyle merchandise and collectibles based on its popular shows, the streaming giant said on Thursday. The online store, Netflix.shop, will first be available in the United States and expand into other countries in the coming months. The store will sell limited edition products on a regular basis, in addition to products available at retail stores through its partners. Netflix has also created games based on shows "Stranger Things" and "La casa de Papel (Money Heist)". It also plans to launch exclusive products based on hit shows "The Witcher" and "Stranger Things."
Persons: Lucy Nicholson Organizations: Netflix, REUTERS, Lucy Nicholson Netflix Inc, Thomson Locations: Hollywood, Los Angeles , California, U.S, United States
Netflix and shop: Online store offers limited-edition merchandise
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.96   time to read: +1 min
REUTERS/Lucy NicholsonNetflix Inc (NFLX.O) will launch an online store to sell limited-edition apparel, lifestyle merchandise and collectibles based on "Stranger Things," "Lupin" and other popular shows, the streaming giant said on Thursday. Merchandise in the online shop will be "carefully selected high-quality apparel and lifestyle products," the company said. The "Lupin" products were developed with the Louvre museum. In the future, the company plans to introduce products based on hit series "The Witcher" and "Stranger Things" and Netflix logo-wear from Japanese fashion house BEAMS. Netflix has also created video games based on shows "Stranger Things" and "La casa de Papel (Money Heist)."
Persons: Lucy Nicholson, Netflix.shop Organizations: Netflix, REUTERS, Lucy Nicholson Netflix Inc, Target Inc, Walmart Inc, Louvre, Nasdaq, Thomson Locations: Hollywood, Los Angeles , California, U.S, United States
Column: Inflation warnings are mostly 'just in case'
  + stars: | 2021-06-09 | by ( Mike Dolan | ) www.reuters.com + 0.00   time to read: +6 min
LONDON (Reuters) - As grandees of the investment world fall over themselves to warn of long-absent inflation up ahead, financial markets appear ever calmer about the risks of that new regime unfolding. Echoing that mantra from major central banks, the World Bank on Tuesday said the 1% jump in world inflation forecast for this year wouldn’t warrant a policy change as long as inflation expectations stay under wraps. For all their eye-catching red flags, investment banks are just hedging their bets to some degree. Deutsche Bank’s economists this week said their central scenario was that the inflation resurgence would be temporary and benign. Given the scale of debt accumulated during the pandemic, “neglecting inflation leaves global economies sitting on a time bomb.”Others already have a new inflation regime as a base case.
Persons: Lucy Nicholson, , it’s, , Jim Wood, Smith, Reagan, Volcker, ” Deutsche’s David Folkerts, Landau, Peter Hooper, Jim Reid, Pascal Blanque, Amundi, Larry Fink, Morgan Stanley Organizations: REUTERS, United, Federal Reserve, World Bank, Hawksmoor Investment Management, Deutsche, BlackRock, U.S, CPI Locations: Beverly Hills , California, U.S, United States
Amazon’s plastic surgery
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A sign advertising a credit card offering a discount at Whole Foods and Amazon is seen outside a Whole Foods store in Los Angeles, February 26, 2018. The e-commerce giant is auditioning potential credit card partners to replace JPMorgan (JPM.N), Reuters reported on Wednesday read more . Dramatic shifts in plastic make it a good moment for Jeff Bezos’s firm to shop around, and for Jamie Dimon’s bank to let it. Credit card companies have seen consumers pay off balances at an unprecedented rate during Covid-19. For the colossal JPMorgan, Amazon only represents around 1.5% of the overall loan book.
Persons: Lucy Nicholson Amazon.com, Jeff Bezos’s, Jamie Dimon’s, John Foley, Ferrari Organizations: Foods, REUTERS, JPMorgan, Reuters, Citigroup, Synchrony, American Express, Amazon, BBVA Locations: Los Angeles
GEO jumps the prison wall
  + stars: | 2021-06-09 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The 60% surge in the stock price of private prison operator GEO Group (GEO.N) on Wednesday makes the morality tale hard to sustain . GEO and rival CoreCivic (CXW.N) have been walloped by President Joe Biden’s decision not to renew many of their federal contracts. GEO halted its dividend in April read more . One-third of its shares are out on loan, according to Refinitiv, suggesting many investors are betting against any turnaround. That, though, is probably as far-fetched as the social-media fairy tale that created meme stocks in the first place.
Persons: Lucy Nicholson, CoreCivic, Joe Biden’s, John Foley, Ferrari Organizations: REUTERS, GEO, Wednesday, AMC Entertainment, UPS, BBVA Locations: San Diego , California, U.S
Scientists from the National Oceanic and Atmospheric Administration (NOAA) and the Scripps Institution of Oceanography at the University of California San Diego, said the findings, based on the amount of carbon dioxide in the air at NOAA's weather station on Mauna Loa in Hawaii, was the highest since measurements began 63 years ago. The measurement, called the Keeling Curve after Charles David Keeling, the scientist who began tracking carbon dioxide there in 1958, is a global benchmark for atmospheric carbon levels. Instruments perched on NOAA's mountaintop observatory recorded carbon dioxide at about 419 parts per million last month, more than the 417 parts per million in May 2020. “We are adding roughly 40 billion metric tons of CO2 pollution to the atmosphere per year,” Tans wrote. The carbon dioxide levels measured were not affected by the eruption of Hawaiian volcanoes, Tans said, adding the station is situated far enough from active volcanoes that measurements are not distorted, and occasional plumes of carbon dioxide are removed from the data.
Persons: Lucy Nicholson, Charles David Keeling, Pieter Tans, ” Tans, Tans Organizations: Downtown, REUTERS, National Oceanic, Atmospheric Administration, Scripps Institution of Oceanography, University of California, NOAA's, Monitoring Laboratory, Thomson Locations: Downtown Los Angeles, Los Angeles , California, U.S, University of California San Diego, Mauna Loa, Hawaii
White House plans to discuss its supply chain review next week
  + stars: | 2021-06-04 | by ( ) www.reuters.com + 0.70   time to read: 1 min
Shipping containers are unloaded from a ship at a container terminal at the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy NicholsonWhite House national economic director Brian Deese said on Friday the administration will discuss its review on supply chain problems next week. Deese told reporters at the daily White House briefing the White House review will address short-term bottlenecks seen this year including housing, construction materials, transportation and logistics. He said the administration has identified concrete solutions on semiconductor supply chains. Our Standards: The Thomson Reuters Trust Principles.
Persons: Lucy Nicholson White, Brian Deese, Deese Organizations: Port, REUTERS, White House, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S
JPMorgan seeks regulatory approval for full ownership of Chinese joint venture
  + stars: | 2021-06-03 | by ( ) www.reuters.com sentiment -0.97   time to read: +1 min
The logo of Dow Jones Industrial Average stock market index listed company JPMorgan Chase (JPM) is seen in Los Angeles, California, United States, in this October 12, 2010 file photo. JPMorgan Chase & Co. owns Chase Commerical Bank and JPMorgan Investment Bank. REUTERS/Lucy Nicholson/File Photo/File PhotoJPMorgan (JPM.N) has applied to regulators for approval to take full ownership of its mainland Chinese securities joint venture, according to a spokesman for the bank. The Wall Street bank currently owns 71% of the joint venture after buying out one of its business partners in October last year. Beijing scrapped foreign ownership limits in the securities and mutual fund industry on April 1 last year.
Persons: Lucy Nicholson, Goldman Sachs Organizations: Dow Jones Industrial, JPMorgan Chase, JPMorgan Chase & Co, Chase Commerical Bank, JPMorgan Investment Bank, REUTERS, JPMorgan, Goldman, Bloomberg News, Reuters, Securities, Thomson Locations: Los Angeles , California, United States, China, Beijing
Etsy takes thrift out of online thrift store
  + stars: | 2021-06-03 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Youth appealed to investors, who sent Etsy’s shares up more than 7%, or nearly as much in market value as the deal’s price tag. Etsy rakes in about 17%, while peers have a so-called take rate of at least 20%, according to BTIG analysts. Etsy boss Josh Silverman reckons there may be opportunities from selling advertising, too, as Depop doesn’t carry any now. While Depop’s social-media aspects give it an edge, there are few barriers to entering the market for recycled fashion. At the first sign of a Depop slowdown, Etsy may find that investors are too.
Persons: Lucy Nicholson Etsy’s, Etsy’s, Josh Silverman reckons, Jeffrey Goldfarb Organizations: Washington , D.C, REUTERS, AMC Locations: Washington ,, Los Angeles , California, U.S
U.S. sets and suspends tariffs on six countries over digital taxes
  + stars: | 2021-06-02 | by ( David Lawder | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Lucy Nicholson/File PhotoThe United States on Wednesday announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations to continue. USTR published lists of imports from the six countries that would face tariffs if international tax negotiations fail to reach a solution that prohibits countries from imposing unilateral digital services taxes. USTR said it would impose tariffs on goods worth $323 million from Spain, $310 million from Turkey, $118 million from India and $65 million from Austria. The potential tariffs, based on 2019 import data, aim to equal the amount of digital taxes that would be collected from U.S. firms, a USTR official said. U.S. tariffs threatened against France over its digital tax were suspended in January.
Persons: Lucy Nicholson, USTR, Tai Organizations: Port, REUTERS, Wednesday, U.S . Trade, U.S, France, OECD, Thomson Locations: Port of Long Beach, Port of Los Angeles, Los Angeles , California, U.S, States, Britain, Italy, Spain, Turkey, India, Austria, London
Oil adds to gains on OPEC+ supply discipline, demand prospects
  + stars: | 2021-06-02 | by ( Shu Zhang | Sonali Paul | ) www.reuters.com + 0.00   time to read: +3 min
SINGAPORE (Reuters) -Oil prices rose on Wednesday after OPEC and its allies stuck to their plan to cautiously bring back oil supply to the markets in June and July while expecting a robust recovery in demand in the United States and China, the world’s two biggest oil consumers. FILE PHOTO: Oil storage containers are seen, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy NicholsonU.S. West Texas Intermediate (WTI) crude futures rose 7 cents, or 0.10%, to $67.79 as of 0500 GMT, extending a 2.1% gain following the Memorial Day holiday in the United States on Monday. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, together called OPEC+, agreed on Tuesday to keep to their plan to gradually ease supply curbs through July. He said he saw a solid demand recovery in the United States and China and added that the pace of vaccine rollouts “can only lead to further rebalancing of the global oil market”.
Persons: Lucy Nicholson U.S, Prince Abdulaziz bin Salman’s, , Mohammad Barkindo Organizations: OPEC, REUTERS, Lucy Nicholson U.S . West Texas, Brent, of, Petroleum, Saudi Energy, ING, Market, Iran, Iran’s, RBC Capital Markets, ANZ Research Locations: SINGAPORE, United States, China, Los Angeles , California, U.S, Saudi Arabia, Vienna
FILE PHOTO: Oil storage containers are seen, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. “The oil market welcomed the OPEC+ decision to stick with its existing production plan, and in conjunction with positive global demand indications, prices are gaining further today,” said Louise Dickson, Rystad Energy oil markets analyst. OPEC+ data shows the group is now more upbeat about the pace of rebalancing in the oil market than it was a month ago. Graphic: Oil Market Balances -Saudi Energy Minister Prince Abdulaziz bin Salman said solid demand recovery in the United States and China and the pace of COVID-19 vaccine rollouts can only lead to further rebalancing of the global oil market. “We expect oil prices to move well beyond $70 per barrel towards mid-year,” said Norbert Rucker, analyst at Swiss bank Julius Baer.
Persons: Lucy Nicholson, Brent, , Louise Dickson, Prince Abdulaziz bin Salman, Norbert Rucker, Julius Baer Organizations: YORK, REUTERS, . West Texas, Energy, Organization of, Petroleum, Saudi Energy Locations: Iran, United States, Los Angeles , California, U.S, OPEC, China, Swiss
Senators criticize U.S. airlines for not eliminating voucher expiration dates
  + stars: | 2021-06-01 | by ( ) www.reuters.com sentiment -1.00   time to read: 1 min
A Delta Connection Embraer ERJ-175LR plane lands as a United Express Embraer ERJ-175LR plane waits to take off at LAX airport in Los Angeles, California U.S. January 10, 2018. REUTERS/Lucy NicholsonTwo senators on Monday criticized seven major U.S. airlines for failing to make all pandemic-related flight credits valid indefinitely and vowed to pursue legislative or regulatory actions in response. Democrats Edward Markey and Richard Blumenthal said the airlines trade group had "refused to offer any commitment to expand cash refund policies or eliminate expiration dates for pandemic-related flight credits." The lawmakers said the airlines "continue to sit on more than $10 billion in unused flight credits and are still refusing to return consumers' hard-earned money, more than a year after the pandemic began." read moreOur Standards: The Thomson Reuters Trust Principles.
Persons: Lucy Nicholson, Edward Markey, Richard Blumenthal Organizations: Delta, Embraer, United Express Embraer, LAX, Los Angeles , California U.S, REUTERS, Thomson Locations: Los Angeles , California
REUTERS/Lucy NicholsonTwo senators on Monday criticized seven major U.S. airlines for failing to make all pandemic-related flight credits valid indefinitely and vowed to pursue legislative or regulatory actions in response. Democrats Edward Markey and Richard Blumenthal said the airlines trade group had "refused to offer any commitment to expand cash refund policies or eliminate expiration dates for pandemic-related flight credits." The lawmakers said the airlines "continue to sit on more than $10 billion in unused flight credits and are still refusing to return consumers' hard-earned money, more than a year after the pandemic began." On Friday, trade group Airlines for America representing American Airlines (AAL.O), United Airlines (UAL.O), Delta Air Lines (DAL.N), Southwest Airlines (LUV.N) and others told the senators in a letter that major U.S. airlines issued $12.84 billion in cash refunds to customers in 2020 as the coronavirus pandemic upended the travel industry. Airlines have faced criticism over their handling of redemptions for flights canceled during the pandemic.
Persons: Lucy Nicholson, Edward Markey, Richard Blumenthal, Nicholas Calio, Calio Organizations: Delta, Embraer, United Express Embraer, LAX, Los Angeles , California U.S, REUTERS, Airlines for America, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, Airlines, Reuters, Thomson Locations: Los Angeles , California, U.S
Downtown Los Angeles is seen behind a tree burned by wildfire before expected heavy rains, as the coronavirus disease (COVID-19) continues, in Los Angeles, California, U.S., January 28, 2021. Across the United States, cities have launched new programs focused on dealing with extreme weather, reflecting the growing impacts of climate change on local communities, according to experts. 1 killer of all the climate change impacts," Gilbert said. 'ENVIRONMENTAL JUSTICE IMPACT'In February, Los Angeles launched a Climate Emergency Mobilization office to coordinate the city's policies on climate change across its dozens of neighborhoods and districts. "Climate change is a public health issue, a public health hazard, and the front-line communities that are most affected by climate change are low income communities," Mayor Regina Romero told Reuters.
Persons: Lucy Nicholson Tucson, Angeles, Adrienne Arsht, Kathy Baughman McLeod, Trump, Alice Hill, Joe Biden's, Donald Trump, Biden, Levine Cava, Cava, Jane Gilbert, Gilbert, Marta Segura, Segura, Greg Good, Mayor Regina Romero, Romero Organizations: Downtown, REUTERS, Rockefeller Foundation Resilience, Washington D.C, Council, Resilience, EPA, Foreign Relations, Miami Dade, Miami, IMPACT, Public Works Department, Reuters, Los Angeles Board, Public, Mayor, Biden, Thomson Locations: Downtown Los Angeles, Los Angeles , California, U.S, Miami, United States, Phoenix, Houston , Louisville, Nashville, Oakland, Gulf, New York, Los Angeles, Miami Dade County, Tucson, Arizona
The complaint said Black subjected Ganieva over several years to numerous instances of unwanted sexual conduct. It referred twice to his alleged "sexual assaults and rapes" of her, and specifically described one alleged rape from 2014. "Ms. Ganieva's allegations of harassment and other inappropriate behavior are categorically untrue," a spokesman for Black said in a statement. "Mr. Black emphatically denies each and every spurious allegation put forth in this lawsuit and looks forward to disproving them in court." The spokesman also said Black made "substantial monetary payments" to Ganieva based on her threats to go public about their relationship.
Persons: Leon Black, Lucy Nicholson Leon Black, Guzel Ganieva, Black, Mr, Ganieva, coercing, Jeffrey Epstein, Epstein, Jeanne Christensen Organizations: REUTERS, Apollo Global Management Inc, Thomson Locations: Beverly Hills , California, U.S, Russian, New York, Manhattan
U.S. Senate panel advances EV tax credit of up to $12,500
  + stars: | 2021-05-27 | by ( David Shepardson | ) www.reuters.com + 0.00   time to read: +3 min
The bill would limit tax credits to vehicles with a retail price below $80,000 to qualify for the tax credits. The current maximum tax credit is $7,500 with no maximum price and currently phases out for individual automakers once they hit 200,000 total EVs sold. Both General Motors (GM.N) and Tesla (TSLA.O) have hit the cap and currently do not qualify for the $7,500 tax credit. It has numerous other green energy tax incentives and would rescind or cut many fossil fuel tax provisions. The EV incentives are estimated to cost $31.6 billion through 2031, according to a congressional estimate.
Persons: Christa Lopes, Lucy Nicholson The, EVs, Debbie Stabenow, Joe Biden, Biden, Rory Gamble, Stabenow, John Cornyn of Organizations: REUTERS, Lucy Nicholson The U.S . Senate Finance Committee, General Motors, Energy, Michigan Democrat, Volkswagen, House, Representatives, Ford, United Auto Workers, Republicans, EV, Thomson Locations: Irvine , California, United States, America, Michigan, John Cornyn of Texas
S.Korea approves Moderna's COVID-19 vaccine
  + stars: | 2021-05-21 | by ( Sangmi Cha | ) www.reuters.com sentiment -1.00   time to read: +1 min
A nurse draws a Moderna coronavirus disease (COVID-19) vaccine, at East Valley Community Health Center in La Puente, California, U.S., March 5, 2021. REUTERS/Lucy Nicholson/File PhotoSouth Korea on Friday approved Moderna Inc's (MRNA.O) COVID-19 vaccine, as the country attempts to speed up its inoculation efforts, drug safety minister Kim Gang-lip told a news conference. read moreModerna is the fourth COVID-19 vaccine to be approved in South Korea, following doses developed by AstraZeneca Plc (AZN.L), Pfizer Inc (PFE.N) and Johnson & Johnson (JNJ.N), said Kim. Moderna has a deal with South Korea to supply 40 million doses of its vaccine, although the shipment timeline is yet to be announced. read moreSeoul has ordered up to 192 million doses of coronavirus vaccines, including those made by AstraZeneca, Pfizer, Novavax (NVAX.O) and Johnson & Johnson.
Persons: Lucy Nicholson, Kim Gang, Johnson, Kim Organizations: East, East Valley Community Health, REUTERS, AstraZeneca Plc, Pfizer Inc, Korean drugmaker GC Pharma, Moderna, Samsung BioLogics Co, AstraZeneca, Pfizer, Novavax, Korea Disease Control, Prevention Agency, Thomson Locations: East Valley, La Puente , California, U.S, Korea, United States, South Korea, KS, Seoul
BMW to cut antitrust provisions by 1 billion eur as EU fine seen lower
  + stars: | 2021-05-20 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: The logo of BMW is seen at the LA Auto Show in Los Angeles, California, U.S. November 20, 2019. REUTERS/Lucy NicholsonFRANKFURT (Reuters) - German luxury carmaker BMW said on Thursday it would have to set aside 1 billion euros ($1.2 billion) less than initially feared for expected European antitrust fines for alleged collusion with rivals. In 2019, BMW recognised a provision of around 1.4 billion euros for expected penalties from an EU investigation into collaboration between German automakers on emission-reduction technologies. “The significant limitation in the scope of the allegations has led to a revaluation of the provision,” BMW said, adding this would lead to a positive effect on earnings of around 1 billion euros in the second quarter. The 2021 operating profit margin over sales for the automotive segment would be one percentage point higher as a result, it added.
Persons: Lucy Nicholson FRANKFURT, Organizations: BMW, LA, REUTERS, ” BMW Locations: Los Angeles , California, U.S
Apollo co-founder Josh Harris to step down from his day-to-day role
  + stars: | 2021-05-20 | by ( ) www.reuters.com + 0.99   time to read: +2 min
Joshua Harris, Co-Founder and a member of the Board of Directors at Apollo Global Management, LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy NicholsonApollo Global Management Inc (APO.N) said on Thursday co-founder Josh Harris has decided to step down from his day-to-day role as managing director on completion of the private-equity giant's deal with Athene Holding Ltd (ATH.N). Harris will "return to his roots" as an investor and entrepreneur, Apollo said, adding that he will remain on the company's board and its executive committee. Apollo said Harris will focus on building his multi-asset-class investing business and HBSE, a sports and entertainment company, as well as growing his family's foundation. "After nearly 31 years at Apollo, it is time for me to start the next chapter of my career, where I will focus full-time on the platforms I've created outside of the firm," Harris said.
Persons: Joshua Harris ,, Lucy Nicholson Apollo, Josh Harris, Harris, Apollo, Leon Black, Jeffrey Epstein, Black, Jay Clayton, Epstein, Marc Rowan Organizations: Apollo Global Management, Milken Institute Global Conference, REUTERS, Lucy Nicholson Apollo Global Management Inc, Athene Holding, Apollo, U.S . Securities, Exchange Commission, Thomson Locations: Beverly Hills , California, U.S
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