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☆ Elena Vardon — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-22 | by ( Elena Vardon | ) www.wsj.com time to read: 1 min

Elena VardonElena Vardon covers U.K. financial services and other business news for Dow Jones Newswires and The Wall Street Journal. She began her career at Reuters covering France and Benelux company news.

Persons: Elena Vardon Elena Vardon, Dow Jones Newswires Organizations: Street, Reuters Locations: France, Benelux

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it's confident inflation will stay at the 2% target. "We have yet to foresee inflation stably and sustainably achieve our price target," BOJ Governor Kazuo Ueda said in a press conference. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. It was on track to eke out a weekly increase of around 0.2%, its 10th rise in as many weeks.

Persons: Florence Lo, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, RBC's Tan, Treasuries, Ray Sharma, Ong, Sterling, BoE, Harry Robertson, Rae Wee, Christopher Cushing, Sonali Paul, Christina Fincher Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, Asia FX, RBC Capital Markets, Japan's Finance, Ministry, Finance, Bank of England, Thomson Locations: SINGAPORE, France, Asia, Tokyo, London, Singapore

☆ Britain says may clear restructured Microsoft-Activision deal
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 22 - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. The Ubisoft divestment "substantially addresses previous concerns," the UK's Competition and Markets Authority (CMA) said in a statement. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The CMA said there were "residual concerns" that certain provisions in the Ubisoft deal could be circumvented, terminated or not enforced.

Persons: Dado Ruvic, Brad Smith, Yadarisa, Paul Sandle, Varun, Jason Neely Organizations: Microsoft, Activision, REUTERS, Activision Blizzard, Ubisoft Entertainment, Ubisoft, Markets Authority, CMA, Thomson Locations: U.S, Bengaluru, London

Chevron/Handout via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies Strikes end at Gorgon, Wheatstone LNG operationsUnions, Chevron accept proposals from industrial umpireUnions pushed Chevron to match Woodside pay dealSYDNEY, Sept 22 (Reuters) - An Australian union alliance on Friday called off strikes at Chevron's (CVX.N) two major local liquefied natural gas (LNG) projects, agreeing to resolve disputes that had threatened to disrupt around 7% of global LNG supplies. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers suspended strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. YEARS-LONG CAMPAIGNThe deal caps a years-long campaign by the Offshore Alliance for higher pay and better conditions at major Western Australian LNG sites. A 2022 agreement with Japan's Inpex at its Ichthys LNG operation set a benchmark for subsequent talks with Shell, Woodside and Chevron.

Persons: Brad Gandy, Japan's, Saul Kavonic, Yin, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Shell, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Woodside, Chevron, Australia, Sydney, Singapore

☆ California lets insurers factor wildfire risks in rates to widen coverage
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

A house is fully engulfed by flames at the Dixie Fire, a wildfire near the town of Greenville, California, U.S. August 5, 2021. REUTERS/Fred Greaves/File Photo Acquire Licensing RightsCompanies Liberty Mutual Group Inc FollowSept 21 (Reuters) - California Insurance Commissioner Ricardo Lara took steps on Thursday to allow property insurers to factor in climate risks including wildfires in rate prices, if they increase underwriting in at-risk areas to wean consumers off state-funded coverage. The measures by the state's insurance regulator follow an executive order by Governor Gavin Newsom urging regulatory action to expand coverage in underserved areas, account for catastrophe risks in rates, and keep the FAIR Plan solvent. The continued retreat of larger insurance carriers from the California residential property insurance market signals ongoing regulatory constraints, rising cost inflation, and higher catastrophe losses, credit rating agency Fitch said in a note earlier this year. Reporting by Deep Vakil in Bengaluru; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Fred Greaves, Ricardo Lara, Lara, Gavin Newsom, Gallagher, Fitch, Jamie Freed Organizations: REUTERS, Companies Liberty Mutual Group, California Insurance, State Farm, Liberty Mutual, FAIR, Gallagher Re, Thomson Locations: Greenville , California, U.S, California, Florida, Bengaluru

But the executive transition does not settle another potential power play that could occur upon Rupert Murdoch’s death, as framed by a document called the Murdoch Family Trust. It is the vehicle through which the elder Murdoch controls News Corp and Fox Corp, through a roughly 40% stake in voting shares of each company. The Murdoch Family Trust has eight votes: four of which are controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. Upon succession, the four older children will equally inherit Murdoch’s voting shares in the trust, according to Alice Enders, Head of Research at Enders Analysis. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Lachlan, Mike Blake, Lachlan Murdoch, Rupert Murdoch’s, Murdoch, Prudence, Elisabeth, James –, Murdoch’s, Chloe, Grace, Wendi Deng, Alice Enders ,, “ It’s, ”, Enders, “, Helen Coster, Stephen Coates Organizations: Fox Executive, Allen, REUTERS, News Corp, Corp, Fox Corp, Trust, The, Alice Enders , Head, Research, Enders Analysis, Fox, Thomson Locations: Sun Valley , Idaho, Murdoch, The Reno , Nevada, Melbourne, New York

[1/5] People stand outside an Apple Store as Apple's new iPhone 15 officially goes on sale across China, in Shanghai, China September 22, 2023. REUTERS/Aly Song Acquire Licensing RightsSHANGHAI/BEIJING, Sept 22 (Reuters) - Over a hundred customers queued inside Apple's (AAPL.O) flagship store in the Chinese financial hub of Shanghai on Friday, waiting to pick up their iPhone 15 orders on the first day of in-store availability. But the strength of pre-orders in the world's second-largest economy, which began last Friday, has eased worries, with delivery times pushed into November and the premium iPhone 15 Pro and Pro Max selling out in just one minute on Alibaba's (9988.HK) Tmall e-commerce site. Among those at the store was social media influencer Zhang Ming, 25, who said she wanted to try out the iPhone 15 after being unsuccessful in pre-ordering online. The iPhone 15 includes a new titanium shell, a faster chip and improved videogame-playing abilities.

Persons: Aly, Pro Max, Zhang Ming, Apple, Wang Puyu, Nicoco Chan, Brenda Goh, Christopher Cushing Organizations: Apple, REUTERS, Rights, Huawei, Pro, HK, Tmall, Shanghai, Thomson Locations: China, Shanghai, Rights SHANGHAI, BEIJING, Nanjing, Mo, Beijing

Lachlan Murdoch and his siblings attended Dalton, a private school on Manhattan’s Upper East Side, and other elite schools, including Trinity School. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. [1/3]Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. As chief executive of Fox Corp since 2019, Lachlan Murdoch has presided over the media properties during seismic change in the industry, as viewers cut cable subscriptions in favor of streaming services.

Persons: Lachlan Murdoch, Rupert Murdoch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corp’s, Paddy Manning’s, “, Lachlan, James, Dalton, Manning, Robert Deutsch, Walt Disney, Brother James Murdoch, Chris Mitchell, ”, James Murdoch, Kathryn, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, Princeton, News Ltd, U.S ., New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Daily, Dominion Voting Systems, Thomson Locations: Australia, United States, London, New York, U.S, Illyria, NRG, Houston , Texas, Los Angeles

☆ Not much exciting about Aussie banks as high costs pressure earnings - Macquarie
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Australia's "Big Four" banks - among the top seven listed companies in the country - control 75% of the country's A$2 trillion mortgage market. That euphoria is now largely over as high living costs impact borrowers' capacity to repay loans. Macquarie, an investment bank with a small retail banking operation, said banks' cost bases are likely to remain under pressure as more than 70% of their expenses related to personnel. Macquarie added that it expects banks' expenses to grow by around 1% to 7% in fiscal 2023 through to fiscal 2025, with third-biggest lender Westpac Banking Corp (WBC.AX) seen being impacted more than its peers. The regional banks will remain disadvantaged in the current environment as they will have to continue to invest to keep up, Macquarie said, estimating up to 4% higher expenses than consensus.

Persons: Macquarie, Sameer Manekar, Janane Organizations: Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Bendigo, Bengaluru

☆ Asia stocks find footing, yen slides as BOJ holds the line
▼ + stars: | 2023-09-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

A man is reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. The BOJ, as expected, maintained super-low interest rates, left its yield control policy unchanged, signalling it was in no rush to phase out its massive monetary stimulus. A surge in oil prices has also been unnerving investors, since it is likely to prolong the inflation pulse. Brent crude futures steadied at $93.51 a barrel on Friday and are up nearly 8% for September so far. Elsewhere in foreign exchange markets the expectation of sticky U.S. interest rates has supported the dollar, which reached a six-month peak on the euro overnight at $1.0671 .

Persons: Issei Kato, Kazuo Ueda, Ray Attrill, Andrew Bailey, Craig Ebert, Tom Westbrook, Edmund Klamann, Kim Coghill Organizations: REUTERS, Rights, Bank of Japan, FX, National Australia Bank, Japan's Nikkei, Seng, Federal Reserve, Bank of, Swiss National Bank, Brent, JPMorgan, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Singapore, Asia, Pacific, Hong Kong, China, Bank of England, Central, Sweden, Norway, BNZ, Wellington

☆ Yen falls after BOJ stands pat on easy policy; dollar elevated
▼ + stars: | 2023-09-22 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The yen last bought 148.09 per U.S. dollar. Sterling similarly eked out a 0.3% gain against the Japanese currency to trade at 181.80 yen. "I guess people were expecting the BOJ to leave policy unchanged but perhaps tweak the wording a bit to remove the accommodative stance." The New Zealand dollar edged 0.08% higher to $0.5936 and was eyeing a weekly gain of more than 0.5%.

Persons: Florence Lo, Kazuo Ueda, Sterling, Siong Sim, Shunichi Suzuki, Ray Sharma, Ong, BoE, Daniela Hathorn, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Bank of Singapore, Treasury, Federal Reserve, Japan's Finance, New Zealand, Fed, Bank of England, Capital.com, Thomson Locations: Rights SINGAPORE

☆ Australia fines lender NAB $1.4 mln for wrongfully charging fees
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsCompanies National Australia Bank Ltd FollowSept 22 (Reuters) - The Australian Federal Court has fined the country's second-biggest lender National Australia Bank (NAB) <NAB.AX> a penalty of A$2.1 million ($1.4 million) for wrongfully charging customers periodic payment fees, the securities regulator said on Friday. Between January 2017 and July 2018, National Australia Bank continued to charge its customers periodic payment fees for transferring money despite knowing it had no contractual entitlement to do so, the Australian Securities & Investments Commission (ASIC) said. The bank wrongfully charged 2,888 personal banking customers and 513 business clients payment fees totalling A$139,845 on 74,593 occasions, the regulator added. Shares of NAB were trading 0.7% lower as of 0221 GMT after declining as much as 1.3% earlier in the day.

Persons: Daniel Munoz, Sarah Court, Sameer Manekar, Ayushman, Janane Venkatraman, Dhanya Ann Thoppil Organizations: National, REUTERS, National Australia Bank, Australian Federal Court, Australia Bank, Australian Securities & Investments Commission, NAB, Reuters, Royal Commission, Thomson Locations: Sydney, Australia, Bengaluru

☆ Warner Bros to expand British studios' production capacity by over 50%
▼ + stars: | 2023-09-22 | by ( David Lawder | ) www.reuters.com time to read: +2 min

The exterior of the Warner Bros. REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsSept 21 (Reuters) - Warner Bros Discovery (WBD.O) on Thursday said it planned to expand production capacity at its Leavesden studios near London by more than 50%, adding 10 new sound stages to the facility where much of the "Barbie" blockbuster and HBO's "House of the Dragon" were filmed. Hunt told Reuters in a telephone interview that the investment would total 245 million pounds ($301 million). Warner Bros said it would increase the value of Leavesden's annual film and television production by 200 million pounds ($245.9 million), bringing it to 600 million pounds ($737.6 million a year, Warner Bros Discovery said. Hunt said the Leavesden project "is a huge vote of confidence in the UK" and will benefit from longstanding British tax breaks for local film and television production.

Persons: Alyssa Pointer, Jeremy Hunt, Hunt, Warner Bros, David Lawder, Chris Reese, Michael Perry Organizations: Warner Bros . Discovery, REUTERS, Warner Bros Discovery, British Finance, Reuters, Warner, Warner Bros, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, London, Los Angeles, California, Silicon

☆ Australia posts first budget surplus in 15 years as tax revenues soar
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Reed Acquire Licensing RightsSYDNEY, Sept 21 (Reuters) - Australia on Friday recorded a final budget surplus of A$22.1 billion ($14.2 billion) for the year to June 2023, five times earlier estimates, as strong jobs growth and bumper mining profits helped the country post the first surplus in 15 years. In its May budget, the Labor government had projected a surplus of A$4.2 billion, a huge turnaround from the pandemic-driven deficits of the two previous years. However, the budget is projected to return to deficit this year amid intensifying spending pressures on healthcare, energy and defence. By banking revenue upgrades, the government lowered gross debt by A$87.2 billion and will avoid around A$12 billion in interest payments over the five years to 2026-27. Chalmers said in July the budget surplus was likely to be a little over A$20 billion for the past financial year.

Persons: Jason Reed, Jim Chalmers, Chalmers, Stella Qiu, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Treasury, Labor, ABC News, Thomson Locations: Australia's, Australia

[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The union alliance and Chevron accepted proposals on pay and conditions from the country's industrial arbitrator for the Gorgon and Wheatstone LNG facilities, and workers were set to end strikes that began two weeks ago. "The Offshore Alliance will now work with Chevron to finalise the drafting of the agreement and members will soon cease current industrial action," Offshore Alliance spokesperson Brad Gandy said in a statement. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant. Energy analyst Saul Kavonic said the deal should see an end to most industrial action offshore Western Australia with union agreements, which last for around four years, now in place for most offshore LNG sites.

Persons: Brad Gandy, Saul Kavonic, Renju Jose, Lewis Jackson, Alasdair Pal, Florence Tan, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, Unions, Woodside, SYDNEY, Offshore Alliance, Woodside Energy, Energy, North West Shelf, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney, Singapore

REUTERS/Michael Swensen Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - United Auto Workers (UAW) members rallied against the Detroit Three automakers in multiple U.S. states on Thursday afternoon as Friday's deadline loomed for a threatened expansion of the union's strikes. The UAW last week launched unprecedented, simultaneous strikes at one assembly plant each of General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). UAW workers want to end a tiered wage structure that they say has created a large gap between newer and older employees, forcing some to work two jobs to make ends meet. On Thursday morning, Fain posted a video message on X, formerly known as Twitter, to UAW members about the Friday deadline, showing scenes from several Hollywood movies with the characters saying "tick tock." Fain has said Detroit automakers have not shared their huge profits with workers while enriching executives and investors.

Persons: Phaedra Grant, Michael Swensen, Ayanna Dixon, Shawn Fain, Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre said, Ram, Morgan Stanley, Adam Jonas, Eikon, Mark Reuss, Reuss, Tesla, Bianca Flowers, Hyunjoo Jin, David Shepardson, Ben Klayman, Kannaki, Peter Henderson, Jamie Freed, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, Rights, United Auto Workers, Detroit Three, General Motors, Chrysler, Reuters, GM, GM's, Silverado, Detroit, Detroit Free Press, Toyota, Tacoma, EV, Thomson Locations: Louisville , Kentucky, U.S, Chicago, San Francisco, Louisville, Washington, Detroit, Bengaluru

[1/2] A general view of Chevron's Wheatstone LNG facility in Pilbara coast, Western Australia, as seen in this undated handout image obtained by Reuters on September 8, 2023. The agreement would resolve a wage fight that has roiled global gas markets since early August, amid fears strikes would disrupt output from Chevron's Gorgon and Wheatstone LNG projects that produce around 7% of the world's LNG supply. On Thursday, the Fair Work Commission (FWC), which has the power to impose a settlement, said it "strongly recommended" parties accept its proposals to end work stoppages. Chevron accepted arbitration terms late on Thursday to resolve all outstanding issues and finalise the agreements with the unions. No LNG shipments were disrupted by the industrial action, even after a fault at the Wheatstone plant.

Persons: Brad Gandy, Renju Jose, Lewis Jackson, Alasdair Pal, Shri Navaratnam, Sonali Paul Organizations: Reuters, Chevron, Handout, REUTERS, SYDNEY, Offshore Alliance, Woodside Energy, Thomson Locations: Wheatstone, Western Australia, Australian, Chevron's, Australia, Sydney

The data comes hours before the Bank of Japan (BOJ) concludes its two-day policy meeting that began on Thursday. While government subsidies pushed down utility bills, prices rose for a range of food and daily necessities in a sign that steady inflation was taking hold in the world's third-largest economy. "The persistent stickiness of inflation means the BOJ will need to revise up their inflation forecasts at its October meeting," said Gabriel Ng, an economist at Capital Economics. After hitting a peak of 4.2% in January, core inflation continued to slow as the effects of last year's sharp rises in fuel and raw material prices dissipate. But some analysts say the slowdown has not been as large as expected due to steady rises in food prices, and could keep inflation above the BOJ's target longer than initially thought.

Persons: Kazuo Ueda, Gabriel Ng, Ueda, Leika Kihara, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, Capital Economics, Thomson Locations: TOKYO

U.S. District Judge Matthew Kacsmaryk in Amarillo, Texas, declined to block the rule, which took effect Jan. 30. The judge granted a petition by President Joe Biden's administration to dismiss the Republican-led states' lawsuit claiming the rule will jeopardize millions of Americans' retirement savings. Kacsmaryk in a 14-page opinion rejected the states' claim that the rule violates the federal law governing retirement plans. The rule still requires that financial considerations come first, and does not create "an overarching regulatory bias in favor of ESG strategies," the judge wrote. Kacsmaryk, a Trump appointee, in March rejected the Biden administration's claim that the states were improperly "judge shopping" by filing the lawsuit in Amarillo, where Kacsmaryk is the only judge.

Persons: Joe Biden, Kevin Lamarque, Matthew Kacsmaryk, Joe Biden's, Biden, Donald Trump's, Trump, Daniel Wiessner, Dan Whitcomb, David Gregorio, Lincoln Organizations: Major Economies, White, REUTERS, Companies Liberty Energy, Biden, U.S, District, Republican, U.S . Department of Justice, Liberty Energy Inc, Democrat, Trump, Thomson Locations: Energy, Washington , U.S, Texas, Amarillo , Texas, Utah, New Orleans, Amarillo

SYDNEY, Sept 22 (Reuters) - Vietnamese internet company VNG Ltd has delayed a $150 million U.S. initial public offering (IPO) due to volatile market conditions, a person with direct knowledge of the matter told Reuters. The person spoke on condition of anonymity as the information is not yet public. Founded in 2004, VNG was Vietnam's first unicorn, or a startup valued at $1 billion or more. VNG still aims to carry out a New York listing, likely in the first half of 2024, they added. Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore; Editing by Himani Sarkar and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: VNG, Scott Murdoch, Yantoultra, Himani Sarkar, Rashmi Organizations: VNG, Reuters, U.S, Thomson Locations: New York, Sydney, Singapore

A few compounds picked by AI are now in development, but those bets will take years to play out. Reuters interviews with more than a dozen pharmaceutical company executives, drug regulators, public health experts and AI firms show, however, that the technology is playing a sizeable and growing role in human drug trials. The U.S. Food and Drug Administration (FDA) said it had received about 300 applications that incorporate AI or machine learning in drug development from 2016 through 2022. Without AI, Bayer said it would have spent millions more, and taken up to nine months longer to recruit volunteers. Finding real-world patients by mining electronic patient data can be done manually, but using AI speeds up the process dramatically.

Persons: Dado Ruvic, Jeffrey Morgan, Amgen, Badhri Srinivasan, Sameer Pujari, drugmaker Bayer, Bayer, Blythe Adamson, Roche, Richard Pazdur, Gen Li, John Concato, Natalie Grover, Martin Coulter, Julie Steenhuysen, Josephine Mason, David Clarke Organizations: Pharmaceutical Research, REUTERS, Pharmaceutical, Bayer, Novartis, Deloitte, U.S . Food, Drug Administration, Reuters, World Health, Flatiron Health, FDA, European Medicines Agency, FDA's Oncology, Excellence, Medical, FDA's Center, Drug, Research, Thomson Locations: U.S, Johannesburg, Texas, Finland, United States, London, Chicago

☆ Green energy’s tailwinds blow the other way
▼ + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.

Persons: Rishi Sunak, –, Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico

☆ Poland issues environmental permit for first nuclear power plant
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-Polish Minister of Climate an Environment Anna Moskwa, speaks during an interview with Reuters at Enviroment Ministry headquarter in Warsaw, Poland, June 15, 2023. REUTERS/Kuba Stezycki/File Photo Acquire Licensing RightsWARSAW, Sept 22 (Reuters) - Poland has issued an environmental permit for the country's first nuclear power plant, state run news agency PAP reported on Friday, citing Climate Minister Anna Moskwa. According to Poland's General Directorate for Environmental Protection (GDOS), the building and operation of the plant will not adversely affect the environment, and its impact will be monitored, PAP reported. Warsaw plans to build its first nuclear power plant on the Baltic coast by 2033. The U.S. consortium and Polish utility Polskie Elektrownie Jądrowe are expected to sign an engineering services contract next week, according to Bechtel.

Persons: Anna Moskwa, Kuba, Moskwa, Bechtel, Marek Strzelecki, Christina Fincher Organizations: Reuters, Enviroment Ministry, REUTERS, Rights, Environmental Protection, Westinghouse Electric Co, U.S ., Polskie, Bechtel, Thomson Locations: Polish, Warsaw, Poland, Baltic

☆ Shein shifts shipping strategy to bring China-made goods closer to US shoppers
▼ + stars: | 2023-09-22 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

The move also marks a strategy shift for Shein, which has traditionally flown goods directly from China to shoppers. Goods eligible for QuickShip are delivered significantly faster than Shein's standard shipping times, which can range from nine to 14 days, according to estimates on its website. Importing high-demand products in bulk helps Shein save money, a person familiar with Shein's strategy said, as ocean shipping is significantly less costly than air freight. Shipping goods by air directly from China is a strategy that helps the e-tailer avoid unsold inventory piling up in warehouses, according to Juozas Kaziukenas, founder of e-commerce analytics firm Marketplace Pulse. Prior to 2020, Shein imported no clothing by ocean freight, according to the ImportGenius data.

Persons: Chen Lin, ImportGenius, Shein, AWEIGH Shein, Juozas Kaziukenas, Katherine Masters, Matthew Lewis Organizations: REUTERS, Reuters, Walmart, UBS, U.S . House, PDD Holdings, Shipping, Thomson Locations: Singapore, China, U.S, Whitestown , Indiana, Shein, Indiana, Cherry Valley , California, York

Ukraine President Volodymyr Zelenskiy listens during an event to thank Americans for their support of Ukraine in the war with Russia, at the National Archives in Washington, U.S., September 21, 2023. REUTERS/Evelyn Hockstein/file photo Acquire Licensing RightsOTTAWA, Sept 22 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Friday makes his first visit to close ally Canada, where he is guaranteed a warmer welcome than he received from some U.S. politicians skeptical about providing more military aid. Zelenskiy is due to address parliament in Ottawa and then hold a news conference with Trudeau. "If friends of Ukraine want Ukraine to win the war, then the only way that happens is with renewed and more military support." There are 1.4 million people of Ukrainian descent in Canada, the third most after Ukraine and Russia.

Persons: Volodymyr Zelenskiy, Evelyn Hockstein, Kyiv's, Justin Trudeau, Zelenskiy, Trudeau, Ihor Michalchyshyn, David Perry, David Ljunggren, Deepa Babington Organizations: National Archives, REUTERS, Rights, Ukrainian Canadian Congress, NATO, Canadian, Ottawa, Canadian Global Affairs Institute, Thomson Locations: Ukraine, Russia, Washington , U.S, Canada, New York, Ottawa, In Washington, United States, Germany

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