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NASA's Scientific Visualization StudioTens to hundreds of millions of people across the US will get to experience a partial solar eclipse on April 8. Scout your spot — then have a backupClouds can block out and ruin the experience of a total solar eclipse. Laurie Ambrose/Getty ImagesThe most important factor for great eclipse photos is something we can’t control: the weather. Consider renting equipmentYou can see the solar corona as thin white whisps jutting out from the moon's shadow in this photo of a total solar eclipse. Enjoy itThis year's total solar eclipse is a once-in-a-lifetime event for some.
Persons: , ” astrophotographer Jon Carmichael, what's, Carmichael, Andrew Studer, you’re, “ It’s, Laurie Ambrose, Getty, Jon Carmichael, Studer, PhotoPills, Doug Duncan, Jon Carmichael It’s, ” Carmichael, Manfred Gottschalk, you’ve, It’s, ” Studer, Thomson, Jon Carmichael Carmichael’s, keng cheong, Sean Gallup Organizations: Service, Business, National Geographic, BBC, Great, Hubble Space, Thomson Reuters, Getty Locations: Texas, Maine
Israel's Netanyahu Says Victory in Gaza Is Within Reach
  + stars: | 2024-02-07 | by ( Feb. | At P.M. | )   time to read: 1 min
JERUSALEM (Reuters) - Israeli Prime Minister Benjamin Netanyahu said on Wednesday total victory in Gaza was within reach as he rejected the latest offer from Hamas for a ceasefire to ensure the return of hostages still held in the besieged enclave. Netanyahu renewed a pledge to destroy the Islamist movement, saying there was no alternative for Israel but causing the collapse of Hamas. "The day after is the day after Hamas. All of Hamas," he told a news conference. (Reporting by Henriette Chacar; Editing by James Mackenzie and Gareth Jones)Copyright 2024 Thomson Reuters.
Persons: Benjamin Netanyahu, Netanyahu, Henriette Chacar, James Mackenzie, Gareth Jones, Thomson Organizations: Thomson Reuters Locations: JERUSALEM, Gaza, Israel
(Reuters) - The U.S. Central Command said on Saturday that U.S. forces conducted strikes in self-defense against six Houthi anti-ship cruise missiles prepared to launch against ships in the Red Sea. U.S. forces identified the cruise missiles in Houthi-controlled areas of Yemen and determined they presented an imminent threat to U.S. Navy ships and merchant vessels in the region, the statement added. (Reporting by Gursimran Kaur in Bengaluru; Editing by Diane Craft)Copyright 2024 Thomson Reuters.
Persons: Gursimran Kaur, Diane Craft, Thomson Organizations: Reuters, U.S . Central Command, U.S . Navy, Thomson Reuters Locations: Red Sea . U.S, Yemen, Bengaluru
CAIRO (Reuters) -No attack on the al-Harir air base hosting U.S. forces in northern Iraq was detected on Saturday, three security sources told Reuters, shortly after Islamic Resistance in Iraq militants claimed to have targeted the base. On Friday, the U.S. military launched airstrikes in Iraq and Syria against more than 85 targets linked to Iran's Revolutionary Guard (IRGC) and the militias it backs, in retaliation for last weekend's drone attack in northeastern Jordan that killed three U.S. troops. Since the Israel-Hamas war in the Palestinian territory of Gaza began in October, the U.S. military has come under attack at least 100 times in Iraq and Syria, usually with a mix of rockets and one-way attack drones. (Reporting by Timour Azhari and Enas Alashray; editing by Mark Heinrich)Copyright 2024 Thomson Reuters.
Persons: Timour Azhari, Mark Heinrich, Thomson Organizations: Reuters, Iraq, U.S ., Revolutionary Guard, Thomson Reuters Locations: CAIRO, Iraq, Syria, Jordan, Israel, Gaza
Thomson Reuters Buys Majority Stake in Pagero
  + stars: | 2024-01-15 | by ( P.R. Venkat | )   time to read: 1 min
The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City. Photo: carlo allegri/ReutersThomson Reuters said it has bought a majority stake in the Pagero Group , taking it closer toward full control of the latter. Apart from the key shareholders, including Summa Equity, Pagero’s chief executive Bengt Nilsson, several members of the management team and employees, have sold their stock to the company, Thomson Reuters said Monday.
Persons: carlo allegri, Reuters Thomson, Bengt Nilsson, Thomson Organizations: Thomson Reuters, Reuters, Reuters Thomson Reuters, Pagero, Summa Equity Locations: Manhattan, New York City
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. The company's vast data sets could be particularly useful for companies like OpenAI, Microsoft, or Google that are building generative AI features. AdvertisementSome media companies, including Business Insider owner Axel Springer, have already signed licensing deals with AI providers. Apple is also in discussions with some news publishers to gain access to content to bolster its generative AI efforts, per a New York Times report.
Persons: , Thomson, We've, Steve Hasker, Axel Springer, Axel Springer's, OpenAI Organizations: Service, Thomson Reuters, Bloomberg, Business, Reuters, Microsoft, Politico, New York Times
Economists polled by Reuters had forecast 9.30 million job openings in October. Job openings decreased by 168,000 in the finance and insurance industry, while real estate, rental and leasing had 49,000 fewer positions. The job openings rate dropped to 5.3% from 5.6% in September. "The current state of the labor market suggests no further recalibration is necessary to bring the labor market back into balance," said Nick Bunker, director of economics research at Indeed Hiring Lab. They also described the labor market as remaining "very competitive," and "trying to get to full staff levels."
Persons: Brian Snyder, Rubeela Farooqi, Nick Bunker, Conrad DeQuadros, November's, Bill Adams, Lucia Mutikani, Chizu Organizations: Taylor Party, Equipment Rentals, REUTERS, Labor, Survey, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Brean, Institute for Supply Management, PMI, United Auto Workers, UAW, Comerica Bank, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, White Plains , New York, South, Midwest, New York, East, Dallas
Johnson & Johnson forecasts as much as 6% sales growth in 2024
  + stars: | 2023-12-05 | by ( )   time to read: +2 min
Dec 5 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday forecast revenue growth of 5-6% for the next year, as it banks on strong demand for cancer treatments Darzalex and Carvykti and resilient sales of blockbuster drug Stelara. The company has narrowed its focus on its drugs and medical devices business since it hived off its consumer health unit earlier this year. Sales of blockbuster psoriasis treatment Stelara in Europe are expected to come under pressure as early as next year as a key patent on the drug expires. Sales of the drug largely come from its use as a treatment for inflammatory bowel diseases (IBD), Wolk said. J&J's 2024 revenue growth forecast excludes sales of its COVID vaccine.
Persons: Johnson, Joseph Wolk, Wolk, J, Bhanvi, Patrick Wingrove, Anil D'Silva Organizations: Johnson, Thomson Locations: Europe, United States, Bengaluru, New York
Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year's spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Coinbase (COIN.O), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates, the Blockchain Association and Binance Holdings. Although those bills have yet to advance further, crypto lobbyists are not letting up.
Persons: Marco Bello, spender, FTX, Foris DAX, Kristin Smith, Sam Bankman, Fried, Coinbase, Binance,, Hannah Lang, Michelle Price, Matthew Lewis Organizations: REUTERS, Rights, Blockchain Association, Binance Holdings, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Miami Beach , Florida, U.S, Washington, Manhattan, Binance
Grand Theft Auto The Trilogy by Take-Two Interactive Software Inc is seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsDec 4 (Reuters) - Rockstar Games, owned by Take-Two Interactive Software (TTWO.O), on Monday released a trailer of the latest installment of its best-selling "Grand Theft Auto" (GTA) videogame franchise, ending a years-long wait. "GTA VI" will be released in 2025, according to the trailer posted to the studio's YouTube channel, after a version was leaked on social media. The teaser for the game came in more than a decade after the launch of its predecessor and will coincide with the 25th anniversary of Rockstar Games. A hack last year released dozens of development videos of "GTA VI", showing footages of robberies, gunplay and open-world driving in what was one of the biggest gaming leaks.
Persons: Andrew Kelly, Grant, Chandni Shah, Sherry Jacob, Phillips Organizations: Inc, REUTERS, Rockstar Games, YouTube, Thomson Locations: Manhattan , New York City, U.S, Bengaluru
REUTERS/Jonathan Ernst//File Photo Acquire Licensing RightsLITTLETON, Colorado, Dec 5 (Reuters) - U.S. electricity generation from wind power is on course to surpass coal-fired electricity generation, potentially by 2026, as wind supply growth expands at a record pace just as coal-fired generation is cut across the country. U.S. wind power generation on track to surpass coal-fired generationBut with wind power generation rapidly rising in most regions while utilities steadily cut coal capacity, wind output is on track to eventually overtake coal output within the U.S. electricity generation mix, which will mark a significant milestone in U.S. energy transition efforts. In 2015 - before U.S. power producers accelerated renewable power development - coal-fired electricity generation was nearly 700% greater than electricity output from U.S. wind farms. PEAKS AND TROUGHSU.S. wind generation already briefly surpassed total coal-fired power output in April this year, when wind electricity generation totalled 42.85 terawatt hours compared to the 39.8 TWh generated by coal plants, according to Ember. That means that within the current decade U.S. wind power will be able to surpass coal-fired power in the electricity generation mix, and help accomplish a major U.S. energy transition target.
Persons: Jonathan Ernst, Gavin Maguire, Stephen Coates Organizations: REUTERS, Institute for Energy Economics, U.S, P Global, Reuters, Thomson Locations: Iowa, Latimer , Iowa, U.S, LITTLETON , Colorado, United States
A man talks on the phone during the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 4, 2023. REUTERS/Amr Alfliky Acquire Licensing RightsDec 5 (Reuters) - Six of the world's largest dairy companies will soon begin disclosing their methane emissions as part of a new global alliance launched at the United Nations climate summit in Dubai on Tuesday. Livestock is responsible for about 30% of global anthropogenic methane emissions, from sources like manure and cow burps, according to the U.N.'s Food and Agriculture Organization. The five members of the Dairy Methane Action Alliance - Danone (DANO.PA), Bel Group, General Mills (GIS.N), Lactalis USA, Kraft Heinz (KHC.O) and Nestle (NESN.S) - will begin reporting their methane emissions by mid-2024 and will write methane action plans by the end of that year. Danone this year pledged to cut methane emissions from its fresh milk supply chain by 30% by 2030.
Persons: Amr Alfliky, General Mills, Kraft Heinz, Chris Adamo, There’s, Katie Anderson, Anderson, Leah Douglas, Josie Kao Organizations: United Nations, Change, United Arab Emirates, REUTERS, United, Livestock, Agriculture Organization, Danone, Bel Group, General, Lactalis, Nestle, U.S . Environmental Protection Agency, Clean Air Coalition, United Nations Environment Programme . Companies, Environmental Defense, EDF, Reuters, Thomson Locations: Dubai, United Arab, United Nations, Lactalis USA
"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.
Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia
A padlock is seen in front of the word 'spyware' and binary code in this illustration taken May 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Dec 5 (Reuters) - Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc's markets, according to a letter sent to the EU industry chief. A requirement that Amazon (AMZN.O), Alphabet's (GOOGL.O) Google, Microsoft (MSFT.O) and other non-EU cloud providers set up a joint venture with an EU-based company to qualify for the EU cybersecurity label has triggered criticism from some EU countries and foreign vendors. The Japan Association of New Economy also slammed these requirements. The Japan Association of New Economy is a business lobby group focused on e-business and developing new industries.
Persons: Dado Ruvic, Hiroshi Mikitani, Thierry Breton, Mikitani, Foo Yun Chee, Dave Dolan, Miral Organizations: REUTERS, Rights, Japan Association of New, U.S, Big Tech, European Union, Google, Microsoft, EU, Reuters, Japan Digital Partnership, Thomson Locations: EU, Japan, Japanese, Brussels, Tokyo
[1/2] Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. While all manufacturers including Samsung (005930.KS) have agreed to India's plan, Apple is pushing back. Apple, whose India lobbying efforts are being reported for the first time, and India's IT ministry, did not respond to Reuters requests for comment. Renowned Apple analyst Ming-Chi Kuo has estimated 12-14% of iPhone production in 2023 will be from India, with the number set to rise to as much as 25% next year. In terms of market share, Apple accounts for 6% of India's booming smartphone market, compared with just about 2% four years ago.
Persons: Francis Mascarenhas, Apple, Narendra Modi, Ming, Chi Kuo, Prabhu Ram, Aditya Kalra, Susan Fenton Organizations: Apple, REUTERS, DELHI, European Union, Samsung, India's, Reuters, IT, Research, Indian, Consumers, Industry Intelligence, CyberMedia, Thomson Locations: Mumbai, India, New Delhi, U.S, KS, EU, PLI, China
Signage is seen for British utility company Thames Water at a repair site in London, Britain, June 28, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Thames Water, Britain's biggest water utility, is proceeding with a three-year turnaround plan, it said on Tuesday, adding it had a high level of liquidity and the support of investors, as it seeks to ease concern over its financial stability. Thames Water's environment record has also come under scrutiny. "Our shareholders support this much needed investment, underscoring their commitment to delivering Thames' turnaround." Robert Goodwill, chairman of Britain's environment, food and rural affairs committee, said that he may need to ask Thames Water bosses further questions.
Persons: Toby Melville, Cathryn Ross, Alastair Cochran, Robert Goodwill, Sarah Young, Kate Holton, Barbara Lewis Organizations: Thames, REUTERS, Media, Thames Water, Ontario, China Investment Corp, Thomson Locations: London, Britain, Thames
The Global Cooling Pledge would mark the world's first collective focus on energy emissions from the cooling sector. That would equal one-tenth of expected global emissions, the report said, and would strain electric grids. Organizers hope to see at least 80 countries supporting the cooling pledge, given the urgent need to slash climate-warming emissions and keep people safe from dangerous heatwaves. Nearly three-quarters of the potential for reducing cooling emissions by mid-century can be found in G20 countries, the UNEP report said. UNEP estimates that global efforts to tackle cooling emissions could avoid the release of up to 78 billion metric tonnes of carbon dioxide equivalent.
Persons: Amr Alfiky, Brian Dean, Gloria Dickie, Sarita Chaganti Singh, Katy Daigle Organizations: United Nations, Change, United Arab Emirates, REUTERS, Rights, U.S . State Department, United Nations Environment Programme, Reuters, U.S . Environmental Protection Agency, Sustainable Energy, UNEP, Thomson Locations: Dubai, United Arab, United States, U.S, Kenya, India
File photo: A person holds a photo of late Haitian President Jovenel Moise, who was shot dead earlier this month, during his funeral at his family home in Cap-Haitien, Haiti, July 23, 2021. Vincent was arrested days after the attack alongside another Haitian-American, James Solages. At these meetings, the filing said, Vincent often wore a U.S. State Department pin leading people to believe he was employed by the U.S. government. Jaar and Rivera were both sentenced to life in prison, while John is expected to be sentenced on Dec. 19. Reporting by Sarah Morland and Kylie Madry; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
Persons: Jovenel Moise, Ricardo Arduengo, Joseph Vincent, Vincent, Jovenel Moise's, Prince, James Solages, Solages, Christian Sanon's, Moise, Vincent's, Joseph Joel John, German Rivera, Rodolphe Jaar, Jaar, Rivera, John, Sarah Morland, Kylie Madry, Bill Berkrot Organizations: REUTERS, U.S . Drug Enforcement Administration, U.S . State Department, U.S ., Thomson Locations: Cap, Haitien, Haiti, U.S, American, Colombian, Florida, Haitian, Chilean
[1/2] Israeli soldiers stand in order, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, near Israel's border with Gaza, in southern Israel, December 4, 2023. The U.S. official spoke after three days of resumed aerial bombardments of southern Gaza left residents pulling the bodies of children and adults from the rubble. But the U.S. official said reducing military support to Israel would carry major risks. On Friday, Israel's military began posting grid-based maps online ordering Palestinians to leave parts of southern Gaza, directing them towards the Mediterranean coast and Rafah, near the Egyptian border. Residents and journalists on the ground said intense Israeli airstrikes hit southern Gaza on Monday, killing and wounding dozens of Palestinians.
Persons: Amir Cohen, Israel's, Biden, Kamala Harris, Antony Blinken, Israel, Benjamin Netanyahu, Ophir Falk, Seth Binder, Binder, Eylon Levy, Jake Sullivan, Omar Shakir, Humeyra Pamuk, Jonathan Saul, Maggie Fick, James Mackenzie, Steve Holland, Don Durfee, Daniel Wallis Organizations: Hamas, REUTERS, U.S, Health Ministry, Washington, United, Reuters, Reuters Graphics, East Democracy, Biden, Democratic, Israel, . National, Palestine, Human Rights, Amnesty, Thomson Locations: Israel, Palestinian, Israel's, Gaza, LONDON, BEIRUT, U.S, United States, East, Gaza City, Rafah, Jerusalem, Washington
HONG KONG, Dec 5 (Reuters Breakingviews) - Why would the world’s largest battery maker want to sell shares when it’s already flush with liquidity? It ended June with 102 billion yuan ($14 billion) in net cash, Moody’s calculates. CATL has just started production at a new facility in Germany and is building a plant in Hungary, its first forays West. The company’s long-term loans have increased more than tenfold to more than 70 billion yuan and its long-term bonds by around a third to nearly 20 billion yuan since 2020, per Visible Alpha. But as Zeng’s electric dreams accelerate, he’ll want to be sure CATL’s own batteries are fully charged.
Persons: it’s, CATL, Robin Zeng, Breakingviews, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Hong, Thailand’s, Ford Motor, Technology, Thomson Locations: HONG KONG, Switzerland, CATL, Hong Kong, Shenzhen, China, Europe, Germany, Hungary, Fitch, Indonesia, Swiss
DUBAI, Dec 5 (Reuters) - U.S. special climate envoy John Kerry on Tuesday launched an international engagement plan to boost nuclear fusion, saying the emissions-free technology could become a vital tool in the fight against climate change. Kerry said the plan involved 35 nations and would focus on research and development, supply chain issues, and regulation, and safety. "There is potential in fusion to revolutionize our world," Kerry told the COP28 climate summit in Dubai. U.S. Special Presidential Envoy for Climate John Kerry participates in an event on women's role in building a climate-resilient world, at COP28 World Climate Summit, in Dubai, United Arab Emirates, December 4, 2023. Of the two main types of fusion, one uses lasers to concentrate energy on a gold pellet containing hydrogen.
Persons: John Kerry, Kerry, Amr Alfiky, Valerie Volcovici, Richard Valdmanis, William James, Alexander Smith Organizations: Dubai . Fusion, United Arab Emirates, REUTERS, Thomson Locations: DUBAI, Dubai, U.S, United Arab, Britain, United States, Australia, China, Germany, Japan, California
So far, Woods' plans have turned investors demanding an energy transition strategy into believers - at least on climate. At the same time, the company plans to have a leading role in the vehicle electrification business. Reuters GraphicsMORE OIL VS GREEN AMBITIONExxon's ambitious agenda includes starting up the world's largest hydrogen power plant by 2027. RISKY BUSINESSThe $17 billion budget for low carbon technologies as the company's total revenue grows next year "will continue to rise", the CEO said. Spending in low carbon currently is constrained by scarcity of customers willing to sign up for contracts and insufficient regulations, Woods said.
Persons: Darren Woods, Carlos Barria, Woods, , Paul Sankey, Sankey, Chris James, Dan Ammann, Goldman Sachs, Neil Mehta, Ammann, Brian Weeks, Chris Bohn, Sabrina Valle, Richard Valdmanis, Gary McWilliams, Anna Driver Organizations: ExxonMobil, Economic Cooperation, REUTERS, Exxon Mobil, Natural Resources, Chevron, Reuters, Exxon, Sankey Research, Carbon Solutions, Thomson Locations: Asia, San Francisco , California, U.S, United States, Sankey, Americas, Brazil, Guyana, Texas, Gulf of Mexico, Houston, Dubai
HONG KONG, Dec 5 (Reuters) - Hong Kong pro-democracy activist Agnes Chow, who fled to Canada while free on bail, says she won't return home amid a crackdown that curbed her freedoms, defying a warning from Hong Kong's leader that she would be pursued for life. "In consideration of the political situation in Hong Kong and my personal health, my mental health, my physical health, and the high political risk of not being allowed to leave Hong Kong again, I've decided not to go back." The security law has drawn criticism from Western governments as a tool of repression, but China says it has restored stability after mass pro-democracy protests in 2019. "The national security police are not doing their job according to the legal system in Hong Kong," she told Reuters. Hong Kong leader John Lee on Tuesday described Chow as a "liar" and "devoid of integrity".
Persons: Agnes Chow, Hong, Chow, I've, Tyrone Siu, John Lee, Lee, Nathan Law, Anna Kwok, wasn't, James Pomfret, Gerry Doyle Organizations: REUTERS, Reuters, Hong Kong, HK, Thomson Locations: HONG KONG, Hong Kong, Canada, Toronto, China, Shenzhen, Japan, Hong
But the growing movement of Russian women underscores the complexity and innate inequality of keeping so many men at war for so long while many more of fighting age remain at home. It is too soon to assess the size or impact of the movement of Russian women in a society which the authorities say is united behind the war effort. Women in Ukraine have also demanded their men be allowed back from the front. When Putin ordered a partial mobilisation of 300,000 reservists in September 2022, hundreds of thousands of young men rushed to leave Russia. Petitions to bring their men back produced almost no response, and Russia's defence ministry has barely engaged with the women, Andreeva said.
Persons: Maria Andreeva, Yulia Morozova, Vladimir Putin, Andreeva, Putin, Dmitry Medvedev, Vitaly Milonov, Milonov, Guy Faulconbridge, Timothy Organizations: State Duma, REUTERS, Kremlin, Reuters, Russia's Security, New, Timothy Heritage, Thomson Locations: Russian, Ukraine, Moscow, Russia, MOSCOW, Soviet Union, Chechnya, Andreeva, Western
Charlie Scharf, CEO, Wells Fargo, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Dec 5 (Reuters) - Wells Fargo (WFC.N) CEO Charlie Scharf told investors on Tuesday he expects to book higher-than-anticipated severance expenses between $750 million to a little less than $1 billion in the fourth quarter. The bank has reduced its workforce since the third quarter of 2020 and it stood at 227,363 at the end of third quarter of this year. Wells Fargo set aside $359 million for potential credit losses on office real estate in the third quarter, bringing total allowances to $2.6 billion for the first nine months of 2023. Wells Fargo has reduced its origination in auto loans and has also been reducing the size of its mortgage servicing portfolio.
Persons: Charlie Scharf, Wells, Mike Blake, Scharf, Goldman Sachs, " Scharf, Wells Fargo, Nupur Anand, Lananh Nguyen, Chizu Organizations: Milken, Global Conference, REUTERS, San, . Financial Services Conference, U.S, Thomson Locations: Wells Fargo, Beverly Hills , California, U.S, San Francisco, Wells
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