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☆ Boeing says about 90% of its China 737 MAX fleet have resumed commercial operation
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 28 (Reuters) - About 90% of Boeing's (BA.N) China 737 MAX fleet have resumed commercial operation as of the end of June, the U.S. aircraft maker said on its official WeChat account on Wednesday. Some planes have been dispatched to regional international routes, Sherry Carbary, president of Boeing China, said in the article. China grounded its entire Boeing 737 MAX fleet after an air crash of one 737 MAX jet operated by Ethiopian Airlines in March 2019, the second deadly accident of the model in five months. State-owned China Southern Airlines (600029.SS) was the country's first carrier to resume the flying of the 737 MAX in January, after the plane was grounded for nearly four years. Chinese airlines then has been gradually reintroducing the model back to operation and in April Boeing estimated that half of the country's MAX fleet was in operation.

Persons: Sherry Carbary, Carbary, Louise Heavens Organizations: U.S, Boeing, MAX, Ethiopian Airlines, China Southern Airlines, Beijing, Thomson Locations: BEIJING, China, Boeing China, Central Asia, Southeast Asia

SummarySummary Companies Oil price structure implies demand bulls are retreating2-mth Brent spread in contango, implying oversupply concernECB poised for further rate hikesLONDON, June 27 (Reuters) - Oil prices slipped on Tuesday ahead of data shedding light on U.S. appetite for fuel during the summer driving season, with the Brent benchmark's price structure indicating bulls are retreating. U.S. inventory data from the American Petroleum Institute industry group is expected after 2000 GMT, followed by government data on Wednesday. For the two-month spread , the market is in shallow contango, the opposite price structure, indicating traders are factoring in a currently slightly oversupplied market. The oil market has shrugged off a clash between Moscow and Russian mercenary group Wagner which was averted on Saturday. Russian oil loadings have kept on schedule.

Persons: Brent, Craig Erlam, Christine Lagarde, Wagner, PVM's Tamas Varga, Saudi Arabia's, Premier Li Qiang, Trixie Yap, Jan Harvey, Louise Heavens Organizations: Brent, U.S, West Texas, Central Bank, American Petroleum Institute, Reuters, Saudi, Premier, Thomson Locations: contango, U.S, Moscow, Russian, China

LONDON, June 27 (Reuters) - Reckitt's (RKT.L) Lysol disinfectant brand said on Tuesday that it would start selling in the U.S. an "air sanitizing spray" that kills 99.9% of airborne viruses and bacteria. The spray, which Reckitt said helps reduce the spread of airborne pathogens such as cold, Influenza and Coronavirus, has been approved by the U.S. Environmental Protection Agency. During the COVID-19 pandemic, Reckitt, Clorox (CLX.N) and other disinfectant makers benefited from a boom in sales of surface cleaners and wipes. At the time, there were no products suited to sanitizing air, though some anxious consumers took to spraying surface cleaners into their surroundings. The formula contains active molecules that are hygroscopic in nature, which allows the molecules to attach to microorganisms suspended in the air.

Persons: Reckitt, We'd, Chris Jones, Richa Naidu, Louise Heavens Organizations: U.S . Environmental Protection Agency, Thomson Locations: U.S

☆ Gold prices steady on softer dollar, focus on economic cues
▼ + stars: | 2023-06-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,923.09 per ounce by 1200 GMT while U.S. gold futures edged down 0.1% to $1,932.90. The dollar index (.DXY) eased slightly, making dollar-priced bullion more attractive for overseas buyers. Meanwhile, Julius Baer analyst Carsten Menke said that high interest rates are offering other alternatives than gold to safe-haven seekers. Spot silver rose 0.5% to $22.88 an ounce and was on track for a third straight session of gains. Reporting by Arundhati Sarkar and Seher Dareen in Bengaluru Editing by Christina Fincher, David Goodman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Han Tan, Jerome Powell's, Julius Baer, Carsten Menke, Arundhati Sarkar, Seher, Christina Fincher, David Goodman, Louise Heavens Organizations: Federal, Fed, European Central Bank, Thomson Locations: U.S, United States, Sintra, Bengaluru

☆ Siemens Energy shares gain as Goldman dubs reaction to turbine problems 'excessive'
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

Companies Siemens Energy AG FollowFRANKFURT, June 27 (Reuters) - Shares in Siemens Energy (ENR1n.DE) recovered some losses on Tuesday after Goldman Sachs analysts kept a "buy" rating on the stock and said the massive sell-off following the disclosure of problems at its wind turbine division was overblown. They had fallen more than 37% on Friday after the company withdrew its 2023 profit outlook, citing failure rates at its newer onshore wind turbine models that will cost more than 1 billion euros ($1.1 billion) to fix. "We remain Buy-rated as we believe there has been an excessive negative market reaction over the past several days which leaves Siemens Energy shares deeply discounted," Goldman Sachs analysts wrote. Goldman Sachs said that they estimate 1.5 billion euros in costs related to the communicated problems, less than the 2 billion Jefferies estimate a day earlier. ($1 = 0.9146 euros)Reporting by Christoph Steitz, Editing by Friederike Heine and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Christoph Steitz, Friederike Heine, Louise Heavens Organizations: Siemens Energy, FRANKFURT, Jefferies, Thomson

If approved, a bitcoin ETF from the world's biggest asset manager could attract investors reluctant to buy the high-risk cryptocurrency directly. Digital asset manager Grayscale had its proposal for a spot bitcoin ETF rejected last year. LESS CAPITAL OVERALLAfter surprise rate hikes in Australia and Canada, and as the Federal Reserve forecasts two more hikes, investors are now betting that interest rates will remain higher for longer. Bitcoin had benefited from ultra-low interest rates, which incentivised investors to take riskier bets in search of returns. "Albeit - there are likely to be further challenges with interest rates continuing to increase," he said.

Persons: Mike Caldwell's, Jim Urquhart, Bitcoin, Charles Schwab, Youwei Yang, BTCM, Wes Hansen, Gordon Grant, Grant, Strijers, he'd, Riyad Carey, Genesis Trading's Gordon Grant, There's, bitcoin, Usman Ahmad, Elizabeth Howcroft, Tom Wilson, Louise Heavens Organizations: REUTERS, BlackRock, U.S . Securities, Exchange Commission, Citadel Securities, Fidelity Investments, Reuters Graphics, Silicon Valley Bank, SEC, Fidelity, Cboe, Kaiko, Federal Reserve, Blackrock, Zodia, Chartered, Technology, Thomson Locations: Sandy , Utah, Silicon, United States, Australia, Canada, Hong Kong

☆ Suncor Energy says it experienced a cybersecurity incident
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

Companies Suncor Energy Inc FollowJune 25 (Reuters) - Canadian energy firm Suncor (SU.TO) on Sunday said it experienced a cybersecurity incident, adding that some transactions with customers and suppliers could be impacted while they investigate and resolve the situation. "At this time, we are not aware of any evidence that customer, supplier or employee data has been compromised or misused as a result of this situation," the company said in a statement. Suncor's operations include oil sands development, production, offshore oil and gas, petroleum refining in Canada and the U.S, including the company's Petro Canada retail and wholesale distribution networks. The Canadian Centre for Cyber Security had earlier said it was aware of reports of an incident affecting Petro Canada but said it did not generally comment on "specific cybersecurity incidents." Reporting by Seher Dareen and Swati Verma in Bengaluru and Raphael Satter Editing by Christopher Cushing and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Seher Dareen, Swati Verma, Raphael Satter, Christopher Cushing, Louise Heavens Organizations: Suncor Energy, company's Petro Canada, Canadian Centre for Cyber Security, Petro Canada, Thomson Locations: Canada, Petro, Bengaluru

☆ Oil dips on demand worries as more rate hikes likely
▼ + stars: | 2023-06-23 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

More U.S. interest rate hikes also seemed likelier. San Francisco Federal Reserve Bank President Mary Daly said two more rate hikes this year was a "very reasonable" projection. The Bank of England rate rise triggered fund liquidation and energy producers were moving to a "hedge now" mentality, Kissler added. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. Risk-aversion among investors also boosted the value of the U.S. dollar, which pressures oil prices by making the commodity more expensive for other currency holders.

Persons: Brent, Mary Daly, Dennis Kissler, China's, Alex Lawler, Sudarshan, Philippa Fletcher, Kirsten Donovan, Louise Heavens, David Gregorio Our Organizations: Fed's Daly Bank of, HOUSTON, . West Texas, Bank of England, San Francisco Federal Reserve Bank, EU, BOK, The Bank of, U.S ., Thomson Locations: Norway, Switzerland, San, China, Saudi, OPEC

☆ EU's lending arm to explore climate emergency repayment pause clauses
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

"The EIB is exploring ways to scale up climate finance," it said in a statement on Friday at an international summit being held in Paris. EIB Global, the arm of the bank that lends outside the EU, invests around 10 billion euros ($10.87 billion) a year. It is estimated that roughly half of that money goes to countries that could be eligble for the new clauses. "We know that more climate disasters are coming," Maria Shaw-Barragan, a Director of Lending the bank told Reuters. "So it makes sense for the MDBs, and bilateral lenders, to include these clauses in order to give countries some breathing space."

Persons: Maria Shaw, Barragan, Marc Jones, Mark Heinrich, Louise Heavens Organizations: European Investment, LONDON, European Investment Bank, World Bank, EIB, Reuters, Thomson Locations: Paris

Siemens Energy CEO Christian Bruch said on Friday that the takeover of Siemens Gamesa had not been a mistake and that the price had seemed right at the time when the offer was made. 'SO MANY QUESTIONS'Top-20 investor Deka Investment said "significantly greater efforts" were now needed by Siemens Energy, chaired by Siemens veteran Joe Kaeser, to restore trust. Berenberg analysts pointed out that Siemens Energy had given a fairly upbeat view on Siemens Gamesa along with second-quarter results only a month ago, and that Thursday's announcement did not fit with the recent communication. Siemens Energy CEO Bruch also cited the need to fix Siemens Gamesa's corporate culture, hinting at the fact that the company's merger never fully worked and that major management mistakes were made. When asked earlier this month on whether Siemens Energy was doing well enough to master the challenges of the energy transition, Kaeser said the management team led by Bruch was strong.

Persons: Felix Schroeder, Schroeder, Christian Bruch, Siemens Gamesa, Jochen Eickholt, Spain's, Joe Kaeser, Bruch, Kaeser, Christoph Steitz, Christina Amann, Susan Fenton, Louise Heavens Organizations: Siemens Energy, Siemens, Siemens Gamesa, Union Investment, Deka Investment, Deutsche Bank, Thomson Locations: FRANKFURT, BERLIN, Bray, European

☆ Exclusive: Romania mulling measures to protect farmers at Constanta port, source says
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view of the cereal terminal with grain silo in the Black Sea port of Constanta, Romania, May 11, 2022. The harvest season begins around July, when Ukraine's Black Sea grain corridor could collapse, and it typically runs until October. At its peak, Constanta port handled roughly 25 million tones of grain exports a year. Agritel estimates its wheat harvest at 8.76 million tonnes, while grain trade association Coceral sees it at 9.57 million tonnes and Romanian consultancy AGRIColumn at 10.5 million tonnes. By comparison, Romanian consultancy AGRIColumn expects Romania will have up to 21 million tonnes of grains and oilseeds available to export in the 2023/2024 season.

Persons: Olimpiu Gheorghiu, Coceral, AGRIColumn, Luiza Ilie, Louise Heavens Organizations: REUTERS, Union, United, Reuters, European Union, EU, Thomson Locations: Black, Constanta, Romania, BUCHAREST, Ukraine, United Nations, Turkey, Brussels, Kyiv, Romanian

☆ Binance ordered to stop all digital currency services in Belgium
▼ + stars: | 2023-06-23 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +1 min

BRUSSELS, June 23 (Reuters) - Belgium's FSMA regulator on Friday ordered Binance to cease offering any virtual currency services in the country, adding to pressure on the world's biggest cryptocurrency exchange. "Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said. "The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium," it added in a statement. Earlier this month, Binance and Binance.US entered an agreement with the U.S. Securities and Exchange Commission to ensure U.S. customer assets remain in the United States until a sweeping lawsuit filed this month by the SEC is resolved. Reporting by Sudip Kar-Gupta; Editing by Louise Heavens and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance, Changpeng Zhao, Binance.US, Sudip Kar, Louise Heavens, Alexander Smith Organizations: European Economic, U.S . Securities, Exchange Commission, SEC, Thomson Locations: BRUSSELS, Shanghai, Belgium, United States, France

☆ Spain's watchdog lacks tools to prove collusion on deposits for savers, chair says
▼ + stars: | 2023-06-23 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

MADRID, June 23 (Reuters) - Spain's competition watchdog urged political parties to give this institution better tools to look into potential anticompetitive practices between banks when setting deposit rates for savers, its chair Cani Fernandez said on Friday. Spanish banks offer the lowest household deposit rates among the euro zone's large economies, igniting demands from the government, supervisors and clients to pass on higher interest rates for savers. "A tacit collusion is a hole in our system of tools to tackle (this issue) in markets with little competition," Fernandez said. She added that other European countries, such as Germany and the UK, had better tools to look into these commercial practices. On Friday, the Bank of Spain Governor Pablo Hernandez de Cos said it was up to the CNMC to look into that matter.

Persons: Cani Fernandez, Fernandez, smartly, Pablo Hernandez de Cos, Jesús Aguado, Emma Pinedo, Kirsten Donovan, Louise Heavens Organizations: Bank of Spain, Thomson Locations: MADRID, Spanish, Santander, Germany

☆ Oil holds steady ahead of Powell's congressional testimony
▼ + stars: | 2023-06-21 | by ( Rowena Edwards | ) www.reuters.com time to read: +2 min

LONDON, June 21 (Reuters) - Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell's congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week. The main market focus is on Fed officials due to speak later in the day, with Chair Powell's congressional testimony on the economy on Wednesday and Thursday the highlight. However, should Powell prompt a hawkish return of rate cut expectations, the U.S. dollar could see some support, ING strategist Francesco Pesole said in a note. A stronger U.S. dollar is bearish for oil as it makes commodities more expensive for holders of other currencies. Oil prices drew some support from a possible drawdown in U.S. crude stocks, with Reuters poll among five analysts estimating that crude stockpiles fell by about 400,000 barrels on average in the week to June 16.

Persons: Jerome, Brent, Craig Erlam, Powell, Francesco Pesole, Rowena Edwards, Katya Golubkova, Trixie Yap, Emelia Sithole, Louise Heavens Organizations: Federal, hawkish Bank of, . West Texas, Bank of England, U.S, ING, Reuters, American Petroleum Institute, Energy, Administration, Thomson Locations: bank's Washington, U.S, Tokyo, Singapore

☆ Pratt & Whitney sees supply chain progress
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 21 (Reuters) - Pratt & Whitney is seeing "solid progress" in the aerospace supply chain after bottlenecks caused by the pandemic, Shane Eddy, president of engine maker Pratt & Whitney, said at the Paris Airshow on Wednesday. The Raytheon Technologies (RTX.N) subsidiary, which has faced a backlash from airlines over durability problems and a shortage of spare engines, has the capacity in place to support maintenance demand but faces shortages of materials, he added. Reporting by Tim Hepher, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Whitney, Shane Eddy, Tim Hepher, Louise Heavens Organizations: Pratt, Paris, Raytheon Technologies, Thomson

☆ Panasonic, Mazda eye for long-term EV battery supply partnership
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: 1 min

TOKYO, June 21 (Reuters) - Japan's Panasonic Energy and Mazda Motor (7261.T) on Wednesday announced they will discuss a lithium-ion battery supply partnership for electric vehicles. Under the partnership, Panasonic Energy, a Panasonic Holdings Corp (6752.T) unit, would supply Mazda with automotive cylindrical lithium-ion batteries manufactured in Japan and North America for Mazda's battery EVs scheduled to be launched in the latter half of the 2020s, the companies said in a statement. Reporting by Kantaro Komiya, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Kantaro Komiya, Louise Heavens Organizations: Panasonic Energy, Mazda, Wednesday, Panasonic Holdings Corp, Thomson Locations: TOKYO, Japan, North America

☆ Vodafone hires Morgan Stanley to weigh options for its Spanish unit - Expansion
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: 1 min

MADRID, June 21 (Reuters) - Britain telecoms company Vodafone (VOD.L) has hired investment bank Morgan Stanley to evaluate the options for its Spanish unit, Spanish newspaper Expansion reported on Wednesday citing unidentified market sources. The company has started a strategic review on the future of its Spanish unit and its CEO Margherita Della Valle said last month the company's management is open to "structural change". A Vodafone spokesperson in Madrid declined to comment and Morgan Stanley did not immediately return a telephone call seeking comment. Reporting by Inti Landauro, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, Margherita Della Valle, Inti Landauro, Louise Heavens Organizations: Vodafone, Spanish, Thomson Locations: MADRID, Britain, Madrid

☆ Oil rises as Chinese economic indicators offer mixed picture
▼ + stars: | 2023-06-20 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

U.S. West Texas Intermediate (WTI) crude for July was down 3 cents from Friday's close at $71.75. The more active WTI crude contract for August delivery was up 10 cents from Friday at $72.03 per barrel. There was no settlement in the WTI contract on Monday due to a public holiday in the United States. "Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng, a markets analyst at CMC Markets in Auckland. Higher interest rates reduce appetite for spending and can drive down oil demand.

Persons: Brent, Tina Teng, Katya Golubkova, Andrew Hayley, Kim Coghill, Jason Neely, Louise Heavens Organizations: . West Texas, CMC Markets, China National Petroleum, Organization of, Petroleum, Thomson Locations: China, United States, Auckland, Russia, Moscow, Tokyo, Beijing

☆ Google seeks suppliers to move Pixel production to India - ET Now, citing agencies
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, June 20 (Reuters) - Google is looking at suppliers to move some of its production of its Pixel smartphone to India, television channel ET Now reported on Tuesday, citing agencies. Reporting by Tanvi Mehta, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Tanvi Mehta, Louise Heavens Organizations: Google, Thomson Locations: DELHI, India

☆ JPMorgan invests in financial technology provider Cleareye.ai
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 20(Reuters) - JPMorgan (JPM.N) has made a strategic investment in Cleareye.ai, a financial technology firm focused on trade finance, the companies said on Tuesday. The parties, which entered into a commercial partnership last September, did not provide the financial terms of the transaction. Trade finance refers to financial products offered by banks and other institutions that seek to facilitate global trade by reducing counterparty risk between importers and exporters. Cleareye.ai operates a platform that it claims can expedite trade finance processes and compliance by analysing documents and data and removing manual checks. JP Morgan's trade finance business receives nearly 4 million individual documents every year.

Persons: Cleareye.ai, Andres Gonzalez, Louise Heavens Organizations: JPMorgan, Trade, Cleareye.ai, Thomson Locations: Cleareye.ai, U.S

☆ Eve agrees on potential sale of up to 150 flying cars
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 20 (Reuters) - Electric aircraft maker Eve (EVEX.N), controlled by Brazil's Embraer (EMBR3.SA), said on Tuesday it has signed letters of intent for potential sales of its "flying car" to Voar Aviation, Nordic Aviation and Wideroe Zero. Under the new agreements, Eve said in a statement, Voar would operate its eVTOLs in Brazil's main metropolitan areas and popular tourist destinations, such as Sao Paulo, Florianopolis and Salvador. Wideroe Zero's parent Wideroe is already an Embraer customer for conventional jets, currently having three E190-E2 aircraft in its fleet. Its low-carbon unit envisions all domestic short-haul flights to be electric as part of Norway's goal of achieving carbon-neutral aviation by 2040. Reporting by Gabriel Araujo; Editing by Kirsten Donovan and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Eve, Norway's, Gabriel Araujo, Kirsten Donovan, Louise Heavens Organizations: SAO PAULO, Electric, Brazil's Embraer, EMBR3, Voar Aviation, Nordic Aviation, Wideroe, Nordic, Embraer, Thomson Locations: Brazil's, Sao Paulo, Florianopolis, Salvador, Scandinavia

☆ Carlos Ghosn sues Nissan for $1 bln in Lebanon, legal document shows
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

A spokesperson for Nissan said the company will not be commenting on the matter. Ghosn, once a titan of the global car industry, was arrested in Japan in late 2018 and charged with financial misconduct. He denied the charge and said his detention was part of a plot by Nissan executives to block a merger. He escaped Japan hidden in a box aboard a private jet in December 2019, fleeing to Lebanon, his childhood home. After arriving in Lebanon Ghosn said he was escaping a "rigged" justice system in Japan and that he intended to clear his name.

Persons: Carlos Ghosn, Ghosn, Lebanon Ghosn, Maya Gebeily, Laila Bassam, Tom Perry, Daniel Leussink, Tala Ramadan, Kirsten Donovan, Louise Heavens, David Goodman Organizations: Nissan Motor, Nissan, Reuters, Thomson Locations: BEIRUT, Japan, Lebanon, Beirut

☆ Oracle considers more investment in Israel - Netanyahu
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

JERUSALEM, June 20 (Reuters) - Oracle Corp (ORCL.N) CEO Safra Katz discussed a possible expansion of the company's investment activity in Israel during a meeting on Tuesday with Prime Minister Benjamin Netanyhu, his office said. Oracle provides products and services that address enterprise information technology (IT) environments. The statement from Netanyahu's office said he and Katz also discussed opportunities arising from artificial intelligence. Writing by Dan Williams, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Safra Katz, Benjamin Netanyhu, Katz, Dan Williams, Louise Heavens Organizations: Oracle Corp, Oracle, Thomson Locations: Israel

Gannett said this leaves Google with "exorbitant monopoly profits," and "dramatically less revenue" for publishers and its ad technology rivals. "Digital advertising is the lifeblood of the online economy," Gannett Chief Executive Mike Reed said in an opinion published in USA Today. Like many newspaper publishers, McLean, Virginia-based Gannett has struggled with falling ad revenue as more Americans, estimated at 86%, get news online. Gannett said digital advertising is a $200 billion business, up nearly eightfold since 2009, but newspaper ad revenue fell nearly 70% over that time. The case is Gannett Co v Google LLC et al, U.S. District Court, Southern District of New York, No.

Persons: Gannett, Mike Reed, Jonathan Stempel, Louise Heavens, Jonathan Oatis, Richard Chang Organizations: YORK, Gannett, U.S ., USA, Google, Alphabet Inc, European Union, U.S . Department of Justice, Gannett Co, Court, Southern District of, Thomson Locations: Manhattan, USA, View , California, U.S, Texas, McLean , Virginia, Southern District, Southern District of New York, New York

[1/2] A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. ADNOC and Covestro declined to comment. The OMV deal would indirectly also increase ADNOC's holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD). SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S). Thanks to a 2007 deal to buy GE's plastics unit, SABIC competes with Covestro in polycarbonate plastics.

Persons: Christopher Pike, Abu Dhabi's, ADNOC, Sultan, Jaber, Lanxess, SABIC, Ludwig Burger, Patricia Weiss, Christoph Steitz, Hadeel Al, Greg Roumeliotis, Louise Heavens, Sharon Singleton, Elisa Martinuzzi, Alexandra Hudson Organizations: United, United Arab Emirates, REUTERS, Abu Dhabi National Oil Company, Covestro, Alexandra Hudson Our, Thomson Locations: Abu Dhabi, United Arab, Covestro, Europe, Saudi Aramco, Saudi Arabia, Swiss, Frankfurt, Hadeel Al Sayegh, Dubai

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