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☆ Musk says Tesla likely to launch full self-drive technology 'this year'
▼ + stars: | 2023-04-20 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +2 min

[1/2] Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan ErnstSAN FRANCISCO, April 19 (Reuters) - Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla (TSLA.O) likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it's facing due to aggressive price cuts. "I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call. Tesla sells FSD software as an option for as much as $15,000. Tesla reported a lower-than-expected quarterly margin on Wednesday but Musk said he would prioritize sales growth over profits in a weak economy.

☆ Software firm F5 to lay off 9% staff, trims fiscal revenue guidance
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Cloud and security services firm F5 Inc (FFIV.O) said on Wednesday it was reducing its workforce by 9% and cutting bonuses of senior executives to bring down costs. The technology industry has seen a wave of layoffs over the past few months as it grapples with slowing growth following a pandemic-led boom in digital services. F5's downsizing plan, which will affect 623 employees due to job cuts, also includes cutting back spending on office space and executive travel. The Seattle, Washington-based company also lowered its fiscal 2023 revenue growth forecast to "low-to-mid single-digit" from an earlier forecast of 9% to 11% growth, sending its shares down 5% in after-market trading. (This story has been refiled to fix syntax in the headline)Reporting by Yuvraj Malik in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

☆ Mexican president likens top judges to disgraced ex-official after military setback
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

The Supreme Court on Tuesday ruled legislation promoted by President Andres Manuel Lopez Obrador mandating that the Army assume control of the National Guard was unconstitutional. Two of four justices nominated by the president voted against his plan. Eight of 11 justices voted it down in total. Lopez Obrador, who has suffered a number of setbacks at the hands of the court, will leave office at the end of September 2024 following general elections in June 2024. The next Congress will begin on Sept. 1, 2024, the day Lopez Obrador said he would present his initiative to reform the constitution to enshrine military control of the National Guard.

☆ Moldova summons Russian envoy to expel member of embassy staff
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

CHISINAU, April 19 (Reuters) - Moldova summoned the Russian ambassador on Wednesday to declare a member of the Russian embassy staff persona non grata, a government spokesperson said. Government press secretary Daniel Voda told reporters the decision was connected to the actions of embassy staff towards Moldovan border guards who denied entry to a regional Russian politician at Chisinau airport this week. The embassy staffer was not named. (This story has been refiled to fix the spokesperson's surname)Reporting by Alexander Tanas, writing by Max Hunder, Editing by Timothy HeritageOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, April 19 (Reuters) - A former Venezuelan treasurer, who also served as an aide to late President Hugo Chavez and was convicted in the U.S. of money laundering, was sentenced to 15 years in prison, the U.S. Justice Department said on Wednesday. A Florida jury in December convicted Diaz, as well as her husband Adrian Velasquez, on two counts of money laundering and one count of conspiracy to commit money laundering in association with a corruption scheme in Venezuela. U.S. District Court Judge William Dimitroulea in Florida sentenced Diaz and her husband, who also received 15 years, on Wednesday, the Justice Department said. Diaz, Velasquez and Gorrin purchased and paid expenses related to private jets, yachts, mansions, champion horses and a designer fashion line in South Florida, prosecutors said. (This story has been refiled to remove an extraneous word in paragraph 4)Reporting by Kanishka Singh in Washington; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Johnson & Johnson (JNJ) earnings Q1 2023
▼ + stars: | 2023-04-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Johnson & Johnson shares fell Tuesday after the company reported adjusted earnings and revenue that topped Wall Street's expectations, but lowered its sales guidance for its pharmaceutical business. J&J is now forecasting 2023 sales of $97.9 billion to $98.9 billion, about $1 billion higher than the guidance provided in January. Lawsuits allege the company's talc products were contaminated with the carcinogen asbestos, which caused ovarian cancer in thousands of individuals. Some suits link several deaths to J&J's talc products. Read the full J&J earnings report.

☆ Pope Francis calls 'insinuations' against John Paul II unfounded
▼ + stars: | 2023-04-16 | by ( Philip Pullella | ) www.reuters.com time to read: +4 min

REUTERS/Remo Casilli/File PhotoVATICAN CITY, April 16 (Reuters) - Pope Francis on Sunday rejected as offensive and unfounded what he called insinuations by the brother of a Vatican schoolgirl who went missing 40 years ago about one of his predecessors as pontiff, Saint John Paul II. The voice of the alleged gangster says that more than 40 year ago, girls were brought into the Vatican to be molested and that Pope John Paul knew about it. Sgro told Reuters on Sunday that John Paul did not come up in her conversation with Diddi, adding in a text message: "I have never questioned the sanctity of John Paul II". Orlandi told Reuters on Sunday by telephone that it was "correct that Francis defended John Paul II". (This story has been refiled to make clear John Paul II was not Pope Francis' immediate predecessor, in paragraph 1)Reporting by Philip Pullella; editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ European banks surge on strong Q1 results from U.S. peers
▼ + stars: | 2023-04-14 | by ( Joice Alves | ) www.reuters.com time to read: +1 min

[1/3] The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves HermanLONDON, April 14 (Reuters) - European banks surged on Friday, rising to a one-month high, gaining support from U.S. lenders, which reported better-than-expected results in the first quarter. The STOXX 600 index of European banks (.SX7P) gained as much as 3% to reach its highest since mid-March after JPMorgan (JPM.N), Citigroup (C.N) and Wells Fargo WFC.N beat estimates. Banks largely outperformed the broader market, with the STOXX 600 (.STOXX) index climbing 0.6% as risk assets gained support from expectations the U.S. Federal Reserve may soon finish raising interest rates. In London, Standard Chartered (STAN.L) shares rose 4.3% to three-week highs, Barclays (BARC.L) shares were up 3%, touching a five-week high, while HSBC (HSBA.L) shares up 3.1% to one month highs.

Last year, all of the record 15 shareholder proposals were rejected by investors' votes. Shareholder proposals across industries have increased since 2020, but support for them fell from 2021 to 2022, according to a PWC report. The report would detail the "impact of (Amazon's) policies, management, performance metrics, and targets," Tulipshare's proposal said. Tulipshare, which owns 13 shares or about $7,000 in Amazon stock, secured 44% of investors' votes in 2022. Amazon is recommending that shareholders reject Tulipshare's proposal, saying the company continually works to improve "safety processes, programs, and technology."

Companies Amazon.com Inc FollowNEW YORK, April 13 (Reuters) - E-retail giant Amazon (AMZN.O) is facing 18 shareholder proposals, beating its 2022 record of 15 proposals, as environmental, social and governance (ESG)-focused investors push for more changes in the company, according to Amazons' proxy statement released on Thursday. The number of shareholder proposals across industries has grown since 2020. Last year, all of the record 15 shareholder proposals were rejected by investors’ votes. Although Amazon has a record number of proposals on the ballot this year, this is not the most proposals that have been submitted by shareholders to the company. Amazon can challenge submissions with the Securities Exchange Commission or negotiate with investors to provide audits and reports outside of the annual shareholder meeting.

☆ Amazon shareholders introduce record number of proposals for second-consecutive year
▼ + stars: | 2023-04-13 | by ( Arriana Mclymore | Thomson Reuters | Arriana Mclymore Is A New York-Based Reporter Covering E-Commerce | ) www.reuters.com time to read: +2 min

Tulipshare secured 44% of investors’ votes in 2022. Amazon's board has recommended shareholders vote against each of the 18 proposals. Last year, all of the record 15 shareholder proposals were rejected by investors’ votes. Amazon did not immediately respond to requests for comment on the increase in shareholder proposals. The proposals will be voted on during Amazon's annual meeting on May 24.

☆ Ferrovial shareholders vote on Dutch move in possible prelude to U.S. listing
▼ + stars: | 2023-04-13 | by ( Corina Pons | ) www.reuters.com time to read: +3 min

MADRID, April 13 (Reuters) - Ferrovial (FER.MC) shareholders vote on Thursday on a plan to move the Spanish construction group's holding company to the Netherlands, paving the way to a listing in the U.S. and potentially access to subsidies available there. The government fears more companies could follow suit and argues that a full U.S. listing is perfectly possible for a Spain-based company, although there are no such precedents. The move must be approved by a majority of shareholders to go ahead in a meeting that starts at midday (1000 GMT). Several investment funds have said they will vote in favour and two independent proxy advisers recommended backing the move. Ferrovial also wants to approach institutional funds in the U.S. willing to buy stakes if it gets a listing there.

☆ ASEAN "strongly condemns" deadly air strike in Myanmar
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, April 13 (Reuters) - The chair of the Association of Southeast Asian Nations (ASEAN) said on Thursday the bloc "strongly condemns" a military air strike this week on a village in Myanmar, which is reported to have killed up to 100 people including civilians. Tuesday's attack in the Sagaing area was the deadliest in a recent string of military air attacks, with children reported to be among the dead, and has drawn global condemnation. "All forms of violence must end immediately, particularly the use of force against civilians," chair Indonesia said in a statement. "This would be the only way to create a conducive environment for an inclusive national dialogue to find a sustainable peaceful solution in Myanmar," it said. A junta spokesperson said Tuesday's attack targeted a ceremony held by the NUG for their armed People's Defence Force, adding the attack aimed to restore peace and stability in the region.

MEMPHIS, Tennessee, April 12 (Reuters) - Local government officials in Memphis, Tennessee, voted on Wednesday to return the second of two Democratic state lawmakers who were expelled last week for protesting gun violence on the chamber floor. Seven of the board's 13 councilors were present for the meeting, and all seven voted in favor of Pearson's return. He is expected to return to the State Capitol in Nashville on Thursday to be sworn back in. Democrats in the U.S. Senate have asked the U.S. Department of Justice to investigate whether the expelled lawmakers' constitutional rights were violated. Before marching with supporters to the commissioners' meeting, Pearson, joined by Jones and Johnson, addressed a crowd of about 500 outside the National Civil Rights Museum in Memphis.

[1/2] White House National Security Advisor Jake Sullivan speaks during a daily press briefing at the White House in Washington, D.C., U.S., November 10, 2022. REUTERS/Tom BrennerWASHINGTON, April 11 (Reuters) - U.S. national security adviser Jake Sullivan spoke with Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday and discussed Iran and steps aimed at ending the war in Yemen, the White House said. The foreign ministers of Iran and Saudi Arabia met in Beijing last week after agreeing to end their diplomatic rift following years of hostility that fuelled conflicts across the Middle East. Mr. Sullivan reaffirmed President (Joe) Biden’s unwavering commitment to ensure Iran can never acquire a nuclear weapon," the White House said in a statement late on Tuesday. Yemen's war is seen as one of several proxy battles between Iran and Saudi Arabia.

☆ Analysis: Debt crunch looms for weaker economies with a wall of bond maturities ahead
▼ + stars: | 2023-04-10 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +5 min

"A more prolonged period without market access would be of more concern for the lower-rated tiers of the emerging markets sovereign universe," said James Wilson, EM sovereign strategist for ING. Tapping international debt markets hasn't been a problem across the board for emerging economies. The JPMorgan's emerging markets bond index (EMBI) for high yield debt is at 900 basis points over U.S. Treasuries, and has largely remained over 800 bps since the beginning of last year. The Russia conflict and then the Fed hiking cycle led to higher spreads for a much longer period," said Gregory Smith, emerging markets fund manager at London-based M&G Investment. A weaker U.S. dollar should help countries to tap international markets in the medium term, but recent data fueled jitters that restrictive central bank policies could push the global economy into recession.

REUTERS/Karen Pulfer FochtApril 9 (Reuters) - Two Tennessee Democrats who were expelled from the Republican-dominated state House of Representatives last week over their participation in a gun control protest said on Sunday that they hoped to soon reclaim their seats. Metro Council Member Kevin Rhoten said on Twitter that he had been bombarded with emails since Thursday asking him to vote to appoint Justin Jones for the District 52 seat, and that he planned to do that. "I would be honored to accept the appointment of the Shelby County Commission and to run in a special election," Pearson told NBC on Sunday. Videos posted to Twitter showed the two Black lawmakers, Representatives Jones and Pearson, shouting through a bullhorn on the House floor, saying "No action, no peace!" Only two other Tennessee state representatives have been expelled by their colleagues since the Civil War era: one in 1980 for soliciting a bribe in exchange for blocking legislation and another in 2016 after being accused of sexual misconduct by numerous women.

Pool via REUTERSApril 8 (Reuters) - The federal judge who on Friday suspended approval of the abortion pill mifepristone is a former Christian legal activist whose small courthouse in Amarillo, Texas, has become a go-to destination for conservatives challenging Biden administration policies. U.S. District Judge Matthew Kacsmaryk, an appointee of former Republican President Donald Trump, had a long track record of opposing abortion and LGBTQ rights before the U.S. Senate confirmed him in 2019 to a life-tenured position as a federal judge. When anti-abortion groups in November filed a lawsuit challenging the U.S. Food and Drug Administration's more than two-decade old approval of the abortion pill mifepristone, they filed in Amarillo, guaranteeing the case would be heard by Kacsmaryk. FAVORED VENUESince then, his courthouse has become a favored venue for conservative legal activists and Republican state attorneys general pursuing lawsuits seeking to halt aspects of Democratic President Joe Biden's agenda - often with success. While the district's chief judge could order cases be reallocated, he has not.

☆ Tesla cuts prices in US to spur demand
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - Tesla Inc (TSLA.O) has slashed prices of its electric vehicles in the United States, its website showed on Thursday, doubling down on a discount drive against the backdrop of a weakening economy. The cuts ranged from 1.9% on the performance version of the Model 3 to 5.6% on the basic version of the Model S. Tesla did not immediately respond to a request for comment on the reductions. The move follows repeated comments in recent months by Chief Executive Elon Musk that Tesla would focus on lowering prices to spur demand and had seen success in sparking orders with global discounts introduced in January. Prices of both the performance and basic variants of Model 3 cars were cut by $1,000, the website showed. The price of the basic version of the Model 3 was cut by 2.3% to $41,990 while its performance version was cut by 1.9% to $52,990.

☆ Some people living near Colombian volcano are loath to evacuate
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

[1/4] The Arenas crater is seen after the authorities declared an orange alert at the Nevado del Ruiz volcano and asked the population for a preventive evacuation in Herveo, Colombia April 5, 2023. REUTERS/Andres Camilo ValenciaBOGOTA, April 6 (Reuters) - Colombia's government is trying to speed up the evacuation of some 2,500 families living closest to the Nevado del Ruiz volcano, which is being monitored for a possible eruption, but some residents are refusing to leave. The volcano's eruption in 1985 killed more than 25,000 people in Colombia's biggest-ever natural disaster, with avalanches of earth and rock fragments burying entire settlements. "It doesn't scare me because it already exploded," said Evelio Ortiz, a potato farmer who survived the 1985 eruption with his wife and five children. The Nevado del Ruiz is a stratovolcano or composite volcano.

☆ Johnson & Johnson Seeks $9 Billion Settlement of Talc Lawsuits
▼ + stars: | 2023-04-05 | by ( Peter Loftus | Andrew Scurria | ) www.wsj.com time to read: 1 min

Johnson & Johnson has proposed paying at least $8.9 billion to thousands of people who sued the company alleging that their use of J&J’s talc-containing powders caused cancer, in what would be one of the biggest product-liability settlements ever. The company also said Tuesday its LTL Management LLC unit, which J&J had established to deal with the litigation, has refiled for bankruptcy protection to seek approval of the plan to make the payments over 25 years.

☆ Volvo Car's sales up 8% in March
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, April 5 (Reuters) - Sweden-based Volvo Car AB (VOLCARb.ST) said on Wednesday its sales increased by 8% year-on-year in March to 63,132 cars, helped mainly by the company's fully electric cars. Volvo Car, majority-owned by China's Geely Holding (0175.HK), said in a statement its fully electric models made up 41% of all its cars sold globally in the first three months of this year. In Europe, Volvo Car's fully electric models made up 62% of overall sales in the first three months of 2023. In February, the group's total car sales were up 22%, helped by a 187% month-on-month jump for its recharge models, with fully electric cars accounting for 19% of total sales. (This story has been refiled to say Volvo Car instead of Volvo Cars in paragraph 2)Reporting by Louise Breusch Rasmussen, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.

☆ New Zealand central bank unexpectedly hikes rates 50 basis points, kiwi rallies
▼ + stars: | 2023-04-05 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

Twenty-two of 24 economists in a Reuters poll had forecast the Reserve Bank of New Zealand (RBNZ) would raise rates by just 25 basis points. This is the eleventh straight hike since the central bank started raising rates in October 2021. It now expects the cash rate to peak at 5.5%. The RBNZ's move was in contrast to Australia's central bank, which kept rates on hold at its review on Tuesday. The central bank noted that while the level of economic activity over the fourth quarter was lower than anticipated and there were emerging signs of capacity pressures easing, demand continues to significantly outpace supply capacity.

☆ Dollar struggles on weak data; Kiwi surges on RBNZ surprise
▼ + stars: | 2023-04-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The kiwi rallied 1% to touch a two-month high of $0.6383 after the decision. Elsewhere, data overnight showed U.S. job openings dropped to their lowest level in nearly two years in February, suggesting that labour market conditions were finally easing. The dollar index , which measures the currency against six peers, eased to a fresh two-month low of 101.43, after dropping 0.5% overnight. In the U.S. bond market, the two-year Treasury yield, which typically moves in step with interest rate expectations, was up 2.6 basis points at 3.860%, after sliding 14 basis points on Tuesday. The yield on 10-year Treasury notes was up 1.8 basis points to 3.355%, having slipped 9 basis points overnight.

☆ Two reasons why settling JNJ's baby powder litigation is great for shareholders
▼ + stars: | 2023-04-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

A resolution to Johnson & Johnson's outstanding talc litigation claims may finally be here — and that's welcome news for the company and its shareholders. Johnson & Johnson (JNJ) said it will pay $8.9 billion over the next 25 years to resolve all current and future talc claims. But now that J & J has created a path toward resolving its talc litigation at a steep but very manageable cost of $8.9 billion, the overhang pressure should ease. With the J & J talc litigation overhang nearing an end, the stock deserves to trade back to this level at a minimum. In this photo illustration a bottle of Johnson & Johnson baby powder is displayed on a table on November 12, 2021 in San Anselmo, California.

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