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☆ Italy probes Meta over abuse of position in music rights case
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

MILAN, April 5 (Reuters) - Italy's antitrust authority said on Wednesday it would investigate Meta Platform (META.O) over the possible abuse of its position in talks over the rights to music posted on Meta's platforms and potentially hurting competition in the sector. According to the antitrust regulator, Mark Zuckerberg's company may have "unduly interrupted the negotiations for the stipulation of the licence for the use on its platforms" of SIAE's music rights, it said in a statement. Last month, Meta, which owns Facebook, Whatsapp and Instagram, failed to reach a deal with SIAE to renew the copyright license. Protecting the copyrights of songwriters and artists is an important priority for us," a spokesperson for Meta said on Wednesday. The investigation involves Meta Platforms Inc, Meta Platforms Ireland Limited, Meta Platforms Technologies UK Limited and Facebook Italy S.r.l.

☆ EU's new crypto asset rules don't go far enough - ECB's McCaul
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, April 5 (Reuters) - The European Union's proposed regulations for crypto assets do not go far enough, and safeguards need to be strengthened to capture risks adequately, European Central Bank supervisory board member Elizabeth McCaul said on Wednesday. The European Parliament is set to vote on the Markets in Crypto-assets (MiCA) bill later this month, taking a big step in providing oversight of the crypto world after a series of scandals and collapses. "While the new Basel standard and MiCA are important milestones, I am afraid they will not be sufficient on their own," McCaul said in a blog post. Another issues is how the size of crypto-asset service providers is measured because the now-collapsed crypto exchange FTX would not have counted as significant given how the firm was organised. The same goes for conflicts of interest, which must be identified across the group and at affiliated entities, McCaul said.

☆ U.S. warns 143,000 VW SUVs owners to keep front passenger seats empty pending fix
▼ + stars: | 2023-04-04 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The recall covers 2018-2021 model year Atlas and 2020 model year Atlas Cross Sport vehicles, and relates to potential faulty occupant-detection systems in front passenger seats. The passenger occupant-detection system may experience a fault in the wiring, which could deactivate the front passenger air bag even when the seat is occupied. A deactivated air bag will not deploy in the event of a crash, increasing the risk of injury to the front seat passenger, NHTSA said. In February, the auto safety agency requested a meeting to discuss the field performance of the Atlas Passenger Occupant Protection System, VW said. The automaker held a meeting with NHTSA on March 23 to discuss its recall decision.

LONDON, April 4 (Reuters) - Calls to pause the development of artificial intelligence will not “solve the challenges” ahead, Microsoft co-founder Bill Gates told Reuters, his first public comments since an open letter sparked a debate about the future of the technology. The technologist-turned-philanthropist said it would be better to focus on how best to use the developments in AI, as it was hard to understand how a pause could work globally. “I don’t think asking one particular group to pause solves the challenges,” Gates said on Monday. While currently focused full-time on the philanthropic Bill and Melinda Gates Foundation, Gates has been a bullish supporter of AI and described it as revolutionary as the Internet or mobile phones. He also said in the interview the details of any pause would be complicated to enforce.

☆ China dissatisfied with Japan's chip export restrictions -spokesperson
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 3 (Reuters) - China was strongly dissatisfied with Japan's export restrictions on chip manufacturing equipment, Chinese foreign ministry spokesperson Mao Ning said on Monday. China hoped Japan would act on its statements of cooperation with China and take an objective stance, Mao told reporters at a regular briefing. Japan said on Friday it would restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. read moreReporting by Beijing newsroom Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

LONDON, April 3 (Reuters) - The British government has extended a trading plan to help cut the taxpayer's stake in NatWest (NWG.L) by another two years, as it chips away at its remaining 41.5% holding with small sales after a recent bout of global banking volatility. The trading plan involves drip-feeding further stock into the market and is one of the government's main methods of reducing its stake. Britain's finance ministry said on Monday its trading plan had been extended to Aug. 11, 2025 and would continue to be run by investment bank Morgan Stanley (MS.N). Under the plan, the government can sell up to 15% of its stake in the company over the two-year period. Around 3.7 billion pounds has been raised by selling shares under the plan to date, the finance ministry added.

☆ Chinese spy balloon gathered intelligence on US military sites- NBC News
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

April 3 (Reuters) - A Chinese balloon that flew across the United States was able to gather intelligence from several U.S. military sites, despite the Biden administration's efforts to prevent it from doing so, NBC News reported on Monday, citing two current senior U.S. officials and one former senior administration official. The balloon, controlled by Beijing, was able to make multiple passes over some of the sites in February, at times flying in a figure-eight formation, NBC cited the officials as saying. "The intelligence China collected was mostly from electronic signals, which can be picked up from weapons systems or include communications from base personnel, rather than images," NBC cited the officials as saying. The balloon, which Beijing denies was a government spy vessel, spent a week flying over the United States and Canada early in February before being shot down off the Atlantic Coast on President Joe Biden's orders. The Chinese balloon incident prompted U.S. Secretary of State Antony Blinken to postpone a planned visit to Beijing and further strained relations between Washington and Beijing.

☆ Britain sets out next steps to green its financial system
▼ + stars: | 2023-03-30 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

Asset managers oversee assets worth 10 trillion pounds ($12.35 trillion), with nearly half having integrated ESG into the investment process, the paper said. "This will support the quality of standards, labels and disclosures used in the industry for green finance activity," the ministry said in a statement. "The government proposes that nuclear - as a key technology within our pathways to reach net zero - will be included within the UK’s Green Taxonomy, subject to consultation." In the fourth quarter, Britain will also consult on requirements for the largest companies to disclose their transition plans to net zero carbon emissions, if they have one, the ministry said. Brendan Curry, policy fellow at the Grantham Research Institute on Climate Change, said the updated strategy has "failed to deliver" a clear roadmap for the annual investment needed for net zero.

☆ China willing to work with Russian military on several fronts - Chinese defence ministry
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: 1 min

BEIJING, March 30 (Reuters) - China said its military was willing to work together with the Russian military to strengthen strategic communication and coordination, the Chinese defence ministry said on Thursday. The two countries would work together to implement global security initiatives, said Tan Kefei, a spokesman at the Chinese defence ministry, at a regular press conference. Tan said the two countries would deepen military trust and jointly safeguard international fairness and justice. They will also further organise joint maritime, air patrols and joint exercises, Tan said. China President Xi Jinping recently visited Russia and met with President Vladimir Putin - a visit the United States denounced.

☆ German inflation eases less than expected in March
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

German consumer prices, harmonised to compare with other European Union countries, rose by a more-than-anticipated 7.8% on the year in March, preliminary data from the federal statistics office showed on Thursday. Analysts had expected harmonised data to increase by 0.8% on the previous month and grow by 7.5% on an annual basis. According to non-harmonised standards, German consumer prices rose 7.4% on the year in March and 0.8% on the month. This follows an inflation rate of 8.7% in February and January. The decline in the inflation rate was entirely driven by a slowdown in energy prices, which rose only 3.5% compared with March 2022, when energy prices soared following Russia's invasion of Ukraine.

Summary Pontiff was hospitalised unexpectedly on WednesdayVatican says he has respiratory infectionNot clear if pope will be able to lead Easter servicesVATICAN CITY, March 30 (Reuters) - Pope Francis spent a peaceful night in a Rome hospital after suffering from a respiratory infection, a Vatican source said on Thursday. Bruni has said Francis would have to stay at Rome's Gemelli hospital for "a few days" for "appropriate" medical treatment. An official update on his condition was expected in late morning, the Vatican source said. Last year, the pope attended but did not preside at some of the Easter services due to his knee pain. Francis, who this month marked 10 years as pope, is sometimes short of breath and generally more exposed to respiratory problems.

☆ Taiwan, China must do 'everything possible' to avoid war- former president Ma
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +3 min

[1/3] Former Taiwanese president Ma Ying-jeou meets the head of China's Taiwan Affairs Office of the State Council Song Tao, in Wuhan, Hubei province, China in handout picture released March 30, 2023. Ma Ying-jeou's Office/Handout via REUTERSTAIPEI, March 30 (Reuters) - Taiwan and China must do everything possible to avoid war and it is the responsibility of both sides' leaders to ensure peace, former Taiwan President Ma Ying-jeou told a senior Chinese official on Thursday. Ma arrived in China on Monday, the first time a former or sitting Taiwanese president has visited the country since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war to Mao Zedong's communists. "The two sides must maintain exchanges, cooperate together, and do everything possible to avoid war and conflict." Ma, who was in office from 2008-2016, met Chinese President Xi Jinping in Singapore in late in 2015 shortly before current Taiwan President Tsai Ing-wen was elected.

REUTERS/Florence Lo/File PhotoSummarySummary Companies Five big lenders post over 3.5% annual net profit growthNet interest margin shrank at all fiveNPL ratios steady or down for all fiveBEIJING, March 30 (Reuters) - China's Big Five lenders posted above 3.5% annual net profit growth this week, but warned that the foundations of the country's recovery were "not yet solid". China's Bank of Communications Co Ltd (BoCom) (601328.SS), and Bank of China (BoC) (601988.SS) both posted just over 5% annual net profit growth on Thursday. Even higher figures came from the Agricultural Bank of China Ltd (601288.SS) (AgBank) on Thursday and China Construction Bank Corp on Wednesday, which both posted over 7% annual net profit growth. Industrial and Commercial Bank of China (ICBC) (601398.SS), , the world's largest listed lender by assets, came in at 3.5% annual net profit growth. NPLsWhile all five lenders posted steady or falling non-performing loan ratios, they also logged shrinking net interest margins (NIM), a key gauge of bank profitability.

☆ Prince Harry back in UK court for battle with Daily Mail publisher
▼ + stars: | 2023-03-30 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

LONDON, March 30 (Reuters) - Britain's Prince Harry returned to the High Court in London on Thursday where his lawyer was fighting an attempt by a newspaper publisher to throw out his and other high-profile figures' lawsuit which alleged widespread unlawful acts by journalists. Harry, the singer Elton John and five other high-profile people are suing publisher Associated Newspapers, alleging they were the victims of phone-hacking and other serious privacy breaches by journalists from the Daily Mail and Mail on Sunday or private investigators working on their behalf. The publisher's lawyer Adrian Beltrami told the court on Wednesday the claims were rejected "in their entirety". The judge, Matthew Nicklin, is not expected to rule for some weeks on whether the case should proceed to trial. During an exchange with Sherborne, he suggested that if it did, it would be a "massive trial" which would last a "substantial period of time".

☆ Corporate giants say anti-LGBT law would hurt Uganda's economy
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

NAIROBI, March 29 (Reuters) - A coalition of international companies, including Google (GOOGL.O) and Microsoft (MSFT.O), on Wednesday denounced anti-LGBTQ legislation passed by Uganda's parliament last week, warning it would damage the East Africa country's economy. The Open for Business coalition said the legislation, which criminalises identifying as lesbian, gay, bisexual, transgender or queer, would curb investment flows and deter tourists. Open for Business said in a statement the new law would undermine companies' ability to recruit a diverse and talented workforce. "Either they violate the law in Uganda or they are going against international standards of corporate responsibility as well as human rights laws of the countries in which they are headquartered," she said. Among the coalition's members, Google, Mastercard (MA.N) Unilever (ULVR.L), Standard Chartered (STAN.L), PwC and Deloitte (DLTE.UL) have operations in Uganda.

☆ Syria's president appoints new oil minister in reshuffle
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

DAMASCUS, March 29 (Reuters) - Syrian President Bashar al-Assad has appointed a new oil minister and changed four other ministers in a cabinet reshuffle, state media said on Wednesday. Hassan Kaddour, who was the general director of the Syrian Petroleum Company for the last two years, replaces Bassam Touma as oil minister, the report said. Assad named Mohsen Abdelkarim Ali as internal trade minister, Abdelqader Jokhdar as industry minister, Louay al-Munajjed as social affairs minister and Ahmed Bostachi as a state minister. Assad switched out his defence minister in April 2022. The conflict raging in Syria since 2011 has cost the country much of its domestic oil production, especially with the northeastern oil producing fields outside government control.

☆ Daily Mail publisher urges UK court to reject lawsuit by Harry, Elton John
▼ + stars: | 2023-03-29 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

Harry, the singer Elton John and five other high-profile people are suing publisher Associated Newspapers, alleging they were the victims of "numerous unlawful acts" carried out by the Daily Mail and Mail on Sunday journalists or private investigators working on the titles' behalf. "The claims are rejected by the defendant in their entirety," Beltrami told the court, which began the four-day preliminary hearing on Monday. Harry has said he felt like he was under 24-hour surveillance, and feared an ex-girlfriend would be "harassed to death". Elton John said the Mail had sought medical records around the birth of his son. In his argument, Associated's Beltrami said those involved could have discovered their claims years earlier, adding they were now "far too late".

☆ Germany unveils immigration reform plan to tackle labour shortages
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +3 min

BERLIN, March 29 (Reuters) - Germany on Wednesday unveiled draft reforms on immigration, skills training and promoting immigration from Western Balkan countries, a bid by Chancellor Olaf Scholz's government to plug labour shortages in Europe's largest economy. "Securing our skilled labour base is one of Germany's biggest economic tasks for the coming decades," Labour Minister Hubertus Heil said. One of the reforms is a new immigration law that aims to address key hurdles for migrants to Germany, particularly for those coming from outside the European Union. The draft law, seen by Reuters, says the reform could increase the number of workers from countries outside the EU by 60,000 people a year. The opportunity card follows a points-based system that takes into account qualifications, language skills, professional experience, connection to Germany and age.

☆ Morning Bid: Bank calm, rates firm, Alibaba steals show
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +4 min

A semblance of calm has returned to world markets in the final week of the first quarter as the banking storm abates and the spotlight switched to a share-boosting six-way revamp of Chinese e-commerce giant Alibaba. Investors cheered the surprise move from Alibaba (9988.HK) as a sign Beijing's corporate crackdown may be nearing an end, sending shares of the Jack Ma-founded firm and peers soaring. The surprise move seeks to take advantage of Ermotti's experience rebuilding the bank after the global financial crisis 15 years ago. Broader stock markets were higher across the board, with Wall St futures up almost 1% ahead of the open. Futures markets now show a 50-50 chance of one more Fed rate hike in this cycle in May and half a point of easing by yearend.

The fact that Charles had picked France and Germany for his first state visit, even before his coronation in May, was an important "European gesture", said German President Frank-Walter Steinmeier, who greeted Charles and his wife Queen Consort Camilla in Berlin. "Today, exactly six years after Britain started its exit from the European Union, we are opening a new chapter in our relations," Steinmeier said. [1/14] Britain's King Charles III and German President Frank-Walter Steinmeier review an honor guard during a ceremonial welcome at Brandenburg Gate in Berlin, on March 29, 2023. Steinmeier said he had invited Charles to visit Germany at Elizabeth's funeral last September. However, any warmer relations with Europe brought about by the visit could cool if other post-Brexit issues flare up.

☆ EU agrees on retaliation to counter economic coercion
▼ + stars: | 2023-03-28 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

Representatives of the European Parliament and the Council, the grouping of EU countries, reached a provisional deal on the anti-coercion instrument (ACI) early on Tuesday. EU members have accused the administration of former U.S. President Donald Trump and China of using trade as a political tool. Under the ACI, EU governments would vote on whether a third country's economic measure amounted to coercion. If dialogue failed, the bloc could impose restrictions, such as higher import tariffs or limited access to EU public tenders. Some EU countries had been sceptical about the measure over concerns it could be protectionist and spark trade wars.

☆ In Egypt's 'Garbage City', a charity teaches children to recycle
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

Now 34, she runs a charity that encourages children in the area to make creative and positive use of their environment by exploring the space and recycling. [1/3] Teresa Saeed, 34, founder of charity "Mesaha" known as "Space" in Arabic, works with children to collect materials from rubbish to recycle in Cairo's Zabaleen known as "Garbage City", in Manshiyat Nasser, Cairo, Egypt March 17, 2023. REUTERS/Hana Habib 1 2 3Saeed's charity Mesaha, the Arabic word for space, runs weekly recycling activities for 150-200 children aged 6-15. "These activities help children connect with their environment and think outside the box," Saeed said. "I dream that those children will grow to be leaders of change in their future professions or wherever they go" she said.

[1/2] Britain's King Charles and Queen Camilla leave after their visit to the Bolton Town Hall, in Bolton, Britain January 20, 2023. Steinmeier, said it was an important "European gesture" that Charles had chosen France and Germany for his first state visit, even before his coronation in May. Steinmeier said he had extended an invitation to Charles, who has traveled to Germany more than 40 times, at the funeral of his mother last September. However, any warmer relations with Europe brought about by the visit could cool quickly if other post-Brexit issues flare up. Macron has suggested Charles' visit to France could be rescheduled for the summer.

LONDON, March 28 (Reuters) - Britain's Prince Harry appeared for a second day at London's High Court on Tuesday, where he and six other high-profile figures are suing the publisher of the Daily Mail tabloid newspaper over phone-hacking and other privacy breaches. They allege they were the victims of "numerous unlawful acts" carried out by journalists or private investigators working on behalf of Associated titles, the Daily Mail and the Mail on Sunday. Britain's Prince Harry, Duke of Sussex walks outside the High Court in London, Britain March 28, 2023. The lawsuit is one of three cases in which the British prince is involved at the High Court. Reporting by Michael Holden; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

The companies are in talks with financial advisors to explore a sale of Selangor, Malaysia-based Ramsay Sime Darby Health Care to strategic investors, three sources said. "Sime Darby Berhad continues to review strategic growth options for our healthcare segment," a company spokesperson told Reuters in an emailed statement. Ramsay Sime Darby did not immediately respond to comment. IHH, one of Asia's biggest private hospital operators, had submitted an indicative proposal in March 2022 to buy Ramsay Sime Darby Healthcare. Ramsay Sime Darby was established in 2013 via an equal joint venture of Ramsay and Sime Darby to expand their healthcare business in Southeast Asia.

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