DIRS.INFO The most relevant business & tech news

☆ Binance founder Changpeng Zhao ordered by judge to stay in U.S. ahead of prison sentencing
▼ + stars: | 2023-11-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Binance founder Changpeng Zhao, who pleaded guilty last week to criminal charges tied to his cryptocurrency exchange, has to remain in the U.S. at least temporarily, according to a ruling Monday by a federal judge. Zhao was released on a $175 million bond last week and has a sentencing hearing scheduled for Feb. 23. Prosecutors said they'd already made an "exceptional recommendation" in suggesting that Zhao be allowed to remain free until his sentencing. Zhao agreed to step down as CEO of Binance as part of a $4.3 billion settlement with the Department of Justice. WATCH: Binance settlement a 'win' for the exchange and the industry

Persons: Changpeng Zhao, Zhao, Richard Jones, Prosecutors, they'd, Binance Organizations: Viva Technology, Porte de, Prosecutors, United Arab Emirates, U.S, Binance, Department of Justice, Justice Department Locations: Porte, Paris, U.S, Seattle, UAE, United States

☆ Ex-Binance CEO Zhao urges judge to allow him to leave the U.S. before sentencing
▼ + stars: | 2023-11-25 | by ( ) www.cnbc.com time to read: +3 min

Lawyers for former Binance CEO Changpeng Zhao are urging a U.S. judge to reject the Justice Department's request to bar him from returning to his home in the United Arab Emirates until he is sentenced for violating anti-money laundering requirements. Zhao's lawyers in a Thursday filing asked U.S. District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the U.S. while awaiting sentencing. The Justice Department has asked Jones by Monday to reverse a decision by U.S. Magistrate Judge Brian Tsuchida to allow Zhao to return home to the UAE ahead of his Feb. 23 sentencing after he agreed to release him on a $175 million bail bond. Allowing Zhao to return to the UAE would allow him to take care of his partner and three children and prepare them for his sentencing, defense lawyers argued. "In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the United States would be detained," Justice Department lawyers said.

Persons: Zhao Changpeng, Binance, Changpeng Zhao, Richard Jones, Zhao, Jones, Brian Tsuchida Organizations: Viva Technology, Porte de, United Arab Emirates, U.S, District, Islamic, U.S . Commodity Futures Trading Commission, Justice Locations: Porte, Paris, France, Seattle, U.S, UAE, Canada, Binance, al Qaeda, Islamic State, Iraq, Syria, United States

Zhao's lawyers in a Thursday filing asked U.S. District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the U.S. while awaiting sentencing. Zhao, a citizen of the UAE and Canada, stepped down as CEO of Binance on Tuesday after pleading guilty to willfully causing the global cryptocurrency exchange to fail to maintain an effective anti-money laundering program. Allowing Zhao to return to the UAE would allow him to take care of his partner and three children and prepare them for his sentencing, defense lawyers argued. The Justice Department did not respond to a request for comment on Friday. Reporting by Nate Raymond in Boston, Editing by Alexia Garamfalvi and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhao Changpeng, Binance, Benoit Tessier, Changpeng Zhao, Richard Jones, Zhao, Jones, Brian Tsuchida, Nate Raymond, Alexia Garamfalvi, Marguerita Choy Organizations: Viva Technology, Porte de, REUTERS, United Arab Emirates, U.S, District, Islamic, U.S . Commodity Futures Trading Commission, Justice, Thomson Locations: Porte, Paris, France, Seattle, U.S, UAE, Canada, Binance, al Qaeda, Islamic State, Iraq, Syria, Boston

Zhao's lawyers in a Thursday filing asked U.S. District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the U.S. while awaiting sentencing. Zhao, a citizen of the UAE and Canada, stepped down as CEO of Binance on Tuesday after pleading guilty to willfully causing the global cryptocurrency exchange to fail to maintain an effective anti-money laundering program. Allowing Zhao to return to the UAE would allow him to take care of his partner and three children and prepare them for his sentencing, defense lawyers argued. The Justice Department did not respond to a request for comment on Friday. Reporting by Nate Raymond in Boston; Editing by Alexia Garamfalvi and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Renault sets out targets for EV unit, says won't sell it cheap
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, forecast 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031. Finance chief Thierry Pieton told reporters ahead of the presentation Renault would not sell off Ampere cheap and had ample cash flow to keep financing it should it not get the valuation it wanted for an IPO. Asked if Renault could decide to distribute Ampere shares to existing Renault shareholders instead of proceeding with an IPO, he said: "Renault is always open to other options for Ampere, but the IPO is the preferred option." Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time."

Persons: Gonzalo Fuentes, Luca de Meo's, Thierry Pieton, Ampere, Pieton, Renault, Gilles Guillaume, Silvia Aloisi Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, Finance, Thomson Locations: Porte, Paris, France, Europe

☆ Renault seeks to charge up investors for EV unit IPO
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

De Meo has targeted a valuation of 8-10 billion euros ($8.6-10.7 billion) for the initial public offering (IPO) of Ampere, which has already been delayed once and is now slated for spring 2024. Two of the sources said Renault was unlikely to go ahead with the IPO if the valuation falls below 7 billion euros, and one said the cut-off point could be closer to 6 billion euros. UBS analysts have valued Ampere at just 3-4 billion euros, and others have questioned the rationale of listing the EV business to raise funds. On Wednesday, De Meo will argue his case for what could be the first attempt by a traditional automaker to unlock value from an EV business via an IPO. Over the first nine months of 2023, Renault brand EV sales fell by around 5% in Europe, having been up 2.5% in the first half, weighed down by a limited line-up.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Renault, BEV, de Meo, Elon Musk's Tesla, Zoe, Silvia Aloisi, Mark Potter Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, UBS, ICE, Jefferies, Nissan, Elon, EV, Thomson Locations: Porte, Paris, France, Europe

☆ Salesforce's strong stock price wooed some investors during third quarter-filings
▼ + stars: | 2023-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The two hedge funds had each cut their investments in Salesforce during the second quarter. Still Starboard Value the first activist to speak publicly in October 2022 about needed changes at Salesforce cut its stake again, the filings show. On Sept. 30, the hedge fund owned 1.7 million shares, marking a 14% drop from what it owned at the end of the second quarter. Light Street Capital Management cut its stake by 44%, while Polen Capital Management trimmed it by 3.2%, the filings show. While Salesforce's stock price lost some ground during the third quarter, it has continued to move higher and closed trading at $221.18 on Tuesday.

Persons: Porte, Benoit Tessier, Salesforce, Mason Morfit, Svea Herbst, Bayliss, Aurora Ellis Organizations: Viva Technology, Porte de, REUTERS, Capital Management, Farallon Capital Management, Elliott Investment Management, ValueAct, Investment, Securities and Exchange, Street Capital Management, Polen Capital Management, Svea, Thomson Locations: Paris, France, Salesforce, Polen

Visitors cast their shadows past the logo of Google at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "The payments that Google makes reflect that competition," he said. Murphy also argued that the payments to device makers and others were often passed through to users in the form of a cheaper phone or better data plan. Further, Murphy argued that while Microsoft had virtually all the preinstalled browser defaults in early 2010s, its Bing search engine got just 15% of search queries. Reporting by Diane Bartz Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Kevin Murphy, Apple, Murphy, Diane Bartz, Marguerita Choy Organizations: Google, Viva Technology, Porte de, REUTERS, Microsoft, Apple, University of Chicago Booth School of Business, Big Tech, Thomson Locations: Porte, Paris, France, WASHINGTON

☆ Snap conducts a small round of layoffs to its product team
▼ + stars: | 2023-11-08 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Snap has conducted a round of layoffs as part of a reorganization intended to streamline the social-messaging company. Nearly 20 employees who held product management titles were laid off, Snap said in a statement on Wednesday. The layoffs were not centered on any specific product and were part of the company's plans to increase decision-making speed and reduce overhead, the company said. The layoffs come after Snap recently reported third-quarter earnings in which its overall sales grew 5% year-over-year to $1.19 billion, beating analyst expectations. As a result, Snap said it would not provide official guidance "due to the unpredictable nature of war."

Persons: Evan Spiegel, Porte, Susan Li, Sen, Blumenthal, Blackburn Organizations: Snap Inc, Viva Technology, Porte de, Technology, Meta Locations: Paris, France, Israel

☆ French prosecutors investigating Sanofi over possible market manipulation
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A logo on the Sanofi exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. French prosecutors have opened a preliminary investigation into multinational pharmaceutical company Sanofi over possible market manipulation. "Sanofi is not aware of any preliminary investigation on its 2017 accounts or other matter by the Parquet National Financier. We stand by the accuracy of our accounts," Sanofi said in an emailed statement. "As a listed company, the financial information published by Sanofi is accurate, precise and sincere, and is duly audited by two auditing firms.

Persons: Sanofi, — CNBC's Charlotte Reed Organizations: Sanofi, Viva Technology, Porte de, CNBC, National Locations: Porte, Paris, France, National

☆ How Huawei plans to rival Nvidia in the AI chip business
▼ + stars: | 2023-11-07 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

Better known globally for its telecoms and smartphones businesses, Huawei has for the past four years been building an AI chip line. Here is what we know about its Ascend AI chip series, and its main product to rival Nvidia's A100 chip, the 910B. WHY AND HOW DID HUAWEI ENTER THE AI CHIP BUSINESS? Baidu ordered 1,600 of Huawei 910B chips for 200 servers in August, one source told Reuters. Analysts have estimated China's AI chip market to be worth $7 billion and grabbing market share from Nvidia could mark a win for Huawei against the United States.

Persons: Benoit Tessier, Nvidia, CANN, Liu Qingfeng, iFlyTek, Jiang Tao, Baidu, Meng Wanzhou, Josh Ye, Brenda Goh Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Nvidia, Huawei, Baidu, HK, HUAWEI, Reuters, Analysts, CHINA, Thomson Locations: Porte, Paris, France, HONG KONG, China, United States

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNEW YORK, Nov 2 (Reuters) - Amazon.com Inc (AMZN.O) punished its own sellers to limit Walmart's reach as Walmart got into e-commerce, according to the Federal Trade Commission (FTC). Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers. This, Amazon realized, could result in sellers passing on those savings to customers, the FTC said. To hamstring Jet.com, Amazon removed some third-party sellers' offers from its Buy Box. Amazon spokesperson Tim Doyle said the FTC "grossly mischaracterizes" the pricing tool and the company stopped using it several years ago.

Persons: Gonzalo Fuentes, it's, Burt Flickinger, Jet.com, Tim Doyle, Siddharth Cavale, Vanessa O'Connell, Lisa Shumaker Organizations: Viva Technology, Porte de, REUTERS, Amazon.com Inc, Walmart, Federal Trade Commission, Jet.com, Amazon, FTC, Jet, Thomson Locations: Paris, France, New York

☆ UK secures commitments from Amazon and Meta over retail platforms
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Amazon is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Britain's competition watchdog said on Friday it had accepted commitments from tech companies Meta (META.O) and Amazon (AMZN.O) to help protect fair competition on their retail platforms. The commitments from the U.S. tech giants mark the end of the Competition & Markets Authority's (CMA) investigation into Amazon Marketplace and Meta's use of advertising data. Amazon has committed to not use rival sellers' marketplace data to gain an unfair advantage, ensuring that third-party marketplace sellers can compete on a level-playing field, the CMA said. CMA in July had said that Amazon's offer to change the way it treats third-party sellers using its Marketplace platform addresses competition concerns in its preliminary view.

Persons: Gonzalo Fuentes, Meta, Kylie MacLellan, Farouq Suleiman, Radhika Anilkumar, William James, David Evans Organizations: Viva Technology, Porte de, REUTERS, Competition, Amazon Marketplace, CMA, Facebook, Thomson Locations: Paris, France, U.S, London, Bengaluru

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

☆ Here's an update on 10 of our companies that reported earnings and how we feel about each stock
▼ + stars: | 2023-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

GOOGL YTD mountain Alphabet YTD Alphabet (GOOGL): The quarter from the Google parent was mixed . On one hand, we were pleased to see revenue growth acceleration and beats at Search and YouTube. For Alphabet to catch up in the AI race, it might be forced to invest more aggressively, creating an imbalance between revenue growth and expense growth. AMZN YTD mountain Amazon YTD Amazon (AMZN): This was a fantastic quarter that checked a lot of boxes for us. While AWS cloud revenue growth may not have accelerated as some optimistic bulls had hoped for, it stabilized.

Persons: Jim Cramer's, Here's, inflect, We're, Mark Zuckerberg's, Danaher, Ford, Decker YTD Stanley Black, Decker, Jim Cramer, Jim, Benoit Tessier Organizations: Jim Cramer's Charitable, CNBC, Sciences, Microsoft, Google, Web Services, LIN, Linde, Honeywell, Aerospace, Technologies, Materials, Productivity Solutions, Ford, UAW, Meta, Inc, Viva Technology, Porte de Locations: China, North America, breakeven, Porte, Paris

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Exclusive: Google to run internet cables to Pacific islands in Australia-US deal
▼ + stars: | 2023-10-25 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - Alphabet's Google (GOOGL.O) will run undersea cables powering internet access to at least eight far-flung Pacific Ocean nations under a joint U.S.-Australian deal set to be announced on Wednesday, according to a U.S. official. The deal will expand an existing commercial project by Google in the region to the nations of Micronesia, Kiribati, the Marshall Islands, Papua New Guinea, the Solomon Islands, Timor-Leste, Tuvalu and Vanuatu. Set to be announced during an official White House visit by Australian Prime Minister Anthony Albanese, the previously unreported deal involves contributions from both governments. Google is currently working on a fiber-optic cable that links Taiwan, the self-ruled island claimed by China, with the Philippines and the United States. As part of the Pacific islands project, the United States will work with the countries on cybersecurity resilience, helping them back up key information to global cloud networks, according to the official.

Persons: Gonzalo Fuentes, White, Anthony Albanese, Joe Biden, Trevor Hunnicutt, Raju Gopalakrishnan Organizations: Google, Viva Technology, Porte de, REUTERS, Rights, U.S, Australian, Thomson Locations: Porte, Paris, France, U.S, Micronesia, Kiribati, Marshall Islands, Papua New Guinea, Solomon Islands, Timor, Leste, Tuvalu, Vanuatu, Canberra, Washington, China, United States, Taiwan, Philippines

☆ Analysis: US chip curbs give Huawei a chance to fill the Nvidia void in China
▼ + stars: | 2023-10-20 | by ( Josh Ye | ) www.reuters.com time to read: +5 min

Huawei's Ascend AI chips are comparable to Nvidia's in terms of raw computing power, analysts and some AI firms such as China's iFlyTek (002230.SZ) say, but they still lag behind in performance. "This U.S. move, in my opinion, is actually giving Huawei's Ascend chips a huge gift," Jiang said in a post on his social media Weibo account. Huawei and Nvidia did not immediately respond to Reuters' requests for comment. Huawei's partners in China so far include iFlyTek, a leading Chinese AI software company which is using the Ascend 910 to train its AI models. Other partners include state-owned software firms Tsinghua Tongfang and Digital China.

Persons: Benoit Tessier, Jiang Yifan, Jiang, CANN, Woz Ahmed, Ahmed, Meng Wanzhou, IFlyTek, Jiang Tao, Charlie Chai, 86Research, Xi Jinping, Chai, Josh Ye, Brenda Goh Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Nvidia, Huawei, Securities, Tsinghua, Digital, Thomson Locations: Porte, Paris, France, HONG KONG, China, United States, U.S, Digital China

☆ Amazon to launch drone deliveries in Italy and UK in late 2024
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The customers in these locations will have the option to have their packages delivered by a drone starting late 2024, Amazon said in a statement. Drone deliveries would be integrated into Amazon's existing fulfillment network and will be deployed from same-day delivery sites, the company added. Amazon's drone based service, called Prime Air, is currently available in two cites in California and Texas, where it launched last year. Reporting by Jyoti Narayan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Amazon, Jyoti Narayan, Shailesh Organizations: Viva Technology, Porte de, REUTERS, Thomson Locations: Porte, Paris, France, Britain, Italy, United States, California, Texas, Bengaluru

☆ Snap rises nearly 12% after CEO shares strong 2024 goals with employees
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Snap shares rose nearly 12% on Monday following reports of an internal CEO memo indicating that the social messaging company could post better-than-expected results for 2024. Snap confirmed the numbers cited in the memo with CNBC but characterized them as "stretch, internal goals only." "I know this was an internal memo, but management must have known it was going to leak." Snap shares sank more than 17% in July after it gave guidance for its current quarter that missed analysts' expectations. Correction: An earlier version of this story misstated the nature of the numbers cited in the memo — they were goals, not projections.

Persons: Evan Spiegel, Porte, Bernstein, Mark Schilsky, Schilsky Organizations: Snap Inc, Viva Technology, Porte de, Tech Specialists, CNBC, Meta, SNAP Locations: Paris, France, Russia, Ukraine

REUTERS/Wu Hong/Pool/File Photo Acquire Licensing RightsMOSCOW/BEIJING, Oct 16 (Reuters) - Russian President Vladimir Putin will travel to China this week to meet Xi Jinping, the Kremlin chief's first trip outside the former Soviet Union this year. What are the five things to watch for at the meeting? Li was sanctioned by the U.S. in 2018 for an arms deal he secured with Russia in an earlier role. Xi also awarded Putin a friendship medal in 2018, saying that "Putin is my best close friend". Putin said in March that he had invited Xi to his private apartment in the Kremlin.

Persons: Xi Jinping, Vladimir Putin, Wu Hong, Li Shangfu, Li, General Liu Zhenli, Putin, Xi, Alexei Miller, Igor Sechin, Maxim Reshetnikov, Guy Faulconbridge, Alison Williams Organizations: Xiamen International Conference and Exhibition Center, REUTERS, Kremlin, Russia, People's Liberation Army, PLA, U.S . Department of Defence, China, United, Gazprom, Reuters, Thomson Locations: Russian, Xiamen, Fujian Province, China, MOSCOW, BEIJING, Soviet Union, U.S, Russia, Xiapu, Ukraine, United States, India, Moscow, Kremlin, Siberia, Mongolia, Asia, Germany

☆ Luxury stocks drag European shares lower on LVMH disappointment
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

The logo of LVMH is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsOct 11 (Reuters) - European stocks slipped on Wednesday after sharp gains in the previous session, as luxury giant LVMH dragged the sector lower on disappointing sales, though Novo Nordisk jumped after positive update on its diabetes drug Ozempic. The pan-European STOXX 600 index (.STOXX) dipped 0.2% by 0707 GMT. Shares of other French luxury majors such as Hermes (HRMS.PA) and Kering (PRTP.PA) fell 2.5% and 2.7%, respectively. Swiss luxury firms Richemont (CFR.S) fell 5.3% and Swatch Group (UHR.S) dropped 2.9%.

Persons: Gonzalo Fuentes, Danish drugmaker, Sruthi Shankar, Rashmi Organizations: Viva Technology, Porte de, REUTERS, Novo Nordisk, U.S . Federal Reserve, Swatch Group, Fresenius, Thomson Locations: Porte, Paris, France, U.S, Danish, Bengaluru

David Willard has been checking the grounds of Chicago's lakefront exhibition center for dead birds for 40 years. Researchers estimate hundreds of millions of birds die in window strikes in the United States each year. When they see plants or bushes through windows or reflected in them, they head for them, killing themselves in the process. Pre-dawn rain forced the birds to drop to lower altitudes, where they found the McCormick Center’s lights on, Willard said. The first buildings at McCormick Center were constructed in 1959.

Persons: David Willard, ”, Willard, we've, Matt Igleski, it's, Stan Temple, They’ve, Temple, they’ve, “, McCormick, Anna Pidgeon, ” Willard Organizations: Chicago Field Museum, Smithsonian Conservation Biology Institute, U.S . Fish, Wildlife Service, Chicago Audubon Society, University of Wisconsin, University of Wisconsin -, University of Wisconsin - Madison ., World Trade Center, National Audubon Society, McCormick Center Locations: McCormick, United States, U.S, Galveston , Texas, Chicago, Madison, Michigan, University of Wisconsin - Madison, New York City, Toronto , New York, Boston, San Diego, Dallas, Miami

☆ Renault, Volvo, CMA CGM pool forces to develop electric vans
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsPARIS, Oct 6 (Reuters) - Carmakers Renault (RENA.PA) and Volvo and shipping group CMA CGM said on Friday they will jointly develop a new generation of electric vans, aiming to begin production in 2026. Renault and Volvo signed binding agreements to launch a new company where they will initially each hold a 50% equity stake and invest 300 million euros over the next three years, they said in a statement. CMA CGM signed a non-binding letter of intent with Renault and Volvo to join the new company and invest 120 million euros through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors. There was no further detail on when this might happen or what stake it may take in the venture. The creation of the new company is expected early 2024 and remains subject to the completion of all regulatory approval processes.

Persons: Gonzalo Fuentes, Carmakers, Dominique Vidalon, Elaine Hardcastle Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Carmakers Renault, Volvo, CMA, CMA CGM, Energy Fund, Thomson Locations: Porte, Paris, France

Search resuls for: "Exhibition Center"

25 mentions found