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☆ French government to spend $216 million to destroy excess wine as younger consumers drink less alcohol
▼ + stars: | 2023-08-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

The French government hopes to shore up the country's wine industry by purchasing excess wine. The excess wine will be turned into industrial alcohol used in hand sanitizer or cleaning products. France's wine industry has seen a change in consumption habits, with less people drinking red wine. The impacts of COVID and the high cost of living have contributed to the country's wine industry woes. Between 2005 and 2021, France has seen wine consumption decrease from 33.5 million hectoliters to 25.2 million hectoliters — about a 25% decrease, according to Statista.

Persons: Food Marc Fesneau, Susie Goldspink Organizations: Service, French, of Agriculture, Food, EU, Agence France, Bloomberg, European Commission, Guardian Locations: Wall, Silicon, Presse, Europe, Italy, Spain, Germany, Portugal, France, AFP

☆ As France widens weather red alert, grape pickers told to work early
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view shows the city of Lyon after sunrise from the Fourviere esplanade as France issued a "red alert" for four southern regions amid a spell of excessively hot weather, especially in the Rhone valley, France, August 22, 2023. The Haute-Savoie region, which includes the French side of the Mont Blanc, is among the 49 departments under an orange alert for high temperatures. France's weather service on Tuesday widened its "red alert", the most serious warning, to include 15 more departments from Wednesday, which will cover large swathes of the southeastern Provence region and some areas to the southwest. HIGHEST ALERT LEVELMeteo France on Monday issued a red alert for four departments around the Rhone valley - Rhone, Drome, Ardeche and Haute-Loire. It has now added the departments of l’Ain, la Loire, l’Isère, la Lozère, le Gard, le Vaucluse, l’Hérault, l’Aveyron, le Tarn, le Tarn et Garonne, l’Aude, le Lot, le Lot et Garonne, la Haute Garonne and le Gers.

Persons: Cecile Mantovani, Mont, Aurelien Rousseau, Jerome Despey, FNSEA, Marc Fesneau, Dominique Vidalon, Sybille de la, Angus MacSwan, Bernadette Baum, Conor Humphries Organizations: REUTERS, Authorities, Agriculture, Thomson Locations: Lyon, France, Rhone, Blanc, Europe's, Haute, Savoie, Mont Blanc, Provence, Drome, Ardeche, Loire, l’Ain, la, l’Isère, le Gard, le Vaucluse, l’Hérault, le, Garonne, l’Aude, la Haute Garonne, le Gers, Languedoc, Burgundy, Meteo France, Toulouse

"We understand there is a crisis, and the need for banking, but this is our money," Hernandez said. Her business had already adopted electronic banking but she often needs quick access to cash to pay for emergencies on job sites, she added. Rodriguez said he and many other entrepreneurs began using electronic banking long before the new measures were announced to comply with tax laws that have evolved with the growing private sector. But for many smaller businesses and mom-and-pop stores in Cuba, the formalities of doing business, like paying taxes, remain novel concepts, he said. Cuban officials have said the new banking measures are necessary for transparency, to assure transactions are recorded and taxes are paid.

Persons: Alberto Quinones, Yulieta Hernandez, Hernandez, Fidel Castro, Leonardo Rodriguez, Rodriguez, Ronald Venero, Nelson Acosta, Anett Rios, Carlos Carrillo, Dave Sherwood, Marc Frank, Rosalba O'Brien Organizations: Reuters, Thomson Locations: HAVANA, Cuba, Cuban, Havana, Santiago de Cuba

☆ Extreme heat is holding the economy back. Don't expect federal legislation to help any time soon.
▼ + stars: | 2023-08-04 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

There are no federal regulations protecting workers in extreme heat. Biden announced plans to protect workers last week with more enforcement of heat-safety violations. "I urge the administration to move quickly to create this national heat standard to protect workers on the job. Last year, business groups sued Oregon over extreme heat worker protection rules, arguing the state overstepped its statutory authority in requiring employers to pay workers during breaks. However, some experts believe that investments to protect workers, such as rearranging shifts or changing uniform colors, pay off since workers can be more productive in the longer run.

Persons: Biden, Marc Freedman, Algernon Austin, Joe Biden, Bernie Sanders, haven't, Austin Organizations: Service, United States Chamber of Commerce, New York Times, OSHA, Center for Economic, Policy Research, Research, Labor Department, National Oceanic, Atmospheric Administration, Department of, Democratic, Occupational Safety, Health Administration, Safety, UPS, Asuncion Valdivia Heat, American Farm Bureau Federation, National Demolition Association Locations: Wall, Silicon, California , Colorado, Washington, America, Oregon, Texas, California , Michigan, Georgia, Asuncion Valdivia

☆ Asia markets set to fall as Wall Street sees selloff after U.S. credit downgrade
▼ + stars: | 2023-08-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Central Hong Kong and the IFC tower seen from the Avenue of Stars in Tsim Sha Tsui. (Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are set to extend losses Thursday tracking Wall Street's selloff after ratings agency Fitch downgraded the United States' long-term credit rating from AAA to AA+. In Asia, investors will be watching the Caixin survey for China's service sector activity in Juy. Futures for Hong Kong's Hang Seng index stood at 19,403, pointing to a weaker open compared to the HSI's close of 19,517,38. In Australia, futures for the S&P/ASX 200 were at 7,241 compared to the last close of 7,354.6.

Persons: Marc Fernandes, Fitch Organizations: IFC, Tsim Sha Tsui, Getty Images, United, AAA, AA Locations: Hong Kong, Tsim Sha, Asia, Pacific, United States, 19,517,38 . Hong Kong, Chicago, Osaka, Australia

☆ Cuba bans company access to ATMs, limits cash transactions
▼ + stars: | 2023-08-03 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

HAVANA, Aug 3 (Reuters) - The Cuban Central Bank issued rules this week banning state and private businesses from using ATMs and limiting cash transactions between them, as it seeks to tame runaway inflation and off-the-books business amid a grave economic crisis. They limit cash transactions to 5000 pesos and will be implemented gradually over six months, official media said. The government pegs the dollar at 24 pesos and for select companies, tourists and residents at 120 pesos, though it has few to exchange. The dollar currently fetches 230 pesos on the informal market. The crisis has led to a lack of confidence in the state-run banking system, resulting in a lack of cash at some ATMs as businesses use them, leaving residents in the lurch.

Persons: Alejandro Gil, Nelson Acosta, Marc Frank, Deepa Babington Organizations: Cuban Central Bank, Economy, Thomson Locations: HAVANA

Summary Peso's informal value hits all-time low vs dollarAnnual inflation surges to 45%Plunge in peso value 'something horrible', says teacherHAVANA, Aug 2 (Reuters) - The Cuban peso was trading on the informal market at an all-time low of 230 to the dollar on Wednesday, slumping to half its value a year ago as consumers struggle with surging inflation and scarce goods, a widely watched tracker showed. The state considers the informal exchange rate, widely tracked via the independent news outlet El Toque, as illegal, but it has been unable to shut it down. The state officially pegs the local currency at 120 pesos to the dollar, but it has few to exchange. The weakening informal rate was similar to a fall in the government’s electronic equivalent, which residents must use to purchase goods at state stores that are relatively well-stocked compared with peso outlets. Prices grew 39% last year, a figure many economists say underestimates the rate as it does not adequately account for a growing informal market.

Persons: HAVANA, Bert Hoffman, Alejandro Gil, May, Sonia Nunez, Gil, Mario Fuentes, Christian Plumb, Conor Humphries Organizations: Cuban, German Institute of Global, Communist, Economy, Thomson Locations: America, Hamburg, Cuban, Havana

☆ Cuban economy minister says no quick fix to devastating crisis
▼ + stars: | 2023-07-22 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

Speaking before the country's parliament, Gil said the primary sector, which includes agriculture, mining and other basic production, was down 34.9% compared with 2019, while manufacturing was off 20%. A third sector that includes services such as tourism, communications and education was down 4.9%. Gil said the crisis, which has left residents reeling, protesting and leaving the island nation, was "complicated," but he added that the government was working on solutions. "The gradual recovery of the Cuban economy has not yet reached the necessary pace," he said. Additional reporting by Marc Frank; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Alejandro Gil, Gil, Esteban Lazo Hernandez, Marc Frank, Paul Simao Organizations: Economy, Communist, Thomson Locations: HAVANA, Cuba

☆ There are almost no national safety rules protecting US workers exposed to high heat
▼ + stars: | 2023-07-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

The National Weather Service recorded a high temperature of 97 degrees at the Dallas Love Field airport that day. The human body’s primary way to deal with high heat is through sweating, which cools the body when it evaporates. But despite these risks, getting a clear set of rules to protect workers from high heat has proved difficult. OSHA heat safety rulesEven without a specific heat standard, OSHA can fine employers that let heat get unsafe for workers under a “general duty” rule requiring safe work places. “That’s why a heat standard would be much more useful.”OSHA said protecting workers from heat is a major priority.

Persons: ”, Jordan Barab, “, ” Eugene Gates , Jr, Carla Gates, I’m, Kimetra Lewis, Gates, Larry Kenney, Kenney, Barab, Doug Parker, Marc Freedman, Biden, ” –, Angela Fritz Organizations: New, New York CNN, Occupational Safety, Health Administration, Biden, US Chamber of Commerce, AFL, “, Labor Statistics, Lakewood Post, National Weather Service, Dallas Love, US Postal Service, CNN, National Association of, Carriers, Penn State, First Street Foundation, OSHA, Commerce Locations: New York, California, Florida, Lakewood, Dallas, Gates, United States

But even though the scam targeted Morgan Stanley clients and the advisor admitted using a Morgan Stanley product to carry it out, the firm has fought efforts to hold it responsible. "So, effectively, Morgan Stanley is lending money to the victims of this scheme and that money then gets diverted into Shawn Good's pocket," Easley said. Morgan Stanley, which topped earnings expectations Tuesday thanks in large part to its wealth management business, declined an interview request. But more important than all of that, she said, was that he worked for Morgan Stanley. Morgan Stanley was among 16 firms charged, all admitting they violated federal securities laws.

Persons: Morgan Stanley, Caitlin Andrews, It's, Shawn Edward Good, Good, Shawn Good, Michael F, Easley Jr, Shawn Good's, Easley, pilfered, Marc Fitapelli, Andrews, Fitapelli, Charles Hayward of, whatever's, Hayward, CNBC Andrews, I've, Caitlin, Louis Straney, Romeo Stelvio, Straney, Morgan Stanley's Organizations: Prosecutors, CNBC, Destiny, Easley, Eastern, Raleigh, Financial Industry Regulatory Authority, IRS, North Carolina State Bureau of Investigators, Lexus, Porsche, Tesla, Securities and Exchange, SEC Locations: Carolina Beach , North Carolina, Morgan Stanley's Wilmington, North Carolina, of North Carolina, New York, Charles Hayward of Wilmington, Santa Fe , New Mexico, France, Italy, Spain, Netherlands, Wilmington, N.C

☆ Cuba still struggling to earn foreign currency
▼ + stars: | 2023-07-18 | by ( Marc Frank | ) www.reuters.com time to read: +1 min

[1/2] People wait in line to buy foreign currency in Havana, Cuba, September 7, 2022. Morales did not say plans to import more than $9 billion and export $3.6 billion this year had changed. By comparison, in 2019 the Communist-run country reported exports of $12.6 billion and imports of $11 billion. Cuba forecast 3% growth this year, while the U.S. Economic Commission for Latin America and the Caribbean placed it at half that amount. The government last reported its foreign debt as being $19.6 billion in 2019.

Persons: Alexandre Meneghini HAVANA, Leticia Morales, Morales, Marc Frank Our Organizations: REUTERS, Prensa Latina, Agency, U.S . Economic, Latin, Thomson Locations: Havana, Cuba, Tourism, U.S, Latin America, Caribbean

☆ How Easy Is It to Fool A.I.-Detection Tools?
▼ + stars: | 2023-06-28 | by ( Stuart A. Thompson | Tiffany Hsu | ) www.nytimes.com time to read: +11 min

“Real” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “A.I.” Sensity “Real” Umm-maybe “Real” Illuminarty “Real” A.I. or Not “A.I.” Hive “A.I.” Sensity “Real” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “Real” Sensity “A.I.” Umm-maybe “Real” Illuminarty “A.I.” A.I. or Not “A.I.” Hive “A.I.” Sensity “A.I.” Umm-maybe “Real” Illuminarty “Real” A.I.

Persons: Elon Musk, ”, Musk, Chenhao Tan, “, I’m, Ron DeSantis, Cynthia Rudin, Dan Lytle, Midjourney, Kevin Guo, ” Mr, Guo, Biden, Damon Winter, Sensity, Jackson Pollock, Pollock, Marc Fibbens, Shyam Sundar, Sundar Organizations: New York Times, Guerrero Art, Times, University of Chicago, Republican, Duke University, Hive, Photoshop, The Times, The New York Times, Industry, A.I, Center, Intelligence, Pennsylvania State University Locations: A.I, Florida, “, Gettysburg, Pa, New Zealand

☆ House Passes Resolution Calling on Russia to Free U.S. Prisoners
▼ + stars: | 2023-06-13 | by ( Karoun Demirjian | ) www.nytimes.com time to read: +3 min

Why It MattersThe House has weighed in to condemn Mr. Whelan’s detention in the past, but Tuesday’s resolution was the first time that either chamber of Congress had officially called for Mr. Gershkovich’s release. Mr. Gershkovich’s arrest came just a few months after a high-profile prisoner swap in which Brittney Griner, an American W.N.B.A. American officials tried and failed to secure the release of Mr. Whelan in the deal. Mr. Whelan, who holds American, Canadian, Irish and British passports, has insisted he was visiting Russia as a tourist, and was set up. It is not clear which Russian prisoners the Kremlin would seek in exchange for either Mr. Gershkovich or Mr. Whelan, or both.

Persons: Biden, Gershkovich’s, “, Marc Fogel, Vladimir Kara, Murza, Mr, Antony J, Blinken, Roger D, Carstens, Biden’s, Gershkovich, Soviet, Brittney, Viktor Bout, Whelan, Griner’s, ”, — Organizations: American, Kremlin Locations: U.S, Russia, Russian, American, Yekaterinburg, Moscow, United States

☆ Salesforce CEO Marc Benioff and his fast-rising COO Brian Millham tell us where the software giant is headed after 'a difficult time'
▼ + stars: | 2023-06-07 | by ( Julie Bort | Nicholas Carlson | ) www.businessinsider.com time to read: +6 min

The changes shifted more responsibility to President and COO Brian Millham. The changes shift more responsibility to president and COO Brian Millham, and go some way toward addressing investor concerns about succession -- should Benioff decide to pass the CEO reins in the future. Brian Millham: Closer to 70%. We're seeing many of our ex-employees want to come back to Salesforce, incredible boomerangs back to the company. Benioff: Well, I think Brian and my marriage is quite proven.

Persons: Benioff, Brian Millham, Millham, Nich Carlson, Marc Benioff, Salesforce, Brian, he's, it's, I'm, Marc, Carlson, Ariel Kelman, Miguel Milano, Kendall Collins, you've, I've Organizations: Morning, Insider's Locations: Salesforce's, Salesforce

☆ Summer Movies 2023: Here’s What’s Coming to Theaters and Streaming
▼ + stars: | 2023-05-24 | by ( Ben Kenigsberg | ) www.nytimes.com time to read: +2 min

WHITE BIRD R.J. Palacio’s novel “Wonder” was adapted into a movie nearly six years ago. In this film, based on a follow-up book, the bully (Bryce Gheisar) of the first story learns about intolerance from his grandmother (Helen Mirren), a Holocaust survivor who shares her wartime experiences with him. (Aug. 25 in theaters)SCRAPPER A girl (Lola Campbell) is resourcefully getting by on her own after her mother’s death when her father (Harris Dickinson) returns. Charlotte Regan wrote and directed. (Aug. 25 in theaters)

(Photo by Marc Fernandes/NurPhoto via Getty Images)Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing. The producer price index for April, posted a year-on-year increase of 0.2%, against a Dow Jones estimate for 0.3% and after declining 0.4% in March. In mainland China, the Shanghai Composite fell 1.12% and closed at 3,272.36, dragged lower by in academic and educational services stocks. Hong Kong's Hang Seng index also fell 0.7% ahead of its first-quarter GDP figures. The Topix also climbed 0.64% and ended at 2,096.39, led by health care and utilities stocks.

☆ Benioff vs. Benioff
▼ + stars: | 2023-04-28 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +29 min

Within Salesforce, Benioff riffs are at times met with backlash from an angry workforce. "You're not going to fire your family during times of need," a former Salesforce executive told Insider. "I don't think they understand Ohana," Benioff told Insider. "Look, we have to be the example of stakeholder capitalism," Benioff told Insider. A 'New Day' at Salesforce"I use the Japanese principle of shoshin, beginner's mind," Benioff told Insider in a phone interview in March.

☆ What the Boston Marathon Finish Line Means Now
▼ + stars: | 2023-04-15 | by ( Talya Minsberg | Matthew Futterman | ) www.nytimes.com time to read: +14 min

The Boston Marathon is arguably the most elusive finish line of all, and not just anyone can cross it. In 2013, on a cool, partly sunny day, this ebullient scene was shattered when two bombs exploded near the finish line. On Monday, nearly 30,000 runners will journey, down and up and down, toward the finish line of the 127th Boston Marathon. Volunteer, runner I used to volunteer at the finish line, reading information about runners as they finished for the announcer. It means something so different crossing that finish line compared to other marathon majors.

☆ France says pesticide ban will not hit grain exports
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

He said that EU countries including Germany and Bulgaria were also using the pesticide on grain exports to Algeria. The questions in Parliament followed a weekend report by l'Opinion newspaper that said French grain exports would come to a halt from April 25. With the deadline looming, French grain producers had called for a swift response from the government. "We are depriving ourselves of a quarter of the outlets for French cereals," Eric Thirouin, head of French grain growers group AGPB, told Reuters. Exports put at risk by the ANSES decision amount to about 4 billion euros ($4.37 billion) in trade surplus, compared with a total grain trade surplus of about 11 billion euros last year, he said.

☆ Analysis: Russia's arrest of reporter deepens Biden's detainee challenge
▼ + stars: | 2023-04-03 | by ( Simon Lewis | ) www.reuters.com time to read: +7 min

[1/4] Reporter for U.S. newspaper The Wall Street Journal Evan Gershkovich, detained on suspicion of espionage, leaves a court building in Moscow, Russia March 30, 2023. State Department spokesperson Vedant Patel said in a news briefing on Thursday the Whelan and Gershkovich cases should not be compared. Russia's security service has, without providing evidence, accused Gershkovich of gathering information classified as a state secret about a military factory. Biden on Friday called on Russia to release Gershkovich. The Biden administration has secured the release of at least 25 "wrongfully detained" Americans.

☆ Private equity deals in Asia plunged 44% in 2022. More uncertainty may be ahead
▼ + stars: | 2023-03-28 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

watch nowAsia-Pacific's private equity market plummeted last year — as investors' appetite for risk fell in the face of inflation and geopolitical tensions, according to Bain & Company. The total deal value for the region plunged by 44% to $198 billion in 2022, the global management and consulting firm said in a Tuesday report. Lingering macroeconomic uncertainties alongside rising costs and worsening company performance that dampened investor sentiment, Bain said in its Asia Pacific Private Equity Report 2023. "For more than a decade, the Internet and tech sector has attracted the largest share of private equity capital in the Asia-Pacific region. ESG-related investmentsWhile macroeconomic conditions dampened investors' sentiment in private equity deals region-wide, Bain saw a rise in the number of deals related to environmental, social, and corporate governance (ESG).

☆ Bird flu alarm drives world towards once-shunned vaccines
▼ + stars: | 2023-02-17 | by ( Sybille De La Hamaide | ) www.reuters.com time to read: +8 min

"That's why every country in the world is worried about bird flu," French agriculture minister Marc Fesneau said. But the fear of trade restrictions remains centre stage for countries reluctant to vaccinate poultry against bird flu. Bird flu can also mutate rapidly and reduce the efficacy of vaccines while programmes are costly and time consuming, as shots often need to be administered individually. Ceva said it was using the mRNA technology used in some COVID shots for the first time in poultry vaccines. The global market for bird flu vaccines would be about 800 million to 1 billion doses per year, excluding China, said Sylvain Comte, corporate marketing director for poultry at Ceva.

HAVANA, Feb 13 (Reuters) - Cubans suffering long lines for food, fuel and medicine now have a new problem: painfully slow internet. "The internet keeps getting worse and worse and we're reaching the point where getting online is becoming impossible for the average Cuban," he said. But getting online can still be a touchy subject. Global internet watchdogs have also said Cuba has restricted internet access during recent protests to suppress coverage of the demonstrations and limit their spread. Cuba's government has since announced another cable project, called Arimao, which aims to connect Cuba to the Caribbean island of Martinique by April.

☆ Hundreds of tractors enter Paris in protest against pesticide bans
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

[1/5] French farmers drive their tractors near the Invalides during a protest over pesticide restrictions and other environmental regulations they say are threatening agricultural production, in Paris, France, February 8, 2023. REUTERS/Sarah MeyssonnierPARIS, Feb 8 (Reuters) - French farmers drove hundreds of tractors into Paris early on Wednesday to protest against pesticide restrictions and other environmental regulations they say are threatening farm production in the European Union's largest agricultural power. They warned imports of crops not subject to similar pesticide restrictions would threaten French jobs. Environmental activists say pesticide residues cause damage to the soil and wildlife. Unions were expecting 500 tractors and 2,000 farmers from around Paris to join the protest.

☆ Tesla reports earnings after the bell Wednesday
▼ + stars: | 2023-01-25 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images)Electric vehicle maker Tesla plans to report fourth-quarter results after market close on Wednesday. Here's what analysts were expecting as of Wednesday morning, according to Refinitiv:Earnings (adjusted): $1.13 per shareRevenue: $24.16 billionIn the year-ago quarter, Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share. Tesla reported 405,278 vehicle deliveries and production of 439,701 vehicles in the period ending December 31, 2022. Tesla solicits questions ahead of their earnings calls via a site called Say.com from both retail and institutional investors.

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