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☆ Pilots at rivals call Delta's pay offer a new 'benchmark'
▼ + stars: | 2022-12-05 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

Delta's offer also includes a lump-sum one-time payment, reduced health insurance premiums, and improvements in holiday pay, vacation, company contributions to 401(k) and work rules. Its union estimates the proposed deal represents more than $7.2 billion of cumulative value increases over the next four years. Similarly, United pilots turned down an offer that included more than 14.5% cumulative wage increases and enhanced overtime and training pay. Analysts at Jefferies estimate Delta's offer could hike non-fuel operating costs by 450 basis points in 2023 vis-à-vis 2019. Casey Murray, a pilot and the president of the Southwest Airlines Pilots Association, said Delta's proposed deal will help it in the competition for a shrinking pool of pilots.

☆ Delta, pilots reach labor deal with 34% pay hike
▼ + stars: | 2022-12-05 | by ( ) edition.cnn.com time to read: +3 min

The Atlanta-based carrier’s pilots have been working without a new contract for nearly three years after their old contract became amendable in December 2019, fueling frustration. With the industry returning to profitability, pilots argue airlines can pay them more to cover their increased costs of living. In the draft agreement, Delta promises that pay rates for its pilots will exceed those at United and American by at least 1%. In a memo to its members, the union representing Delta pilots said the deal represents more than $7.2 billion of cumulative value increases over the next four years. Hundreds of United pilots picketed outside Chicago’s O’Hare airport on Thursday, asking for an “industry-leading” contract.

If the deal is approved by Delta pilots, it is widely expected to act as a benchmark for contract negotiations at rivals United Airlines (UAL.O) and American Airlines (AAL.O). The Atlanta-based carrier's pilots have been working without a new contract for nearly three years after their old contract became amendable in December 2019, fueling frustration. In the draft agreement, Delta promises that pay rates of its pilots will exceed those at United and American by at least 1%. In a year of protests for the industry, pilots at all major U.S. carriers have been demanding higher wages and a better work-life balance. In its memo, Delta's pilot union said more than 25% of the value of the contract agreement is dedicated to quality-of-life related items.

For years, Argentine fans said that no matter how many Ballons d'Or and trophies Messi won with Barcelona, he could never match Maradona until he too lifted a World Cup. EMOTIONAL MESSIMany of the banners show Messi and Maradona together, some depicting the late No. And Messi himself has opened up emotionally to rally the team and nation after their shock defeat to Saudi Arabia. "For me, Messi has always felt and done his all for the national team, from his first game until now. "Messi has suffered from being a venerated star in Barcelona but often under attack here in Argentina."

☆ India's Reliance makes rare buy of Russian naphtha, ups fuel oil imports
▼ + stars: | 2022-12-02 | by ( Mohi Narayan | ) www.reuters.com time to read: +2 min

The private refiner did not buy Russian naphtha in 2020 and 2021. Its annual imports of Russian naphtha were restricted to just one parcel in four years to 2019, the data showed. The data showed a panamax carrier Okyroe sailing towards India laden with about 59,000 tonnes of Russian naphtha. Russian naphtha is being sold at lower premiums to countries like India, two Asian naphtha traders said. FUEL OIL IMPORTS SURGEReliance, its two plants together capable of processing 1.4 million barrels of oil a day, has emerged as a key buyer of Russian oil since Moscow's February military action in Ukraine.

☆ World Cup 2022 top goal scorer: who could win Golden Boot?
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +5 min

Dec 1 (Reuters) - The 2022 FIFA World Cup in Qatar is nearing its knockout phase. England's captain Harry Kane bagged the prize in the 2018 edition of the World Cup in Russia, where he scored six goals and led his team to the semi-finals. MARCUS RASHFORDSoccer Football - FIFA World Cup Qatar 2022 - Group B - Wales v England - Ahmad Bin Ali Stadium, Al Rayyan, Qatar - November 29, 2022 England's Marcus Rashford with manager Gareth Southgate after being substituted REUTERS/Hannah MckayThe England striker has enjoyed a dream start to his World Cup campaign in Qatar. BRUNO FERNANDESSoccer Football - FIFA World Cup Qatar 2022 - Group H - Portugal v Uruguay - Lusail Stadium, Lusail, Qatar - November 28, 2022 Portugal's Cristiano Ronaldo and Bruno Fernandes celebrate after the match REUTERS/Kai PfaffenbachPortugal's run in the World Cup in Qatar so far has been overshadowed by controversy surrounding Cristiano Ronaldo and his acrimonious departure from Manchester United. WORLD CUP TOP GOAL SCORER 2022: GOLDEN BOOT STANDINGS** Stats as of Nov. 30Compiled by Siddharth K in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Asian FX bulls loom on signs of slowing Fed rate hikes, China reopening
▼ + stars: | 2022-12-01 | by ( Savyata Mishra | ) www.reuters.com time to read: +4 min

Market participants turned bullish on the U.S. dollar-sensitive South Korean won for the first time since July 1, 2021, the poll of 12 analysts showed on Thursday. Expectations that the dollar's strength and U.S. yields had peaked saw investors return to emerging markets in November. "Given the negative burden of the Fed's tightening cycle on Asian currencies, an eventual pivot toward easing will likely deliver a rally in Asia FX," BofA analysts said in a note last week. However, Barclays analysts warn of challenges from increased fragmentation of domestic politics and the slowing economy. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.

☆ Secret 9/11 memo reveals Bush rewriting the history of the 9/11 attacks and the warnings he'd tuned out
▼ + stars: | 2022-11-30 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +19 min

The ten members of the 9/11 Commission got to ask him and Vice President Dick Cheney any question they wanted about the September 11th attacks. What the new memo makes clear is that the White House's lack of urgency in facing down the domestic Al Qaeda threat wasn't all that complicated. Fortunately for Bush, the 9/11 Commission Report was careful not to point the finger directly at the sitting president. Still, when set beside the newly declassified memo, their official version of history as described by the 9/11 Commission Report feels incomplete, and sanitized. On the question of whether Al Qaeda came up during the August 17 briefing, Morell said he did not remember.

LONDON, Nov 28 (Reuters) - Paris' luxury-laden stock exchange is now worth more than London's. France's CAC All Shares index (.PAX) is now worth almost $3 trillion, making it Europe's largest stock market by value thanks to demand for its luxury-retailer blue chips. Reuters GraphicsFUND FLOWSSo far in 2022, funds investing in UK stocks have seen record outflows of 23 billion euros, according to Refinitiv Lipper, up from almost 18 billion euros last year and the 14.6 billion euros shed in 2016, when Britain voted to leave the European Union. Annual outflows from French equity funds are much smaller - at 2 billion euros this year. FX MATTERSIt's also worth noting that currency comes into play when measuring the size of London's market against Paris' in dollar terms.

☆ Foxconn unrest risks iPhone shipments, weighs on Apple shares
▼ + stars: | 2022-11-26 | by ( Yimou Lee | ) www.reuters.com time to read: +5 min

Apple shares were down 1.9% in late morning trade on Friday, while the benchmark Nasdaq index was down 0.3%. LOWER SHIPMENTSKGI Securities analyst Christine Wang said if the current issue lasts through December, around 10 million units of iPhone production will be lost, which translates to 12% lower iPhone shipment in the last quarter of 2022. REUTERS/Ann Wang 1 2Wedbush Securities estimates many Apple stores now have 25% to 30% fewer iPhone 14 Pros than normal heading into the holiday shopping season. In a statement on Nov. 7, Apple said it expected lower iPhone 14 Pro and iPhone 14 Pro Max shipments than previously anticipated. Another Foxconn source familiar with the matter said some new hires had left the campus but did not elaborate on how many.

☆ More than 20,000 new hires have left Apple supplier Foxconn's Zhengzhou plant in China - Foxconn source
▼ + stars: | 2022-11-25 | by ( Yimou Lee | ) www.reuters.com time to read: +2 min

TAIPEI, Nov 25 (Reuters) - More than 20,000 employees, most of them were new hires not yet working on the production line, have left Apple (AAPL.O) supplier Foxconn's (2317.TW) Zhengzhou plant in China, a Foxconn source familiar with the matter told Reuters on Friday. The worker departures come after the Taiwanese firm offered on Thursday 10,000 yuan ($1,396) to employees who wanted to resign and leave the chaos-hit plant. Videos posted on Chinese social media on Friday showed crowds and long lines of luggage-laden workers queuing for buses. A second Foxconn source familiar with the matter said some new hires had left the campus but did not elaborate on how many. The curbs forced the company to isolate many employees and the plant's conditions prompted several to flee.

☆ Putin tells mothers of soldiers killed in Ukraine: 'We share your pain'
▼ + stars: | 2022-11-25 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +4 min

Putin said he understood the anxiety and concern of soldiers' mothers - and the pain of those who had lost sons in Ukraine. Putin said he sometimes called Russian soldiers at the front, and that their words had made them heroes in his eyes. But some relatives of soldiers killed in the war said the Kremlin had ignored their pleas for a meeting. Russia last publicly disclosed its losses in the war on Sept. 21, when Defence Minister Sergei Shoigu said 5,937 Russian soldiers had been killed. The United States' top general estimated on Nov. 9 that Russia and Ukraine had each seen more than 100,000 of their soldiers killed or wounded.

☆ EDF could lose 5 bln euros from France's windfall tax -Les Echos
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 24 (Reuters) - A planned French windfall tax on energy companies' profits during Europe's current energy crisis would likely cost debt-laden nuclear giant EDF (EDF.PA) around 5 billion euros ($5.20 billion) next year, newspaper Les Echos reported on Thursday. The levy, which is part of the 2023 fiscal bill parliament is currently deliberating, would make EDF by far the biggest contributor to the scheme, Les Echos said. EDF, the operator of France's nuclear plants and many renewables sites, declined to comment. The French government intends to trigger the levy at 100 euros per megawatt hour (MWh) for nuclear and renewable energy production. The move will further strain EDF finances, which after various profit warnings this year linked to problems at its nuclear reactors, is in the process of being fully nationalised.

☆ Neymar: what can we expect from Brazil forward at World Cup 2022?
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

Nov 24 (Reuters) - Brazil kick off their quest for a record-extending sixth World Cup title when they play Serbia in Lusail, Qatar on Thursday with all eyes on Neymar who could be playing in his last finals. MORE HEARTBREAK IN RIOHaving become a household name after his move to Barcelona, a lot was expected from Neymar who spearheaded Brazil's attack at the 2014 World Cup on home soil, but the event would end in tears for the talismanic player. Neymar suffered a sprained right ankle that affected the fifth metatarsal in his foot and he was never fully fit during the World Cup in Russia, as Brazil were knocked out in the quarter-finals by Belgium. Criticised for his antics off and on the pitch in the past, fans were surprised by a seemingly different Neymar ahead of the Qatar World Cup thanks to his physical and mental preparation. A trophy-laden club career apart, delivering Brazil's first World Cup since 2002 will go a long way in helping Neymar cement his place among the game's modern greats.

☆ China Evergrande communicates with Wuhan over repossessed land
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] A crane stands at a construction site near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China, Sept. 26, 2021. REUTERS/Aly Song/File PhotoNov 24 (Reuters) - Debt-laden developer China Evergrande Group (3333.HK) is communicating with a Chinese municipal district in Wuhan City that repossessed 134,500 hectares (332.4 acres) of land formerly held by a unit of the group. China Evergrande said it is communicating with the government of Jiangxia District in Wuhan City and "will file an administrative review on this matter to protect the legitimate rights and interests of the company". The company clarified that the municipal district retrieved its land-use rights over only 11 parcels of land under the project and it does not involve the project's other land parcels. China Evergrande, engulfed by $300 billion of liabilities in a deepening property sector debt crisis, aims to start negotiating restructuring terms next month and is combing through onshore assets to offer as credit enhancement to holders of its U.S. dollar-denominated bonds.

☆ Evergrande creditors ask chairman for $2 bln fund infusion -Bloomberg
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 24 (Reuters) - Debt-laden developer China Evergrande Group (3333.HK) has told offshore creditors that it plans to present a restructuring proposal as soon as the first week of December, Bloomberg News reported on Thursday. The proposal could include swapping debt for shares in the company's Hong Kong-listed auto and property management units, the report said, citing unnamed sources. The group of creditors asked Chairman Hui Ka Yan to infuse at least $2 billion of his personal wealth into Evergrande as a condition for agreeing on any proposals from the company, it added. Reuters last week reported that Evergrande plans to use domestic assets as sweeteners to win offshore creditor approval for a long-awaited debt restructuring. Once China's top-selling property developer, Evergrande has been at the centre of a deepening property debt crisis that has led to multiple developers defaulting on offshore debt obligations over the past year.

Deals for European football clubs this year, beginning with the sanctions-driven sale of Chelsea Football Club by Russian oligarch Roman Abramovich in May, have fetched top dollar. Those complaints were aired again this month by superstar player Cristiano Ronaldo, who parted ways with Manchester United for the second time. Spokespeople for the six members of the Glazer family that are major Manchester United shareholders could not be reached for comment. More deals are in the works, with Manchester United arch rival Liverpool Football Club also exploring a sale. In August, Elon Musk tweeted: "I'm buying Manchester United ur welcome" only to then clarify he meant it as a joke.

☆ Mbappe has to understand Messi and Neymar are bigger than him, says Alves
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 24 (Reuters) - France striker Kylian Mbappe is yet to understand that his Paris St Germain team mates Lionel Messi and Neymar are bigger players than him, Brazil defender Dani Alves said, as he urged the 23-year-old to make the most of their time together. Alves shared a dressing room at PSG with compatriot Neymar and a newly-arrived Mbappe between 2017 and 2019 and also played alongside Messi at Barcelona in a trophy-laden eight-year spell. Galtier said last month PSG had changed their system to test how their attacking trio of Messi, Mbappe and Neymar could work more effectively. "Neymar and Messi are unique: they see and do things nobody else sees or can do. Alves, who now plays for Pumas UNAM, said Mbappe should take advantage of playing with Messi and Neymar.

☆ What is Hive? I tried the latest Twitter alternative to gain steam
▼ + stars: | 2022-11-23 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

This week, Hive Social garnered the top spot in the social networking category on the US App Store. As I tried to download the Hive app on my Apple device, however, I was greeted with a series of errors. Hive Social, which lists just two employees on LinkedIn, did not respond to CNN Business’ requests for an interview or further comment. On its website, Hive Social also outlines goals for keeping the community respectful. To be fair, Hive started in 2019 and never sought to be a Twitter clone or to welcome a sudden influx of disgruntled Twitter users.

The report noted that potential disposals of non-core assets may include Fosun's stake in Cainiao. According to Refinitiv data, Fosun has agreed to sell or sold over $5 billion in assets this year. Reuters reported on Tuesday that Fosun has appointed Deutsche Bank to sell its stake in reinsurance company Peak Re. read moreIn 2013, Fosun had invested 500 million yuan as a co-founder of Cainiao, the logistics firm that underpins delivery for Alibaba's e-commerce marketplaces. Cainiao raked in 26 billion yuan in revenue in the six months ended September, up 19% year-on-year and accounting for 6% of Alibaba's total revenue.

☆ Chinese lender BoCom agrees $14 bln credit line with developer Vanke
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 23 (Reuters) - China's Bank of Communications Co Ltd (BoCom) (601328.SS) said on Wednesday it would provide a 100 billion yuan ($13.98 billion) credit line to developer Vanke in the latest sign of support for the embattled property sector. The property sector makes up about a quarter of the economy. Under the agreement, BoCom will likely offer Vanke (000002.SZ) property development loans, mortgage loans and loans for merger and acquisition deals, according to a statement released by the lender. The agreement is part of the bank's efforts to implement 16 measures outlined by Chinese regulators to support the property sector, it said in the statement. China's property sector, once a pillar of growth, has slowed sharply this year due to government efforts to restrict excessive borrowing by developers.

☆ Fact Check-Altered image of John McCain and Lindsey Graham standing with Osama bin Laden resurfaces online
▼ + stars: | 2022-11-22 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An altered image of late Arizona senator John McCain and South Carolina’s Lindsey Graham standing with the late Al-Qaeda founder Osama bin Laden has resurfaced online. The image appears to show McCain and Graham pictured with bin Laden standing between them. Other recent examples of the altered image being shared online can be found (here), (here) and (here). McCain and Graham visited troops in Kabul, Afghanistan on July 4, 2013, during celebrations of the U.S. The original photograph shows McCain and Graham pictured with former Afghan President Karzai in July 2013.

☆ Debt-laden China Evergrande gives back land sites to Wuhan city
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Nov 22 (Reuters) - A Chinese municipal district said it had taken back 134,500 hectares (332.4 acres) of land formerly held by a unit of debt-laden developer China Evergrande Group (3333.HK) and had made no payment for doing so. The government of Jiangxia District in the central city of Wuhan retrieved its land-use rights over the undeveloped sites at the Evergrande Technology Tourism City on November 16, according to a statement by the district's Planning and Natural Resources Bureau. China Evergrande unit Wuhan Baden City Investment Co Ltd has held the land as developer of Evergrande Technology Tourism City. A right to use land is the Chinese equivalent of ownership, since title is always ultimately held by the state. read moreThe land parcels taken back by Jiangxia comprised nine residential sites, two commercial and one for mixed development, the filing, dated Nov. 18 showed.

☆ Messi feeling fit ahead of 'special' last World Cup
▼ + stars: | 2022-11-21 | by ( Anita Kobylinska | ) www.reuters.com time to read: +2 min

The 35-year-old, who in Qatar will be playing his fifth World Cup, added that he did not prepare differently for the tournament which for the first time is being played in November and December. "It's a beautiful thing that many people outside Argentina want us to be champions and that it's largely because of me," Messi said. "I'm grateful for the love I've received around the world during my career, and here in Qatar it's another example of that. "It makes us work in a different way, without anxiety about the national team and its results, and enjoying ourselves." Argentina kick off their World Cup campaign with a Group C opener against Saudi Arabia on Tuesday and will then face Mexico and Poland.

☆ Bob Iger is back. He's the steady hand that Disney needs as CEO to get it back on track
▼ + stars: | 2022-11-21 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Iger has committed to serve two years as CEO and agreed to help the board develop his eventual replacement, according to Disney. The Club's take Iger will be the steady hand Disney needs in this critical moment. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Bob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBC

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