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But as people return to the office, Zoom needs to branch out from virtual meetings, its key feature. To adapt to a hybrid world, Zoom is ready for a radical change, an exec says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For companies like video-communication platform Zoom, the transition means a drastic change to adapt to a new world of work, says its EMEA chief Frederik Maris. In August, the company said employees living within 50 miles of a Zoom office must go in at least two days a week.
Persons: , Frederik Maris, Maris, Zoom Organizations: Service, Microsoft, Microsoft's Viva
Resumes are often integral to job applications, but as skills-based hiring is on the rise, could they become obsolete? Srdjanpav | E+ | Getty ImagesMore often than not, the first step of a job application is submitting your resume. Resumes of the futureOne thing is clear to experts: Resumes of the future will look nothing like they do now. That includes both their content and look, Dave Rizzo, talent strategy and operations leader at Deloitte told CNBC Make It. Having a "perfect" resume also no longer means as much to employers as it has done in the past, Julia Pollock, chief economist at ZipRecruiter, told CNBC Make It.
Persons: Adam Hawkins, Hawkins, Dave Rizzo, Rizzo, Julia Pollock Organizations: CNBC, LinkedIn, EMEA, LATAM, Deloitte
A delay in the new mine's ramp-up would add to the growing stresses on the zinc raw materials supply chain. Low prices have resulted in a lengthening list of mine curtailments in recent months, resulting in falling smelter treatment terms and a rising refined zinc price. London Metal Exchange three-month zinc pricePRICE CASUALTIESThe LME zinc price hit a three-year low of $2,215 per metric ton in May, triggering a string of mine closures. By the end of September analysts at Macquarie Bank had already totted up closures totalling 300,000 metric tons of annual zinc capacity. It is designed to churn out around 345,000 metric tons a year of contained zinc, making it the single largest addition to zinc mine supply in 2024.
Persons: Ilya Naymushin, Boliden, Price, it's, David Evans Organizations: REUTERS, London Metal Exchange, Metals, Aeris Resources, Macquarie Bank, Fastmarkets, Study, Thomson, Reuters Locations: Angara, Novoangars, Russia, Swedish, Ireland, Queensland, Western Australia, Portugal, Mexico, Tennessee
Biswanath Panda, vice president of monetization engineering who reported to Khajehnouri, left the company in May after just a year in the role and joined Uber. Jacob Andreou, Snap's former senior vice president of product and growth, left after working there since 2015 and then joined Greylock. Vice president of product Peter Sellis left Snap in September after eight years, taking on a similar role with Discord. Snap in June hired Eric Young as its new senior vice president of engineering, with Khajehnouri then reporting to him. In addition to Young, Darshan Kantak joined as senior vice president of revenue product, Patrick Harris joined as president of Americas, Ronan Harris joined as president of EMEA, and Ajit Mohan joined as president of APAC.
Persons: Nima Khajehnouri, Khajehnouri, Evan Spiegel, Spiegel, he's, Jeremi Gorman, Peter Naylor, Jerry Hunter, Gorman, Ben Schwerin, Biswanath Panda, Uber, Jacob Andreou, Greylock, Peter Sellis, Hunter, Eric Young, Young, Darshan Kantak, Patrick Harris, Ronan Harris, Ajit Mohan Organizations: Snap, EMEA Locations: Snapchat
REUTERS/Sergio Perez Acquire Licensing RightsLONDON, Nov 7 (Reuters) - European Union (EU) energy ministers last month struck a deal to reform the bloc's power market. German power market forwards for 2024 and 2025LIGHT-TOUCH REFORMEuropean power prices have fallen a long way from their 2022 peaks, when the region was still reeling from the reduction in Russian gas supplies. EU member states were deeply split on proposals for more fundamental reform of Europe's power market to allow for a complete break of the gas-power price linkage. The hard-won compromise keeps the existing market mechanism, which its supporters claim is more efficient than other models in a liberalised electricity market. The bloc's power prices have historically been twice those of the U.S., but are now three or four times higher.
Persons: Sergio Perez, Teresa Ribera, Bernard Respaut, Mats Gustavsson, Boliden, Gustavsson, Respaut, Jan Harvey Organizations: REUTERS, Union, Spain's Energy, Producers, European Copper Institute, EU, Alcoa, PPA, European Commission, Metals, Reuters, Thomson Locations: Alcobendas, Madrid, Spain, Ukraine, San, EU, U.S, Ireland, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices could jump ‘very quickly’ amid market volatility, JPMorgan strategist saysChristyan Malek, global head of energy strategy and head of EMEA oil and gas equity research at JPMorgan, discusses oil market volatility and the outlook for energy demand.
Persons: Christyan Malek Organizations: JPMorgan
Analysts at Bank of America unveiled a slew of stocks this week that they say are firing on all cylinders as earnings season wraps up. "SLB looks best positioned for strong earnings growth and multiple expansion with strengthening [free cash flow] in 2024-25," Pant wrote. SLB - buy rating "Current cycle is to SLB's advantages in technology & INTL. KLA Corporation - buy rating Resilient growth, best in class cash flow generation, reiterate Buy. Nextracker - buy rating Three earnings post IPO comes with three sequential beat & raise events & we believe there is room for several more.
Persons: Saurabh Pant, Pant, Julien Dumoulin, Smith, Nextracker, Vivek Arya, Arya, SLB Organizations: Bank of America, CNBC, General Dynamics, Ford, KLA Corporation, drillers, NXT, KLA Corp, Dynamics, Aero Locations: Nextracker, Pant
Backed by Japan's SoftBank, WeWork aimed to revolutionise the office market by taking long leases on large properties and renting the space to multiple smaller businesses on more flexible, shorter arrangements. Some leveraged property investors could struggle to earn enough rental income to service rising debt costs, they said. The number and volume of real estate loans due for refinancing in 2024 is unclear because many deals are struck privately between borrower and lender, Ed Daubeney, co-head, debt and structured finance, EMEA, at real estate services firm Jones Lang LaSalle, told Reuters. U.S. industrial and office real estate investment trusts (REITs) were seen 35.8% more likely to default, versus expectations a year ago. "We're at a massive turning point in the real estate investment market globally," Jose Pellicer, head of real estate strategy at M&G Real Estate, said.
Persons: Kate Munsch, Japan's SoftBank, WeWork, Jeffrey Havsy, Ed Daubeney, Jones Lang LaSalle, Savills, refinancings, What's, MSCI, Jefferies, Jose Pellicer, Sinead Cruise, Elisa Martinuzzi, Mark Potter Organizations: REUTERS, Media, Real Estate, Reuters, Analysts, Europe, Flex, BNP, G, Thomson Locations: San Francisco , California, U.S, York, New York, London, United States, Europe, Britain, Germany, California
REUTERS/Stringer/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Another month, another new record for China's primary aluminium production sector. Power availability is proving to be as effective a cap on China's aluminium production as any government mandate. Some of that production capacity has only just been powered up after a previous round of restrictions was lifted in June. And an increasingly significant one as ever more Chinese aluminium capacity migrates from north to south to lower the carbon footprint. Rainfall in Yunnan is now the key determinant of China's primary aluminium production capacity.
Persons: Stringer, John Kemp, wean, Paul Simao Organizations: REUTERS, International Aluminium Institute, China Southern Power, AZ Consulting, China Hongqiao, HK, Reuters, Thomson Locations: Zouping, Shandong province, China, Beijing, Yunnan, YUNNAN, It's, Shandong
Gen Z workers expect to change careers three times in their lives. It found that 73% of Gen Z are not afraid to take a pay cut to pursue a more fulfilling career. AdvertisementAdvertisementGen Z workers are known for their job-hopping tendencies, and a new survey has found that they expect to change their careers at least three times over their lifetimes. It found that Gen Z plans to switch careers at least three times over their working life, which is once more than any other generation before them. Gen Z are more likely to prioritize their wellbeing and happiness than other generations.
Persons: , Gen, Gen Z, X, Gen X, Kristen Buckheit, Zers, Oliver Wyman, they're, Z, doesn't, Nick Bunker, Jeff Hyman, Rockstars, they've Organizations: Resource Solutions, Service, Solutions, Boomers, Federal Reserve Bank of Atlanta, North America, Indeed's, New York Times Locations: Millennials, Chicago
Backed by Japan's SoftBank, WeWork aimed to revolutionise the office market by taking long leases on large properties and renting the space to multiple smaller businesses on more flexible, shorter arrangements. Some leveraged property investors could struggle to earn enough rental income to service rising debt costs, they said. The number and volume of real estate loans due for refinancing in 2024 is unclear because many deals are struck privately between borrower and lender, Ed Daubeney, co-head, debt and structured finance, EMEA, at real estate services firm Jones Lang LaSalle, told Reuters. U.S. industrial and office real estate investment trusts (REITs) were seen 35.8% more likely to default, versus expectations a year ago. "We're at a massive turning point in the real estate investment market globally," Jose Pellicer, head of real estate strategy at M&G Real Estate, said.
Persons: Kate Munsch, Japan's SoftBank, WeWork, Jeffrey Havsy, Ed Daubeney, Jones Lang LaSalle, Savills, refinancings, What's, MSCI, Jefferies, Jose Pellicer, Sinead Cruise, Elisa Martinuzzi, Mark Potter Organizations: REUTERS, Media, Real Estate, Reuters, Analysts, Europe, Flex, BNP, G, Thomson Locations: San Francisco , California, U.S, York, New York, London, United States, Europe, Britain, Germany, California
Antara Foto/Jojon/via REUTERS Acquire Licensing RightsLONDON, Nov 1 (Reuters) - The bears are out in force on the London Metal Exchange (LME) nickel market. The global nickel market is entering a period of massive oversupply thanks to an Indonesian production boom. INSG assessed monthly nickel supply-demand balanceBIG SURPLUSThe big short is a bet on a big surplus. The global nickel market moved into supply-demand surplus in May last year and has been there ever since, according to the International Nickel Study Group. The exact timing of that tipping-point is still unknown, which means the big short is still a big bet that the supply chain can close the nickel product gap sooner rather than later.
Persons: Antara, aren't, it's, It's, Kirsten Donovan Organizations: PT Vale Indonesia, REUTERS Acquire, London Metal Exchange, Fund, Investment, Study, EV, Shanghai Futures, GAP Indonesia, Jingmen, New Energy Science, Reuters, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Indonesian, London
That made the horrendous downward revision delivered by Estee Lauder's management team extremely disappointing. Estee Lauder did offer up a new "Profit Recovery Plan," but the impact is not expected to kick in until fiscal years 2025 and 2026. Organic sales are expected to decline 10% to 8%, below the 3.6% estimate. Profit recovery plan Management attempted to mitigate investor frustration by announced a turnaround strategy. Quarterly commentary Skin care — Estee Lauder's highest-margin category — remained under pressure, primarily due to ongoing efforts to reduce and rebalance inventory levels in the Asia travel retail business.
Persons: Estee Lauder, Estee, Fabrizio Freda, we've, Tom Ford, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, Outlook Management, Management, CNBC, daimaru, Getty Locations: China, Israel, Asia, Americas, Pacific, Europe, East, Africa, North America, United States, America, Mexico, Brazil, Nanjing, Shanghai
Oct 31 (Reuters) - Telecommunications services firm Lumen Technologies (LUMN.N) beat Wall Street estimates for third-quarter revenue on Tuesday, helped by strong demand for its services as businesses digitize their operations. The Monroe, Louisiana-based company posted revenue of $3.64 billion for the quarter ended Sept. 30, beating analysts' average estimate of $3.61 billion, according to LSEG data, but fell 17% from a year earlier. The proposed sale of Lumen's EMEA business is expected to close on Wednesday, subject to meeting customary closing conditions, the company said. The company said its long-term debt at the end of the third-quarter was $19.74 billion. Lumen posted a net loss of $78 million for the quarter compared with a reported net income of $578 million a year earlier.
Persons: Lumen, Kate Johnson, Johnson, Jaspreet Singh, Krishna Chandra Organizations: Telecommunications, Lumen Technologies, EMEA, California's Department of Technology, Thomson Locations: Monroe , Louisiana, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Treasury market is still there to inflict some pain,' strategist saysGeoffrey Yu, director of EMEA market strategy at BNY Mellon, discusses what could lie ahead for equity and bond markets, along with the investing outlook across regions.
Persons: Geoffrey Yu Organizations: Treasury, BNY Mellon
REUTERS/Claro Cortes/File Photo Acquire Licensing RightsLONDON, Oct 30 (Reuters) - China's imports of tin concentrates collapsed in September, reflecting the suspension of mining activity in the semi-autonomous Wa state in neighbouring Myanmar. China's imports of tin concentrates from Myanmar and other sourcesIMPORT SLUMPChina imported 7,300 metric tons of tin concentrates in September, which was the lowest monthly count since February 2019. Imports from Myanmar slumped to just 1,421 metric tons after a mini surge over July and August ahead of the mining ban. The Myanmar ban has to date had little impact on either China's production of refined tin or the tin price. The boom in tin usage for home electronics during lockdown in 2020-2021 has given way to a prolonged downturn.
Persons: Claro, that's, Jan Harvey Organizations: REUTERS, United Wa State Army, Democratic, London Metal Exchange, International Tin Association, Reuters, Thomson Locations: Shanghai, Claro Cortes, Wa, Myanmar, China, Tanintharyi, Democratic Republic of Congo, Bolivia, Brazil, Russia
REUTERS/Ilya Naymushin - S1AETWEXAZAA Acquire Licensing RightsLONDON, Oct 27 (Reuters) - China's exports of refined lead hit a 15-month high in September with year-to-date shipments already exceeding last year's total. China's net trade in refined leadEXPORTS ACCELERATEChina exported 35,400 metric tons of refined lead in September, which was the highest monthly tally since June of last year. LME lead three-month price, cash-3s spread and stocksLME STOCKS REBUILDThe relocation of stocks from China to the West has seen LME stocks rebuild from their depleted year-start levels. Headline stocks of 125,225 metric tons are up by 100,075 metric tons on January and are the highest they've been in almost three years. The LME stocks rebuild has been driven by repeated bouts of tightness across the front part of the forward curve in recent months.
Persons: Ilya Naymushin, Sharon Singleton Organizations: REUTERS, London Metal Exchange, Shanghai Futures Exchange, Shanghai, Reuters, Thomson Locations: Novoangarsk, Russia, China, Shanghai, Europe, Stolberg, Germany, Taiwan, South Korea, Thursday's, London
Asia helps Moncler sales to meet forecasts in third quarter
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +1 min
[1/3] Moncler logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMILAN, Oct 26 (Reuters) - Sales at Italian luxury group Moncler (MONC.MI) rose 7% at constant exchange rates in the third quarter, meeting analyst expectations, thanks to growth in Asia and despite a decline in the Americas. Total sales reached 670 million euros ($705 million) in the July-September period, matching an analyst consensus provided by the company. The Moncler brand, which generates the largest part of group revenues, saw sales rise 9% at constant exchange rates, to 561 million euros, boosted by 22% growth in Asia. In the EMEA region, Moncler brand revenues grew 6% at constant exchange rates, "due to a normalisation in local consumption and a slower recovery of tourism flows compared to the first part of the year", the company said in a statement.
Persons: Dado Ruvic, Luciano Santel, Elisa Anzolin, Alvise Armellini, Keith Weir Organizations: REUTERS, Corporate, Thomson Locations: Asia, Americas
A worker stores aluminium ingots at the foundry shop of the Rusal Krasnoyarsk aluminium smelter in Krasnoyarsk, Russia October 3, 2018. China, meanwhile, is emerging as an increasingly important market for Rusal's finished products as Western appetite for Russian metal shrinks. China shipped over a million metric tons of alumina in 2022, of which 843,000 metric tons went to Russia. China's imports of primary aluminium vs Russian-brand metalCHINA IMPORTS MORE RUSSIAN METALWhile Chinese alumina has been flowing to Russia, increasing quantities of Russian aluminium have also been entering China. But the world's largest producer is now operating close to a government-mandated capacity cap of 45 million metric tons.
Persons: Ilya Naymushin, Rusal, China wouldn't, Tomasz Janowski Organizations: REUTERS, Rusal's, GAP, London Metal Exchange, Reuters, Thomson Locations: Krasnoyarsk, Russia, Hebei Wenfeng, Queensland, Australia, China, Ukraine, Russian, mushrooming, CHINA, Volgograd, Novokuznetsk, Siberia, Yunnan
REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Oct 23 (Reuters) - China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. There is much potential for further escalation in this unfolding critical minerals battle between China and the West. Previous restrictions on lower-grade graphite exports destined for the steel and lubricants sectors have been rescinded. The world's graphite supply chain could well be in for a similar short-term shock. Western governments are still evaluating their response, waiting like the rest of us to see how China's graphite volumes play out in the coming months.
Persons: Fabian Bimmer, Wei Jianguo, Wei, Biden, Obama, Trump, Adam Hodge, China's Wei, David Evans Organizations: Volkswagen, REUTERS, Commerce, U.S, Chips, Benchmark Minerals, U.S . Department, Department of Defense, EV, World Trade Organization, European Union, WTO, Thomson, Reuters Locations: Salzgitter, Germany, China, U.S, Alaska, Australia, Japan
In this article IHG-GBIHG Follow your favorite stocks CREATE FREE ACCOUNTPent-up travel demand — which drove global travel recovery following the Covid-19 pandemic — is over, said Intercontinental Hotels Group CEO Elie Maalouf. "So we're really past revenge travel — even in China." The company's latest quarterly update showed travel demand remained strong during the close of the summer travel season. Elie Maalouf CEO of Intercontinental Hotels GroupThe company currently operates more than 6,200 hotels worldwide and has another 1,978 in the pipeline. "In the United States, there are about 9,000 hotels that we think are interested in joining a system.
Persons: Elie Maalouf, Maalouf, We're, , it's, IHG, Garner Organizations: Intercontinental Hotels, CNBC, Hotels, Resorts, Dubai —, Holiday Locations: China, Greater China, Beijing, Shanghai, Guangzhou, Shenzhen, Americas, Europe, Middle East, Africa, Asia, , Spanish, Dubai, ., Southeast Asia, Central Asia, United States
Pro Take: Making Medicines Greener
  + stars: | 2023-10-19 | by ( Cecilia Butini | ) www.wsj.com   time to read: +6 min
Photo: mohamed hossam/ShutterstockMaking and supplying medicines generates roughly a third of the global healthcare industry’s greenhouse-gas emissions. Photo: Carlos Jasso/Bloomberg NewsBritish drugmaker GSK , for instance, plans to run on 100% renewable electricity by 2025 and to reach net-zero emissions across its value chain by 2045. GSK partnered with AstraZeneca , Merck KGaA, Novo Nordisk , Roche Holding , Samsung Biologics and Sanofi to form the SMI Health Systems Task Force in 2021. Last year, the partnership decided to strengthen their collaboration by focusing on cutting emissions in the near term and transitioning faster toward net-zero health systems. Novartis aims to achieve net-zero emissions across its value chain by 2040.
Persons: mohamed hossam, Carlos Jasso, “ We’ve, , Mike Peirce, Aurelio Arias, Arias, Claire Lund, Sanofi, Annabelle Harreguy, IQVIA’s Arias, “ It’s, ” Arias, Cecilia Butini Organizations: Pharmaceutical, Pharma, GSK, Bloomberg News British, Climate Group, Climate, Business, Sustainable Markets, Health Systems, Force, AstraZeneca, Merck KGaA, Novo Nordisk, Roche Holding, Samsung Biologics, Sanofi, SMI, Systems, Novartis, World Health Organization, cecilia.butini@wsj.com Locations: GSK’s, China, India, Novo
EssilorLuxottica sees 'slight deceleration' in Q3 vs first half
  + stars: | 2023-10-19 | by ( ) www.reuters.com   time to read: +1 min
A logo of EssilorLuxottica exhibition space is displayed at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 19 (Reuters) - Luxury eyewear maker EssilorLuxottica (ESLX.PA) on Thursday reported third-quarter revenue of 6.3 billion euros ($6.68 billion) with Asia-Pacific sales growth of 11.75% bolstered by China. Shares of luxury goods companies have come under pressure as cash-strapped consumers cut spending on high-end goods, while growth has also been slowing in China. French luxury company LVMH (LVMH.PA) last week reported slower sales growth in the third quarter. EssilorLuxottica reiterated its 2023 target of "mid-single-digit annual revenue growth" from 2022 to 2026 and an operating profit representing 19% to 20% of revenue by the end of that period.
Persons: Benoit Tessier, Ray, Bernstein, EssilorLuxottica, Stéphanie Hamel, Olivier Sorgho, Jane Merriman Organizations: REUTERS, Thomson Locations: Villepinte, Paris, France, Asia, Pacific, China, North America
Video calls are broadly considered proxies for face-to-face meetings and therefore are currently subject to little or no formal record-keeping obligations. At least two major global banks are now recording Zoom calls, said sources with knowledge of the matter, who declined to be named because the information is not public. One bank is recording Zoom calls undertaken by certain staff, including traders, while the other is recording all Zoom calls so content can be reviewed later if needed. FINRA declined to comment on how many firms were subject to the rule or whether the rule also extended to video calls. Video calls pose "unique risks" and technology needed to efficiently screen video calls is not widely used, said Matt Smith, CEO of communications surveillance firm SteelEye.
Persons: Dado Ruvic, Brad Levy, Morgan, Goldman Sachs, Matthew Nunan, Gibson, Dunn, Morgan Stanley, Sarah Pritchard, Claire Garrett, Michael Watling, Seward, FINRA, Matt Smith, Ryan, Yonk, Symphony's Levy, Chris Prentice, Michelle Price, Huw Jones, Sharon Singleton Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Finance, Reuters, U.S, EMEA, Microsoft, Britain's, Authority, HSBC, Bloomberg, U.S . Financial Industry Regulatory Authority, Employees, American Institute for Economic Research, Washington D.C, Thomson Locations: Marsh, U.S, New York, Washington, London
Zinc's relative under-performance is down to a build-up of excess metal as the global market shifts from supply shortfall to widening surplus. It now thinks zinc supply will exceed usage by a hefty 248,000 tonnes with the surplus growing to 367,000 in 2024. Zinc market balance forecasts by the ILZSGSHIFT TO SURPLUSThe zinc market's shift to surplus after two years of supply deficit is down to weaker-than-expected demand and higher-than-expected production. European demand is expected to contract by 1.8% this year due to slowing activity in the construction sector, which accounts for around half of zinc demand in the form of galvanised steel. LME zinc price, stocks and cash-3s spreadNOW YOU SEE IT...
Persons: LME, Barbara Lewis Organizations: Reuters, REUTERS, OZ Minerals, London Metal Exchange, Citi, Thomson Locations: Lawn Hill, Queensland, Europe, China, New Orleans, United States, Singapore, Malaysia's Port Klang
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