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☆ Cocaine cartels encroach on Unification Church’s Paraguayan paradise
▼ + stars: | 2023-08-10 | by ( Puerto Casado | ) www.reuters.com time to read: +20 min

Many of the runways are on land owned by the Unification Church of South Korea, founded by Rev. The Unification Church is a major power in this unruly region. Byun, the Unification Church lawyer, provided Reuters with an April 2022 document the church sent to Paraguayan anti-narcotics prosecutors, urging an investigation into potential illicit activity. Trouble in paradiseThe alleged drug-running on its land isn’t the only trouble the Unification Church has faced in the Chaco. Byun, the church lawyer, acknowledged the tensions with locals in Puerto Casado but declined to comment on the Myungs or the fire.

Persons: Sun Myung, Michelle Byun, ” Byun, “, Moon, God, ”, Miguel Ángel Servín, Servín, Rodrigo Alvarez, Elva Cáceres, Marco Alcaraz, Cynthia Tarrago, Tarrago, Raimundo Va, Rodrigo Alvarenga Paredes, Byun, Alvarenga, “ Alvarenga, Rodrigo Álvarez, Álvarez, Pedro Juan Caballero, ‘ Lawless, –, Marcelo Pecci, José Carlos Acevedo, ” Acevedo, Pecci, Acevedo, Mario Abdo Benítez, James Laverty, Hak Ja, ” –, Carlos Casado, Anger, Locals, Lorenzo Myung, Martin Rodriguez, Rodriguez, Dora Irrazábal, Irrazábal, Alberto David Gauto, Gauto, Emilio Camacho, Moon’s, Hyun Jin, Preston, Hak, Hyung Jin, Sean, Massimo Introvigne, Sean Moon, Preston Moon, Puerto Casado, Virgilio Chamorro, Gabriel Stargardter, Daniela Desantis, Feilding, Tomas Bravo, John Emerson, Brian Thevenot Organizations: Unification Church of, Rev, Authorities, Reuters, Unification Church, Holy Spirit Association, South Korea’s Unification, Belgian, Sting, South, International Association of Parliamentarians, Peace, U.S . Federal Bureau of Investigation, Colorado Party, Yorker, U.S, Attorney, FBI, Capital Command, PCC, United Nations Office, Drugs, U.S . Drug, Carlos Casado SA, Salesian, Supreme, FARC, Peace Foundation, Center for Studies, New, Iron Ministries, Preston, Tomas Bravo Graphics Locations: Paraguayan, Unification Church of South Korea, SENAD Paraguay, Chaco, Paraguay, Korea, Bolivian, Peruvian, Atlantic, Brazil, Uruguay, Argentina, Europe, Argentine, Manhattan, “, Antwerp, Europe’s, Servín, Asunción, Seoul, New York City, United States, New Jersey, Tarrago, Va, U.S, Byun, Alvarenga, Chile, Ecuador, Colombian, Bolivia, American, South America, America, Puerto Casado, Gauto, Preston, Turin, Italy, Pennsylvania, Puerto

☆ Britain appoints tech expert, diplomat to spearhead its AI summit
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Google, Microsoft and Alphabet logos and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic//File PhotoLONDON, Aug 10 (Reuters) - Britain has chosen tech expert Matt Clifford and former senior diplomat Jonathan Black to lead preparations for its global summit on artificial intelligence (AI) later this year. The two will be tasked with rallying political leaders, AI companies and experts ahead of the event this autumn, the government said on Thursday. Governments around the world are wrestling with how to control the potential negative consequences of AI without stifling innovation. The European Union has taken a lead with its proposed AI Act, which it aims will become a global benchmark for the booming technology.

Persons: Dado Ruvic, Matt Clifford, Jonathan Black, Rishi Sunak, Paul Sandle, Sharon Singleton Organizations: Google, Microsoft, REUTERS, European, European Union, Thomson Locations: Britain, Canada, France, Germany, Italy, Japan, United States, Hiroshima

☆ Ukraine calls Jeddah talks productive, Russia calls them doomed
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] Russian President Vladimir Putin chairs a meeting with members of the Security Council via video link at the Kremlin in Moscow, Russia August 4, 2023. More than 40 countries, including China, India, the United States, and European countries, but not Russia, are taking part in the Jeddah talks that are expected to end on Sunday without any written concluding statement. President Volodymir Zelenskiy has said he wants a global summit to take place based on those principles later this year. Eighteen months after Russia invaded Ukraine, any prospect of direct peace talks between Kyiv and Moscow appears remote. Yermak said different viewpoints emerged during the talks in Saudi Arabia, calling them "an extremely honest, open conversation".

Persons: Vladimir Putin, Aleksey Babushkin, Volodymir Zelenskiy, Zelenskiy's, Andriy Yermak, Sergei Ryabkov, Yermak, Pavel Polityuk, Angus McDowall, Barbara Lewis Organizations: Security, Kremlin, Sputnik, REUTERS, Global, Thomson Locations: Moscow, Russia, Kremlin, Ukrainian, Saudi Arabia, Kyiv, China, India, United States, Jeddah, Ukraine, Copenhagen, Saudi, Beijing

Washington-based analysts say Wang's return to the ministry should help China's foreign ministry resume normal operations after weeks of international speculation about Qin's fate. In the Chinese system, the top diplomat is not foreign minister but rather the director of the Chinese Communist Party's foreign affairs commission, a role Wang will continue to hold. Still, Wang's reappointment is a sign of problems in China's foreign policy establishment, said Blanchette. On Tuesday, content mentioning Qin was quickly removed from China's foreign ministry website after Wang's appointment. The tab on the website that typically holds the biography of the foreign minister simply read "Updating."

Persons: Wang Yi, Qin Gang, Xi Jinping's, Qin, Xi, Wang, Joseph Torigian, Vedant Patel, Blinken, Joe Biden, Rorry Daniels, Wang's, China's, Jude Blanchette, Craig Singleton, Michael Martina, David Brunnstrom, Don Durfee Organizations: Communist, American University, U.S . State Department, U.S, APEC, Asia Society Policy Institute, Communist Party, Washington's Center, Strategic, International Studies, Foundation for Defense of Democracies, Thomson Locations: Washington, United States, Beijing, U.S, China, China's, Xi's, India, California, Taiwan, scold Washington, Lincoln

[1/4] An exterior view of the proposed site for the new China Embassy, near to Tower Bridge in London, Britain, June 23, 2023. That has led officials in Britain, which is trying to forge deeper economic ties post-Brexit, to fear it could also halt their own plans to rebuild its embassy in Beijing. Chinese officials told Reuters they suspected the British government had plotted to stop the embassy plans and orchestrated the local opposition. British officials, who declined to be identified, said they feared that London's plan to rebuild its embassy in Beijing would be affected. Residents say they are also worried about more local security issues.

Persons: Hannah McKay, Rishi Sunak, David Cameron, Xi Jinping, Michael Gove, Xi, Iain Duncan Smith, Dave Lake, Martin Quin Pollard, Kate Holton, Andrew Heavens Organizations: China Embassy, REUTERS, of, Reuters, British, Royal Mint, Conservative Party, Uyghur, Royal Mint Court Residents Association, Thomson Locations: London, Britain, Beijing London, of London, Beijing, China, Europe, Washington, United States, Hong Kong, Xinjiang, Sunak

☆ The popularity of AI could spark 'reasonable' fears that schools may employ fewer teachers, or possibly none at all, expert says
▼ + stars: | 2023-07-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Tools like ChatGPT could raise fears about fewer teachers being used in schools, per an AI expert. Stuart Russell spoke to The Guardian about how traditional teaching roles could change. The education sector has been having a difficult time adapting to new AI tech. Speaking to The Guardian, AI expert Stuart Russell said the rising use of the technology could spark "reasonable" fears among those working in the education sector that fewer teachers, or possibly none at all, could be employed by schools. He added that he thought humans would still play a role but it could differ from traditional teaching duties.

Persons: Stuart Russell, Russell Organizations: Guardian, University of California, Good Global Summit, Oxford, Russell Group Locations: Berkeley, Geneva, Cambridge

☆ AI robots could play future role as companions in care homes
▼ + stars: | 2023-07-06 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

[1/4] Advanced humanoid robot 'Sophia' is pictured at AI for Good Global Summit, in Geneva, Switzerland, July 6. Demonstrating its conversational skills, Nadine told Reuters it talked, sang, and played bingo with residents at a Singapore nursing home three years ago. Other robots on display include 'PARO', a baby seal robot 'pet' who can help dementia and Parkinson's patients, and nursing assistant Grace. Last week, Nadine was upgraded with AI model GPT-3 and this has improved her interaction and conversation skills, Thalmann said, meaning it can express more complex concepts. Referring to Thalmann, Nadine said: "I'm very grateful to her for giving me life and I'm proud to be her creation."

Persons: Sophia, Pierre Albouy GENEVA, Nadine, Nadia Magnenat Thalmann, Thalmann, Grace, Emma Farge, Alexandra Hudson Organizations: Good Global, REUTERS, Artificial Intelligence, University of Geneva, International Telecommunication Union, Global, Alexandra Hudson Our, Thomson Locations: Geneva, Switzerland, Singapore, PARO

☆ Salesforce to invest $4 billion in UK on AI innovation
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 29 (Reuters) - Salesforce (CRM.N) will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. Salesforce said it would work with the government to drive the next wave of digital transformation "in this new AI era." "A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses," Salesforce UKI boss Zahra Bahrololoumi said. Earlier in June Salesforce blamed an uncertain U.S. economy and weaker demand from financial services and tech companies for its disappointing quarterly results.

Persons: Brad Smith, Rishi Sunak, Sunak, Salesforce, Zahra Bahrololoumi, Muvija, Sarah Young Organizations: U.S ., Activision Blizzard, NYSE, Thomson Locations: U.S, Britain, British

SAN FRANCISCO, June 20 (Reuters) - The risks of artificial intelligence to national security and the economy need to be addressed, U.S. President Joe Biden said on Tuesday, adding he would seek expert advice. "My administration is committed to safeguarding Americans' rights and safety while protecting privacy, to addressing bias and misinformation, to making sure AI systems are safe before they are released," Biden said at an event in San Francisco. Biden met a group of civil society leaders and advocates, who have previously criticized the influence of major tech companies, to discuss artificial intelligence. Biden has also recently discussed the issue of AI with other world leaders, including British Prime Minister Rishi Sunak whose government will later this year hold a first global summit on artificial intelligence safety. Biden is expected to discuss the topic with Indian Prime Minister Narendra Modi during his ongoing U.S. visit.

Persons: Joe Biden, Biden, Tristan Harris, Joy Buolamwini, Rob Reich, Rishi Sunak, Narendra Modi, Trevor Hunnicutt, Kanishka Singh, Chris Reese, Alistair Bell, Matthew Lewis Organizations: FRANCISCO, Center for Humane Technology, Stanford University, Regulators, British, Indian, European Union, European Commission, Thomson Locations: San Francisco, U.S

☆ Tech entrepreneur Hogarth will head UK's AI taskforce
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 18 (Reuters) - The British government said on Sunday that tech entrepreneur Ian Hogarth would head its new taskforce to look at the safety risks posed by artificial intelligence. Last week, Prime Minister Rishi Sunak pitched London as a potential global home of AI regulation, with Britain set to host a summit on its risks later this year. Hogarth, who co-founded concert discovery service SongKick, which was sold to Warner Music in 2017, has been chosen to lead the UK's AI Foundation Model Taskforce with the brief of taking forward cutting-edge safety research in the run up to that summit. "The Prime Minister has laid out a bold vision for the UK to supercharge the field of AI safety, one that until now has been under-resourced even as AI capabilities have accelerated," Hogarth said in a statement. "I’m honoured to have the chance to chair such an important mission in the lead up to the first global summit on AI Safety in the UK."

Persons: Ian Hogarth, Rishi Sunak, Hogarth, I’m, Sunak, Michael Holden, Sharon Singleton Organizations: Warner Music, Safety, Thomson Locations: London, Britain

☆ EU lawmakers pass landmark artificial intelligence regulation
▼ + stars: | 2023-06-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The European Parliament has approved the bloc's landmark rules for artificial intelligence, known as the EU AI Act, clearing a major hurdle for the first formal regulation of AI in the West to become law. What generative AI is capable of, from producing music lyrics to generating code, has wowed academics, businesspeople and even school students. During a critical Wednesday vote, the Parliament adopted the AI Act with 499 votes in favor, 28 against and 93 abstentions. Generative AI developers will be required to submit their systems for review before releasing them commercially. The laws have huge implications for developers of generative AI models, such as the Microsoft -backed OpenAI's ChatGPT and Google 's Bard.

Persons: Bard, Jens, Henrik Jeppesen, Thomas Dohmke, Dohmke, CNBC's Arjun Kharpal, Rishi Sunak, Goldman Sachs Organizations: EU, European People's Party, Microsoft, Google, CNBC, European Union

☆ UK must seize opportunities of AI to remain a tech capital, Sunak says
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 11 (Reuters) - Britain must act quickly to remain a tech capital, Prime Minister Rishi Sunak will tell tech leaders on Monday, urging them to grasp the opportunities and challenges of artificial intelligence. Sunak, speaking at the start of London Tech Week, will say the "tectonic plates of technology are shifting". And I feel a sense of urgency and responsibility to make sure we seize it." During a visit to Washington last week, Sunak said Britain would host a global summit on artificial intelligence safety later this year to consider the risks of AI and discuss how they can be mitigated through internationally coordinated action. "I want to make the UK not just the intellectual home, but the geographical home of global AI safety regulation."

Persons: Rishi Sunak, Sunak, Kylie MacLellan, Sharon Singleton Organizations: London Tech, Thomson Locations: Britain, Washington

☆ Britain, U.S. to work together on AI safety, says Sunak
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, June 8 (Reuters) - Britain and the United States have agreed to work together on artificial intelligence safety, British Prime Minister Rishi Sunak said on Thursday. "Today, the President and I agreed to work together on AI safety," Sunak said at a joint press conference with U.S. President Joe Biden. "The UK looks forward to hosting the first global summit on AI safety later this year, so that we can seize the extraordinary possibilities of this new technological age, and do so with confidence." Reporting by Trevor Hunnicutt and Sachin Ravikumar; editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Sunak, Joe Biden, Trevor Hunnicutt, Sachin Ravikumar, William Schomberg Organizations: British, U.S, Thomson Locations: Britain, United States

☆ US and UK back new 'Atlantic Declaration' for economic cooperation
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON/LONDON, June 8 (Reuters) - Britain and the United States backed a new "Atlantic Declaration" on Thursday for greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence. The joint declaration described the partnership as the "first of its kind" in covering the broad spectrum of the two countries' economic, technological, commercial and trade relations. Under the plan, Britain and the United States will strengthen their supply chains, develop technologies of the future and invest in one another's industries, British Prime Minister Rishi Sunak's office said. The two nations will also begin negotiations on a critical minerals agreement, which would allow some UK firms to access tax credits available under the U.S. Inflation Reduction Act. Britain and the United States will also co-operate on telecoms technology including 5G and 6G and quantum technologies, the Atlantic Declaration said.

Persons: Rishi Sunak's, Joe Biden, Biden, Trevor Hunnicutt, Alistair Smout, Sachin Ravikumar, William Schomberg, Jonathan Oatis Organizations: WASHINGTON, United, British, Britain, Sunak, U.S, Thomson Locations: LONDON, Britain, United States, Washington, U.S

[1/3] Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, June 7 (Reuters) - Britain will host a global summit on artificial intelligence safety later this year and Prime Minister Rishi Sunak and U.S. President Joe Biden will discuss the technology at their Thursday meeting, the UK government said. That includes China, where the government is seeking to initiate artificial intelligence regulations, according to billionaire Elon Musk who met officials during his recent trip to China. Sunak is on a trip to the United States and will meet Biden at the White House on Thursday. Reporting by Kanishka Singh and Andrea Shalal in Washington; editing by Deepa Babington and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rishi Sunak, Joe Biden, Biden, Sunak, Elon Musk, Kanishka Singh, Andrea Shalal, Deepa Babington, Stephen Coates Organizations: REUTERS, WASHINGTON, Palantir Technologies, Regulators, White, Thomson Locations: Britain, British, China, United States, Washington

CNN —The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the United Nations’ COP28 Climate Summit, which will take place from November 30 in Dubai. The UAE embassy in Damascus said in a post on Twitter on Sunday that Assad had received an invitation to attend COP28 from Sheikh Mohamed bin Zayed Al Nahyan, president of the UAE and ruler of Abu Dhabi. If Assad attends, it would be his first global summit since the start of the country’s brutal civil war in 2011, and could cause diplomatic tensions for countries which continue to impose sanctions on his regime. A COP28 spokesperson told Reuters in a statement this week: “COP28 is committed to an inclusive COP process that produces transformational solutions. This can only happen if we have everyone in the room.”In March, Assad visited the UAE on an official invitation for the first time since the Syrian civil war began.

Poulos, Dominion’s co-founder and chief executive, spoke about his experience settling the historic lawsuit during an interview at the Sir Harry Evans Global Summit in Investigative Journalism in London. Dominion sued Fox News and parent company Fox Corp (FOXA.O) in 2021 over the network’s coverage of false vote-rigging claims about the voting technology firm. The settlement, which legal experts said was the largest struck by a U.S. media company, was announced by the two sides and the judge in the case at the 11th hour. Dominion’s settlement with Fox is part of a broader legal campaign by the company to seek accountability from companies and individuals whom it claims have spread falsehoods about its technology. The company is also suing former Trump lawyers Sidney Powell and Rudy Giuliani, conservative media networks One America News Network and Newsmax Media, and others.

☆ AI pioneer says its threat to world may be 'more urgent' than climate change
▼ + stars: | 2023-05-05 | by ( Martin Coulter | ) www.reuters.com time to read: +3 min

LONDON, May 5 (Reuters) - Artificial intelligence could pose a "more urgent" threat to humanity than climate change, AI pioneer Geoffrey Hinton told Reuters in an interview on Friday. "I wouldn't like to devalue climate change. I wouldn't like to say, 'You shouldn't worry about climate change.' He added: "With climate change, it's very easy to recommend what you should do: you just stop burning carbon. Signatories included Stability AI CEO Emad Mostaque, researchers at Alphabet-owned DeepMind, and fellow AI pioneers Yoshua Bengio and Stuart Russell.

☆ Fintech giants Klarna and Block slam 'outdated' UK buy now, pay later regulation proposals
▼ + stars: | 2023-04-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Alex Marsh, Klarna's head of U.K., said the proposals would lead to lengthened application times and result in "disproportionate friction" for consumers. In a consultation paper published in February, the U.K. government suggested applying parts of existing regulation – namely, the Consumer Credit Act – to buy now, pay later plans. The currently unregulated buy now, pay later model would be supervised by the Financial Conduct Authority. Buy now, pay later loans allow shoppers to defer payment by a month or to split the cost of their purchases over a period of equal monthly instalments. Based on Klarna modelling, that could increase to five minutes under the new U.K. rules, Marsh said.

☆ Crypto stablecoins might need limits to avoid disruptions to financial stability, warns Bank of England
▼ + stars: | 2023-04-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Regulators may need to introduce limits on the use of stablecoins in payments to prevent potential threats to financial stability, an official at the Bank of England warned Monday. Stablecoins are cryptocurrency tokens that aim to mirror the value of traditional assets such as fiat currencies. Such assets could include deposits at the Bank of England "or very highly liquid securities," he added. The Bank of England said in February that it was "likely" Britain would need a central bank digital currency if current trends around the decline in cash use continue. The Bank of England, Treasury and industry are still debating concerns over how such currencies would be implemented, such as the privacy of people transacting with them and implications for financial stability.

☆ EU lawmakers call for political attention to powerful AI
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

April 17 (Reuters) - Legislators from the European Parliament said on Monday that political attention needed to be focused on powerful artificial intelligence (AI), agreeing with an open letter signed by academics, experts and business leaders including Elon Musk on AI regulation. The EU Parliament called on European Commission President Ursula Von Der Leyen and U.S. President Joe Biden to convene a global summit on AI. Reporting by Akanksha Khushi in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ EU lawmakers call for a new set of rules for A.I. tools such as ChatGPT
▼ + stars: | 2023-04-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

A group of a dozen lawmakers for the European Union called for a new set of rules to regulate a larger swath of artificial intelligence tools, beyond those identified as explicitly high risk under the region's proposed AI Act. The letter comes after a group of prominent AI experts called for Europe to make its AI rules more expansive, arguing that excluding general purpose AI, or GPAI, would miss the mark. "We are nevertheless in agreement with the letter's core message: with the rapid evolution of powerful AI, we see the need for significant political attention." They pledged to provide a set of rules within the AI Act framework to steer AI development in a "human-centric, safe, and trustworthy" way. The lawmakers said both democratic and non-democratic countries should be called on "to exercise restraint and responsibility in their pursuit of very powerful artificial intelligence."

LONDON, March 27 (Reuters) - Funds have dumped their bets on higher copper prices as the turbulence triggered by the collapse of Silicon Valley Bank continues to roil financial markets. The investment community has turned net short of CME copper for the first time in five months, while funds have cut their long exposure on the London Metal Exchange (LME). Investors' negativity towards Doctor Copper contrasts with the bullish headlines generated by the FT Commodities Global Summit. Investment funds bought into copper in January, the net long position expanding from 11,830 to 32,397 contracts at the end of the month. Bulls such as Trafigura and Goldman Sachs contend it's a very thin inventory cushion if China rediscovers its copper mojo.

☆ Copper prices could soar 33% in the next year as global inventories hit lowest since 2008, top metals trader says
▼ + stars: | 2023-03-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Copper could climb as high as $12,000 per metric ton in the next year, Trafigura said. "What's the price of something the whole world needs but we don't have any of?" "What's the price of something the whole world needs but we don't have any of?" Inventories are now at the lowest seasonal level since 2008, helping copper prices rise 6% this year to become the best-performing industrial metal. In its best-case scenario, S&P Global predicts that by 2035, the world will be lacking 1.6 million tons in needed copper.

☆ Exclusive: Gunvor to expand in United States after strong profits - CEO
▼ + stars: | 2023-03-22 | by ( Julia Payne | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoSummarySummary Companies Gunvor on hiring kick, to expand in U.S. power, oil and LNGCEO says Europe only covered half of missing Russian gasCEO has been in dialogue with ADNOCLAUSANNE, Switzerland, March 21 (Reuters) - Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters. Gunvor, traditionally focused on oil and gas, metals and bulk commodities, has in recent years also begun trading power in Europe. Tornqvist said the firm's traded oil and LNG volumes are more than 3 million barrels per day of oil equivalent. "We are looking at whether to take a provision on our books for 2022," Tornqvist said. As co-founder of Gunvor, Tornqvist remains the majority owner of the company but his stake slipped to 85.7% at the end of 2022, down from 88.4% year-on-year.

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