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BRUSSELS Dec 15 (Reuters) - Francesco Giorgi, the partner of ousted European Parliament vice-president Eva Kaili, has confessed his role in a Qatar graft scandal, two sources with direct knowledge of the matter told Reuters. Giorgi's confession to taking bribes from Qatar to influence European Parliament decisions on Qatar had made "a significant contribution" to the probe underway by Belgian investigating magistrates, one of the sources said. Greek MEP Kaili, who was ousted from her role as vice president of the European Parliament on Monday, has denied any wrongdoing through her lawyer. Tarabella, who had previously confirmed that his home was searched on Saturday as part of the Belgian investigation, has denied any wrongdoing. The European Parliament on Thursday suspended all work on legislation linked to Qatar, and parliament's president, Roberta Metsola, told EU leaders she would lead reforms to prevent a repeat of a criminal corruption scandal.

☆ Warner Bros Discovery expects $1 bln more in scrapped content charges
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Warner Bros Discovery Inc (WBD.O) on Wednesday raised its expectations of costs related to content write-offs by $1 billion and said the charges could now reach up to $3.5 billion. For the media company, formed earlier this year by the merger of AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc, the total financial restructuring cost could now be between $4.1 billion and $5.3 billion. Some reports said the shows "Nevers" and "Westworld" would be pulled from HBO Max. The company has said the restructuring initiatives will be substantially completed by the end of 2024. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

"We've been too naïve ... for far too long," a justice ministry spokesperson said, referring to what he called clandestine operations by foreign powers in Belgium. The other three suspects arrested and charged last week were meanwhile questioned, as planned, on Wednesday by a three-judge panel. Niccolo Figa-Talamanca, the secretary-general of a rule of law campaign group, will leave jail but wear an electronic ankle tag. The European Parliament on Tuesday voted to strip Kaili, a 44-year old Greek Socialist MEP, of her vice presidency role. Although no state was publicly named by prosecutors, a source with knowledge of the case said it was Qatar.

☆ It's no great surprise that the European Parliament has a corruption problem
▼ + stars: | 2022-12-14 | by ( Luke Mcgee | ) edition.cnn.com time to read: +5 min

Belgian police said late last week that they had carried out raids and arrested four people in connection with an ongoing corruption probe into alleged payments and gifts from Qatar to members of the European Parliament (MEPs) and their staff. Kaili did not appear at a scheduled hearing on Wednesday, and was remanded in custody until she appears before a court on December 22, Belgium’s federal prosecutor’s office said Wednesday. Federal prosecutors confirmed a “large-scale investigation” was conducted into the alleged criminal activity, corruption, and money laundering activities within the European Parliament on Wednesday. Kaili, who has spoken in defense of Qatar in the European Parliament, traveled to Qatar shortly before the start of the soccer World Cup. While this scandal has rocked Brussels, the allegations have come as no great surprise to those who know the European institutions, especially the Parliament.

☆ Twitter to shut down newsletter product Revue next year
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Twitter said on Wednesday it will discontinue its newsletter product Revue next year, days after owner Elon Musk said he was open to buying rival online publishing platform Substack. "This has been a hard decision because we know Revue has a passionate user base, made up of people like you," Twitter said in a post to users. "We'll cut to the chase: from January 18, 2023, it will no longer be possible to access your Revue account. On that date, Revue will shut down and all data will be deleted." Revue was founded seven years ago in the city of Utrecht in the Netherlands.

☆ Twitter suspends bot account tracking Elon Musk's jet
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - Twitter Inc suspended a bot account tracking its owner Elon Musk's private jet, the account's operator Jack Sweeney said in a tweet on Wednesday. The Twitter account tracked movements of Musk's private jet using data available in the public domain. Later in the day, Sweeney's Twitter account was also suspended. In previous media interviews, Sweeney said he turned down a $5,000 offer from Musk in 2021 to shut down the bot account. Separately, Twitter accounts tracking the jets of billionaire tech entrepreneurs Mark Zuckerberg, Jeff Bezos and Bill Gates have also been suspended.

☆ Dutch chip equipment maker ASML's CEO questions U.S. export rules on China -newspaper
▼ + stars: | 2022-12-13 | by ( ) www.reuters.com time to read: +2 min

"Maybe they think we should come across the table, but ASML has already sacrificed," CEO Peter Wennink said in an interview with newspaper NRC Handelsblad. He said that while 15% of ASML's sales are in China, at U.S. chip equipment suppliers "it is 25 or sometimes more than 30%". Washington is urging the Netherlands, Japan and other unspecified countries with companies that make cutting edge manufacturing equipment to adopt similar rules. Wennink said it seemed contradictory that U.S. chip manufacturers are able to sell their most advanced chips to Chinese customers, while ASML is only able to sell older chipmaking equipment. (Yet) the technology used to make such chips can still be sold to China," he added.

☆ EU's Borrell: European Parliament corruption probe is "very worrisome"
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 12 (Reuters) - A Belgian investigation into alleged corruption at the European Parliament is "very worrisome", European Union foreign policy chief Josep Borrell said on Monday after raids and arrests linked to alleged money and gifts from Qatar. The European Parliament said at the weekend it had suspended the powers and duties of one of its vice presidents, Greek socialist Eva Kaili, in light of the Belgian investigation. "Certainly the news is very worrisome," Borrell told reporters as he arrived at a meeting of EU foreign ministers. "We are facing some events, some facts that certainly worries me as a former president of the European Parliament, also." The European Parliament was due to vote this week on a proposal to extend visa-free travel to the EU for Kuwait, Qatar, Oman and Ecuador.

☆ Belgium charges four people in European Parliament corruption probe
▼ + stars: | 2022-12-11 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

Prosecutors searched 16 houses and seized 600,000 euros ($631,800) in Brussels on Friday as part of an investigation into money laundering and corruption. The European Parliament said at the weekend it had suspended the powers and duties of one of its vice presidents, Greek socialist Eva Kaili, in light of the Belgian investigation. Belgian Socialist party member Marc Tarabella confirmed it was his home and that a computer and mobile phone had been taken. "If it were confirmed that someone took money to try to influence the opinion of the European Parliament, it will really be one of the most dramatic stories of corruption in recent years," he added. The European Parliament is due to vote this week on a proposal to extend visa-free travel to the EU for Kuwait, Qatar, Oman and Ecuador.

☆ Elton John quits Twitter
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Elton John performs "Bennie and the Jets" as he wraps up the U.S. leg of his 'Yellow Brick Road' tour at Dodger Stadium in Los Angeles, California, U.S. November 20, 2022. REUTERS/David SwansonDec 9 (Reuters) - British musician Elton John quit Twitter on Friday, the latest high-profile celebrity to leave the social media platform following its acquisition by billionaire Elon Musk. John, who is currently on his last-ever global tour, blamed Twitter's recent policy change as a reason for quitting. Yet it saddens me to see how misinformation is now being used to divide our world," John tweeted to his 1.1 million followers. loading"I've decided to no longer use Twitter, given their recent change in policy which will allow misinformation to flourish unchecked."

CNN —Eva Kaili, one of the European Parliament’s vice presidents, has been expelled by her political party in Greece amid a corruption probe. In a statement, the prosecutor said that for two years, Belgian federal police inspectors “suspected a country from the Persian Gulf of influencing economic and political decisions of the European parliament,” according to RTBF. The Belgian police suspect that the country transferred “consequential sums of money” or “important gifts” to significant actors within the European Parliament, according to RTBF. The federal prosecutor did not identify the vice president but said they were one of four individuals taken in for questioning. Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates all surround the Persian Gulf.

☆ Broadcom gives upbeat revenue forecast as server, data center demand booms
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Broadcom Inc (AVGO.O) forecast current-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for chips used in data centers and networking equipment. Companies are increasingly investing in the infrastructure needed to support a switch to hybrid work models, giving Broadcom - which makes chips for data centers, routers and Wi-Fi modems - an edge over competitors with more exposure to smartphones and PCs. Shares in Broadcom, which are down over 20% this year, rose 3% in extended trading. The company forecast first-quarter revenue of about $8.9 billion, compared with analysts' estimates of $8.78 billion, according to Refinitiv data. Revenue rose 21% to $8.93 billion in the fourth quarter ended Oct. 30.

☆ GameStop's third quarter disappoints on lack of hit titles, inflation pinch
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop posted revenue of $1.19 billion in the third quarter, missing estimates of $1.36 billion, according to Refinitiv IBES data. On an adjusted basis, the company lost 31 cents per share, compared with analysts' estimates of a loss of 28 cents per share. GameStop's expenses as a percentage of revenue was 32.7% in the quarter, down from 34.1% in the second quarter, as the company has tried to cut costs by reducing its workforce and shutting down stores.

☆ GameStop posts 9.4% fall in third-quarter revenue
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - GameStop Corp (GME.N) posted a 9.4% fall in quarterly revenue on Wednesday as consumers cut back spending on discretionary items amid stubbornly high inflation. The company launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop's revenue in the third quarter fell to $1.19 billion from $1.30 billion a year earlier. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Uber, Motional launch robotaxi service in Las Vegas
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional have launched their public robotaxi service in Las Vegas on Wednesday. Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, leaving investors worried. The launch is part of a non-exclusive 10-year agreement between both the companies for driverless vehicles, with a rollout in Los Angeles expected to follow. In the multi-market deal, Motional's autonomous vehicles would also ferry both passengers and delivery items for Uber and its Uber Eats division. Last month, rival Lyft (LYFT.O) said it would launch the robotaxi service in Los Angeles after it had rolled out in Las Vegas earlier this year.

☆ Analysis: East Europeans count their pennies for Christmas as food costs soar
▼ + stars: | 2022-12-07 | by ( Krisztina Than | ) www.reuters.com time to read: +6 min

Food prices in Hungary were a staggering 45.2% higher in October than a year earlier, Eurostat data shows, with 10 countries in the EU's east facing food price inflation of more than 20%. The cost of food was 33.3% higher in Lithuania and up 30% in Latvia compared to October 2021. read moreCzech headline inflation slowed to 15.1% in October but food prices grew, while in Poland food and non-alcoholic beverages inflation was 22.3% in November, well ahead of overall CPI at 17.4%. Inflation in Hungary is expected to start a very slow decline in the first half of next year. "There are still no durable signs that the inflation dynamics are improving in Hungary," Goldman Sachs has said.

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☆ BuzzFeed to cut workforce by 12%
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: 1 min

Dec 6 (Reuters) - Online media company BuzzFeed Inc (BZFD.O) said on Tuesday it will cut about 12% of its workforce, in a bid to reduce costs. As of Dec. 31, BuzzFeed had 1,522 employees across six countries, according to a regulatory filing. Reporting by Eva Mathews in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Rebecca Naden/File PhotoMONTREAL, Dec 6 (Reuters) - Countries are gathering Tuesday for a key U.N. nature conference in Montreal, aiming to broker a new global agreement to protect what's left of Earth's wildlife and natural spaces. Global Land Outlook assessment. Like many other campaigners, Zabey called for "an ambitious, clear and enforceable international agreement" similar to the Paris Agreement on climate change. Unlike the U.N. climate talks, Montreal's summit will see few world leaders, which negotiators say could make it tougher to reach an ambitious agreement. Meanwhile, Montreal police have put up a 3-meter (10-foot) fence around the downtown summit venue, Palais des congrès, and are preparing for thousands of student protesters expected to swarm the Montreal's streets to demand a strong deal to protect nature.

☆ EV maker Vinfast files for U.S. IPO
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Vietnam-based electric-vehicle maker VinFast said on Tuesday it has filed for an initial public offering in the United States and plans to list its ordinary shares on the Nasdaq under ticker symbol "VFS". While no time frame was specified on Tuesday for the offering, the IPO was initially slated for the fourth quarter of this year, the company had previously said. The company's parent, Vingroup conglomerate, said in May that the IPO maybe delayed to 2023 due to market uncertainty. In April, VinFast's Singapore-based holding company filed for a confidential IPO with U.S. securities regulators, as it readied a $4-billion investment to build a factory in the United States. Reporting by Eva Mathews in Bengaluru and Phuong Nguyen in Hanoi; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ TuSimple, Navistar scrap deal to develop self-driving trucks
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - TuSimple Holdings Inc (TSP.O) and Navistar have ended a deal to co-develop self-driving trucks, the companies announced on Monday. In 2020, Illinois-based Navistar bought a minority stake in TuSimple and announced a deal to co-develop heavy-duty self-driving trucks by 2024, as the autonomous driving technology space boomed with investor attention. The trucks would have operated at Level 4 autonomy - where vehicles can operate without a driver under set conditions. TuSimple also received nearly 7,000 orders for the self-driving trucks from companies including DHL Supply Chain, Schneider (SNDR.N) and U.S. Xpress (USX.N). San Diego, California-based TuSimple, which in October said it plans to focus on initial commercialization of its trucks in 2023, did not specify reasons for ending the deal.

Goldman Sachs forecasts 16% index returns for MSCI China (.dMICN00000PUS) and CSI300 (.CSI300) next year and recommends an overweight allocation to China, while J.P.Morgan expects a 10% potential upside in MSCI China in 2023. Morgan Stanley upgraded its recommendation to overweight on Monday with an increase in exposure to consumer stocks as reopening prospects improve. Bank of America Securities turned bullish in November, with its China equity strategist, Winnie Wu picking internet and financial stocks to lead the short-term rebound. "We have experienced several rounds of policy back and forth in 2022," she added, referring to both COVID and property policies. UBS Global Wealth Management recommends a market-neutral allocation to Chinese stocks.

☆ Apple explores moving some iPad production to India - CNBC
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

Dec 5 (Reuters) - India is exploring options to bring some of Apple Inc's (AAPL.O) iPad production to the country from China, CNBC reported on Monday, citing two sources close to the Indian government. Apple is holding ongoing discussions with officials, according to the report. The iPhone maker did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Slack CEO Butterfield to depart next month
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Slack Chief Executive Officer Stewart Butterfield plans to leave the workplace messaging platform in January, parent company Salesforce Inc (CRM.N) said on Monday. Lidiane Jones, who is the senior vice-president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, a company spokesperson said. Salesforce had acquired Slack last year in a nearly $28 billion deal following a massive bet that Slack's workplace app will become popular for collaborations within and between companies. Last week, Salesforce stock tumbled after co-CEO Bret Taylor's sudden exit caught Wall Street off guard and raised concerns about the merit in having two leaders. read moreReporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft offers Sony 10-year contract for 'Call of Duty' releases on PlayStation - WSJ
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Microsoft (MSFT.O) has offered Sony (6758.T) a 10-year contract to make each new "Call of Duty" release available on PlayStation the same day it comes to Xbox, according to an opinion piece in the Wall Street Journal on Monday from a Microsoft executive. Xbox maker Microsoft's latest offer to Sony comes as it faces increased regulatory scrutiny over its $69 billion buyout deal for Activision Blizzard. Reuters reported last month that Microsoft's remedy would consist mainly of a 10-year licensing deal to Playstation owner Sony. "The main supposed potential anticompetitive risk Sony raises is that Microsoft would stop making 'Call of Duty' available on the PlayStation. But that would be economically irrational," Microsoft President Brad Smith said in the WSJ opinion piece.

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