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☆ Deliveroo lacks tasty recipe for takeover call
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 14 (Reuters Breakingviews) - Deliveroo’s (ROO.L) valuation makes it a plausible takeover target, but Chief Executive Will Shu has a weak hand in negotiating any deal. Activist investor Sachem Head Capital Management has built a stake in the London-listed food delivery company, Bloomberg reported late on Wednesday. Share prices of Deliveroo rose nearly 5% on Thursday morning. That’s below the 1.5 times average of rivals Delivery Hero (DHER.DE), Just Eat Takeaway.com (TKWY.AS), HelloFresh (HFGG.DE) and DoorDash (DASH.N). Lastly, Delivery Hero and Amazon’s 5% and 12.5% stakes could complicate any deal.

Persons: Will Shu, LSEG, Uber, Karen Kwok, BoE, Neil Unmack, Streisand Neto Organizations: Reuters, Head Capital Management, Bloomberg, X, Treasury, Thomson Locations: London

☆ UK's IG Group ekes out revenue rise from interest income, U.S. trading
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

Dealers work on the IG Group trading floor in London, Britain June 30, 2015. REUTERS/Neil Hall/File Photo Acquire Licensing RightsSept 14 (Reuters) - British online trading platform IG Group (IGG.L) on Thursday reported a marginal rise in its first-quarter revenue after a big boost from net interest income and strong U.S. trading helped offset a fall in the number of active clients. However, the company's net interest income on client balances was boosted by rising interest rates and stability in the amount of cash maintained by clients in their accounts. Net interest income during the quarter was 34.4 million pounds compared to 7.1 million pounds a year earlier. IG Group posted total revenue of 242.9 million pounds ($303.5 million) for the reported period, compared with 241.8 million pounds a year earlier.

Persons: Neil Hall, Khushi, Rashmi Aich, Elaine Hardcastle Organizations: IG Group, REUTERS, Bank, IG, Thomson Locations: London, Britain, Ukraine, U.S, Bengaluru

☆ U.S. Diplomat Questions Whether Chinese Defence Minister Under 'House Arrest'
▼ + stars: | 2023-09-14 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

In a post on X, formerly Twitter, Rahm Emanuel wrote: "1st: Defense Minister Li Shangfu hasn't been seen or heard from in 3 weeks. Now: He’s absent from his scheduled meeting with the Singaporean Chief of Navy because he was placed on house arrest???" China's foreign and defence ministries did not immediately respond to requests for comment. Reuters exclusively reported on Thursday that Li had abruptly pulled out of a meeting with Vietnamese defence leaders last week. These moves have raised questions from analysts and diplomats about a lack of transparency and unpredictable decision-making in China's leadership.

Persons: Yukiko Toyoda, Tian, Rahm Emanuel, Li Shangfu hasn't, William Shakespeare's, Li, Singapore Rahm, Sean Wat, Dong Jun, Qin Gang, Lun Tian, Martin Pollard, Xinghui, John Geddie, Neil Fullick Organizations: Twitter, Defense, Navy, Reuters, Financial Times, Singapore, PLA Navy, Liberation, Rocket Force Locations: Tian TOKYO, BEIJING, U.S, Japan, Vietnam, Denmark, Tokyo, Beijing, Singapore, China, Xinghui Kok

☆ White House Strategy on Impeachment: Fight Politics With Politics
▼ + stars: | 2023-09-14 | by ( Peter Baker | More About Peter Baker | ) www.nytimes.com time to read: +2 min

“Overall, this has not been handled well by the White House,” Mr. Epstein said. “We think they should work with us on legitimate issues — things that actually matter to the American people,” Karine Jean-Pierre, the White House press secretary, told reporters. Neil Eggleston, who was a White House lawyer for Mr. Clinton, said it was important to draw the contrast. “The White House needs to continue to execute and be presidential,” he said. “It is too easy for the entire team to focus on responding to every new claim by the House Republicans.

Persons: Julian Epstein, Clinton, “, ” Mr, Epstein, ”, ” Karine Jean, Pierre, Neil Eggleston, Mr, Biden Organizations: White, Republicans, White House, House Republicans Locations: House, Baghdad, U.S, White

☆ Music investor Hipgnosis to sell catalogues to bolster shares
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Shakira performs during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. The sale includes a portfolio of 29 music catalogues and a collection of non-core songs to a partnership between its investment adviser and funds advised by U.S. private equity group Blackstone (BX.N), Hipgnosis said on Thursday. Founder Merck Mercuriadis is the CEO and founder of the investment adviser, Hipgnosis Song Management (HSM), and holds a minority interest in the buyer, Hipgnosis Songs Capital. Hipgnosis Songs Fund will retain ownership of seven of its ten largest catalogues, it added. Last week, Alchemy Copyrights agreed to buy music copyright-focussed investment firm Round Hill Music Royalty Fund (RHM.L) for about $468.8 million.

Persons: Shakira, Brendan Mcdermid, Nelly, Hipgnosis, Peppers, Neil Young, Blondie, Merck Mercuriadis, HSM, Aby Jose Koilparambil, Janane Venkatraman, Elaine Hardcastle Organizations: Prudential Center, REUTERS, U.S, Blackstone, Blackstone Inc, FTSE, Royalty, Thomson Locations: Newark , New Jersey, U.S, Bengaluru

Earth is exceeding its “safe operating space for humanity” in six of nine key measurements of its health, and two of the remaining three are headed in the wrong direction, a new study said. Earth’s climate, biodiversity, land, freshwater, nutrient pollution and “novel” chemicals (human-made compounds like microplastics and nuclear waste) are all out of whack, a group of international scientists said in Wednesday’s journal Science Advances. “We are in very bad shape,” said study co-author Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research in Germany. Water went from barely safe to the out-of-bounds category because of worsening river run-off and better measurements and understanding of the problem, Rockstrom said. Political Cartoons View All 1157 ImagesIf Earth can manage these nine factors, Earth could be relatively safe.

Persons: ”, Johan Rockstrom, “, Rockstrom, it’s, –, ” Rockstrom, Jonathan Overpeck, ” Overpeck, Neil Donahue, Duke’s Stuart Pimm, Granger Morgan, ” “ I’ve, ” Morgan, Seth Borenstein Organizations: Potsdam Institute, Climate, Research, Biodiversity, ” University of Michigan, Carnegie Mellon, Twitter, AP Locations: Germany, Paris

☆ CEOs are having their worst year in decades
▼ + stars: | 2023-09-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Oil prices hit 10-month highGlobal oil prices climbed above $92 a barrel on Tuesday for the first time in nearly 10 months, reports my colleague Matt Egan. Takeaways from Apple’s iPhone 15 eventTuesday was a big day for Apple as the tech titan unveiled its iPhone 15 lineup along with other major updates during its September keynote event. Among the highlights: The iPhone 15 Pro and iPhone 15 Pro Max now feature a titanium casing, allowing the design to be slimmer and thinner than before. The iPhone 15 comes in 5 colors (white, black, pink, green and yellow) and in two sizes: A 6.1-inch screen for the iPhone 15 and 6.7 inches for iPhone 15 Pro. The iPhone 15 will start at $799, and iPhone 15 Pro will start at $999.

Persons: New York CNN — It’s, ”, Bernard Looney, Looney, Stewart Glendinning, Timothy Baxter, Baxter’s, Baxter, Macy’s, Rosalind Brewer, Neil Saunders, hasn’t, Matt Egan, Brent, Matt Smith, “, Clare Duffy, Samantha Murphy Kelly, Max Organizations: CNN Business, Bell, New York CNN, Ferguson Partners, BP, Express, Tyson Foods, Walgreens Boots Alliance, Walgreens, “, Americas, AAA, Apple Locations: New York, —, Libya, “ Libya, Kpler, Russia, Saudi Arabia

☆ Analysis: Investors call 'peak pessimism' for beaten-up UK stocks
▼ + stars: | 2023-09-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +6 min

"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.

Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows

Output had risen 0.5% in June, and the economy grew 0.2% over the three months to the end of July. The data underlined signs that Britain's economy is weakening, perhaps by more than the Bank of England had expected ahead of its September interest rate meeting. "Either way, it does suggest that higher interest rates and sticky inflation are having a more significant effect on the economy." Unusually wet weather in July hurt output at retailers and in the construction sector, which fell 0.5%, the ONS said. Wednesday's data does not include recent, substantial upward revisions to the performance of Britain's economy up to the end of 2021.

Persons: Toby Melville, Sterling, BoE, Neil Birrell, Samuel Tombs, Andy Bruce, David Milliken, William James, Alison Williams Organizations: St Thomas ' Hospital, REUTERS, LONDON, National Statistics, Bank of England, Premier Miton, ONS, Thomson Locations: St, London, Britain, England

NEW YORK (AP) — The Pulitzer Prize Board has revised its longtime rules on eligibility for many of its arts and letters awards and will now allow those not born in the U.S. and other non-citizens to compete. The board announced Tuesday that permanent residents and those who have made the U.S. their longtime primary home will be eligible in the categories for books, drama and music. “This expansion of eligibility is an appropriate update of our rules and compatible with the goals Joseph Pulitzer had in establishing these awards.”Last August, hundreds of writers endorsed an open letter calling for the Pulitzer board to permit non-U.S. citizens to compete. Signers included Sandra Cisneros, Brit Bennett, Dave Eggers and Pulitzer winners Andrew Sean Greer and Diane Seuss. Joseph Pulitzer founded the prizes in 1917 with a mission to honor “American” journalism and literature.

Persons: —, Tommie Shelby, Neil Brown, Joseph Pulitzer, ”, Sandra Cisneros, Brit Bennett, Dave Eggers, Andrew Sean Greer, Diane Seuss Organizations: “ Locations: U.S

☆ China is bitter medicine for Europe’s EV pivot
▼ + stars: | 2023-09-12 | by ( Neil Unmack | ) www.reuters.com time to read: +7 min

LONDON, Sept 12 (Reuters Breakingviews) - China can offer a bitter medicine for Europe’s bold electric vehicle pivot. That has prompted carmakers to develop premium e-cars for richer punters, rather than mass market vehicles. More competition from Chinese carmakers should help bring down prices of electric vehicles in Europe. It will force Western players to keep cutting costs to avoid losing too much market share, boosting overall e-car adoption. Sales of EVs picked up in August, with Jefferies analysts estimating a total market share across Europe of 23%.

Persons: Oliver Zipse, Olaf Scholz, carmakers, Morgan Stanley, Encouragingly, BYD, ”, EVs, Lisa Jucca, Oliver Taslic, Thomas Shum Organizations: Reuters, Volkswagen, European Automobile Manufacturers ’ Association, HK, Norway, BMW, Reuters Graphics, Jato Dynamics, Benchmark Mineral Intelligence, BYD, Renault, UBS reckons, Financial, Electric, European Union, Jefferies, Thomson Locations: China, Europe, Italy, Europe’s, Germany, Norway, Latvia, Bulgaria, Britain, Polo . China, Western, EU

☆ More Chinese cities lift home-buying curbs to revive demand
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 11 (Reuters) - Two major cities in eastern China lifted all curbs on home purchases and selling on Monday, joining several other cities in dropping restrictions to attract buyers and revive a largely frozen property market. Qingdao previously limited the number of homes that could be purchased in two districts. Last week, three cities - Nanjing in eastern Jiangsu province and Dalian and Shenyang in northeastern Liaoning province - became the first group of big cities to eliminate curbs on home buying. Smaller Chinese cities, whose property markets tend to have a larger share of their local economies, have already begun dismantling curbs. Jiaxing city, a relatively small city in the eastern province of Zhejiang, announced it would lift all curbs in the city in late August, according to a local media report.

Persons: Thomas Peter, Albee Zhang, Ryan Woo, Neil Fullick, Emelia Organizations: REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, Jinan, Qingdao, China's, Shandong, Nanjing, Jiangsu, Dalian, Shenyang, Liaoning, Jiaxing, Zhejiang

☆ Number of billion-dollar weather disasters in US blows through annual record with four months left in the year
▼ + stars: | 2023-09-11 | by ( Ella Nilsen | ) edition.cnn.com time to read: +15 min

This year’s billion-dollar disasters have caused 253 direct and indirect fatalities and have resulted in $57.6 billion in damage, NOAA data shows. Joe Raedle/Getty Images Ken Kruse looks out at floodwaters surrounding his apartment complex in Tarpon Springs, Florida, on August 30. Joe Raedle/Getty Images Florida's Fort Myers Beach is seen during high tide ahead of Hurricane Idalia on August 29. Eva Marie Uzcategui/Bloomberg/Getty Images Shelves are left empty at a Target store in Gainesville, Florida, on August 29. Sarah Salmonese sits where her apartment once stood in Lahaina, Hawaii, on Friday, August 11.

Persons: CNN — It’s, Idalia, Hilary, Rachel Cleetus, ” Cleetus, Cristobal Herrera, Shutterstock, Sean Rayford, Cheney Orr, Reuters Jewell Baggett, Ulashkevich, EFE, Thomas Simonetti, Jack Lemburg, Richard Burkhart, Douglas R, Clifford, Zuma Press Donnye Franklin, Joe Raedle, Rebecca Blackwell, Ron DeSantis, Savannah Alderman Nick Palumbo, Ken Kruse, Hurricane Idalia, Eva Marie Uzcategui, Christian Monterrosa, Stephen M, Dowell, Reagan Ortagus, Tyler, Bob Self, NOAA Ana Iris Aguiar, Alexandre Meneghini, Marco Bello, Adrees Latif, Samson, Victor Cassano's, Chris O'Meara, Yamil Lage, Sharon Walsh, Doug Engle, Christine Willis, Andrew West, Harvey, Irma, Maria, Adam Smith, Michael, Laura, Ida, Ian, ” Smith, Deanne Criswell, Sarah Salmonese, Go Nakamura, Ken Alba, Jae C, Yuki Iwamura, Patrick T, Fallon, Bryan Anselm, Mike Blake, Matthew A, Foster, Rick Bowmer, Lauren Haley, Makalea Ahhee, Justin Sullivan, Max Whittaker, Zoltan Balogh, Robert Gauthier, Mengshin Lin, Evelio Contreras, CNN Vixay Phonxaylinkham, Lana, Phonoxaylinkham, Marco Garcia, Claire Rush, Myrna Ah Hee, Sui, Ty O'Neil, Ku'u Kauanoe, ZUMA, Matthew Thayer, Criswell, It’s, ” Criswell, Cleetus, ” Organizations: CNN, National Oceanic, Atmospheric Administration, Idalia, NOAA, Tropical, Union of Concerned, “, Tampa Bay Times, ZUMA Press, Reuters, Press, Washington Post, Angels Episcopal Church, Savannah Morning, USA, Network Rescue, Zuma Press, AP Florida Gov, Savannah, Bloomberg, Getty, Duke, Orlando Sentinel, Florida Times, Union, AP, Reuters Pike Electric, Southwest Airlines, Tampa International Airport, Reuters Home Depot, Reuters Fort Myers, Federal Emergency Management, FEMA, Senate, Ukraine, New York Times, Staff, US Army National Guard, Maui Police, Facility, AP Volunteers, Grace Baptist, Volunteers, Los Angeles Times, Kahului Airport, Technologies, Kahului, AP Helicopters, Hawaii Army National Guard, Hawaii National Guard, Reuters Residents, ZUMA Passengers, Maui News Locations: United States, South, Midwest, California, Horseshoe Beach , Florida, Bend, Tampa, Horseshoe Beach, Perry , Florida, Keaton Beach , Florida, Madison , Florida, Steinhatchee , Florida, Samarra, St, Savannah , Georgia, Savannah, Steinhatchee, Crystal River , Florida, Perry, Crystal, Tarpon Springs , Florida, Mayo , Florida, Tarpon Springs, Myers, Hurricane, Gainesville , Florida, Sumterville , Florida, Johns County , Florida, Florida, NOAA, La Coloma, Cuba, Clearwater , Florida, Playa Majana, Suwannee , Florida, Batabanó, AFP, Guanimar, Ocala , Florida, USA, Reuters Fort Myers Beach, Gulf, Lahaina , Hawaii, Lahaina, Hawaii, Maui, Wahikuli, Wailuku, Kula , Hawaii, Kula, Kihei, West Maui, Grace, Napili, Honokowai, Honolulu, Maalaea, Kahului, Las Vegas, Church, Lahaina Hongwanji

☆ Basketball Canada outlasts U.S. in OT, capture first-ever basketball World Cup medal
▼ + stars: | 2023-09-10 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

[1/5] Basketball - FIBA World Cup 2023 - Third-Place Playoff - United States v Canada - Mall of Asia Arena, Manila, Philippines - September 10, 2023 Canada players celebrate with their bronze medals after the match REUTERS/Lisa Marie David Acquire Licensing RightsMANILA, Sept 10 (Reuters) - Canada bagged their first-ever FIBA Basketball World Cup podium finish at the expense of undermanned United States 127-118 in overtime in a riveting, record-setting bronze medal game on Sunday in Manila. It was the most points scored for a player in a medal-winning game in tournament history. Shai Gilgeous-Alexander, Canada's leading scorer, rebounder and passer, finished with 31 points, six rebounds and 12 assists. Team USA, previously unbeaten in their four bronze medal matches, recorded the most points they have conceded in a World Cup game. Despite the defeat, the United States finished better than their seventh spot in 2019, their worst-ever major international tournament result.

Persons: Lisa Marie David Acquire, Dillon Brooks, Brooks, Shai Gilgeous, Alexander, Canada's, rebounder, Paolo Banchero, Jaren Jackson Jr, Brandon Ingram, USA's, Anthony Edwards, Fan, Austin Reaves, Mikal Bridges, Canada's Kelly Olynyk, Neil Jerome Morales, Christian Radnedge Organizations: Basketball, FIBA, Asia Arena, Rights, FIBA Basketball, United, Houston Rockets, Team, NBA, Minnesota Timberwolves, Team USA, Brooklyn Nets, Mikal, Canada, Summer, United States, U.S, Thomson Locations: States, Canada, Asia, Manila, Philippines, Rights MANILA, United States, U.S

☆ Germany beat Serbia to win first World Cup crown
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: 1 min

MANILA, Sept 10 (Reuters) - Germany won their first FIBA Basketball World Cup crown by beating an undermanned Serbia 83-77 on Sunday in Manila. Germany leaned on a 22-10 surge in the third quarter to build a cushion, and never let go of the lead to win the World Cup's first all-European final since 2006. Reporting by Neil Jerome Morales; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Neil Jerome Morales, Hugh Lawson Organizations: FIBA Basketball, Thomson Locations: MANILA, Germany, Serbia, Manila

☆ The power grid needs repairs. These companies stand to benefit
▼ + stars: | 2023-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

A budding ecosystem of companies stand to gain as businesses and policymakers grow increasingly focused on improving the electric grid. President Joe Biden committed $95 million to shore up Hawaii's electric grid following the tragedy. Beyond that, Kalton said it's also just good business sense: Utility companies don't want their grids to go down and leave unhappy customers without power. And he said utility companies can grow earnings power by spending capital and increasing their base rate. An ecosystem of companies Beyond physically changing the grid, some companies are making progress elsewhere, said Chanin, whose ETF is up about 18% this year.

Persons: Neil Kalton, Joe Biden, It's, —, Said, Kalton, it's, Steven Fisher, doesn't, Fisher, Andrew Chanin, Chanin, Eaton, Michael Bloom Organizations: NBC News, Electric, UBS, Primoris Services, LSEG, Nvidia Locations: Maui, U.S, Wells Fargo, California , Colorado, Oregon, California, Florida, Texas

☆ Basketball Serbia and Germany in pursuit of first World Cup title
▼ + stars: | 2023-09-09 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

MANILA, Sept 9 (Reuters) - A first-time winner will be crowned on Sunday when Serbia and Germany lock horns in the first all-European final at the FIBA World Cup since 2006. Reaching the final allowed Serbia and Germany to exorcise forgettable 2019 campaigns. Serbia were knocked out in the quarter-finals, while Germany finished a lowly 18th. "It is great to see two teams that have earned their way," Spain's Pau Gasol, the World Cup global ambassador, said in a talk show on Saturday. The Germans have won three of their five tussles against Serbia, including their last two meetings.

Persons: Nikola Milutinov, Spain's Pau, Germany's Andreas Obst, Nobody, it's, Serbia's Filip Petrusev, Nikola Jokic, Simanic, Neil Jerome Morales, Pritha Sarkar Organizations: FIBA, Spain's Pau Gasol, Reuters, Philadelphia 76ers, Canada, NBA, Thomson Locations: MANILA, Serbia, Germany, Spain, United States, Manila, Sudan

☆ Express CEO Tim Baxter resigns, replaced by former Tysons Foods exec Stewart Glendinning
▼ + stars: | 2023-09-09 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —Former Tyson Foods executive Stewart Glendinning will be the new CEO of clothing company Express, replacing Timothy Baxter, effective September 15, the company announced. “He is a highly accomplished executive who will bring fresh thinking to the Company and our strategies for profitable growth. Baxter’s resignation was announced one day after Express released its second-quarter results, with net sales of its Express brand and its lifestyle line UpWest decreasing 15% compared to last year. Express affirmed Baxter’s departure was not related to the company’s financial position. Baxter, who spent more than 11 years with Macy’s, joined Express in June 2019.

Persons: Stewart Glendinning, Timothy Baxter, ” Mylle Mangum, Stewart, Glendinning, Baxter’s, Neil Saunders, Baxter, Macy’s Organizations: CNN, Tyson Foods, Express, Express Board, Company, New York Stock, ” Express, “ Express, WHP, NYSE, “, VF Corporation Locations: womenswear

☆ In cat and mouse game, Philippines resupplies troops in South China Sea atoll
▼ + stars: | 2023-09-09 | by ( Jay Ereno | ) www.reuters.com time to read: +3 min

[1/3] Journalists onboard a Philippines Coast Guard ship take photos of a China Coast Guard vessel, during a resupply mission for troops stationed at a grounded Philippines ship, in the South China Sea, September 8, 2023. NO ARCHIVES Acquire Licensing RightsSOUTH CHINA SEA, Sept 9 (Reuters) - The Philippines has completed a supply mission for troops stationed in a rusty World War Two-era ship, but not without a usual cat and mouse chase with Chinese vessels in the South China Sea. In another instance, a Philippine ship was surrounded by a Chinese coast guard vessel and three maritime militia vessels. One of the Chinese ships was also seen heading dangerously close to the Philippine vessel which Reuters was onboard, while several Chinese militia vessels tried to block its path. "We always encounter dangerous manoeuvres, shadowing activities, blocking not only from China coast guard vessels, but also from China militia vessels," Philippine Coast Guard commanding officer Emmanuel Dangate told reporters after the mission.

Persons: Jay Ereno, Thomas Shoal, Emmanuel Dangate, Jay Ereño, Neil Jerome Morales, Clelia Organizations: Journalists, Philippines Coast Guard, China Coast Guard, REUTERS, CHINA SEA, Reuters, Chinese Coast Guard, Philippine Coast Guard, BRP, BRP Sierra Madre, U.S . Navy, China, Thomson Locations: Philippines, South China, Philippine, China, BRP Sierra, U.S, China's, Malaysia, Vietnam, Brunei, Taiwan

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Sept 8 (Reuters) - U.S. chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation. "Reliance will create AI applications and services for their 450 million Jio (telecom) customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India," Nvidia said. Nvidia globally has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. Reliance said the new AI infrastructure will speed up a range of India's key AI projects, including chatbots, drug discovery, and climate research. Separately, India's Tata Group too is set to announce an AI partnership with Nvidia later during Friday, a source with direct knowledge of the matter told Reuters.

Persons: Dado Ruvic, Mukesh Ambani, Grace Hopper Superchip, Reliance, Neil Shah, Munsif, Aditya Kalra, Sharon Singleton, Kim Coghill, David Evans Organizations: NVIDIA, REUTERS, Rights, Nvidia, Reliance, Counterpoint Research, Reuters, India's Tata Group, Thomson Locations: India, Bengaluru, Dhwani Pandya, Mumbai, New Delhi

☆ Basketball Serbia beat Canada, return to World Cup final
▼ + stars: | 2023-09-08 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +1 min

MANILA, Sept 8 (Reuters) - Serbia will return to the FIBA Basketball World Cup final after defeating Canada 95-86 by imposing their will in the paint and controlling the boards on Friday in Manila. The Balkan nation's stifling defence forced Canada into turnovers, and limited their North American counterparts to 15 points in the first quarter. He finished the game with 15 points, two rebounds, and nine assists, far below his tournament average of 25 points per game. Serbia lost to the United States 129-92 in the final of the tournament's 2014 edition in Madrid, Spain. The United States play Germany at 1240 GMT on Friday for the other slot in the final.

Persons: Bogdan Bogdanovic, Nikola Milutinov, Shai Gilgeous, Alexander, Canada's, Neil Jerome Morales, Christian Radnedge Organizations: FIBA Basketball, Canada, Manila ., Serbian, Atlanta Hawks, United, Thomson Locations: MANILA, Serbia, Manila, Canada, Serbian, United States, Madrid, Spain, China, Germany

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Riyadh says it aims to stabilise the oil market by extending a voluntary oil output cut of 1 million barrels per day until the end of 2023. Declining oil production and revenue this year could see Saudi Arabia's economy shrink for the first time since 2020 at the height of the COVID-19 pandemic, although a hefty dividend from state oil producer Saudi Aramco (2222.SE) should provide a cushion for public finances. Last year the Saudi economy grew 8.7% and generated a fiscal surplus of 2.5% of GDP, its first surplus in nine years as oil soared to highs near $124. "Certainly, we see no signs that the Public Investment Fund's acquisition streak is cooling," RBC Capital Markets said in a note.

Persons: Ahmed Jadallah, Justin Alexander, Monica Malik, Alexander, James Swanston, PIF, Neil Quilliam, Quilliam, Rachna Uppal, Yousef Saba, Ahmad Ghaddar, Susan Fenton Organizations: REUTERS, Saudi Aramco, OPEC's, Khalij Economics, Abu, Abu Dhabi Commercial Bank, PMI, GlobalSource Partners, Capital Economics, International Monetary Fund, IMF, Public Investment Fund, Saudi, Public Investment, RBC Capital Markets, Reuters, Chatham House, Aramco, Riyadh bourse, Thomson Locations: Aramco, Saudi, Saudi Arabia, DUBAI, Riyadh, Ukraine, Abu Dhabi, Saudi Aramco, London, PIF

☆ Black hole is observed snacking on sun-like star, bite by bite
▼ + stars: | 2023-09-08 | by ( Will Dunham | ) www.reuters.com time to read: +3 min

It was observed being plundered by a supermassive black hole at the heart of a spiral-shaped galaxy. The supermassive black hole at the center of our galaxy, called Sagittarius A*, possesses about 4 million times the mass of our sun. Most galaxies have such black holes at their center, and the environment around them can be among the most violent places in the universe. The star was observed orbiting the black hole every 20 to 30 days. This marked the first time that scientists had observed a sun-like star being repeatedly snacked upon by a supermassive black hole.

Persons: Neils Bohr, Daniele Malesani, Neil Gehrels, Rob Eyles, Ferris, Will Dunham, Rosalba O'Brien Organizations: NASA, Neils, REUTERS Acquire, Rights, NASA's, University of Leicester, Thomson Locations: Hawaii, U.S, Handout, England

☆ Beatles Copyright Owner Shares Soar After Buyout Offer
▼ + stars: | 2023-09-08 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Shares in Round Hill Music Royalty Fund, which owns the copyrights to work of major artists such as the Beatles, soared as much as 67% on Friday after a $496 million buyout offer from Alchemy Copyrights. Shares in Round Hill Music were up 64% at $1.125 by 0753 GMT, having hit a record $1.15 earlier on. In a note, Jefferies said it expects Alchemy's offer is "highly likely to be successful" despite coming at a discount to net asset value. Shareholders in Round Hill Music will get $1.15 in cash per share, a discount of approximately 11.5% to RHM's NAV per share of $1.30 as of September 8. Jefferies said Hipgnosis "trades on a similar discount, but is a larger vehicle, with arguably a more iconic music portfolio."

Persons: Jefferies, Shakira, Neil Young, Hipgnosis, Lucy Raitano, Amanda Cooper Organizations: Royalty Fund, Jefferies Locations: Hill

☆ Beatles copyright owner shares soar after buyout offer
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 8 (Reuters) - Shares in Round Hill Music Royalty Fund (RHM.L), which owns the copyrights to work of major artists such as the Beatles, soared as much as 67% on Friday after a $496 million buyout offer from Alchemy Copyrights. Shares in Round Hill Music were up 64% at $1.125 by 0753 GMT, having hit a record $1.15 earlier on. In a note, Jefferies said it expects Alchemy's offer is "highly likely to be successful" despite coming at a discount to net asset value. Shareholders in Round Hill Music will get $1.15 in cash per share, a discount of approximately 11.5% to RHM's NAV per share of $1.30 as of September 8. Jefferies said Hipgnosis "trades on a similar discount, but is a larger vehicle, with arguably a more iconic music portfolio."

Persons: Jefferies, Shakira, Neil Young, Hipgnosis, Lucy Raitano, Amanda Cooper Organizations: Royalty, Jefferies, Thomson Locations: Hill

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