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REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 10 (Reuters) - EU countries and European Parliament lawmakers are set to agree on light touch rules for Airbnb (ABNB.O) next week, three people familiar with the matter said on Friday. The rules for short-term accommodation rental services, proposed by the European Commission last year, aimed to tackle the patchwork of different national laws across the 27-country zone regulating Airbnb and similar companies. Officials from EU countries and EU lawmakers will meet to thrash out the final details of the rules on Nov. 15, according to the Parliament agenda. Airbnb said EU-wide rules would be a watershed moment for short-term rental companies. Paris, Venice, Barcelona and other places popular with tourists blame Airbnb for aggravating housing shortages by pushing out lower-income residents.

Persons: Dado Ruvic, Airbnb, Nathan Blecharczyk, Foo Yun Chee, Kirsten Donovan, David Evans Organizations: REUTERS, Rights, Big Tech, European, Reuters, Thomson Locations: Rights BRUSSELS, Spain, Paris, Venice, Barcelona

A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Boeing Co FollowLONDON, Nov 10 (Reuters) - Internal data from Boeing (BA.N), one of the world's largest defence and space contractors, was published online on Friday by Lockbit, a cybercrime gang which extorts its victims by stealing and releasing data unless a ransom is paid. According to a post on Lockbit's website, the data from Boeing was published in the early hours of Friday morning. “We are aware that, in connection with this incident, a criminal ransomware actor has released information it alleges to have taken from our systems," Boeing said. The company said it "remains confident" the event does not pose a threat to aircraft or flight safety, but declined to comment on whether defense or other sensitive data had been obtained by Lockbit.

Persons: Benoit Tessier, Lockbit, Lockbit ransomware, James Pearson, Tim Hepher, Valerie Insinna, Kirsten Donovan, David Evans, Emelia Organizations: Boeing, Paris, REUTERS, Rights, Reuters, Lockbit, Cybersecurity, Infrastructure Security Agency, Industrial, Commercial Bank of China's, U.S . Treasury, Thomson Locations: Le Bourget, Paris, France, United States, India, Brazil, U.S, Washington

☆ AirFrance-KLM invests in DG Fuels' US sustainable fuel production plant
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - French-Dutch airline AirFrance-KLM (AIRF.PA) has made a $4.7 million investment in DG Fuels' Sustainable Aviation Fuel (SAF) production plant in the U.S. state of Louisiana, a step towards its 10% SAF incorportation target for 2030. "Air France-KLM acquired an option to purchase up to 25 million gallons / 75,000 tons of SAF annually over a multi-year period beginning in 2029," the group said in a press release on Friday. Sustainable aviation fuels, which use waste such as cooking oils and have either net-zero CO2 emissions or lower CO2 emissions than kerosene, a fossil fuel, are seen as an option to curb air travel's carbon footprint. The European Union has adopted rules requiring flights departing from EU airports to carry a progressively increasing amount of SAF, starting from 2% of total fuel in 2025. Reporting by Stéphanie Hamel; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Stéphanie Hamel, Kirsten Donovan Organizations: AirFrance, KLM, DG Fuels, Aviation Fuel, SAF, France, European, Thomson Locations: U.S ., Louisiana

☆ Richemont brands 'satisfied' with Farfetch technology
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsPARIS, Nov 10 (Reuters) - Richemont (CFR.S) labels are moving ahead with the transfer of their online businesses to Farfetch (FTCH.N) technology, which they are satisfied with, executives at the Swiss-based group said Friday. The adoption of Farfetch technology to run the online business of Richemont labels is part of a wider agreement for Richemont to sell a 47.5% stake in YNAP in exchange for more than 50 million Farfetch shares, announced in August 2022. "Everything we expected in terms of technology from our Farfetch friends, they've delivered," Richemont chairman Johann Rupert told analysts on an earnings call. Farfetch shares have fallen by more than 60% in the past six months.

Persons: Denis Balibouse, Richemont, they've, Johann Rupert, Bernstein, Mimosa Spencer, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, Richemont's, U.S, YNAP, Farfetch

☆ Thales Alenia Space to invest over 100 mln euros in Space Smart Factory in Rome
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Thales Alenia Space, a French-Italian joint venture between Thales (TCFP.PA) and Leonardo (LDOF.MI), will invest over 100 million euros ($107.15 million) to set up a Space Smart Factory at the Tecnopolo Tiburtino hub in Rome. The project to build an all-digital factory for the production of satellites is co-funded by the Italian Space Agency through Italy's post-pandemic recovery funds, the company said in a statement on Thursday. "The facility will form part of a system of interconnected space factories in Italy, employing advanced technologies to build satellites of different sizes for various fields and applications." the note read, adding Rome's plant will be one of the largest digital and reconfigurable facilities of its kind in Europe. Thales Alenia Space is jointly controlled by Thales, with a 67% stake, and Leonardo, with the remaining 33% stake.

Persons: Leonardo, Alessia, Kirsten Donovan Organizations: Thales Alenia Space, Thales, Smart Factory, Italian Space Agency, Thomson Locations: French, Italian, Rome, Italy's, Italy, Europe

☆ ECB tells banks to factor in further drop in property prices
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsFRANKFURT, Nov 7 (Reuters) - Euro zone banks should factor in the risk of a further fall in property prices when they make provisions and plans about their capital, the European Central Bank's chief supervisor Andrea Enria said on Tuesday. The European property market has come under pressure from the ECB's steepest and longest streak of increases in interest rates, which are now at record highs. Fuelled by low interest rates and massive ECB cash injections, billions were funnelled into property in the last decade, particularly in richer European countries such as Germany, France and the Netherlands. Euro zone banks have been curbing access to credit, particularly mortgages, and demand from households and companies is also falling, ECB data shows.

Persons: Heiko Becker, Andrea Enria, Enria, Banks, Germany's Claudia Buch, Francesco Canepa, Kirsten Donovan, Jan Harvey Organizations: European Central Bank, REUTERS, Rights, Central Bank's, ECB, Thomson Locations: Frankfurt, Germany, France, Netherlands

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSummary Saudi Arabia and Russia supply cuts to remain until year-endChina's refinery throughput slows from record levelsEuro zone recession fears amplified by PMI dataHOUSTON, Nov 6 (Reuters) - Oil prices rose on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Russia also announced it would continue its additional voluntary cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December. Oil prices rebounded after both benchmarks lost about 6% in the week to Nov. 3. Monday's oil price gains may have been capped by an easing of crude throughput at Chinese refineries.

Persons: Agustin Marcarian, Dennis Kissler, Giovanni Staunovo, Tamas Varga, Robert Harvey, Florence Tan, Colleen Howe, David Goodman, Kirsten Donovan, Deepa Babington Organizations: REUTERS, PMI, HOUSTON, Brent, U.S, West Texas, BOK Financial, Reuters, Saudi, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, Saudi, OPEC, China’s, China, Europe

☆ Dollar extends drop, still vulnerable after Fed
▼ + stars: | 2023-11-06 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The dollar index was hovering around a 6-1/2 week low of 104.84, after falling around 1.4% last week. "You could still see a somewhat weaker dollar in the short-term, but if the (euro-dollar) rally continues it needs to get some fuel from somewhere." JPMorgan analysts say a sustained dollar sell-off would need signs of improvement in the euro zone, China and other regions, which it says are "still tenuous". The latest growth and inflation data from the euro zone and manufacturing surveys from China bear that out. Euro zone recession fears hardened on Monday after a survey showed a downturn in business activity accelerated last month as demand in the services sector weakened further.

Persons: Dado Ruvic, Tina Teng, Dane Cekov, Adrian Prettejohn, Jerome Powell, Nordea's Cekov, Sterling, bitcoin, Samuel Indyk, Rae Wee, Vidya, Kirsten Donovan, Mark Potter Organizations: REUTERS, U.S, Federal, Aussie, CMC Markets, JPMorgan, Economics, European Central Bank, Bank of Japan, Thomson Locations: Auckland, China, U.S

☆ Ryanair sees record annual profit, first regular dividend as fares soar
▼ + stars: | 2023-11-06 | by ( Conor Humphries | ) www.reuters.com time to read: +2 min

SummaryCompanies Fares up 24% during summer seasonProfit up 59% in six months to end-SeptemberFirst regular dividend of 400 mln eur due next yearDUBLIN, Nov 6 (Reuters) - Ryanair (RYA.I) on Monday forecast a record annual profit and promised to pay investors a regular dividend for the first time after fares soared 24% during the summer season. Europe's largest airline by passenger numbers said it expects an after-tax profit of between 1.85 billion and 2.05 billion euros for the year to end-March, easily beating its previous record of 1.45 billion euros in 2018. "We're pleased to report strong half year results ... due to a very strong Easter, record summer traffic," Group Chief Executive Michael O'Leary said in a video presentation. A maiden ordinary dividend of 400 million euros will be split between an interim payment of 200 million euros in February and a final dividend of 200 million euros in September next year. For subsequent financial years Ryanair plans to return approximately 25% of the after-tax profit posted the previous year by way of an ordinary dividend, the airline said.

Persons: We're, Michael O'Leary, Neil Sorahan, Sorahan, Conor Humphries, Simon Cameron, Moore, Kirsten Donovan Organizations: Ryanair, Europe's, Irish, Boeing, MAX, Thomson Locations: DUBLIN, Europe

☆ Sterling rises after best week in a year as dollar slide continues
▼ + stars: | 2023-11-06 | by ( Harry Robertson | ) www.reuters.com time to read: +2 min

UK pound coins plunge into water coloured with the European Union flag colours in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - The pound rose on Monday, extending the previous week's rally, as a slide in U.S. bond yields continued to weigh on the dollar. Sterling was last up 0.23% at $1.2409, trading at its highest in more than a month after posting its best weekly performance in a year last week with a rise of 2.1%. The Bank of England also held interest rates, at a 15-year high of 5.25%, last week as it painted a gloomy picture of the UK economy. Gross domestic product data, due on Friday, is expected to show the UK economy shrank 0.1% in the third quarter after growing 0.2% in the three months to June.

Persons: Dado, Sterling, Francesco Pesole, Harry Robertson, Kirsten Donovan Organizations: European Union, REUTERS, U.S, Federal Reserve, ING, Graphics Sterling, Financial, Bank of, Gross, Thomson Locations: U.S, American, Bank of England

☆ Siemens loses London lawsuit over 2 bln stg HS2 contract
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] A HS2 high-speed rail logo is displayed on a fence surrounding a construction site at Euston in London, Britain, July 30, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Siemens (SIEGn.DE) on Monday lost a legal challenge over a 2 billion pound ($2.48 billion) contract to build a fleet of new trains for Britain's beleaguered HS2 high-speed rail project. HS2 said the contract, which includes a 12-year maintenance and services deal, was worth around 2 billion pounds when it was awarded. But Judge Finola O'Farrell dismissed Siemens' case on Monday, saying in a written ruling that Siemens had not established the contract was awarded unlawfully and the company was therefore "not entitled to any damages". Monday's ruling is a rare piece of good news for the controversial HS2 project, which was originally planned to link London to the north of England from 2026.

Persons: Hollie Adams, HS2, Finola O'Farrell, Rishi Sunak, Sam Tobin, Kirsten Donovan Organizations: REUTERS, Siemens, Siemens Mobility, HS2, Bombardier Transportation, France's Alstom, Hitachi, Alstom, British, Thomson Locations: Euston, London, Britain, England, Manchester, Birmingham

☆ Aeva inks sensor deal with Nikon for industrial machines
▼ + stars: | 2023-11-06 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Courtesy of Aeva Inc/Handout via REUTERS/File photo Acquire Licensing RightsNov 6 (Reuters) - Aeva Technologies (AEVA.N) on Monday said that it has signed a deal to produce sensors for Nikon (7731.T) industrial machines that can scan objects like cars coming off an assembly line for microscopic defects. While Aeva is targeting the automotive market, its sensor can also be used in other applications that require three-dimensional scanning, and in 2021 the company said it was working with Nikon to improve the Japanese firm's industrial equipment. The Aeva sensor aims to make the machines smaller and cheaper so that more vehicles can be inspected. Aeva said it expects to start supplying sensors to Nikon next year, with Nikon products with Aeva sensors hitting the market in 2025. Salehian declined to say how many sensors Aeva will ship or how much revenue the company expects from the Nikon deal.

Persons: Salehian, Aeva, Stephen Nellis, Kirsten Donovan Organizations: Aeva Inc, REUTERS, Aeva Technologies, Nikon, Reuters, Thomson Locations: , California, View , California, San Francisco

☆ Don't confuse customers over stablecoins, Bank of England warns lenders
▼ + stars: | 2023-11-06 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsCompanies Bank of England FollowLONDON, Nov 6 (Reuters) - The Bank of England told lenders on Monday that they must avoid any risk that customers might confuse new forms of e-money like 'stablecoins' with standard deposits which are guaranteed against bank failures. Stablecoins are a cryptocurrency backed by a traditional currency such as sterling or the U.S. dollar, or an asset. To the extent that systemic payment systems using stablecoins pose similar risks as other systemic payment systems, they should be subject to equivalent regulatory standards, the BoE said. There are no systemic sterling stablecoins, but Tether, issuer of the world's largest stablecoin, pegged to the U.S. dollar and backed by assets including U.S. government debt, said last year it would launch a sterling stablecoin.

Persons: Hollie Adams, BoE, stablecoins, Sheldon Mills, David Milliken, Tom Wilson, Kylie MacLellan, Kirsten Donovan, Bernadette Baum Organizations: Bank of England, City of, REUTERS, Companies Bank of England, U.S ., Financial, European, Thomson Locations: City, City of London, Britain

☆ Europe needs bigger banks but mergers hard without banking union -Intesa CEO
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 6 (Reuters) - European banks need to join forces if the region is to withstand competition from the United States and China but without a banking union, cross-border mergers do not make sense, the head of Italy's biggest bank Intesa Sanpaolo (ISP.MI) said on Monday. "You need synergies and the area where investors are looking for synergies is cost," he said, adding it was not easy "to deliver real cross-border synergies on the cost side". "I think we'll need to wait for a banking union to see real, significant cross-border consolidation. Orcel last month said Europe was destined to "irrelevance" if it did not work to unify its capital markets and create a banking union that allowed lenders to compete with U.S. rivals and adequately finance the region's economy. Intesa has a 30% market share of deposits and mutual funds, and 20% of insurance products, the CEO said.

Persons: Carlo Messina, Andrea Orcel, Messina, Intesa, Andrea Enria, Valentina Za, Kirsten Donovan Organizations: MILAN, CNBC, U.S, Central Bank's, Thomson Locations: United States, China, Europe, Orcel, Messina, Italy

The Bank of Nova Scotia (Scotiabank) logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie Acquire Licensing RightsTORONTO, Nov 3 (Reuters) - The chief operating officer of Bank of Nova Scotia's (BNS.TO) Canadian banking unit, Kevin Teslyk, has left the company, according to an internal memo seen by Reuters, the latest in a series of management changes under CEO Scott Thomson. James Neate, president of corporate and investment banking and Shawn Rose, chief technology officer have also left Scotiabank, the memo said. Canadian banks, including Royal Bank of Canada (RY.TO), Bank of Montreal (BMO.TO), have announced job cuts due to higher costs forcing. Neate, who has held senior executive roles in retail banking, commercial banking and wealth management, among others, will leave the bank at the end of December, according to the memo.

Persons: Chris Wattie, Kevin Teslyk, Scott Thomson, James Neate, Shawn Rose, Aris Bogdaneris, Dan Rees, Thomson, Mike Rizvanovic, Rose, Nivedita Balu, Kirsten Donovan, Louise Heavens Organizations: of Nova, REUTERS, Rights TORONTO, Bank of Nova, Reuters, Scotiabank, ING Group, Aris, Scotia, Royal Bank of Canada, Bank of Montreal, Thomson Locations: of Nova Scotia, Ottawa , Ontario, Canada, California, Toronto

☆ Exclusive: Hedge fund Caxton wins on bond rout to claw back performance losses - sources
▼ + stars: | 2023-11-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

They added that the fund had about a negative 2% performance for the year to the end of October. The CGI fund, at the end of June had been down about 8%, added one of the sources. The CGI fund did well from a view that the Bank of Japan would ease its ultra-loose monetary policy, said two of the sources. They also said short bets that bond prices would fall, as well as bets the U.S. Treasury yield curve would steepen were some of the top earners for the fund. Caxton's CGI fund also profited from the difference between Japanese and U.S. stock prices, the sources said, adding that losses on commodities bets in gold and a yen hedge detracted from performance.

Persons: Dado Ruvic, Andrew Law's, Caxton, Jerome Powell, Bruce Kovner, Nell Mackenzie, Carolina Mandl, Svea Herbst Bayliss, Maiya, Dhara Ranasinghe, Kirsten Donovan, David Evans Organizations: REUTERS, Caxton Associates, Caxton Global Investments, Bank of Japan, Treasury, Federal Reserve, Thomson

☆ Ratcliffe to invest extra $300 mln on top of 25% stake in Manchester United -source
▼ + stars: | 2023-11-03 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +2 min

Shares in United rose 4% to $18.85 on the news, which was first reported by Sky News. Manchester United declined to respond to a Reuters request for comment. Ratcliffe founded Ineos in 1998 and is the chemical group's chairman and chief executive officer, with a two-thirds stake. Record 20-time English champions, United have more than 650 million fans worldwide, according to market research firm Kantar. ($1 = 0.8110 pound)Reporting by Prerna Bedi in Bengaluru; Editing by Shinjini Ganguli, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Ratcliffe, Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Ineos, Erik ten Hag, Prerna Bedi, Shinjini Ganguli, Kirsten Donovan Organizations: Premier, Sky News, Manchester United, Reuters, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, United, League, Premier League, Manchester City, Thomson Locations: Manchester, United, Qatar's Sheikh Jassim bin Hamad al Thani, Ineos, British, Bengaluru

☆ Canada says Alberta leaving CPP would add to economic uncertainty
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Susana Vera/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - If the Canadian province of Alberta carries out a threat to withdraw from the Canada Pension Plan (CPP) it would add to economic uncertainty and hurt everyone in the country, federal Finance Minister Chrystia Freeland said on Friday. The so-called Alberta Pension Protection Act would require Albertans to vote in favor of a pension plan for the province during a public referendum before the provincial government would seek to withdraw assets, said the statement. But when asked whether she found it realistic that Alberta was entitled to 53% of CPP assets in 2027, according to a study commissioned by the Alberta government, Freeland said she did not. Freeland also cautioned that the Alberta government would need to negotiate how Canadians could live and work anywhere in Canada without jeopardizing their retirement. "Alberta would need to negotiate complex time-consuming portability agreements with the CPP and with the Quebec pension plan," she said.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Danielle Smith's, Smith, Justin Trudeau, Pierre Poilievre, Maiya Keidan, David Ljunggren, Kirsten Donovan Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, Canada, federal, Conservative Party, Thomson Locations: Marrakech, Morocco, Canadian, Alberta, Canada, Quebec, Toronto, Ottawa

☆ Canada warns of economic uncertainty if Alberta quits national pension plan
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Susana Vera/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - Canada will face rising economic uncertainty if the province of Alberta carries out a threat to withdraw from the Canada Pension Plan (CPP), federal Finance Minister Chrystia Freeland said on Friday. Alberta Finance Minister Nate Horner later on Friday said the province would not leave fellow Canadians without a stable pension and its associated benefits. "For the past several weeks, Alberta has been having an open discussion about the possibility of establishing an Alberta Pension Plan that will benefit our seniors and workers," he said. The so-called Alberta Pension Protection Act would require Albertans to vote in favor of a pension plan for the province during a public referendum before the provincial government would seek to withdraw assets, the statement said. "Alberta would need to negotiate complex time-consuming portability agreements with the CPP and with the Quebec Pension Plan," she said.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Nate Horner, Justin Trudeau's, Danielle Smith's, Smith, Trudeau, Pierre Poilievre, Maiya Keidan, David Ljunggren, Kirsten Donovan, Paul Simao Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, Canada, federal, Alberta, Liberal, Danielle Smith's United Conservative Party, Conservative Party, Thomson Locations: Marrakech, Morocco, Canada, Alberta, Quebec, Toronto, Ottawa

☆ India authorises Apple, Dell, Lenovo and others to import laptops, tablets -sources
▼ + stars: | 2023-11-01 | by ( Shivangi Acharya | ) www.reuters.com time to read: +1 min

[1/2] A Dell laptop is seen for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW DELHI, Nov 1 (Reuters) - Apple (AAPL.O), Dell (DELL.N), HP (HPE.N), Samsung (005930.KS) and Lenovo (0992.HK) are among 110 firms authorised by India to import laptops, tablets and personal computers under a new system aimed at monitoring shipments, two government sources said. Acer (2353.TW), Xiaomi (1810.HK), IBM (IBM.N) and ASUS (2357.TW) have also been issued import authorisations, the two sources said, under India's new "import management system" effective from Wednesday. India announced the new system for laptops, tablets and personal computers last month after it rolled back an earlier plan to impose a licensing regime, following criticism from the industry and Washington. The sources declined to be named as details of the authorisations have not yet been made public.

Persons: Andrew Kelly, Shivangi Acharya, Kirsten Donovan Organizations: REUTERS, Dell, HP, Samsung, Lenovo, HK, IBM, ASUS, India, Washington . Companies, Thomson Locations: Manhattan , New York City, U.S, DELHI, India, Washington

☆ Britain to invest 300 million pounds in AI supercomputing
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

British Prime Minister Rishi Sunak delivers a speech on AI at Royal Society, Carlton House Terrace on October 26, 2023 in London, England. Funding for the "AI Research Resource" will be increased to 300 million pounds ($363.57 million) from a previously announced 100 million pounds, the government said at an AI safety summit aimed at charting a safe way forward for the rapidly evolving technology. "Frontier AI models are becoming exponentially more powerful," British Prime Minister Rishi Sunak said on social media platform X. "This investment will make sure Britain’s scientific talent have the tools they need to make the most advanced models of AI safe." The machines, which will be running from summer next year, will be used to analyse advanced AI models to test safety features, as well as to drive breakthroughs in drug discovery and clean energy, the government said.

Persons: Rishi Sunak, Peter Nicholls, Bristol's, Kylie MacLellan, Kirsten Donovan Organizations: British, Royal Society, Carlton, Terrace, REUTERS, Nvidia, Hewlett Packard Enterprise, Dell, SME, Thomson Locations: London, England, Britain, Cambridge, Bristol

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

☆ Uniper swings to $10 billion net profit as gas prices fall
▼ + stars: | 2023-10-31 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

A person stands at escalators near the Uniper logo at the utility's firm headquarters in Duesseldorf, Germany, July 8, 2022. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Uniper SE FollowGazprom PAO FollowFRANKFURT, Oct 31 (Reuters) - Germany's Uniper (UN01.DE), which was bailed out during Europe's energy crisis, swung to a nine-month net profit of 9.77 billion euros ($10.35 billion), boosted by falling gas prices that positively impacted future provisions. The result compares with a net loss of 40.3 billion euros in the same period last year, when ballooning costs to replace Russian gas threw the company into its biggest crisis ever, triggering a government rescue. The results come a week after Uniper detailed its outlook for 2023, expecting adjusted operating profit (EBIT) of 6 billion to 7 billion euros and full-year adjusted net profit of 4 billion to 5 billion euros. At the end of September, liabilities tied to derivatives, which grow or shrink in line with gas price developments, stood at 26 billion euros, down from 216 billion a year earlier.

Persons: Wolfgang Rattay, Jutta Doenges, Christoph Steitz, Rachel More, Kirsten Donovan Organizations: REUTERS, Gazprom PAO, Gazprom, Thomson Locations: Duesseldorf, Germany, FRANKFURT, Frankfurt, Ukraine

☆ Swiss National Bank posts 12 bln franc Q3 loss
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

A general view shows the building of the Swiss National Bank (SNB) in Zurich, Switzerland March 7, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Oct 31 (Reuters) - The Swiss National Bank on Tuesday posted a 12.04 billion franc ($13.36 billion) loss for the third quarter as the central bank lost money on its gold, foreign currency investments and Swiss franc positions. In addition, the central bank reported a 2.66 billion franc loss from Swiss franc positions, mainly as a result of interest paid to commercial banks. The SNB's results have been highly volatile in recent years, due to the vast level of foreign currency investments it built up during a long campaign to weaken the Swiss franc. The central bank posted a 132.5 billion Swiss franc loss in 2022, the biggest in the central bank's 115-year-history.

Persons: Arnd, John Revill, Friederike Heine, Kirsten Donovan Organizations: Swiss National Bank, Rights, Swiss, Thomson Locations: Zurich, Switzerland

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