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☆ India court acquits 69 Hindus of murder of 11 Muslims during 2002 riots
▼ + stars: | 2023-04-20 | by ( ) edition.cnn.com time to read: +2 min

An Indian court on Thursday acquitted 69 Hindus, including a former minister from the ruling Bharatiya Janata Party (BJP), of the murder of 11 Muslims during communal riots in the western state of Gujarat in 2002. A total of 86 Hindus were accused of the killings in the Naroda Gam district of Ahmedabad, 17 of whom died during trial. We will study the grounds on which the court has acquitted the accused persons,” Pathan said. Kodnani was also an accused in a case in which 97 people were killed in the 2002 riots. At least 1,000 people, mostly Muslims, were killed across Gujarat in the 2002 riots.

☆ Trudeau and Biden call on Russia to release WSJ reporter
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - U.S. President Joe Biden and Prime Minister Justin Trudeau of Canada called on Wednesday for the immediate release of a Wall Street Journal reporter arrested in Russia on spying charges. Russia's Federal Security Service said reporter Evan Gershkovich, a U.S. citizen, was arrested last week because he was "suspected of spying in the interests of the American government". The Wall Street Journal denied Gershkovich was spying. "The prime minister and the president spoke about Russia’s illegal detention of Wall Street Journal reporter Evan Gershkovich and called for his immediate release," Trudeau's office said in a statement following a telephone call between the leaders. In their telephone call, Trudeau and Biden also spoke about migration and implementation of a Safe Third Country Agreement, Trudeau's office said.

☆ Chinese spy balloon gathered intelligence on US military sites- NBC News
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

April 3 (Reuters) - A Chinese balloon that flew across the United States was able to gather intelligence from several U.S. military sites, despite the Biden administration's efforts to prevent it from doing so, NBC News reported on Monday, citing two current senior U.S. officials and one former senior administration official. The balloon, controlled by Beijing, was able to make multiple passes over some of the sites in February, at times flying in a figure-eight formation, NBC cited the officials as saying. "The intelligence China collected was mostly from electronic signals, which can be picked up from weapons systems or include communications from base personnel, rather than images," NBC cited the officials as saying. The balloon, which Beijing denies was a government spy vessel, spent a week flying over the United States and Canada early in February before being shot down off the Atlantic Coast on President Joe Biden's orders. The Chinese balloon incident prompted U.S. Secretary of State Antony Blinken to postpone a planned visit to Beijing and further strained relations between Washington and Beijing.

☆ Canada set to approve Rogers takeover of Shaw with transfer -Globe and Mail
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Canada is set to approve on Friday a transfer of wireless licenses that will finally settle Rogers Communications Inc's (RCIb.TO) C$20 billion ($15 billion) bid for Shaw Communications Inc (SJRb.TO), the Globe and Mail reported. Rogers and Shaw agreed to sell Freedom Mobile to Quebecor for C$2.85 billion to win government approval for the merger. The minister will approve the transfer of Shaw's licenses to Quebecor's Videotron Ltd with a number of conditions attached, as well as financial penalties associated with breaking those conditions, the Globe and Mail said. The sale of Freedom Mobile to Quebecor is expected to close by March 31. Rogers in February extended the deadline for the deal to March 31 for the fourth time, as the companies awaited the final nod from Champagne.

The deal was opposed by consumer advocates and politicians on worries it could lead to higher prices due to an overlap between Rogers and Shaw's wireless divisions. Rogers reaffirmed its conditions, including setting up a western headquarters in Calgary, creating 3,000 new jobs in Western Canada and investing C$6.5 billion to upgrade connectivity. If it breaches the commitments, Rogers (RCIb.TO) will have to pay a fine of as much as C$1 billion, Champagne said at a news conference in Ottawa. Champagne said if wireless prices do not go lower, he would seek further legislative and regulatory powers. Rosa Addario, a spokesperson for internet advocacy group OpenMedia, said the concessions sought by the government were unlikely to result in lower prices.

☆ Two U.S. army helicopters crash during training in Kentucky
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 30 (Reuters) - Two U.S. Army Black Hawk helicopters crashed during a training mission over Kentucky on Wednesday night, the U.S. military said. The status of the crew members was not immediately known, Army spokeswoman Nondice Thurman said in a statement early on Thursday to Reuters, without detailing the number of people who were on board. However, Kentucky governor Andy Beshear said in a post on Twitter that fatalities were expected and the Kentucky State Police and the state's Division of Emergency Management were responding to the accident. loadingCrew members were flying two Black Hawk helicopters that crashed at around 10:00 PM ET (0200 GMT Thursday) in Kentucky's Trigg County, Thurman said. Reporting by Akriti Sharma and Juby Babu in Bengaluru; Editing by Himani Sarkar and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Fitch says contagion risks loom over two Adani entities
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Ratings agency Fitch said two Adani Group subsidiaries are exposed to "heightened contagion risks", possibly affecting their financial flexibility, due to governance weakness at the parent conglomerate and other Adani group companies. Fitch said that Adani Transmission Ltd (ADAI.NS) and Adani Ports and Special Economic Zone (APSE.NS) are prone to risks, according to a note released late on Tuesday. Fitch early last month said it had seen no immediate impact on its ratings of Adani Group entities and their securities following short-seller Hindenburg Research's Jan. 24 report on the conglomerate. Fitch still said "cash flow generation from January 2023 to March 2024 will boost the liquidity of the rated groups." Reporting by Juby Babu in Bengaluru and Praveen Paramasivam in Chennai; Editing by Sonia Cheema, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Salesforce says Elliott will not nominate directors to board
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Salesforce Inc (CRM.N) said on Monday activist investor Elliott Management Corp has decided to not proceed with director nominations to the board of the cloud-based software provider, due to its strong earnings and 2024 transformation initiatives. "Salesforce and Elliott have committed to continue the productive working relationship they have developed together," a joint statement from the companies said. Earlier this month, Reuters reported Elliott nominated a slate of directors to Salesforce's board. Elliott unveiled its multi-billion dollar stake in Salesforce January. Other hedge funds with stakes include Jeff Ubben's Inclusive Capital Partners, Jeff Smith's Starboard Value, ValueAct Capital and Third Point.

☆ Musk denies report on SpaceX's plans for new funding from Saudi, UAE
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

March 24 (Reuters) - Elon Musk, the billionaire founder of SpaceX, on Friday denied a media report from earlier this week that said investors from Saudi Arabia and the United Arab Emirates were planning to invest in a multi-billion dollar funding round in the company. A unit of Saudi Arabia's investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for SpaceX, the Information had reported on Wednesday, citing people familiar with the discussions. Musk tweeted "not true" responding to the report. The funding round is expected to value the rocket maker at about $140 billion, the report added. SpaceX raised $2 billion in 2022 and $2.6 billion in 2020, according to venture capital firm Space Capital.

☆ Sanofi, Regeneron unveil 'blow-out' smoker's lung drug data
▼ + stars: | 2023-03-23 | by ( Ludwig Burger Jubabu | Ludwig Burger | ) www.reuters.com time to read: +4 min

Sanofi and Regeneron said in a statement on Thursday a Phase III trial involving 939 current or former smokers also showed improvements in lung function, quality of life and COPD respiratory symptoms. JP Morgan analyst Richard Vosser said the trial update had "blow-out data" in store for investors, and that market consensus for 2027 Dupixent sales of 15.7 billion euros would likely be topped-up by between 1 and 2 billion euros. The anti-inflammatory drug accounted for 8.3 billion euros, or more than 19% of the French group's overall sales of 43 billion euros, last year. Sanofi reports combined global Dupixent sales from its alliance with Regeneron. Sanofi and Regeneron on Tuesday announced the European Commission had approved Dupixent to treat severe atopic dermatitis in young children.

☆ Sanofi, Regeneron's Dupixent shows promise as 'smoker's lung' drug
▼ + stars: | 2023-03-23 | by ( Ludwig Burger Jubabu | Ludwig Burger | ) www.reuters.com time to read: +3 min

In a late stage trial Dupixent, jointly developed with Regeneron (REGN.O), led to a 30% reduction in moderate or severe acute exacerbations of chronic obstructive pulmonary disease (COPD), a potentially deadly disease marked by progressive lung function decline. Sanofi previously forecast Dupixent would generate up to 13 billion euros ($14.2 billion) in sales in its best year as it seeks to widen its use across several inflammatory conditions. The anti-inflammatory drug accounted for 8.3 billion euros, or more than 19%, of the French group's overall sales of 43 billion euros last year. Sanofi reports combined global Dupixent sales from its alliance with Regeneron. Dupixent was also approved by the EC to treat eosinophilic esophagitis, a condition that damages the esophagus, in January.

☆ Arkansas enacts law restricting school bathroom use by transgender people
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mike SegarMarch 21 (Reuters) - Arkansas Governor Sarah Huckabee Sanders on Tuesday signed a law targeting the trans community, prohibiting transgender people from using the restroom that matches their gender identity at public schools. The law requires schools to provide reasonable accommodations, that include single-person restrooms and changing areas. School authorities that violate the law can face fines of at least $1,000, and parents can also file lawsuits to enforce the measure. Similar laws directed at transgender youth have been enacted in Alabama and Oklahoma. read moreRepublican legislators across the United States have escalated a campaign to ban certain healthcare for transgender youth, in some cases seeking to charge parents and doctors with child abuse if they provide treatment.

☆ Student accused of shooting two faculty members in Denver found dead
▼ + stars: | 2023-03-22 | by ( Keith Coffman | ) www.reuters.com time to read: +2 min

DENVER, March 23 (Reuters) - The student who was accused of shooting and wounding two faculty members at his Denver high school has been found dead near his vehicle in Park County. The East High School student fled the shooting scene on foot immediately after Wednesday's violence, which unfolded just before 10 a.m. local time (1600 GMT). Neither police nor education authorities disclosed the specific conduct that led the school to adopt an individualized security protocol for the student. A wanted bulletin issued after the shooting included a photo of the student and of a car similar to one he might be driving. The dean of the school and other staff members were conducting the search when several shots were fired, and the student fled, apparently still armed with the handgun used in the attack.

☆ US officials study ways to expand FDIC coverage to all deposits -Bloomberg News
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +1 min

March 20 (Reuters) - U.S officials are looking at ways to temporarily expand Federal Deposit Insurance Corp (FDIC) coverage to all deposits, Bloomberg News reported on Monday. U.S. Treasury Department staff are studying whether federal regulators have enough emergency authority to insure deposits above the current $250,000 cap on accounts without the consent of Congress, the report said, citing people familiar with the matter. One legal framework that is being looked at for expanding FDIC insurance would use the Treasury Department's authority to take emergency action and lean on the Exchange Stabilization Fund, the report added. "Due to decisive recent actions, the situation has stabilized, deposit flows are improving and Americans can have confidence in the safety of their deposits," a U.S. Treasury spokesperson told Bloomberg. Reporting by Gokul Pisharody and Juby Babu in Bengaluru; Editing by Neil Fullick and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ China's c.bank warns SVB failure shows impact of rapid global rate hikes- state media
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +1 min

March 18 (Reuters) - A senior official at the People's Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported. Silicon Valley Bank's balance sheet characteristics made it more sensitive to interest rates changes and ultimately led to risk, the newspaper cited him as saying. "Based on the current situation, there is still uncertainty about whether inflation in the major developed economies will fall significantly in the short term, and continuing to maintain relatively high interest rates may also have an adverse impact on the steady operations of the banking and financial system," he said. SVB Financial Group (SIVB.O) on Friday sought protection under Chapter 11 of the U.S. bankruptcy code, days after its former unit Silicon Valley Bank was taken over by U.S. regulators. Reporting by Juby Babu in Bengaluru and Brenda Goh in Shanghai; Editing by William Mallard and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Moody's downgrades credit ratings on First Republic Bank
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +1 min

March 17 (Reuters) - Ratings agency Moody's on Friday downgraded the credit of First Republic Bank (FRC.N), citing deterioration in the bank's financial profile and challenges faced by the lender due to increased reliance on funding amid deposit outflows. The agency cut the bank's long-term issuer rating and local currency subordinate ratings to B2 from Baa1 and long-term local currency bank deposit rating to Baa3 from A1, among others. The outlook on the issuer rating and long-term bank deposits of First Republic Bank remain under review, Moody's said. "In addition, the rating agency noted that while the news of the banking consortium's deposits is positive in the short-run, the longer-run path for the bank back to sustained profitability remains uncertain." Reporting by Akriti Sharma and Juby Babu in Bengaluru; Editing by Sandra Maler and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's Couche-Tard to buy some TotalEnergies stations in $3.3 bln deal
▼ + stars: | 2023-03-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The companies said that under the deal the Canadian firm would buy all of TotalEnergies' service stations in Germany and the Netherlands, as well as purchasing a 60% stake in the French company's stations in Belgium and Luxembourg. "Service stations must expand from just selling fuel to become fully-fledged service hubs," TotalEnergies CEO Patrick Pouyanne said in a joint statement. Since 2015, TotalEnergies has divested its service station networks in Italy, Switzerland and the United Kingdom. Couche-Tard said it plans to fund the deal with available cash along with existing credit facilities and new debt. In January 2021, Couche-Tard's $20 billion approach for Carrefour, Europe's largest food retailer, was rejected by the French government on food security concerns.

☆ S&P says SVB fallout won't lead to rating actions on APAC banks
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

March 16 (Reuters) - Ratings agency S&P on Thursday said the fallout from Silicon Valley Bank's (SIVB.O) collapse may not lead to any rating actions on Asia-Pacific banks as they are well placed to absorb potential contagion effects. The direct exposure of APAC banks to SVB is negligible and secondary impacts are manageable, the agency said, adding that some Japanese banks that have large holdings of U.S. government bonds are the most exposed to weakened market sentiment, but not to the extent of initiating rating actions. "A key rating factor across the region is continuing depositor and stakeholder confidence," S&P said. The collapse of Silicon Valley Bank has sparked a crisis of confidence in the banking sector, leading to a run on deposits at a host of regional banks despite U.S. authorities launching emergency measures to shore up confidence. read more read moreReporting by Juby Babu in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto group DCG seeks new partners for portfolio firms amid SVB collapse - CoinDesk
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Crypto conglomerate Digital Currency Group (DCG) is looking to find new banking partners for portfolio companies following the collapse of Silicon Valley Bank (SIVB.O), Signature Bank (SBNY.O) and Silvergate (SI.N), CoinDesk reported on Tuesday, citing messages viewed by the outlet. Santander (SAN.MC), HSBC (HSBA.L) and Deutsche Bank (DBKGn.DE) are still willing to connect with crypto firms, CoinDesk said, after recent banking failures in the United States left crypto firms and tech startups stranded and hunting for new banking partners. DCG has also reached out to BlackRock (BLK.N), JPMorgan (JPM.N) and Bank of America (BAC.N), the report added. Banks may restrict some services for crypto firms, such as brokerage and money market services and the ability to wire money to third parties, according to the messages seen by CoinDesk. Traditional banks may set up banking accounts for crypto firms, but would place restrictions based on the level of crypto exposure, the report added.

☆ Crypto group DCG looking for new partners following SVB collapse - CoinDesk
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

☆ JPMorgan among suitors for SVB Financial in deal excluding SVB Bank- Axios
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - JPMorgan Chase & Co (JPM.N) is in talks to acquire SVB Financial Group (SIVB.O) in a deal that would exclude commercial banking unit Silicon Valley Bank, which is currently under U.S. control, Axios reported on Monday, citing sources. PNC Financial Services Group Inc (PNC.N), Apollo Management (APO.N) and Morgan Stanley (MS.N) are also in talks with the defunct lender, Axios reported, adding Apollo was interested in financing a deal or acquiring some of the business. A PNC spokesperson told Reuters that it was "not in talks to acquire SVB Financial or Silicon Valley Bank," while the other companies did not respond to requests for comment. Reuters reported on Sunday that Silicon Valley Bank had received interest from PNC and Royal Bank of Canada (RY.TO) but that had cooled on Sunday as U.S. regulators invited bids for the failed lender. The U.S. Federal Deposit Insurance Corporation (FDIC) had given a Sunday afternoon deadline for bids for the failed Silicon Valley Bank, Reuters reported.

☆ U.S. Senate Republican leader McConnell hospitalized after fall
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: 1 min

March 8 (Reuters) - U.S. Senate Republican leader Mitch McConnell has been hospitalized after tripping at a hotel in Washington on Wednesday, his spokesperson said in a statement. "This evening, Leader McConnell tripped at a local hotel during a private dinner. McConnell, 81, was first elected to the U.S. Senate in 1984. He served as the Senate majority leader from 2015 to 2021, and the Senate minority leader since then. Before his election to the Senate, he served as judge-executive of Jefferson County, Kentucky from 1978.

It was not clear what new support China, the world's biggest sovereign creditor, had extended to Sri Lanka on Monday. By end-2020, Sri Lanka owed the Export-Import Bank of China $2.83 billion or 3.5% of the island's external debt, according to IMF data. Sri Lanka needs to repay about $6 billion on average each year until 2029 and will have to keep engaging with the IMF, Wickremesinghe said. Countries in debt distress such as Zambia and Sri Lanka have faced unprecedented delays in securing IMF bailouts as China and Western economies have clashed over how to provide debt relief. Sri Lanka has been waiting for about 187 days to finalise a bailout after reaching a staff-level deal with the IMF.

☆ Sri Lanka expects approval of $2.9 billion IMF deal after China support
▼ + stars: | 2023-03-07 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +4 min

"Sri Lanka has completed all prior actions that were required by the IMF," Wickremesinghe said. It was not clear what new support China, the world's biggest sovereign creditor, extended to Sri Lanka on Monday. By end-2020, Sri Lanka owed the Export-Import Bank of China $2.83 billion or 3.5% of the island's external debt, according to IMF data. Sri Lanka needs to repay about $6 billion on average each year until 2029 and will have to keep engaging with the IMF, Wickremesinghe said. Sri Lanka has been waiting for about 187 days to finalise a bailout after reaching a staff-level deal with the IMF.

☆ Sri Lanka says 'positive news' coming from IMF on $2.9 bln package
▼ + stars: | 2023-03-07 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, March 7 (Reuters) - Sri Lanka is on the verge of getting "very positive news" from the International Monetary Fund on a $2.9 billion programme, a government minister said on Tuesday, while a senior source said it had also won debt restructuring support from China. The island nation of 22 million is struggling with its worst economic crisis in more than seven decades. "Sri Lanka is on the verge of getting very positive news from the IMF," the junior finance minister, Shehan Semasinghe, told parliament. "The IMF programme is essential for us and Sri Lanka has worked very hard since last September to secure it." A senior Sri Lankan government official said the Export-Import Bank of China had written to the IMF supporting Sri Lanka's debt restructuring programme, which is critical to securing final approval for the loan.

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