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☆ Reruns and reality fill out strike-struck fall TV season
▼ + stars: | 2023-09-07 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

REUTERS/Todd Korol/File Photo Acquire Licensing RightsLOS ANGELES, Sept 7 (Reuters) - Broadcast television networks kick off the fall TV season this month with strike-depleted lineups featuring game shows, reruns and a 72-year-old widower looking for love in the reality TV dating pool. The fall season has been a staple of American TV for decades, the time to roll out the best that broadcast TV has to offer. New episodes of scripted shows will be in much shorter supply. ABC's hit comedy "Abbott Elementary," Paramount Network's top-rated drama "Yellowstone" and NBC's long-running crime series "Law & Order" will show reruns. It’s time for Sad TV Fall," the Los Angeles Times wrote.

Persons: Kevin Costner, Todd Korol, Gordon Ramsay, Brad Adgate, ABC's, Abbott, We've, Dan Harrison, Guy, Steve Kern, Kern, Dick Wolf's, Frasier, Kelsey Grammer, Lisa Richwine, Mary Milliken, Jonathan Oatis Organizations: Calgary Stampede, REUTERS, Fox, CBS, Networks, Hollywood, Actors, Paramount, Walt Disney, Hot Labor, Sad, Los Angeles Times, Nielsen, ABC, Disney, Charter Communications, Fox Entertainment, NBC, NBC Entertainment, Paramount Global, Paramount Network, Netflix, Apple, Thomson Locations: Calgary , Alberta, Canada, Midwestern, U.S, Chicago, Sydney

☆ Cummins, Daimler, PACCAR form joint venture for US battery cell production
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer Acquire Licensing RightsSept 6 (Reuters) - Accelera, a zero-emissions business unit of Cummins (CMI.N), Daimler Trucks & Buses US Holding and PACCAR (PCAR.O) said on Wednesday they formed a joint venture to advance battery cell production in the United States. Daimler Truck, Accelera and PACCAR will each own 30% of the joint venture, which will initially focus on LFP battery technology family for commercial battery-electric trucks. "This planned joint venture enables economies of scale beyond Daimler Truck," said Martin Daum, CEO of Daimler Truck. LFP battery-cell maker EVE Energy (300014.SZ) will also serve as the technology partner in the joint venture with a 10% ownership. LFP battery cells were developed in the United States, but Chinese companies such as BYD (002594.SZ) and CATL (300750.SZ) currently dominate global production.

Persons: Daimler, Fabian Bimmer, Martin Daum, Nathan Gomes, Krishna Chandra Organizations: IAA Transportation, REUTERS, Cummins, Daimler Trucks, Toyota, Ford Motor, Hyundai, Daimler, EVE Energy, Thomson Locations: Hanover, Germany, United States, Bengaluru

While such "carriage disputes" are commonplace in the media world, with TV channels going dark as cable companies negotiate with media companies over how much its channels are worth and how to package channels, this fight is different. Companies like Charter say rising distribution fees are forcing cable companies to increase prices, causing consumers to leave. The nation’s second-largest cable operator said viewership for Disney’s sports, entertainment and children’s programming has declined as the media conglomerate invested in its Disney+ streaming service. Disney is trying to manage declining cable subscribers as it builds streaming offerings. It wants to keep as many cable subscribers as possible while it prepares to offer ESPN directly to consumers on an app.

Persons: Dado Ruvic, Walt Disney, Christopher Winfrey, We’re, Winfrey, “, SVB, Disney, Rich Greenfield, Dawn Chmielewski, Lisa Richwine, Josie Kao Organizations: REUTERS, Charter Communications, ESPN, ABC, Disney, Charter's, U.S, Media, Charter, FX, Los Angeles . Companies, NFL, NBA, Hulu, Thomson Locations: United States, New York, Los Angeles

The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. The most traded stock in the S&P 500 was Tesla Inc , with $32.6 billion worth of shares exchanged during the session. For the week, the S&P 500 rose 2.50%, the Dow added 1.43% and the Nasdaq climbed 3.25%. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.1-to-one ratio. The S&P 500 posted 28 new highs and 20 new lows; the Nasdaq recorded 84 new highs and 90 new lows.

Persons: Keith Buchanan, Walt Disney, Brendan McDermid, Lululemon, Rosalind Brewer, Shristi Achar, Noel Randewich, Sruthi Shankar, Shounak Dasgupta, Richard Chang Organizations: Dell, Nasdaq, Dow, Disney, Charter Communications, Labor, Federal Reserve, GLOBALT Investments, ESPN, Charter's, Warner Bros Discovery, Paramount Global, Fox Corp, Tesla Inc, New York Stock Exchange, REUTERS, Dow Jones, Broadcom, Dell Technologies, Walgreens Boots Alliance, Thomson Locations: Atlanta, U.S, New York City, Bengaluru, Oakland , California

☆ Disney, Charter in talks for new distribution agreement
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 31 (Reuters) - Disney (DIS.N) said on Thursday that the company is in negotiations with Charter Communications (CHTR.O) for a new agreement after Disney pulled ESPN, ABC and other cable channels off Charter-owned Spectrum's cable service. Charter will host a webcast on Friday to discuss the status of its distribution agreement with Disney, the company said in a statement. Minutes later, a message appeared on the screen informing viewers that Disney had removed its programming, social media posts said. Cable operator Charter Communications (CHTR.O) serves more than 32 million customers in 41 states through its Spectrum brand, according to its website.

Persons: Brendan McDermid, Disney, Akanksha, Nivedita Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, Charter Communications, ESPN, ABC, Spectrum, U.S, Twitter, Cable, Disney Entertainment, Thomson Locations: New York, U.S, Bengaluru

The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July. Nonfarm payrolls increased by 187,000 jobs in August, against expectations of 170,000 additions, according to a Reuters poll of economists. Data for July was revised to show 157,000 job additions instead of the 187,000 additions reported before. The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market. Broadcom (AVGO.O) fell 4.5% as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.

Persons: Brendan McDermid, Nonfarm, Rick Meckler, salvos, Rosalind Brewer, decliners, Shristi Achar, Sruthi Shankar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Broadcom, Dell, Dow, Nasdaq, Federal, Labor, Data, Traders, Cherry Lane Investments, Fed, Institute for Supply Management, Dow Jones, Disney, Charter Communications, ESPN, Charter's, Dell Technologies, Walgreens Boots Alliance, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Spectrum is the second largest U.S. cable provider, serving 14.7 million homes across large markets such as New York and Los Angeles. Shares of Disney dropped 2.65% to a three-year low while Charter lost 3.4%. Warner Brothers Discovery Inc (WBD.O) fell 10%, Fox Corp (FOXA.O) shed 6%, Paramount Global (PARA.O) dropped 8%, while Comcast Corp (CMCSA.O), the largest U.S. cable provider, was down nearly 3%. Charter said Disney rejected its proposal for a new distribution deal that takes into account the rise of competing low-cost streaming services, which has fueled cord-cutting among its customers. The cable provider said it pays Disney $2.2 billion in annual programming costs, excluding advertising.

Persons: Brendan McDermid, Hogan, Disney, Dennis Dick, Chibuike Oguh, Amruta Khandeka, Khushi Singh, Michelle Price, Richard Chang Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Fox Corp, Warner Brothers Discovery Inc, Disney, Charter Communications, ESPN, ABC, Hollywood, Charter, Paramount Global, Comcast Corp, U.S, Riley, Triple D, Thomson Locations: New York, U.S, Los Angeles, Hollywood, Bengaluru

☆ Disney, Charter rates dispute spills over to TVs as ESPN, ABC go dark
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 1 (Reuters) - Disney (DIS.N) and Charter Communications (CHTR.O) traded salvos over their unresolved distribution agreement after channels like ESPN went dark on Thursday for customers of Charter's Spectrum cable service. Disney pulled ESPN, ABC and other cable channels off Spectrum, which serves giant markets like New York and Los Angeles, in the middle of U.S. Open tennis coverage. Charter flashed a message on screen that urged viewers to contact Disney. Charter serves more than 32 million customers in 41 states through its Spectrum brand, according to its website. Without a resolution, Charter customers will not have access to other live sporting events including college football, which just kicked off its season.

Persons: Brendan McDermid, salvos, Disney, Akanksha, Nivedita Bhattacharjee, Arun Koyyur Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, Charter Communications, ESPN, Charter's, ABC, U.S, Cable, Thomson Locations: New York, U.S, Los Angeles, Bengaluru

Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Salesforce (CRM.N) rallied following upbeat revenue forecasts from the cloud-based software provider as it benefits from price hikes and a resilient demand. The data follows smaller-than-expected growth in private payrolls on Wednesday that signaled a softening labor market and drove the S&P 500 to a three-week closing high. All three main indexes posted losses for August, with the S&P 500 and Nasdaq logging their first monthly declines since February. Reuters GraphicsUnofficially, the S&P 500 declined 0.16% to end the session at 4,507.54 points.

Persons: Brendan McDermid, Salesforce, Jake Dollarhide, Shristi Achar, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Nasdaq, Commerce Department, Traders, Investors, Longbow, Management, Labor Department, Reuters Graphics, Dow Jones, Baidu, Thomson Locations: New York City, U.S, Tulsa , Oklahoma, payrolls, Dismal, China, Bengaluru, Oakland , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The Commerce Department report showed the Personal Consumption Expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 3.3% in July on an annual basis, meeting expectations of a 3.3% rise. Excluding volatile food and energy components, the core PCE price index rose 4.2% in July, year-on-year, also in line with estimates. Investors are now awaiting the more comprehensive non-farm payrolls data due on Friday for more clarity on the Fed's likely monetary path. Dismal manufacturing data from China sent U.S.-listed shares of Chinese companies JD.com and Baidu down 3.1% and 1.8%, respectively.

Persons: Brendan McDermid, we've, Tony Roth, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Commerce Department, Traders, Wilmington Trust, Dow Jones, Baidu, NYSE, Thomson Locations: New York City, U.S, Wilmington, payrolls, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Shares of Salesforce (CRM.N), which also forecast upbeat quarterly sales, rose 5.6% before the bell as the cloud-based software provider benefits from price hikes and a resilient demand. Investors now await the price consumption expenditure (PCE) index for July, the Fed's preferred inflation measure, due at 8:30 a.m. The core PCE price index is expected to have climbed 4.2% in the 12 months through July, according to economists polled by Reuters. Among other stocks, Dollar General (DG.N) slumped 14.2% after the discount retailer cut its annual same-store sales forecast.

Persons: Brendan McDermid, Dow Jones, Salesforce, Russ Mould, AJ Bell, Raphael Bostic's, Alibaba, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Investors, Reuters, Graphics Traders, Atlanta Fed, PDD Holdings, Baidu, Dow e, Thomson Locations: New York City, U.S, Bengaluru

The boost to formal ties could bring billions of dollars of new private investment and some public funds to Vietnam's semiconductor industry. But industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry. There's also a risk of inadequate supply of trained chips software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam. The White House has not specified which segments of the chips industry in Vietnam will be prioritised, but U.S. industry executives have indicated that the back-end is a key growth sector. More private investment could come, especially if a significant share of the $500 million available under the U.S. CHIPS Act for global semiconductor supply chains ends up in Vietnam.

Persons: Joe Biden, Kevin Lamarque, Biden, Thanh, There's, Hung Nguyen, CHINA'S, Amkor, Janet Yellen, Hung, Francesco Guarascio, Steve Holland, Trevor Hunnicutt, Khanh Vu, Phuong, Muralikumar Organizations: U.S . Army, White, REUTERS, Companies, ASEAN Business Council, RMIT University Vietnam, Boston Consulting Group, Reuters, Intel, U.S . Treasury, Marvell, Thomson Locations: Vietnam, Washington , U.S, Hanoi, Washington, Vietnam Vietnam, HANOI, U.S, China, United States, Taiwan, Beijing, The U.S, Malaysia, India, Europe, Phuong Nguyen

☆ Thriving US makes Dollar General a tougher sell
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 31 (Reuters Breakingviews) - The U.S. economy’s gain is shaping up to be Dollar General’s (DG.N) loss. Dollar General sales grew a record 16.3% when Covid-19 slammed the U.S. in 2020, but rose only 2.5% when the economy reopened in 2021. During the recession years of 2008 and 2009, sales grew 9% and 9.5%, respectively. Dollar General now reckons earnings in the year to January 2024 could fall as much as 34%, compared to a previous estimate of a drop of up to 8%. Dollar General’s valuation is still far from discounted.

Persons: Jeff Owen, Ben Winck, Pernod Ricard, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Atlanta Federal, X, Microsoft, Thomson

☆ Europe's Gabon-exposed stocks slide after military coup
▼ + stars: | 2023-08-30 | by ( Danilo Masoni | ) www.reuters.com time to read: +2 min

MILAN, Aug 30 (Reuters) - Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resource-rich African country. "Shares are reacting to concerns over the backdrop in Gabon," said Investec equity analyst Alex Smith in London. However, Assala Energy, which current owner Carlyle (CG.O) has agreed to sell to Maurel, said its oil production in Gabon was unaffected. "Note Gabon production represents around 20% of group production. Oslo-listed Panoro Energy (PENR.OL) and BW Energy (BWE.OL) were down 5% and 7%, respectively, and U.S.-based Vaalco Energy (EGY.N) fell 13.8%.

Persons: Maurel, Eramet, Alex Smith, Ali Bongo, Carlyle, Investec's Smith, Danilo Masoni, Alun John, Kirsten Donovan Organizations: MILAN, Military, REUTERS, Staff, Rights, Assala Energy, Energy, BW Energy, Vaalco Energy, Thomson Locations: Gabon, London, France, Frankfurt, Germany, Gabonese, Mouila, OPEC, Oslo, U.S, Gabon's

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

The company hit the headlines in December 2021 after it laid off 900 employees via Zoom, and has since seen its profit dented by high mortgage rates that have dampened demand for home loans. "Here is an example of the exact wrong company at the wrong time - SPACs are hated and anything related to mortgage lending is hated at the moment," said Thomas Hayes, chairman at Great Hill Capital. U.S. mortgage rates have extended their surge as government bond yields rally. The popular 30-year fixed rate hit its highest level since 2000 last week, causing mortgage applications to hit a 28-year low. Amid ultra-low interest rates, the SPAC market exploded in 2021, but has since sputtered amid rising interest rates, high redemption rates and increased regulatory scrutiny.

Persons: SoftBank, Vishal Garg, Thomas Hayes, Bansari Mayur, Hannah Lang, Sriraj Kalluvila, Marguerita Choy Organizations: Home, Finance, Aurora, Corp, U.S . Securities, Exchange Commission, Great, Thomson Locations: Great Hill, Bengaluru, Washington

☆ Major indexes fall 1%, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of Nvidia (NVDA.O) ended barely higher after they hit a record high early in the session. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) dropped 3.4%. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped 12.9% after the retailer forecast annual profit largely below estimates. The S&P 500 posted 10 new 52-week highs and 13 new lows; the Nasdaq Composite recorded 35 new highs and 220 new lows.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Dow, Nasdaq, Federal, Longbow, Management, Dow Jones, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, NYSE, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ Wall St ends down sharply, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) also dropped. "As much as investors want to focus on Nvidia and want to focus on tech - and it's been a good year so far - this is still a market that is Fed obsessed. The market had gained along with Nvidia this week ahead of the company's report on hopes that its forecast could extend this year's artificial intelligence tech stock rally. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped after the retailer forecast annual profit largely below estimates.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Nasdaq, Federal, Dow Jones, Longbow, Management, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ Dollar Tree forecasts tepid annual profit on costs, pivot to spending on essentials
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

A Dollar Tree sign is seen outside the store in Washington, U.S., June 1, 2021. REUTERS/Erin Scott/File Photo Acquire Licensing RightsAug 24 (Reuters) - Dollar Tree (DLTR.O) forecast annual profit largely below estimates on Thursday, owing to higher costs and a shift in spending towards lower-margin consumables. Chief Financial Officer Jeff Davis said the profit outlook was also impacted by unfavorable shrink trends and higher diesel fuel prices. Dollar Tree, like retailers Target (TGT.N) and Macy's (M.N), has been plagued by a rise in retail shrink, where inventory is lost, damaged, or stolen. Dollar Tree said it now expects to earn in the range of $5.78 to $6.08 per share in fiscal 2023, compared with its prior outlook of between $5.73 and $6.13.

Persons: Erin Scott, Jeff Davis, Savyata Mishra, Pooja Desai Organizations: REUTERS, Target, Thomson Locations: Washington , U.S, Chesapeake , Virginia, Bengaluru

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. The reports came ahead of a speech by Fed Chair Jerome Powell at an annual central bank summit in Jackson Hole on Friday that would offer more clues on the direction for the U.S. interest rates. "The Jackson Hole last year was not good for markets. So you've got a little bit of a down shift into a wait-and-see mode to ascertain what Powell is going to sound like this year at Jackson Hole," said Hogan. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the NYSE and for a 1.29-to-1 ratio on the Nasdaq.

Persons: Robert Galbraith, Jerome Powell's, there's, Hogan, Jerome Powell, Jackson, you've, Powell, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, Federal, Riley, Microsoft, Apple Inc, Investors, Labor Department, Reuters, Traders, Dow Jones, Boeing, NYSE, Thomson Locations: Santa Clara , California, Jackson, Bengaluru

Aug 24 (Reuters) - Shares in online mortgage lender Better's (BETR.O) new public listing plummeted on Thursday as investors fretted over record-high mortgage rates. In the interim, roughly 95% of Aurora shareholders redeemed their holdings, leaving the trust account with just about $24 million at the end of June from about $283 million. Aurora went public in March 2021. Better is going public as U.S. mortgage rates continue to surge, with the popular 30-year fixed rate last week hitting the highest level since December 2000, helping drive mortgage applications to a 28-year low, the Mortgage Bankers Association said on Wednesday. Reporting by Hannah Lang and Lance Tupper in Washington; Editing by Mark Porter and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Aurora, Vishal Garg, Hannah Lang, Lance Tupper, Mark Porter, Jonathan Oatis Organizations: Nasdaq, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, Aurora, refinancings, Mortgage Bankers Association, Thomson Locations: SoftBank, Washington

India's Chandrayaan-3 is heading for a landing on the lunar south pole on Wednesday. NASA, by comparison, is on track to spend roughly $93 billion on its Artemis moon programme through 2025, the U.S. space agency's inspector general has estimated. Russia had been considering a role in NASA’s Artemis programme until 2021, when it said it would partner instead on China's moon programme. Space research firm Euroconsult estimates China spent $12 billion on its space programme in 2022. India’s last attempt to land failed in 2019, the same year an Israeli startup failed at what would have been the first privately funded moon landing.

Persons: India's, Russia's Luna, Narendra Modi, Ajey Lele, Luna, Vadim Lukashevich, NASA'S, Elon Musk’s, Musk, Jeff Bezos, ”, Bethany Ehlmann, Kevin Krolicki, Clarence Fernandez Organizations: REUTERS Acquire, Indian Space Research Organisation, ISRO, NASA, New, Manohar Parrikar Institute for Defence Studies, Elon Musk’s SpaceX, SpaceX, International Space, California Institute of Technology, Thomson Locations: Handout, BENGALURU, WASHINGTON, India, United States, Soviet Union, U.S, Ukraine, Russia, Moscow, China, Saudi, South Korean

☆ New York fines Avis Budget for denying car rentals to people who lack credit cards
▼ + stars: | 2023-08-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +1 min

[1/2] Budget rental car signage is seen at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/file photo Acquire Licensing RightsCompanies Avis Budget Group Inc FollowNEW YORK, Aug 15 (Reuters) - New York state on Tuesday fined Avis Budget Group (CAR.O) $275,000 for refusing to rent vehicles to customers who did not have credit cards. Letitia James, the state's attorney general, said the civil fine resolved charges that the operator of Avis Car Rental, Budget Rent a Car and Payless Car Rental violated a state law against requiring credit cards for vehicle rentals. A probe begun late last year following a customer complaint found that 74 out of 106 Avis and Budget locations across New York insisted on credit cards, while 32 accepted debit cards. An outside public relations firm for Avis Budget did not immediately respond to requests for comment.

Persons: John F, Andrew Kelly, Letitia James, James, Jonathan Stempel, Mark Potter Organizations: Kennedy International Airport, REUTERS, Avis Budget, Tuesday, Avis Budget Group, Rental, Avis, Thomson Locations: Queens , New York City, U.S, New York, , New Jersey

☆ First Solar audit reveals forced labor at Malaysia factory
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Miniatures of solar panel and electric pole are seen in front of First Solar logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsCompanies First Solar Inc FollowAug 15 (Reuters) - Top U.S. solar panel maker First Solar (FSLR.O) on Tuesday said an audit of its manufacturing operations had uncovered unethical labor practices at its Malaysia factory, sending the company's shares down about 5%. The revelation is the latest to tie the fast-growing solar energy industry to concerns about forced labor. First Solar said it had taken steps to return passports, wages and recruitment fees to the affected workers. First Solar also produces panels in the U.S. and Vietnam, and is planning to open a factory in India.

Persons: Dado Ruvic, Nichola Groom, Jonathan Oatis, Marguerita Choy Organizations: REUTERS, U.S, Thomson Locations: Malaysia, Xinjiang, Tempe , Arizona, U.S, Vietnam, India

☆ Focus: US space startups' latest struggles marked by layoffs, shake-ups
▼ + stars: | 2023-08-15 | by ( Joey Roulette | ) www.reuters.com time to read: +4 min

REUTERS/Mike Blake/File PhotoWASHINGTON, Aug 15 (Reuters) - U.S. space startups have slashed workforces and restructured operations to survive amid an investment drought that has grounded once-lofty aspirations. Those struggles follow the April bankruptcy filing by satellite launch firm Virgin Orbit, which was owned by billionaire Richard Branson. "The focus for investors in this space is very different than what it was a couple years ago. The financial headwinds faced by rocket startups have triggered pain elsewhere as well. It shifted much of its focus to government defense programs as its commercial customers face tight capital markets, CEO Laurienti said.

Persons: Mike Blake, Jeff Bezos, Richard Branson, Joe Laurienti, Caleb Henry, Chris Kemp, Will Marshall, Quilty's Henry, Laurienti, Joey Roulette, Ben Klayman, Matthew Lewis Organizations: REUTERS, Elon, SpaceX, Astra, Labs, Ursa, Reuters, Planet Labs, Thomson Locations: Long Beach , California, U.S, Denver, Washington

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