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☆ EU seals new US data transfer pact, but challenge likely
▼ + stars: | 2023-07-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, July 10 (Reuters) - The European Commission announced a new data transfer pact with the United States on Monday, seeking to end the legal uncertainty plaguing thousands of companies that transfer personal data across the Atlantic. The move was immediately criticised by non-profit group noyb, led by privacy activist Max Schrems, which said it would challenge the agreement. U.S. President Joe Biden welcomed the data transfer pact and said it reflected a "joint commitment to strong data privacy protections." Earlier this year, the EU's privacy watchdog, the European Data Protection Board, said the latest data agreement still fell short and urged the commission to do more to protect Europeans' privacy rights. Europe's top court scuppered the previous two deals after challenges by Schrems because of concerns about U.S. intelligence agencies' accessing European citizens' private data.

Persons: Max Schrems, Joe Biden, Didier Reynders, Schrems, Cecilia Bonefeld, Dahl, Foo Yun Chee, Kanishka Singh, Philip Blenkinsop, Christina Fincher, Leslie Adler Organizations: European Commission, Atlantic, European Court, Justice, Airbus, Apple, Ericsson, Nokia, Philips, Samsung, Data Protection, Thomson Locations: BRUSSELS, United States, Washington

☆ EU seals new US data transfer pact but challenge ahead
▼ + stars: | 2023-07-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

BRUSSELS, July 10 (Reuters) - The European Commission announced a new data transfer pact with the United States on Monday, seeking to end the legal uncertainty plaguing thousands of companies which transfer personal data across the Atlantic. However, the move was immediately criticised by non-profit group noyb, led by privacy activist Max Schrems, which said it would challenge the agreement. The EU executive said measures taken by the United States ensured an adequate level of protection for Europeans' personal data transferred across the Atlantic for commercial use. It said new binding safeguards, such as that limiting U.S. intelligence services' access to EU data to what is "necessary and proportionate" and the setting up of a Data Protection Review Court for Europeans, address the concerns raised by Europe's top court. Earlier this year, EU privacy watchdog the European Data Protection Board said the latest data agreement still fell short and urged the Commission to do more to protect Europeans' privacy rights.

Persons: Max Schrems, Didier Reynders, Schrems, Cecilia Bonefeld, Dahl, Foo Yun Chee, Philip Blenkinsop, Christina Fincher Organizations: European Commission, EU, Atlantic, European Court, Justice, Airbus, Apple, Ericsson, Nokia, Philips, Samsung, European Data Protection, Commission, Thomson Locations: BRUSSELS, United States, EU

☆ Explainer: What's behind China's failed 'truce' in EV price war?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Tesla Model 3 electric vehicle (EV) is displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. Toyota (7203.T) offered a discount on its bZ4X EV, and Nissan (7201.T) offered an incentive on its Ariya EV. Volkswagen's (VOWG_p.DE) joint ventures with SAIC and FAW also announced price cuts in China on their ID-series EVs on Friday. AlixPartners said while China's EV market will continue to grow rapidly, intensifying competition and excess capacity will also drive a shakeout. In one example, Chinese automakers have invested $1.4 billion in Thailand since 2020, now dominating the Thai EV market after taking share from the Japanese brands that have long operated there.

Persons: Florence Lo, Tesla, CAAM, Li Auto, Liu Xu, furloughs, AlixPartners, Zhang Yan, Kevin Krolicki, Tom Hogue Organizations: Tesla, Fair for Trade, Services, REUTERS, China Association of Auto Manufacturers, stoke, HK, Volvo, Chery Automobile, Global, Ford, Toyota, Nissan, EV, General Motors, Honda, Consultancy, Consumers, SAIC, GAC, Dongfeng, FAW Group, China's Ministry of Industry, Information Technology, FAW, National Strategy Institute of Tsinghua University, International, Hyundai, Thai EV, Thomson Locations: Beijing, China, Shanghai, Europe, Southeast Asia, Thailand, Singapore

The pan-European STOXX 600 index (.STOXX) deepened losses by the close to fall 2.3% to its lowest level since late March, while the EURO STOXX 50 index (.STOXX50E) plunged 2.9%. Germany's two-year bond yield , which is highly sensitive to interest-rate expectations, rose its highest since autumn 2008, also pressuring equities. Technology stocks (.SX8P) fell 3.0%, while the real estate sector (.SX86P), which are often treated as bond proxies, tumbled 4.2%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser on the STOXX 600, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors.

Persons: Chris Beauchamp, Janet Yellen's, Matteo Allievi, Shubham Batra, Shreyashi Sanyal, Sherry Jacob, Phillips, Varun, David Evans Organizations: CAC, U.S, Technology, Treasury, Thomson Locations: U.S . Federal, U.S, China, British, Gdansk, Bengaluru

☆ European shares drop as hawkish Fed, US-China tensions weigh
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - European shares slumped nearly 1% on Thursday as heightened concerns about an economic slowdown and further rates hikes globally dented risk sentiment, while an escalating trade battle between China and the United States also weighed. The pan-European STOXX 600 index (.STOXX) dropped 0.8% by 0717 GMT, led by losses in the construction and materials index (.SXOP), which fell more than 1%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser in the index, fell 0.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors. Reporting by Matteo Allievi in Gdansk and Shubham Batra in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen's, Matteo Allievi, Shubham Batra, Sherry Jacob, Phillips Organizations: Treasury, Thomson Locations: China, United States, U.S, Gdansk, Bengaluru

☆ Tomb Raider games group Embracer raises $182 mln in share issue
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, July 6 (Reuters) - Sweden's Embracer (EMBRACb.ST) has raised 2 billion crowns ($182 million) in a share issue directed at institutional investors, the gaming group said on Thursday, after last month flagging a need to cut investments and costs. It issued 80,000 new shares at a subscription price of 25 crowns per share, it said in a statement, sending its shares down 13%. "The proceeds from this share issue will further strengthen our financial position, improving both financing cost and our operational flexibility, and enabling us to focus on the key aspects of the program," it said. Trading was heavy, with hourly volume running at over 9 million shares, the second-highest on record after May 24's hourly rate of over 10 million, Refinitiv Eikon data showed. Embracer, which last year bought several development studios and the intellectual property rights to a number of games including a new Tomb Raider game, announced plans for the share issue late on Wednesday.

Persons: Anna Ringstrom, Louise Rasmussen, Jason Neely Organizations: Thomson Locations: STOCKHOLM, Embracer

The pan-European STOXX 600 index (.STOXX) dropped 1.2%, led by losses in travel and leisure (.SXTP) and retail index (.SXRP), which fell 2.3% and 2.0%, respectively. Embracer (EMBRACb.ST), the top loser on the STOXX, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors. "Now the gap between the two main central banks is closer than two months ago as Fed has moved more towards the position of the European Central Bank (ECB)." German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Reporting by Matteo Allievi in Gdansk and Shubham Batra in Bengaluru; Editing by Sherry Jacob-Phillips and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: hawkish, Stuart Cole, Janet Yellen's, UK's, policmaker Joachim Nagel, Matteo Allievi, Shubham Batra, Sherry Jacob, Phillips, Varun Organizations: CAC, Equiti, Fed, European Central Bank, Treasury, policmaker, Thomson Locations: China, U.S, British, Gdansk, Bengaluru

☆ India's Jio set to sign $1.7 bln deal with Nokia for 5G equipment - Economic Times
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 6 (Reuters) - India's Reliance Jio Infocomm is likely to sign a contract worth $1.7 billion with Nokia (NOKIA.HE) this week to purchase 5G network equipment, the Economic Times reported on Thursday, citing people aware of the matter. The contract could be signed as early as Thursday in Helsinki, Finland, where Nokia is headquartered, the report added. Jio and Nokia did not immediately respond to Reuters' requests for a comment. Jio snapped up airwaves worth $11 billion in a 5G spectrum auction last August and had launched 5G services in several cities. Swedish telecommunication company Ericsson (ERICb.ST) had in October last year, announced a partnership with Jio to build a 5G standalone network in India.

Persons: Jio, JP Morgan, Finnvera, Varun Vyas, Rashmi Aich Organizations: Nokia, Economic Times, Reliance Industries, Google, HSBC, Citigroup, Ericsson, Thomson Locations: BENGALURU, Helsinki, Finland, India, Swedish, Bengaluru

That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence (AI). China has been the go-to for companies because it is able to export processed minerals at a lower cost than other countries. In Taiwan, a senior government official said China's restrictions on exports of gallium and germanium marked "a new wave of retaliation" in a "tit-for-tat approach." Some industry watchers believed China's metals restrictions could trigger short-term supply snags and higher prices. But Navitas Semiconductor Corp (NVTS.O), which makes chips that use a substance called gallium nitride, on Wednesday said it expects no adverse effects to its business from China's export controls.

Persons: China's, Stewart Randall, Janet Yellen, Roy Lee, John Strand, Supantha Mukherjee, Hakan Ersen, Ben Blanchard, Brenda Goh, Kanishka Singh, Anne Marie Roantree, David Gaffen, David Gregorio Our Organizations: U.S . Department of Commerce, EV, Sweden's Ericsson, Ericsson, U.S, Treasury, Navitas Semiconductor Corp, Thomson Locations: SHANGHAI, STOCKHOLM, WASHINGTON, Beijing, U.S, China, United States, Shanghai, Intralink, Netherlands, Australia, Europe, Taiwan, South Korea, Japan, Korea, Copenhagen, Stockholm, Berlin, Taipei, Washington

☆ Volvo Cars June sales up 33% as fully electric car sales quadruple
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Claudia GrecoCOPENHAGEN, July 4 (Reuters) - Sweden-based Volvo Cars (VOLCARb.ST) on Wednesday reported a 33% year-on-year rise in June sales to 66,379 cars, helped by a spike for fully electric cars. The manufacturer, which is majority-owned by China's Geely (0175.HK), said it sold 9,535 fully electric cars in the month, up 346%. "The overall sales increase was driven by the company's fully electric cars which quadrupled compared to the same period last year," it said in a statement. Volvo Cars said its total car sales in biggest market Europe rose 70%. Total car sales in the U.S. were up 53% while in China they decreased.

Persons: Claudia Greco, China's Geely, Louise Breusch Rasmussen, Anna Ringstrom Organizations: Volvo, REUTERS, HK, Thomson Locations: Milan, Italy, Claudia Greco COPENHAGEN, Sweden, Europe, U.S, China

Georgetown University in Washington, D.C. Not everyone with debt would have been covered under the Biden administration’s student loan forgiveness plan. The Supreme Court has barred the Biden administration from carrying out its plan to extinguish up to $20,000 in federal student loan debt, and millions of borrowers will continue to struggle under the weight of their loans. Ms. Schmidt owes $64,000 in student debt, more than half of which is for her graduate work in nursing. But she’s already contemplating how she’ll finance her dream of becoming a civil rights lawyer, which typically requires an additional six figures in student debt. Yet her mother is still paying down student debt of her own.

Persons: Biden, Gina McDavitt, weren’t, Pell, “, ”, McDavitt, ” Ms, Ms, Monica Schmidt, Schmidt, Kevin Serna, Dorien Rogers, Rogers, Asha Anthony, she’s, —, Anthony, Mr, don’t, Joanna Leiserson, Brian Kaiser, “ I’m, Leiserson Organizations: Georgetown University, Biden, College of San, San Francisco State University, The New York Times, University of Phoenix, Northern Illinois University, Public, Schaun, Tax, Howard University, Salisbury University, The New York, Republicans Locations: Washington ,, College of San Mateo, Bay, Vallejo , Calif, Genoa, Ill, Germantown, Md, Credit, Montgomery County, Mesa, Maryland, Spokane, —, forbearance

☆ Polestar to adopt Tesla's supercharger network in the US, Canada
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Swedish electric vehicle (EV) maker Polestar said on Thursday it has signed an agreement with Tesla (TSLA.O) to adopt the EV maker's Supercharger network in the United States and Canada. Starting 2025, new Polestar vehicles sold in North America will be equipped with Tesla's North American Charging Standard (NACS) charging port by default, the company said. The deal comes days after Swedish carmaker Volvo Cars (VOLCARb.ST) said all its electric vehicles (EVs) will have access to Tesla's Supercharger network in the U.S., Canada and Mexico. Tesla's Superchargers account for about 60% of the total number of fast chargers available in the United States, according to the U.S. Department of Energy. Reporting by Tiyashi Datta in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Polestar, Tesla's, Biden, Tiyashi Datta, Pooja Desai Organizations: Tesla, Volvo, General Motors, Rivian Automotive Inc, CCS, U.S . Department of Energy, Thomson Locations: Swedish, United States, Canada, North America, U.S, Mexico, California, Bengaluru

The pan-European STOXX 600 index (.STOXX) closed 0.1% higher. That made Spain the first among the euro zone's large economies to have inflation fall below 2%. This followed hawkish comments from U.S. and European central bank policymakers at a European Central Bank meet-up in Sintra on Wednesday, where the underlying theme was that rates are likely to stay higher for longer. Adding to recent hawkish messages from central banks globally, Sweden's central bank raised its policy rate by a quarter percentage point as expected and forecast at least one more rate hike this year. The stock was the top gainer on France's blue-chip index (.FCHI), which rose 0.4% and also helped the automaker sub-index (.SXAP) climb 1.3%.

Persons: Germany's DAX, year's, Claus Vistesen, Daniela Hathorn, Amruta Khandekar, Matteo Allievi, Sherry Jacob, Phillips, Rashmi Aich, Conor Humphries Organizations: Pantheon, U.S . Federal Reserve, European Central Bank, Capital.com, Renault, Belgian, Severn Trent, Thames, Semiconductor, Citigroup, Thomson Locations: Spain, Sintra, Severn, Bengaluru, Gdansk

☆ H&M to grow third-party brand strategy as online rivalry intensifies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, June 29 (Reuters) - H&M (HMb.ST) plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world's top fashion retailers ramps up its effort to take on e-commerce rivals. Its marketplace strategy, launched last year, is aimed at challenging online rivals like Zalando, ASOS, and fast-fashion giant Shein as competition intensifies. Inditex-owned (ITX.MC) Zara features other brands only for exclusive collaborations, such as with South Korean label Ader Error and British shoemaker Clarks. "This has been really well received by customers who also complement the H&M assortment with other brands," Helmersson said. "Inditex's thinking is focused on its own brands, own stores and own online," said Lowery.

Persons: Helena Helmersson, M's, Zara, Clarks, Helmersson, Geoff Lowery, Inditex's Zara, Lowery, Marie, Helen Reid, Josephine Mason, Emma Rumney Organizations: Adidas, South, Marie Mannes, Thomson Locations: STOCKHOLM, Cos, Swedish, Monki, Hong Kong, Stockholm, London

☆ Morning Bid: Fed turns screw, Micron pops
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

But as investors hit the half-year mark tomorrow, the tightening credit environment tempered fresh risk-taking. Two-year Treasury yields crept higher to 4.77% on Thursday after all the news, with the dollar (.DXY) firmer too and S&P500 futures marginally positive - helped by Micron. The VIX (.VIX) volatility gauge remains subdued at 13.6. Powell's relative hawkishness was mostly matched by counterparts at the European Central Bank and Bank of England yesterday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Jerome Powell's, Powell, Riksbank, Jerome Powell, Raphael Bostic, Paychex, Elaine Hardcastle Organizations: Federal Reserve, Micron, European Central Bank and Bank of England, Atlanta Fed, Nike, McCormick, Paychex Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Asia, Europe, Japan, China, Madrid, Dublin, Brussels

☆ The Low-FODMAP Diet, Explained
▼ + stars: | 2023-06-29 | by ( Alice Callahan | ) www.nytimes.com time to read: 1 min

When Tamara Duker Freuman learned about the low-FODMAP diet just over a decade ago, she started using it with her patients who were suffering from irritable bowel syndrome. In one review of studies published in 2020, for instance, researchers estimated that around 52 to 86 percent of patients with I.B.S. who followed the diet had significant improvements in symptoms like bloating, pain and diarrhea. But the diet — which temporarily eliminates foods that are high in certain types of carbohydrates known to cause I.B.S. Here’s how it works, and how to tell if it’s right for you.

Persons: Tamara Duker Freuman, dietitian

☆ Honeywell to acquire heads-up display assets from Sweden's Saab
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - U.S. conglomerate Honeywell (HON.O) said on Wednesday it had agreed to acquire Swedish aerospace firm Saab's (SAABb.ST) heads-up display (HUD) assets to strengthen its avionics unit. The HUDs will be integrated into aircraft cockpit systems, adding features such as wide field-of-view, high image resolution, low system latency and lower weight. The HUD system helps pilots with increased situational awareness, especially at night or in difficult weather conditions. "Heads-up displays have been known to reduce pilot workload, increase situational awareness, improve access to airports with enhanced flight vision system and safety," said Vipul Gupta, general manager, avionics, Honeywell Aerospace. Reporting by Pratyush Thakur in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Vipul Gupta, Pratyush Thakur, Shilpi Majumdar Organizations: Honeywell, Boeing, Airbus, Honeywell Aerospace, Thomson Locations: Swedish, Bengaluru

☆ Opinion | The Wannabe Putin in Saudi Arabia
▼ + stars: | 2023-06-28 | by ( Nicholas Kristof | ) www.nytimes.com time to read: +1 min

foolishness” for strains in Russia-American relations — because they wanted a steady relationship, and Putin was unmistakably in control of an important country. My candidate for tomorrow’s Putin is Crown Prince Mohammed bin Salman of Saudi Arabia, better known as M.B.S. and trying to reset relations with him — even as he seeks a “civilian” nuclear program. is a wannabe Putin,” said Dr. Khalid Aljabri, a Saudi cardiologist who previously worked as a clinician for the Saudi counterterrorism agency. Aljabri, who has a brother and sister imprisoned in Saudi Arabia for political reasons, lives in the United States and is frustrated that the crown prince has, as he puts it, played Biden “like a fiddle.”

Persons: Vladimir Putin’s, ”, Putin, they’re, Crown Prince Mohammed bin Salman, Biden, M.B.S, —, “, Khalid Aljabri Organizations: “, Crown, Biden “ Locations: Georgia, Crimea, Russia, Saudi Arabia, Saudi, United States

June 27 (Reuters) - Tesla's (TSLA.O) electric-vehicle charging technology is being put on a fast track to become a North American standard, giving a further boost to the automaker's plan to expand access to its once-exclusive chargers. Tesla's charging technology has been gathering momentum for weeks. Volvo Car (VOLCARb.ST) on Tuesday joined General Motors (GM.N), Ford (F.N) and Rivian (RIVN.O) in embracing Tesla's charging design, shunning earlier efforts by the Biden administration to make the Combined Charging System (CCS) the dominant charging standard in the United States. Tesla calls its technology "the North American Charging Standard (NACS)," but it has yet to be approved as a standard by SAE International. Building out the public charging network will require between $33 billion and $55 billion of cumulative public and private capital investment, according to the NREL study.

Persons: Biden, Tesla, Frank Menchaca, It's, Ali Zaidi, Hyunjoo Jin, Trevor Hunnicutt, Peter Henderson, Matthew Lewis Organizations: Volvo, Tuesday, General Motors, Ford, SAE, GM, Sustainable Mobility, SAE International, Reuters, American, National Renewable Energy Laboratory, Biden, White, CCS, Thomson Locations: American, United States, Texas, Washington, San Francisco

☆ Volvo EVs to now have access to Tesla superchargers
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Swedish carmaker Volvo Cars (VOLCARb.ST) said on Tuesday it had signed an agreement with Tesla (TSLA.O) to give its electric vehicles (EVs) access to the EV maker's Supercharger network in the United States, Canada and Mexico. The deal makes Volvo the first European automaker to adopt Tesla's North American Charging Standard (NACS), adding to the slew of EV makers and charging equipment manufacturers taking up the technology. Tesla's Superchargers account for about 60% of the total fast chargers available in the United States, according to the U.S. Department of Energy. Its recent deals represent major strides in displacing rival standard CCS that earlier exclusively had the backing of President Joe Biden's administration. The government is offering $7.5 billion in funding to speed the deployment of EV chargers in the United States.

Persons: Joe Biden's, Akash Sriram, Maju Samuel Organizations: Volvo, Tesla, EV, Rivian Automotive Inc, General Motors, U.S . Department of Energy, Thomson Locations: Swedish, United States, Canada, Mexico, California, Bengaluru

SummarySummary Companies STOXX 600 off 0.1%Defence firms fall after failed Russian mutinyHealthcare sector drags STOXX 600German business morale weakens againJune 26 (Reuters) - European shares inched lower on Monday, led by healthcare, while defence stocks fell after an aborted weekend mutiny in Russia. The pan-European STOXX 600 index (.STOXX) slipped 0.1% as of 1600 GMT, extending losses for its sixth straight session. Shares of major European defence firms Leonardo SpA (LDOF.MI), Saab AB (SAABb.ST) and Rheinmetall AG (RHMG.DE) each dropped more than 4%, weighing on the European aerospace and defence sub-index (.SXPARO) which fell 0.9%. "It's too early to price something into the market, that's why the really limited move on defence stocks." The healthcare index (.SXDP) fell 1.1% and was a big drag on the STOXX 600 index, which has come under pressure on concerns about an economic slowdown from a potentially longer-than-expected global interest rate hiking cycle.

Persons: Vladimir Putin, Leonardo, Shanti Kelemen, It's, Germany's DAX, Aston Martin, Amruta Khandekar, Varun H, Dhanya Ann Thoppil, Richard Chang Organizations: Wagner Group, Leonardo SpA, Saab AB, Rheinmetall AG, G Wealth, Energy, Siemens Energy, Lucid, Cineworld, SBB, Thomson Locations: Russia, Ukraine, Europe's, British, Swedish

☆ Serbia releases three detained Kosovo policemen, easing crisis
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +3 min

The European Union welcomed the move and urged Kosovo and Serbia to take further steps to defuse the simmering crisis, including holding new local elections in northern Kosovo. [1/5]One of the released Kosovan policemen (L) arrives at the Kosovo-Serbia border crossing, in Merdare, Kosovo June 26, 2023. The ruling effectively allowed the Serb authorities to maintain the charges while letting the three return to Kosovo, beyond the reach of the Serb court. Albanian-majority Kosovo, formerly a southern province of Serbia, declared independence from Belgrade in 2008 with the backing of the West following a 1998-99 war. Violence flared in four northern Kosovo municipalities late last month after ethnic Albanian mayors took office following a local election.

Persons: Josep Borrell, Albin Kurti, Kurti, Oliver Varhelyi, Aleksandar Vasovic, Fatos, Andrew Gray, Toby Chopra, Andrew Heavens, Alex Richardson Organizations: European Union, Prosecutors, REUTERS, Court, Kosovo's, Twitter, Thomson Locations: BELGRADE, Serbia, Kosovo, Luxembourg, United States, Merdare, Serbian, Kraljevo, Belgrade, Serbs, Brussels, Washington, EU, Pristina

☆ Morning Bid: World markets calm after Russia drama
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +5 min

More perplexed by events than anything else, world markets stayed relatively calm on Monday after a dramatic Russian military mutiny at the weekend was uneasily quelled. For Russian markets themselves, the rouble slipped to 15-month lows - but it too had been falling last week as oil prices ebbed. Largely now isolated from western investment, Russian stocks fell about 1%. U.S. Treasury yields slipped lower, perhaps with a smidgen of a safety bid from the weekend events helping too. Turkey's lira slid again to record lows after the central bank took steps to simplify rules governing lenders' holdings and foreign deposits after a sharp but underwhelming interest rate rise last week.

Persons: Mike Dolan, uneasily, Vladimir Putin, Leonardo, Raphael Bostic, James Bullard, Loretta Mester, Ed Osmond Organizations: Wall, Saab, Rheinmetall, Brent, . U.S, Treasury, Bank for International Settlements, HSBC, Dallas Federal, Central Bank, Central Banking, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, PMI, Thomson, Reuters Locations: U.S, Ukraine, Moscow, Shanghai, Europe, United States, ., Canary Wharf, London, Sintra, Portugal

☆ India’s $1 bln education buyout is a studied bet
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 21 (Reuters Breakingviews) - The biggest merger in Indian corporate history has opened the door for private equity giant EQT (EQTAB.ST) to enter the country’s education finance market. The deal is touted as the largest ever PE buyout in the country’s financial sector and values Credila at roughly 101 billion rupees ($1.2 billion), or roughly 37 times earnings in the last financial year. The target specalises in education financing for those looking to universities in the United States, the UK and Canada for higher education. The buyers will also inject 20 billion rupees into Credila, which should help give the company, already a market major, an edge over rivals including state-controlled banks and the Warburg Pincus-backed Avanse Financial Services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: HDFC, Credila, BPEA EQT, Warburg Pincus, Shritama Bose, Robyn Mak, Thomas Shum Organizations: Reuters, Chrys Capital, Bajaj Finance, Financial, Twitter, Virgin, Thomson Locations: MUMBAI, Swedish, United States, Canada, India, Credila, Cava

☆ Polestar partners with Geely's Meizu to build Chinese operating system
▼ + stars: | 2023-06-19 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

June 19 (Reuters) - Swedish electric vehicle (EV) maker Polestar said on Monday it had formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China that will offer the latest smart technologies in its vehicles. The venture represents a further push by the Geely group (GEELY.UL) to adapt cars specifically for Chinese consumers. The Swedish group said it would own 49% of the JV and Xingji Meizu 51%, providing $98 million and $102 million in funding respectively. Xingji Meizu has grown over the last decade in its attempt to become a Chinese rival to Android, but holds a marginal market share. Traditional carmakers have come under pressure from Chinese EV makers offering lower prices and smart consumer-facing technologies.

Persons: Polestar, Xingji, Li Shufu, Thomas Ingenlath, Xingji Meizu, Ingenlath, Marie Mannes, Elaine Hardcastle, Jan Harvey Organizations: Volvo, JV, Reuters, Google, EV, Thomson Locations: Swedish, China, U.S

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