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☆ Payouts expected from Elon Musk's SEC settlement
▼ + stars: | 2023-08-24 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The "fair fund" was created under a settlement arising from Musk's August 2018 tweet that he had "funding secured" for a Tesla buyout at a premium. The fund was originally $40 million, with Musk and Tesla each contributing $20 million. The SEC settlement also included a consent decree under which Musk gave up his role as Tesla's chairman and agreed to let a Tesla lawyer approve some of his Twitter posts. Musk is expected to appeal that decision to the U.S. Supreme Court. The case is SEC v Musk et al, U.S. District Court, Southern District of New York, No.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, District Judge Lewis Liman, Jonathan Stempel, Jonathan Oatis Organizations: Elon, SpaceX, Tesla, Viva Technology, Porte de, REUTERS, U.S . Securities, Exchange Commission, U.S, District, SEC, Forbes, Twitter, Supreme, Court, Southern District of, Thomson Locations: Paris, France, Manhattan, U.S, Southern District, Southern District of New York, New York

☆ Nottingham Forest sign Argentina's Montiel from Sevilla
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - Nottingham Forest have signed Argentina defender Gonzalo Montiel from Sevilla on a season-long loan with an option to buy, the Premier League club said on Wednesday. Financial details were not disclosed, but Argentine media reported the loan had a purchase option worth 11 million euros ($11.95 million). I've been watching the Premier League since I was child. As a player you want to play in the best league, and the Premier League is just that." Montiel made 72 appearances for Sevilla, scoring two goals and providing six assists, since joining from River Plate in 2021.

Persons: Gonzalo Montiel, I'm, I've, Montiel, Janina Nuno Rios, Angelica Medina, Toby Davis Organizations: Nottingham Forest, Premier League, I'm, Sevilla, Europa League, AS Roma, France, Thomson Locations: Nottingham, Argentina, Sevilla, Argentine, Mexico

Microsoft announced the biggest gaming deal in history in early 2022, but the acquisition was blocked by Britain's competition regulator, which was concerned the U.S. computing giant would gain too much control of the nascent cloud gaming market. Under the restructured deal, Microsoft will not be able to release Activision games like "Overwatch" and "Diablo" exclusively on its own cloud streaming service — Xbox Cloud Gaming – or to exclusively control the licensing terms for rival services. Instead, French gaming rival Ubisoft will acquire the cloud streaming rights for Activision's existing PC and console games, and any new games released by Activision in the next 15 years. A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. Microsoft said Ubisoft would acquire the rights through a one-off payment and a market-based wholesale pricing mechanism, including an option that supports pricing based on usage.

Persons: Tom Smith, there's, Gonzalo Fuentes, Alex Haffner, Fladgate, Sarah Cardell, Yadarisa, Kate Holton, Foo Yun Chee, Barbara Lewis, Sharon Singleton, Mark Potter Organizations: CMA, Microsoft, Activision, Ubisoft Deal, Ubisoft Entertainment, Ubisoft, Markets Authority, European Commission, Geradin Partners, Big Tech, Reuters, REUTERS, European Union . Competition, Federal Trade Commission, European, European Union, Sony, U.S, Thomson Locations: New York, Paris, U.S, Europe, Brussels, EU, Issy, France, British, United States, Bengaluru, London

☆ Spain’s victorious Women’s World Cup stars receive royal welcome on return to Madrid
▼ + stars: | 2023-08-22 | by ( Matias Grez | ) edition.cnn.com time to read: +2 min

CNN —Spain’s Women’s World Cup heroes received a royal welcome on their return to Madrid, with Queen Letizia once again in attendance for the celebrations, as she was in Sydney for the final. Spain's players received a hero's welcome on their return to Madrid. The World Cup heroes eventually arrived at the Madrid Río Park, where a stage had been set up for the team to celebrate. Carmona, who scored the match-winning goal in the Women’s World Cup final, was told soon after the final whistle that her father had passed away. The team has a photo taken with Spanish Prime Minister Pedro Sánchez.

Persons: Queen Letizia, Pierre, Philippe Marcou, Olga Carmona, Carmona, Gonzalo Arroyo Moreno, Vicco, Pedro Sánchez, Manu Fernandez Organizations: CNN, Getty, Spanish, Spain’s Locations: Madrid, Sydney, AFP, Moncloa

CNN —Lionel Messi said he is “very happy” with his decision to sign for Inter Miami after bringing the Major League Soccer (MLS) club to the brink of its first ever piece of silverware. “I came from a month and a half of vacations, so yes at first the day to day and training was hard, and the humidity was hard,” Messi said. Tim Nwachukwu/Getty ImagesMessi went on to compliment the club for helping the transition period off the field which he and his family have gone through. “But it has been very easy, very easy. The truth is that it is very nice how the Inter fans come to each game to support us and that stadium has been filled.

Persons: Lionel Messi, Messi, he’s, Gonzalo Higuain, “, ” Messi, Tim Nwachukwu Organizations: CNN, Inter Miami, Major League Soccer, CONCACAF Leagues Cup, Philadelphia Union, Messi, Nashville SC, Subaru, Getty, MLS, Inter, Leagues, Liga Locations: Nashville , Tennessee, Saudi Arabia, Miami, Florida, Barcelona, Paris

☆ Stellantis invests more than $100 million in California lithium project
▼ + stars: | 2023-08-17 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

"This is a significant investment and goes a long way toward developing this key project," Controlled Thermal CEO Rod Colwell said in an interview. Colwell said a $65 million facility recently installed by Controlled Thermal can remove that silica and other unwanted metals. Controlled Thermal aims to obtain final permits by October and start construction of a commercial lithium plant soon thereafter, Colwell said. Controlled Thermal had separately agreed to supply lithium to General Motors (GM.N) by 2024, but that goal has been pushed to 2025, Colwell said. GM said it has a "close working relationship" with Controlled Thermal but deferred comment on technical questions to its junior partner.

Persons: Gonzalo Fuentes, Stellantis, Rod Colwell, Berkshire Hathaway, Colwell, There's, Carlos Tavares, Goldman Sachs, Ernest Scheyder, Jamie Freed Organizations: REUTERS, Resources, Chrysler, Berkshire, Koch Industries, General Motors, GM, Vulcan Energy Resources, Thomson Locations: Velizy, Villacoublay, Paris, France

☆ Microsoft plans AI service with Databricks that could hurt OpenAI- The Information
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. Databricks - a data analytics platform that uses artificial intelligence, which Microsoft would sell through its Azure cloud-server unit - helps companies make AI models from scratch or repurpose open-source models as an alternative to licensing OpenAI's proprietary ones, the report added. Microsoft and Databricks did not immediately respond to a Reuters request for comment. In July, Microsoft laid out an aggressive spending plan to meet demand for its AI services. The company has started integrating AI functionality across its products such as Azure, Microsoft 365, GitHub and several developer tools.

Persons: Gonzalo Fuentes, Databricks, Gursimran Kaur, Anil D'Silva Organizations: Microsoft, REUTERS, Thomson Locations: Issy, Paris, France, Bengaluru

☆ Lionel Messi scores again as Inter Miami advances to Leagues Cup Final
▼ + stars: | 2023-08-16 | by ( Matias Grez | ) edition.cnn.com time to read: +1 min

CNN —In just one month with Inter Miami, Argentine superstar Lionel Messi already has his team reaching new heights. Messi’s goal against Philadelphia was his ninth in just six games since joining Inter, scoring in each of his six matches so far to sit atop the Leagues Cup scoring chart. After Josef Martinez opened the scoring for Miami, Messi scored in the 20th minute with a low rocket from more than 30 yards out. In the other Leagues Cup semifinal Tuesday, Nashville SC defeated Monterrey 2-0 to set up a final against Miami. The Leagues Cup, an annual tournament between MLS and Mexico’s Liga MX, was expanded this year to include all teams in each league.

Persons: Lionel Messi, Messi, Gonzalo Higuain, Josef Martinez, Andre Blake, Jordi Alba, Alejandro Bedoya, David Ruiz Organizations: CNN, Inter Miami, Philadelphia Union, Miami, CONCACAF Leagues, Philadelphia, Inter, Leagues, Nashville SC, Monterrey, MLS, Liga Locations: Argentine, Spanish, Philadelphia, Nashville , Tennessee

☆ Depay rocket helps Atletico to 3-1 LaLiga win over Granada
▼ + stars: | 2023-08-14 | by ( Fernando Kallas | ) www.reuters.com time to read: +2 min

MADRID, Aug 14 (Reuters) - Atletico Madrid striker Memphis Depay scored with a stunning long-range strike in the second half to help secure a 3-1 home win over promoted Granada in their LaLiga opener on Monday. Alvaro Morata gave Atletico a first-half lead and Marcos Llorente put the icing on the cake with a late third against last season's LaLiga2 champions. Atletico were again on top in the second half and substitute Depay wasted a golden opportunity on the hour mark, sending his close-range shot wide. However, five minutes later substitute Depay put Atletico in front again when he unleashed an unstoppable rocket shot from distance that flew into the top left-hand corner of the net. The one negative for Atletico was that they lost captain Koke with a leg muscle injury early in the first half.

Persons: Atletico Madrid striker Memphis Depay, Alvaro Morata, Marcos Llorente, Antoine Griezmann, Yannick Carrasco, Rodrigo De Paul, Morata, Jesus Vallejo, Depay, Samuel Omorodion, Carrasco miscontrolled, Gonzalo Villar, Andre Ferreira, Diego Simeone, I'm, Koke, Fernando Kallas, Ken Ferris Organizations: Atletico Madrid striker Memphis, Granada, Atletico, Metropolitano, Movistar, Memphis, Thomson Locations: MADRID, Granada, Morata, Memphis

☆ Space tourists will probably have sex up there, but they shouldn't get pregnant, researchers warn
▼ + stars: | 2023-08-09 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

If someone gets pregnant in space, the radiation could harm them or their embryo, scientists say. Space companies could end up with lawsuits and bad press if they don't talk to tourists about this. SpaceXIt may not even be possible to get pregnant in space, but it's probably not worth taking the chance. That's partly because space research has long been dominated by government agencies. Their findings may not be applicable to humans at all, but they offer hints that reproductive functions could be affected by space radiation and microgravity.

Persons: Jeff Bezos, Richard Branson, Origin's, Yusaku Maezawa, Dennis Tito, Sharon, Marc Hagle, Kris Lehnhardt, Lehnhardt, it's, hasn't, Sally Ride, Walter Villadei, Elon Musk, Ludovic Marin, We're, David Cullen, Cullen, Gonzalo Fuentes Organizations: Service, Shepard, Virgin, SpaceX, NASA, Engineers, Virgin Galactic, Chateau, Cranfield University, Reuters Locations: Wall, Silicon, Boca Chica , Texas, Versailles, Paris

☆ UAW says Chrysler parent Stellantis seeking concessions in talks
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, Feb. 23, 2022. REUTERS/Gonzalo Fuentes/File PhotoAug 8 (Reuters) - The United Auto Workers (UAW) union said on Tuesday that Chrysler parent Stellantis (STLAM.MI) is seeking numerous concessions in ongoing contract talks, including cuts to existing medical coverage. The UAW also said the company opposes an end to two-tier wages, a practice of newer workers getting paid much less than veteran workers. The UAW is seeking more than 40% pay raises over four years, significant additional time off and a restoration of defined benefit pensions previously eliminated for newer workers. The UAW wants new limits on temporary workers and for them to receive profit sharing.

Persons: Gonzalo Fuentes, Stellantis, Shawn Fain, David Shepardson, Bernadette Baum Organizations: REUTERS, United Auto Workers, UAW, Chrysler, Stellantis, General Motors, Ford, Reuters, U.S, Thomson Locations: Velizy, Villacoublay, Paris, France, Illinois

☆ UAW calls Stellantis contract offer 'trash'
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, Feb. 23, 2022. REUTERS/Gonzalo Fuentes/File PhotoAug 8 (Reuters) - United Auto Workers (UAW) union President Shawn Fain angrily tossed contract proposals from Stellantis (STLAM.MI) in a trash can on Tuesday, citing numerous concessions that the Chrysler parent is seeking in labor talks. Stellantis said the cumulative increase in employee health-care costs over the next four years is expected to be $613 million. Fain cited an Aug. 1 statement Stellantis made to Reuters that the automaker is "not seeking a concessionary agreement." The union also wants new limits on temporary workers.

Persons: Gonzalo Fuentes, Shawn Fain, Fain, Stellantis, David Shepardson, Bernadette Baum, Marguerita Choy, Leslie Adler Organizations: REUTERS, United Auto Workers, UAW, Chrysler, Reuters, Stellantis, General Motors, Ford, U.S, Thomson Locations: Velizy, Villacoublay, Paris, France

REUTERS/Gonzalo Fuentes/File PhotoOSLO, Aug 8 (Reuters) - Meta Platforms (META.O) is asking a court in Norway to stop a fine the Nordic country's data regulator imposed on the owner of Facebook and Instagram for breaching users' privacy, according to a court filing. Meta Platforms will be fined 1 million crowns ($97,700) per day from Aug. 14 over privacy breaches, Norway's data protection authority told Reuters on Monday, in a decision that could have wider European implications. Meta Platforms is asking for a temporary injunction against the order, according to a court filing. Meta Platforms did not reply to a request for comment. The Norwegian data regulator, Datatilsynet, said Meta Platforms was seeking to stop the imposition of the fine.

Persons: Gonzalo Fuentes, Tobias Judin, Datatilsynet, Gwladys Fouche, Kirsten Donovan Organizations: Viva Technology, Porte de, REUTERS, Facebook, Reuters, Big Tech, European Data Protection, Thomson Locations: Porte, Paris, France, OSLO, Norway, Norwegian, Europe, Oslo

☆ Buy cheap call options on these earnings surprise candidates, says Bank of America
▼ + stars: | 2023-08-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Some companies reporting this week are primed for stronger-than-expected results which could boost their stock, according to Bank of America. These instruments can also be a good way for investors to navigate the earnings season without taking on too much risk. They can also be used to gauge potential earnings surprises, like BofA did. Under Armour stock has slipped roughly 23% this year, while Rivian has added 37%. UAA YTD mountain Under Armour in 2023 Under Armour will report fiscal first-quarter results Tuesday before the opening bell.

Persons: Russell, BofA, Gonzalo Asis, Armour, Rivian, WYNN, FactSet, Michael Bloom Organizations: Bank of America, UAA, FactSet, Wynn Resorts Locations: FactSet

REUTERS/Gonzalo Fuentes/File PhotoWASHINGTON, Aug 7 (Reuters) - Amazon.com (AMZN.O) is set to meet next week with the U.S. Federal Trade Commission (FTC) ahead of a potential long-awaited antitrust lawsuit against the retailer, according to a source familiar with the matter. The FTC began probing Amazon during former President Donald Trump's administration when the government decided to investigate Amazon, Google, Faceboook and Apple for allegedly breaking antitrust law. The company has been criticized for allegedly favoring its own products and disfavoring outside sellers on its platform, among other allegations. Amazon is expected to argue at the meetings with the commissioners that the FTC should not file an antitrust suit against the company, a separate source said. The Justice Department has sued Google twice, once regarding its search business and a second time on advertising technology.

Persons: Gonzalo Fuentes, Donald Trump's, Lina Khan, David Shepardson, Diane Bartz, Chris Reese, Mark Potter, David Gregorio Our Organizations: Viva Technology, Porte de, REUTERS, U.S . Federal Trade Commission, FTC, Google, Apple, Amazon, Yale, Trump Justice Department, Facebook, Meta's Facebook, Thomson Locations: Porte, Paris, France

☆ Chile's Jara leads campaign for prostate testing eight years after "finger of god"
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ivan AlvaradoAug 5 (Reuters) - Chilean defender Gonzalo Jara, widely remembered for sticking his finger up Uruguay's Edinson Cavani's backside at the 2015 Copa America, has become the face of a campaign to promote prostate testing for cancer prevention in his country. Jara's gesture, dubbed "the finger of god", earned him a three-match suspension, which ruled him out from the rest of the tournament. "With that in mind, and to take care of an important member of this great football family, we take advantage of this Superclasico to make a call for prevention and self-care of prostate cancer." The 37-year-old Jara has won 115 international caps and is with Coquimbo in Chile's top flight after stints in England, Germany, Argentina and Mexico. Reporting by Janina Nuno Rios in Mexico City, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Sandro Ricci, Chile's Gonzalo Jara, Ivan Alvarado, Gonzalo Jara, Jara, Francisca Mora, Dr Bruno Nervi, Janina Nuno Rios, Pritha Sarkar Organizations: America, REUTERS, Copa, Argentina, TNT, Universidad de Chile, Colo Colo, Warner Bros, Chile Sin Cancer, Thomson Locations: Santiago , Chile, Chilean, Chile, Uruguay, Jara, Coquimbo, Chile's, England, Germany, Argentina, Mexico, Mexico City

☆ Springboks overcome scrappy first half to beat Argentina 24-13
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

"I’m just very happy, we worked very hard," South Africa’s stand-in captain Bongi Mbonambi said. "It is always tough to come and play here in Argentina. It was a proper test match but this was a good game for us before the World Cup." And they got another shortly afterwards as Libbok’s cross-kick was collected by wing Moodie and he had an easy run-in to score. The win may have come at some price after the Boks' experienced centre Lukhanyo Am was forced off at halftime with a knee injury.

Persons: Canan Moodie, Agustin Creevy, Jacques Nienaber, Mapimpi, Moodie, Manie Libbok, Bongi Mbonambi, scrumhalf Gonzalo Bertranou, Creevy, Libbok, Franco Mostert, Nick Said, Hugh Lawson Organizations: Argentina, Rugby World, Springboks, Lukhanyo, Thomson Locations: South Africa, Buenos Aires, Argentina, Argentine, Bertranou, Mapimpi

Google (GOOGL.O) had asked for summary judgment on all the government's claims in the case, which is to go to trial next month. Google said Friday it appreciated the court's "careful consideration and decision to dismiss claims regarding the design of Google Search" in the case brought by the state attorneys general. Connecticut Attorney General William Tong praised the decision to allow the states Google search antitrust suit to proceed to trial. Mehta noted Google LLC operates the largest U.S. internet general search engine whose "brand name has become so ubiquitous that dictionaries recognize it as a verb." He noted Google in 2020 had nearly 90% market share and advertisers spend over $80 billion annually alone to reach general search users.

Persons: Gonzalo Fuentes, Judge Amit Mehta, Google's, Mehta, William Tong, Tong, Trump, Judge Mehta, Diane Bartz, David Shepardson, Mark Porter, Diane Craft Organizations: Google, Viva Technology, Porte de, REUTERS, Justice Department, Big Tech, Microsoft Corp, Apple, LG, Motorola, Samsung, Verizon, Mozilla, Justice, Department, Thomson Locations: Porte, Paris, France, WASHINGTON, U.S, Washington, Connecticut, Virginia

And Amazon failed to ensure that injured employees received adequate treatment, the agency said. Separately on Thursday, a worker advocacy group said it had filed a complaint with OSHA on behalf of employees at an Amazon warehouse near St. Louis, Missouri. They claim the online retailer imposes excessive, unsafe work rates and that they were mistreated by Amazon's in-house medical staff. The company has said that it invests millions of dollars in worker safety and has cooperated with OSHA's nationwide investigation. Critics of Amazon have long accused the company of putting profit over safety by requiring employees to work at an unsafe pace and forgo breaks to meet demanding quotas.

Persons: Gonzalo Fuentes, Amazon's, unionize, Daniel Wiessner Organizations: Viva Technology, Porte de, REUTERS, Inc, U.S . Department, Safety, Health Administration, OSHA, Amazon, Thomson Locations: Porte, Paris, France, U.S, Logan Township , New Jersey, St, Louis , Missouri, New York City, Albany , New York

The beat was underpinned by much lower-than-expected "cost of risk" - money set aside for failing loans - of 166 million euros. Analysts had expected 430 million euros. Dubbed a "year of transition" by Krupa's predecessor Frederic Oudea, 2023 is also marked by a severe downturn at SocGen's French retail banking division, fresh from a merger of its two local networks. The second quarter was also affected by negative exceptional items of 240 million euros, which Credit Suisse analysts said were tied to "legacy legal disputes". Retail banking outside France fared better, as did SocGen's car leasing division ALD Automotive (ALDA.PA), whose sales jumped by more than 17% thanks to the acquisition of rival LeasePlan.

Persons: Gonzalo Fuentes, Krupa, Slawomir Krupa, France's, Jefferies, Frederic Oudea, Intesa, LeasePlan, SocGen, Mathieu Rosemain, Augustin Turpin, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, Royal Bank of Canada, European Central Bank, Credit Suisse, Retail, ALD Automotive, Thomson Locations: French, Courbevoie, Paris, France, PARIS, Russia

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ Hermes defies luxury slowdown with strong sales
▼ + stars: | 2023-07-28 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

Hermes' results come as luxury stocks have come under pressure due to uncertainty over the pace of China's post-pandemic recovery, while a months-long spending frenzy in the U.S. market cools amid rising inflation. "We've seen no interruption in (growth) trends," Hermes Executive Chairman Axel Dumas told journalists. "Strong print across the board," said Exane BNP Paribas, citing fast sales growth and consensus-beating margins. Analysts said the results showed the strength of Hermes' business model, which entails careful management of production and stocks. Hermes shares traded up 3.3% in early morning trading, while rival Kering was up 1% and LVMH was down 0.5%.

Persons: Veronique Nichanian, Gonzalo Fuentes, Birkin, Hermes, Richemont, We've, Axel Dumas, Dumas, Bernstein, Kering, LVMH, Mimosa Spencer, Silvia Aloisi, Sharon Singleton Organizations: REUTERS, BNP, Thomson Locations: Paris, France, U.S, China

☆ San Francisco was too expensive so they moved to Spain and bought a beautiful house for $50,000. Here’s how they did it
▼ + stars: | 2023-07-27 | by ( Inka Piegsa-Quischotte | ) edition.cnn.com time to read: +11 min

CNN —When John Flores and Michael Leitz were looking for a home in which to spend the next stage of their lives, they realized that where they lived in San Francisco was too expensive. Instead, they began looking further afield – eventually buying a beautiful 120-year-old, three-story home in rural Spain for less than $50,000. Finding the right place and relocating to another country was by no means easy for Flores and Leitz. As is often the case in rural Spain, many records had been lost over the years. “We bought the most beautiful antique rural Spanish furniture there.”Work to renovate the house took about six months, but that followed the considerable time taken to get building permission from local authorities.

Persons: John Flores, Michael Leitz, Flores, Leitz, – Leitz, ”, “, John, Gonzalo Azumendi, Flores aren’t, Stefano Politi Markovina, Spain they’d, ” Flores, woodworm, ” Leitz, Flores “, they’ve, They’ve, “ Leitz Organizations: CNN, UCLA, “, Getty, Global Citizen Solutions, Visa Locations: San Francisco, Spain, Francisco, “ Europe, Europe, Spanish, Valencia, Leitz, Phoenix, Xatavia, Madrid, Barcelona, Seville, Malaga, California, Xativa, –, Ikea

☆ Exclusive: Amazon has drawn thousands to try its AI service competing with Microsoft, Google
▼ + stars: | 2023-07-26 | by ( Jeffrey Dastin | Thomson Reuters | Jeffrey Dastin Is A Correspondent For Reuters Based In San Francisco | ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes/File PhotoJuly 26 (Reuters) - Amazon.com’s (AMZN.O) cloud division has drawn thousands of customers to try out its service vying with Microsoft (MSFT.O) and Google (GOOGL.O) in a key area of artificial intelligence, an executive told Reuters. "Our mission is to make every company an AI company," said Sivasubramanian, in an interview pegged to a summit the cloud provider hosted in New York. Amazon Bedrock is the company's answer to services announced by Google and Microsoft, cloud rivals that have developed or marketed AI garnering significant public attention. Microsoft has invested in OpenAI, the startup that created ChatGPT and the AI model known as GPT-4. The cloud provider announced Agents for Amazon Bedrock, which lets businesses create chatbots that execute tasks and give more personalized answers drawing from their proprietary data.

Persons: Gonzalo Fuentes, Swami Sivasubramanian, Sivasubramanian, Jeffrey Dastin, Stephen Nellis, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, Microsoft, Google, Reuters, Sony, Ryanair, Sun, Thomson Locations: Porte, Paris, France, New York, OpenAI, Silicon

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

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