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☆ Electrolux swings to loss as shoppers shift to cheaper appliances
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Interiors of Electrolux R&D facility are pictured at their plant in Pordenone, Italy, March 27, 2019. REUTERS/ Giulio PiovaccariSTOCKHOLM, July 20 (Reuters) - Electrolux (ELUXb.ST), Europe's biggest home appliances maker, swung to a loss in the second quarter as cash-strapped shoppers opted for cheaper products and demand from residential property builders slowed. The Swedish group said organic sales fell 8% as sales volumes shrank significantly due to continued weak demand. "Lower residential construction and remodeling activity caused significantly weaker demand within the built-in kitchen category, mainly impacting us in Europe," he said. It reported a second-quarter operating loss of 124 million crowns ($12.1 million) against a year-earlier profit of 560 million.

Persons: Giulio Piovaccari STOCKHOLM, Jonas Samuelson, Electrolux, Anna Ringstrom, Louise Breusch Rasmussen, David Evans Organizations: REUTERS, Europe's, Thomson Locations: Pordenone, Italy, Swedish, Europe

Swedish Foreign Minister Tobias Billstrom said staff at the Swedish embassy in Baghdad were safe but Iraqi authorities had failed in their responsibility to protect the embassy. Thursday's demonstration was called by supporters of Shi'ite cleric Muqtada al-Sadr to protest at the second planned Koran burning in Sweden in weeks, according to posts in a Telegram group linked to the influential cleric and other pro-Sadr media. He stood by the embassy storming on Thursday, telling a press conference the U.S. "has no right to condemn the burning of the Swedish embassy but should have condemned the burning of the Koran". "Yes, yes to the Koran," protesters chanted. Sweden has seen several Koran burnings in recent years, mostly by far-right and anti-Muslim activists.

Persons: Tobias Billstrom, Sayyed Hassan Nasrallah, Mohammed Shia Al, Billstrom, Muqtada al, Moqtada al, Read, Tayyip Erdogan, Ulf Kristersson, Timour Azhari, Anna Ringstrom, Supantha Mukherjee, Johan Ahlander, Marie, Louise Breusch Rasmussen, Ahmed Rasheed, Tom Hogue, Tom Perry, Lincoln, Bernadette Baum, William Maclean, Alison Williams, Cynthia Osterman Organizations: NATO, Sweden's Ericsson, State Department, Telegram, Turkish, Sweden's, Islam, Marie Mannes, Thomson Locations: Iraq, BAGHDAD, STOCKHOLM, Swedish, Stockholm, Baghdad, Iraqi, Sweden, Tehran, Turkey, Washington, Sadr, Copenhagen

☆ Fashion retailer H&M to launch in Brazil
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, July 17 (Reuters) - Fashion retailer H&M (HMb.ST) will launch stores and online trade in Brazil in 2025, the company said on Monday. H&M opened its first store in Latin America in Mexico in 2012, and is currently present in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama, and Costa Rica. "With a population of over 210 million in Brazil and a strong appreciation for fashion, there is considerable potential for expansion in the market," H&M said in a statement. To support its expansion in Brazil, H&M is partnering with Dorben Group, which runs retail operations across 10 countries across Central and South America, the Swedish fashion giant said. The launch in Brazil comes as the company is pushing to accelerate its expansion in the North and South America region, focusing in particular on Latin America, it said.

Persons: Louise Breusch Rasmussen, Anna Ringstrom, Jason Neely Organizations: Dorben Group, Thomson Locations: COPENHAGEN, Brazil, America, Mexico, Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama, Costa Rica, Central, South America, Swedish, North

☆ Tour leader Vingegaard welcomes scepticism about performances
▼ + stars: | 2023-07-16 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

SAINT GERVAIS, France, July 16 (Reuters) - Jonas Vingegaard and Tadej Pogacar have made such a huge impression in the Tour de France that, in a sport that was marred by doping scandals, doubts about their performances have arisen but Denmark's defending champion welcomes the scepticism. On Sunday, Pogacar and Vingegaard clocked 18:27 on the final climb, beating four-time Tour winner Chris Froome's record by 42 seconds. "So yes, I fully understand the questions we're getting about it (our performances)," said Vingegaard. In 2006, Floyd Landis became the first Tour winner to fail a drugs test during the race after testing positive for the male sex hormone testosterone. The Kazakh’s Astana team left the Tour and sacked Vinokourov, who denied any wrongdoing, and Tour leader Michael Rasmussen was then fired by his Rabobank team during the race for lying about his whereabouts in training.

Persons: SAINT GERVAIS, Jonas Vingegaard, Tadej, France's Guillaume Martin, Dane, Carlos Rodriguez, Vingegaard, Chris Froome's, Marco Pantani, Joux, it's, Lance Armstrong, Jan Ullrich, Giro, Ivan Basso, Floyd Landis, Alexandre Vinokourov, Vinokourov, Michael Rasmussen, Julien Pretot, Ken Ferris Organizations: Tour de, Slovenian, Cycling, Kazakh’s Astana, Rabobank, Thomson Locations: France, Slovenian, Puerto

☆ Nokia misses Q2 expectations, lowers full-year guidance
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, July 14 (Reuters) - Finnish telecom gear group Nokia (NOKIA.HE) reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook. Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously. New Nokia's logo is displayed before GSMA's 2023 ahead of the Mobile World Congress (MWC) in Barcelona, Spain February 26, 2023. ($1 = 0.8906 euros)Reporting by Anna Ringstrom, editing by Louise Rasmussen and Matt ScuffhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Refinitiv, Albert Gea, Anna Ringstrom, Louise Rasmussen, Matt Scuffham Organizations: Nokia, Mobile World Congress, REUTERS, Nokia's Network Infrastructure, Mobile Networks, Thomson Locations: STOCKHOLM, Finnish, Barcelona, Spain

☆ Kahoot agrees to $1.72 billion cash offer from Goldman Sachs, other investors
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, July 14 (Reuters) - Norway's Kahoot (KAHOT.OL) has agreed to a voluntary cash offer of 17.2 billion Norwegian crowns ($1.72 billion) from the private equity business within Goldman Sachs Asset Management and a group of other investors, the company said in a statement on Friday. Goldman set up Norwegian company Kangaroo for the offer that the bank is making with General Atlantic, Kirkbi invest, Glitrafjord and others, Kahoot said in a statement. The offer sent the shares up more than 10% to 34.5 crowns, nearing the offer price of 35 crowns per share. The planned transaction was unanimously recommended by Kahoot's board, the company said. ($1 = 9.9809 Norwegian crowns)Reporting by Louise Breusch Rasmussen, editing by Essi LehtoOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman, Kahoot, Louise Breusch Rasmussen, Essi Organizations: Goldman Sachs Asset Management, General Atlantic, Thomson Locations: COPENHAGEN

☆ Nokia warns on Q2, lowers full-year results guidance
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, July 14 (Reuters) - Finnish telecom gear group Nokia (NOKIA.HE) reported on Friday preliminary second-quarter sales of 5.7 billion euros ($6.4 billion) and a comparable operating profit margin of 11%, and lowered its full-year outlook. Analysts polled by Refinitiv had estimated sales of 6.0 billion on average. Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously. ($1 = 0.8906 euros)Reporting by Anna Ringstrom, editing by Louise RasmussenOur Standards: The Thomson Reuters Trust Principles.

Persons: Refinitiv, Anna Ringstrom, Louise Rasmussen Organizations: Nokia, Nokia's Network Infrastructure, Mobile Networks, Thomson Locations: STOCKHOLM, Finnish

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/biden-visit-cements-finlands-pivot-away-from-neutrality-3fd65237

Persons: Dow Jones, biden

☆ NATO isn't ready to 'fully' welcome Ukraine, says former NATO policy planer
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNATO isn't ready to 'fully' welcome Ukraine, says former NATO policy planerRasmussen Global CEO Fabrice Pothier, formerly director of policy planning at NATO, says it isn't the case that "Ukraine is not ready to join the alliance."

Persons: planer Rasmussen, Fabrice Pothier Organizations: NATO Locations: Ukraine

☆ Iceland police restrict access to erupting volcano spewing toxic gas
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

[1/3] View from Reykjavik towards the area where a volcano eruption was taking place on the Reykjanes peninsula, in Iceland, July 10, 2023. REUTERS/Sigurdur DavidssonCOPENHAGEN, July 11 (Reuters) - Icelandic police have restricted access to a volcano that has been spewing out "life-threatening toxic gas pollution" since it began erupting on Monday, the department of civil protection and emergency management said. "The police, after counsel from scientists, have decided to restrict access to the eruption site due to enormous and life-threatening toxic gas pollution," the department said. "For the next hours, it is highly likely that gas will build up around the eruption site due to low wind. Those who have already undertaken the hike to the eruption site, or are already there, are strongly advised to leave the area," it said.

Persons: Louise Breusch Rasmussen, Robert Birsel Organizations: REUTERS, Residents, Facebook, Thomson Locations: Reykjavik, Iceland, COPENHAGEN

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/sweden-races-to-secure-turkish-support-for-nato-bid-2452c14f

Persons: Dow Jones Organizations: nato Locations: sweden

☆ NATO Chief Says Turkey Has Agreed to Let Sweden Join Alliance
▼ + stars: | 2023-07-10 | by ( Jared Malsin | Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/sweden-races-to-secure-turkish-support-for-nato-bid-2452c14f

Persons: Dow Jones Organizations: nato Locations: sweden

☆ NATO unity will be tested at upcoming summit. Ukraine's possible entry may be the biggest challenge
▼ + stars: | 2023-07-09 | by ( ) www.cnbc.com time to read: +8 min

Patriot long-range air defence systems of the German Bundeswehr armed forces are deployed at Vilnius Airport ahead of the upcoming NATO Summit in Vilnius, Lithuania on July 7, 2023. "I don't think it's ready for membership in NATO," President Joe Biden told CNN in an interview airing Sunday. More than two-thirds of alliance members have banned the weapon because it has a track record for causing many civilian casualties. As for Ukraine's possible entry into NATO, the alliance said in 2008 that Kyiv eventually would become a member. "That's an issue that will cause tension and dissent, and that's not what the Vilnius summit is all about," he said.

Persons: NATO's, Joe Biden, Donald Trump, Biden, Douglas Lute, Barack Obama, Vladimir Putin, Wagner, Lute, Mitch McConnell, Putin, Daniel Fried, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Finland, Erdogan, It's, Anders Fogh Rasmussen, Max Bergmann, They've, Bergmann, Viktor Orban, Idaho Sen, Jim Risch, aren't, Risch, I'm, we've, Jens Stoltenberg, who's, Mette Frederiksen, Stoltenberg, Rasmussen, Skip Davis, that's Organizations: German Bundeswehr, Vilnius Airport, NATO Summit, NATO, CNN, Republican, Kentucky, Associated Press, Putin, Atlantic Council, Ukraine, State Department, Center for Strategic, International Studies, Senate Foreign Relations, Danish, Center for Locations: German, Vilnius, Lithuania, Russian, Ukraine, Sweden, Eastern Europe, United States, Israel, Moscow, Finland, U.S, Russia, Kyiv, Poland, Estonia, Latvia, Czech Republic, Turkey, Stockholm, Idaho, Hungary, Baltic, Norwegian, Danish

☆ Coloplast buys fish skin woundcare firm for up to $1.3 billion
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, July 7 (Reuters) - Coloplast (COLOb.CO) has agreed to buy Iceland-based Kerecis, a biologic wound care firm that uses fish skin to develop tissue-transplant products, for up to $1.3 billion, the Danish medical equipment maker said on Friday. "Kerecis represents an attractive opportunity to strategically strengthen Coloplast's presence in the advanced wound care market by entering the high-growth, U.S.-centric biologics segment," the Danish firm said in a statement. Coloplast said it expected the acquisition to be marginally dilutive to earnings in the short term but increasingly accretive from 2026-2027 onwards. As a result of the deal, Coloplast raised its long-term organic growth guidance to 8-10% from 7-9% previously, it said. Kerecis has developed and patented a technology platform based on intact fish skin from wild Atlantic cod, which is being used to treat burns and other complex acute and chronic wounds including diabetic, venous, trauma, and surgical wounds.

Persons: Coloplast, Kerecis, Louise Breusch Rasmussen, Anna Ringstrom, Mark Potter Organizations: Thomson Locations: COPENHAGEN, Iceland, Danish, U.S

☆ Norwegian Air to buy regional peer Wideroe for $106 mln
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

OSLO, July 6 (Reuters) - Norwegian Air (NAS.OL) has agreed to buy domestic peer Wideroe for 1.13 billion crowns ($106 million) as the reborn airline looks to strengthen its position in its home region. "The transaction is expected to provide significant benefits for travellers, employees and shareholders, and to strengthen the combined Norwegian and Wideroe as a key part of critical domestic infrastructure," Norwegian Air said in a statement. An important part of the regional infrastructure, Wideroe owns 40 Bombardier Dash 8 aircraft, and three Embraer E190-E2 jets, with seat numbers in each plane ranging from 39 to 110. The deal comes only two years after Norwegian Air emerged from bankruptcy protection with a smaller fleet and its debt almost wiped out, having raised cash. Norwegian Air said the two carriers had very limited overlap on routes, and it saw potential annual synergies from the acquisition of 200-300 million crowns ($18.8-28.2 million).

Persons: Privately, Wideroe, Louise Breusch Rasmussen, Anna Ringstrom, Mark Potter Organizations: Bombardier Dash, Embraer, Norwegian Air, Boeing, Victoria, Thomson Locations: OSLO, Norwegian, Scandinavia's

☆ 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

☆ 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

☆ Royal Unibrew to buy Heineken's Vrumona
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

COPENHAGEN, July 3 (Reuters) - Danish brewer and beverage group Royal Unibrew (RBREW.CO) has agreed to buy soft drinks maker Vrumona from Heineken (HEIN.AS) for 300 million euros ($327 million), it said on Monday. Royal Unibrew said in a statement it expected to close the deal in September or October and it would finance it through committed extended financing facilities with existing banks. "Vrumona will become a new growth platform for Royal Unibrew in continental Europe and is expected to drive organic earnings growth in the coming years," CEO Lars Jensen said. Royal Unibrew expects the acquisition of Vrumona, which is located near Utrecht in the Netherlands, be earnings-per-share accretive in 2024, it said. ($1 = 0.9183 euros)Reporting by Louise Breusch Rasmussen, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

Persons: Royal Unibrew, Lars Jensen, Louise Breusch Rasmussen, Anna Ringstrom Organizations: Heineken, Unibrew, Thomson Locations: COPENHAGEN, Danish, Europe, Utrecht, Netherlands

☆ Disney accused in lawsuit of 'systematically' paying women less than men in California
▼ + stars: | 2023-07-01 | by ( Industry Insight | Corporate Attorneys Don T Want To Pay Law Firms For Chatgpt When They Could Use It Themselves | Zach Warren | ) www.reuters.com time to read: +2 min

[1/2] 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 PhotoJune 30 (Reuters) - Walt Disney (DIS.N) has been accused of systematically underpaying women in California in a lawsuit that alleges the company's female employees in the state earned $150 million less than their male counterparts over an eight year period. An analysis of Disney's human resource data from April 2015 through December 2022 has found female Disney employees were paid roughly 2% less than male counterparts, the filing said. Nine current or past Disney employees have joined the suit. Lower pay for women in California would breach the state's Equal Pay Act and the Fair Employment & Housing Act.

Persons: Brendan McDermid, Walt Disney, David Neumark, Shawna, Swanson, LaRonda Rasmussen, Lori Andrus, Dawn Chmielewski, Edwina Gibbs Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Disney, University of California Irvine, Housing, Thomson Locations: New York, U.S, California, Los Angeles

☆ Former world number one Wozniacki announces comeback
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

COPENHAGEN, June 29 (Reuters) - Caroline Wozniacki is set to make a comeback to tennis after the former world number one said on Thursday that she was ready to return to the Tour having retired from the sport in 2020 to start a family. Danish player Wozniacki spent 71 weeks at the top of the world rankings and finished with 30 singles titles - including a Grand Slam crown at the Australian Open in 2018. The United States Tennis Association later announced that Wozniacki, a two-time finalist at Flushing Meadows, had been awarded a wildcard for the Grand Slam that begins on Aug. 28. The Dane, who turns 33 next month, said she was inspired by 23-time Grand Slam champion Serena Williams after the American returned to the sport following the birth of her daughter Olympia. "I think that Serena doesn't get nearly enough credit for getting to so many Grand Slam finals after having Olympia," she said.

Persons: Caroline Wozniacki, Wozniacki, David Lee, Olivia, James, I'm, I've, Dane, Serena Williams, Olympia, Serena doesn't, Louise Breusch Rasmussen, Rohith Nair, Terje Solsvik, Alision Williams, Ken Ferris Organizations: NBA, Twitter, Canadian, U.S, U.S ., Vogue, United States Tennis Association, Flushing, Paris Olympics, Thomson Locations: COPENHAGEN, Danish, Montreal, Paris, New York, Flushing Meadows, Australia, Copenhagen, Bengaluru

Although only two people were expected to take part, the organisers said they would tear up and burn the Koran. Sweden sought NATO membership in the wake of Russia's invasion of Ukraine last year. But alliance member Ankara has held up the process, accusing Sweden of harbouring people it considers terrorists and demanding their extradition. While Swedish police have rejected several recent applications for anti-Koran demonstrations, courts have overruled those decisions, saying they infringed on freedom of speech. Prime Minister Ulf Kristersson said at a press conference on Wednesday he would not speculate about how the approved Koran burning could affect Sweden's NATO process.

Persons: Ulf Kristersson, Kristersson, Momika, Rasmus Paludan, Paludan, Louise Breusch Rasmussen, Marie Mannes, Johan Ahlander, Terje Solsvik, Peter Graff, Angus MacSwan Organizations: Police, NATO, Islam, Atlantic Treaty Organization, Swedish, Thomson Locations: STOCKHOLM, Stockholm, Turkey, Sweden, Ukraine, Ankara, Danish, Turkish, Saudi Arabia, Jordan, Kuwait, Copenhagen

[1/5] Police officers intervene after people's reaction as demonstrators burn the Koran (not pictured) outside Stockholm's central mosque in Stockholm, Sweden June 28, 2023. "It's legal but not appropriate," he said, adding that it was up to the police to make decisions on Koran burnings. Representatives of the mosque were disappointed by the police decision to grant permission for the protest on the Muslim holiday of Eid al-Adha, mosque director and Imam Mahmoud Khalfi said on Wednesday. Up to 10,000 visitors attend Stockholm's mosque for the Eid celebrations every year, according to Khalfi. Turkey in late January suspended talks with Sweden on its NATO application after a Danish far-right politician burned a copy of the Koran near the Turkish embassy in Stockholm.

Persons: Stefan Jerrevang, Hakan Fidan, Ulf Kristersson, Momika, Eid, Imam Mahmoud Khalfi, Khalfi, Louise Breusch Rasmussen, Marie Mannes, Johan Ahlander, Burcu Karakas, Terje Solsvik, Peter Graff, Angus MacSwan, William Maclean Organizations: Police, TT News Agency, REUTERS, NATO, Swedish, Islam, Atlantic Treaty Organization, Thomson Locations: Stockholm's, Stockholm, Sweden, REUTERS STOCKHOLM, Turkey, Ankara, Ukraine, Khalfi, Danish, Turkish, Copenhagen, Istanbul

☆ Bitcoin briefly rises above $31,000 to highest level in more than a year to cap the week
▼ + stars: | 2023-06-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Bitcoin broke above $31,000 Friday, building on recent gains fueled by institutions' commitment to layering crypto into their businesses. At one point, it hit a peak of $31,412.72, its highest level since June 8, 2022. "The long-term conviction of these financial behemoths — which include some of the most trusted names in asset management and retail investing — boosted sentiment and investor confidence when both were relatively low," said Ryan Rasmussen, analyst at Bitwise Asset Management. "It's a sign that the days are numbered for bad actors like Binance and FTX and that the crypto ecosystem is maturing. That's a powerful catalyst for the industry, which has been plagued at various times by fraudsters and detractors."

Persons: Bitcoin, Ryan Rasmussen, fraudsters Organizations: Metrics, Bitwise Asset Management

☆ Danish sailors rescued in Pacific after whale collision
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, June 22 (Reuters) - Eight Danes whose sailboat capsized in the Pacific Ocean following a collision with one or two whales were rescued overnight, the Danish Armed Forces said in a statement on Thursday. The initial satellite call was made by a female crew member to her father in Denmark, who contacted Danish rescue authorities before the case was transferred to JRCC Honolulu. They were later found by a fishing vessel and eventually transferred to a container ship which is now headed for Tahiti, the Danish Armed Forces said. Information from the crew indicated that the 51-foot long sailboat had collided with one or two whales, the military said. Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Louise Breusch Rasmussen, Terje Solsvik, Emelia Organizations: Danish Armed Forces, Joint Rescue Coordination, Thomson Locations: COPENHAGEN, Honolulu , Hawaii, Denmark, Danish, Honolulu, Tahiti

☆ 'Tough duel' ahead for Ukraine as Russia mounts fierce resistance to counteroffensive
▼ + stars: | 2023-06-20 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Ukrainian officials are the first to admit that the country's armed forces face a "tough duel" with Russia in the weeks and months ahead. Nonetheless, there is mounting pressure on Ukraine to produce solid results — and analysts told CNBC that expectations could be far too high. Oleksiy Goncharenko, a Ukrainian lawmaker, told CNBC Tuesday that it was too early in the counteroffensive to make a judgment call. Urging patience, Ukraine defense advisor Yuriy Sak told CNBC: "We understand that everybody — and us more than anybody else — wants [the counteroffensive] to be progressing faster." Anders Fogh Rasmussen, chair of Rasmussen Global and former Secretary General of NATO, told CNBC Tuesday that "we are much too slow."

Persons: Anatolii Stepanov, Yuriy Sak, Hanna Maliar, Maliar, Oleksiy, —, Sak, Anders Fogh Rasmussen, Putin, Fogh Rasmussen, Oleksiy Goncharenko, Oscar Del Pozo Organizations: AFP, Getty, CNBC, Ukrainian, Google, Defense, NATO, Rasmussen Global, Afp Locations: Blagodatne, Donetsk, Ukraine, Russia, Zaporizhia, Kharkiv, Kherson, Ukrainian, Kyiv, Spanish, San Gregorio, Zaragoza

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