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☆ Ferrari nudges up year forecasts after Q2 results, investors unimpressed
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

EBITDA of 2.19-2.22 bln euros this yearForecast on FY EBITDA margin unchanged at 38%FY revenue expected to grow to around 5.8 bln eurosAdj. The Italian company guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to grow to between 2.19 billion euros and 2.22 billion euros ($2.40 billion - $2.44 billion) this year, versus a previous forecast of between 2.13 billion and 2.18 billion euros. The expected cash generation was also broadly unchanged, at around 900 million euros versus a previous guidance of up to 900 million euros. Ferrari shares, which are up around 40% this year, erased small daily gains after the results were published. In the second quarter, adjusted EBITDA grew 32% to 589 million euros, in line with analysts' expectations of 580 million euros, according to a Reuters poll.

Persons: Andrew Boyers, Benedetto Vigna, Bernstein, Daniel Roeska, Vigna, Giulio Piovaccari, Gianluca Semeraro, Keith Weir, Sharon Singleton Organizations: Prix, Silverstone Circuit, REUTERS, Ferrari, Daytona, EMEA, Thomson Locations: Silverstone, Britain, MILAN, Italian, personalisations

☆ Leaked email shows Amazon formed a new group to work on the 'most ambitious' AI models
▼ + stars: | 2023-07-31 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon CEO Andy Jassy promoted Rohit Prasad, SVP and head scientist for Alexa, to his direct report. Prasad is now running a newly created AI team at Amazon. Jassy told Amazon's S-team, a group of over two dozen top executives, that he promoted Rohit Prasad, SVP and head scientist for Alexa, as his direct report. In this role, Prasad will lead a newly created group working on the company's "most ambitious" large language models, according to an internal email obtained by Insider. As part of its AI effort, Amazon recently created a new team under AWS focused on helping customers use generative AI, as Insider previously reported.

Persons: Andy Jassy, Rohit Prasad, Prasad, Jassy, Amazon's, Rohit, we've, didn't, Meta's, Dave Limp's, Limp, Daniel Rausch, Eugene Kim Organizations: Amazon, Google, Microsoft, AWS, Alexa

☆ Verstappen pips Piastri to pole for Spa sprint race
▼ + stars: | 2023-07-29 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

McLaren's Piastri had been on top of the timesheets until the final seconds when double world champion Verstappen went 0.11 quicker with a lap of one minute 49.056 seconds on a drying track. The standalone sprint format is being used at Spa for the first time, the third of six such events this season. Piastri said he "couldn’t have got much more out of that" and was happy to be on the front row. The provisional pole changed hands swiftly in the final shootout, with Hamilton fastest then Red Bull's Sergio Perez, Gasly, Sainz and Piastri before Verstappen's predictable final flourish. "It's good to get a clean end to qualifying," said Verstappen, with more rain forecast later.

Persons: Max Verstappen, Stephanie Lecocq, Perez, Max Verstappen pipped, Oscar Piastri, McLaren's Piastri, Verstappen, Ferrari's Carlos Sainz, Charles Leclerc, Piastri, McLaren's Lando Norris, Alpine's Pierre Gasly, Mercedes, Lewis Hamilton, Bull's Sergio Perez, Gasly, Sainz, Alpine's Esteban Ocon, Mercedes George Russell, Daniel Ricciardo 11th, Russell, Aston, Lance, Fernando Alonso, Christian Radnedge Organizations: Belgian, Prix, Spa, Ferrari, Sunday's, Hamilton, Thomson Locations: Spa, Belgium

☆ Bolivia challenges global dollar dominance with Chinese yuan, Russian rouble
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

LA PAZ, July 28 (Reuters) - Bolivia's government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows. Bolivia has faced months of severe dollar shortages, driven in part by falling natural gas production, a key national export. Net foreign currency reserves have fallen to roughly $4 billion from a peak of $15 billion in 2014, pressuring state finances and threatening Bolivia's long-defended currency peg with the dollar. Not in dollars, but in its own currency," Montenegro said. Financial transactions worth 278 million Chinese yuan ($38.7 million) accounted for 10% of Bolivia's foreign trade in May through July, Montenegro said.

Persons: Marcelo Montenegro, Mikhail Ledenev, Daniel Ramos, Lucinda Elliott, Richard Chang Organizations: LA, U.S, Banco Union, Russia's, Thomson Locations: LA PAZ, La Paz . Bolivia, China, Montenegro, Bolivian, Russian, Bolivia, Moscow, Western, Russia, Beijing, Brazil, Argentina

☆ Hamilton pips Verstappen for record pole in Hungary
▼ + stars: | 2023-07-22 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

We've been pushing so hard over this time to finally get a pole and it just feels like the first time." Every session has been up and down," said Verstappen, who had been chasing his sixth pole in a row. McLaren's Lando Norris qualified third with Australian rookie team mate Oscar Piastri alongside and Alfa Romeo's Guanyu Zhou fifth. The Australian, a winner in Hungary with Red Bull in 2014, will start 13th with Tsunoda 17th on the grid. China's Zhou was fastest in the first phase on hard tyres, with Norris quickest in phase two on mediums.

Persons: Hamilton, Verstappen, Norris, Lewis Hamilton, Max Verstappen, Briton, It's, I've, hoarse, I’ve, We’re, McLaren's Lando Norris, Oscar Piastri, Alfa Romeo's, Zhou, Ferrari's Charles Leclerc, Valtteri, Alfa Romeo, Fernando Alonso, Aston Martin, Red Bull's Sergio Perez, Haas's Nico Hulkenberg, George Russell, Russell, Daniel Ricciardo, Yuki Tsunoda, Red Bull, Ferrari's Carlos Sainz, Alonso pipped, China's Zhou, Alan Baldwin, Frances Kerry Organizations: Hamilton, Australian, Alfa, Aston, Verstappen, Miami, Tsunoda, Christian, Thomson Locations: Hungary, Hungarian, Saudi Arabia, Japanese, London

☆ Perez crashes in first Hungarian practice
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

[1/3] Formula One F1 - Hungarian Grand Prix - Hungaroring, Budapest, Hungary - July 21, 2023 Marshals remove Red Bull's Sergio Perez car from the track during practice REUTERS/Bernadett SzaboBUDAPEST, July 21 (Reuters) - Red Bull's Sergio Perez made a nightmare start to his Hungarian Grand Prix weekend by crashing after two minutes of Friday's opening practice before rain made the rest of the session largely meaningless. "I cannot believe this," said Perez over the team radio, with the stricken car looking like it had suffered some heavy damage. Perez missed the rest of the session, with the car taken back to the pits on a truck for mechanics to start what could be extensive repairs. Mercedes' seven times world champion Lewis Hamilton, winner a record eight times in Hungary, was one of the seven. Ferrari's Carlos Sainz also brought out red flags when he beached his car on a kerb at turn three with 14 minutes remaining.

Persons: Sergio Perez, Bernadett Szabo, Bull's Sergio Perez, Max Verstappen, Perez, Red Bull, Daniel Ricciardo, Christian Horner, Mercedes, George Russell, Oscar Piastri, Lance, Aston Martin, Lando Norris, Verstappen, Lewis Hamilton, Ferrari's Carlos Sainz, Alan Baldwin, Toby Davis Organizations: REUTERS, Hungarian, Red, McLaren, Aston, Briton, Thomson Locations: Budapest, Hungary, Bernadett Szabo BUDAPEST, London

☆ Ricciardo says he's refreshed and ready to go
▼ + stars: | 2023-07-20 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

July 20 (Reuters) - Daniel Ricciardo said he was refreshed and ready to go for a Formula One comeback with AlphaTauri at the Hungarian Grand Prix that he hopes will lead to a dream return to dominant champions Red Bull. The eight times grand prix winner has replaced Dutch driver Nyck de Vries at Red Bull's sister team for the rest of the season. "The dream is a Red Bull seat but there is no 'this is what you need to do'," said Ricciardo, who had been due to spend the 2023 season as Red Bull reserve while assessing his future after a tough two years at McLaren. Red Bull boss Christian Horner said this week that Ricciardo had returned with some 'bad habits' but was now back to the driver of old. "I think the time off was really, really beneficial for me and I'm in a place now where I'm just hungry and ready to go...so, pretty pumped."

Persons: Daniel Ricciardo, AlphaTauri, Red Bull, Nyck de Vries, Red, Mexican Sergio Perez, Max Verstappen, Ricciardo, I've, I'm, Bull, de Vries, it's, Oscar Piastri . Red Bull, Christian Horner, It's, Alan Baldwin, Toby Davis Organizations: Formula, Red, Red Bull, McLaren, Silverstone, Renault, Thomson Locations: Hungarian, Dutch, Mexican, Budapest, London

☆ Ricciardo's return changes nothing, says under-pressure Perez
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

July 20 (Reuters) - Under-pressure Red Bull driver Sergio Perez shrugged off the threat of Daniel Ricciardo's return to the Formula One grid at the Hungarian Grand Prix, saying on Thursday it changed nothing for him. "From my side it doesn't change anything because I drive for Red Bull," he added. It's (AlphaTauri's Japanese driver) Yuki (Tsunoda), it's more than half of the grid would like to drive for Red Bull. Perez won two of the season's first four races and had challenged Verstappen for the overall lead before the Dutch driver powered away. Red Bull boss Christian Horner said this week that the team planned to keep an unchanged lineup in 2024.

Persons: Red Bull, Sergio Perez shrugged, Daniel Ricciardo's, Max Verstappen, Ricciardo, Nyck de Vries, Red, AlphaTauri, Bull, Daniel, he's, Perez, There's, Yuki, Verstappen, I've, I’ve, Christian Horner, Max, Checo, it's, Alan Baldwin, Toby Davis Organizations: Red, Bull, Thomson Locations: Hungarian, Dutch, London

☆ A Montana couple spent $20,000 building a 2-bedroom house, and now they're debt-free. There's just one catch: The house is made of clay, sand, and straw.
▼ + stars: | 2023-07-18 | by ( Amanda Goh | ) www.businessinsider.com time to read: +13 min

Daniel Ray, the owner, estimates that they spent less than $20,000 on the entire construction. Daniel Ray/Spiritwood Natural BuildingBut it wasn't until a couple of years later that the couple finally had a chance to turn it into reality. They saw their first cob house as practice for the new space they had in mind. "We both had full-time jobs and then would also work about 40 hours a week on building the house," Ray said. It's also going to reduce the amount of effort that you have to put into building the house," Ray said.

Persons: Daniel Ray, Daniel, Katherine Ray, Ray, they'd, that's, it's, didn't, It's, Katherine Organizations: Service Locations: Montana, Wall, Silicon, Wales, Vancouver, British Columbia, Bitterroot, Victor , Montana, Mexico, India, Moroccan, Victor

☆ How to Treat Loneliness With Medicine - The New York Times
▼ + stars: | 2023-07-14 | by ( Eleanor Cummins | Andrew Zaleski | ) www.nytimes.com time to read: +3 min

“Addressing the crisis of loneliness and isolation is one of our generation’s greatest challenges,” wrote Surgeon General Vivek Murthy in The Times in April, discussing a national framework for rebuilding social connection to combat what he called an “epidemic” of loneliness. If loneliness is an epidemic, how do you treat it? This calls to mind a trip to the pharmacy to pick up a bottle of pills, but treating loneliness the same way doctors treat high cholesterol isn’t exactly the idea here. Even Dr. Cacioppo, who has dedicated her life to studying human connection, including pharmaceutical solutions for loneliness, questions the value of medicalizing it. “We need to be accountable for the well-being of our friends and teammates and others.”Declaring loneliness an epidemic first requires an understanding of what loneliness is and how it works in the brain.

Persons: ”, Vivek Murthy, isn’t, Daniel Russell, Russell who, Cacioppo Organizations: The Times, Iowa State University Locations: The

Mr. Fitzsimons’s sentence, handed down by Judge Rudolph Contreras in Federal District Court in Washington, was one of a growing list of stiff penalties given to rioters who attacked the police on Jan. 6. Image Mr. Fitzsimons at the Capitol on Jan. 6. Credit... via Justice DepartmentIn May, Peter Schwartz, a Pennsylvania welder who hurled a chair at officers and then assaulted them with chemical spray, was sentenced to slightly more than 14 years in prison. On Wednesday, Daniel Lyons Scott, a member of the Proud Boys who “bulldozed two officers,” prosecutors said, while leading a charge against the police outside the Capitol, was sentenced to five years in prison. Mr. Fitzsimons was sentenced the same day that another Jan. 6 defendant, Alan Hostetter, a former Southern California police chief, was convicted on four charges, including conspiring to obstruct the certification of the 2020 election that took place at the Capitol that day. Mr. Fitzsimons was convicted at a bench trial in September of 11 crimes, including the assaults.

Persons: Judge Rudolph Contreras, Fitzsimons, Peter Schwartz, Daniel Rodriguez, Michael Fanone, Daniel Lyons Scott, “, Alan Hostetter, Hostetter, Prosecutors, Fitzsimons’s, ” Organizations: Court, Capitol, Justice Department, Trump, Southern California police Locations: Washington, Pennsylvania, California, Southern California

LOS ANGELES, July 12 (Reuters) - Nominations were announced on Wednesday for the Emmy Awards, the highest honors in television. Following is a list of nominees in key categories. The awards are scheduled to be handed out in a televised ceremony in Los Angeles on Sept. 18. BEST DRAMA SERIES"Andor""Better Call Saul""The Crown""House of the Dragon""The Last of Us""Succession""The White Lotus""Yellowjackets"BEST COMEDY SERIES"Abbott Elementary""Barry""Jury Duty""The Bear""The Marvelous Mrs. Maisel""Only Murders in the Building""Ted Lasso""Wednesday"BEST LIMITED OR ANTHOLOGY SERIES"Beef""Black Bird""Dahmer-Monster: The Jeffrey Dahmer Story""Daisy Jones & The Six""Fleishman is in Trouble""Obi-Wan Kenobi"BEST COMEDY ACTORBill Hader, "Barry"Martin Short, "Only Murders in the Building"Jason Sudeikis, "Ted Lasso"Jeremy Allen White, "The Bear"Jason Segel, "Shrinking"BEST COMEDY ACTRESSChristina Applegate, "Dead to Me"Rachel Brosnahhan, "The Marvelous Mrs. MaiselQuinta Brunson, "Abbott Elementary"Natasha Lyonne, "Poker Face"Jenna Ortega, "Wednesday"BEST DRAMA ACTORBrian Cox, "Succession"Kieran Culkin, "Succession"Bob Odenkirk, "Better Call Saul"Pedro Pascal, "The Last of Us"Jeremy Strong, "Succession"Jeff Bridges, "The Old Man"BEST DRAMA ACTRESSMelanie Lynskey, "Yellowjackets"Elisabeth Moss, "The Handmaid's Tale"Bella Ramsey, "The Last of Us"Sarah Snook, "Succession"Sharon Horgan, "Bad Sisters"Keri Russell, "The Diplomat"BEST ACTOR, LIMITED SERIES OR MOVIETaron Egerton, "Black Bird"Evan Peters, "Dahmer-Monster: The Jeffrey Dahmer Story"Daniel Radcliffe, "Weird: The Al Yankovic Story"Michael Shannon, "George & Tammy"Steven Yeun, "Beef"Kumail Nanjiani "Welcome to Chippendales"BEST ACTRESS, LIMITED SERIES OR MOVIELizzy Caplan, "Fleishman Is In Trouble"Dominique Fishback, "Swarm"Riley Keough, Daisy Jones & The Six"Jessica Chastain, "George and Tammy"Ali Wong, "Beef"Kathryn Hahn, "Tiny Beautiful Things"Reporting by Danielle BroadwayOur Standards: The Thomson Reuters Trust Principles.

Persons: Saul, Abbott, Barry, Ted Lasso, Dahmer, Jeffrey Dahmer, Daisy Jones, Obi, Wan, Bill Hader, Martin, Jason Sudeikis, Jeremy Allen White, Jason Segel, Christina Applegate, Rachel Brosnahhan, Maisel Quinta Brunson, Natasha Lyonne, Jenna Ortega, Brian Cox, Kieran Culkin, Bob Odenkirk, Pedro Pascal, Jeremy Strong, Jeff Bridges, Melanie Lynskey, Elisabeth Moss, Bella Ramsey, Sarah Snook, Sharon Horgan, Keri Russell, Egerton, Evan Peters, Daniel Radcliffe, Al Yankovic, Michael Shannon, George, Tammy, Steven Yeun, Lizzy Caplan, Dominique Fishback, Riley Keough, Jessica Chastain, Ali Wong, Kathryn Hahn, Danielle Broadway Organizations: Thomson Locations: ANGELES, Los Angeles

☆ Elizabeth Holmes now has a shorter prison sentence, but she'll still owe victims $452 million along with her former Theranos partner. She might never have to fully pay up.
▼ + stars: | 2023-07-12 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +5 min

A federal court ordered Elizabeth Holmes and Sunny Balwani to pay $452 million. Defendants hit with such orders to pay victims may see it come out of any eventual wages they earn. So how will Holmes and her former business partner Sunny Balwani navigate a $452 million restitution order? Former Theranos CEO Elizabeth Holmes arrives at federal court with her partner Billy Evans on November 18, 2022. According to the restitution order, Holmes and Balwani are responsible for $125 million in restitution to Murdoch, $40 million to Walgreens, and $14.5 million to Safeway.

Persons: Elizabeth Holmes, Sunny Balwani, Rupert Murdoch, Holmes, Daniel Richman, Evan Gotlob, Saul Ewing, Billy Evans, Justin Sullivan, Justice Department's, It's, Balwani, Insider's, Murdoch, Gotlob, There's Organizations: Morning, News Corp, Walgreens, Safeway, Forbes, Federal, Office, Columbia Law School, Justice, US, Prosecutors Locations: California, Arizona, Manhattan, Boston, Northern California

☆ Daniel Ricciardo returns to F1 grid as Australian driver replaces Nyck de Vries at AlphaTauri
▼ + stars: | 2023-07-12 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Daniel Ricciardo is making a surprising mid-season return to the Formula One grid, with the Australian driver replacing the struggling Nyck de Vries at AlphaTauri. Ricciardo, currently a Red Bull reserve driver, is being sent “on loan” to Red Bull’s feeder team for the remainder of the 2023 season, the team announced Tuesday. The 34-year-old, who will race for AlphaTauri in the next grand prix in Hungary on July 23, said he was “stoked to be back on track with the Red Bull family,” according to the F1 website. “It was great to see Daniel hasn’t lost any form while away from racing and that the strides he has been making in his SIM sessions translate on track,” Red Bull team principle Christian Horner said. After a fast start to the season, Perez has made the podium just once in the last five races.

Persons: CNN — Daniel Ricciardo, Vries, Ricciardo, “, ”, Bull, Lawrence Barretto, Daniel hasn’t, Red, Christian Horner, Daniel, ” Ricciardo, AlphaTauri –, Toro Rosso –, Red Bull, De Vries, Mark Thompson, Pierre Gasly, Toro Rosso, Alex Albon, ’ Sergio Perez, Max Verstappen, Perez Organizations: CNN, Red Bull, AlphaTauri, Scuderia AlphaTauri, Bull, Renault, McLaren, Red, Monaco Locations: AlphaTauri, Hungary, British

☆ Celebrities like Ryan Reynolds and Gwyneth Paltrow are flocking to LinkedIn to show off their business acumen
▼ + stars: | 2023-07-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

LinkedIn is a professional social media platform for normies, but now celebrities want in too. Stars like Ryan Reynolds and Gwyneth Paltrow are showing off their business side on the platform. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Reynolds's posts include promoting Mint Mobile and his other business ventures, such as ownership of Welsh soccer team Wrexham. He's not the only celebrity to do so with Mindy Kaling, Jennifer Lopez, and Gwyneth Paltrow also making an effort to blend into the professional world of LinkedIn.

Persons: Ryan Reynolds, Gwyneth Paltrow, Reynolds, I've, He's, Mindy Kaling, Jennifer Lopez, they've, Jenna Drenten, influencers, Richard Burton, Mark Borkowski, Daniel Roth, there's, Amobi Okugo, Raphaël Varane, Okugo Organizations: Service, LinkedIn, Mint Mobile, Mobile, Street, Welsh, Welsh soccer, Wrexham, Social, Twitter, Chicago's Quinlan School of Business, Financial Locations: Wall, Silicon

☆ Bolivia seals $1.4 billion lithium deals with Russia's Rosatom, China's Guoan
▼ + stars: | 2023-06-29 | by ( Daniel Ramos | ) www.reuters.com time to read: +2 min

LA PAZ, June 29 (Reuters) - Bolivia has signed lithium agreements with Russian state nuclear firm Rosatom and China's Citic Guoan Group, the South American country's government said on Thursday, as it looks to develop its huge but largely untapped resources of the battery metal. Bolivia's iconic salt flats are home to the world's largest lithium resources at 21 million tons, according to the U.S. Geological Survey, but the country has long struggled to ramp up industrial production or develop commercially viable reserves. Russia's Rosatom, which bid via its Uranium One Group unit, confirmed the news, saying it would invest $600 million in the project, its first large-scale lithium venture overseas, with planned annual capacity of 25,000 tons of lithium carbonate. The deal with Uranium One Group was for feasibility and pre-investment studies, he said, adding multiple tests with Russian technology on the salt flats had shown a lithium recovery rate over 80%, with a purity of around 99.5%. Reporting by Daniel Ramos; Additional reporting by Maxim Rodionov; Writing by Adam Jourdan; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Energy Franklin Molina, Molina, Russia's, Rosatom's, Kirill Komarov, Citic, Daniel Ramos, Maxim Rodionov, Adam Jourdan, Richard Chang Organizations: LA, Guoan, American, Energy, . Geological Survey, Tesla, BMW, Uranium, Thomson Locations: LA PAZ, Bolivia, United States, America, La Paz, Pasto Grande, Uyuni Norte

☆ Hans Niemann: Judge dismisses chess grandmaster’s $100 million lawsuit against Magnus Carlsen, among others, in cheating scandal
▼ + stars: | 2023-06-28 | by ( Ben Morse | ) edition.cnn.com time to read: +6 min

CNN —A US judge on Tuesday dismissed the $100 million defamation lawsuit filed by American chess grandmaster Hans Niemann against Magnus Carlsen, among others, in an alleged cheating scandal which has rocked the sport, according to court documents. Niemann’s lawsuit, which was filed in October last year, came after an alleged cheating scandal which sent shockwaves through the sport. 1 Carlsen accused Niemann of cheating at the $350,000 Sinquefield Cup in St. Louis, Missouri. In his second amendment, Niemann alleged that Carlsen paid a friend $328 (€300) to shout “Cheater Hans” from the stands at the closing ceremony of a tournament. Fewer than 0.14% of players ever cheat on the site, according to the company’s report on Niemann’s alleged behavior.

Persons: Hans Niemann, Magnus Carlsen, Audrey Fleissig, Niemann’s, Carlsen, Daniel Rensch, Nakamura, ” Niemann, “, Fleissig, Niemann, Hans Niemann’s, ” Craig Reiser, ” Nima H, Mohebbi, Jamie Wine, Magnus, Rensch –, Jose Mourinho, ”, Chess.com, –, Niemann “, Hans, Hans ”, “ We’re, Erik Allebest, Rensch, ” Chess.com Organizations: CNN, Chess.com, Louis Chess Club Locations: Missouri, St, Louis , Missouri, Warsaw, Poland, American

The drain in hard currency sparked panic earlier in the year, with Bolivians forming lines outside banks to withdraw dollars. Bond yields spiked sharply and in May the government was forced to sell half of its $2.6 billion gold reserves to raise cash. A major drought in Argentina has hammered grains output and reserves, imperiling a $44 billion debt deal with the International Monetary Fund. "The model is now shifting towards a very big state, a tax-and-spend approach," he said. "It has calmed people a bit... but that amount (gained from the gold reserves sale), $1.3 billion, is not enough for Bolivia," said local financial analyst Jaime Dunn.

Persons: Read, LA, Evo Morales, Jose Gabriel Espinoza, Marcelo Montenegro, Alberto Ramos, Goldman Sachs, spender, Jaime Dunn, Reuters Graphics Espinoza, Morales, Raúl Cortés Fernández, Daniel Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Departmental Association of Coca Producers, LA PAZ, Reuters, International Monetary Fund, Bolivian, Graphics, Banco, Reuters Graphics, MAS, Thomson Locations: La Paz, Bolivia, Bolivian, America, Argentina, Peru, Brazil, Chile, Colombia

☆ Ricciardo says racing for Red Bull again would be 'fairytale'
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - Australian Daniel Ricciardo has raised the possibility of racing again for Red Bull as a 'fairytale' ending to his Formula One career. The 33-year-old is spending a year on the sidelines as Red Bull reserve after being replaced at McLaren by compatriot Oscar Piastri. Ricciardo raced for Red Bull from 2014 to 2018, winning seven races, after two seasons with sister team Toro Rosso (now AlphaTauri) from 2012-13. "Honestly, the fairytale ending (would be) to finish my career here (at Red Bull) if I could have it all my own way," he said. Ricciardo has been working in the simulator and will drive the Red Bull car at a Silverstone tyre test after next month's British Grand Prix.

Persons: Daniel Ricciardo, Red Bull, Oscar Piastri, Ricciardo, Toro Rosso, Max Verstappen, Yuki Tsunoda, Nyck de Vries, Bull, Verstappen, Mexican Sergio Perez, Perez, Alan Baldwin, Toby Davis Organizations: Red Bull, McLaren, ESPN, Silverstone, Thomson Locations: Mexican, British, London

☆ Perez's seat with Red Bull safe for now says Button
▼ + stars: | 2023-06-20 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

June 20 (Reuters) - Sergio Perez's seat with Red Bull is safe for this Formula One season, former champion Jenson Button said on Tuesday, but if the Mexican's struggles continue he could be looking for another team next year. Horner also said the team was going to stand by Perez and help him through the slump but Red Bull have not always shown patience with under-performing drivers. DRIVERS SHAKE-UPScenarios are starting to emerge about what a possible drivers shake-up at Red Bull might look like. One rumour has Ricciardo, who previously drove for Red Bull from 2014-18, going from a reserve role to a seat with sister outfit AlphaTauri, replacing under-performing Nick de Vries. Such a move would allow Australian Ricciardo to remove some competitive rust and make a seamless transition back into the Red Bull seat if Perez was dumped.

Persons: Sergio Perez's, Red Bull, Jenson Button, Perez, Max Verstappen, Aston Martin's Fernando Alonso, Christian Horner, Horner, Bull, Daniel Ricciardo, I've, Max, he's, Nick de Vries, Button, Vries, Yuki, Tsunoda, Steve Keating, Ken Ferris Organizations: Red Bull, Team, Briton, Red, NASCAR, Le, International Motor Sports Association, IMSA, Thomson Locations: Red, Montreal, Chicago, Toronto

June 16 (Reuters) - Volkswagen (VOWG_p.DE) will face investors hungry for answers at its capital markets day next Wednesday on how it will achieve high cost-cutting targets and whether it will heed their calls for an independent audit of its co-owned Xinjiang plant. "The 21 June CMD is an opportunity to reset a fraught relationship with investors, a challenging exercise," Jefferies wrote in a note on Friday. Investors also demanded that Volkswagen conduct an independent audit of the Urumqi plant, which executives have is only possible with the agreement of joint venture partner SAIC (600104.SS). Alongside targets, investors needed details on how the carmaker expects to make its EV production more cost-effective, Daniel Roeska of Bernstein Research wrote in a note on Thursday. "The risk is that instead we see more punchy earnings and volume targets, with little to support them," he added.

Persons: CMD, Jefferies, carmaker, Oliver Blume, Arno Antlitz, Blume, Daniel Roeska, Jan Schwartz, Victoria Waldersee, Conor Humphries Organizations: Porsche, Volkswagen, Investors, SAIC, Bernstein Research, Thomson Locations: Xinjiang, Urumqi, Germany

☆ Elizabeth Holmes says she can't pay $250 a month in restitution after she's released from prison: report
▼ + stars: | 2023-06-13 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

Along with Ramesh "Sunny" Balwani, Holmes was ordered to pay $452,047,268 in restitution. Elizabeth Holmes won't be able to afford $250 a month restitution payments when she's released from a Texas prison, her attorneys argued. It's common for funds like these to never fully be paid out, experts previously told Insider. This week, prosecutors proposed that Holmes pay it month-by-month upon her release, in $250 increments, Bloomberg reported. According to the original restitution order, Holmes and Balwani will have to pay $40 million to Walgreens, and $14.5 million to Safeway.

Persons: Elizabeth Holmes, Ramesh, Sunny, Balwani, Holmes, she's, Daniel Richman, wasn't, Rupert Murdoch Organizations: Prosecutors, Columbia Law School, Bloomberg, New York Times, Walgreens, Safeway Locations: Texas, Manhattan

☆ Reactions to charges against Donald Trump in classified documents case
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +4 min

[1/3] Former U.S. President and Republican presidential candidate Donald Trump gestures during a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. REUTERS/Brian SnyderJune 9 (Reuters) - Court documents made public on Friday detailed 37 criminal counts against former U.S. President Donald Trump, including charges of unauthorized retention of classified documents and conspiracy to obstruct justice after he left the White House in 2021. *Senator John Barrasso, chairman of the Senate Republican Conference“This indictment certainly looks like an unequal application of justice. Hillary Clinton had a computer server in her house with classified documents. It feels political, and it’s rotten.”*Democratic Senator Debbie Stabenow"He stored highly classified documents in his bathroom!?

Persons: Donald Trump, Brian Snyder, Jack Smith, Kevin McCarthy, we're, Joe Biden, General Merrick Garland, Trump, Biden, I’m, Ron DeSantis, DeSantis, Hillary, Chris Christie, Donald Trump's, Sarah Matthews, Daniel Richman, John Barrasso, Biden’s, Hillary Clinton, Debbie Stabenow, Todd Huntley, Andy Briggs, Matt Bennett, Trump’s, Republican Representative Denver, —, Jonathan Oatis, Leslie Adler Organizations: U.S, Republican, REUTERS, White House, Fox News, Twitter, Trump, GOP, Republicans, Columbia Law School, Senate Republican Conference, Georgetown University, Republican U.S, Republican Representative, intel, Reuters, Thomson Locations: Manchester , New Hampshire, U.S, United States, Ron DeSantis , Florida, New Jersey, Delaware

☆ Formula 1 is making its first scripted TV show in a move to build on the success of 'Drive to Survive' and expand the sport's media prowess
▼ + stars: | 2023-06-09 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

The motorsport is expanding its media reach after the docuseries "Drive to Survive" brought it to new audiences. Felicity Jones is set to star in and co-produce the show, which comes from Bedrock Entertainment. Formula 1 is moving into scripted TV following its success with the docuseries "Drive to Survive" with a new family drama set in the racing world. As with "Drive to Survive," F1 plans to offer producers access to the sport to help make the show a success. Bedrock Entertainment and F1 said they will "leverage the combined access and power of F1 to create a seamless and authentic world, blending fiction with the real world."

Persons: Felicity Jones, Tony, Dan Sackheim, Felicity Jones —, Brad Pitt, Damson Idris, Joseph Kosinski, Jerry Bruckheimer, Lewis Hamilton, Peyton Manning's, Will Arnett, Daniel Ricciardo Organizations: Bedrock Entertainment, ITV Studios, Entertainment, Pictures, B Entertainment, Netflix, Peyton Manning's Omaha Productions, ESPN, Paramount Locations: Hollywood, Austin

And while Musk has mentioned the trip in two posts since leaving, he didn't tweet once while in China. That said, after three years of harsh COVID curbs that hampered entry into China, foreign CEOs appear eager to get the lay of the land. Sixty-seven foreign business leaders attended the high-profile China Development Forum this year, although that is still 20 fewer than in 2019. The few known comments by foreign CEOs whilst they were in China have been in line with Biden's stance that he is not seeking to decouple the world's two largest economies. The foreign ministry quoted Musk as saying he was opposed to a decoupling of the U.S. and China economies which he described as "conjoined twins".

Persons: Elon Musk, Goldman Sachs, David Solomon, Musk, Goldman's Solomon, wariness, Xi, Noah Fraser, Tesla, Goldman, Joe Biden, Tim Cook, Patrick Gelsinger, Mary Barra, Stephen Schwarzman, Jamie Dimon, Christopher Johnson, JPMorgan's Dimon, Daniel Russel, Brenda Goh, Joe Cash, Selena Li, Zhang Yan, David Brunnstrom, David Shepardson, Edwina Gibbs Organizations: Media, Twitter, Canada China Business Council, EU Chamber of Commerce, U.S . Department of Commerce, U.S, flashpoints, General Motors, China, China Strategies, U.S ., JPMorgan, Blackstone, Intel, JPMorgan Global China Summit, Asia Society Policy Institute, Thomson Locations: SHANGHAI, BEIJING, China, Shanghai, U.S, Washington, Beijing, Blackstone's, East, Hong Kong

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