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[1/2] A view of burned debris after wildfires devastated the historic town of Lahaina, Maui, Hawaii, U.S., August 10, 2023. Maui County sued Hawaiian Electric last week, accusing the utility of negligently failing to shut off power and causing the devastating fires that destroyed the coastal town of Lahaina and killed more than 114 people. "We were surprised and disappointed that the County of Maui rushed to court even before completing its own investigation," CEO Shelee Kimura said in a statement. Even with Monday's rally, shares are still down more than 60% since the wildfires started on Aug. 8. "To the extent HECO (Hawaiian Electric Co) has information of a second ignition source, HECO should offer that evidence now.

Persons: Shelee Kimura, HECO, John Fiske, Raymond James, Pavel Molchanov, Arunima Kumar, Mrinalika Roy, Louise Heavens, Mark Potter, Maju Samuel, Shounak Organizations: Hawai'i Department of Land, Natural Resources, REUTERS, Hawaiian Electric Industries, Hawaiian Electric, Electric, Thomson Locations: Lahaina, Maui, Hawaii, U.S, Maui County, West Maui, Bengaluru

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. Brent crude settled 6 cents lower at $84.42 a barrel, after touching a session high of over $85 earlier in the day. Tropical Storm Idalia was expected to intensify into a major hurricane on Monday as it barrelled toward Florida's Gulf Coast. Some worried it could hit the eastern side of U.S. Gulf Coast crude production. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Brent, Jerome Powell, Dennis Kissler, Ole Hansen, Tony Sycamore, Alex Lawler, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton, David Gregorio, Tomasz Janowski Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, HOUSTON, . West Texas, Federal, BOK, Saxo Bank, Gulf, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S, Gulf Coast, Gulf, OPEC, Saudi Arabia, London

Green hydrogen, produced by splitting water through electrolysis using renewable energy, is expected to play a key role in decarbonising transport and industries. But it is produced today on a very small scale and costs up to five times more than the most common hydrogen produced from natural gas, which is highly carbon-intensive. It sharply reduces the cost of electricity for the electrolysis process, which accounts for more than 70% of green hydrogen production costs, the company said. BP, which aims to sharply reduce its carbon emissions in the coming decades, is betting big on green hydrogen. By 2030, it aims to produce between 0.5 and 0.7 million tonnes per year of primarily green hydrogen.

Persons: Ron Bousso, Louise Heavens Organizations: BP Ventures, Mitsubishi Heavy Industries, Clean Energy Ventures, Gatemore Capital Management, BP, Thomson

☆ Changan Ford Motor to set up electric car JV with Chongqing Changan Auto
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Workers assemble vehicles at a plant of Changan Ford, a joint venture between Changan Automobile and Ford Motor Company, in Harbin, Heilongjiang province, China February 22, 2017. REUTERS/Stringer/File PhotoBEIJING, Aug 11 (Reuters) - Changan Ford Motor plans to set up a new-energy passenger car joint venture with state-owned Chongqing Changan Automobile (000625.SZ), according to a document published by China's market regulator on Friday. Changan Ford Motor will own a 60% stake and Chongqing Changan Automobile will have the remaining 40% stake. In the future, the joint venture plans to engage in the "supply business of mainstream brand new energy passenger vehicles and the distribution business of Ford brand models that Changan Ford has invested in," the statement said. Officials at Ford and Changan could not immediately be reached for further comment.

Persons: Changan Ford, Stringer, Ford, Tesla, Farah Master, Twinnie Siu, Zhang Yan, Ben Klayman, Louise Heavens, Susan Fenton Organizations: Changan Automobile, Ford Motor Company, REUTERS, Ford Motor, Chongqing Changan Automobile, Ford, China Association of Automobile Manufacturers, Thomson Locations: Harbin, Heilongjiang province, China, BEIJING, Chongqing, Changan, Hong Kong, Shanghai, Beijing, Detroit

☆ Indonesia says Mitsubishi Motors plans to invest $375 mln in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

A man walks near Mitsubishi cars as he visits Tokyo Motor Show in Tokyo, Japan October 24, 2019. "We are optimistic that, if implemented, this can boost investment and increase demand to use EVs," Agus said. A Mitsubishi spokesperson said executives from its Tokyo headquarters on Wednesday met with Agus for talks, declining to comment further. Mitsubishi reported combined retail and wholesale sales in the ASEAN region of 120,000 vehicles for the three months to June 30, dropping 1.6% from a year earlier. In Thailand, its retail and wholesale sales slumped to 17,000 units during that period, down from 25,000 a year earlier.

Persons: Soe Zeya, Agus Gumiwang Kartasasmita, Agus, Bernadette Christina, Fransiska, Rocky Swift, Daniel Leussink, Louise Heavens, David Evans Organizations: Mitsubishi, Tokyo Motor, REUTERS, Mitsubishi Motors, Wednesday, Japan's Nikkei, Guangzhou Automobile Group, Thomson Locations: Tokyo, Japan, JAKARTA, Indonesia, Thailand, China, ASEAN, Jakarta

☆ Flutter's US bet drives first half profit 76% higher
▼ + stars: | 2023-08-09 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

The Dublin-based company said this made it the first online betting operator to turn a profit in the U.S and it did so six months ahead of schedule. Analysts at JPMorgan also noted a more cautious outlook on Australia, where Flutter's first half revenues fell by 1%. The U.S. profits contributed to reported EBITDA of 765 million pounds across the group, versus the 731 million pounds forecast by eight analyst polled by Refinitiv. Flutter and broadcaster Fox Corporation (FOXA.O) said last month it would close the FOX Bet sports betting platform. That would eclipse the record full year earnings of 1.4 billion pounds Flutter posted during the COVID-19 online betting boom of 2020.

Persons: Dado Ruvic, Jefferies, Paddy Power, Padraic Halpin, Louise Heavens, Barbara Lewis Organizations: REUTERS, JPMorgan, PokerStars, Ireland, Refinitiv, FOX Bet, Fox Corporation, Thomson Locations: Dublin, U.S, Australia

☆ Russia to widen scope of digital rouble testing from Aug. 15 -central bank
▼ + stars: | 2023-08-09 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +2 min

Russia, like many countries, has been developing a central bank digital currency (CBDC) - digital tokens issued by central banks - over the last couple of years in a bid to modernise its financial system and head off cryptocurrencies such as bitcoin. "We expect to test operations with real customers," the central bank's First Deputy Governor Olga Skorobogatova said on Wednesday. The pilot test will include opening digital wallets, making purchases with digital roubles and transfers between around 600 customers and 30 companies from 11 cities. The digital rouble is scheduled to be widely introduced in 2025. Next year, the central bank will expand the list of participants, with another 19 banks keen to join the pilot, Skorobogatova said.

Persons: Maxim, Olga Skorobogatova, Skorobogatova, Elena Fabrichnaya, Alexander Marrow, Louise Heavens Organizations: REUTERS, Council, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Caribbean, Nigeria, U.S, China, Ukraine

[1/2] The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File PhotoCompanies Siemens AG FollowVIENNA/MUNICH, Aug 8 (Reuters) - Siemens (SIEGn.DE) is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Siemens said the investigation was based on information the company had provided to the public prosecutor's office in the course of an ongoing compliance investigation. "Siemens is cooperating fully with the authorities," the engineering company said, adding that it would not comment on ongoing investigations. Austrian prosecutors said that five people had been arrested as part of the investigation, with several house searches taking place last week.

Persons: Arnd, Feldkirch, KHBG, Martina Ruescher, Alexandra Schwarz, Alexander Huebner, John Revill, Friederike Heine, Miranda Murray, David Goodman, Louise Heavens Organizations: Siemens, REUTERS, Companies Siemens AG, Welt, Smart Infrastructure, Thomson Locations: Zug, Switzerland, MUNICH, Austria, Vorarlberg, Vienna, Munich

Germany, which has been courting the world's largest contract chipmaker since 2021, will contribute up to 5 billion euros to the factory in Dresden, capital of the eastern state of Saxony, German officials said. "There is going to be a real ecosystem for semiconductor manufacturing in Germany," said economy minister Robert Habeck. VOTE OF CONFIDENCETSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. Semiconductor makers Intel (INTC.O) and Wolfspeed (WOLF.N) have already taken advantage of the subsidies on offer to set up shop in Germany. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

Persons: Robert Habeck, TSMC, Germany's Bosch, Habeck, Ben Blanchard, Thomas Escritt, Louise Heavens, Mark Potter Organizations: Taiwan Semiconductor Manufacturing, European Union, Semiconductor Manufacturing Company, Infineon, Semiconductor, Intel, EU, Sony, Thomson Locations: Dresden, Arizona, TAIPEI, BERLIN, Germany, Europe, Taiwan, China, Asia, United States, Saxony, Netherlands, Ukraine, U.S, Japan

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

☆ Exclusive: CEZ plans to bid for Czech gas distribution network GasNet
▼ + stars: | 2023-08-07 | by ( Jan Lopatka | ) www.reuters.com time to read: +3 min

Electricity transmission lines carry power from CEZ's Ledvice coal-fired power plant near the village of Ledvice, Czech Republic, February 9, 2016. REUTERS/David W Cerny/File PhotoPRAGUE, Aug 7 (Reuters) - Czech electricity producer CEZ (CEZP.PR) plans to bid for the country's gas distribution network GasNet if it goes on sale, CEZ's deputy chairman said, as it would complement CEZ's expansion into gas, a transitional fuel in the shift from coal to clean energy. Pavel Cyrani told Reuters that CEZ would bid when a formal sale process is launched for GasNet, adding the unit would also be a good fit for CEZ's electricity distribution business. GasNet, owned through Czech Gas Network Investments by a consortium led by Macquarie Asset Management and including British Columbia Investment Management Corporation and Allianz Capital, covers 80% of the country's gas distribution through a network of 65,000 km of gas pipelines. "Having gas distribution in the hands of a strong local player would clearly help us in this effort," a spokesman said.

Persons: David W Cerny, Pavel Cyrani, Cyrani, Macquarie, GasNet, Jan Lopatka, Jason Hovet, Susan Fenton, Louise Heavens Organizations: REUTERS, Reuters, Czech Gas Network Investments, Macquarie Asset Management, Columbia Investment Management Corporation, Allianz Capital, Thomson Locations: Ledvice, Czech Republic, Czech, Prague, Ukraine

☆ Tyson Foods to shut four more US chicken plants
▼ + stars: | 2023-08-07 | by ( Tom Polansek | ) www.reuters.com time to read: +1 min

REUTERS/Adam Shrimplin/File PhotoCHICAGO, Aug 7 (Reuters) - Tyson Foods (TSN.N) said on Monday it is closing four more U.S. chicken plants in its latest effort to cut costs. Tyson said it would move the work performed in the plants to newer facilities that are closer to its customers, but declined to say how many employees were affected. Tyson in May closed two other chicken plants with almost 1,700 employees. In April, Tyson said it would eliminate about 10% of corporate jobs and 15% of senior leadership roles. The company also laid off corporate employees in Chicago and South Dakota who declined to relocate to Tyson's headquarters in Arkansas.

Persons: Adam Shrimplin, Tyson, John R, Tom Polansek, Louise Heavens Organizations: REUTERS, Tyson Foods, Thomson Locations: Finney, Holcomb , Kansas, U.S, North Little Rock , Arkansas, Corydon , Indiana, Dexter , Missouri, Noel , Missouri, Chicago, South Dakota, Arkansas

☆ Factbox: Patrick Drahi, the telco tycoon facing debt woes, arrest of aide
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +3 min

* Drahi, who lives between Switzerland, the United States and Israel, controls France's second-biggest telecoms firm SFR on top of the most-watched news channel in the country, BFM TV. He also owns the largest telecoms firm in Portugal. * To ease investor concerns about the sustainability of the business, Drahi spun off the U.S. division, restructured debt and took the European arm private. * By 2023, Altice's combined debt, including its three units of Altice France, Altice International and Altice USA stood at around $60 billion. Altice's debt prices trade at stressed levels, having come under further pressure since Pereira's detention in July.

Persons: Patrick Drahi, Violeta Santos Moura, Altice, Drahi, Altice's, Armando Pereira, Pereira, Silvia Aloisi, Ingrid Melander, Sharon Singleton, Louise Heavens Organizations: French, REUTERS, Polytechnique, SFR, U.S ., Altice, Altice USA, BT, Thomson Locations: Paris, France, French, Israeli, Morocco, Drahi, Amsterdam, Belgium, Portugal, Israel, United States, Dominican Republic, Switzerland, London, New York

REUTERS/Wolfgang Rattay/File PhotoFRANKFURT, Aug 7 (Reuters) - Germany's BioNTech (22UAy.DE), Pfizer's (PFE.N) partner on COVID-19 vaccines, cut its drug development budget for this year after quarterly revenues were hurt by a plunge in pandemic-related demand. The quarterly net loss was 190 million euros, down from a COVID-19-fuelled profit of 1.67 billion euros a year earlier. The company said it cut its projected research and development (R&D) budget for this year to between 2 and 2.2 billion euros, down from between 2.4 and 2.6 billion euros previously forecast. R&D expenditures were 1.54 billion euros last year. BioNTech reaffirmed its outlook for COVID-19 vaccine revenues to reach about 5 billion euros in 2023, down from 17.2 billion euros last year, expecting a renewed sales boost from an inoculation campaign in the fall.

Persons: Wolfgang Rattay, Jens Holstein, BioNTech, Ludwig Burger, Miranda Murray, Friederike Heine, Louise Heavens Organizations: REUTERS, Pfizer, Thomson Locations: Mainz, Germany

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data for June additions was revised lower to 185,000 jobs, from 209,000 reported previously. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. The yield on the 10-year benchmark Treasury note dipped after the jobs data, partly boosting some megacap stocks. Buoying the S&P 500 index, Amazon.com shares (AMZN.O) rose after the company issued an upbeat third-quarter outlook.

Persons: Brendan McDermid, Greg Bassuk, jitters, Said, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Apple, Nasdaq, Treasury, AXS Investments, Labor Department, Reuters, Microsoft, Dow Jones, Thomson Locations: New York City, U.S, Ukraine, China, New York, Bengaluru

Pope Francis gestures on the day he meets with aid and charity representatives at "Centro Paroquial de Serafina" during his apostolic journey to Portugal on the occasion of the XXXVII World Youth Day, in Lisbon, Portugal, August 4, 2023. REUTERS/Violeta Santos MouraLISBON, Aug 4 (Reuters) - Pope Francis visited a Church-run social centre in a low-income Lisbon neighbourhood Friday, urging young people to shun "distilled," orderly lives where everything seems perfect but to "get your hands dirty" by helping the needy. "Tangible love is that which gets its hands dirty," he said. The 86-year-old pope is in Lisbon for the Catholic Church's World Day of Youth festival, which ends on Sunday. "Through your actions, your commitment, by getting your hands dirty, by touching the reality and misery of others, you are creating inspiration, you are generating life," he said.

Persons: Pope Francis, Violeta Santos Moura, Vincent de Paul, Francis, Amelia Grantham, Grantham, Philip Pullella, Louise Heavens Organizations: Centro, REUTERS, Violeta Santos Moura LISBON, Catholic, Thomson Locations: Portugal, Lisbon, Serafina, Spain, Italy, Guatemala, Birmingham, England

☆ Sweden's Ericsson sued by some shareholders for $170 million, Dagens Industri reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File PhotoOSLO, Aug 4 (Reuters) - Some 37 Ericsson (ERICb.ST) shareholders are suing the Swedish telecoms company for a total of 1.8 billion crowns ($170 million), business daily Dagens Industri reported on Friday. The shareholders, which include several investment firms and pension funds, have filed separate lawsuits with a Swedish court but their actions are coordinated, the paper reported. According to Dagens Industri, the shareholders are demanding compensation for the 33% fall in value in Ericsson shares between Feb. 16, 2022, and March 2. On Feb. 15, 2022, Ericsson CEO Boerje Ekholm had talked to Dagens Industri about an internal, and until then, secret report about the company's activities in Iraq, the paper said in a published interview.

Persons: Lars Hagberg, Dagens Industri, Boerje Ekholm, Dagens, Gwladys Fouche, Louise Heavens Organizations: Ericsson, REUTERS, Dagens, Marie Mannes, Thomson Locations: Kanata , Ontario, Canada, OSLO, Swedish, Iraq, Oslo, Stockholm

☆ Serb victims commemorated in Bosnia town infamous for killings of non-Serbs
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

A building is seen at the former Trnopolje detention camp near Prijedor, Bosnia and Herzegovina November 13, 2017. REUTERS/Dado Ruvic/File PhotoAug 4 (Reuters) - Serbia and Bosnia's Serb Republic on Friday marked the 1995 exodus of Serbs from Croatia in a Bosnian town notorious for Serb war crimes during the Bosnian war, triggering outcry from survivors and human rights activists. "This is an ugly political message," said Gordana Katana, a journalist and activist from the Serb Republic's city of Banja Luka. Many Bosniak survivors feel hurt that victims from another state are commemorated in the town in which Bosniak victims have been ignored. Local Serb authorities have for years rejected pleas to raise a monument to the 102 children killed in Prijedor.

Persons: Dado, Gordana Katana, Satko Mujagic, Milorad Dodik, Aleksandar Vucic, Dodik, Daria Sito, Louise Heavens Organizations: REUTERS, Bosnia's, Croatian, Local, Serbian, Thomson Locations: Prijedor, Bosnia, Herzegovina, Serbia, Bosnia's Serb Republic, Croatia, Bosnian, Republic's, Banja Luka, Yugoslav, Slovenia, Belgrade, Croatian, Serb Republic

☆ Analysis: While AI takes the spotlight, infrastructure stocks shine
▼ + stars: | 2023-08-04 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Nvidia (NVDA.O) shares have surged almost 205% year to date, while Meta Platforms (META.O) has surged about 160% as investors anticipate the potential AI may unlock. That spending has led investors to search for stocks that will reap the benefits of the boost in spending in construction and engineering. "You have to look harder at these companies about what their end market really is, even though they're in a sector." Reporting by Chuck Mikolajczak; additional reporting by Lance Tupper, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kim Forrest, Morgan Stanley, hasn’t, Bryant VanCronkhite, VanCronkhite, Owens Corning, Forrest, Chuck Mikolajczak, Lance Tupper, Louise Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, Meta, Bokeh Capital Partners, Infrastructure Investment, Jobs, Allspring Global Investments, Reuters, Vulcan, Thomson Locations: New York City, U.S, Pittsburgh, Menomonee Falls , Wisconsin

[1/7] Pope Francis attends the "Stations of the Cross" procession with young people at Parque Eduardo VII during his apostolic journey to Portugal on the occasion of the XXXVII World Youth Day, in Lisbon Portugal, August 4, 2023. Vatican Media/Handout via REUTERSLISBON, Aug 4 (Reuters) - Hundreds of thousands of young people reflected on their anxieties, enslavement to the "tyranny" of social media and yearning to save the planet at a huge outdoor rally with Pope Francis on Friday. SCAFFOLD DANCINGPeople performed modern dance routines that included dangling from scaffolding above the pope as they moved a large cross around a structure that resembled a construction site. When the meditation about climate change was read, they donned gas masks as white smoke simulating air pollution engulfed the scaffolding. Francis started Friday by hearing the confessions of three young Catholics, from Spain, Italy and Guatemala, in one of the parks hosting the festival.

Persons: Pope Francis, Parque Eduardo VII, Edward VII, Jesus, Francis said, Francis, Philip Pullella, Louise Heavens, Leslie Adler Organizations: Parque, Vatican, Handout, REUTERS, Catholic, Thomson Locations: Portugal, Lisbon Portugal, REUTERS LISBON, Via, Catholic Woodstock, Lisbon, Spain, Italy, Guatemala

☆ US lawmakers back closer coordination with Pacific islands to counter China
▼ + stars: | 2023-08-04 | by ( David Brunnstrom | ) www.reuters.com time to read: +3 min

The sparsely populated nations, whose territories cover vast areas of the Pacific, have relations with the United States governed by so-called Compacts of Free Association. "The strategic location of these islands is integral to our national security, but the lack of direct security channels between our nations creates risk," she added. An Ernst aide said Palau had already established a national security council and the other COFA states were actively considering doing so. He noted that the U.S. has significant military installations on the islands, including high-powered radar on Palau and its main long-range missile testing site in the Marshall Islands. The councils would comprise members of respective COFA states and make use of Pentagon-approved communications equipment to prevent Chinese espionage and allow sharing of intelligence, he said.

Persons: reconvenes, Leah Millis, Joni Ernst, Beijing's, Democrats Mazie Hirono, Tim Kaine, Chris Van Hollen, Ernst, Palau, Joni Ernst's, David Brunnstrom, Louise Heavens Organizations: U.S . Capitol, Republican, REUTERS, Defense, Marshall, Free Association, U.S, Reuters, Democrats, Pentagon, Thomson Locations: Washington , U.S, China, Palau, Marshall Islands, Micronesia, United States, Washington, Marshall, Pacific, U.S, Solomon Islands

Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023. REUTERS/Toby Melville/File PhotoDUBAI, Aug 2 (Reuters) - UAE's e& (EAND.AD) has submitted an offer to increase its stake in Vodafone (VOD.L) by 20%, e&'s CEO Hatem Dowidar told CNBC Arabia on Wednesday. The company formerly known as Etisalat, e& has been gradually building up its stake in the British telecoms company ever since it took a 9.8% stake for $4.4 billion in May 2022. The UAE operator's cooperation with Vodafone is awaiting regulatory approvals in countries where the British company operates, which "include an agreement to regulate relations between the two companies, and also the possibility of increasing our stake to 20%," Dowidar said. Reporting by Jana Choukeir, Writing by Clauda Tanios, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Hatem Dowidar, Dowidar, Jana Choukeir, Clauda Tanios, Louise Heavens Organizations: Vodafone, REUTERS, CNBC Arabia, Etisalat, SEC, British, Thomson Locations: London, Britain, DUBAI, British, UAE

☆ Kenya suspends crypto project Worldcoin over safety concerns
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Stickers handed out to people who signed up for WorldCoin are seen at a sign-up site in Shoreditch, East London, Britain July 24, 2023. REUTERS/Elizabeth Howcroft/File PhotoNAIROBI, Aug 2 (Reuters) - Kenya's interior ministry said on Wednesday that it had suspended the local activities of cryptocurrency project Worldcoin while government agencies assess potential risks to public safety. "Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities," interior minister Kithure Kindiki said in a statement. Kindiki said the government was concerned with Worldcoin's activities, and agencies would probe how it intends to use the data it gathers. The project has also come under scrutiny in Britain, Germany and France.

Persons: Elizabeth Howcroft, Sam Altman, Kithure Kindiki, Worldcoin, Kindiki, Humphrey Malalo, Bhargav Acharya, Alexander Winning, Louise Heavens Organizations: REUTERS, Kenyan, Thomson Locations: Shoreditch, East London, Britain, NAIROBI, Kenya, Germany, Spain, France

☆ Poland's mBank hopes to offer 2% mortgage loan in September
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

Commerzbank's Polish unit mBank's logo is seen in Warsaw, Poland, May 31, 2023. REUTERS/Kacper Pempel/File PhotoGDANSK, Aug 2 (Reuters) - Poland's mBank (MBK.WA) expects a drop in write-offs in future quarters from those in the second quarter, its chief executive said on Wednesday. CEO Cezary Stypulkowski also said the bank hopes to offer 2% mortgage loans in September, a special product with state subsidised instalments. We hope that in September we will be able operationally to offer the loan," said Stypulkowski. He added that for the bank's customers, this is an important product to offer.

Persons: Kacper, Cezary Stypulkowski, homebuyers, Anna Banacka, Louise Heavens, Jason Neely Organizations: REUTERS, Thomson Locations: Warsaw, Poland, GDANSK

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