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LONDON, Aug 1 (Reuters) - Tanqueray gin maker Diageo (DGE.L) narrowly beat full-year earnings estimates on Tuesday as sales of its more expensive liquor brands offset lower volumes. Diageo's most expensive brands accounted for 57% of its overall organic net sales growth, it said. Diageo said full-year sales were driven by a strong first half. Diageo said its organic net sales increase reflected gains of 7.3 percentage points from higher prices and a more premium mix while organic sales volumes fell 0.8%. Diageo's organic operating profit rose 7%, beating the 6.3% expected by analysts.

Persons: Bourbon, Don Julio, lockdowns, Johnnie Walker, Morgan's, Tineke Frikkee, Debra Crew, Ivan Menezes, Diageo, Richa Naidu, Louise Heavens, Jason Neely Organizations: Diageo, Waverton Investment Management, Thomson

☆ Nomura's crypto arm wins Dubai licence
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 1 (Reuters) - The crypto arm of Japanese investment bank and brokerage Nomura (8604.T) said on Tuesday it had won an operating licence in Dubai, the latest in a number of mainstream financial institutions this year to enter the crypto sector. Laser Digital, which is headquartered in Switzerland with officers in Dubai and London, said in a statement it had received the licence from Dubai's Virtual Asset Regulatory Authority, allowing it to offer crypto-related broker-dealer, management and investment services. Laser said it would launch its trading and asset management business in the coming months, allowing institutional investors access to over-the-counter crypto trading and other investment products. French bank Societe Generale (SOGN.PA) became last month the first company in France to obtain a licence for crypto services, underscoring resilient hunger among mainstream banks to embrace crypto as markets have rallied through 2023. Reporting by Tom Wilson, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Nomura, Tom Wilson, Louise Heavens Organizations: Laser, Regulatory, Societe Generale, Thomson Locations: Dubai, Switzerland, London, France

More actively traded October Brent crude futures rose $1.02, or 1.2%, to settle at $85.43 a barrel. The September Brent contract, which expired at settlement on Monday, rose 0.7% to close at $85.56 a barrel. U.S. West Texas Intermediate crude futures rallied $1.22, or 1.5%, to $81.80 a barrel. Reuters GraphicsPump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick OxfordSaudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day (bpd) for another month to include September.

Persons: Goldman Sachs, Brent, WTI, Nick Oxford, Edward Moya, Phil Flynn, Shariq Khan, Natalie Grover, Florence, Mohi Narayan, Christina Fincher, Louise Heavens, David Evans, Nick Macfie, Paul Simao Organizations: Saudi, . West Texas, Midland , Texas U.S, REUTERS, Organization of Petroleum, Reuters, Strategic Petroleum Reserve, Futures, Thomson Locations: Riyadh, OPEC, Goldman Sachs BENGALURU, Midland , Texas, Nick Oxford Saudi Arabia, Saudi, U.S, India, Bengaluru, London, Florence Tan, Singapore, New Delhi

☆ UAE oil giant raises climate goal ahead of key UN summit
▼ + stars: | 2023-07-31 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

The United Arab Emirates supplies nearly 3% of global oil, which is a major source of greenhouse gases. ADNOC said its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, which is among the lowest in the world. On Monday, it said it aimed to cut carbon intensity by 25% by 2030. Intensity-based targets measure the amount of GHG emissions per unit of energy or barrel of oil and gas produced. It said on Monday its 2022 methane intensity was about 0.07% and its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, its first such disclosures.

Persons: Sultan, Jaber, ADNOC, Yousef Saba, Hadeel Al Sayegh, Ron Bousso, Nadine Awadalla, Louise Heavens, Alexander Smith Organizations: Abu Dhabi National Oil Company, United Arab Emirates, Dubai, United, Saudi Aramco, U.S, Exxon, Aramco, Thomson Locations: DUBAI, Abu Dhabi, UAE, United Nations, Saudi

☆ Bank of Ireland raises full-year forecasts
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, July 31 (Reuters) - Bank of Ireland (BIRG.I) raised its full-year guidance on Monday and expects net interest income in the second half of the year to be marginally higher than the first when a 68% year-on-year jump drove a more than doubling in profits. The bank reported a 1.2 billion euro ($1.1 billion) first-half underlying profit before tax versus 435 million euros a year ago when it was still operating in a negative interest rate environment. The European Central Bank has since lifted borrowing costs by a combined 425 basis points. Ireland's largest lender by assets said its business income for the rest of the year is expected to be broadly in-line with the first half, when it rose 23% and that its full year return on tangible equity (ROTE) would be similar to the 18.5% posted in the first half. ($1 = 0.9083 euros)Reporting by Padraic Halpin, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Padraic Halpin, Louise Heavens Organizations: DUBLIN, Bank of Ireland, European Central Bank, Thomson

☆ French parking lot operator Indigo buys Spanish rival Parkia
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

MADRID, July 31 (Reuters) - French car parking lot operator Indigo has agreed to buy Spanish rival, Parkia, for between 600 million euros ($660.96 million) and 650 million euros, a company spokesperson said on Monday. Spanish newspaper Expansion earlier on Monday reported Indigo would pay 700 million euros. Parkia, which operates about 70 parking lots in Spain and Andorra, is currently owned by Australian-based fund Igneos Infrastructure. Indigo, one of the world's largest parking lot operators, is 49.04% owned by French bank Credit Agricole (CAGR.PA). ($1 = 0.9078 euros)Reporting by Inti Landauro; editing by Louise Heavens, Jason Neely and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Indigo, Igneos, Inti Landauro, Louise Heavens, Jason Neely, Sharon Singleton Organizations: Igneos, Credit, Investment, Vauban Infrastructure, Infrastructure, Thomson Locations: MADRID, Spain, Andorra, Australian

LONDON, July 31 (Reuters) - A German data watchdog has been investigating OpenAI CEO Sam Altman's Worldcoin project since late last year due to concerns over its large-scale processing of sensitive biometric data, the regulator's president told Reuters. Will said the Bavarian state regulator is the lead authority investigating Worldcoin under the European Union's data protection rules because Tools For Humanity, the company behind Worldcoin, has a German subsidiary there. This leads to a number of risks, including whether users have given explicit consent to their highly-sensitive biometric data being processed on the basis of "sufficient and clear" information, Will said. Privacy campaigners have long raised concerns about the wide-scale collection and storage of biometric data, which could increase surveillance or target certain demographic groups. France's privacy watchdog told Reuters on Friday that the legality of Worldcoin's data collection "seems questionable".

Persons: Sam Altman's Worldcoin, Worldcoin, Michael Will, Will, Elizabeth Howcroft, Louise Heavens Organizations: Reuters, Bavarian State Office, Data Protection, Humanity, Worldcoin, Thomson Locations: Bavarian, German, Cayman Islands, France, Germany, Spain

☆ African Union chair: Putin's grain offer not enough, Ukraine ceasefire needed
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

July 28 (Reuters) - The chair of the African Union, Azali Assoumani, said on Friday that proposals by Russian President Vladimir Putin to provide grain to Africa were not sufficient, and that a ceasefire in Ukraine was needed. Putin had told the African leaders that Russia was ready to supply Africa with grain, some of it for free, after refusing last week to extend the Black Sea grain initiative, which had permitted Ukraine to export grain safely from its seaports despite the war. That, and Russia's subsequent bombing of Ukrainian grain export facilities and stores, has sent the global price of grain soaring. "The President of Russia demonstrated that he is ready help us in the field of grain supply," Assoumani said. "President Putin has shown us that he is ready to engage in dialogue and find a solution," he added.

Persons: Azali Assoumani, Vladimir Putin, Putin, Assoumani, Volodymyr Zelenskiy, Kevin Liffey, Louise Heavens, Kirsten Donovan Organizations: African Union, Reuters, Thomson Locations: Russian, Africa, Ukraine, Russia, St Petersburg, Kyiv

LONDON, July 28 (Reuters) - France's privacy watchdog CNIL said on Friday it is aware of ChatGPT-founder Sam Altman's Worldcoin project and that the legality of its biometric data collection "seems questionable". CNIL, the French watchdog, said in response to a Reuters question on Worldcoin "The legality of this collection seems questionable, as do the conditions for storing biometric data." The Worldcoin Foundation is a Cayman Islands-based entity which describes itself as a "steward of the Worldcoin protocol". "The Worldcoin Foundation complies with all laws and regulations governing the processing of personal data in the markets where Worldcoin is available," it said. The project is supervised in the European Union by the Bavarian State Office for Data Protection Supervision, the Worldcoin Foundation said.

Persons: CNIL, Sam Altman's, Worldcoin, Elizabeth Howcroft, Amanda Cooper, Jane Merriman, Louise Heavens Organizations: Reuters, Bavarian, Worldcoin, European Union, Office, Data Protection, Thomson Locations: Bavarian, Germany, Cayman Islands, European

☆ Vietnam EV maker VinFast plans US listing in August after regulator nod
▼ + stars: | 2023-07-28 | by ( Phuong Nguyen | ) www.reuters.com time to read: +2 min

The EV maker had filed for an initial public offering in the U.S. to list on the Nasdaq in December last year, but in May it announced plans to list through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, subject to shareholder approvals and other customary closing conditions, they said in a joint statement on Friday. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast on August 10, the joint statement said. The new merged entity was estimated by VinFast and Black Spade to have a potential equity value of $23 billion, according to their statement.

Persons: Black Spade, Dennis Tam, VinFast's, Nikola Corp, VinFast, Phuong Nguyen, Louise Heavens, Jane Merriman Organizations: Securities and Exchange Commission, Nasdaq, Spade, SEC, Faraday, Nikola, VinFast, Thomson Locations: HANOI, United States, U.S, North Carolina

☆ Vietnam EV maker VinFast to list in the U.S. in August after regulator nod
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

HANOI, July 28 (Reuters) - Vietnamese electric vehicle maker VinFast said on Friday it is planning to list in the United States next month via a blank-cheque company after the Securities and Exchange Commission (SEC) gave the go ahead to its proposed business combination. VinFast, a unit of Vietnam's biggest conglomerate Vingroup (VIC.HM), announced in May it would go public through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, they said in a joint statement. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast, the joint statement said.

Persons: VinFast, Black Spade, Dennis Tam, Phuong Nguyen, Louise Heavens Organizations: Securities and Exchange Commission, SEC, Spade, Thomson Locations: HANOI, United States

☆ Privacy group challenges Ryanair's use of facial recognition
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, July 27 (Reuters) - Digital rights group NOYB on Thursday filed a complaint against Ryanair (RYA.I), alleging that it is violating customers' rights to data protection by using facial recognition to verify their identity when booking through online travel agents. NOYB, led by Austrian privacy activist Max Schrems, filed the complaint with Spain's data protection agency on behalf of a complainant who booked a Ryanair flight through the Spanish-based online travel agency eDreams ODIGEO. The low-cost carrier said the steps are required to manage the passenger's booking, online check-in and to comply with safety and security requirements. NOYB has successfully launched privacy challenges against some of the world's largest multinational companies across the European Union under the bloc's General Data Protection Regulation (GDPR), introduced in 2018. NOYB alleged that Ryanair's verification procedures are not valid under the GDPR because it does not provide comprehensible information about the purpose of the "intrusive process."

Persons: NOYB, Max Schrems, eDreams ODIGEO, Padraic Halpin, Louise Heavens Organizations: DUBLIN, Ryanair, Irish, European Union, Data Protection, Thomson Locations: Austrian, Spanish

GDANSK, July 26 (Reuters) - Poland's biggest video games producer CD Projekt (CDR.WA) said on Wednesday it plans to lay off about 9% of personnel in its CD Projekt RED development studio, maker of Cyberpunk 2077 and "The Witcher" saga. Around 100 people will leave the company in a reduction process that is planned to conclude in the first quarter of next year. Phantom Liberty is the first and only expansion to company's Cyberpunk 2077 which is due to premier in late September. The news of redundancies within Poland's most well-known game studio came after two companies from the country's gaming sector, Ten Square Games and Huuuuge, announced they too would cut jobs. ($1 = 3.9973 zlotys)Reporting by Mateusz Rabiega; editing by Louise Heavens, Jason Neely and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Adam Kicinski, J.P, Morgan, Mateusz, Louise Heavens, Jason Neely, Conor Humphries Organizations: Liberty, Ten, Huuuuge, Thomson Locations: GDANSK

GE's aerospace unit, which makes engines for jets of Boeing Co (BA.N) and Airbus (AIR.PA), posted double-digit growth in orders, revenue, and operating profit from a year earlier. Its services revenue was up 31% in the second quarter from a year ago. The Boston-based company now expects 2023 adjusted profit per share of $2.10 to $2.30, compared with its previous forecast of $1.70 to $2.00. Free cash flow for the year is estimated to be in a range of $4.1 billion to $4.6 billion, up from $3.6 billion to $4.2 billion expected previously. GE said operating profit at its aerospace business was now expected to be in a range of $5.6 billion to $5.9 billion this year, up from $5.3 billion to $5.7 billion estimated earlier.

Persons: Larry Culp, France's Safran, Culp, Rajesh Kumar Singh, Kirsten Donovan, Mark Potter, Louise Heavens Organizations: General Electric Co, Boeing Co, Airbus, Boeing, GE, Thomson Locations: Boston, Chicago, Bengaluru

DWS said the resolution of allegations was a top priority but that it couldn't comment on timeframes or outcomes. Under Democratic leadership, the SEC has pledged to crack down on "greenwashing" and the inflating of ESG credentials to attract investors. DWS had earmarked civil litigation provisions of 8 million euros ($8.84 million) by the end of last year. DWS has been in settlement negotiations with Frankfurt prosecutors over a multi-million euro fine, one of the people said. Earlier in July, Reuters and other media reported that German prosecutors were investigating DWS' former CEO Asoka Woehrmann, who in the past has called allegations "unfounded".

Persons: DWS, Goldman Sachs, Asoka Woehrmann, Chris Prentice, Tom Sims, John O'Donnell, Louise Heavens, Susan Fenton Organizations: U.S . Securities, Exchange Commission, U.S, Deutsche Bank, Securities, SEC, Investigations, Democratic, Frankfurt, Reuters, Thomson Locations: FRANKFURT, Germany

The number of monthly active users rose to 551 million in the second quarter, beating Spotify's guidance and analysts' forecast of 526.8 million. Premium subscribers, who account for most of the company's revenue, rose 17% to 220 million, topping estimates of 216.6 million, according to IBES data from Refinitiv. However, quarterly revenue was 3.18 billion euros ($3.51 billion), below analysts' estimate of 3.21 billion euros. REUTERS/Brendan McDermid/File Photo"If we have user growth, the revenue growth eventually comes - that's the lesson been learned at Spotify and we have seen it over and over," Ek said. Spotify expects premium subscribers to reach 224 million this quarter and revenue of 3.3 billion euros.

Persons: Daniel Ek, Brendan McDermid, Ek, Paul Vogel, Supantha Mukherjee, Louise Heavens, Mark Potter Organizations: Spotify, New York Stock Exchange, REUTERS, Thomson Locations: STOCKHOLM, New York, U.S, Stockholm

"We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the Information Commissioner's Office told Reuters. Worldcoin launched on Monday with two million users from its trial, with the crypto project scaling up eyeball-scanning operations in 20 countries, including at sites in London. Described on its website as a "new identity and financial network", the Worldcoin project assigns people who sign up a digital ID which it says would distinguish humans from artificial intelligence online. Its cryptocurrency, called the Worldcoin token, will be allocated to users who sign up in some countries, according to the website. The Worldcoin token initially rose after its launch on Monday, hitting a peak of $3.30, and on Tuesday was at $2.01 according to market tracker CoinGecko.

Persons: Sam Altman, Worldcoin, Elizabeth Howcroft, Tom wilson, Louise Heavens Organizations: Commissioner's, Reuters, Thomson Locations: London

☆ UN starts removing oil from decaying tanker near Yemen in Red Sea
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

U.N. officials have been warning for years that the Red Sea and Yemen's coastline was at risk as the Safer tanker could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska. "The ship-to-ship transfer of oil which has started today is the critical next step in avoiding an environmental and humanitarian catastrophe on a colossal scale." The oil transfer is expected to take 19 days to complete, the United Nations' Development Programme (UNDP) said in a statement. "We are obviously very cautious – it's only the beginning of a transfer," UNDP spokesperson Sarah Bel told a Geneva press briefing when asked about the operation's risks. "The cost of an oil spill is estimated to be approximately $20 billion, and it will take years to clean up," she added.

Persons: Antonio Guterres, Sarah Bel, Nadine Awadalla, Nayera Abdallah, Emma Farge, Clauda Tanios, Louise Heavens, Jan Harvey Organizations: United Nations, Programme, UNDP, Thomson Locations: DUBAI, GENEVA, Alaska, Yemen, Geneva, Dubai

GM said adjusted pre-tax profit and margins in its key North American market fell from the first quarter, despite a jump in revenue and per-vehicle transaction prices. GM said it now expects full-year net income of $9.3 billion to $10.7 billion, up from a previous forecast of $8.4 billion to $9.9 billion. GM's pre-tax profit margin for the first six months of the year fell to 8.3% of revenue, down from 8.9% a year ago. Barra said GM can cut capital spending by simplifying its product line, reducing the number of different combinations of colors and features offered. In the first half, GM built about 50,000 EVs, most of them the older Bolt model, which is priced from $27,495.

Persons: Mary Barra, Chevrolet Bolt, Sam Fiorani, Barra, Paul Jacobson, GM's, Jacobson, Tesla, Elon Musk's, We're, Garrett Nelson, Joseph White, Paul Lienert, Ben Klayman, Matthew Lewis, Louise Heavens, Nick Zieminski Organizations: DETROIT, General Motors, GM, Chevrolet, AutoForecast Solutions, LG Electronics, LG Energy, United Auto Workers, Thomson Locations: Lordstown , Ohio, North America, Barra, Detroit

NatWest has faced intense political and media scrutiny over a decision by its private bank Coutts to close Farage's accounts. In a post on the X social media platform on Wednesday, Farage called for further heads to roll in the wake of Rose's resignation. On Tuesday, Farage said on his eponymous TV show that Rose was "unfit" to run a bank. She realised that her comments had left Jack with the impression that the decision to close Farage's accounts was solely a commercial one, Rose said in the statement. Rose also said she was not part of the decision-making process to "exit" Farage's accounts and said this was a decision made by Coutts.

Persons: Alison Rose, Nigel Farage's, Paul Thwaite, Coutts, Farage, Rose, Simon Jack, Howard Davies, Davies, Peter Flavel, Jack, NatWest's, Sheldon Mills, Andrew Griffith, Iain Withers, Sinead Cruise, Urvi, Juby Babu, Simon Jessop, Mark Potter, Edwina Gibbs, Louise Heavens Organizations: NatWest, BBC, BBC Business, UK Treasury, Reuters, Government Investments, Authority, Thomson Locations: Bengaluru

GM's higher profit outlook also reflects decisions to ratchet down spending. The automaker said it also will expand a previously announced drive to cut operating costs by $2 billion through the end of 2024. GM will now target an additional $1 billion in overhead, marketing and other costs, Jacobson said. GM's decisions to cut new product investment and operating costs come as the automaker's profit margins are under pressure. GM's pretax profit rose from a year earlier to 7.2% of revenue in the second quarter.

Persons: Paul Jacobson, Jacobson, Tesla, Elon Musk's, We're, GM's, Joseph White, Ben Klayman, Matthew Lewis, Louise Heavens Organizations: DETROIT, General Motors, GM, Detroit, United Auto Workers, LG Energy, Chevrolet Bolt, Thomson Locations: North America, Korean, China, Detroit

☆ Oil prices rise as tight supply counters expected rate hikes
▼ + stars: | 2023-07-24 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

LONDON, July 24 (Reuters) - Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from U.S. and European central banks. Brent crude futures rose 44 cents, or 0.6%, to $81.51 a barrel by 11 GMT. The benchmarks rose 1.5% and 2.2% respectively last week, their fourth straight of week of gains, as supply is expected to tighten following OPEC+ cuts. Fighting also escalated last week in Ukraine after Russia withdrew from a U.N.-brokered safe sea corridor agreement for grain exports. Market participants expect Beijing to implement targeted stimulus measures to support its flagging economy, likely boosting oil demand in the world's No.

Persons: Brent, Jerome Powell, Christine Lagarde, Florence Tan, Emily Chow, Tom Hogue, Sharon Singleton, Louise Heavens Organizations: . West Texas, Citi Research, National Australian Bank, Federal Reserve, European Central Bank, Thomson Locations: Ukraine, Russia, China, Beijing

☆ Microsoft-Activision deal back in hands of UK regulator after court pauses appeal
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Microsoft's Activision Blizzard deal is back in the hands of Britain's antitrust regulator after an appeals court granted an adjournment, and the grounds for why the UK should reconsider its block on the U.S. software giant's takeover were published. The Competition and Markets Authority (CMA) set out on Friday Microsoft's arguments for the reconsideration, as the U.S. battles to win UK approval to buy "Call of Duty" maker Activision. Explaining why the deal should now be given the green light, Microsoft argued that the binding commitments accepted by the European Union shortly after Britain had blocked the deal changed matters, court documents published showed. The CMA said it understood that Microsoft considered the recent licensing deal it agreed with Sony constituted a further material change of circumstance or special reason. Britain's Competition Appeal Tribunal provisionally approved the adjournment on Monday subject to further submissions from the parties.

Persons: Candy, Sarah Young, Paul Sandle, Sam Tobin, Alistair Smout, Louise Heavens Organizations: Microsoft's Activision, Markets Authority, Activision, CMA, Microsoft, European Union, NVIDIA, Boosteroid, Sony, Thomson Locations: U.S, European, Britain

☆ Accor is in talks for Potel & Chabot takeover
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: 1 min

July 21 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) announced on Friday it has entered exclusive negotiations with Andera Partners and partner investors to acquire a 63% stake in Potel & Chabot and become the sole shareholder of the company. The transaction is expected to be completed in autumn, Accor said in a statement. Following this transaction, Potel & Chabot will be consolidated within Accor's Luxury & Lifestyle Division, Accor added. Reporting by Dina Kartit, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Accor, Chabot, Dina Kartit, Louise Heavens Organizations: Andera Partners, Potel, Accor's, Thomson Locations: Potel

☆ Terra Firma Capital Partners founder Guy Hands steps down from company's helm
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - British financier Guy Hands has stepped down as CEO and chairman of private equity firm Terra Firma Capital Partners, according to a company statement sent to Reuters. Richard Hands and Paul Hatter will lead the company as managing director and chief operating officer, respectively. "Guy wants to change the focus of his life giving him more time to work on his and his wife Julia's philanthropic interests whilst continuing to be involved in the portfolio businesses that are Hands Family Investments, as well as in the legacy Terra Firma fund investment Annington, sitting on the boards that work with those investments," the statement read. Guy Hands founded Terra Firma in 2002 through the spin-out of Japanese bank Nomura's Principal Finance Group (PFG), which he used to lead. Reporting by Pablo Mayo Cerqueiro, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Guy Hands, Richard Hands, Paul Hatter, Guy, Pablo Mayo Cerqueiro, Louise Heavens Organizations: Terra Firma Capital Partners, Reuters, Investments, Terra Firma, Nomura's, Finance Group, Thomson Locations: British

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