DIRS.INFO The most relevant business & tech news

☆ Exclusive: Airbus A321XLR jet faces range gap after design safeguards -sources
▼ + stars: | 2023-07-21 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

PARIS, July 21 (Reuters) - Airbus (AIR.PA) is grappling with a growing shortfall in the range of its upcoming A321XLR passenger jet after reaching an agreement with European regulators on design safeguards needed to achieve certification, industry sources said. "Airbus expects no significant impact on the XLR’s unique range advantage in the single-aisle segment," an Airbus spokesperson said in response to a Reuters query. But the design raised concerns among regulators about the risk of fire and evacuation times in the event of an accident, prompting talks over design changes needed for certification. This would trim the maximum range, which Airbus officially pegs at 4,700 nautical miles (8,700 km). Airbus aims to certify the A321XLR by end-year and deliver the first aircraft in the second quarter of 2024.

Persons: Philippe Mhun, FlightGlobal, Tim Hepher, Rajesh Kumar Singh, Louise Heavens Organizations: Airbus, Le, European Union Aviation Safety Agency, Reuters, JetBlue, Thomson Locations: Boeing's, Le Bourget, Paris, New York, America, Europe

☆ Oil climbs, fuelled by tighter supplies, China stimulus
▼ + stars: | 2023-07-21 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up $1.02 at $80.66 a barrel by 1134 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1 to $76.65 a barrel. "Demand from China and India could therefore shift more towards other suppliers, which would push up oil prices," the analysts said. "That tightness in supply is already showing up in inventories," analysts from ANZ Bank said. "The announcement remains short on detail but notions of China buying more cars gives rise in hope for oil investor bulls," PVM analyst John Evans said.

Persons: Brent, John Evans, Natalie Grover, Arathy Somasekhar, Andrew Hayley, Louise Heavens, David Holmes Organizations: U.S, West Texas, Energy Information Administration, ANZ Bank, Thomson Locations: China, Russia, India, Saudi Arabia, U.S, London, Houston, Beijing

☆ Algeria applies to join BRICS, would contribute $1.5 billion to group bank
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

TUNIS, July 21 (Reuters) - Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying. It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities. The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa. "We officially applied to join the BRICS group, we sent a letter asking to be shareholder members in the bank ... Algeria's first contribution in the bank will be $1.5 billion," Ennahar quoted Tebboune as saying. China will invest $36 billion in Algeria across sectors including manufacturing, new technology, the knowledge economy, transport, and agriculture, local media quoted Tebboune as saying this week.

Persons: Abdelmadjid Tebboune, Tebboune, Algeria's, Ennahar, Tarek Amara, Louise Heavens, Alison Williams Organizations: BRICS Bank, United Arab, Democratic, Thomson Locations: TUNIS, Algeria, China, North Africa, Brazil, Russia, India, South Africa, South, Argentina, Iran, Saudi Arabia, United Arab Emirates, Cuba, Democratic Republic of Congo, Comoros, Gabon, Kazakhstan

☆ Dutch online marketplace OLX contributing to EU antitrust probe into Meta
▼ + stars: | 2023-07-21 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, July 21 (Reuters) - Dutch online marketplace OLX is helping EU antitrust enforcers in their investigation into Facebook owner Meta Platforms (META.O), the Naspers unit said on Friday. Meta, which contested the charges at a closed hearing held by the EU competition enforcer last week, has said the EU's case is without foundation. OLX said it took part in the hearing "to contribute to their (EU) investigation about Meta antitrust practices". OLX is owned by Dutch technology investor Prosus NV (PRX.AS), a subsidiary of South African technology investor Naspers (NPNJn.J). Norwegian media group Schibsted (SCHA.OL) also participated in the EU hearing.

Persons: OLX, Naspers, Foo Yun Chee, Louise Heavens Organizations: Facebook, Meta, European, Prosus NV, Thomson Locations: BRUSSELS, EU, Dutch, African, Norwegian

☆ Terra Firma founder Guy Hands steps down from company's helm
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

"When I founded Terra Firma over 20 years ago, I vowed that I would retire from the firm 'when I'm 64', as per the eponymous Beatles song. Terra Firma will be led by Guy's son and managing director Richard Hands and its chief operating officer Paul Hatter, the company said in a statement. 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. Terra Firma is now invested in 39 companies with an aggregate enterprise value of 51 billion euros ($56.7 billion), according to the company's website. Other business backed by Terra Firma include Australian cattle company CPC.

Persons: Guy Hands, Guy's, Richard Hands, Paul Hatter, Terra, Hands, Julia, Pablo Mayo Cerqueiro, Iain Withers, Louise Heavens, David Holmes Organizations: Terra Firma Capital Partners, EMI, Terra Firma, Reuters, Sky News, Nomura's, Finance Group, Citigroup, CPC, Thomson

☆ EasyJet's Portugal cabin staff start five-day strike, threaten more walkouts
▼ + stars: | 2023-07-21 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, July 21 (Reuters) - Almost 100% of EasyJet's (EZJ.L) cabin staff in Portugal walked out for five days on Friday and the union threatens with more strikes in the coming months if the company keeps rejecting the raises they demand. Penarroias did not rule out more strikes in the coming months if the talks with the company do not progress. "We will see with the union member whether the strike would happen in August, September, October or at the end of the year," he told Reuters. He said "his fellow French, German and Swiss cabin staff, who earn between 70% and 100% more than the Portuguese, only got better wages after going on strike several times". The Portuguese law protecting consumers forces cabin staff to assure 96 flights during the five days.

Persons: Ricardo Penarroias, Penarroias, Easyjet, Sergio Goncalves, Inti Landauro, Louise Heavens Organizations: Reuters, British, Thomson Locations: LISBON, Portugal, Swiss

☆ Algeria applies to join BRICS, would contribute $1.5 bln to group bank
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

TUNIS, July 21 (Reuters) - Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying. It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities. The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa. "We officially applied to join the BRICS group, we sent a letter asking to be shareholder members in the bank ... Algeria's first contribution in the bank will be $1.5 billion," Ennahar quoted Tebboune as saying. More than 40 countries have expressed interested in joining the BRICS group of nations, South Africa's top diplomat in charge of relations with the bloc said this week.

☆ UAE says current OPEC+ actions sufficient for now
▼ + stars: | 2023-07-21 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

GOA, India, July 21 (Reuters) - Current actions by OPEC+ to support the oil market are sufficient for now, UAE Energy Minister Suhail al-Mazrouei said on Friday, and the group is "only a phone call away" if any further steps are needed. "What we are doing is sufficient as we say today," the UAE minister told Reuters in Goa, India, where he is attending G20 energy ministerial meetings. The next OPEC+ policy meeting is not until November, although a panel of key ministers, the Joint Ministerial Monitoring Committee, holds an online meeting on Aug. 4 to review the market. The UAE minister said he was not worried about oil demand and described limited investment as the "biggest challenge." The UAE is among the few OPEC members with sizeable unused oil production capacity.

Persons: Suhail, Mazrouei, Nidhi Verma, Alex Lawler, Jason Neely, Louise Heavens, Conor Humphries, Paul Simao Organizations: UAE Energy, Organization of, Petroleum, Brent, Thomson Locations: GOA, India, OPEC, Russia, UAE, Goa, Saudi Arabia, China

☆ Gambia 'advanced' in exploring legal action over toxic Indian cough syrup
▼ + stars: | 2023-07-21 | by ( Pap Saine | ) www.reuters.com time to read: +2 min

[1/2] Logo of the Maiden Pharmaceuticals Ltd. company is seen on a board outside their office in New Delhi, India, October 6, 2022. REUTERS/Anushree Fadnavis/File PhotoCompanies Maiden Pharmaceutical Ltd FollowBANJUL, July 21 (Reuters) - Gambia's government is "far advanced" in exploring avenues for potential legal action against Indian drugmaker Maiden Pharmaceuticals and a local distributor over toxic cough syrups believed to have killed dozens of children, it said on Friday. The small West African country has hired a U.S. law firm to explore legal action, the justice minister previously told Reuters. The Indian drugmaker Maiden Pharmaceuticals has denied wrongdoing, and the Indian government says that tests it conducted on the drugs showed they were not contaminated. The World Health Organization said last year that the India-made cough syrups contained lethal toxins ethylene glycol and diethylene glycol – commonly used in car brake fluid and other products not fit for human consumption.

Persons: Anushree, syrups, Pap, Nellie Peyton, Louise Heavens, Matthew Lewis Organizations: Maiden Pharmaceuticals Ltd, REUTERS, Maiden Pharmaceutical, Indian, Pharmaceuticals, Medicines Control Agency, MCA, Reuters, Atlantic Pharmaceuticals, Government of, World Health Organization, World Bank, Thomson Locations: New Delhi, India, BANJUL, Gambia, Government of India, Banjul

TUA Assicurazioni, a non-life company founded in 2003, is valued at around 300 million euros ($335 million), according to the sources. Two sources mentioned German insurance heavyweight Allianz (ALVG.DE), fellow German insurer Talanx (TLXGn.DE) and France's Groupama as potential bidders. One of them also named Italy's Itas as one of up to five parties that could bid in the second round. Talanx has expressed interest in ICCREA's non-life business and is competing with Swiss Helvetia Group (HELN.S), Groupama and Italian cooperative insurer Assimoco. ($1 = 0.8946 euros)Additional reporting by Gianluca Semarero in Milan, writing by Keith Weir Editing by Keith Weir and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: TUA, TUA Assicurazioni, Italy's, ICCREA, Talanx, Rothschild, Mediobanca, Groupama, Gianluca Semarero, Keith Weir, Louise Heavens Organizations: Generali, Cattolica, Allianz, Swiss Helvetia Group, Itas, Thomson Locations: MILAN, Generali, Mediobanca, Talanx, Milan

GRUENHEIDE, Germany, July 18 (Reuters) - Tesla (TSLA.O) on Tuesday sought to assuage Brandenburg state residents' concerns by holding a question-and-answer session on the EV maker's planned expansion that would make its local plant the biggest car factory in the country. Tesla, which currently produces around 5,000 cars a week, hopes to double the plant's production capacity to 1 million vehicles a year and add 50 gigawatt hours of battery production capacity, though it has not provided a timeline. While Volkswagen still holds the highest EV market share in the region, Tesla is making its mark. Tesla has long argued that the plant's impact is relatively low and referred to the benefits of EVs in combating climate change. "Water isn't a Tesla problem - it's a general problem," said 68-year-old local resident Matthias Handschick.

Persons: Tesla, Emily, Matthias Handschick, Victoria Waldersee, Nette Noestlinger, Leon Malherbe, Christoph Steitz, Louise Heavens, Matthew Lewis Organizations: EV, Volkswagen, Reuters, Thomson Locations: GRUENHEIDE, Germany, Brandenburg, Wolfsburg, Europe, Gruenheide

July 18 (Reuters) - Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment. Morgan Stanley (MS.N) shares rose more than 6%, shrugging off the 14% drop in profits. Excluding one-off items, Morgan Stanley earned $1.24 a share on revenue of $13.46 billion, comfortably beating estimates of $1.15 a share on $13.08 billion revenue, according to data from Refinitiv IBES. Still, "we expect investment banking to lead the recovery in the next quarter," she said. The Wall Street giant followed rivals including JPMorgan Chase and Citigroup in reporting tepid trading results.

Persons: Morgan, Morgan Stanley, James Gorman, Brennan Hawken‎, Sharon Yeshaya, Morgan Stanley's, James Shanahan, Edward Jones, Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, Tatiana Bautzer, Mehnaz Yasmin, Niket, Lananh Nguyen, Arun Koyyur, Louise Heavens, Nick Zieminski Organizations: UBS, JPMorgan Chase, Citigroup, Bank of America, Reuters, Thomson Locations: New York, Bengaluru

☆ Tesla to hold citizen information session on expansion plans for German plant
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

BERLIN, July 18 (Reuters) - Tesla (TSLA.O) is due to hold a question-and-answer session on Tuesday for citizens in the German state of Brandenburg on the ramifications of a planned expansion of its EV and battery plant which would make the site the biggest car plant in the country. The event could help the U.S. carmaker prevent delays to securing the go-ahead from local authorities for the expansion plans similar to those it faced in preparing to open the plant, when numerous citizen objections put it behind schedule. Local environmental groups have expressed several concerns over the electric vehicle (EV) plant from the impact of tree-felling to its water usage. Tesla has long argued the plant's impact is relatively low and pointed to the benefits of EVs in combating climate change. While Volkswagen still holds the highest market share in EVs in the region, Tesla is making its mark.

Persons: Tesla, Victoria Waldersee, Christoph Steitz, Rachel More, Himani Sarkar, Louise Heavens Organizations: Volkswagen, Thomson Locations: BERLIN, German, Brandenburg, Germany, Wolfsburg, EVs, Europe

☆ Dutch e-bike maker VanMoof bankrupt, administrators may sell assets
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 18 (Reuters) - Dutch e-bike maker VanMoof has been declared bankrupt and curators are researching whether it can sell assets and restructure, the company said on Tuesday. VanMoof, which raised 100 million euros ($112.56 million) to expand internationally as sales boomed during the COVID-19 pandemic, had filed for protection from creditors last week. The company said in a statement that a judge at the Amsterdam District Court had declared Dutch entities VanMoof Global Holding BV, VanMoof BV and Van Moof Global Support BV bankrupt on July 17. VanMoof bikes feature a sleek, simplistic design with the battery built into the frame, and have become commonplace on the streets of Amsterdam, where the company was founded in 2009. ($1 = 0.8890 euros)Reporting by Toby Sterling; Editing by Muralikumar Anantharaman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Van Moof, Toby Sterling, Muralikumar Anantharaman, Louise Heavens Organizations: VanMoof, Van, NOS, Thomson Locations: AMSTERDAM, Amsterdam, VanMoof, Dutch

☆ SoftBank Group invests $65 million in British insurance firm - Nikkei
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 18 (Reuters) - SoftBank Group (9984.T) has invested $65 million in British company Tractable, an insurance technology company that uses AI to assess insurance claims in photos, the Nikkei Business Daily reported on Tuesday. In June CEO Masayoshi Son said he planned to shift to "offence mode" as artificial intelligence caught the attention of global investors. The group had previously slashed the volume of new investments in 2022 as it sought to recover from heavy losses on its Vision Fund investing arm. Reporting by Anton Bridge, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Masayoshi Son, Anton Bridge, Louise Heavens Organizations: SoftBank, Nikkei Business, Vision Fund, Thomson Locations: TOKYO

☆ Global rules leave crypto firms with no place to hide, says G20 watchdog
▼ + stars: | 2023-07-17 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters) - Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20's Financial Stability Board said on Monday. The FSB published on Monday final recommendations requested by the G20 on supervising firms that trade cryptoassets such as bitcoin. The watchdog also revised its existing recommendations for stablecoins in light of the demise of TerraUSD/Luna coins. The collapse of FTX in November 2022 highlighted vulnerabilities from crypto firms and the FSB said that all countries should apply the recommendations, even those that are not members of the watchdog. "Therefore, cryptoasset players need to stop operating outside the regulatory perimeter or in non-compliance with existing rules," FSB Secretary General John Schindler told reporters.

Persons: FTX, John Schindler, Schindler, Bitcoin, IOSCO, Huw Jones, Louise Heavens Organizations: Ripple Labs, European Union, FSB, Thomson Locations: FTX, Bahamas, Basel

Brent crude futures fell $1.31, or 1.7%, to $80.05 a barrel by 11:18 a.m. EDT (1518 GMT). U.S. West Texas Intermediate crude futures fell $1.34, or 1.7%, to $75.55 a barrel. A stronger greenback reduces oil demand, making crude more expensive for investors holding other currencies. Oil prices remained on course for a weekly gain of more than 2%, after supply disruptions in Libya and Nigeria heightened concerns that the markets will tighten in coming months. Separately, Shell suspended loadings of Nigeria's Forcados crude oil owing to a potential leak at a terminal.

Persons: Brent, Dollar, John Kilduff, John Evans, Shariq Khan, Natalie Grover, Sudarshan, Katya Golubkova, David Evans, Mark Potter, Louise Heavens, David Gregorio Our Organizations: Brent, . West Texas, Again, U.S, Shell, Thomson Locations: BENGALURU, Libya, Nigeria, Bengaluru, London, Singapore, Tokyo

☆ Tesla's Shanghai factory workers welcome bonus increase after record deliveries
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoSHANGHAI, July 14 (Reuters) - Several workers at Tesla's (TSLA.O) Shanghai plant, its biggest manufacturing hub globally by output, said they had been awarded a large increase in their latest quarterly performance bonuses. Three workers told Reuters that they had received bonuses of 1.5 times of monthly base salary for the second quarter. This was higher than the quarterly bonuses - 1.2 times the monthly salary - that the majority of workers used to receive for average performance, the workers said. One of the workers said that his performance bonus had doubled this month on the first quarter, when it was cut to 0.785 times the month salary. But the move comes after Tesla delivered 247,000 units of China-made electric vehicles in the second quarter, the highest level since its Shanghai plant opened.

Persons: Aly, Elon Musk, Tesla, Musk, Zhang Yan, Brenda Goh, Zhuzhu Cui, Louise Heavens Organizations: REUTERS, U.S, Reuters, Thomson Locations: Shanghai, China, SHANGHAI, Tesla's

Data centres are facilities that host IT systems and applications. In April, Brookfield Infrastructure acquired French data centre group Data4 in a deal said to have valued the company at close to 3.5 billion euros, including debt. Asterion formed Nabiax in 2019 through the acquisition of 11 data centres from Telefonica across Spain and Latin America. In March, the group sold its Latin American operations to British infrastructure fund Actis, with a view to focusing on its home market. A sale of Nabiax could help Telefonica pay down debt, a focus for the Spanish telecoms giant.

Persons: Nabiax, Pablo Mayo Cerqueiro, Amy, Jo Crowley, Andres Gonzalez, Jesus Aguado, John O'Donnell, Louise Heavens Organizations: Reuters, Infrastructure, Asterion Industrial Partners, BBVA, Citigroup, Telefonica, Brookfield Infrastructure, Thomson Locations: Madrid, Telefonica, Spain, Latin America, British, London

☆ UK extends Activision deadline after receiving Microsoft's 'complex' proposal
▼ + stars: | 2023-07-14 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The U.S. Federal Trade Commission is also opposed, but it suffered a major defeat on Tuesday when a federal court ruled in favour of Microsoft. It is battling on and filed an emergency motion to an appeals court requesting a "temporary pause" to the deal closing late on Thursday. Yet on Tuesday, less than an hour after a U.S. federal court ruled the deal could go ahead, the CMA said it could look again at a modified proposal. A Bloomberg report said Microsoft and Activision were considering giving up some control of their cloud-gaming business in Britain to appease the CMA. Additional reporting by Muvija M; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brad Smith, Jeremy Hunt, Smith, Gareth Mills, Charles Russell Speechlys, They'll, Muvija, Jason Neely, Louise Heavens Organizations: CMA, Microsoft, Activision, Markets Authority, U.S . Federal Trade Commission, Bloomberg, Thomson Locations: Britain, EU

Phillip alleged Barclays owed her a duty to ignore her instructions if the bank had reasonable grounds to suspect she was being defrauded. "Where the customer has authorised and instructed the bank to make a payment, the bank must carry out the instruction promptly," he said. "It is not for the bank to concern itself with the wisdom or risks of its customer's payment decisions." James Levy, a partner at law firm Ashurst, said the onus was on customers to ensure payment instructions were bona fide. The Supreme Court, however, allowed Philipp to pursue an alternative case against Barclays on the grounds that the bank breached its duty by failing to take adequate steps to recover the money transferred to the UAE.

Persons: Fiona Philipp, Phillip, George Leggatt, James Levy, Ashurst, Philipp, Sam Tobin, Kirstin Ridley, Louise Heavens, Barbara Lewis, Jane Merriman Organizations: Barclays, Wednesday, Court, United Arab Emirates, Payment Systems, Financial Services, UAE, Thomson Locations: fraudsters, UAE

☆ India's Vedanta to enter the chip market this year after Foxconn split
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 12 (Reuters) - India's Vedanta will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn (2317.TW) pulled out of the $19.5 billion chipmaking project. Foxconn separately intends to apply for incentives under India's semiconductor production plan. In an address to the shareholders, Agarwal said Vedanta will "this year, subject to government approval" begin its foray to setup its semiconductor and display units. After Foxconn pulled out, Vedanta said it has lined up partners for the venture, without giving any further details. Volcan Investments, Vedanta's holding company and Foxconn had signed a pact last year to set up semiconductor and display production plants in Prime Minister Narendra Modi's home state Gujarat in western India.

Persons: Anil Agarwal, Foxconn, Agarwal, Vedanta, Narendra Modi's, Foxconn's pullout, Tanvi Mehta, Nivedita Bhattacharjee, Louise Heavens Organizations: Volcan Investments, Reuters, JV, Sethuraman NR, Thomson Locations: BENGALURU, Volcan, Gujarat, India, Bengaluru, New Delhi

☆ Dutch light chips company Smart Photonics gets $110 mln in debt funding
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 12 (Reuters) - Smart Photonics, a Dutch company targeting the market for photonic computer chips, said on Wednesday it has received 100 million euros ($110 million) in debt funding. The money includes 60 million euros from a Dutch government fund and 40 million from industry players including chip equipment giant ASML and chipmaker NXP, both based in the Netherlands. Photonic chips use particles of light to complete circuits and transmit information, rather than the electrons used in computer chips and electronics. "With this new round of funding, SMART Photonics will be able to strengthen its role as the leading manufacturer of next generation chips in a growing, resilient European photonic value chain," it said in a statement. Smart Photonics is seeking to become a foundry, or contract manufacturer of photonic chips for companies that design but do not manufacture such chips.

Persons: chipmaker NXP, VDL, Toby Sterling, Louise Heavens Organizations: Smart Photonics, SMART Photonics, Thomson Locations: AMSTERDAM, Dutch, Netherlands

☆ Column: Vietnam's coal emissions primed for surge after imports jump: Maguire
▼ + stars: | 2023-07-12 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

July 12 (Reuters) - Vietnam's thermal power emissions are primed for a steep climb this summer after the country's imports of thermal coal soared to their highest levels in three years in May and June. The recent import spree brings Vietnam's total imports for the first half of 2023 to roughly 13.5 million tonnes, which is the highest for that period since 2020, when Vietnam's full-year coal imports hit an all-time high. BACKSLIDINGThe sharp rise in thermal coal imports snaps a lengthy quiet spell by Vietnam, the 18th largest CO2 emitter globally in 2022, on international coal markets. EMISSIONS TRAJECTORYTo provide enough power for both elevated air conditioner use and higher production line output, Vietnam's power producers are likely to have increased power generation from coal plants. Data on power generation since March is not yet available, but historically there has been a clear relationship between the country's thermal coal imports and its subsequent thermal power output and emissions, with coal imports leading output and emissions by a few weeks to a month or so.

Persons: Ember, Gavin Maguire, Louise Heavens Organizations: Reuters, Thomson Locations: Vietnam, China, COVID, Beijing, Asia, Kpler

[1/2] A 2020 Toyota Mirai hydrogen electric fuel cell car is displayed at the Canadian International Auto Show in Toronto, Ontario, Canada February 18, 2020. The decision marks a shift in focus for the Japanese automaker, a major backer of hydrogen fuel-cell vehicles as an alternative to electric vehicles. Toyota sold just over 3,900 fuel cell vehicles in 2022, less than half of 1% of its global sales of around 9.5 million vehicles. In May, Toyota and Daimler Truck Holding (DTGGe.DE) said they had agreed to cooperate on hydrogen technology and reached a preliminary deal to combine their truck businesses in Japan. Toyota launched its dedicated fuel-cell unit, the Hydrogen Factory, with 1,350 staff earlier this month.

Persons: Chris Helgren TOKYO, Hiroki Nakajima, Nakajima, Daniel Leussink, Kevin Krolicki, Louise Heavens Organizations: Canadian International, REUTERS, Toyota, North, Technology, Daimler Truck, Hydrogen, Fuji, Honda, General Motors, Thomson Locations: Toronto , Ontario, Canada, Europe, China, North American, Japan, California

Search resuls for: "Louise Heavens"

25 mentions found