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☆ Europe's stellar stocks and bonds rally has gone too far - Amundi
▼ + stars: | 2023-01-25 | by ( Naomi Rovnick | ) www.reuters.com time to read: +3 min

REUTERS/Benoit Tessier/IllustrationLONDON, Jan 25 (Reuters) - A blazing rally in European stocks and government bonds has gone too far, the chief investment officer of the region's largest asset manager said on Wednesday, warning that markets are ignoring the possibility of euro zone rates going as high as 4%. MSCI's broad index of European shares outside the UK (.dMIEU00000PUS) is up 8.8% so far in January. "We could expect a consolidation of 15% to 20% from current levels," on European equity indices, Mortier said. "These kinds of processes are very powerful and work well until something breaks, and that's why we don't want to participate [in the rally]," Mortier said. Continued ECB rate rises after the U.S. Federal Reserve pauses its hiking cycle could see the dollar weaken further, he said.

The lawsuit tackles a business at Google that is responsible for 80 percent of its revenue. The Justice Department asked the court to compel Google to break up its ad technology business. Eight states joined the department in Tuesday's lawsuit, including Google's home state of California. The lawsuit says "Google has thwarted meaningful competition and deterred innovation in the digital advertising industry." In addition to its well-known search, which is free, Google makes revenue through its interlocking ad tech businesses, which connect advertisers with newspapers, websites and other firms looking to host them.

REUTERS/Benoit TessierWASHINGTON, Jan 24 (Reuters) - The U.S. Justice Department filed a lawsuit against Alphabet's (GOOGL.O) Google on Tuesday over allegations that the company abused its dominance of the digital advertising business. "Google has used anticompetitive, exclusionary, and unlawful means to eliminate or severely diminish any threat to its dominance over digital advertising technologies," the government said in its antitrust complaint. The Justice Department asked the court to compel Google to divest its Google Ad manager suite, including its ad exchange AdX. The lawsuit is the second federal antitrust complaint filed against Google, alleging violations of antitrust law in how the company acquires or maintains its dominance. The Justice Department lawsuit filed against Google in 2020 focuses on its monopoly in search and is scheduled to go to trial in September.

☆ PREVIEW Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.

☆ Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-23 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

☆ Germany will coordinate with allies on Ukraine weapons decisions
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 22 (Reuters) - German Chancellor Olaf Scholz, under pressure to allow the shipment of German-made tanks to Ukraine, said on Sunday all decisions on weapons deliveries would be made in coordination with allies including the United States. Last week Germany and Western allies reached no decision on whether Germany would agree to send Leopard 2 tanks to Ukraine, or permit other countries that have them to do so, despite Ukraine's pleas for modern tanks to boost its defence efforts. Scholz, asked at a news conference in Paris about providing tanks to Ukraine, said all weapons deliveries to Ukraine so far had taken place in close coordination with Western partners. Speaking at the same news conference, French President Emmanuel Macron said he did not rule out the possibility of sending Leclerc tanks to Ukraine. REUTERS/Benoit Tessier/File PhotoMacron said that sending tanks must not escalate the situation, must take into account the time to train Ukrainians to be effective, and must not endanger France's own security.

☆ Exclusive: Google parent to lay off 12,000 workers in latest blow to tech
▼ + stars: | 2023-01-20 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +2 min

REUTERS/Benoit TessierJan 20 (Reuters) - Google's parent Alphabet Inc (GOOGL.O) is eliminating about 12,000 jobs, or 6% of its workforce, it said Friday, as Silicon Valley reels from recent layoffs and faces a troubled outlook. The cuts at Alphabet come days after Microsoft said it would lay off 10,000 workers. Alphabet CEO Sundar Pichai told staff in a memo that the firm had reviewed its products, people and priorities, leading to job cuts across geographies and tech. Alphabet's job losses affect teams across the company including recruiting and some corporate functions, as well as some engineering and products teams. Reporting by Jeffrey Dastin in Davos, Switzerland; Editing by Elaine Hardcastle and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Dior Homme gives new life to age-old classics at Paris Fashion Week
▼ + stars: | 2023-01-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Kim Jones as part of his Menswear ready-to-wear Fall/Winter 2023-2024 collection show for fashion house Dior during Men's Fashion Week in Paris, France, January 20, 2023. REUTERS/Benoit TessierPARIS, Jan 20 (Reuters) - Dior Homme took to the runway with a polished lineup of reworked classics on Friday, kicking Paris Fashion Week's menswear shows into high gear with a celebrity-packed show. A sombre procession ensued and models walked out slowly, as actors Gwendoline Christie and Robert Pattinson recited T.S. Dior men's artistic director Kim Jones transformed familiar pieces such as fishermen's rain caps, slickers and chunky sweaters into an elevated styles in muted colors - ivory, dusty blues and a pale, mustard yellow. Paris Fashion Week menswear shows run through Jan. 22.

☆ Strike reduces French power supply, halts refinery shipments
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

EDF's (EDF.PA) outage table showed a 4.5 GW nuclear supply reduction at eight reactors, 460 megawatts (MW) of reduced hydropower and 2.8 GW of lower thermal production. This is how strikes work in France : strikers are not allowed to put security of supply at risk," analyst Emeric de Vigan said. Meanwhile, deliveries of refined oil products were blocked from leaving refineries operated by TotalEnergies , the company said. There would be no disruption to fuel supplies at service stations if the unions maintained their strike timetable, TotalEnergies has said. The CGT refineries federation has called for a single day of strike this week and further walkouts next week and the week after.

Google challenged the directive in the Supreme Court saying it would hurt consumers and also its business, warning the growth of the Android ecosystem could stall. A three-judge bench of the Supreme Court, which included the chief justice of India, extended the implementation date of CCI's directives by a week beyond Jan. 19, but declined to block the ruling despite Google's repeated requests. Google licenses its Android system to smartphone makers, but critics say it imposes restrictions such as mandatory pre-installation of its own apps that are anti-competitive. Google also says in its India filings that "no other jurisdiction has ever asked for such far-reaching changes". "We have not cut, copy and paste," N Venkataraman, a government lawyer representing the Competition Commission of India (CCI), told the top court.

☆ Global shareholder activism sees record number of European campaigns
▼ + stars: | 2023-01-18 | by ( Amy-Jo Crowley | ) www.reuters.com time to read: +3 min

REUTERS/Benoit TessierLONDON, Jan 18 (Reuters) - Activist shareholders stepped up pressure on corporate boardrooms last year by starting 235 campaigns to shake up companies, including a record number in Europe. Activists buy up stakes in companies to lobby for change that they hope will improve a target’s share price. Large-cap companies with a value $25 billion or more accounted for the biggest share of overall campaigns, while technology and industrial companies accounted for roughly four in ten campaigns. Lazard's report said that while the number of activist campaigns rose sharply last year, activist investors’ returns were hit by tumbling public market performance especially in the United States. Mergers and acquisitions-related campaigns, including "sell the company" demands, also made a come-back and represented 41% of all campaigns, despite global dealmaking suffering a fall last year.

☆ Saint Laurent opens Paris Fashion Week with chic evening wear for men
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Anthony Vaccarello during his Menswear ready-to-wear Fall/Winter 2023-2024 collection show for fashion house Saint Laurent as part of Men's Fashion Week in Paris, France, January 17, 2023. REUTERS/Benoit TessierPARIS, Jan 17 (Reuters) - French luxury house Saint Laurent kicked off Paris Fashion Week's menswear shows Tuesday night with a sleek lineup of sharply tailored evening looks for men, drawn up by designer Anthony Vaccarello. Models strode on pointy, heeled boots, their turtlenecks pulled up high, while tightly cinched overcoats were worn with the collars turned up. She continued to play as Vaccarello walked out for his bow, prompting a burst of applause and cheers from the audience. Paris Fashion Week's menswear collections run through Jan. 22, and will feature shows from high-end labels including Louis Vuitton, Dior Homme, Givenchy, Hermes and Maison Margiela.

☆ Volkswagen Group deliveries lowest in over a decade
▼ + stars: | 2023-01-12 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Buzz, a fresh take on the iconic vehicle of the Volkswagen brand, during its world premiere in Paris, France, March 9, 2022. Group sales rose 14.3% in the fourth quarter, but the outlook for 2023 remains clouded by weak economies and supply chain shortages, extended executive sales committee member Hildegard Wortmann said. Audi, Lamborghini and Bentley weathered 2022 better than Volkswagen Passenger Cars and Skoda, with deliveries down around 4% at the premium brands and down 9% for mass-market vehicles. Group deliveries fell 7% versus 2021. The Volkswagen Group's deliveries were up 12% in the second half of the year, but the full-year figure was dragged down by a drop of over a fifth in the first half.

☆ French minister says France still committed to Burkina Faso despite tension
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Benoit TessierOUAGADOUGOU, Jan 10 (Reuters) - A French minister said on Tuesday her government would not stop supporting Burkina Faso in its fight against Islamist militants and wished to remain involved despite growing anti-French sentiment and diplomatic tensions. Relations between France and Burkina Faso, a former French colony, have deteriorated following two military coups this year that were partly spurred by local authorities' failure to protect civilians from jihadist attacks. Tensions flared last month, when the Burkina Faso government requested the replacement of France's ambassador. Protests by opponents of the French military presence surged this year, partly linked to perceptions that France has not done enough to improve security. Zacharopoulou said French troops would remain in Burkina Faso "as long as their presence is desired".

☆ Pentagon awards $7.8 billion F-35 contract modification to Lockheed Martin
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

[1/2] The logo of Lockheed Martin is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit TessierWASHINGTON, Dec 30 (Reuters) - The U.S. Defense Department said on Friday it had awarded a $7.8 billion contract modification for F-35 aircraft to Lockheed Martin Corp (LMT.N). "This modification adds scope to procure 127 F-35 Lot 16 aircraft," the Pentagon said in a statement. The additional contract announced Friday takes the total deal between the company and the Pentagon for delivering 398 F-35s to $30 billion, the company said. Reporting by Kanishka Singh in Washington; Editing by Tim AhmannOur Standards: The Thomson Reuters Trust Principles.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Struggling to Find Accountants, Businesses Boost Salary Offers, Hire Temporary Workers
▼ + stars: | 2022-12-19 | by ( Mark Maurer | ) www.wsj.com time to read: +7 min

Companies’ accounting and finance departments in particular, which are crucial for managing financial operations, internal controls and financial reporting, are suffering from the lack of personnel. It has 20 to 30 open finance and accounting positions globally, Mr. Juillard said. Companies also try to retain the finance and accounting workers they have. “Securing that talent has been the biggest problem,” Mr. Thorpe said. GEE used to elevate staff accountants to senior accountants in one to three years and to managers in three to six years, Mr. Thorpe said.

☆ Stanford President’s Research Draws Concern From Scientific Journals
▼ + stars: | 2022-12-16 | by ( Amy Dockser Marcus | ) www.wsj.com time to read: 1 min

Stanford University President Marc Tessier-Lavigne is said to be working with scientific journals and the Stanford board of trustees to resolve questions about the accuracy of images in his research. Two major scientific journals expressed concern over years-old studies co-written by Stanford University president and neuroscientist Marc Tessier-Lavigne , stopping short of corrections or retractions. Science and Cell wrote in so-called editorial expressions of concern on Thursday that they would await the outcome of an investigation by Stanford and the papers’ authors before determining whether additional steps were necessary.

☆ Netflix's 'Emily in Paris' embraces French life in new season
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 14 (Reuters) - Cultural frictions give way to personality clashes in Netflix's (NFLX.O) "Emily in Paris," according to creator Darren Star who recently joined the show's cast members in the French capital for the global premiere of the third season. The new season of the television comedy starring Lily Collins as Emily Cooper, an American who moves to Paris from Chicago for a marketing job, will be released on Dec. 21. Kate Walsh, William Abadie, Philippine Leroy-Beaulieu, Samuel Arnold, Lily Collins, Ashley Park, Lucien Laviscount, Camille Razat, Bruno Gouery and Lucas Bravo attend the world premiere of the third season of the Netflix series "Emily in Paris" at the Theatre des Champs Elysees in Paris, France, December 6, 2022. In the third season, actors Paul Forman and Melia Kreiling join as new cast members. “New characters come in and add a lot of new texture and complications for the entire ensemble,” said Star.

☆ Sanofi Says it does not intend to make an offer for horizon, leaving Amgen as sole bidder
▼ + stars: | 2022-12-11 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: Sanofi's logo at the company's headquarters in Paris, France, February 4, 2022. REUTERS/Benoit Tessier(Reuters) -French health group Sanofi said on Sunday that it no longer intends to make an offer for biotech company Horizon Therapeutics Plc HZNP.O, leaving Amgen Inc as the only remaining bidder. The Wall Street Journal reported on Sunday that Amgen was in advanced talks to buy Horizon. A deal could be finalised by Monday assuming the talks with Amgen don’t fall apart, the report added.

☆ Morocco, France fans clash with police in Paris after World Cup win
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Soccer Football - FIFA World Cup Qatar 2022 - Fans gather in Paris for Morocco v Portugal - Paris, France - December 10, 2022 Police officers are seen near a motorbike during the Morocco fans celebrations REUTERS/Benoit TessierPARIS, Dec 10 (Reuters) - French police fired tear gas on the Champs Elysees in Paris as fans were celebrating victories by France and Morocco in the World Cup, sending them to the tournament’s semi-finals. Thousands of supporters had filled the famous Parisian avenue soon after the match between Morocco and Portugal, chanting, waving flags and honking their horns amid large police deployment. Reuters TV footage showed people smashing shop ventures and fights with police. Some fires could also be seen on avenue de Friedland close to the Champs Elysees. Reporting by Antony Paone and Sybille de La Hamaide; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ A winning group! 165 Belgians share $150 mln lottery jackpot
▼ + stars: | 2022-12-09 | by ( Charlotte Campenhout | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/Illustration/File PhotoDec 9 (Reuters) - Christmas came early for 165 people from the small northern Belgian village of Olmen who won 142,897,164 euros ($150.81 million) in the EuroMillions lottery this week, the biggest group win ever in Belgium. She said it was the first time in Belgium that such a big group had won this much. "Many winning customers were in disbelief at first," said storekeeper Wim Van Broekhoven who was as stunned as his wife when they heard the winning numbers. "We have had quite a few new customers since the big win, but no one in the village holds any grudges against the winners," Van Broekhoven said. EuroMillions is a draw game of the National Lottery, organised in coordination with lotteries from France, Britain, Spain, Portugal, Ireland, Austria, Switzerland and Luxemburg.

☆ EssilorLuxottica signs 10-year licensing agreement with Swarovski
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of EssilorLuxottica exhibition space is displayed at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit Tessier/File PhotoDec 6 (Reuters) - EssilorLuxottica (ESLX.PA) signed an exclusive licensing agreement with Swarovski Eyewear, the Franco-Italian eyewear maker said on Tuesday. "We have always seen each pair of frames as a piece of art to be worn, which makes Swarovski and its story such a wonderful fit," Francesco Milleri, chairman and CEO of EssilorLuxottica said in a statement, expressing his excitement for the "journey with Swarovski". The agreement, which Swarovski's CEO Alexis Nasard said is in line with the jewels maker's LUXignite strategy, will be effective until the end of 2028, with an automatic renewal option for additional five years. Reporting by Piotr Lipinski in Gdansk, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. agency opens safety probes into Honda, Jeep, Ram vehicles
▼ + stars: | 2022-12-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/File PhotoWASHINGTON, Dec 6 (Reuters) - The U.S. National Highway Traffic Safety Administration (NHTSA) is opening new safety probes into 1.72 million Honda vehicles, 230,000 Jeeps and 390,077 Ram trucks. The largest probe covers reports alleging a loss of power for more than 1.7 million U.S. 2018-2022 model year Honda CR-V and HR-V vehicles. NHTSA is also investigating 390,000 2017-2018 model year Ram 2500-3500 pickup trucks after received 134 reports alleging an intermittent or permanent loss of braking performance. A U.S. spokesman for Stellantis NV (STLA.MI), the parent company of Jeep and Ram, said it was fully cooperating in the investigations. There are no crashes or injuries reported in relation to any of vehicles in the three new investigations to date.

☆ How electric air taxis could shake up the airline industry in the next decade
▼ + stars: | 2022-12-03 | by ( Mikaela Cohen | ) www.cnbc.com time to read: +5 min

Companies across the U.S., including several startups, are developing electric air taxis that aim to take cars off the road and put people in the sky. In October, Delta Air Lines joined the list of airlines backing EV technology startups, with a $60 million investment in Joby Aviation, a company developing electric vertical takeoff and landing aircraft (eVTOLs), intended to operate as an air taxi service. In 2021, when Joby announced its plan to launch its Uber-like air taxis by 2024, it generated criticism from industry analysts on the ability to launch by that date. One is for $15 million with Eve Air Mobility for 200 aircraft, and another for $10 million with Archer Aviation for 100 eVTOLs. Air taxis could hit markets in the 2030sWhile major airlines enter agreements with global startups, it's important to remember these are conditional.

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