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☆ UN Chief to Visit Gaza Border in New Plea for Truce
▼ + stars: | 2024-03-22 | by ( March | At P.M. | ) www.usnews.com time to read: +3 min

CAIRO (Reuters) - United Nations Secretary-General Antonio Guterres will visit Egypt's border with Gaza on Saturday to renew pleas for a ceasefire that could bring relief to a territory devastated by more than five months of war between Israel and Hamas. His trip comes as Israel threatens to launch a major military operation in the southern Gaza city of Rafah, just over the border from Egypt, despite international appeals against such an attack. He is expected to visit a hospital in Al Arish and meet U.N. humanitarian workers in Rafah. More than 32,000 people have been killed by Israel's military campaign in Gaza, many of them women and children, according to local health authorities. Guterres, who made one previous trip to Egypt's border with Gaza shortly after the war broke out, is visiting Egypt and Jordan as part of an annual "solidarity trip" to Muslim countries during Ramadan.

Persons: Antonio Guterres, Guterres, Jordan, Aidan Lewis, Edwina Gibbs Organizations: United Nations, Hamas, Palestinian Locations: CAIRO, Egypt's, Gaza, Israel, Rafah, Egypt, Arish, Sinai, Al Arish, United States, Cairo, Sudan, Darfur

☆ US Plans to Send Weapons to Israel Even as Biden Pushes for Ceasefire, WSJ Reports
▼ + stars: | 2024-02-16 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - The Biden administration is preparing to send bombs and other weapons to Israel that would add to its military arsenal even as the U.S. pushes for a ceasefire in Gaza, the Wall Street Journal reported on Friday, citing current and former U.S. officials. War in Israel and Gaza View All 209 ImagesThe U.S. State Department and Defense Department, Israel Defense Forces and Israel Defense Ministry did not immediately respond to a Reuters request for comment on the report. As of December 2023, the Biden administration had skipped congressional review of weapons sale to Israel twice. The Biden administration has faced criticism for continuing to supply arms to Israel as allegations pile up that American-made weapons have been used in strikes that have killed or injured civilians. Israel's air and ground offensive has since devastated much of Gaza, killing 28,775 people, also mostly civilians according to Palestinian health authorities, and forcing nearly all of its more than 2 million inhabitants from their homes.

Persons: Biden, Gursimran Kaur, Kanjyik Ghosh, Edwina Gibbs Organizations: Reuters, Wall Street, Attack Munitions, U.S, . State Department and Defense Department, Israel Defense Forces, Israel Defense Ministry Locations: Israel, U.S, Gaza, Iran, Bengaluru

☆ One Month on From Japan Quake, Volunteers Provide Safe Space for Kids
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

SUZU, Japan (Reuters) - One month on from a magnitude 7.6 earthquake that struck the west coast of Japan, volunteers from non-profit organisation Katariba play cards and other games with children in a Suzu city school classroom. Some of kids are still living in evacation centres, where it is difficult to play. Others have parents who are busy trying to deal with the task of rebuilding homes and livelihoods since the quake, so it's important to provide children with a safe place, says Katariba member Yoshiki Itashiki. After her daughter was temporarily evacuated to a different city, the service made it easier for her to come back. More than 13,600 people in Ishikawa prefecture where Suzu city is located are still living in evacuation centres.

Persons: Yoshiki Itashiki, Kanako, Sakura Murakami, Tom Bateman, Edwina Gibbs Locations: SUZU, Japan, evacation, Suzu, Ishikawa prefecture

☆ Pacific Islands Need to Boost Digital Security to Join Undersea Cable, Says US Official
▼ + stars: | 2024-01-30 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

By Kirsty NeedhamSYDNEY (Reuters) - Pacific Islands nations that want to connect to U.S.-funded undersea cables will need to secure their digital ecosystems to guard against data risks from China, a senior U.S. State Department official said. The United States pledged last year to jointly fund two undersea cables, to be built by Google, connecting the U.S. territory of Guam with hubs in Fiji and French Polynesia, and further branching out across remote Pacific Islands. The proposed intra-Pacific cable project has offered to branch out to Papua New Guinea, Samoa, Tuvalu, Fiji, Nauru, Marshall Islands, Kiribati, Cook Islands, Wallis and Futuna and the Federated States of Micronesia. China and the U.S. are jostling for influence in the Pacific Islands with competing offers for infrastructure. The Solomon Islands, which struck a security pact with Beijing, is rolling out a Chinese-funded mobile network built by Chinese telecommunications company Huawei.

Persons: Kirsty Needham SYDNEY, Nathaniel Fick, Kirsty Needham, Edwina Gibbs Organizations: Pacific, U.S . State Department, United, Google, Futuna, Federated, The U.S . Department of, Washington, Sydney, Huawei, Telstra, Microsoft, U.S Locations: U.S, China, Guam, Fiji, French Polynesia, Papua New Guinea, Samoa, Tuvalu, Nauru, Marshall Islands, Kiribati, Cook Islands, Wallis, Federated States, Micronesia, The, Solomon, Beijing, Australia, Asia, Pacific

☆ Intel, Siemens to collaborate on improving manufacturing, energy efficiency
▼ + stars: | 2023-12-04 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsDec 4 (Reuters) - Intel (INTC.O) and Siemens (SIEGn.DE) on Monday announced a three-year deal to collaborate on improving factory efficiency and automation with a special focus on improving energy efficiency and sustainability. The partnership with Siemens will help Intel operate the factory more efficiently, Esfarjani said. EUV, an energy-hungry technology, is so central to advanced chipmaking that significant parts of the manufacturing process revolve around it. The partnership with Intel will help Siemens deepen its understanding of this type of manufacturing where one technology is so core to the process and help it transfer that know-how to other industries. In that case, Siemens assisted with its transition to manufacturing electric vehicles from combustion engines.

Persons: Dado Ruvic, Keyvan Esfarjani, Esfarjani, EUV, Cedrik Neike, Max A, Edwina Gibbs Organizations: REUTERS, Intel, Siemens, Monday, Reuters, Taiwan Semiconductor Manufacturing, Mercedes, Benz, Thomson Locations: San Francisco

☆ Blast Rocks Home of Suspect Surrounded by Police in Virginia
▼ + stars: | 2023-12-04 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - A loud explosion rocked a neighborhood in a suburb of Washington, D.C., on Monday as police served a search warrant at a home where a suspect fired several gunshots and discharged a flare gun, police said. "As officers were attempting to execute a search warrant at the residence, the suspect discharged several rounds inside the home. Subsequently, an explosion occurred at the residence and officers continue to investigate the circumstances of the explosion," the Arlington County Police Department reported on X. Officers on the scene reported minor injuries with nobody taken to hospital, police said, adding that the fire department was on scene and attempting to put out the fire. Arlington County, with a population of about 234,000, is just across the Potomac River from Washington, D.C.(Reporting by Daniel Trotta; Editing by Edwina Gibbs)

Persons: Daniel Trotta, Edwina Gibbs Organizations: Reuters, Washington , D.C, Arlington County Police Department Locations: Washington ,, Arlington County, Potomac

☆ Exclusive: Panama may slash GDP growth view due to suspension of First Quantum mine
▼ + stars: | 2023-12-04 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Some experts calculate Panama would have to pay at least $50 billion if it loses the case, equivalent to nearly 70% of GDP. Ahead of the supreme court ruling, S&P revised Panama's outlook to negative from stable on potential risks to investor confidence and economic growth if the contract was found invalid. For First Quantum, the developments in Panama could be a repeat of its experience in the Democratic Republic Of Congo. The miner exited the African nation in 2012 after its mining contract was cancelled.

Persons: Hernan Arboleda, Laurentino Cortizo, Panamanians, Arboleda, Elida Moreno, Valentine Hilaire, Anthony Esposito, Edwina Gibbs Organizations: Minerals, REUTERS, Aris Mart, PANAMA CITY, Reuters, Gross, Panama, JPMorgan, Democratic, Thomson Locations: Panama, Donoso, PANAMA, Democratic Republic Of Congo

☆ India's construction sector levels up as housing demand spurs economy
▼ + stars: | 2023-12-02 | by ( Manoj Kumar | ) www.reuters.com time to read: +5 min

That helped India expand at a forecast-beating 7.6%, making it one of the world's fastest-growing major economies. It has been driven by rising incomes for many Indians, a severe housing shortage in big cities and strong population growth. Builders are bullish long-term with many saying the boom could last two to three years and some even more optimistic. "The housing market could continue to perform well for another three to four years," Sanjeev Jain, managing director at Parsvnath Developers, a leading real estate company, noting that India is in the initial stages of a housing growth cycle. The government is also trying to boost the availability of affordable housing by providing subsidies, which is encouraging construction in India's smaller towns and cities.

Persons: Nifty, Sunil Sinha, Sanjeev Jain, Prashant Thakur, Jayesh Rathod, Narendra Modi's, Manoj Kumar, Nigam, Ira Dugal, Edwina Gibbs Organizations: DELHI, Fitch, Builders, Parsvnath Developers, Reuters, Graphics, Advisory, Prestige Estates, DLF, Reuters Graphics, Thomson Locations: India, China, Mumbai, New Delhi, Bangalore, rocketed, Thane, Tamil Nadu, Karnataka, Gujarat

☆ Philippines, France to level-up defence ties
▼ + stars: | 2023-12-02 | by ( Mikhail Flores | ) www.reuters.com time to read: +1 min

MANILA, Dec 2 (Reuters) - The Philippines and France agreed to level-up defence cooperation between the two countries, Philippine defence minister Gilberto Teodoro said on Saturday. Teodoro met his French counterpart Sebastien Lecornu in Manila where he said they are working to get authority from their leaders to begin negotiations for a status of forces agreement. "We intend to take concrete steps to leveling up and making more comprehensive our defense cooperation," Teodoro said in a joint briefingLecornu's Manila visit is the first leg of his trip across the Indo-Pacific which includes stops in Malaysia and the French overseas territory of New Caledonia. France considers itself an Indo-Pacific power, with over 7,000 troops stationed in overseas territories in the Pacific and Indian Ocean. Reporting by Mikhail Flores; Editing by Lincoln Feast and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Gilberto Teodoro, Teodoro, Sebastien Lecornu, Mikhail Flores, Lincoln, Edwina Gibbs Organizations: Thomson Locations: MANILA, Philippines, France, Manila, Malaysia, New Caledonia, Pacific, Indian

People arrive to attend the Pledging Conference of the Green Climate Fund (GCF) for the First Replenishment in Paris, France, October 25, 2019. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsDUBAI, Dec 2 (Reuters) - The United States will pledge $3 billion to the Green Climate Fund, sources familiar with matter said on Saturday as Vice President Kamala Harris arrived in Dubai for the U.N. climate summit. The fund, with more than $20 billion in pledges, is the largest international fund dedicated to supporting climate action in developing countries. The latest pledge, which Reuters was first to report, would be additional to another $2 billion previously delivered by the United States. In addition to supporting climate adaptation, the fund also finances projects to help countries shift to clean energy.

Persons: Pascal, Kamala Harris, Harris, replenishments, Joe Biden, John Kerry, Nandita Bose, Valerie Volcovici, William James, Elizabeth Piper, Katy Daigle, Edwina Gibbs Organizations: Climate, REUTERS, Rights, Climate Fund, Reuters, Thomson Locations: Paris, France, United, Dubai, United States, U.S, COP28

☆ Philippines, France to Level-Up Defence Ties
▼ + stars: | 2023-12-02 | by ( Dec. | At A.M. | ) www.usnews.com time to read: 1 min

By Mikhail FloresMANILA (Reuters) - The Philippines and France agreed to level-up defence cooperation between the two countries, Philippine defence minister Gilberto Teodoro said on Saturday. Teodoro met his French counterpart Sebastien Lecornu in Manila where he said they are working to get authority from their leaders to begin negotiations for a status of forces agreement. "We intend to take concrete steps to leveling up and making more comprehensive our defense cooperation," Teodoro said in a joint briefingLecornu's Manila visit is the first leg of his trip across the Indo-Pacific which includes stops in Malaysia and the French overseas territory of New Caledonia. France considers itself an Indo-Pacific power, with over 7,000 troops stationed in overseas territories in the Pacific and Indian Ocean. (Reporting by Mikhail Flores; Editing by Lincoln Feast and Edwina Gibbs)

Persons: Mikhail Flores MANILA, Gilberto Teodoro, Teodoro, Sebastien Lecornu, Mikhail Flores, Lincoln, Edwina Gibbs Locations: Philippines, France, Manila, Malaysia, New Caledonia, Pacific, Indian

A fence is seen in front of wind turbines that are part of the Infigen Energy Capital Wind Farm located on the hills surrounding Lake George, near the Australian capital city of Canberra, Australia February 21, 2018. Australia's electricity transmission network, batteries and sustainable aviation fuel are three areas where simplified planning, subsidised finance and other regulatory changes could catalyse investment, according to a report released by eight major pension funds. Changes could quickly unlock A$4 billion ($2.7 billion) worth of investment in batteries, the report said. Once passive managers who predominantly invested at home, Australian pension funds have become international heavyweights, managing A$2.4 trillion - the fourth largest pool of retirement savings by country globally. Australian pension fund Aware Super committed A$10 billion.

Persons: David Gray, Paul Schroder, David Neal, Lewis Jackson, Edwina Gibbs Organizations: Infigen, REUTERS, Rights, Labor, Thomson Locations: Lake George, Canberra, Australia, U.S, EU, Korea, Canada

☆ Reaction to the death of US diplomat Henry Kissinger
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +4 min

Former U.S. Secretary of State Henry Kissinger addresses the House Committee on International Relations in a hearing about the Middle East peace process on Capitol Hill, Washington, U.S. on February 10, 2005. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsNov 30 (Reuters) - Here are reactions to the death of Henry Kissinger, a controversial Nobel Peace Prize winner who left an indelible mark on U.S. foreign policy:WINSTON LORD, FORMER U.S. DIPLOMAT AND WIFE OF LATE SEN JOHN MCCAIN:"Henry Kissinger was ever present in my late husband’s life. FORMER U.S. PRESIDENT GEORGE W. BUSH:"America has lost one of the most dependable and distinctive voices on foreign affairs with the passing of Henry Kissinger. And we will always be thankful for the contributions of Henry Kissinger."

Persons: Henry Kissinger, Jonathan Ernst, WINSTON, Henry, CINDY MCCAIN, SEN JOHN MCCAIN, John, McCain, MARTIN INDYK, HENRY KISSINGER, Kissinger, GEORGE W, Laura, XIE FENG, Kissinger's, centenarian, Edwina Gibbs, Tom Hogue, Clarence Fernandez, Sonali Paul Organizations: U.S, Committee, International Relations, REUTERS, AMBASSADOR, SPECIAL, Nazis, United States Army, UNITED STATES, Reuters bureaux, Thomson Locations: Hill, Washington , U.S, U.S, CHINA, European, Nancy, China

☆ Analysts at China's CICC told not to publish bearish views, wear luxury items -memo
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The company logo of China International Capital Corporation Ltd (CICC), China’s first joint venture investment bank, is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. Additionally, staff at the state-owned investment bank have been asked to not wear luxury brands or disclose their pay. Employees should "make sure their family members adhere to social and ethical standards", the memo said. Banks have also been forced to cut pay and perks for investment bankers, including compensation and budget reductions for travel and entertainment. Reuters reported in April that CICC slashed bankers' bonuses by as much as 40%.

Persons: China’s, Bobby Yip, CICC, Banks, Selena Li, Jason Xue, Sumeet Chatterjee, Edwina Gibbs Organizations: China International Capital Corporation, REUTERS, China International Capital Corp, HK, Reuters, Bloomberg, Thomson Locations: Hong Kong, China, HONG KONG, dealmaking

☆ Rakuten Group's losses, debt burden and financing efforts
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

Here are some details about its deeply troubled mobile business, the group's operating losses, debt burden and its efforts to shore up its finances. It had 351 billion yen ($2.4 billion) in annual sales last year and accounts for 18% of Rakuten's overall revenue. Rakuten Group currently has total debt of more than 1.5 trillion yen, of which 800 billion yen is due to be redeemed by the end of 2025. Nov 2022 - sells 19.99% of Rakuten Securities to Mizuho Securities for 80 billion yen. Nov 2023 - sells a further 29% of Rakuten Securities to Mizuho Securities for 87 billion yen.

Persons: Miho Uranaka, Rakuten, Hiroshi, Mickey, Mikitani, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, Rakuten, Reuters Graphics Reuters, Reuters Graphics, Japan Post Holdings, HK, Walmart, Rakuten Securities, Mizuho Securities, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Japanese

☆ Rakuten's mobile misadventure: from ambitious plan to millstone
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +5 min

By any measure, cash-bleeding Rakuten Mobile is deeply troubled. Rakuten is set for another tough year in 2024 with investors keen to see if it can achieve its goal of having the mobile unit break even. Those steps have raised some 800 billion yen ($5.4 billion). Then in October, SoftBank Corp (9434.T), Japan's No.3 mobile network provider, began offering a generous reward campaign for most mobile users using SoftBank Group's (9984.T) PayPay online payment system. Without profits, the mobile unit is not likely to entice would-be suitors and competition laws would probably prevent the likes of SoftBank and Docomo from bidding.

Persons: Japan's Rakuten, Hiroshi, Mickey, Rakuten, Mitsunobu Tsuruo, Rakuten's, NTT Docomo, Mikitani, Amir Anvarzadeh, Anton Bridge, David Dolan, Edwina Gibbs Organizations: Citi, Amazon Japan, Rakuten Securities, Rakuten Bank, SBI Securities, GUNNING, Rakuten Mobile, Reuters, NTT, SoftBank Corp, Asymmetric Advisors, Thomson Locations: TOKYO, ARPU

☆ Australia Oct retail sales slip as consumers hold off for Black Friday sales
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

Women shop for clothes on a store in a shopping mall in Sydney's central business district (CBD) Australia, February 5, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSYDNEY, Nov 28 (Reuters) - Australian retail sales unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month. Retail sales fell 0.2% from September to A$35.77 billion, data from the Australian Bureau of Statistics (ABS) showed on Tuesday. "This is a pattern we have seen develop in recent years as Black Friday sales grow in popularity." Data from e-commerce firm Shopify also showed that point-of-sale sales made by its merchants in Australia during this year's Black Friday sales grew 27% from a year ago.

Persons: Daniel Munoz, Ben Dorber, Shopify, that's, Marcel Thieliant, Michele Bullock, Stella Qiu, Tom Hogue, Edwina Gibbs Organizations: REUTERS, Rights, Australian Bureau of Statistics, Black, ANZ, Asia Pacific, Capital Economics, Reserve Bank of Australia, Thomson Locations: Australia

☆ Exclusive: Beijing bourse tells 'major shareholders' to refrain from selling, sources say
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The sign of Beijing Stock Exchange is seen at its entrance during an organised media tour, in Beijing, China February 17, 2022. A "major shareholder" is one with a stake of 5% or more and is required to make a public filing with the relevant stock exchange before selling shares, according to rules for China's bourses. The Beijing exchange has been rejecting those filings, said the people who were not authorised to speak to media and declined to be identified. The Beijing exchange and the China Securities Regulatory Commission did not immediately reply to requests for comment. The Beijing bourse currently houses 232 listed companies with a combined market capitalisation of 366 billion yuan ($50 billion).

Persons: Florence, Edwina Gibbs Organizations: Beijing Stock Exchange, REUTERS, Rights, bourse, China Securities Regulatory Commission, Beijing bourse, Shanghai bourse, Thomson Locations: Beijing, China, Rights SHANGHAI, BEIJING, Shanghai, Shenzhen

☆ Japan's corporate service inflation climbs in sign of broadening price pressures
▼ + stars: | 2023-11-27 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

TOKYO, Nov 27 (Reuters) - Japan's business-to-business service inflation accelerated in October as a tight job market lifted labour costs, underscoring a broadening of price pressures that could heighten the chance of a near-term end to ultra-loose monetary policy. The services producer price index, which measures the price companies charge each other for services, rose 2.3% in October from a year earlier, up from a revised 2.0% gain in September, Bank of Japan (BOJ) data showed on Monday. Information and communication, machinery repair and worker dispatching businesses saw fees increase from year-earlier levels due to higher labour costs. The data suggest Japan's economy is making progress towards achieving sustained rises in inflation accompanied by solid wage growth. His remarks have heightened market attention to developments in services prices, which most vividly reflect wages pressures companies face in their businesses.

Persons: Kazuo Ueda, Leika Kihara, Lisa Shumaker, Edwina Gibbs Organizations: Bank of Japan, Reuters, Thomson Locations: TOKYO

☆ Exclusive: Beijing stock exchange tells 'major shareholders' to refrain from selling -sources
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The sign of Beijing Stock Exchange is seen at its entrance during an organised media tour, in Beijing, China February 17, 2022. REUTERS/Florence Lo/File Photo Acquire Licensing RightsSHANGHAI/BEIJING Nov 27 (Reuters) - The Beijing Stock Exchange has de facto implemented a new policy that prevents major shareholders of companies listed on its bourse from selling stock, worried that such sales could douse a market rally, three people familiar with the matter said. The Beijing exchange has been rejecting those filings, said the people who were not authorised to speak to media and declined to be identified. The so-called window guidance - where directions are made orally without written documents - could help sustain the upward momentum for the Beijing Stock Exchange 50 Index (.CSI899050). Reporting by Beijing and Shanghai newsroom; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Edwina Gibbs Organizations: Beijing Stock Exchange, REUTERS, Rights, bourse, China Securities Regulatory Commission, Beijing Stock, Thomson Locations: Beijing, China, Rights SHANGHAI, BEIJING, Shanghai

☆ Sanofi looks to widen Dupixent use to treat 'smoker's lung' after second trial win
▼ + stars: | 2023-11-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsNov 27 (Reuters) - Sanofi (SASY.PA) plans to seek U.S. approval for it best-selling anti-inflammatory drug Dupixent to be used in the treatment of "smoker's lung", also known as COPD, after a second large trial showed significant benefits. The company had embarked on a second trial to bolster the statistical reliability of the read-outs. Details of the second trial would be presented at an as yet undisclosed medical conference, Sanofi added. The company has been discussing with major watchdogs across the world whether the BOREAS results were substantial enough to support a regulatory review and what role the second trial would play in reviews.

Persons: Sanofi, Gonzalo Fuentes, BOREAS, Ludwig Burger, Tassilo Hummel, Edwina Gibbs Organizations: Sanofi, Polyclonals, REUTERS, Food and Drug Administration, Thomson Locations: Lyon, France

☆ Fiji PM: China likely to collaborate on key port, shipyard project
▼ + stars: | 2023-11-22 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

REUTERS/Lincoln Feast/File Photo Acquire Licensing RightsSYDNEY, Nov 22 (Reuters) - Fiji Prime Minister Sitiveni Rabuka told parliament on Wednesday the Pacific Islands nation was likely to collaborate with China on a key port modernisation and shipyard project, after discussing it in a meeting with Chinese president Xi Jinping. Fiji previously sought Australia's involvement to build a modern ship-building facility at Lautoka, officials and a consultant to Rabuka on the project told Reuters. Rabuka told Fiji's parliament on Wednesday his government was focused on upgrading infrastructure, "particularly the modernisation of port facilities and shipyards". An Australian-based ship design company said Rabuka had earlier sought the involvement of Australia, Fiji's largest aid donor, in the shipyard project. China has been pushing for greater security and trade ties with Pacific Islands countries.

Persons: Sitiveni Rabuka, Xi Jinping, Rabuka, Xi, Stuart Ballantyne, Ballantyne, Vajira Piyasena, Kirsty Needham, Lincoln, Edwina Gibbs Organizations: REUTERS, Lincoln, Rights, Fiji Prime, Wednesday, Reuters, APEC, Wednesday Fiji, Fiji Ports, Fiji Ships, Heavy Industry, Pacific, Thomson Locations: Fiji, Suva, China, Lautoka, Australia, San Francisco, Australian, tradespeople, Pacific, Solomon Islands, United States, Papua New Guinea

The deal to acquire investment firm Carlyle's (CG.O) 28% holding in the burger chain's China business, which also includes its stores in Hong Kong and Macau, will see McDonald's stake rise to 48%. Since 2017, the number of McDonald's stores in China has doubled to 5,500 and the country has become its second-largest market. McDonald's made an unsolicited offer for Carlyle's stake in the China operations in recent weeks and the deal was struck quickly, said the sources. Reuters reported in August that Trustar Capital was planning to raise a continuation fund that would allow the Chinese private equity firm to sell down its stake in McDonald's China. In contrast to McDonald's, U.S. meat and processed food maker Tyson Foods (TSN.N) plans to sell its China poultry business, sources have said.

Persons: Benoit Tessier, Chris Kempczinski, McDonald's, Carlyle, Trustar, Jim Sanderson, Reckitt, Kane Wu, Granth, Deborah Sophia, Roxanne Liu, Edwina Gibbs Organizations: REUTERS, HK, CITIC, Trustar, Northcoast Research, Reuters, Tyson Foods, Primavera Capital, Thomson Locations: Bretigny, Paris, France, China, Hong Kong, Macau, CITIC, U.S, McDonald's China, British, Bengaluru, Beijing

☆ China says would be 'serious mistake' if Argentina cuts ties
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 21 (Reuters) - The Chinese foreign ministry said on Tuesday that it would be a "serious mistake" in Argentina's diplomacy if the South American nation were to cut ties with major countries like China or Brazil. China is an important trading partner for Argentina, and its elected government attaches great importance to relations with China, Chinese foreign ministry spokesperson Mao Ning said at a regular news conference. The right-wing libertarian has criticised China and Brazil, saying he won't deal with "communists," and favours stronger U.S. ties. Mondino also told RIA Novosti that Argentina would "stop interacting" with the governments of China and Brazil, when asked whether Argentina would encourage exports and imports with those countries. "China is willing to continue to work together with Argentina to promote the stability and long-term development of bilateral relations."

Persons: Mao Ning, Javier Milei, Diana Mondino, Mondino, Mao, Ethan Wang, Ryan Woo, Christopher Cushing, Edwina Gibbs Organizations: Argentina, RIA Novosti, Thomson Locations: BEIJING, China, Brazil, Argentina, Russia, India, South Africa

☆ Foxconn's electric car unit falls in market debut amid tough industry outlook
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

A view of a Foxtron logo on a electric vehicle on display during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 20 (Reuters) - Shares in Foxtron Vehicle Technologies (2258.TW), a unit of Taiwanese contract manufacturer Foxconn (2317.TW), fell in their market debut on Monday, hurt by concerns over headwinds in the highly competitive electric vehicle market. Foxtron shares did recover some ground from earlier losses of as much as 9%, ending down 2.7% which gave it a market capitalisation of around $2.7 billion. Foxtron is a joint venture between Foxconn - the world's largest contract manufacturer for iPhones and other consumer electronics - and local car maker Yulon (2201.TW). Young Liu, chairman of both Foxtron and Foxconn, said, however, the company has a clear strategy for growth.

Persons: Ann Wang, Foxtron, Yulon . Young Liu, Liu, Foxconn, Terry Gou, Ben Blanchard, Faith Hung, Anne Marie Roantree, Navaratnam, Edwina Gibbs Organizations: Tech Day, REUTERS, Rights, Vehicle Technologies, Mega International Securities, Yulon, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Foxconn, North America, Southeast Asia, China

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