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☆ 8 U.S. cities where people are moving to live cheaply: They'd 'rather pack their bags than pay a higher rent,' expert says
▼ + stars: | 2024-11-07 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

The Bank of America Institute found the top eight cities where people are moving for cheaper rent. "Consumers would rather pack their bags than pay a higher rent, and that can play out in two ways," Joe Wadford, an economist at the Bank of America Institute, tells CNBC Make It. Cleveland, Ohio Ken Redding | The Image Bank | Getty ImagesTop 8 U.S. cities where people are moving for cheaper rentCleveland, OhioIndianapolis, Ind. The state of Ohio had two cities land in the top 8 on the Bank of America Institute list. The city is home to major sports teams like the Cleveland Cavaliers, the Cleveland Guardians, and the Cleveland Browns.

Persons: Major metropolises, Joe Wadford, Wadford, Cleveland , Ohio Ken Redding, Bill Dickinson Organizations: of America Institute, Bank of America Institute, Bank of America, Las Vegas , Nevada Eyeem Mobile, Istock, Getty, CNBC, Bank, Cleveland, Cleveland Cavaliers, Cleveland Guardians, Cleveland Browns, Roll Hall of Fame, Cleveland Museum of Art, Columbus, Columbus Ohio Sky Locations: Las Vegas , Nevada, West, Northeast, New York, Boston, San Francisco, San Jose, Los Angeles, Cleveland , Ohio, Cleveland , Ohio Indianapolis, Ind, Las Vegas, Nev, Columbus , Ohio Jacksonville, Fla, Austin , Texas Phoenix, Ariz, Nashville, Tenn, Ohio, U.S, Columbus Ohio

☆ Air taxi firm Lilium plunges 45% after saying main subsidiaries will file for insolvency
▼ + stars: | 2024-10-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Shares of Lilium tanked Thursday after the air taxi firm said in a filing that its two main subsidiaries will file for insolvency in the coming days. The German aerospace startup's shares plunged more than 60% before paring losses to 45% following the news. Lilium was seeking to raise 50 million euros ($54 million) of loans from the state coffers, however its request was rejected by lawmakers. In all, Lilium was trying to raise a convertible loan of 100 million euros. The subsidiaries' planned insolvency filings could result in Lilium ultimately delisting from the Nasdaq Global Select Market, or having its shares suspended.

Persons: Lilium, KfW Organizations: Nasdaq, Lilium GmbH, Lilium, Company Locations: Germany, Bavaria, Bavarian, foreclosing

☆ Activist firm Mantle Ridge has $1 billion-plus stake in Air Products
▼ + stars: | 2024-10-04 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Mantle Ridge has a $1 billion-plus stake in industrial gas supplier Air Products and Chemicals , according to a person familiar with the matter. The activist investor also wants to push the company on succession planning for Seifi Ghasemi, Air Products' 80-year-old CEO, the person said. Air Products is badly underperforming the S&P 500 for a second straight year. Air Products has a market cap of about $63 billion as of Friday's close. Air Products supplies chemicals and gases primarily to industrial customers, but has in recent years diversified into other businesses.

Persons: Seifi Ghasemi, Mantle, Paul Hilal, Seifi, Samir Serhan, Ghasemi, Warren Buffett, Berkshire Hathaway, Ken Squire Organizations: Air Products, Oiltanking, Chemicals, Products, Berkshire, CSX

☆ Rolls-Royce shares soar to all-time high on reinstated dividend, raised profit guidance
▼ + stars: | 2024-08-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Shares of Rolls-Royce jumped more than 11% to hit an all-time high on Thursday after the company reinstated its dividend and raised its profit forecast on the back of strong first-half results. That's up from the £1.7 billion to £2.0 billion forecast in its 2023 full-year results and ahead of market expectations. The firm, which supplies aviation giants Boeing and Airbus, also said it would resume dividends for full-year 2024, starting at a 30% pay-out ratio of underlying profit after tax. "These results and our increased financial resilience give us the confidence to raise our 2024 guidance and reinstate shareholder distributions in respect of the full year 2024 results," Erginbilgic added. Underlying operating profit was £1.15 billion, up from £673 million in the previous year.

Persons: Royce, Tufan Erginbilgic, Erginbilgic Organizations: Royce Trent, Airbus, Lufthansa Technik AG, Royce, London, Boeing Locations: British

GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.

Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg

☆ Man arrested after climbing onto roof of stadium during Euro 2024 game, police say he wanted to take ‘good photos’
▼ + stars: | 2024-06-30 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —A man has been arrested after he climbed onto the roof of the BVB Stadion in Dortmund during Germany’s last-16 match against Denmark at Euro 2024, police said. Social media clips show a man climbing in the rafters of the stadium dressed in black with his face covered. He was arrested at 11:44 p.m. local time, police said, after complying with police requests and was found with camera equipment in his bag. UEFA – European football’s governing body – said stadium safety and security was the “ultimate priority” for them, the German football association and tournament organizers. “UEFA would like to commend the police, stadium and local authorities for their co-operation in the incident last night in Dortmund involving an individual arrested by the police on the stadium roof,” UEFA told CNN in a statement.

Persons: – Organizations: CNN, Germany’s, Denmark, Dortmund, UEFA, European, DFB, ” Dortmund Locations: Dortmund, Herne, Ulm, German, Germany

☆ Euro 2024: Why Austria are the tournament’s biggest surprise
▼ + stars: | 2024-06-29 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +6 min

CNN —It is not uncommon to see certain teams emerge as dark horses or surprise packages at international tournaments, but few could have predicted that Austria would be the story of Euro 2024. But that’s the nice thing about football.”A unique styleGernot Trauner of Austria scores his team's first goal against Poland. Petr David Josek/APRangnick’s redemptionPerhaps the most compelling aspect of Austria’s Euro 2024 campaign has been the reminder of Rangnick’s abilities as a manager. He had various stints with German clubs such as Stuttgart, Hannover and Schalke but is best known for his work with Austrian side Red Bull Salzburg and German team RB Leipzig. Form soon picked up though and Das Team booked its ticket to Euro 2024 after losing only one game in the qualifying stages.

Persons: Robert Lewandowski, Kylian Mbappé, ” Marcel Sabitzer, UEFA.tv “, ”, Ralf Rangnick, Julian Finney, it’s, Rangnick, Jürgen Klopp, Julian Nagelsmann, Petr David Josek, Annegret Hilse, Red Bull, Ole Gunnar Solskjær, wouldn’t, “ Organizations: CNN, France, Das Team, Poland, Liverpool, Germany national, Austria, Hannover, Schalke, Austrian, Red Bull Salzburg, RB Leipzig, Red Bull GmbH, Leipzig, Salzburg, Austrian Bundesliga, Bundesliga, Champions League, Reuters, Red, Russian, Lokomotiv Moscow, Manchester United, Premier League, Nations League B Locations: Austria, Poland, Netherlands, France, England, Denmark, Slovenia, Serbia, Stuttgart, Leipzig, Turkey, unchartered

☆ How the makers of Catan: New Energies reworked the board game to address the climate crisis
▼ + stars: | 2024-06-14 | by ( Saira Mueller | ) edition.cnn.com time to read: +10 min

This is, says Kowert, because “games reflect culture.”Adding climate crisis elements to games can also make the topic more accessible, Kowert says. On the side of the Catan: New Energies board, a little black marker tracks the level of greenhouse gasses in the current game. It can also trigger the early end of the game, in which case the player with the most renewable power plants wins. Players can add green discs to the bag — which can give players using renewable energy bonuses — by building renewable power plants. When development on New Energies started in 2011 there were three renewable energy sources: wind, water and solar.

Persons: ” Rachel Kowert, “, Catan, Erik Assadourian, ”, Benjamin Teuber, Klaus Teuber, Teuber, Assadourian, Kelli Schmitz, playtesters Organizations: CNN, Storm, ”, Catan, Worldwatch Institute, Catan GmbH, Development, Brand Development Locations: Springs, United States

☆ Roche alleges counterfeit diabetes medical devices were sold on Amazon
▼ + stars: | 2024-06-10 | by ( Scott Zamost | ) www.cnbc.com time to read: +4 min

Roche Diabetes Care Inc. Accu-Chek brand glucose test strips are arranged for a photograph in the Brooklyn borough of New York, U.S., on Thursday, April 4, 2019. Roche , one of the world's largest biotech companies, said "dangerous counterfeits" of its diabetes medical devices ended up for sale on Amazon to be bought by patients throughout the United States. "Patients know that Roche's Accu-Chek medical devices are safe, sterile and accurate," the complaint said. After the suit was filed, a judge granted Roche's request for a temporary restraining order to stop the defendants from selling the counterfeit products. The complaint was filed on behalf of Roche Diabetes Care Inc., Roche Diabetes Care GmbH and Hoffmann-La Roche Inc, by attorneys with the New York-based law firm Patterson Belknap Webb & Tyler.

Persons: Roche, Patterson Belknap Webb, Tyler, Dileep Kumar Yadav, Abhishek Jain, Ratnakar Sharma, Atikur Rahman Organizations: Roche Diabetes Care Inc, Amazon, CNBC, Roche Diabetes Care GmbH, Hoffmann, Roche Inc, New, JMD Enterprises, JMD, JMD International Locations: Brooklyn, New York, U.S, United States, India, New York City

☆ These innovative airline cabin concepts could be the future of flying
▼ + stars: | 2024-05-29 | by ( Francesca Street | ) edition.cnn.com time to read: +6 min

Welcome to the future of aviation – at least according to the 2024 Crystal Cabin Awards. Courtesy QantasCaroline Oxley, who works for the Crystal Cabin Award Association, tells CNN Travel this year’s finalists share a “more democratic approach” to improving the passenger experience. This year’s winner of the “sustainable cabin category” was Diehl Aviation for their “ECO Sidewall” – a greener take on an airplane wall. The winners of this year’s Crystal Cabin AwardsWinner Cabin Concepts: Factorydesign, Coop. Qantas Airways Ltd “The Wellbeing Zone”Winner IFEC and Digital Services: Thales Avionics “FlytEdge”Winner Sustainable Cabin: Diehl Aviation “ECO Sidewall”University winners: Tongji University, Coop.

Persons: whittling, Diehl, Qantas Caroline Oxley, Oxley, AirPRO, DesignBüro Stühmer, Scholz, intriguingly, Crystal, BermudAir, theCUBE, Dupont “ Organizations: CNN, Germany CNN, Aircraft, Diehl Aviation, Qantas, Accenture, Schroth Safety, ”, Tongji University, University of Sao, Embraer, Sao Paolo, University of Virginia Tech, Boeing, Collins Aerospace, Wheelchair, Safety, Coop, Qantas Airways Ltd, Digital Services, Thales Avionics “ FlytEdge, Aviation, Sidewall ” University Locations: Hamburg, Germany, Sydney, London, New York, Shanghai, University of Sao Paulo, Brazil, Coop

☆ Shopify shares plunge 18% on weak guidance
▼ + stars: | 2024-05-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

The corporate logo of e-commerce company Shopify hangs at the building that contains the offices of Shopify Commerce Germany GmbH on August 08, 2022 in Berlin, Germany. Shopify reported first-quarter earnings and sales on Wednesday that were ahead of Wall Street expectations, but it gave a downbeat forecast for the current quarter. Shopify said it expects second-quarter revenue to grow at a high-teens percentage rate year-over-year, a slowdown from the previous period. The company has posted year-over-year revenue growth in the low-to-mid twenties for the past six quarters. Second-quarter revenue would grow in the "low-to-mid-twenties" year-over-year when adjusting for the divestiture of the logistics business, Shopify said.

Persons: Shopify Organizations: Shopify Commerce, Shopify Commerce Germany GmbH Locations: Shopify Commerce Germany, Berlin, Germany

☆ Adrian Newey: Red Bull chief techical officer and pioneering engineer to leave F1 team in 2025
▼ + stars: | 2024-05-01 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +3 min

CNN —Red Bull’s pioneering engineer and Chief Technical Officer Adrian Newey is set to leave the outfit in the first quarter of 2025, the team announced in a statement on Wednesday. Prior to Red Bull, the 65-year-old enjoyed successful spells at Williams and McLaren. “For almost two decades, it has been my great honour to have played a key role in Red Bull Racing’s progress from upstart newcomer to multiple title-winning team,” Newey said in the statement released by Red Bull. He was later cleared of any wrongdoing as announced by the Formula One team’s parent company, Red Bull GMBH. According to multiple reports in March, Red Bull suspended the female employee who had leveled the accusations against Horner.

Persons: Adrian Newey, Newey, Red Bull, McLaren, ” Newey, ”, Christian Horner, ” Horner, “, Dietrich Mateschitz, Max Verstappen, Clive Mason, Horner, Mercedes ’ Toto Wolff Organizations: CNN, Red Bull, Constructors, Williams, “, Red Bull Racing Team, Red, Dutchman, Prix, Getty, Australian, Formula, Red Bull GMBH

☆ How this UK-based firm is growing a more sustainable cannabis
▼ + stars: | 2024-04-08 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +2 min

Cannabis plants grow in the clone room at Aurora Deutschland GmbH, a manufacturer of medical Cannabis products, in Leuna, Germany September 11, 2023. But some companies are trying to combat that like U.K.-based cultivator Glass Pharms. It claims to be the world's first firm to grow cannabis indoors in a carbon-neutral way. That is then used to heat and cool Glass Pharms' greenhouse. This means Glass Pharms' greenhouse facility does not take any electricity from the energy grid, nor does it rely on mains water.

Persons: James Duckenfield, Duckenfield Organizations: Aurora Deutschland GmbH, CNBC Locations: Aurora, Leuna, Germany, England

And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

☆ Was Sydney Sweeney’s Oscars after-party look a subversive nod to Marilyn Monroe?
▼ + stars: | 2024-03-11 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

CNN —There was something uncanny about Sydney Sweeney’s look at the Vanity Fair Oscars party last night. Last week, Sweeney made her “Saturday Night Live” hosting debut with a string of jokes centered around her sexualized typecasting, rumors of affairs with co-stars and the size of her chest. Were Sweeney’s breasts, as one writer for Canada’s National Post put it, “double-D harbingers of the death of woke”? “(But) with Sweeney, what it really comes down to is this: Sex sells.”Since then, it’s been open season for Sydney Sweeney boob jokes, especially in comments under the actor’s Instagram posts. “Leave Sydney Sweeney’s boobs out of this,” wrote The Cut.

Persons: Marilyn Monroe, Sweeney isn’t, — Anna Nicole Smith, Kim Kardashian, Beyoncé, James Franco, Sweeney, Danny Moloshok, ”, “ We’ve, Amy Hamm, it’s, Sydney Sweeney boob, Sweeney’s, Sydney Sweeney, Barbie, Marc Bouwer, Angelina Jolie, Carlo Allegri, —, biopics, Monroe, Billy Wilder's, Emily Ratajkowski, I’ve, she’s Organizations: CNN, YouTube, Canada’s, SNL, Sydney, United, “ Locations: ogling, “

☆ Christian Horner: Red Bull suspends female employee who accused team principal of inappropriate behavior, per reports
▼ + stars: | 2024-03-08 | by ( Homero De La Fuente | ) edition.cnn.com time to read: +4 min

CNN —Red Bull has suspended the female employee who accused F1 team principal Christian Horner of inappropriate behavior, according to multiple reports. CNN has been unable to corroborate their authenticity and Red Bull said it would be “inappropriate” to comment on the matter. “The reality is that there was a grievance that was raised, it was dealt with in the most professional manner by the group, not by Red Bull Racing but by the owners of Red Bull GMBH, that appointed an independent KC, that is one of the most reputable KC’s in the land,” Horner said. As far as I’m concerned, as far as Red Bull is concerned, we move on.”‘Focus is very much on the future’Media speculation that three-time F1 world champion Max Verstappen could leave Red Bull Racing has arisen, after his father Jos Verstappen called for Horner’s sacking following the allegations. Clive Rose/Getty ImagesHorner added that he expects Verstappen will see out his contract with the team through 2028.

Persons: Bull, Christian Horner, Horner, Red Bull, ” Horner, “, Max Verstappen, Jos Verstappen, Horner’s, “ I’m, Clive Rose, Verstappen, ”, “ He’s, He’s, we’ve, he’s, Zak Brown, McLaren, CNN’s Amanda Davies, Brown, ” Brown Organizations: CNN, Prix, Red Bull, Red Bull GMBH, KC, McLaren Racing’s, FIA Locations: Jeddah, Saudi Arabia, Bahrain, Red

☆ 2024 Formula One season: How to watch the Bahrain Grand Prix and the biggest storylines to look out for this year
▼ + stars: | 2024-02-29 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +11 min

The 2024 campaign will be the longest F1 season in history, featuring 24 race weekends. How to watch the season opener in BahrainThe 2024 season starts with the Bahrain Grand Prix after three days of testing in the Middle Eastern nation last week. Red Bull’s 2023 F1 season was the most dominant of all time. He was eventually cleared of any wrongdoing by the investigation, the team’s parent company, Red Bull GMBH, announced on Wednesday. Albon has bounced back from a disappointing spell at Red Bull in 2020 and is now a highly-sought after driver.

Persons: Max Verstappen, Lewis Hamilton’s, Hamilton, “ It’s, ” Hamilton, Mercedes, Will Buxton, Carlos Sainz, “, Hamad I Mohammed, Bull, Red Bull, Mercedes ’, George Russell, Verstappen, Max, hasn’t, he’s, Lawrence Barretto, ” Verstappen, Clive Rose, we’ve, Christian Horner, Horner, “ I’m, ” Horner, Ferrari, Russell, Charles Leclerc, Alex Albon, Williams, Lando Norris, Oscar Piastri, Fernando Alonso, Aston Martin, Kimi Antonelli, Sainz, Carla Carniel, Sergio Pérez, Daniel Ricciardo –, Red Bull’s, –, Aston, Haas, Albon, James Vowles, Mark Thompson, McLaren, Piastri, Norris, Dan Istitene, Alonso, Lance, Lawrence, Patrick Mahomes, Travis Kelce –, Pierre Gasly, Esteban Ocon Organizations: CNN, Bahrain, Circuit, Red Bull Racing, Prix, ESPN, Qualifying, Saudi, Mercedes, Ferrari, PETRONAS F1 Team, Scuderia Ferrari, Arrows, Reuters, Constructors, CNN Sport, Red Bull GMBH, Sky Sports, “, McLaren, Silver Arrows, Bulls, Sauber, Team, Red Bull, Getty, Aston Martin’s, Kansas City Chiefs Locations: Bahrain, British, Jeddah, Saudi Arabia, Abu Dhabi, Red, Aston Martin, Thai, –

☆ Christian Horner: Red Bull team principal cleared of wrongdoing following probe into inappropriate behavior
▼ + stars: | 2024-02-28 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +1 min

CNN —Red Bull team principal Christian Horner has been cleared of wrongdoing after an external investigation into allegations of inappropriate behavior, the Formula One team’s parent company, Red Bull GMBH, said in a statement on Wednesday. The independent investigation was launched by Red Bull in February after Horner was accused of engaging in inappropriate behavior towards a member of the racing team, allegations the 50-year-old had denied. “The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed,” the statement read. Red Bull is confident that the investigation has been fair, rigorous and impartial. Red Bull will continue striving to meet the highest workplace standards.”Horner became Red Bull team principal in 2005, making him the youngest in Formula One.

Persons: Christian Horner, Red Bull, Horner, Mr Horner, ” Horner, Red, Mark Thompson, Horner – Organizations: CNN, Red Bull, Red Bull GMBH, Formula One Locations: Bahrain

☆ Christian Horner: Red Bull team principal to remain in role after investigation into alleged inappropriate behaviour
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +2 min

Red Bull Team Principal Christian Horner in the team principals press conference during day two of F1 Testing at Bahrain International Circuit on February 22, 2024 in Bahrain, Bahrain. Christian Horner will continue in his role as Red Bull team principal after allegations of inappropriate behaviour made against him were dismissed following an investigation. "The independent investigation into the allegations made against Mr Horner is complete, and Red Bull can confirm that the grievance has been dismissed," a statement from Red Bull GmbH said. Red Bull is confident that the investigation has been fair, rigorous and impartial. Red Bull will continue striving to meet the highest workplace standards."

Persons: Red Bull Team Principal Christian Horner, Christian Horner, Red Bull, Horner, Mr Horner, Milton Keynes Organizations: Red Bull Team Principal, Bahrain, Circuit, Red Bull GmbH, Red Bull Locations: Bahrain, Austrian, Milton

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ Novartis lifts sales growth target to 5% per year through 2027
▼ + stars: | 2023-11-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

The logo of Swiss drugmaker Novartis is pictured at the company's French headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsCompanies Novartis AG FollowSandoz GmbH FollowFRANKFURT, Nov 28 (Reuters) - Novartis (NOVN.S) has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after it sold off its generic-drugs business. The medium-term target, which excludes any foreign exchange effects, is mainly driven by six drugs, led by Kisqali, it said in a presentation on Tuesday. The sales forecast, up from a previous revenue growth target of 4% through 2027, is also underpinned by demand for Pluvicto, a precision radiotherapy against prostate cancer, and self-administered multiple sclerosis (MS) shot Kesimpta. Reporting by Ludwig Burger; Editing by Miranda Murray and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles Platiau, Kisqali, Vas, Kesimpta, drugmaker, Sandoz, Ludwig Burger, Miranda Murray, Miral Organizations: Swiss, Novartis, REUTERS, Companies Novartis, Sandoz, FRANKFURT, Thomson Locations: Rueil, Malmaison, Paris, France, Basel, Swiss

☆ Caterer Compass forecasts strong growth in 2024
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Catering group Compass Group (CPG.L) expects 2024 underlying operating profit to grow about 13%, aided by strong demand leading to high single-digit organic revenue growth and stronger margins, it said on Monday. Compass, the world's largest catering group, said adjusted operating profit rose nearly 30% to 2.12 billion pounds ($2.64 billion) for the year ended Sept. 30, in line with market expectations. "Going forward, we expect to sustain mid to high single digit organic revenue growth and ongoing margin progression leading to profit growth ahead of revenue growth and increased cash generation," CEO Dominic Blakemore said in a statement. Annual underlying revenue grew 18.8% to 31.3 billion pounds, registering growth across its markets. In financial year 2023, it signed 2.7 billion pounds of new business, with first-time outsourcing accounting for about 50%.

Persons: Dado Ruvic, Dominic Blakemore, Compass, Hofmann, Yadarisa, Rashmi Organizations: REUTERS, Compass, Manufaktur GmbH, Thomson Locations: Argentina, Angola, Bengaluru

☆ An Italian ski resort shut down by climate change plans to reopen with artificial snow. Not everyone is happy
▼ + stars: | 2023-11-18 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +8 min

Now, plans to build a multi-million-dollar ski facility on a snowless northern Italian mountain may prove equally challenging. The Lake Como town of Bellagio is among communities backing the reopening of ski facilities. Old turnstiles, ski lift pillars, and even a map of now-vanished pistes can still be found on the mountain. Snow could become even more scarce in the future as the impacts of the climate crisis accelerate. The first plans for the Monte San Primo ski area were passed and the money pledged in early 2022.

Persons: Matteo Colombo, ”, Roberto Fumagalli, Fumagalli, doesn’t, Monte, George Clooney “ We’ve, George Clooney, “, hasn’t, ” Fumagalli, Snow, Roberto Fumagalli ‘, Angelo Barindelli, Alessandro Fermo, It’s, won’t Organizations: CNN, Getty, World Wildlife Fund, Italian Alpine, Alamy, Hollywood, Protesters, Lombardy Regional Council, Facebook, Monte Locations: Messina, Venice, San, Lake Como, Bellagio, Monte San, Mauritius, Cardiff, Bristol, Italy, Ethiopia, of Africa, Lombardy, Monte San Primo

☆ E-Flight Challenge pitched a car against a plane -- and the car won
▼ + stars: | 2023-11-14 | by ( Miquel Ros | ) edition.cnn.com time to read: +12 min

Members of the E-Flight Challenge team lined up to watch the battery-powered airplane gracefully descend on the island of Norderney, just off the northwest coast of Germany. The long road ahead for electric aviationYou could say that the E-Flight Challenge takes its inspiration from the early days of aviation. The Elektra Trainer used in the E-Flight Challenge, for example, can carry a maximum of two people. Miquel RosIn this context, the E-flight Challenge served as an illustration of the challenges of electric flight – but also of its promise. The progress compared to just three years ago has been astonishing!” explains Morell Westermann, one of the E-Flight Challenge initiators.

Persons: Louis, Charles Lindbergh’s, Heart Aerospace –, –, Miquel Ros Italy’s Tecnam, China’s, Cuberg, ” Robin Riedel, Riedel, Norbert Werle, Tesla, Werle, ”, John Langford, Miquel Ros, Morell Westermann, Westermann Organizations: CNN, Lucid Motors Air, Louis Blériot’s, Channel, Heart Aerospace, United Airlines, Royce, Norwegian, Widerøe, Airbus, Boeing, Aerospace, McKinsey, Alamy, “ Aircraft, Lucid Motors Locations: Norderney, Germany, Gelnhausen, Frankfurt, Norway, Swedish, California, Berlin, The Virginia, “, Swiss

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