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London Police Say Chemical Attacker Presumed Dead
  + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +1 min
LONDON (Reuters) - London police said on Friday that a man suspected of injuring several people last week by throwing a corrosive chemical on them is now presumed to have drowned in the River Thames. The case has drawn political attention in Britain because Ezedi had been granted asylum after a sexual assault conviction. Metropolitan Police Commander Jon Savell told reporters authorities now presume, based on CCTV footage, that Ezedi went into the River Thames from a bridge in west London. "It is now our main working theory that Ezedi has actually gone into the Thames from Chelsea Bridge. All of our work thus far has not seen him come off the bridge," Savell said.
Persons: Abdul Shokoor Ezedi, Ezedi, Jon Savell, Savell, Rishi Sunak, Sachin Ravikumar, Mark Potter Organizations: London, Police, Metropolitan Police, Chelsea Bridge, BBC Locations: London, Britain, Chelsea, Afghanistan
Suspected Militants Kill Four Nigerian Police Officers
  + stars: | 2024-02-03 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +1 min
MAIDUGURI, Nigeria (Reuters) - At least four police officers were killed in Nigeria's northeast Borno state after a gun battle with suspected Islamist insurgents, a police spokesperson said on Saturday. Borno state police spokesperson Nahum Daso Kenneth said the militants had on Friday night attacked Gajiram town in the Nganzai local government area, some 82 kilometres (51 miles) from Maiduguri, the state capital. "Our men engaged them in a gun battle (and) they denied the terrorists access to the town, and repelled the attack. Unfortunately, four policemen have paid a supreme price," Kenneth said, adding that calm had returned to the town. ISWAP fighters are known to operate in Nganzai, where they carry out sporadic attacks against security forces and residents.
Persons: Borno, Haram, Nahum Daso Kenneth, Kenneth, herder, Ahmed Kingimi, MacDonald Dzirutwe, Mark Potter Organizations: Reuters Locations: MAIDUGURI, Nigeria, Nigeria's, Borno, West Africa Province, Gajiram, Maiduguri, Nganzai
JERUSALEM (Reuters) - The Israeli military said on Saturday that since the outbreak of the Gaza war on Oct. 7 it had struck more than 50 targets in Syria linked to the Iranian-backed Lebanese movement Hezbollah. The remarks, in a briefing by chief military spokesperson Rear Admiral Daniel Hagari that mainly discussed efforts to beat back Hezbollah attacks launched in solidarity with Hamas, were a departure from Israel's usual reticence about Syria operations. Everywhere Hezbollah is, we shall be," Hagari said. Israeli forces have attacked 34,000 Hezbollah targets in Lebanon, including 120 border surveillance outposts, 40 caches of missiles and other weaponry and more than 40 command centres, Hagari said. Hagari said Israel had deployed three army divisions along its side of the Lebanese border in anticipation of Hezbollah getting involved after Palestinian Hamas launched a shock cross-border attack on Oct. 7, triggering the war in the Gaza Strip.
Persons: Daniel Hagari, Hagari, Israel, Dan Williams, Mark Potter Organizations: Hezbollah, Hamas Locations: JERUSALEM, Gaza, Syria, Lebanon, Lebanese, Israel, Beirut
In an exclusive interview on Thursday, Ambassador Jeff Flake said that once the formal ratification document is received in Washington, the U.S. State Department will immediately send Congress notification of the F-16s sale. Turkey's parliament ratified Sweden's NATO membership bid on Tuesday, clearing a major hurdle to expanding the Western military alliance after 20 months of delay. "So I would expect as soon as that is conveyed to Washington, then congressional notification (of the F-16 sales) will happen." "The president here needs to sign it and then the instrument needs to be conveyed to Washington," he told Reuters by phone. Both Erdogan and members of the U.S. Congress had tied Turkey's backing of Sweden's NATO bid with congressional approval of the $20 billion sale of Lockheed Martin aircraft and modernization kits to Turkey.
Persons: Jonathan Spicer ISTANBUL, Tayyip Erdogan, Jeff Flake, Erdogan, Lockheed Martin, Joe Biden, Jonathan Spicer, Mark Potter Organizations: NATO, U.S, Congress, U.S . State Department, Gazette, Republican, Reuters, U.S . Congress, Lockheed Locations: U.S, Turkey, Ankara, Washington, Sweden, NATO
JAKARTA (Reuters) - Indonesia has allowed three Boeing 737 MAX 9 planes to fly again after grounding them, as they have different configurations from a jet that was forced to make an emergency landing in the United States on Jan. 5, its transport ministry said on Thursday. A cabin panel broke off a new Boeing 737 MAX 9 jet operated by Alaska Airlines in mid-flight, leading to the grounding of the model and inspections by the U.S. Federal Aviation Administration (FAA). After grounding the three planes operated by Lion Air on Jan. 6 and later inspecting them, Indonesia's transport ministry said it had allowed them to fly again since Jan. 11. Lion Air said in a statement the planes had different configurations from the Alaska Airline plane. The transport ministry said the Lion Air planes had a "mid cabin emergency exit door type II" whereas the Alaska Airlines plane had a "mid exit door plug."
Persons: Stanley Widianto, Bernadette Christina, Mark Potter Organizations: Boeing, Alaska Airlines, U.S . Federal Aviation Administration, FAA, Lion Air, Lion, Alaska Airline Locations: JAKARTA, Indonesia, United States, Portland , Oregon, Ontario , California
By Philip PullellaVATICAN CITY (Reuters) - Pope Francis on Wednesday urged political, economic and business leaders at the World Economic Forum (WEF) in Davos to look beyond profit and try to heal an "increasingly lacerated" world with moral and ethical decisions. In his message to the world's movers and shakers meeting at the Swiss resort, Francis urged them to tackle the "injustices that are at the root causes of conflict", primarily hunger and the exploitation of natural resources for the benefit of the few. "How is it possible that in today's world people are still dying of hunger, being exploited, condemned to illiteracy, lacking basic medical care, and left without shelter?" The Argentine-born pope, the first from the Global South, said the world situation required that "businesses themselves be increasingly guided not simply by the pursuit of fair profit, but also by high ethical standards". The "widespread exploitation" of male, female and child labourers with low wages and no real prospects for personal and professional development must stop, he said.
Persons: Philip Pullella, Pope Francis, Francis, , Mark Potter Organizations: CITY, Wednesday, Economic Locations: Davos, Swiss, States, Argentine
By Ben Blanchard and Michael MartinaTAIPEI (Reuters) -Taiwan's defence ministry said it detected 18 Chinese air force planes operating around Taiwan and carrying out "joint combat readiness patrols" with Chinese warships on Wednesday, the first large-scale military activity after the Taiwanese election. Taiwan's defence ministry said that starting around 7:50 p.m. (1150 GMT) on Wednesday it had detected 18 aircraft including Su-30 fighters operating off northern and central Taiwan and to the island's southwest. Eleven of those aircraft crossed the Taiwan Strait's median line, or areas close by, working with Chinese warships to carry out "joint combat readiness patrols", the ministry added. Taiwan sent its own forces to monitor, its defence ministry said. There was no immediate response from China's defence ministry.
Persons: Ben Blanchard, Michael Martina TAIPEI, Democratic Progressive Party's, Lai Ching, Biden, Lai, Vincent Chao, Xi Jinping, Chao, We're, David Brunnstrom, Michael Martina, Gareth Jones, Mark Potter, Jamie Freed Organizations: Taiwan, Democratic Progressive, China's Taiwan Affairs Office, U.S . State Department, U.S . Institute of Peace, U.S Locations: Taiwan, China, Taipei, Beijing, Taiwan Strait, U.S, United States, Washington
JERUSALEM (Reuters) - Israel accused Hamas on Saturday of planning to attack its embassy in Sweden as part of an expansion by the Palestinian Islamist militant group into Europe, where authorities announced the arrests of several suspects last month. In a statement following up on the arrests announced by Danish, German and Swedish authorities, Israel's Mossad intelligence agency named an alleged Hamas network member in Sweden, without specifying whether he was also in custody. The Foreign Ministry in Stockholm declined to comment on the specific security of Israel's embassy, but said: "Sweden takes its commitments under the Vienna Convention to protect foreign missions very seriously." The Mossad statement said a multi-national investigation received information that the Hamas network took orders from a group command post in Lebanon and had "intent to attack the Israeli embassy in Sweden, to procure paragliders and to activate members of criminal groups in Europe". Hamas used paragliders as part of its shock multi-pronged attack on Israel on Oct. 7 which triggered the Gaza war.
Persons: Dan Williams, Marie Mannes, Mark Potter Organizations: West Bank, Foreign Ministry, Vienna Convention, Hamas Locations: JERUSALEM, Israel, Sweden, Palestinian, Europe, Gaza, Stockholm, Vienna, Lebanon
ISTANBUL (Reuters) - Turkey carried out air strikes in northern Syria and Iraq, hitting 25 Kurdish militant targets, the Turkish Defence Ministry said in a statement on Saturday. The operations were conducted in northern Syria and Metina, Hakurk and Qandil regions of northern Iraq at 9 p.m. (1800 GMT), the ministry said. The defence ministry said many militants were "neutralised" - a term mostly used to mean killed - in air strikes that destroyed 25 targets consisting of caves, shelters and depots. Nine Turkish soldiers were killed in a clash on Friday with members of the outlawed Kurdistan Workers Party (PKK). (Reporting by Burcu Karakas; Editing by Mark Potter and Mike Harrison)
Persons: Burcu Karakas, Mark Potter, Mike Harrison Organizations: Turkish Defence Ministry, Kurdistan Workers Party Locations: ISTANBUL, Turkey, Syria, Iraq
Representations of cryptocurrencies are seen in front of displayed Binance logo in this illustration taken November 10, 2022. U.S. regulators have brought several cases against crypto firms such as Binance, helping to establish "guardrails" to bring "order and structure" to the market, CFTC Commissioner Kristin Johnson told an FT crypto and digital assets summit. She urged crypto firms to study the Binance settlement to see what sort of governance regulators look for at crypto firms. The CFTC will also be "deeply thoughtful" on requiring better disclosures at crypto firms that are vertically integrated, combining different activities under one roof. In the meantime, crypto firms are setting up shop in Britain to build an ecosystem that can service the rest of the world and benefit from "nuanced" regulators, Quintenz said.
Persons: Dado Ruvic, Kristin Johnson, Johnson, Brian Quintenz, Quintenz, Xiao, Xiao Zhu, Huw Jones, Mark Potter Organizations: REUTERS, Futures Trading Commission, Treasury Department, Justice Department, European Union, CFTC, KKR, Thomson Locations: U.S, Binance's, Britain
JERUSALEM, Dec 5 (Reuters) - The Tel Aviv Stock Exchange said on Tuesday that a report by U.S. researchers suggesting there were investors in Israel who may have profited from prior knowledge of Hamas' Oct. 7 attack was inaccurate and its publication irresponsible. "There was nothing unusual in short positions in the stock exchange in the two months before the attack." "The ISA's examinations found, inter-alia, that the average short balances for shares traded on the Tel-Aviv Stock Exchange declined during the period preceding October 7th," the regulator said in a statement. Their report said "short interest in the MSCI Israel Exchange Traded Fund (ETF) suddenly, and significantly, spiked" on Oct. 2, based on data from the Financial Industry Regulatory Authority (FINRA). He also said the short position in Leumi was taken by an unidentified Israeli bank known to the TASE.
Persons: Robert Jackson Jr, Joshua Mitts, Yaniv Pagot, Pagot, Mitts, Steven Scheer, Mark Potter, Leslie Adler Organizations: Tel Aviv Stock Exchange, U.S, New York University, Columbia University, Hamas, Reuters, Israel Securities Authority, Tel, Aviv Stock Exchange, ISA, Leumi, MSCI Israel, Fund, Financial Industry Regulatory Authority, Thomson Locations: Israel, Leumi, Israel's, agorot, MSCI
REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Amazon (AMZN.O) has told Britain's antitrust authority its rival Microsoft (MSFT.O) uses business practices that restrict customer choice in the cloud computing market, the second major company to criticise the U.S. tech giant's operations. Britain's Competition and Markets Authority (CMA) launched an investigation into the country’s cloud computing industry in October, following a referral from media regulator Ofcom that highlighted Amazon and Microsoft’s dominance of the market. “To use many of Microsoft’s software products with these other cloud services providers, a customer must purchase a separate license even if they already own the software,” Amazon said. In its own submission to the CMA, Microsoft said Britain's cloud computing market remained competitive. "There are many sources of competition in the cloud market in the UK.
Persons: Fabian Bimmer, Amazon, Martin Coulter, Jane Merriman, Mark Potter Organizations: Microsoft, Hannover Messe, REUTERS, Britain's, Markets Authority, CMA, Ofcom, , Reuters, Google, Oracle, IBM, Thomson Locations: Hanover, Germany
Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 29 (Reuters) - Adobe (ADBE.O) will aim to counter EU antitrust charges that its proposed $20 billion acquisition of cloud-based designer platform Figma hurts competition at a closed hearing on Dec. 8, two people familiar with the matter said on Wednesday. The European Commission two weeks ago warned that the deal may reduce competition in the global market for the supply of interactive product design software where market leader Figma competes with Adobe. It said the acquisition would eliminate Figma as a competitor in the supply of vector editing tools and supply of raster editing tools and reinforce Photoshop maker Adobe's dominance. The EU antitrust enforcer, which is due to decide on the deal by Feb. 5, declined to comment.
Persons: Dado Ruvic, Figma, Dana Rao, Foo Yun, Mark Potter Organizations: REUTERS, Rights, European Commission, Adobe, Rivals, Reuters, Thomson Locations: Rights BRUSSELS, EU, Britain
FIBI, Israel's fifth largest bank, also said on Wednesday it would keep unchanged its dividend policy of paying out 50% of annual net profit. Net profit for the July-September quarter was 455 million shekels ($124 million), down from 467 million shekels a year earlier. FIBI said it had 165 million shekels in credit loss expenses in the quarter, versus 43 million the previous year. FIBI recorded a non-interest financing expense of 1 million shekels in the quarter versus income of 48 million the year before. FIBI said its board approved a dividend distribution of 90 million shekels.
Persons: Baz Ratner, FIBI, Smadar Barber, Steven Scheer, Mark Potter Organizations: International Bank of Israel, REUTERS, Rights, Bank of, Thomson Locations: Jerusalem, Bank of Israel
RIYADH, Nov 29 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has struck a share purchase agreement to buy a 10% stake in TOPCO, the holding company of Heathrow Airport Holdings Ltd, from Ferrovial (FERF.AS), state news agency (SPA) reported on Wednesday. Reporting by Clauda Tanios Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Clauda, Mark Potter Organizations: Saudi, Public Investment Fund, Heathrow Airport Holdings, Thomson Locations: RIYADH, TOPCO, Ferrovial
[1/5] Customers visit the Second Chance Store, a new shop selling returned and refurbished products from Amazon's Second Chance programmes in-person in central London, Britain November 28, 2023. Acquire Licensing RightsLONDON, Nov 29 (Reuters) - Consumer demand for refurbished and pre-owned goods in Britain and across Europe has created a billion pound ($1.3 billion) business for Amazon (AMZN.O), its UK boss said. "Customers are telling us that they’re shopping second hand items to save money in the ongoing cost of living crisis and because they want to shop more sustainably," Boumphrey told reporters. He was speaking at the launch of Amazon UK's "Second Chance Store" - a Christmas pop-up shop in London selling returned and refurbished items. Amazon has invested 56 billion pounds in Britain since 2010, including 12 billion in 2022 alone, Boumphrey said.
Persons: John Nguyen, Handout, John Boumphrey, Boumphrey, James Davey, Mark Potter Organizations: REUTERS, Acquire, Amazon, Reuters, Digital Markets, Competition, Consumers, European Union, Thomson Locations: London, Britain, Europe
REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsDUBAI/LONDON, Nov 29 (Reuters) - OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting was possible amid talks which one of them described as difficult as countries maintained their positions. "The negotiations are ongoing, but no delay is expected," one of the sources said. OPEC+ sources said this was because of a disagreement over output quotas for African producers, though sources since said the group had moved closer to a compromise on this point. OPEC+ talks over production quotas have often been difficult in the past, most recently at their June meeting, which extended existing oil output cuts into 2024 and agreed the increase for the UAE because of its efforts to expand production capacity.
Persons: Dado, Maha El, Olesya Astakhova, Alex Lawler, Ahmad Ghaddar, Mark Potter, Kim Coghill Organizations: REUTERS, Rights, United, Brent, OPEC, Thomson Locations: Rights DUBAI, LONDON, OPEC, United Arab Emirates, UAE, Saudi Arabia, Russia, Saudi
Signs for Emirates airlines are stacked to the side at Logan Airport in Boston, Massachusetts, U.S., January 19, 2022. "If you have an engine ... not performing as it should do, your costs are going to rise. Get your product right, design it to what the client wants, give it that high level of reliability. And yes, paradoxically, you can extract more value for your money for your buck in terms of your investment." He brushed aside the idea of renegotiating existing engine contracts to raise hourly pricing, saying "don't go there".
Persons: Brian Snyder, Tufan Erginbilgic, Tim Clark, Clark, I've, Royce, Erginbilgic, we're, Tim Hepher, Sharon Singleton, Mark Potter Organizations: Emirates, Logan Airport, REUTERS, Rights, Dubai's, Royce, Reuters, Airbus, Boeing, Airlines, Raytheon Technologies, Thomson Locations: Boston , Massachusetts, U.S, Dubai's Emirates, British, Dubai
The $9.3 billion in additional costs through 2028 is for deals with the UAW as well as Canadian union Unifor, and translates to about $575 per vehicle over the life of the deals. GM's new guidance reduced expected net income attributable to stockholders for 2023 to a range of $9.1 billion to $9.7 billion, compared to the previous outlook of $9.3 billion to $10.7 billion. That includes an estimated $1.1 billion EBIT-adjusted impact from the UAW strike, which lasted just over six weeks, primarily from lost production. GM had approximately 1.37 billion shares of common stock outstanding prior to the buyback program, the company said. GM will still have another $1.4 billion of capacity remaining under its share repurchase authorization for additional stock buybacks.
Persons: Heather Somerville, Mary Barra, Barra, Cruise, Goldman Sachs, David Shepardson, Ben Klayman, Sharon Singleton, Mark Potter Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, GM, Cruise, Bank of America, Barclays, Citibank, Thomson Locations: San Francisco , California, U.S, California, Detroit
LONDON, Nov 29 (Reuters) - Swiss insurer Baloise (BALN.S) is in talks to sell around 1 billion euros ($1.1 billion) of life insurance policies in Belgium, two people familiar with the matter told Reuters. The efforts come as other traditional insurers sell non-core portfolios with a view to freeing up capital held against those liabilities. In 2020, the Swiss group purchased the non-life insurance operations of Apollo-backed Athora. Baloise saw premiums in its non-life insurance business grow by close to 6% in the first nine months of the year to 3.4 billion Swiss francs ($3.9 billion) globally. However, life insurance premiums dropped more than 4% to 2.9 billion francs during the same period, according to its latest earnings release.
Persons: Baloise, Pablo Mayo, Paul Arnold, Anousha Sakoui, Mark Potter Organizations: Baloise, Reuters, The, ING Groep, ING, Aegon, Royal London, Swiss, Apollo, Fidea, Pablo Mayo Cerqueiro, Thomson Locations: Belgium, The Basel, London, Zurich
China's Xi visits financial hub Shanghai
  + stars: | 2023-11-29 | by ( ) www.reuters.com   time to read: +3 min
Chinese President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsSHANGHAI, Nov 29 (Reuters) - China President Xi Jinping visited Shanghai, where he went to several venues and learned about the city's efforts to strengthen its competitiveness as an international financial centre, Xinhua news agency reported on Wednesday. Xi made the trip on Tuesday and Wednesday and he inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community, the report said. Vice Premier He Lifeng, Shanghai's Communist party secretary Chen Jining and Mayor Gong Zheng also accompanied his visit. It was his first visit to the city since November 2020 and comes a year after historic street protests against China's zero-COVID policy broke out in Shanghai.
Persons: Xi Jinping, Kevin Lamarque, Xi, Cai Qi, Chen Jining, Gong Zheng, Xi's, Premier Li Qiang, Brenda Goh, Bernard Orr, Ella Cao, Ethan Wang, Mark Potter, Louise Heavens, Chizu Nomiyama, Mark Porter Organizations: Economic Cooperation, REUTERS, Rights, Shanghai Futures Exchange, Communist Party of China Central Committee, CPC, Communist, Shanghai Free, Trade, Disney, L'Oreal, Premier, Thomson Locations: Asia, San Francisco , California, U.S, China, Shanghai, Xinhua, Minhang
The dollar index , which measures its value against six major currencies, fell as far as 102.89, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance since November 2022. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. In other currencies, the euro rose to a 3-1/2-month peak of $1.0985 . The dollar fell 0.2% to 148.33 yen , with the Japanese currency continuing its recovery from the brink of 152 per dollar earlier in the month.
Persons: Dado Ruvic, Sterling, Karl Schamotta, underscoring, Gertrude Chavez, Dreyfuss, Alun John, Brigid Riley, Ed Osmond, Mark Potter, Kevin Liffey Organizations: REUTERS, U.S, Federal Reserve, Board, Federal Housing Finance Agency, Traders, Australian, New Zealand, Reserve Bank of New, Thomson Locations: Swiss, U.S, Toronto, OPEC, Reserve Bank of New Zealand, New York, London, Tokyo
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO/LONDON, Nov 28 (Reuters) - The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data. The dollar index , a measure of the greenback against six major currencies, was last at 103.17, a whisker above the 103.07 it touched in Asia trade, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance in a year. The Japanese yen was a touch firmer at 148.45 per dollar , continuing its recovery from the brink of 152 per dollar earlier in the month as the dollar weakened. The Swiss franc was at 0.8810 per dollar, steady on the day, also around its firmest since the start of September, and the Australian dollar briefly touched a near four-month high of $0.6632.
Persons: Dado Ruvic, Simon Harvey, Brigid Riley, Alun John, Ed Osmond, Mark Potter Organizations: REUTERS, Rights, U.S, greenback . U.S, Fed, Reuters, Swiss, Australian, Reserve Bank of New, Thomson Locations: LONDON, steadying, U.S, Asia, OPEC, Reserve Bank of New Zealand
LONDON, Nov 28 (Reuters) - An influential committee of European Union lawmakers voted on Tuesday in favour of a draft law aimed at shifting clearing of euro-denominated derivatives from a post-Brexit London to the bloc. Long a Brexit battleground between London and Brussels, the EU wants better oversight of clearing in euro denominated interest rate swaps bought by EU-based market participants, the bulk of which are cleared by the London Stock Exchange Group in the United Kingdom. EU securities regulator ESMA would also have to become the direct supervisor of clearers based in the EU. LSEG CEO David Schwimmer has said he is "optimistic" that clearing in London for EU customers would continue after that date. EU banks have warned that being cut off from global clearing pools in London would put them at a competitive disadvantage to international rivals.
Persons: Long, Danuta Huebner, David Schwimmer, Huw Jones, Mark Potter Organizations: European Union, EU, London Stock Exchange Group, Deutsche Boerse, European, Thomson Locations: London, Brussels, United Kingdom, EU, Frankfurt, Madrid
Analysts expect Temu, launched in September last year, to generate more than $16 billion in revenue this year. Chinese retail sales in September rose 5.5%, following 4.6% growth in August. PDD's revenue was 68.84 billion yuan ($9.62 billion) in the quarter ended Sept. 30, compared with analysts' average estimate of 54.59 billion yuan, according to LSEG data. The company's net income attributable to ordinary shareholders rose to 15.54 billion yuan in the third quarter, from 10.59 billion yuan a year earlier. ($1 = 7.1532 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru and Casey Hall in Shanghai; Editing by Shilpi Majumdar and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Temu, Xiaoyan Wang, Chavi Mehta, Shilpi Majumdar, Mark Potter Organizations: PDD Holdings, Pinduoduo, East, Alibaba, HK, Casey Hall, Thomson Locations: China, United States, Europe, East Asia, Australia, Bengaluru, Shanghai
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