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☆ European markets head for mixed open as France's uncertain political outlook weighs on sentiment
▼ + stars: | 2024-07-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

People gather to celebrate the victory of the left-wing union after the partial results of the second round of the French parliamentary elections in Paris, France on July 07, 2024. LONDON — European stocks are expected to open in mixed territory Tuesday as investors in the region weigh up political uncertainty in France after Sunday's election result. European markets are digesting the prospect of a prolonged period of political uncertainty in France as it confronts a hung parliament following Sunday's parliamentary election result. The left-wing New Popular Front won the largest number of seats in the final round of voting, scuppering an expected surge for the far-right. The alliance failed to secure an absolute majority, however, meaning a coalition or technocratic government is on the cards, making legislation and reforms harder to pass.

Persons: Germany's DAX, scuppering Organizations: LONDON, CAC, IG, Popular Front Locations: Paris, France

☆ European stocks seen slipping as traders digest French election result
▼ + stars: | 2024-07-08 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

LONDON — European stocks were set to fall at the open on Monday as markets reacted to an expected hung parliament in France after a surprise win for a left-wing coalition of parties. France's CAC 40 was seen falling 37.9 points to 7,631, according to IG, and the euro was down 0.18% against the dollar. The U.K.'s FTSE 100 index and Germany's DAX are both expected to fall around 6 points, while Italy's FTSE MIB is expected to slip 115 points at the open. European marketsFrance's left-wing New Popular Front won the largest number of seats in this weekend's parliamentary elections, scuppering an expected surge for the far-right. However, the coalition failed to secure an absolute majority, early data showed, leaving markets digesting the possibility of a hung parliament.

Persons: Germany's DAX, France's, scuppering, Jim Reid, Nathan Posner Organizations: CAC, IG, Popular Front, Deutsche Bank, New, Republique, Anadolu, Getty Locations: France, Paris, France's

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Ukraine just carried out the same kind of strike on Russia's navy that Elon Musk blocked, believing it could start a nuclear war
▼ + stars: | 2023-09-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

It's the same kind of strike Elon Musk sabotaged in 2022, fearing it'd cause nuclear war. What's been notably absent in the wake of Tuesday's strike is any sign of the massive escalation from Russia that Musk said he acted to prevent. AdvertisementAdvertisementAntonov, Isaacson writes, persuaded Musk that an attack on Sevastopol would trigger a nuclear response from Russia under the state's military doctrine. Russian President Vladimir Putin and top Kremlin officials have repeatedly menaced Ukraine and the West with the prospect of a nuclear attack. Yet Ukraine has continued to attack the territory, and even seized some of it back from Russia, without triggering the nuclear response Putin threatened.

Persons: Elon Musk, Elon, Walter Isaacson's, Musk, What's, Isaacson, Anatoly Antonov, it's, Anne Appelbaum, Vladimir Putin, Putin, Nicholas Grossman Organizations: Russian, Service, SpaceX, Russia, Kremlin, University of Illinois Locations: Ukraine, Crimea, Russian, Wall, Silicon, Ukrainian, Russia, Sevastopol, The Atlantic

☆ Xi to skip G20 summit in India, China to send Li instead
▼ + stars: | 2023-09-04 | by ( ) www.cnbc.com time to read: +2 min

Xi Jinping, China's president, on the closing day of the BRICS summit at the Sandton Convention Center in the Sandton district of Johannesburg, South Africa, on Thursday, Aug. 24, 2023. Premier Li Qiang will lead China's delegation at a G20 summit in New Delhi this weekend, China's foreign ministry said on Monday, indicating President Xi Jinping would not attend and scuppering chances of a meeting with U.S. President Joe Biden there. Reuters reported exclusively last month that Xi was likely to skip the meeting and send Li. Xi last met Biden on the sidelines of a G20 summit in Indonesia in November. The other G20 leaders attending include German Chancellor Olaf Scholz, French President Emmanuel Macron and Japanese Prime Minister Fumio Kishida.

Persons: Xi Jinping, Premier Li Qiang, Joe Biden, Xi, Biden, Mao Ning, Mao, Li, Vladimir Putin, Olaf Scholz, Emmanuel Macron, Fumio Kishida Organizations: Premier, U.S, Reuters, Criminal Court Locations: Sandton, Johannesburg, South Africa, New Delhi, China, Indonesia, Germany, Europe's, Ukraine, Russia

☆ G20 New Delhi summit 2023: Which countries and leaders will attend?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +5 min

A paramilitary soldier stands guard outside Le Meridien hotel during a rehearsal ahead of the G20 Summit in New Delhi, India, September 2, 2023. BRITISH PRIME MINISTER RISHI SUNAKSunak is expected attend the summit on his first official trip to India as Britain's prime minister. GERMAN CHANCELLOR OLAF SCHOLZScholz has said the upcoming G20 summit in India remains important despite the absence of Russia and China. SOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSARamaphosa has expressed full support for India's G20 presidency while conveying his intent to attend the summit. BANGLADESH PRIME MINISTER SHEIKH HASINABangladesh Prime Minister Sheikh Hasina is likely to attend the G20 summit in New Delhi, according to Indian media reports.

Persons: Le, Adnan Abidi, JOE BIDEN Biden, Biden, XI, Li Qiang, Xi Jinping, Xi, VLADIMIR PUTIN, Sergei Lavrov, Vladimir Putin, Putin, JUSTIN TRUDEAU Trudeau, Ukraine's Volodymyr Zelenskiy, Zelenskiy, RISHI SUNAK Sunak, KISHIDA, ANTHONY ALBANESE, YOON SUK, YEOL Yoon, OLAF SCHOLZ Scholz, EMMANUEL MACRON, Modi, SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMAN, CYRIL RAMAPHOSA Ramaphosa, TAYYIP ERDOGAN, ALBERTO FERNANDEZ Fernandez, BOLA TINUBU Tinubu, LUIZ INACIO LULA DA SILVA, URSULA VON DER, CHARLES MICHEL The, SHEIKH HASINA, Sheikh Hasina, ANDRES MANUEL LOPEZ OBRADOR, JOKO, Aftab Ahmed, Shivangi, Nick Macfie Organizations: REUTERS, Criminal Court, ICC, BRITISH, AUSTRALIAN, SOUTH, Associated Press, SAUDI ARABIA'S CROWN, African Union, NIGERIA'S, LUIZ INACIO LULA DA SILVA Brazil, OF, EUROPEAN, CHARLES MICHEL The European Union, BANGLADESH, Thomson Locations: Le Meridien, New Delhi, India, DELHI, India's, Ukraine, U.S, RUSSIAN, Russia, South Africa, Africa, Indonesia, Philippines, China, Saudi, SHEIKH HASINA Bangladesh, Bangladesh, MELONI Italy

☆ Ecuadorean votes could bar oil output in Amazon reserve, mining near Quito
▼ + stars: | 2023-07-31 | by ( Alexandra Valencia | ) www.reuters.com time to read: +5 min

But oil and mining guilds say their industries are needed to shore up Ecuador's battered economy and that bans would expose the areas to illegal mining and deforestation. Outgoing President Guillermo Lasso, who moved ahead elections after lawmakers attempted to oust him, has failed to raise oil production or attract more mining investment as violence and social problems have worsened. A "yes" vote in both referendums could complicate finances for his successor. State oil company Petroecuador says a "yes" on the Yasuni referendum would cost the country $13.8 billion in income over the next two decades. But residents say mining will threaten high altitude wetlands, water and animals like the spectacled bear.

Persons: Read, Ecuadoreans, Guillermo Lasso, Santiago Pérez, Ramon Correa, Correa, Rafael Correa, Pedro Bermeo, Bermeo, Petroecuador, Australia's SolGold, Maria Eulalia Silva, Morelia Fuentes, Alexandra Valencia, Tito Correa, Karen Toro, Julia Symmes Cobb, Marguerita Choy Organizations: ITT, Environmental, Reuters, Voters, of Mining, Mining, Thomson Locations: Orellana, Orellana province, Ecuador, QUITO, Quito, Choco, North America, State, Pastaza

CNN —Russia said Monday it was suspending its participation in a crucial deal that allowed the export of Ukrainian grain, once again raising fears over global food supplies and scuppering a rare diplomatic breakthrough to emerge from Moscow’s war in Ukraine. Peskov left the door open to reviving the deal in the future, saying that Russia will comply “as soon as the Russian part (of the deal) is completed.”A ship carries grain from Ukraine last week. Mehmet Emin Caliskan/ReutersUS Secretary of State Antony Blinken last week accused Russia of using the grain deal “as a weapon.”The deal allowed Ukraine to export grain from its Black Sea ports and and navigate safe passage through the waterway to Turkey’s Bosphorus Strait. It proved vital for stabilizing global food prices and bringing relief to the developing countries which rely on Ukrainian exports. There are alternative routes for Ukrainian grain and oilseed exports by rail through eastern Europe, but they can’t readily cope with the volume that Ukraine wants to export.

Persons: Dmitry Peskov, “, Peskov, ”, Vladimir Putin, Mehmet Emin Caliskan, Antony Blinken, Ukraine’s Organizations: CNN, United Nations, ”, Reuters, Food Programme, European Commission, Agriculture Organization, FAO, UN Locations: Russia, Ukraine, Turkey, Istanbul, Kyiv, Moscow, ” Russia, Russian, Crimea, Sevastopol, Europe

☆ Jack Ma appears at an Alibaba event in China days after an executive says he's 'alive' and 'happy'
▼ + stars: | 2023-06-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Ma taught his first class at the University of Tokyo last week, per the South China Morning Post. Jack Ma has popped up at an Alibaba event, just a few days after its president described him as "alive" and "happy." Hong Kong's South China Morning Post reported he took his first class on June 12 at the institution. He's well, he's happy. He's teaching at a university in Tokyo, spending more time in China," he said, per CNBC.

Persons: Jack Ma, Ma, Michael Evans, Jack Organizations: Alibaba, Bloomberg, University of Tokyo, China Morning, Damo Academy, China Morning Post, CNBC Locations: Hangzhou, Thailand, Bangkok, Beijing, China, Tokyo

☆ Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A hedge fund manager was awarded $203 million in damages after being defamed by former neighbor Peter Nygard. Disgraced fashion mogul Nygard accused Louis Bacon of arson, insider trading and links to the KKK. The decade-long dispute began following a quarrel over a driveway Nygard and Bacon shared. A hedge fund billionaire has been awarded $203 million after a New York court ruled he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway. Lawyers told the court Bacon had spent more than $50 million in legal fees bringing several defamation cases against Nygard.

☆ China's latest IPO reform unlikely to flood markets with new issuance, bankers say
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +4 min

Under the new system, China's stock exchanges will themselves vet IPOs with a focus on information disclosure. The reform was hailed by state media and analysts as a key milestone that would make China's IPO market more inclusive, transparent and efficient. "Paternalism and politics continue to play a big role" in the new IPO system, he said. STAR SYSTEMThe registration-based IPO system was first adopted by Shanghai's STAR Market when the tech-focused board was launched in 2019. The new IPO system was later rolled out to the start-up board ChiNext, and the Beijing Stock Exchange.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

☆ Britain’s bond crisis reverses over the government: podcast
▼ + stars: | 2022-10-20 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

LONDON, Oct 20 (Reuters Breakingviews) - New finance minister Jeremy Hunt has scrapped most of his predecessor’s unfunded tax cuts, scuppering Prime Minister Liz Truss’s growth plan. In this Viewsroom podcast, Breakingviews columnists debate what the U-turn means for markets – and whether Truss can survive. Listen to the podcastFollow @aimeedonnellan on TwitterRegister now for FREE unlimited access to Reuters.com RegisterEditing by Thomas Shum and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Over the last decade, the rise of internet giants like Tencent (0700.HK) exposed the flimsiness of the stereotype. “Influence Empire: Inside the Story of Tencent and China’s Tech Ambition” by Lulu Yilun Chen tracks the company’s evolution into a $350 billion social media and gaming behemoth. The backlash also undermined confidence in China’s private tech sector. U.S. venture capital investment has dwindled, and even Chinese tech investors are now venturing abroad. Follow @ywchen1 on TwitterCONTEXT NEWS“Influence Empire: Inside the Story of Tencent and China’s Tech Ambition”, by Lulu Yilun Chen, was published by Hodder & Stoughton on July 14.

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