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JECFA, the WHO committee on additives, is also reviewing aspartame use this year. The first group includes substances from processed meat to asbestos, which all have convincing evidence showing they cause cancer, IARC says. Like aspartame, this means there is either limited evidence they can cause cancer in humans, sufficient evidence in animals, or strong evidence about the characteristics. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, only to remove it again in 2020. Listing aspartame as a possible carcinogen is intended to motivate more research, said the sources close to the IARC, which will help agencies, consumers and manufacturers draw firmer conclusions.

Persons: Coke, Shannon Stapleton, Health Organization's, JECFA, Nozomi Tomita, Zsuzsanna, Germany’s Bayer, IARC, Frances Hunt, Wood, Mars Wrigley, Kate Loatman, –, Jennifer Rigby, Richa Naidu, Michele Gershberg, Mark Potter, Susan Fenton Organizations: REUTERS, International Agency for Research, Cancer, Health, Reuters, Joint WHO, Food, Agriculture Organization's, WHO, Japan's Ministry of Health, Labour, Welfare, Food Safety Authority, U.S, International, Association, Cargill, International Council of Beverages Associations, Ramazzini Institute, EFSA, Pepsico, Thomson Locations: New York City, U.S, United States, Europe, Geneva, France, Italy, sodas

PARIS, June 29 (Reuters) - French minerals group Imerys (IMTP.PA) on Thursday announced plans to mine lithium in the UK and said the site could supply two-thirds of batteries for Britain's electric vehicles by 2030. Imerys aims to produce around 20,0000 tonnes a year of lithium carbonate equivalent by the end of the decade at its mining site in Cornwall, southwest England, in partnership with British Lithium. Imerys' UK development, and its previously announced plan to mine the metal in central France, would reduce Europe's current reliance on imported lithium for batteries, CEO Alessandro Dazza said. In its UK partnership, Imerys has taken an 80% stake and will draw on British Lithium's processing technology and existing pilot for battery-grade lithium, the French group said. In the search for battery minerals, traditional energy companies, including Exxon Mobil (XOM.N), are also looking at emerging technologies to boost lithium supply.

Persons: Imerys, Alessandro Dazza, Kemi Badenoch, Dazza, Gus Trompiz, Clara Denina, Benoit Van Overstraeten, Jason Neely, Sonali Paul, Susan Fenton Organizations: Global, Exxon Mobil, Thomson Locations: Cornwall, England, British, France, Europe, Argentina, Bolivia, Chile, Britain, Imerys, Paris, London

☆ Asia lobby group pushes for easing of China's offshore listing rules
▼ + stars: | 2023-06-27 | by ( Selena Li | ) www.reuters.com time to read: +3 min

HONG KONG, June 27 (Reuters) - China's new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and avoid breaching tightened confidentiality rules, Asia's largest financial lobby group said on Tuesday. China's long-awaited rules for offshore stock exchange listings came into effect on March 31 as part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. Chao said the concept of such papers is vaguely defined, and also gave rise to disputes among investment banks and law firms over which side was primarily responsible for storing the documents. It's not good for Chinese companies who need to seek capital from the world," Chao said. The slowing Chinese economy, dimming offshore fundraising prospects, and heightened geopolitical tensions have prompted Wall Street and European banks to layoff investment bankers working on China deals in the last few months.

Persons: China's, Lyndon Chao, ASIFMA, Chao, Goldman Sachs, It's, Hong, Wall, Selena Li, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Susan Fenton, Himani Organizations: China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, JPMorgan, UBS, Thomson Locations: HONG KONG, Beijing, New York, Hong Kong, China

☆ Stellantis aims to relieve 'charging anxiety' with new service for EV users
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

"We look forward to discussing more of that soon," Ricardo Stamatti, senior vice president of the new Charging & Energy Business Unit, said. "The margin on energy (used for charging points) itself is fairly rich," he said. "But ultimately charging is going to be more than energy, it's going to be about what people do while charging (...), think of advertising, retail, media consumption". The Free2move Charge "ecosystem" will offer other services for private customers of Stellantis brands including support for home charging facility installation, and for businesses. It will also allow access to a network of public charging points "through partners" in North America, Europe, and other regions to be announced later, Stellantis said.

Persons: Ricardo Stamatti, Stellantis, Ram, Stamatti, Giulio Piovaccari, Keith Weir, Susan Fenton Organizations: Energy, Ford, General Motors, Energy Business Unit, Jeep, Peugeot, Fiat, Opel, Investments, Thomson Locations: Europe, MILAN, North America

Nigerian President Bola Tinubu is embarking on the country's biggest reforms in decades, including scrapping the popular but expensive petrol subsidy and unifying the country's multiple exchange rates. World Bank lead economist for Nigeria Alex Sienaert said during a presentation in the capital Abuja that savings from the reforms did not amount to a fiscal windfall. The World Bank and International Monetary Fund had for years called on Nigeria to remove the petrol subsidy, which cost $10 billion last year, and free its exchange rate. To deepen foreign exchange reforms, Siernaet said Nigeria should remove restrictions on a list of 43 items, including sugar and flour, that the central bank says cannot be funded from official dollar sales. Nigeria has the second-largest population of poor people in the world and is one of the least developed countries globally, the World Bank says.

Persons: Bola Tinubu, Nigeria Alex Sienaert, Sienaert, Siernaet, Wale Edun, Chijioke Ohuocha, Elisha Baba, MacDonald Dzirutwe, Christina Fincher, Susan Fenton Organizations: World Bank, Bank, International Monetary Fund, Labour, Thomson Locations: ABUJA, Nigeria, Nigerian, Abuja

☆ Euro zone business growth stalls in June -flash PMI
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 23 (Reuters) - Euro zone business growth virtually stalled this month as the downturn in manufacturing deepened while activity in the bloc's dominant services industry barely expanded, a survey showed on Friday. HCOB's flash Composite Purchasing Managers' Index (PMI) for the bloc, compiled by S&P Global and seen as a good gauge of overall economic health, sank to a five-month low of 50.3 in June from May's 52.8. That was barely above the 50 mark separating growth from contraction and below all forecasts in a Reuters poll which had predicted a more modest decline to 52.5. An index measuring output, which feeds into the composite PMI, fell to 44.6 from 46.4. Last week the ECB raised euro zone borrowing costs to their highest level in 22 years and said stubbornly high inflation all but guaranteed another move next month and likely beyond that too.

Persons: Cyrus de la Rubia, Jonathan Cable, Susan Fenton Organizations: P Global, May's, Hamburg Commercial Bank, PMI, Reuters, European Central Bank, ECB, Thomson Locations: Hamburg

The company has provided more than 132 gigawatts (GW) of wind turbines as of the end of April this year to all global regions: 108 GW of onshore wind and 22 GW of offshore wind. The discovery of faulty components at Siemens Gamesa's onshore wind turbines had already caused a charge of nearly half a billion euros in January. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide. Shares in European wind turbine producers Nordex (NDXG.DE) and Vestas (VWS.CO) also fell as confidence in the industry was shaken. Many wind power developers have already seen delays in projects due to the availability of components and rising costs.

Persons: Siemens Gamesa, Spain's, Denmark's, Nina Chestney, Christoph Steitz, Susan Fenton Organizations: Siemens Energy, Siemens, SIEMENS, WHO, Scottish Power Renewables, East Anglia, Poland's PGE, Siemens AG, Thomson Locations: Spain, Europe, Americas, Britain, North, Baltica, Baltic

☆ Factbox: EU targets sanctions circumvention with 11th package against Russia
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

- The EU is banning the transit of certain sensitive goods like advanced technology or aviation-related materials, exported from the EU to third countries, via Russia. - Some companies, unable to sell sanctioned goods to Russia, sold Moscow the production rights to these goods so that Russia can produce them locally. The EU has now banned the sale, licensing, transfer or referral of intellectual property rights to Russia for the manufacture of sanctioned goods outside the EU. ENERGY MEASURES- The EU package ends the possibility of importing Russian oil by pipeline to Germany and Poland. OTHER- The EU extends a ban on Russian media broadcasting in the EU to five additional channels.

Persons: Jan Strupczewski, Susan Fenton Organizations: European, Russia, EU, United Arab, Caspian Pipeline Consortium, Ukrainian, Thomson Locations: BRUSSELS, Ukraine, Russia, China, Uzbekistan, United Arab Emirates, Syria, Armenia, EU, Moscow, Russian, Germany, Poland, Japan

Siemens Energy CEO Christian Bruch said on Friday that the takeover of Siemens Gamesa had not been a mistake and that the price had seemed right at the time when the offer was made. 'SO MANY QUESTIONS'Top-20 investor Deka Investment said "significantly greater efforts" were now needed by Siemens Energy, chaired by Siemens veteran Joe Kaeser, to restore trust. Berenberg analysts pointed out that Siemens Energy had given a fairly upbeat view on Siemens Gamesa along with second-quarter results only a month ago, and that Thursday's announcement did not fit with the recent communication. Siemens Energy CEO Bruch also cited the need to fix Siemens Gamesa's corporate culture, hinting at the fact that the company's merger never fully worked and that major management mistakes were made. When asked earlier this month on whether Siemens Energy was doing well enough to master the challenges of the energy transition, Kaeser said the management team led by Bruch was strong.

Persons: Felix Schroeder, Schroeder, Christian Bruch, Siemens Gamesa, Jochen Eickholt, Spain's, Joe Kaeser, Bruch, Kaeser, Christoph Steitz, Christina Amann, Susan Fenton, Louise Heavens Organizations: Siemens Energy, Siemens, Siemens Gamesa, Union Investment, Deka Investment, Deutsche Bank, Thomson Locations: FRANKFURT, BERLIN, Bray, European

☆ UK economy stumbles but price pressures remain high
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 23 (Reuters) - Britain's economy showed signs of a slowdown this month but inflation pressures stayed high, according to a survey published a day after the Bank of England raised interest rates sharply and said it was ready to do more to tame price growth. The preliminary or 'flash' survey showed Britain's services sector grew at its slowest pace in three months while the manufacturing sector contracted by the most in six months. The BoE is expected to continue raising borrowing costs as it tries to tackle inflation which held at 8.7% in May. The PMI survey showed services firms increased their prices sharply once again this month although a bit less steeply than in May. By contrast, manufacturers cut the prices they charged for the first time in more than seven years.

Persons: Chris Williamson, BoE, Williamson, William Schomberg, Susan Fenton Organizations: Bank of England, P Global Market Intelligence, PMI, Companies, Thomson

FRANKFURT, June 22 (Reuters) - Deutsche Bank (DBKGn.DE) is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday. The plans at Germany's largest bank come as Claudio de Sanctis prepares to take over the retail unit, known as the private bank division, on July 1. Deutsche Bank, which declined to comment on any cuts to retail jobs, has publicly said that it is identifying further cost savings and would be trimming jobs in certain areas to keep profits growing. The bank has been expected to continue to cut branches to curb expenses, Reuters has previously reported. S&P last month upgraded its outlook for the bank and said that the retail division has "considerable scope" to cut costs.

Persons: Claudio de Sanctis, Tom Sims, Matthias Williams, Madeline Chambers, Susan Fenton Organizations: Deutsche Bank, Deutsche, Reuters, Thomson Locations: FRANKFURT, Germany's, Germany

☆ Zambia seals $6.3 billion debt restructuring deal
▼ + stars: | 2023-06-22 | by ( Leigh Thomas | ) www.reuters.com time to read: +3 min

"We have reached an agreement on the outline of a debt treatment, we've reached the end of the negotiation," the French official, who did not wish to be identified, told journalists. Zambia's public sector creditors agreed to reschedule $6.3 billion, including $1.3 billion in arrears, and private sector creditors are expected to do the same on the $6.8 billion owed to them, the official said. The restructuring agreement with official creditors paves the way for Zambia to receive another $188 million tranche of money from the International Monetary Fund, part of a $1.3 billion package approved in August 2022. The scale of the debt relief Zambia requires has been a concern for some of the country's main creditors. Of the $6.3 billion in debt owed to government bodies, $4.1 billion was owed specifically to Export-Import Bank of China, the French official said.

Persons: we've, Hakainde Hichilema, Emmanuel Macron's, Leigh Thomas, Susan Fenton Organizations: International Monetary Fund, Import Bank of China, Zambian, Group, Thomson Locations: Zambia, China, Beijing, France

☆ Zambia poised for debt restructuring deal
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 22 (Reuters) - A deal on Zambia's debt restructuring is expected to be announced later on Thursday at a Paris summit on easing poor countries' debt burdens, four sources familiar with the matter said. “There has been agreement by creditors on the debt restructuring," one of the sources said. The head of the Paris Club of creditor nations Emmanuel Moulin said on Wednesday that Zambia's creditors were close to being able to propose the terms of a debt restructuring deal at the summit. "On debt restructuring, today we will talk about Zambia which I think is a great case of celebration," IMF Managing Director Kristalina Georgieva told a panel at the summit. Zambia is seen as a test case for a 2020 G20 common framework for restructuring poor countries' debt, which has faced much criticism for being two slow.

Persons: Emmanuel Moulin, Kristalina Georgieva, Akinwumi Adesina, Chad, Leigh Thomas, Elizabeth Pineau, Chris Mfula, Susan Fenton Organizations: Paris Club, China, IMF, Development Bank, Thomson Locations: Paris, Zambia, Ethiopia, Ghana, Lusaka

☆ Shares of UK online supermarket Ocado soar on talk of Amazon bid interest
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 22 (Reuters) - Ocado Group (OCDO.L) shares surged by over 40% on Thursday after The Times newspaper reported speculation of possible bid interest in the online supermarket and technology group recently squeezed by a cost of living crisis in the UK. The Times noted there was talk of bid interest from more than one U.S. suitor including tech heavyweight Amazon (AMZN.O), pondering the merits of an offer worth 800 pence per share. Ocado declined to comment on either the stock's rise or the Times report. An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. Shares in Ocado rose as much as 46.7% and were briefly on track for their biggest one-day jump on record.

Persons: AJ Bell, Danni Hewson, Toby Melville, Ocado's, Ocado, Spencer, Danilo Masoni, James Davey, Muvija, Mike Holden, Susan Fenton Organizations: Ocado, The Times, Times, Amazon, REUTERS, Jefferies, Marks, Thomson Locations: U.S, London, Britain

☆ Stocks fall, U.S. dollar up as investors assess U.S. rate outlook
▼ + stars: | 2023-06-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Investors also were digesting China's move to cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday. Among Beijing's moves to stimulate the country's slowing recovery, the People's Bank of China lowered the medium-term lending facility rate on Thursday. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. Against a basket of six major currencies, the dollar was up 0.22% on the day, with the euro down 0.14% to $ 1.0907 . The Australian dollar fell after its latest central bank meeting minutes showed that keeping interest rates unchanged had been under consideration.

Persons: Dow, Brendan McDermid, Jerome Powell, Powell, Joe Manimbo, Brent, Caroline Valetkevitch, Saqib Iqbal Ahmed, Joice Alves, Selena Li, Anisha, Susan Fenton, Jason Neely, Richard Chang Organizations: Treasury, People's Bank of, Federal Reserve, Dow Jones, Nasdaq, Traders, New York Stock Exchange, REUTERS, . House, Representatives, Financial Affairs, Thomson Locations: U.S, People's Bank of China, New York City, China . U.S, New York, London, Hong Kong, Bengaluru

☆ China's modest rate cut sends stocks lower
▼ + stars: | 2023-06-20 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

LONDON, June 20 (Reuters) - European stocks and U.S. futures fell on Tuesday after China cut interest rates by less than expected and the market awaited more detail on Beijing's plans to shore up a stuttering economic recovery. The People's Bank of China lowered the medium-term lending facility rate on Thursday last week. "The meeting helped improve sentiment, but the market also understands that there's strategic competition between the U.S. and China," said Redmond Wong, Greater China market strategist at Saxo Markets. A central banker on Tuesday also hinted there was room for policy adjustment from the current path of aggressive rate hikes. Gold edged up 0.1% to $1,951.74 as the dollar index eased at 102.45 but lacked clear momentum as traders awaited U.S. Federal Reserve Chair Jerome Powell's testimony later this week for more direction on the interest rate path.

Persons: Susannah Streeter, Hargreaves Lansdown, Xi, Rodrigo Catril, Issei Kato, Antony Blinken's, Redmond Wong, Jerome Powell's, Brent, Joice Alves, Selena Li, Anisha, Susan Fenton, Jason Neely Organizations: Hargreaves, People's Bank of, National Australia Bank, REUTERS, Citi, U.S, Saxo Markets, Reserve Bank, Australia's, Bank of England, Federal, Thomson Locations: China, Asia, U.S, Beijing, People's Bank of China, Tokyo, Japan, United States, Greater China, German, London, Hong Kong, Bengaluru

China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point reduction in the five-year LPR. China's benchmark CSI (.CSI300) slipped 0.17%, with the real estate index (.CSI931775) falling 1.9%, its biggest daily decline in a month. "I don't think they (the LPR cuts) are going to move the needle at all," said Redmond Wong, Greater China market strategist at Saxo Markets. He said a 15 basis-point cut would have sent a "stronger message" that could boost sentiment in China's property sector. The People's Bank of China lowered the medium-term lending facility rate on Thursday last week.

Persons: Redmond Wong, Xi, Rodrigo Catril, Antony Blinken's, Saxo's Wong, Brent, Selena Li, Joice Alves, Anisha Sircar, Susan Fenton Organizations: CSI, Saxo Markets, People's Bank of, National Australia Bank Senior, Citi, U.S, Reserve Bank, Australia's, Bank of England, Thomson Locations: HONG KONG, China, Asia, Pacific, Japan, Greater China, Beijing, People's Bank of China, United States, Hong Kong, London

☆ Morning Bid: US housing rebound, China prime cuts
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +4 min

The main macroeconomic news overnight was a rather underwhelming Chinese rate cut that seemed to disappoint the local stock and currency markets, both of which fell. The People's Bank of China cut two benchmark lending rates - its one-year and five-year loan prime rates - by 10 basis points each. With Goldman Sachs on Monday the latest to cut China growth forecasts for this year and next, nerves about the economy's trajectory are rising again. The big U.S. data input this week is from the housing sector, where signs of some recovery are reinforcing 'soft landing' hopes for the wider economy. On Monday, the NAHB's house market sentiment index rose in June to its highest in almost a year and far above forecasts.

Persons: Mike Dolan, Goldman Sachs, Xi Jinping, Antony Blinken, Joe Biden, what's, BOE, Jerome Powell, Michael Barr, John Williams, St Louis, James Bullard, Narendra Modi, Susan Fenton Organizations: Nasdaq, People's Bank of China, Washington, China's, of, Global, Bank of, Federal Reserve, FedEx, Philadelphia Fed, Federal, New York Fed, St, St Louis Fed, Indian, United States Reuters Graphics Reuters, Thomson Locations: U.S, China, Xi, Europe, Britain, Switzerland, Norway, Turkey, Bank, Bank of England, United

☆ Goldman Sachs Asset Management head of healthcare investing to leave
▼ + stars: | 2023-06-20 | by ( Saeed Azhar | ) www.reuters.com time to read: +1 min

NEW YORK, June 20 (Reuters) - The head of healthcare investing at Goldman Sachs Asset Management (GS.N), Jo Natauri, will leave the company at the end of the year to pursue other opportunities in the sector. "We're entering a pretty attractive period for healthcare private investing, which I think could be pretty interesting to explore," Natauri told Reuters, without giving details about her next move. Goldman Sachs Asset Management (GSAM) has invested $5 billion in healthcare assets over the last five years, she said. Natauri, who will step down from Goldman Sachs Group's elite partner ranks, spent 17 years at the U.S. banking group. "She's poised for success, and I'll be rooting for her," Goldman Sachs CEO David Solomon said in a statement.

Persons: Jo Natauri, Natauri, Goldman, Goldman Sachs, She's, David Solomon, Nicole Agnew, Jeff Bernstein, Adam Dawson, Saeed Azhar, Lananh Nguyen, Susan Fenton Organizations: YORK, Goldman Sachs Asset Management, Reuters, Asset Management, Thomson

☆ Portugal to swap $153 million Cape Verde debt for nature investments
▼ + stars: | 2023-06-20 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, June 20 (Reuters) - Portugal plans to swap the entire 140 million euro ($152.91 million) debt it is owed by Cape Verde for investments in the archipelago's environmental and climate fund, Prime Minister Antonio Costa said on Tuesday. The two countries had already agreed in January to swap 12 million euros of debt repayments scheduled until 2025 and then assess the effectiveness of this mechanism in concrete projects. "We are sure the assessment we will make in 2025 will be positive and that we will be able to extend this mechanism to all 140 million euros of debt throughout its maturity," Costa said. Cape Verde's Silva said the investments will increase the country's resilience and achieve sustainable development goals. Cape Verde is 80% dependent on imported fossil fuel energy, which has risen sharply in price following Russia's invasion of Ukraine in 2022.

Persons: Antonio Costa, Costa, Ulisses Correia e Silva, Cape Verde's Silva, Sergio Goncalves, Inti Landauro, Susan Fenton Organizations: Cape Verde's, Thomson Locations: LISBON, Portugal, Cape Verde, Lisbon, Cape, Africa, Portuguese, Ukraine

PARIS, June 19 (Reuters) - Ukraine is in negotiations with Western arms manufacturers to boost production of weapons, including drones, and could sign contracts in coming months, a Ukrainian minister told Reuters. Since Russia's invasion of Ukraine last year Ukraine has been scrambling to secure weapons ranging from munitions to rocket launchers to missiles. "That's why we think international partners coming to Ukraine, setting up production and making Ukraine part of the security framework for the free world is so essential." And some of the companies say that they are willing to come and invest and produce drones," he said. But Boyev is hopeful that the country can attract foreign drone makers and said the Ukraine government could offer substantial support.

Persons: Sergiy Boyev, Boyev, Volodomyr Zelenskiy, dronemakers, Baykar, Joanna Plucinska, Valerie Insinna, Olena Harmash, Susan Fenton Organizations: Strategic Industries, Kyiv, Reuters, Ukraine's, British, BAE Systems, Paris, Thomson Locations: Ukraine, Western, Ukrainian, United States, Germany, Britain, Italy, France, Europe, Paris, Kyiv, Turkish, Russia, Moscow, Turkey, Norway, European

The Chinese e-commerce giant saw sales rise 6-8% over the 618 festival period that ran from late May through to Sunday evening, according to a client note from Citi analysts. The festival, named after the founding date of JD.com but embraced by all e-commerce platforms, is a key barometer of Chinese consumer spending. JD.com has said it will not release its GMV for the festival period this year, only noting that sales hit a record - a milestone which was expected. Alibaba has also stopped releasing GMV figures for the so-called Singles Day shopping festival period in November in the face of slowing sales. Goldman Sachs analysts said in a client note that JD.com sales during 618 "slightly" exceeded expectations, while Jefferies analysts said the event "surpassed expectations and set new records."

Persons: brokerages, Syntun, Alibaba, JD.com, Goldman Sachs, Jefferies, Casey, Sophie Yu, Edwina Gibbs, Susan Fenton Organizations: HK, Citi, Alibaba, PDD Holdings, Casey Hall, Thomson Locations: SHANGHAI, Shanghai, Beijing

☆ Sterling hits 10-month high against euro ahead of inflation data and BoE
▼ + stars: | 2023-06-19 | by ( Harry Robertson | ) www.reuters.com time to read: +2 min

LONDON, June 19 (Reuters) - The pound hit a 10-month high versus the euro on Monday as investors waited for British inflation data and a Bank of England decision later in the week. The pound was down 0.13% against the dollar at $1.281, not far below the 14-month high of $1.285 touched on Friday. Goldman Sachs said that, according to its trade-weighted measure of sterling, the pound is at its highest since mid-2016, just after the Brexit referendum. Reuters GraphicsThe latest British inflation data is due out on Wednesday. According to pricing in derivatives markets, traders expect rates to peak at around 5.8% in early 2024 as the BoE battles inflation.

Persons: Sterling, Goldman Sachs, Pushkar Jha, BoE, Harry Robertson, Susan Fenton Organizations: Bank of England, Goldman, " Bank of America, Barclays, Reuters, Thomson Locations: Britain, United States, Europe

☆ Britain's M&S the latest supermarket to cut prices
▼ + stars: | 2023-06-19 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies M&S cuts prices of 70 products, holds prices of 150Morrisons cuts prices of 47 productsMoves follow other reductions across sectorBank of England keeping close eye on food inflationLONDON, June 19 (Reuters) - Marks & Spencer (MKS.L) on Monday became the latest supermarket group in Britain to cut food prices, adding to signs that a surge in inflation is set to abate. M&S cut the price of 70 staple products, such as beef mince, Greek style yoghurt, salmon fillets, chickpeas and tortilla wraps, by between 3% and 25%. Also on Monday, Morrisons, Britain's fifth largest supermarket group, said it was cutting the prices of 47 products by an average of over 25%. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Spencer, Rishi Sunak's, Kantar, James Davey, Kylie MacLellan, Susan Fenton Organizations: Bank of England, Morrisons, Tesco, Asda, Waitrose, Thomson Locations: Britain

☆ Pirelli CEO 'confident' Rome will act to curb Chinese influence over tyremaker
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, June 15 (Reuters) - Pirelli's CEO (PIRC.MI) said in a recent private meeting that he is "very confident" Rome will use its Golden Power to curb Chinese influence over the Italian tyremaker, deemed a strategic asset, a person with knowledge of the matter said. Italy's right-wing government led by Giorgia Meloni is assessing a new governance agreement at Pirelli between its largest shareholder, China's Sinochem (600500.SS), and fellow investor Camfin, the vehicle of Pirelli CEO Marco Tronchetti Provera. The source said that Tronchetti Provera had expressed confidence at a recent meeting that the situation would be resolved positively. Tronchetti Provera had previously warned Rome, in a hearing with government officials, that the tyremaker's independence is at stake because of Sinochem's growing grip, the Wall Street Journal has reported. A spokesperson for the Pirelli CEO said Tronchetti Provera had no information to enable him to make - and he has not made - any predictions as to what decisions the government might take.

Persons: Giorgia Meloni, China's Sinochem, Camfin, Marco Tronchetti Provera, Tronchetti Provera, Sinochem, Giorgio Bruno, Giorgio Bruno ', Andrea Bruno, Giulio Piovaccari, Giuseppe Fonte, Susan Fenton Organizations: MILAN, Pirelli, Reuters, Wall Street, Camfin, Thomson Locations: Rome, Italy

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