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REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Abbott Laboratories (ABT.N) said the market was overestimating the hit to sales of its glucose monitoring products from growing popularity of new diabetes drugs, adding the treatments could end up boosting sales of the medical device maker. The company's shares have dropped 16% this year, mainly on concerns that new GLP-1 diabetes drugs such as Novo Nordisk's Ozempic and Eli Lilly's Mounjaro could eat into the sales of its continuous glucose monitoring (CGM) devices. Hurdles in health insurance reimbursement and pricing could, however, keep market growth for GLP-1 drugs limited to a small number of patients in the near term, Abbott CEO Robert Ford said on Wednesday. Third-quarter sales of FreeStyle Libre, Abbott's CGM device used by diabetes patients, jumped 30.5% to $1.4 billion, lifting Abbott's shares 3% in morning trade. The numbers helped Abbott's medical device sales that stood at $4.25 billion, beating analysts' estimates of $4.16 billion, according to LSEG data.
Persons: Brendan McDermid, Nordisk's Ozempic, Eli Lilly's, Abbott, Robert Ford, Ford, Vijay Kumar, Pratik Jain, Leroy Leo, Anil D'Silva, Shounak Dasgupta, Shinjini Organizations: Abbott, New York Stock Exchange, REUTERS, Abbott Laboratories, Nordisk's, Thomson Locations: New York City, U.S, GLP, Bengaluru
Ford reshuffles top management as UAW strike drags on
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowOct 18 (Reuters) - Ford Motor Co (F.N) on Wednesday announced a management rejig, promoting combustion vehicle unit chief Kumar Galhotra to the position of chief operating officer, even as the ongoing autoworkers strike shows little signs of ending. Galhotra, who previously headed Ford Blue unit that makes gas and hybrid vehicles, will now lead the automaker's global industrial system. Ford also named Andrew Frick as the new head of Ford Blue. Frick previously managed Ford Blue's sales and distribution functions, trucks, SUVs and enthusiast vehicles, and operations in Mexico and Canada.
Persons: Wolfgang Rattay, Kumar Galhotra, Galhotra, Ford, Andrew Frick, Frick, Nathan Gomes, Krishna Chandra Organizations: REUTERS, Ford, Ford Motor, Wednesday, Ford Blue, United Auto Workers, Anderson Economic Group, UAW, Thomson Locations: Frankfurt, Germany, Mexico, Canada, East Lansing , Michigan, Ford's Kentucky, Bengaluru
Ford names Kumar Galhotra as Chief Operating Officer
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: 1 min
Healthcare & Pharmaceuticals category · October 18, 2023 · 8:00 AM UTCThe U.S. Food and Drug Administration (FDA) has approved Ardelyx's drug to treat high phosphate levels in patients with chronic kidney disease (CKD), the company said on Tuesday, more than two years after it was initially rejected.
Organizations: Pharmaceuticals, U.S . Food, Drug Administration Locations: U.S
A higher-for-longer interest rate environment could mean a "stalemate" for equities after their long upward march in 2023. However, history indicates that's unlikely to continue, according to Chen Zhao, chief global strategist at Alpine Macro. He expects stocks will trade sideways for some time as investors weigh competing narratives around a robust economy with the pressures of higher bond yields. Of course, stocks bounced back the following year when the Federal Reserve began to cut rates. … But at the same time, you have rising borrowing costs, rising discount factors that actually tamp down asset values."
Persons: Stocks, Chen Zhao, Zhao, Komal, Kumar, Marko Kolanovic Organizations: Federal Reserve, Kumar Global
Those concerns are battering airline stocks even as earnings reports point to a continuing consumer appetite for travel. While both United and Delta said travel demand is holding up, double-digit declines in airfares year-over-year suggest airline pricing power has peaked. United, which has not forecast profit for 2024, on Tuesday similarly said travel demand remains "strong and steady." New labor contracts as well as the higher fuel prices mean cost pressures aren't going away. American Airlines (AAL.O) and Alaska Air (ALK.N), who will report earnings Thursday, have cut their third-quarter profit estimates due to higher fuel costs.
Persons: Eduardo Munoz, Brian Mulberry, Delta, Ed Bastian, Mulberry, United, Michael Leskinen, Conor Cunningham, Rajesh Kumar Singh, Ben Klayman, Rod Nickel Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, NYSE, Zacks Investment Management, Delta Air Lines, United, Delta, New, American Airlines, Alaska Air, Melius, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, United, Israel, Tel Aviv
[1/2] The One World trace Center and the New York skyline are seen while United Airlines planes use the tarmac at Newark Liberty International Airport in Newark, New Jersey, U.S., May 12, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsCHICAGO, Oct 17 (Reuters) - United Airlines Holdings (UAL.O) on Tuesday reported stronger-than-expected third-quarter earnings, but forecast weaker profit in the current quarter due to higher costs. For the third quarter, it reported an adjusted profit of $3.65 per share, compared with the $3.35 estimated by Wall Street analysts. United has said its fuel costs have climbed over 20% since mid-July. United will discuss the results on a call with analysts and investors on Wednesday morning.
Persons: Eduardo Munoz, Rajesh Kumar Singh, Richard Chang Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, United Airlines Holdings, Wall Street, Delta Air Lines, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, Israel
Thermo Fisher Scientific to buy Olink in $3.1 billion deal
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +2 min
A company flag flies outside the offices of Thermo Fisher Scientific offices in Waltham, Massachusetts, U.S., August 2, 2023. The deal lifted Olink's U.S.-listed shares nearly 67% in early trading, while shares of Thermo Fisher were down over 1%. Olink's acquisition will help Thermo Fisher's customers in the biotech industry "to meaningfully accelerate discovery and scientific breakthroughs," Thermo Fisher CEO Marc Casper said. Thermo Fisher said it would pay Olink shareholders $26 per share, an about 74% premium to the U.S.-listed stock's closing price on Monday. The deal is a good fit for Thermo Fisher and "checks the box strategically," Evercore ISI analyst Vijay Kumar wrote in a note.
Persons: Brian Snyder, Fisher, Marc Casper, Vijay Kumar, Mariam Sunny, Krishna Chandra Eluri, Shilpi Majumdar Organizations: REUTERS, Olink, U.S, Thomson Locations: Waltham , Massachusetts, U.S, Sweden, Bengaluru
REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Oct 17 (Reuters) - Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. Rising wheat prices could contribute to food inflation. Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. "Festival season demand is driving up wheat prices. As of Oct. 1, wheat stocks in government warehouses stood at 24 million metric tons, sharply down compared with a five-year average of 37.6 million tons.
Persons: Amit Dave, Pramod Kumar S, Sanjeev Chopra, Ashwini Bansod, Bansod, Rajendra Jadhav, Robert Birsel Organizations: Agriculture, REUTERS, Rights, Federation, Phillip Capital India, Ltd ., El, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Ltd . India, Mumbai
REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsCHICAGO, Oct 17 (Reuters) - United Airlines Holdings (UAL.O) on Tuesday forecast weaker fourth-quarter earnings due to higher costs, sending its shares down more than 4%. United has said its fuel costs have climbed over 20% since mid-July. The company's average fuel bill is projected to increase by 11% in the quarter through December from the last quarter. In the December quarter, Israel accounted for 1.9% of its planned global capacity, a Reuters analysis of Cirium data showed. Adjusted profit for the third quarter came in at $3.65 per share, higher than the $3.35 estimated by Wall Street analysts.
Persons: Eduardo Munoz, Rajesh Kumar Singh, Richard Chang Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Rights, United Airlines Holdings, U.S, Delta Air Lines, Wall Street, Thomson Locations: York, Newark , New Jersey, U.S, Chicago, Israel, Tel Aviv
After a long period of scepticism towards European equities, some investors and analysts are finding cause for optimism. European companies are expected to enter their first earnings recession - two consecutive quarters of falling earnings - since 2020. But European stocks are better priced for a recession than their U.S. counterparts, said Matthew McLennan, co-head of First Eagle’s Global Value team. First Eagle's McLennan said the weaker euro in part supported the outlook for European equities. "There's some possibility that European equities, by both their valuation and their currency valuation, could do better than U.S. equities over a period of time".
Persons: Jefferies, Mohit Kumar, LSEG, Matthew McLennan, Goldman Sachs, Oliver Collin, Europe's, Collin, LVMH, Ayesha Akbar, Eagle's McLennan, Joice Alves, Mark Potter Organizations: Silicon Valley Bank, Credit Suisse, Deutsche Bank, U.S, drugmaker Novo Nordisk, Fidelity, Thomson Locations: Frankfurt, Silicon, Germany, U.S
Water is running out in Gaza
  + stars: | 2023-10-16 | by ( Aditi Bhandari | Prasanta Kumar Dutta | Clare Trainor | ) www.reuters.com   time to read: +3 min
Following the deadly Hamas rampage across southern Israel on Oct. 7, which killed more than 1,300 people, Israel ordered an immediate cut-off of the country’s water supplies to the Gaza Strip. REUTERS/Ahmed ZakotOn Sunday, Israel’s energy minister said that a decision to renew water supplies to parts of southern Gaza was agreed on between Prime Minister Benjamin Netanyahu and U.S. President Joe Biden. On Monday, Hamas said that Israel had yet to resume water supplies for the Gaza Strip despite pledging to do so, while an Israeli official responded that some water was being provided to an area in the south of the enclave. Bar chart comparing the daily water consumption in litres per capita in Gaza and Israel. Map showing 3 desalination plants and 6 wastewater plants in the Gaza Strip.
Persons: Khan Younis, Ahmed Zakot, Benjamin Netanyahu, Joe Biden, Israel, Organizations: United Nations, REUTERS, U.S, Health, WHO, Palestinian Central Bureau of Statistics, Water, Palestinian Water Authority, Records, UNSCO Atlas, Sustainable, Resources, Israeli Information Center, Human Rights, World Bank Locations: Gaza, Israel, Sinai, Egypt, B’Tselem, Territories
“I don’t think there is any way of discussing Teju Cole’s aesthetic without putting front and center this idea of his relentless inventiveness,” the writer Amitava Kumar wrote by email. Cole calls his new novel “a reiteration of my faith in fiction.” But it didn’t come easily or quickly. After “Open City,” Cole began to conceive of a big work of nonfiction on Lagos, his hometown, in the vein of Suketu Mehta’s book “Maximum City,” about Mumbai. (Cole, who often borrows from his own biography in his books, was born in Kalamazoo, Mich. and raised in Nigeria. I think I had to realize that what I have to offer is something else, closer to the bone and more personal.”
Persons: Amitava Kumar, , Thelonious Monk, Kumar, Cole, , ” Cole, that’s Locations: Lagos, , Mumbai, Kalamazoo, Mich, Nigeria, United States
DETROIT (AP) — Ford Motor Co. Executive Chairman Bill Ford called on autoworkers to come together to end a monthlong strike that he says could cost the company the ability to invest in the future. Many jobs will be lost,” said the great grandson of company founder Henry Ford. Ford has 57,000 UAW workers compared with 46,000 at GM and 43,000 at Stellantis. Ford said the strike at the Kentucky plant is harming tens of thousands of Americans who work for parts suppliers and Ford dealers. Fain said on Wednesday that Ford told UAW bargainers for nearly two weeks that it would make another counteroffer on economic issues.
Persons: , Bill Ford, Ford, , Henry Ford, ” Ford, , Shawn Fain, Fain, Kumar Galhotra, “ Ford hasn’t, “ We’ve, they’re, ” Galhotra Organizations: DETROIT, — Ford Motor Co, America, United Auto Workers, Ford, GM, United Auto Workers union, Detroit, Kentucky, Plant, UAW, General Motors, Lincoln, UAW bargainers Locations: Dearborn , Michigan, America, Stellantis, Mexico, U.S, Louisville, Kentucky
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's inflation target is beyond reach for at least the next couple of years, says Komal Sri-KumarKomal Sri-Kumar, Sri-Kumar Global Strategies president, joins 'Closing Bell: Overtime' to discuss the impact of the Israel-Hamas war on inflation, what this means for fixed income returns, and more.
Persons: Komal, Kumar Komal, Kumar Organizations: Kumar Global Locations: Israel
WASHINGTON (AP) — Charles and Kathleen Moore are about to have their day in the Supreme Court over a $15,000 tax bill they contend is unconstitutional. "If you haven’t received any income, how can you be required to pay income taxes?” Charles Moore asks in a video posted by the Competitive Enterprise Institute. But far from being a passive investor with no influence over the company, Moore, who worked at Microsoft during his career in software development, served on KisanKraft's board of directors for five years. One other inconsistency is that while the Moores say they jointly invested the money, only Charles Moore's name appears in company documents. Rosenthal said that “the ugly facts matter” and that the justices could return the Moores' case to a lower court without ruling on it.
Persons: — Charles, Kathleen Moore, Charles Moore, Moores, Paul Clement said, Donald Trump, haven’t, ” Charles Moore, Moore, Charles, KisanKraft, ” Mindy Herzfeld, Charles Moore's, , Reuven Avi, Yonah, Andrew Grossman, Steven Rosenthal, Rosenthal, John Roberts, Clarence Thomas, Ginni, Ravindra “ Ravi ” Kumar Agrawal, , ” Moore, Samuel Alito, David Rivkin, Alito, Rivkin, Fatima Hussein Organizations: WASHINGTON, Enterprise Institute, Foundation, Republican, U.S . Chamber of Commerce, Competitive Enterprise Institute, Microsoft, University of Florida, KisanKraft, University of Michigan, Associated Press, Urban, Brookings Tax, Center, Moores, ___ Associated Locations: Redmond , Washington, India, county Limerick, Ireland, Nebraska, Colorado, Washington, ___
[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Some analysts said the decision to shut down Kentucky Truck and other high-profit Detroit Three operations is a sign that the endgame could be starting in the labor dispute. The tens of thousands of Ford workers with no retirement security."
Persons: Luke Sharrett, Shawn Fain, “ We’re, , Fain, We're, Ford, Jim Farley's, Farley, ” Ford, Arthur Wheaton, Stellantis, Kumar Galhotra, who's, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joseph White, Abhirup Roy, Pushkala Aripaka, Shivansh, Amna, David Gaffen, Jamie Freed, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Ford, Kentucky, General Motors, Chrysler, Detroit automakers, GM, Detroit, Cornell University, Reuters, Ford Bronco, EV, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Wells, Milan, Louisville, Ford's Michigan, Washington, Detroit, San Francisco, Bengaluru
[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. ET (1400 GMT) with fallout still raining down from his surprise decision on Wednesday to strike Ford Motor's (F.N) Kentucky truck plant, the automaker's largest and most profitable operation worldwide. Last Friday, Fain said if needed, the UAW would strike the GM assembly plant in Arlington, Texas, that builds the Cadillac Escalade, Chevy Suburban and other large, high-priced SUVs. GM's Flint, Michigan, heavy-duty truck assembly plant is another potential strike target. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement.
Persons: Luke Sharrett, Shawn Fain, Fain, Ford, Kumar Galhotra, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joe White, Jamie Freed Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Reuters, Chrysler, General Motors, Ford, GM, Ford Bronco, EV, Reuters Graphics Reuters, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Louisville, Arlington , Texas, Flint , Michigan, Ford's Michigan, Washington, Detroit
Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.
Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, , Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington
Now there is only one rule – pony up.”The announcement marks a tactical shift, Fain said. This is the first time that the union has gone on strike against GM, Ford and Stellantis at the same time. GM, Ford and Stellatis have all announced plans to shift from traditional gasoline-powered vehicles to electric vehicles, or EVs. All are expected to pay significantly less than UAW members at those engine and transmission plants are now paid. Details of what GM has agreed upon in relation to workers battery plant workers is not yet known, as GM has not confirmed the tentative agreement on the issue.
Persons: Shawn Fain, ” Fain, Fain, “ We’re, , they’re, , Colin Langan, Ford, Kumar Galhotra, didn’t Organizations: CNN, Big, UAW, Kentucky, Plant, GM, Ford, Wells, Kentucky Truck Locations: Ford’s, Louisville, Wells Fargo
DETROIT (AP) — The United Auto Workers union isn't adding any factories to those that are now on strike, but its president says more walkouts could begin at any moment. But UAW President Shawn Fain told workers in a live video appearance that the companies started gaming the system, waiting until Fridays to make progress in bargaining. “We will be calling out plants when we need to, where we need to, with little notice,” Fain said on Friday morning. “We're not sticking to one pattern or one system of giving these companies an extra hour or an extra day. The UAW then made a surprise move on Wednesday, escalating the strikes by adding a huge Ford pickup truck and SUV plant in Kentucky.
Persons: Shawn Fain, ” Fain, , Ford, Kumar Galhotra, , Galhotra, Fain, “ Ford, Wyatte Grantham Organizations: DETROIT, United Auto Workers, General Motors, Detroit, GM, Ford, UAW, Ford Blue, Philips Locations: Kentucky, Ford, New York
A newly remodeled Ford F250 Super Duty truck is displayed at the new Louisville Ford truck plant in Louisville, Kentucky, U.S. September 30, 2016. UAW President Shawn Fain on Wednesday ordered a strike at Ford's Kentucky Truck factory after Ford negotiators did not present a richer contract proposal. About 4,600 Ford workers could be idled because their jobs depend on production of Super Duty pickups and large Lincoln and Ford SUVs at Kentucky Truck, said Ford manufacturing vice president Bryce Currie. Already, 13,000 workers at Ford suppliers have been furloughed because of earlier UAW walkouts at two Ford assembly plants, Ford supply chain chief Liz Door said. Fain and other UAW officials called a meeting with Ford at on Wednesday evening and demanded a new offer, which Ford did not have, a Ford official said.
Persons: Bryan Woolston, Kumar Galhotra, Ford, Galhotra, Shawn Fain, Here’s, Fain, Stellantis, Bryce Currie, Liz Door, Chris McNally, Karine Jean, Pierre, Sam Fiorani, Glen Hauenstein, Wednesday's Ford, walkouts, Joe White, Abhirup Roy, David Shepardson, Priyamvada, Peter Henderson, Ben Klayman, Nick Zieminski, Matthew Lewis Organizations: Ford, Super, Louisville Ford, REUTERS, Rights DETROIT, United Auto Workers, UAW, Ford's Kentucky, Chrysler, Detroit, Kentucky, General Motors, Lincoln, White, AutoForecast Solutions, Reuters Graphics Reuters, Delta Air Lines, Delta, Detroit Three, GM, Stellantis, Thomson Locations: Louisville , Kentucky, U.S, WASHINGTON, Stellantis, Lincoln, Kentucky, Arlington , Texas, Flint , Michigan, Sterling Heights, Warren , Michigan, Detroit, Wells, Its Kentucky, San Francisco, Washington, Bengaluru
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. DETROIT – Ford Motor is "at the limit" of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday as contract negotiations continue for roughly 57,000 U.S. workers. "This offer was the exact same offer they gave us two weeks ago. Electric vehicle battery plants have been a major point of contention for the union in bargaining with all three of the Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't and won't be covered by the automakers' agreements with the union.
Persons: Kumar Galhotra, Galhotra, We're, Shawn Fain, they're, Fain, They're, Ford Organizations: United Auto Workers, Plant, DETROIT, UAW, ., Detroit automakers, Ford, General Motors, GM Locations: Michigan, Wayne , Michigan, Kentucky, America, United States
More than 2 million people live in the Gaza Strip, which is facing a punishing counterattack from Israel. Experts say Gaza is in the midst of a humanitarian crisis, and people are running out of basic supplies. The crisis is exacerbated by the fact that Gaza has been restricted under blockade for 16 years. So far, thousands have been killed or injured in the Palestinian territories of Gaza and the West Bank and in Israel. Groups are begging for the establishment of humanitarian corridors to bring in much-needed supplies to the trapped region.
Persons: , António Guterres, Akshaya Kumar, Hamas —, Antony Blinken, John Kirby, Kirby, Kumar, Yoav Gallant, Gallant, Ivan Karakashian, they've, Ahmad Abuznaid, he's, Abuznaid, they're, Joe Biden, Israel, Blinken, Biden, Vox, that's Organizations: Experts, Service, Hamas, UN, World Health Organization, West Bank, Human Rights, CNN, White, Norwegian Refugee Council, US, Palestinian, State Department Locations: Gaza, Israel, Palestinian, Philadelphia, Egypt, of Israel, Jerusalem, Houston, Huwara, Jenin
Montana became the first state to authorize a complete ban on TikTok when lawmakers passed SB419 in April and Gov. US officials have said that Chinese government influence over ByteDance could potentially lead to US TikTok users’ data being exposed to Beijing — which might facilitate spying, blackmail or other espionage activity. Alexander Berengaut, an attorney for TikTok, responded by quoting Montana Attorney General Austin Knudsen’s own past words about the ban that have characterized TikTok as an alleged agent of China. Ambika Kumar, an attorney representing the group of TikTok creators, said SB419 tramples on the First Amendment rights of consumers and of TikTok itself. Knudsen could have even gone on television to issue public service announcements warning Montanans not to use TikTok, Malloy suggested.
Persons: Greg Gianforte, Donald Molloy, Christian Corrigan, Corrigan, ” Corrigan, Montana’s, ByteDance, TikTok, Molloy, Alexander Berengaut, Austin Knudsen’s, ” Berengaut, , ” Molloy, Ambika Kumar, SB419 tramples, ” Kumar, “ It’s, Malloy, , , Knudsen, ” Malloy Organizations: CNN, Gov, TikTok Locations: Montana, United States, China, Beijing, TikTok, Berengaut
STOCKHOLM/AMSTERDAM, Oct 12 (Reuters) - Airlines wrestled with the safety risk of evacuation operations in Israel on Thursday, with carriers including Dutch KLM cancelling flights while sister airline Air France mounted a special relief flight chartered by the French foreign ministry. Israel's parliamentary finance committee meanwhile approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines. The framework will grant Israeli airlines cover against war risks, thereby ensuring the continuity of air operations. Foreign airlines have struggled to find a common approach and the head of European budget giant Ryanair (RYA.I) said it was up to governments to plot the way forward. PATCHY RESPONSEGermany's Lufthansa (LHAG.DE) said it was sticking to its plans for evacuation flights on Thursday and Friday, while continuing to ground commercial flights to Israel.
Persons: Ben Gurion, Ben Smith, Ed Bastian, Sasha Gainullin, Rafael Schvartzman, Obama, Anna Ringstrom, Bart H, Meijer, Tim Hepher, Joanna Plucinska, Julia Payne, Carolyn Cohn, Steven Scheer, Rajesh Kumar Singh, Doyinsola, Terje Solsvik, Deborah Kyvrikosaios, Diane Craft Organizations: Airlines, Dutch KLM, Air France, Palestinian, Israel's, Norwegian Air, Insurance, Reuters, Foreign, Ryanair, KLM, Boeing, Lufthansa, Dubai's Emirates, Delta Air Lines, International Air Transport Association, Regulators, U.S . Federal Aviation Administration, Thomson Locations: STOCKHOLM, AMSTERDAM, Israel, Palestinian, Tel Aviv's, Ben, Gaza, Tel Aviv, Eilat, Emirates, United States, Europe, U.S, Ben Gurion
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