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In the past few years, Germany has become a hotbed for ATM bombings, the Financial Times wrote. That's because Germans still favor cash over electronic payments, making ATMs ripe targets. Last year, about 30 million euros were stolen via ATM bombings, up 53% from a year earlier. That translated to 30 million euros that were stolen via ATM bombings last year, up 53% from a year earlier. Meanwhile, attempts to fortify ATMs against earlier types of detonations were thwarted when the criminals switched to different explosives, according to the FT.
Persons: That's Organizations: Financial Times, Service, Federal Criminal Police Office, FT Locations: Germany, Wall, Silicon, Netherlands
A Lesson in Tender, Tangy Lemon Bars
  + stars: | 2023-07-24 | by ( Genevieve Ko | More About Genevieve Ko | ) www.nytimes.com   time to read: +1 min
I had no idea what lemon bars were. My classmates said that my new school would turn my Chinese American self into a banana or a Twinkie — yellow on the outside, white within. Because the lemon bars didn’t taste like a loss of identity, but an expansion of it. But from-scratch treats from midcentury Americana were foreign to me — and lemon bars tasted especially mysterious, at once sour and sweet, rich and sharp. The next year, Betty Crocker’s “Cooky Book” included a recipe for Lemon Squares, which extended its popularity beyond local community cookbooks.
Persons: Eleanore Mickelson, Betty Crocker’s “ Organizations: Chicago Tribune Locations: East Asia, Mexico, Eden, Los Angeles
[1/2] Nidec Corp's logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. Nagamori welcomed the prospect of Japan becoming more receptive to unsolicited bids. Because unsolicited bids are seen as taboo, Nidec has typically focused on buying and turning around money-losing companies, he said, but "that takes time". In corporate Japan, unsolicited bids have been seen as too adversarial. he said, referring to Nidec's tender offer price with an 80% premium.
Persons: Kim Kyung, Shigenobu Nagamori, Nagamori, Nidec, Makiko Yamazaki, Miho Uranaka, Robert Birsel Organizations: REUTERS, Thomson Locations: Tokyo, Japan, TOKYO
Nico Rosberg took the Sunreef 80 Eco, a luxury electric yacht, for a spin. Sunreef Yachts recently unveiled their second-generation Sunreef 80 Eco. The Sunreef 80 Eco solar panels are built into the body and mast of the yacht. Sunreef 80 Eco deck. Sunreef 80 Eco YouTube/Nico RosbergYou can watch the entire tour of the supertoy here.
Persons: Nico Rosberg, Rosberg, Elon Organizations: Sunreef Yachts, Sunreef, Eco
Thank you, Denise The quickest way to determine the sustainability of a company's dividend is to consider it in relation to earnings and/or cash flow. The dividend payout divided by the earnings number is referred to as the "payout ratio" — below 100% is generally considered sustainable (so long as it's positive). First, earnings fluctuate and therefore so does the payout ratio (assuming a non-variable dividend payment). That's because all the numbers are positive in the "adjusted EPS payout ratio" line (2021 and 2022 actual results and 2023 and 2024 estimated results) and each of them is below 100%. As you stated, our discipline is to not violate our cost basis and we stick to that as much as possible.
Persons: Jim Cramer, Denise The, it's, Johnson, Larry, Jim, Denise Organizations: investingclubmailbag, Ford, Kenvue, Johnson, Nvidia, CNBC Locations: FactSet, IOUs, JNJ
Johnson & Johnson (JNJ) reported strong second - quarter profit and revenue before the opening bell Thursday, with better-than-expected results both domestically and internationally, as well as across all major operating segments. It's possible that J & J management will offer up Kenvue shares at a discount to market value. Regardless, arbitrage isn't our game and we want to be invested in J & J for the long term. The only change — since J & J owns 89.6% of Kenvue — is that 10.4% of earnings generated since Kevnue went public in early May to the end of the quarter are no longer attributed to J & J. A Johnson & Johnson building is shown in Irvine, California.
Persons: Johnson, , Kevnue, J, J's, prioritization, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Dow, Pharmaceutical, Management, J's, Johnson, J, Consumer, Consumer Health, Pharmaceutical Pharmaceutical, CNBC, & $ Locations: Kenvue, JNJ, KVUE, Spravato, Irvine , California
Pakistan to sell contract to run Islamabad airport
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +1 min
KARACHI, Pakistan, July 20 (Reuters) - Pakistan is to proceed with the sale via tender of a contract to manage Islamabad airport after consultations with the International Finance Corporation (IFC), the Ministry of Finance said on Thursday. In March Pakistan had kicked off the outsourcing of operations at three major airports and the ministry said Islamabad airport was the first of these to be affected, as the country seeks to generate foreign exchange reserves for its ailing economy. In a statement the ministry said it had been unanimously agreed for the outsourcing of operations at Islamabad airport to go ahead in order to improve service delivery in line with best industry practices. Officials say Pakistan has been in talks with Qatar to jointly run the terminals at Islamabad, Karachi and Lahore airports. The Qatar Investment Authority pledged to invest $3 billion in Pakistan after Prime Minister Shehbaz Sharif visited Doha late last year.
Persons: Shehbaz Sharif, Ariba Shahid, David Holmes Organizations: International Finance Corporation, IFC, Ministry of Finance, Pakistan, Qatar Investment Authority, Thomson Locations: KARACHI, Pakistan, Islamabad, Qatar, Karachi, Lahore, Doha
Dutch SPAC in advanced talks to acquire electric vehicle group
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +1 min
LONDON, July 20 (Reuters) - SPEAR Investments I (SPR1.AS), a special purpose acquisition company (SPAC), is in advanced discussions to acquire QEV Technologies, a Spanish electric vehicle firm, at a valuation of 209 million euros ($234 million), the companies said on Thursday. The deal will see QEV Technologies, which recently won a tender to operate a former Nissan manufacturing facility in Barcelona, merge into SPEAR Investments I and trade on the Amsterdam bourse. SPEAR Investment I, backed by corporate finance houses STJ Advisors and AZ Capital, listed in Amsterdam in late 2021. The planned merger will see QEV Technologies' existing shareholder Inveready make a further investment in the company alongside new investors to help support its growth. ($1 = 0.8929 euros)Reporting by Pablo Mayo Cerqueiro in London; editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Pablo Mayo, Alexandra Hudson Organizations: Investments, AS, QEV Technologies, QEV, Nissan, Amsterdam bourse, STJ Advisors, AZ Capital, El, Pablo Mayo Cerqueiro, Alexandra Hudson Our, Thomson Locations: Spanish, Barcelona, Amsterdam, London
What’s the difference between $100 in cash and $100 in a checking account? It goes into its computer and marks up your checking account by whatever amount you borrowed. Congress creates money from thin air by deficit spending and the Federal Reserve creates it by buying bonds. The more you think about money, the weirder it starts to feel. The government’s money used to be backed by real stuff like gold and silver.
Persons: Banks Organizations: Federal Locations: United States
Rising tensions between Washington and President Nayib Bukele's government, dwindling prospects of a financing deal with the International Monetary Fund (IMF) and the fallout from bitcoin becoming legal tender against a wider difficult macro backdrop had seen El Salvador bonds drop to a quarter of face value last July. "In the summer of 2022, El Salvador bond prices were divorced from fundamentals," said Aaron Stern, managing partner and chief investment officer at Converium Capital in Toronto, who has been holding the country's bonds since last year. "The market was concerned about the administration's willingness to pay," he said, but even now El Salvador offers attractive value when compared to a number of better priced emerging market sovereigns. These were the best performing among sovereign bonds in the first half of the year, with total returns near 60%. "In a year where carry is the main driver of total returns, investors are going to be reticent to take profits too early," said BNP Paribas' Nathalie Marshik, a managing director for Latin America fixed income.
Persons: Nayib Bukele's, buybacks, Aaron Stern, Alejandro Werner, Bukele, there's, Shamaila Khan, Nathalie Marshik, Marshik, Rodrigo Campos, Karin Strohecker, William Maclean Organizations: YORK, Central, International Monetary Fund, El, IMF, Converium Capital, Reuters, Emerging Markets, Asia Pacific, UBS Asset Management, Reuters Graphics JPMorgan, Thomson Locations: El Salvador, Central American, Washington, Toronto, it's, America
The fan communities that have formed around these pairs are forged through wondering and wishing, in-jokes and lingo and those in the know. Our touchstone isn’t the friendship itself; it’s a feeling, an act of quiet yearning, a longing look and a passed note. For many queer women, first love means falling for a friend, hiding your feelings and hoping they’ll pass, pretending to like boys — and underneath all that, praying she feels it, too. Much has been written about the perverse parasociality of fandom, the blurring line between public displays of devotion and invasions of privacy. Queer fandoms often foster an especially ardent passion, passed among people who’ve felt misunderstood and judged for whom they love, finally publicly expressing adoration.
Persons: , I’ve, I’m, they’ll, fandoms, who’ve, Emmeline Clein Organizations: Miss, Knopf Locations: Brooklyn
Xavier Niel’s GAM raid looks less quixotic
  + stars: | 2023-07-18 | by ( ) www.reuters.com   time to read: +2 min
NewGAMe, whose backers include telecoms mogul Xavier Niel and Swiss wealth manager Bruellan, launched a tender offer for just under 18% of GAM’s shares. Liontrust’s offer looked like the least bad option for GAM, which is losing money as its assets have more than halved since 2018 to 68 billion Swiss francs. And at least one other investor, with 6.5%, has said it won’t accept Liontrust’s offer. That means Liontrust will probably struggle to get to the two-thirds vote it would need to take over GAM. But GAM also has over 2 billion Swiss francs of tax losses to carry forward, lowering any future tax burden.
Persons: Xavier Niel, Bruellan, NewGAMe, Neil Unmack, Aimee Donnellan, Oliver Taslic Organizations: Reuters, GAM, Liontrust Asset Management, Twitter, Commonwealth Games, Cathay, Thomson Locations: Swiss
"We are initiating coverage with an ONON with an Outperform rating and $38 price target. Citi opens a positive catalyst watch on Valvoline Citi opened a positive catalyst watch on Valvoline and says it has robust fundamentals. "We open a 30-day upside catalyst watch based on strong fundamentals and the stock's relative under-performance post completion of the Dutch tender offer on 6/8." Citi opens a positive catalyst watch on Bank of New York Mellon Citi opened a positive catalyst watch on the investment bank ahead of earnings Tuesday. Morgan Stanley reiterates Apple as overweight Morgan Stanley raised its price target on Apple to $220 from $190 and says India is the company's "next frontier."
Persons: TD Cowen, Cowen, Goldman Sachs, it's, Wells, Tesla, Wells Fargo, Morgan Stanley, Apple, Morgan Stanley downgrades Conagra, Morgan Stanley downgrades Pepsi, Raymond James downgrades, Raymond James, Bernstein, Aramark, Oppenheimer Organizations: Citi downgrades AT, Citi, Valvoline Citi, Bank of New York Mellon Citi, BK, Nvidia, Deutsche Bank, Netflix, Baidu, Apple, Pepsi, Barclays, LT, JPMorgan, Bank of America, Zynga, NXP Semiconductors, Intel Citi, Intel, AMD, Meta, Suisse, Arista Networks, ISI Locations: eCommerce, China, India, Apple India
EV Charging Networks Prepare for Cyberattacks
  + stars: | 2023-07-14 | by ( Catherine Stupp | ) www.wsj.com   time to read: +6 min
Efforts to address the security of EV charging stations are in early stages. A U.S. infrastructure law passed in 2021 includes $7.5 billion in funding for states to expand EV charging stations. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Tesla is poised to dominate EV charging in the U.S., and auto manufacturers including General Motors, Ford, Volvo and Rivian signed on to adopt Tesla’s charging standard this year. Last year, the city of Amsterdam for the first time included cybersecurity requirements in a public tender for public EV charging stations.
Persons: , van, Biden, cybersecurity, Tomas Bodeklint, Anjos Nijk, ” Nijk, Jay Johnson, ” Johnson, Tesla, Rivian, Teza Mukkavilli, Mukkavilli, BING GUAN, REUTERS ChargePoint, van den, Jaap de Munnik, de Munnik, Catherine Stupp Organizations: European, Research Institutes of Sweden, EV, European Network, Cyber Security, Sandia National Laboratories, , Nationwide, Sandia, General Motors, Ford, Volvo, Benz Group, N.M, REUTERS, Enza Locations: Europe, U.S, Netherlands, European Union, South Dakota, York, North America, Corona, ElaadNL, Amsterdam, Dutch
When she saw it again, “it had been sliced into pieces” so that the company could turn it into a mass-produced pattern. It was a fitting introduction to the company that would leach her useful qualities and mistreat the whole person. “Strip Tees” is devourable, rendered in efficient, colorful scenes. Flannery’s conversion from credulous retail recruit to company woman doesn’t trade in hyper-intellectual #MeToo-era analysis or retrospective scolding. “Shopgirls” appeared in the company’s advertisements, wearing hot shorts or ’70s-inspired tube socks and little else.
Persons: Kate Flannery, , Flannery, baring velour romper, Dov Charney, , ” Flannery, “ Shopgirls ” Locations: TEES, Los Angeles, kelly
FRANKFURT/LONDON July 13 (Reuters) - Energy majors BP (BP.L) and TotalEnergies (TTEF.PA) have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. The awards for capacity due to come online in 2030 also excluded leading offshore wind developers, such as RWE (RWEG.DE) and Orsted (ORSTED.CO). AUCTION DESIGNThe 7 GW electronic auction officially opened in January and bidders had until June 1 to submit offers. In previous German lease auctions, companies have made low or negative bids with the expectation of subsidies from the state. Industry groups have said the high costs of the leases could drive up the cost of offshore wind projects.
Persons: Bundesnetzagentur, Bernstein, WindEurope, Orsted, Norway's, TotalEnergies, Vera Eckert, Susanna Twidale, Christoph Steitz, Ron Bousso, Nora Buli, Nina Chestney, Barbara Lewis Organizations: Energy, BP, Industry, Thomson Locations: FRANKFURT, Germany, Macquarie, England, Danish
According to JPM's circular, the shares currently unaccounted for are estimated to be less than 1% of the shares held in custody at another financial institution. This meant Deutsche was unable to reconcile the company shares held at another custodian bank with the depositary receipts on its own books. The Bank of Russia did not immediately respond to a request for comment on JP Morgan's search for the potentially missing Magnit shares. More than 60% of Magnit's shares are free-float, with shareholders including major global asset managers, Refinitiv data shows. When first announcing the plans, Magnit said its voluntary tender offer was also addressed to JPM, regarding shares held in its DR program custody account.
Persons: Morgan Chase, Mike Segar, Morgan, JPM, Deutsche, Russia's, Magnit, Sinead Cruise, Alexander Marrow, Jane Merriman Organizations: Co, New York City, REUTERS, Reuters, Deutsche Bank, Deutsche Bank . Lawyers, Deutsche, Bank of Russia, Settlement Depository, NSD, Kremlin, Thomson Locations: New York, Ukraine, Moscow, Russian, Krasnodar, Russia, Uzbekistan, Euroclear
BP’s German wind option risks multiple blowbacks
  + stars: | 2023-07-13 | by ( George Hay | ) www.reuters.com   time to read: +5 min
But Germany also aims to raise as much cash as possible from selling wind power development rights. But wind projects around the world have been hit by turbine makers like Siemens Gamesa and Vestas (VWS.CO)hiking prices in 2022 by 30%. Shaking down the private sector is fine, but not if you’re left with no wind projects. Reuters Graphics Reuters GraphicsFollow @gfhay on TwitterCONTEXT NEWSOil majors BP and TotalEnergies have won a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion). BP’s initial payments totaling 678 million euros, equivalent to 10% of the bid amount, will be paid by July 2024.
Persons: Bernard Looney, TotalEnergies, Looney, TotalEnergies ’, Patrick Pouyanné, Bernstein, you’re, BP, Aimee Donnellan, Pranav Kiran, Streisand Neto Organizations: Reuters, BP, Bernstein Research, Siemens, Reuters Graphics Reuters, TotalEnergies, Federal, Thomson Locations: Germany, Berlin, U.S, Heligoland, Baltic, Ruegen, Europe, TotalEnergies
Companies Bp Plc FollowTotalEnergies SE FollowFRANKFURT/LONDON, July 12 (Reuters) - Oil majors BP (BP.L) and TotalEnergies (TTEF.PA) emerged as the winners in a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion), highlighting the appeal of renewable assets across Europe. "The results confirm the attractiveness of investments in offshore wind power in Germany," said Klaus Mueller, president of Germany's energy regulator Bundesnetzagentur. Analysts at Jefferies noted the high price for the auction, adding that it implied "high interest in European offshore wind sites from energy companies/developers". BP won the rights to develop two projects, marking its entry into offshore wind in continental Europe and representing 4 GW out of the total, it said in a separate statement. "This is a significant milestone for BP, showing our commitment to transitioning into an integrated energy company," BP head of offshore wind Matthias Bausenwein said.
Persons: Klaus Mueller, Matthias Bausenwein, Patrick Pouyanne, TotalEnergies, Vera Eckert, Christoph Steitz, Ron Bousso, Friederike Heine, Sharon Singleton, Chris Reese Organizations: Bp, Oil, BP, Jefferies, Federal, Thomson Locations: FRANKFURT, LONDON, Germany, Europe, Heligoland, Baltic, Ruegen, TotalEnergies, Frankfurt, London
In These Four Story Collections, Feminist Horror Abounds
  + stars: | 2023-07-12 | by ( Kate Folk | ) www.nytimes.com   time to read: +1 min
“She was horrified by the traces of monstrosity in everyday life,” Agustina Bazterrica writes of a character in her new collection, NINETEEN CLAWS AND A BLACKBIRD: Stories (Scribner, 154 pp., paperback, $17.99), and it could be read as a unifying principle for all 20 stories. Moses’ translation from the Spanish captures the playful gruesomeness of the Argentine writer’s prose. Misogyny and its knock-on effects are an animating force throughout. In “Unamuno’s Boxes,” a woman suspects her cabdriver is a serial killer, tipped off by his perfectly manicured nails. Bazterrica takes big swings throughout, and while not every punch lands, these stories are fresh and unnerving.
Persons: ” Agustina Bazterrica, Scribner, Moses ’, , who’s, ” Ada, , sanguinely Locations: Argentine
Cruise ships and their destinations are overflowing with travelers this summer. Cruise ships — and their destinations — are jam-packed with travelers this summer. Pick a cruise line that matches your personality and expectationsNot all cruise lines, or cruise ships for that matter, cater to the same kind of clientele. Buy travel insurance if you're going on an international cruiseChiron said he never travels internationally without purchasing trip insurance. Weigh the pros and cons of booking airfare through the cruise lineSome cruise lines have access to discounted flights and allow you to bundle your airfare with your cruise.
Persons: Guy, Stewart Chiron, Chiron, Don't, I've Locations: Mykonos, Santorini, It's, Miami, Seattle, Los Angeles, Rome
In mid-2020 Rome secured the lion's share of a 724-billion-euro kitty aimed at helping EU members emerge from COVID greener and more tech-friendly. Italy's 191.5 billion euros ($210 billion) of cheap loans and grants, to be received in tranches through 2026, was intended for productive investments in the bloc's most chronically stagnant economy. MICRO-PROJECTSMore than half the EU money is meant to go on digitalisation and ecological transition, with the rest devoted to sustainable transport, education, social cohesion and health. The government is still awaiting a 19-billion-euro tranche of the EU funds blocked in March over missed policy targets stemming from 2022. It brings Italy's byzantine rules closer to EU standards, but Gobbato said people will initially find it hard to adapt.
Persons: Flavio Lo Scalzo, Rome, Roberto Perotti, Giorgia Meloni, Mario Draghi, Giuseppe Conte, Carlo Messina, Intesa, Vittorio Soldavini, Davide Carlucci, It's, Gustavo Piga, Rome's, Ilaria, Dentons, Gobbato, Catherine Evans Organizations: REUTERS, Milan's Bocconi University, Treasury, European Central Bank, Technology, Tor Vergata University, Reuters, Thomson Locations: Milan, Italy, ROME, MILAN, tranches, Brussels, Italy's, Italian, Parma
After multiple false starts and much political back and forth, work is underway on the Seine-Nord Europe Canal (SNEC), a €5.1 billion ($5.5 billion) project designed to break up one of the continent’s major transport bottlenecks. Environmental impactThe Oise River is currently being redirected for 4 kilometers as part of ongoing canal construction. A new extension will be constructed to accommodate further war dead, including those discovered during the construction of the canal. Inland ports are planned along the SNEC route, aiding exports, as well as providing recreational opportunities, say its designers. Despite the canal’s stop-start history, the Société du Canal Seine-Nord Europe is confident its construction timeline can be met and the canal will become operational in 2030.
Persons: , , Jérôme Dezobry, Philippe Bourdon, Dezobry, Montmacq, ” Dezobry, Bourdon, , ” Claire Horton, Xavier Bertrand Organizations: CNN, European Union, EU, Commonwealth, Commission, CWGC, Loos British, Hauts Locations: France, Nord Europe, Dunkirk, Escaut, Paris, Belgium, Netherlands, Luxembourg, Compiègne, Aubencheul, Nord, Seine, Oise, Allaines, Thourotte, , Somme, Péronne, Cambrai, Beaurains, Loos, Pas, Calais, Loos British, Antwerp, de
CNN —Dutch Prime Minister Mark Rutte said Monday he would step down as leader of the country’s ruling party and leave politics, after his government collapsed over immigration policy, Dutch national broadcaster and CNN affiliate NOS reported. The inveterate survivor of Dutch politics, nicknamed “Teflon Mark” because scandals surrounding his four consecutive governments did not stick to him, announced his surprise decision at a parliamentary debate in the Hague. The more hardline approach to immigration policy came after the numbers of those seeking asylum in the Netherlands soared in recent years. The Netherlands received 36,620 applications for asylum in 2021 and 47,991 last year, with most applicants coming from Syria, according to the Dutch Immigration and Naturalization Service. I respect that.”Lilian Marijnissen, leader of the Dutch Socialist Party also said that it was a “wise decision” for Rutte to leave, and it was “Good for the Netherlands.”“Now is the time for honest politics,” Marijnissen said on Twitter.
Persons: Mark Rutte, , ” Rutte, Jesse Klaver, ” Lilian Marijnissen, Rutte, , ” Marijnissen Organizations: CNN, Dutch, NOS, Immigration, Naturalization Service, Christian Union, D66, Dutch Socialist Party, Twitter Locations: Dutch, Hague, Netherlands, Syria
3D-printing takeover battle misses third dimension
  + stars: | 2023-07-10 | by ( Robert Cyran | ) www.reuters.com   time to read: +4 min
Stratasys (SSYS.O) for now prefers a merger with peer Desktop Metal (DM.N), but a sweetened bid from Nano Dimension (2N5By.F) complicates matters. A simpler two-dimensional financial analysis suggests a snubbed offer from 3D Systems (DDD.N) may wind up the best option. The company’s nominees favor the Desktop Metal deal, while Nano’s back the alternative transaction. On May 25, Stratasys agreed to combine with Desktop Metal in an all-stock deal valued at $1.8 billion. On the same day, 3D Systems offered to buy Stratasys for $7.50 a share in cash and 1.3223 3D Systems shares for each Stratasys share.
Persons: Stratasys, Nano’s, Jeff Graves, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Systems, Desktop, Twitter, Thomson
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