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☆ Tullow in $400 million debt deal, Ghana oil marketing pact with Glencore
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsNov 13 (Reuters) - Tullow Oil (TLW.L) said on Monday it signed a $400 million five-year debt deal with Glencore (GLEN.L) to help manage its senior notes maturing through 2026 and will see the trading house take over marketing the crude from its flagship Ghana oilfields. The facility "significantly de-risks" Tullow's ability to refinance its 2026 notes, Peel Hunt analysts wrote in a note. Tullow's shares were up 3.6% at 31.5 pence in early trade. The company also signed an oil marketing and offtake contract with Glencore for Tullow's crude oil entitlements in Ghana and Gabon. Tullow reiterated its free cashflow guidance of $800 million between this year and 2025.

Persons: Arnd, Rahul Dhir, Peel, Tullow, Radhika Anilkumar, Shadia Nasralla, Savio D'Souza, Jason Neely Organizations: REUTERS, Glencore Energy UK Ltd, Peel Hunt, Glencore, Thomson Locations: Baar, Switzerland, Ghana, Gabon, Bengaluru, London

☆ Agrochemicals group Syngenta indicates $10 bln IPO likely next year
▼ + stars: | 2023-11-09 | by ( John Revill | ) www.reuters.com time to read: +2 min

A logo is seen at the headquarters of agricultural chemical maker Syngenta in Basel, Switzerland January 30, 2020. "Given weak market conditions we expect that the company will IPO by the end of next year," a company spokesman said on Thursday after Syngenta reported its Q3 earnings. The IPO update came as Syngenta, which competes with U.S. company Corteva (CTVA.N) and German firms BASF (BASFn.DE) and Bayer (BAYGn.DE), reported its latest earnings. Syngenta, which recently announced a change of chief executive and chief financial officer, has been pursuing an IPO for nearly two and half years. Syngenta was bought by ChemChina in 2017 for $43 billion and folded it into Sinochem Holdings Corp in 2021.

Persons: Arnd, Syngenta, John Revill, Kirsti Knolle, Robert Birsel Organizations: Syngenta, REUTERS, Rights, U.S, BASF, Bayer, Shanghai Stock Exchange, ChemChina, Sinochem Holdings Corp, Thomson Locations: Basel, Switzerland, Swiss, Brazil

[1/2] India's Commerce Minister Piyush Goyal takes part at the panel discussion "Trade: Now what?" during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. This meeting is to ensure that talks between India and Tesla "are moving in the right direction," the person added. Prime Minister Modi's office held a meeting with various ministries on Monday to expedite the new EV policy, said a third source. Reporting by Aditya Kalra, Aditi Shah and Shivangi Acharya; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Piyush Goyal, Arnd, Elon Musk, Narendra Modi, Tesla, Aditya Kalra, Aditi Shah, Shivangi, Chizu Organizations: India's, REUTERS, Tesla, Indian, Reuters, U.S, EV, Thomson Locations: Davos, Switzerland, DELHI, United States, U.S, India

☆ Coca Cola HBC withdraws some drinks in Croatia while illnesses investigated
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File photo Acquire Licensing RightsZAGREB, Nov 8 (Reuters) - Coca Cola HBC said on Wednesday it was temporarily withdrawing batches of two soft drinks from sale in Croatia while the authorities there investigate cases of illness suspected to have been caused by the beverages. Earlier Croatia's state inspection office ordered the local arm of Coca Cola HBC, which distributes Coca-Cola products, to withdraw a batch of Coca-Cola Original Taste 500ml. At the weekend, a young man in the Adriatic town of Rijeka suffered throat injuries after consuming a Romerquelle Emotion drink. The individual is being treated in hospital, Health Minister Vili Beros said on Wednesday, later telling state television HRT that 13 other people across Croatia had also reported symptoms after consuming Coca Cola drinks. Coca Cola HBC said in its statement: "We are working closely with our customers throughout this process".

Persons: Arnd, Vili Beros, Antonio Bronic, Daria Sito, Mark Potter Organizations: REUTERS, Rights, Coca Cola HBC, Health, HRT, Thomson Locations: Glattbrugg, Switzerland, Rights ZAGREB, Croatia, Adriatic, Rijeka

The new political advertising rules, which were agreed by EU countries and European Parliament lawmakers late on Monday, will force social media groups such as Alphabet's Google (GOOGL.O), Meta Platforms to be more transparent and accountable. All online political ads will be available in an online ad repository. "We also secured a favourable environment for transnational campaigning in time for the next European Parliament elections," Gozi said. The European Parliament will hold elections in June next year, with many concerned about disinformation and foreign interference in the run-up to the polls. Until then, measures regulating the non-discriminatory provision of cross-border political advertising - including for European political parties and political groups - will already be in place for the European Parliament elections in 2024.

Persons: Arnd, Sandro Gozi, Gozi, Foo Yun Chee, Alexander Smith Organizations: REUTERS, Rights, Big Tech, Union, EU, Google, European Commission, Thomson Locations: Zurich, Switzerland, Rights BRUSSELS, EU

☆ Tyson recalls 30,000 pounds of Dino Chicken Nuggets
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +1 min

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsNov 5 (Reuters) - U.S. food company Tyson Foods (TSN.N) has said it was voluntarily recalling approximately 30,000 pounds of frozen, fully cooked dinosaur-shaped chicken “Fun Nuggets” or Dino Chicken Nuggets. The company said the recall includes Tyson brand fully cooked “Fun Nuggets” sold to retailers in 29-ounce packages. The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) said Tyson food is recalling around 30,000 pounds of fully cooked breaded chicken in a release on Saturday. It said it has received no additional reports of injury or illness from consumption of these products.

Persons: Arnd, Dino, Tyson, FSIS, Scott DiSavino, Aurora Ellis Organizations: Tyson Foods, REUTERS, U.S . Department of Agriculture’s, Inspection, Thomson Locations: Davos, Switzerland

☆ Swiss National Bank posts 12 bln franc Q3 loss
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

A general view shows the building of the Swiss National Bank (SNB) in Zurich, Switzerland March 7, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Oct 31 (Reuters) - The Swiss National Bank on Tuesday posted a 12.04 billion franc ($13.36 billion) loss for the third quarter as the central bank lost money on its gold, foreign currency investments and Swiss franc positions. In addition, the central bank reported a 2.66 billion franc loss from Swiss franc positions, mainly as a result of interest paid to commercial banks. The SNB's results have been highly volatile in recent years, due to the vast level of foreign currency investments it built up during a long campaign to weaken the Swiss franc. The central bank posted a 132.5 billion Swiss franc loss in 2022, the biggest in the central bank's 115-year-history.

Persons: Arnd, John Revill, Friederike Heine, Kirsten Donovan Organizations: Swiss National Bank, Rights, Swiss, Thomson Locations: Zurich, Switzerland

☆ Europe's space agency boss sees progress on Ariane 6 launcher
▼ + stars: | 2023-10-31 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Director-General of the European Space Agency (ESA) Josef Aschbacher smiles as he attends an interview with Reuters during the World Economic Forum (WEF) in Davos, Switzerland, January 18, 2023. Josef Aschbacher, director general of the European Space Agency (ESA), said a more precise 2024 launch period would be defined following a delayed long-duration firing test due on Nov. 23. Aschbacher declined to comment on the state of negotiations ahead of the Seville "Space Summit", which is also due to address climate change and Europe's ambitions in space exploration. This is something that is highly critical for Europe," Aschbacher said. But in Europe's system of horse-trading for space funding, any agreement on exploration is likely to depend on progress on the critical issue of Ariane 6 funding, the people said.

Persons: Josef Aschbacher, Arnd, Aschbacher, Safran, Anders Fogh Rasmussen, Tim Hepher, Mark Potter Organizations: European Space Agency, ESA, Reuters, Economic, REUTERS, Rights, Elon, SpaceX, Russian Soyuz, Airbus, NATO, Thomson Locations: Davos, Switzerland, Seville, Spain, France, Germany, Italy, Russian, East, Ukraine, Europe, India, China, United States, Russia

☆ Hitachi wins EU okay for $1.8 bln Thales deal
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: 1 min

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Hitachi Ltd FollowThales SA FollowBRUSSELS, Oct 30 (Reuters) - EU antitrust regulators said on Monday they cleared Hitachi's (6501.T) 1.7-billion-euro ($1.80 billion) bid for Thales' (TCFP.PA) GTS railway signalling business on condition the Japanese company sells assets in France and Germany, as it offered to do so. Reuters reported two weeks ago the European Commission was about to clear the deal. ($1 = 0.9434 euros)Reporting by Marine Strauss and Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Marine Strauss, Benoit Van Overstraeten Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, Reuters, Commission, Thomson Locations: Zurich, Switzerland, Hitachi's, France, Germany

Looking ahead, the ongoing pass-through of the European Central Bank's monetary policy tightening, still no reversal of the inventory cycle and new geopolitical uncertainties will continue weighing on the German economy, Brzeski said. "The German economy looks set to remain in the twilight zone between minor contraction and stagnation not only this year but also next year," Brzeski said. The contraction in the third quarter is not seen as an outlier as Commerzbank expects the German economy to contract again in the winter half-year. Economists will pay close attention to national inflation data from Germany and Spain, as they are published one day before the euro zone inflation data release. Euro zone inflation is expected to ease to 3.2% in October from 4.3% in September, according to economists polled by Reuters.

Persons: Arnd, Carsten Brzeski, Brzeski, optimists, Joerg Kraemer, Claus Vistesen, Maria Martinez, Miranda Murray, Rachel More, Miral Fahmy, Angus MacSwan Organizations: REUTERS, Rights, Gross, Reuters, ING, European Central, Macroeconomics, Thomson Locations: Konstanz, Germany, Spain

☆ SNB vice-chairman says further rate hikes may be needed
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The building of the Swiss National Bank is seen in Zurich, September 22, 2022. SNB last month held its policy interest rate unchanged at 1.75%, noting that inflation - at 1.6% in August and within the central bank's target range of 0-2% - had eased. The vast majority of economists polled by Reuters last month, however, said that the SNB was done with interest rate hikes. He also said that AT1 bonds, which were written off as part of UBS' (UBSG.S) takeover of Credit Suisse, should have been loss-making at an earlier stage. "Despite ongoing losses, Credit Suisse did not suspend interest payments on these instruments," Schlegel said.

Persons: Arnd, Martin Schlegel, SNB, Schlegel, Gabrielle Tétrault, Farber, Emelia Sithole Organizations: Swiss National Bank, REUTERS, Rights, Reuters, Swiss, Credit Suisse, UBS, Thomson Locations: Zurich, Swiss, Switzerland

An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 27 (Reuters) - Alphabet's (GOOGL.O) Google has agreed to invest up to $2 billion in the artificial intelligence company Anthropic, a spokesperson for the startup said on Friday. The company has invested $500 million upfront into the OpenAI rival and agreed to add $1.5 billion more over time, the spokesperson said. Amazon.com (AMZN.O) also said last month it would invest up to $4 billion in Anthropic to compete with growing cloud rivals on AI. Anthropic, which was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei, has shown efforts to secure the resources and deep-pocketed backers needed to compete with OpenAI and be leaders in the technology sector.

Persons: Arnd, OpenAI, Dario, Daniela Amodei, Krystal Hu, Chavi Mehta, Jeffrey Dastin, Anil D'Silva, Devika Syamnath, Chris Reese Organizations: REUTERS, Google, Microsoft, Big Tech, U.S . Securities, Exchange Commission, Amazon, Street, Anthropic, Thomson Locations: Zurich, Switzerland, Anthropic, New York, Bengaluru

Alphabet (GOOGL.O) and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units. Meanwhile, Snap's efforts to revamp its ad targeting tools with technology also paid rich dividends, as average revenue per user increased in the third quarter. "We expect the larger platforms like Meta and Google to lead the wallet share growth at least initially in this ad spend recovery," analysts at Evercore ISI said. Meta has also leaned heavily on AI-powered marketing planning and ad measurement features in recent years to drive its growth. "Facebook/Instagram's tools for creating a (marketing) campaign are vastly quicker and easier to use" than smaller rivals including Snap, RBC analysts said, which could potentially give Meta an edge.

Persons: Arnd, Philipp Schindler, Max, Samrhitha Arunasalam, Aditya Soni, Sriraj Organizations: REUTERS, Google, Facebook, YouTube, Evercore, Meta, RBC, Thomson Locations: Zurich, Switzerland, Middle East, Bengaluru

New Roche CEO Thomas Schinecker is keen to restore Roche's battered drug development record after major late-stage trial setbacks in the areas of Alzheimer's and cancer immunotherapy last year. The acquired drug, against inflammatory bowel disease such as ulcerative colitis and Crohn's disease, belongs to a class of new treatments known as anti-TL1A antibodies which has attracted major deal activity in the pharma industry. Merck & Co (MRK.N) in April agreed to buy anti-TL1A antibody developer Prometheus Biosciences for $10.8 billion. Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide and 80% of all individuals not experiencing lasting remission, Roche said. "We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases," said Roche CEO Schinecker.

Persons: drugmaker Roche, Arnd, New Roche, Thomas Schinecker, Schinecker, Roche, John Revill, Ludwig Burger, Friederike Heine, Jason Neely Organizations: REUTERS, Roivant Holdings, Pfizer Inc, pharma, Sanofi, Merck & Co, Prometheus Biosciences, Thomson Locations: Basel, Switzerland, ZURICH, FRANKFURT, Swiss, U.S, Japan, Zurich, Frankfurt

☆ Switzerland projected to shift to right in national elections
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +2 min

[1/4] General view of the snow-covered mountains of the Bernese Alps, Eiger, Moench and Jungfrau, as seen from Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann Acquire Licensing RightsZURICH, Oct 22 (Reuters) - Switzerland looked set to shift to the right in its national elections on Sunday, as concerns about immigration and political correctness trumped fears about climate change and melting glaciers. Switzerland's second biggest party was poised to increase its share by 0.4 percentage points of the vote to 17.2%. In contrast, the Greens were expected to see their share of the votes fall by 4.1 percentage points to 9.1%. "The SVP has done well because it has raised fears about 'wokeness' and also focused on migration again,” said Hermann.

Persons: Arnd, pollsters GFS, Michael Hermann, ”, Hermann, John Revill, Cecile Mantovani, Barbara Lewis Organizations: REUTERS, Rights, Swiss People's Party, SRF, pollsters, Social Democrats, Greens, Federal Council, Thomson Locations: Bernese, Bern, Switzerland, Swiss, pollsters GFS Bern

☆ Royalty Pharma to pay $1 bln for Roche's SMA drug royalties
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 19 (Reuters) - Royalty Pharma (RPRX.O) said on Thursday it has purchased additional royalties on Roche (ROG.S) and PTC Therapeutics' (PTCT.O) oral spinal muscular atrophy (SMA) drug for an upfront payment of $1 billion. Spinal muscular atrophy, a leading genetic cause of infant deaths, prevents the body from producing a protein necessary for neuromuscular development. The deal also includes options for PTC to sell up to all of its retained royalties on Evrysdi for up to $500 million at a later date, Royalty Pharma said. Royalty Pharma expects to fund the transaction with a combination of existing cash and about $350 million from its revolving credit facility.

Persons: drugmaker Roche, Arnd, Roche, Mariam Sunny, Shilpi Majumdar Organizations: REUTERS, Royalty Pharma, PTC Therapeutics, U.S . Food, Drug Administration, PTC, Thomson Locations: Basel, Switzerland, Bengaluru

☆ Roche's Q3 sales down 3% on currency headwinds, drop in COVID sales
▼ + stars: | 2023-10-19 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Quarterly sales came in at 14.3 billion Swiss francs ($15.9 billion), the Swiss drugs and diagnostics maker said in a statement, broadly in line with analyst estimates. A high-dose version of Eylea for less frequent injections won U.S. approval in August, creating doubt among analysts that a string of forecast-beating Vabysmo sales can continue. CEO Thomas Schinecker - who is keen to restore Roche's drug development record - said he was looking to acquire drug assets in all stages of development but that there was no rush. He pointed to 10% sales growth during the quarter, excluding currency headwinds and the slump in COVID sales. However, it predicted a less pronounced decline in sales of COVID-19 products of about 4.5 billion Swiss francs, from a previous estimate of a drop of 5 billion francs.

Persons: drugmaker Roche, Arnd, Roche, Regeneron, Thomas Schinecker, Schinecker, Ludwig Burger, Friederike Heine, Elaine Hardcastle Organizations: REUTERS, Bayer, Thomson Locations: Basel, Switzerland, COVID, Swiss

☆ Ferragamo sales down in first nine months dragged by Asia and US
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Oct 19 (Reuters) - Sales at Italian luxury goods group Salvatore Ferragamo (SFER.MI) fell by 9.2% at constant exchange rates in the first nine months of the year, in line with market expectations, hit by weak demand in Asia and North America. Revenue in the period totalled 844 million euros ($892.53 million), down from 920.7 million euros a year earlier, the leather goods company said on Thursday. Analysts had expected sales of 845 million euros on average, according to a Refinitiv consensus. Asia-Pacific sales declined by 11.7% at constant currencies in the nine months, while in North America they decreased by 18.2%. Europe and Middle East posted an increase in sales of 3%.

Persons: Salvatore Ferragamo's, Arnd, Salvatore Ferragamo, Analysts, Marco Gobbetti, Audrey Hepburn, Gobbetti, Maximilian Davis, Claudia Cristoferi, Federico Maccioni, Kirsten Donovan Organizations: REUTERS, North America . Revenue, Ferragamo, Burberry, Hollywood, Thomson Locations: Zurich, Switzerland, Asia, North America, China, Europe, United States, Pacific, Middle

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last month. The EU competition watchdog and Hitachi declined to comment. The UK's competition agency cleared the deal this month after Hitachi pledged to sell its mainline signalling business in the United Kingdom, France, and Germany. ($1 = 0.9478 euros)Reporting by Foo Yun Chee; editing by Mark Potter and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee, Mark Potter, Jason Neely Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, European, EU, Thomson Locations: Zurich, Switzerland, France, Germany, United Kingdom

☆ ABB flags slowdown in fourth-quarter revenue, shares slide
▼ + stars: | 2023-10-18 | by ( Noele Illien | ) www.reuters.com time to read: +2 min

The logo of Swiss power technology and automation group ABB is seen during the company's annual news conference in Zurich, Switzerland February 28, 2019. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter after reporting a comparable 11% increase in the third quarter. "Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand," said Chief Executive Bjorn Rosengren in a statement. For the full year 2023, the group said it expected comparable revenue growth to be in the low double-digit percentage range, and an operational margin to be in the range of 16.5% to 17.0%. Previously it had said it expected revenue growth of at least 10% and an operational margin above 16%.

Persons: Arnd, France's Schneider, ABB's, Bjorn Rosengren, Noele Illien, Rachel More, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Germany's Siemens, Thomson Locations: Swiss, Zurich, Switzerland, China, United States, India, Asia, Europe

☆ Sika shares slide after EU raids companies over price-fixing suspicions
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss chemical group Sika is seen at the company's headquarters in Zurich, Switzerland October 7, 2021. REUTERS/Arnd Wiegmann Acquire Licensing RightsCompanies Sika AG FollowZURICH, Oct 17 (Reuters) - Shares in Swiss construction chemicals maker Sika (SIKA.S) fell as much as 7.4% on Tuesday after the European Commission announced antitrust raids at unnamed construction chemicals companies. Sika later confirmed that investigations had taken place in connection with a suspicion of price fixing. The European Commission said it was carrying out unannounced antitrust inspections in the construction chemicals sector in several member states, as it suspected companies of anti-competitive behaviour. Sika shares closed down 5.45% in Zurich, while the broader SMI index (.SSMI) fell 0.69%.

Persons: Arnd, Sika, Danilo Masoni, Oliver Hirt, Dhara Ranasinghe, Paul Simao Organizations: REUTERS, European Commission, European Union, Turkish, Thomson Locations: Zurich, Switzerland, Milan

☆ Tyson Foods workers, activists protest child labor in US meat sector
▼ + stars: | 2023-10-16 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 16 (Reuters) - Tyson Foods (TSN.N) workers and activists rallied outside the U.S. meat company's headquarters in Arkansas on Monday to protest the industry's use of child labor and push for improved working conditions in processing plants. Dozens of protesters marched near Tyson's offices in Springdale, Arkansas, with signs saying "Stop child labor" and "Let children be children." Tyson, the biggest U.S. meat company by sales, had no immediate comment on the protest. The company's code of conduct says suppliers are expected to ensure they do not use child labor. Asked about child labor in meat plants on Monday, the Labor Department said its Wage and Hour Division has investigations open at Tyson and Perdue Farms.

Persons: Arnd, Tyson, Biden, exploitation's, Magaly, Licolli, Perdue, Tom Polansek, Rod Nickel Organizations: Tyson Foods, REUTERS, Biden Administration, Facebook, U.S . Department of Labor, Labor Department, Tyson, Perdue Farms, Thomson Locations: Davos, Switzerland, Arkansas, U.S, Tyson's, Springdale , Arkansas, Guatemala, Tennessee

The logo of Irish services and consulting company Accenture is seen at an temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. The criminal and civil probes followed a voluntary disclosure by the unit, Accenture Federal Services, to the government, the IT service provider said in a regulatory filing. "This matter could subject us to adverse consequences," Accenture said. The unit works with the Accenture's clients in the U.S. federal government and accounted for 15% of overall fiscal 2023 revenue from North America, the company's biggest market. Reporting by Chavi Mehta in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Chavi Mehta, Arun Koyyur Organizations: Accenture, REUTERS, U.S . Justice, Accenture Federal Services, DOJ, Thomson Locations: Davos, Switzerland, U.S, North America, Bengaluru

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 11 (Reuters) - FIFA's decision to hold the 2030 World Cup in six countries with fans flying to over 100 games will increase the tournament's carbon footprint and is at odds with the soccer governing body's climate commitments, experts have warned. FIFA allocated the 2030 World Cup to Spain, Portugal and Morocco last week but also said Uruguay, Argentina and Paraguay would host three matches to mark the tournament's centenary. It is a stark contrast to the 2022 World Cup in Qatar which had only 32 teams while all 64 matches were played in eight stadiums in and around Doha. "Every decision that grows the World Cup is going to increase the carbon footprint of the event. "For the last World Cup in Qatar, travel within the country was quite minimal because the country is so small," Ross said.

Persons: Arnd, Madeleine Orr, Quentin Cuendet, Cuendet, Dr Walker Ross, Ross, it's, Aadi Nair, Rohith Nair, Christian Radnedge Organizations: REUTERS, FIFA, University of Toronto, Swiss Climate Alliance, Sport Management, University of Edinburgh, Sport Ecology, Thomson Locations: Zurich, Switzerland, Spain, Portugal, Morocco, Uruguay, Argentina, Paraguay, South America, Qatar, Doha, Swiss, le, Bengaluru

☆ S.Korea considers $50.5 mln fine against Google, Apple over app market practices
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. The Korea Communications Commission (KCC) said in a statement that the two tech giants forced app developers into specific payment methods and caused unfair delay in app review. The KCC is notifying the companies for corrective action, and will deliberate on the fines, the statement said. Google and Apple did not immediately respond to Reuters' requests for comment. After hearing from the companies, the regulator could decide to impose fines of up to 68 billion won ($50.47 million), including 47.5 billion won for Google and 20.5 billion won for Apple, KCC said.

Persons: Arnd, KCC, 1,347.3200, Joyce Lee, Shri Navaratnam Organizations: REUTERS, Rights, Google, Apple, Korea Communications Commission, Telecommunication, Thomson Locations: Zurich, Switzerland, Rights SEOUL, South Korea

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