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☆ Jeep Maker Stellantis Bets on a Chinese EV Startup, but Is It the Right One?
▼ + stars: | 2023-10-26 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Chinese companies can produce EVs 30% more cheaply than Western ones, according to Stellantis’s research. Photo: Leonhard Simon/Getty ImagesBuying into a Chinese automaker sounds like a great answer to the challenge of making cheaper electric vehicles. If only it were easier to pick winners. Chrysler owner Stellantis said Thursday that it was spending the equivalent of about $1.6 billion to buy a roughly 20% stake in Zhejiang Leapmotor Technology . It will get two board seats and become Leapmotor’s exclusive export partner via a Europe-based joint venture in which Stellantis will own 51%.

Persons: Leonhard Simon, Stellantis Organizations: Chrysler, Zhejiang Leapmotor Technology Locations: Zhejiang Leapmotor, Europe

☆ T-Mobile lifts free cash flow forecast as profit, subscriber additions beat estimates
▼ + stars: | 2023-10-25 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

T-Mobile now expects adjusted free cash flow for the year to be between $13.4 billion and $13.6 billion, compared with its prior forecast of $13.2 billion to $13.6 billion. T-Mobile added 850,000 postpaid phone customers in the third quarter, the highest among peers, beating FactSet estimates of 773,400 additions. It raised its full-year forecast for wireless subscriber net additions to between 5.7 million and 5.9 million, up from its earlier forecast of 5.6 million to 5.9 million. The telecom industry has been seeing a gradual moderation in postpaid phone net additions after hitting record levels in 2021 and 2022. Industry-wide postpaid phone net additions are expected to moderate in 2023 to 8.5 million from a near-record 9.3 million in 2022, according to analysts at Goldman Sachs.

Persons: Leonhard Foeger, Jamie Lumley, Goldman Sachs, Samrhitha, Vinay Dwivedi Organizations: Mobile, REUTERS, Verizon, Rivals Verizon, Thomson Locations: Mobile Austria, Vienna, Austria, Bengaluru

☆ China market hard going for BMW and Mercedes in third quarter
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

Mercedes-Benz's supply issues affected its global sales, which fell 4% year-on-year in July-September, although the company said it was still on track to meet its full-year guidance for flat sales growth. BMW fared better, reporting a 5.8% rise in its global retail sales to 621,699 vehicles in July-September, but said retail sales in China of BMW and Mini models dropped 1.8%. BMW said that year-to-date sales in China were up 1.7% despite the drag on sales in the third quarter, while Mercedes-Benz nine-month wholesale figures in the country were at the previous year's level. It does not disclose detailed retailed sales but a spokesperson said they were positive in the third quarter and on a nine-month basis. BMW said its global retail sales were up 5.1% so far this year.

Persons: Leonhard Simon, carmakers Mercedes, Mercedes, Carmakers, Benz, Victoria Waldersee, Miranda Murray, Friederike Heine, Susan Fenton Organizations: Mercedes, Benz, REUTERS, Rights, BMW, GLC, Thomson Locations: German, Munich, Germany, China

☆ Porsche-backed Sensigo deploys AI tools to smooth vehicle repairs
▼ + stars: | 2023-10-05 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

REUTERS/Leonhard Simon/File Photo Acquire Licensing RightsOct 5 (Reuters) - German automaker Porsche (P911_p.DE) and investor UP.Partners have launched Sensigo, a California-based startup using artificial intelligence to enable vehicle service technicians to diagnose, resolve and eventually predict repair issues. Sensigo said its AI-powered service platform and tools can improve the repair process for customers and techs, while boosting service center profitability, reducing repair costs and minimizing warranty risk. The partners’ first startup, Pull Systems, announced in March, manages electric vehicle battery performance. In addition to Porsche, UP’s investment partners include Toyota’s (7203.T) Woven Capital, Alaska Air Group (ALK.N), ARK Invest and others. Portfolio companies include aerial vehicle startups Skydio and Beta Technologies.

Persons: Leonhard Simon, UP.Partners, Sensigo, Paul Lienert, Nick Macfie Organizations: Porsche, REUTERS, Systems, Alaska Air Group, ARK Invest, Beta Technologies, Thomson Locations: German, Munich, Germany, California, Santa Monica, Capital, United States, Detroit

Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known as OPEC+, meet on Oct. 4. The panel, called the Joint Ministerial Monitoring Committee, can call for a full OPEC+ meeting if warranted. Four OPEC+ sources who declined to be named said the committee would probably not make any changes to existing policy during Wednesday's online meeting. With oil rallying, some analysts have cited an increasing probability the Saudi voluntary cuts will be reduced. The next full OPEC+ meeting is not until November.

Persons: Leonhard Foeger, Prince Abdulaziz bin Salman, Ahmad Ghaddar, Maha El, Olesya Astakhova, Alex Lawler, Dmitry Zhdannikov, Emelia Organizations: Organization of, Petroleum, REUTERS, LONDON, Oil, Brent, Saudi Energy Ministry, Saudi Energy, Saudi, OPEC, Thomson Locations: Vienna, Austria, Saudi, Russia, DUBAI, MOSCOW, OPEC, Saudi Arabia

☆ EU urges Iran to reconsider barring of IAEA inspectors
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

The Iranian flag flutters in front of the International Atomic Energy Agency (IAEA) organisation's headquarters in Vienna, Austria, June 5, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsBRUSSELS, Sept 17 (Reuters) - The European Union urged Iran on Sunday to reconsider its decision to bar multiple International Atomic Energy Agency's inspectors assigned to oversee Tehran's atomic activities, noting such oversight was part of the Iran nuclear deal. "The European Union is highly concerned by the ... decision by Iran to withdraw the official designation of several experienced IAEA inspectors to monitor and verify its nuclear programme," the spokesman for EU foreign affairs Peter Stano said in a statement. The EU urges Iran to reconsider its decision without delay," the statement said. Reporting by Jan Strupczewski, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Leonhard Foeger, Iran's, Peter Stano, Jan Strupczewski, Louise Heavens Organizations: International Atomic Energy Agency, IAEA, REUTERS, Rights, European Union, Atomic Energy, Union, Thomson Locations: Vienna, Austria, Rights BRUSSELS, Iran, United States, Britain, France, Germany, Tehran, EU

☆ IAEA chief Grossi condemns Iran's 'unprecedented' barring of inspectors
▼ + stars: | 2023-09-16 | by ( Francois Murphy | ) www.reuters.com time to read: +3 min

FILE PHOTO-U.N. nuclear watchdog chief Rafael Grossi attends a press conference during the International Atomic Energy Agency 's (IAEA) 35-nation Board of Governors meeting in Vienna, Austria, September 11, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA, Sept 16 (Reuters) - U.N. nuclear watchdog chief Rafael Grossi on Saturday condemned Iran's "disproportionate and unprecedented" move to bar multiple inspectors assigned to the country, hindering its oversight of Tehran's atomic activities. "These inspectors are among the most experienced agency experts with unique knowledge in enrichment technology," the agency said. "With today's decision, Iran has effectively removed about one third of the core group of the Agency's most experienced inspectors designated for Iran." Iran defended its move and accused the United States, Britain, France and Germany of politicising the IAEA watchdog.

Persons: Rafael Grossi, Leonhard Foeger, Iran's, Grossi, Tehran's, Nasser Kanaani, Francois Murphy, Arshad Mohammed, Mike Harrison, Ros Russell Organizations: International Atomic Energy Agency, Governors, REUTERS, Rights, International Atomic Energy, IAEA, Foreign Ministry, Iranian Government, Agency, U.S . State Department, Thomson Locations: Vienna, Austria, United States, Britain, France, Germany, Tehran, Iran, politicising, Iranian, Washington, Dubai

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsPARIS/LONDON, Sept 14 (Reuters) - Britain, France and Germany said on Thursday they would retain ballistic missile and nuclear proliferation-related sanctions on Iran that were set to expire in October under the 2015 Iran nuclear deal, a step that could provoke Iranian retaliation. The JCPoA agreed with Iran in 2015 envisaged a "Transition Day" eight years later, when remaining ballistic missile and nuclear-related sanctions on Iran would be lifted. But Britain, France and Germany will now transfer UN sanctions on Iran that are due to be lifted next month into domestic law, while Britain and the EU will retain existing sanctions, Britain's Foreign office said in a statement. The crux of the JCPoA pact, which Iran made with Britain, China, France, Germany, Russia and the U.S., limited Tehran’s nuclear programme making it harder for it to get fissile material for a bomb in return for relief from economic sanctions. We stand ready to reverse our decision, should Iran fully implement its JCPoA commitments," the E3 said, referring to a mechanism that would immediately restore all UN sanctions against Iran.

Persons: Leonhard Foeger, Josep Borrell, Donald Trump, Joe Biden’s, Sachin Ravikumar, Parisa, David Holmes, Timothy Gardner Organizations: International Atomic Energy Agency, IAEA, REUTERS, Reuters, EU, Iran, Thomson Locations: Vienna, Austria, Britain, France, Germany, Iran, United Kingdom, Ukraine, Russia, Tehran, United States, China, U.S, Dubai

☆ IAA Mobility: China's automakers take the world by storm with EV push
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Leonhard Simon/Getty ImagesEven before the show kicked off, Renault chief executive Luca de Meo was on French radio talking up the rapid advances made by Chinese EV makers. Competitors worry that Chinese brands may eventually dominate the global EV market. In Europe, the top destination for China’s car exports, sales of Chinese EVs are booming. Supply chain advantageA major factor contributing to the lower cost of Chinese EVs is the country’s dominance of the EV battery supply chain. However, geopolitical tensions could complicate Chinese EV firms’ global push.

Persons: Leonhard Simon, Luca de Meo, ” de Meo, ” “, ”, Dylan Khoo, Li Yunfei, Oliver Zipse, Khoo, It’s, — Hanna Ziady, Olesya Dmitracova Organizations: Hong Kong CNN, Visitors, Renault, Chinese EV, RTL Radio, China Association of Automobile Manufacturers, China Passenger Car Association, Union, UBS, Europe Auto, EV, New, Research, Deloitte, BMW, ABI Research, Jato Dynamics, “, China’s SAIC, MG, IAA, SNE Research Locations: China, Hong Kong, Munich, Germany, Chinese, Europe, Australia, Southeast Asia, Japan, Russia, New York, United States, France, British, United Kingdom, South Korean

☆ Siemens to invest $30 million to train U.S. EV charger technicians
▼ + stars: | 2023-09-06 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

A Siemens electric vehicle charging station is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. The Siemens Foundation is partnering with the North Carolina Business Committee for Education and the Michigan-based Electric Vehicle Infrastructure Training Program (EVITP). Siemens Foundation partners also include the National League of Cities and the National Governors Association. Etzwiler said the initiative will emphasize training for individuals in underserved and underrepresented communities, providing a path to well-paying, long-lasting jobs in the EV charging sector. Automakers support the foundation's efforts to "ensure that we've got a network of chargers across the country" to support accelerating EV production, Etzwiler said.

Persons: Leonhard Simon, David Etzwiler, EVITP, Etzwiler, we've, Paul Lienert, Aurora Ellis Organizations: Siemens, REUTERS, Companies Siemens Foundation, Siemens Foundation, North Carolina Business, Education, Infrastructure Training, EV, Motors, BMW, National League of Cities, National Governors Association, Thomson Locations: Munich, Germany, United States, Michigan, North Carolina, Canada, Detroit

☆ New EU sustainability reporting rules are a challenge, says Puma
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsCompanies Puma SE FollowLONDON, Sept 6 (Reuters) - Meeting new European Union requirements for corporate reporting on sustainability is a challenge, sportswear brand Puma's (PUMG.DE) head of sustainability said on Wednesday, ahead of what he called an "avalanche" of regulation in the bloc. "We are nowhere near being able to fulfil the requirements of CSRD," Stefan Seidel said on a panel at the Reuters IMPACT conference in London, referring to the EU's Corporate Sustainability Reporting Directive. Seidel said this was despite Puma reporting on sustainability for 20 years. Companies will have to comply with the directive - which requires them to analyse environmental risks, set targets, and get sustainability reports externally audited - in the 2024 financial year for reports published in 2025.

Persons: Leonhard Foeger, Stefan Seidel, Seidel, Puma, Helen Reid, Louise Heavens, Jan Harvey Organizations: Puma, REUTERS, Union, Reuters IMPACT, Companies, Thomson Locations: Vienna, Austria, London

German Chancellor Olaf Scholz speaks during an event at the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 5, 2023. The expansion will make range anxiety a thing of the past for EV drivers, he added. Europe's biggest economy has only 90,000 public charging points but is targeting 1 million by 2030 to boost EV take-up. Addressing the protests, Scholz said at the end of his tour: "Protests are part of public and democratic debate ... but it is a little anachronistic. On competition from China in EV production, Scholz said: "Competition should spur us on, not scare us.

Persons: Olaf Scholz, Leonhard Simon, Scholz, Victoria Waldersee, Andreas Rinke, Jan Schwartz, Friederike Heine, Sarah Marsh, Miranda Murray, David Goodman Organizations: REUTERS, Rights, IAA, EV, Sporting, BMW, Mercedes, Benz, HK, Reuters, Thomson Locations: Munich, Germany, Rights MUNICH, Europe, China, Japanese, Korea

"Chinese manufacturers will adapt vehicles to the European market step by step through user experience and customer orientation," Bosch (ROBG.UL) CEO Stefan Hartung told Reuters at Munich's IAA mobility show. Bosch's Chinese partnerships include developing Advanced Driver Assistance Systems (ADAS) for most of Chinese EV maker BYD's (002594.SZ) cars, electric motors for luxury EV maker Human Horizons and is a supplier for Nio (9866.HK). Chinese EV makers including BYD, Nio, Xpeng (9868.HK) and Leapmotor (9863.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. "When we talk to our Chinese customers, there are very concrete plans to build plants in Europe," ZF CEO Holger Klein told Reuters. Continental CEO Nikolai Setzer told Reuters the supplier expects "the Chinese to go global and build plants in Europe."

Persons: Leonhard Simon, Bosch, Stefan Hartung, Hartung, Holger Klein, Nikolai Setzer, Setzer, Nick Carey, Victoria Waldersee, Christina Amann, Zoey Zhang, David Evans Organizations: REUTERS, Rights, Reuters, BYD's, Human, HK, Europe's EV, Jato Dynamics, Friedrichshafen, ZF, Continental, Thomson Locations: Munich, Germany, China, Europe

☆ China's Leapmotor looks to sell EV tech as it targets export growth
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +3 min

"For us, to survive, we have to achieve at least 500,000 to 1 million units of annual sales globally. The top 10 automakers in the world all have annual sales of more than 4 million units. Leapmotor had sales of almost 111,000 EVs in China in 2022, up from just over 44,000 in 2021. With European automakers scrambling to take a larger share of an EV boom in China that has largely left them behind, several have been looking at or licensing EV technology developed in China. Reporting by Zhang Yan in Munich, writing by Kevin Krolicki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhu Jiangming, Leonhard Simon, Leapmotor, ” Zhu, Xpeng, Zhu, Zhang Yan, Kevin Krolicki, Hugh Lawson Organizations: REUTERS, Rights, HK, Reuters, Volkswagen, Toyota, Audi, SAIC Motor Corp, VW, Thomson Locations: Munich, Germany, China, Europe, Australia, New Zealand

Deputy Prime Minister of Russia Alexander Novak arrives for an OPEC meeting in Vienna, Austria, June 4, 2023. Russia, the world's second largest oil exporter, has been cutting output and exports in tandem with Saudi Arabia on top of existing OPEC+ supply reductions. Novak, Russian President Vladimir Putin's point man on oil, first mentioned a new deal on oil export cuts last week without disclosing parameters. Russia had said it would voluntarily cut oil exports by 500,000 barrels per day, or around 5% of its output, in August and by 300,000 bpd in September. Russia is also reducing its oil production by 500,000 bpd until the end of 2024.

Persons: Alexander Novak, Leonhard Foeger, Novak, Vladimir Putin's, Vladimir Soldatkin, Oksana Kobzeva, Mark Trevelyan, Kevin Liffey Organizations: REUTERS, Rights, Brent, OPEC, Thomson Locations: Vienna, Austria, Russia, Saudi Arabia

[1/6] A view shows model TO3 of Leapmotor, a Chinese automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they could dominate EV sales. Xpeng President Brian Gu said while European carmakers currently lag behind China, they have made a "huge commitment" to EVs with partnerships and large investments in technology. "I would never discount the large (carmakers) trying really hard to come back and focus on this important transition," Gu said.

Persons: Leonhard Simon, Luca de Meo, De Meo, Hildegard Mueller, Oliver Zipse, Oliver Blume, Brian Gu, Gu, Ferdinand Dudenhoeffer, Dudenhoeffer, Nick Carey, Victoria Waldersee, Gilles Gillaume Christina Amann, Zoey Zhang, Jan Schwartz, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: REUTERS, China EV, Renault, Reuters, HK, Europe's EV, Zhejiang Leapmotor Technology, EV, German Association of, Automotive Industry, Jato Dynamics, BMW, Benz, Klasse, Volkswagen, Auto, Thomson Locations: Munich, Germany, China, MUNICH, BYD, Zhejiang, Europe, Asia

For years, low interest rates fuelled a global boom, igniting interest in German property, seen as safe and stable as the country. The health of Germany's property sector - Europe's biggest property investment market outside of Britain - is critical, making up roughly a fifth of output and providing one in 10 jobs. Late last year, Hoeglmaier put his penthouse on the market, and Euroboden closed its Frankfurt office. In 2020, as the property market heated up, the Bundesbank warned the country's banks, for whom property accounted for about 70% of all domestic loans, of the risks. The 380-square meter (4,090 square foot) penthouse, which occupies the fifth through seventh floors and includes a rooftop terrace, originally listed for just under 13 million euros.

Persons: Leonhard Simon, Stefan Hoeglmaier, Chancellor Olaf Scholz, Tillmann Peeters, Hoeglmaier, Oscar Loya –, –, Euroboden, Daniel Bauer ,, Oliver Schartl, Loya, Christoph Niering, Matthias Inverardi, Tomasz Janowski Organizations: REUTERS, Rights, FalkenSteg, European Central Bank, Reuters, Facebook, Garden, Graphics, Thomson Locations: Munich, Germany, Europe's, Britain, Berlin, Frankfurt, Ukraine, Sweden, Europe, homebuilders, China, Evergrande

☆ Brazil's Natura mulls sale of The Body Shop
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria, June 4, 2016. REUTERS/Leonhard Foeger Acquire Licensing RightsSAO PAULO, Aug 28 (Reuters) - Brazilian cosmetics maker Natura &Co (NTCO3.SA) said on Monday its board of directors had authorized the company to search for "strategic alternatives" for its subsidiary The Body Shop, including a potential sale of the business. The move comes after the Brazilian company in April agreed to sell its luxury brand Aesop to French cosmetics group L'Oreal (OREP.PA) at an enterprise value of $2.53 billion. Natura grew through high profile acquisitions in recent years, including the purchase of The Body Shop from L'Oreal in 2017, but has now been looking for "discipline" and deleveraging as it aims to bring back profitability. "There can be no assurance that this process will result in any transaction," Natura said in a securities filing about the potential Body Shop deal.

Persons: Leonhard Foeger, Roberto Marques, Fabio Barbosa, Gabriel Araujo, Kylie Madry Organizations: REUTERS, SAO PAULO, Natura, L'Oreal, Thomson Locations: Vienna, Austria, Brazilian, Natura

☆ Austria's Uniqa and Raiffeisen to sell stake in Raiffeisen Life to Russian insurer
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of the Austrian insurer Uniqa is seen in front of its headquarters in Vienna, Austria, March 10, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsAug 24 (Reuters) - Austria's Uniqa (UNIQ.VI) and Raiffeisen Bank (RBIV.VI) are to sell their stakes in Raiffeisen Life to Russian insurer Renaissance Life, becoming the latest move by Western companies to pare back business in Russia. Uniqa held 75% of Raiffeisen Life and RBI held the remaining 25%. "This means we are withdrawing from Russia," Uniqa's Management Board Member for Customers & Markets International Wolfgang Kindl said in the statement. In the first six months of 2023, Uniqa's technical result in Russia shrank to 5.8 million euros ($6.30 million) from an adjusted 8.5 million euros in the first half of 2022.

Persons: Leonhard Foeger, Uniqa, Wolfgang Kindl, pare, Tristan Veyet, Alexandra Schwarz, Andrey Sychev, David Evans Organizations: Uniqa, REUTERS, Raiffeisen Bank, Customers, Markets, Kremlin, Erste Group, Thomson Locations: Vienna, Austria, Western, pare, Russia, Ukraine, Gdansk

☆ Arnautovic joins Inter on loan from Bologna
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - International Friendly - Austria v Scotland - Ernst Happel Stadium, Vienna, Austria - March 29, 2022 Austria's Marko Arnautovic during the warm up before the match REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsAug 16 (Reuters) - Inter Milan have signed Austrian forward Marko Arnautovic from Bologna on loan, both Serie A clubs said on Wednesday. Italian media reported that Inter paid Bologna about 10 million euros ($10.87 million) for the 34-year-old with an obligation to make the deal permanent if certain conditions are met. "A physically imposing but technically-gifted player, Marko is the complete striker and is equally talented with both feet," Inter said in a statement. Arnautovic has won 108 caps for Austria, scoring 34 goals. Inter signed French forward Marcus Thuram on a free transfer earlier in the current window.

Persons: Ernst Happel, Austria's Marko Arnautovic, Leonhard Foeger, Marko Arnautovic, Arnautovic, Jose Mourinho, Marko, Marcus Thuram, Tommy Lund, Ed Osmond Organizations: Soccer Football, Scotland, REUTERS, Inter Milan, Serie, Inter, Bologna, Austria, French, Thomson Locations: Austria, Vienna, Austrian, Bologna, San Siro, Gdansk

☆ Sterling breaks three-day fall after UK GDP beats forecasts
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File PhotoLONDON, Aug 11 (Reuters) - The pound broke three straight days of losses on Friday after data showed the British economy grew more than expected in June, which boosted sterling against the dollar and the euro. British economic output grew by 0.5% in June, figures from the Office for National Statistics showed on Friday. Sterling was last up 0.3% at $1.2708, compared with $1.2685 before the data, but was still on course for a fourth consecutive weekly loss against the dollar. The euro fell against the pound, dropping 0.1% on the day to 86.50 pence, down from 86.64 earlier on.

Persons: Pound, Leonhard Foeger, Sterling, Amanda Cooper, Samuel Indyk Organizations: Money Service Austria company's, REUTERS, Office, National Statistics, Thomson Locations: Vienna, Austria, British

☆ Austrian leader backs far-right idea of enshrining cash in constitution
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Austrian Chancellor Karl Nehammer delivers his speech during a session of the Parliament in Vienna, Austria, May 12, 2023. REUTERS/Leonhard Foeger/File PhotoVIENNA, Aug 4 (Reuters) - Austria's conservative Chancellor Karl Nehammer wants the right to use cash enshrined in the constitution, he told Austrian media in remarks published on Friday, an idea the far-right Freedom Party has been pushing for years. Most opinion polls show the anti-immigration Freedom Party (FPO) in first place with a clear lead over the opposition Social Democrats and Nehammer's conservatives, who are in a two-party coalition with the left-wing Greens. "The issue of cash is very important to people," Nehammer told Austrian media, including news agency APA. "It is important to me that cash be written into the constitution," APA quoted him as saying.

Persons: Karl Nehammer, Leonhard Foeger, Nehammer, Magnus Brunner, Herbert Kickl, Francois Murphy, Christina Fincher Organizations: REUTERS, Austrian, Party, Social Democrats, Greens, APA, Thomson Locations: Vienna, Austria

CNN —Remnants of Munich’s main synagogue, which was demolished by the Nazis in June 1938, have resurfaced – much to the amazement of the city’s Jewish community. Construction workers in the southern German city made the discovery while working on the renovation of a weir on the Isar river. Bernhard Purin, head of Munich’s Jewish museum, told CNN that he was surprised to hear the news the following day. Rubble from Munich's main synagogue was discovered at a weir on the Isar river. “The demolition of the main synagogue on Hitler’s orders marked the beginning of exclusion, persecution and destruction.

Persons: Bernhard Purin, “, ”, Mordechai Bernstein, Purin, Leonhard Moll, Charlotte Knobloch, Hitler, ” Katrin Habenschaden Organizations: CNN, Jewish Museum Locations: Munich, Germany, Austria, Jewish Museum Munich, Upper Bavaria, Nazi

☆ Iran holds talks with EU mediator Mora in Qatar
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Iranian flag flutters in front of the International Atomic Energy Agency (IAEA) organisation's headquarters in Vienna, Austria, June 5, 2023. REUTERS/Leonhard FoegerDUBAI, June 21 (Reuters) - Iran held talks in Qatar with the European Union's Enrique Mora, who coordinates talks between Tehran and six powers on reviving a 2015 nuclear pact, top Iranian nuclear negotiator Ali Bagheri Kani tweeted on Wednesday. Talks between Iran and world powers to re-establish a 2015 accord meant to curb Tehran's disputed nuclear programme in exchange for sanctions relief have stalled since last September. We exchanged views and discussed a range of issues including negotiations on sanctions lifting," Bagheri Kani said in a tweet. Reporting by Dubai Newsroom; editing by Jon Boyle and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Leonhard Foeger DUBAI, Enrique Mora, Ali Bagheri Kani, Bagheri Kani, Donald Trump, Jon Boyle, Mark Heinrich Our Organizations: International Atomic Energy Agency, IAEA, REUTERS, Mora, Dubai Newsroom, Thomson Locations: Vienna, Austria, Iran, Qatar, Tehran, Doha

Henriette Borgund knows attackers can find weaknesses in the defences of a big renewables power company - she's found them herself. She joined Norway's Hydro (NHY.OL) as an "ethical hacker" last April, bringing years of experience in military cyberdefence to bear at a time of war in Europe and chaos in energy markets. They're nervously monitoring a hybrid war where physical energy infrastructure has already been targeted, from the Nord Stream gas pipelines to the Kakhovka dam. It said Russia had tried to destroy digital networks and cause power cuts, and that missile attacks on facilities were often accompanied by cyberattacks. "Companies in the energy space, their core business is producing energy, not cybersecurity," said Jalal Bouhdada, CEO of cybersecurity firm Applied Risk, a division of DNV.

Persons: Nora Buli, Henriette Borgund, she's, shoring, Michael Ebner, cyberattacks, didn't, Swantje Westpfahl, James Forrest, Cem Gocgoren, Stephan Gerling, Mathias Boeswetter, Leonhard Birnbaum, Jalal Bouhdada, Nina Chestney, Christoph Steitz, America Hernandez, Paris Pavel Polityuk, Guy Faulconbridge, Pravin Organizations: REUTERS, Norway's Hydro, Reuters, Hydro's Oslo, Hydro, Ukraine, cyberattacks, Germany's Institute for Security, TRITON, Triton, Svenska, ICS CERT, University of Tulsa, E.ON, " Companies, Pravin Char, Thomson Locations: Norwegian, Fosen, Norway, Ukraine, OSLO, LONDON, FRANKFURT, Europe, Nord, Russia, Ukrainian, Moscow, United States, Russian, Capgemini, Saudi, Swedish, DNV, Oslo, London, Frankfurt, Paris, Kiev

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