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☆ China's Nio calls for 'open attitude' amid EU subsidy probe
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Chinese Nio electric car is seen at Nio's first European plant and power swap station in Biatorbagy, Hungary, September 16, 2022. "We hope that the market environment can be simpler, let the market be the market. The European Commission said China's share of EVs sold in Europe has risen to 8% and could reach 15% by 2025. Its gross margin was 1% in the second quarter, versus 13% in the same quarter last year. Reporting by Zhang Yan and Brenda Goh Editing by Bernadette Baum and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

Persons: Bernadett Szabo, William Li, Qin Lihong, EVs, Ursula von der Leyen, Li, Tesla, Nio, Zhang Yan, Brenda Goh, Bernadette Baum, Philippa Fletcher Organizations: REUTERS, Rights, HK, European Commission, Chamber of Commerce, Thomson Locations: Biatorbagy, Hungary, Europe, China

Below are five charts showing what's been moved and/or shaken:1/SHOCK FOR THE STOCKSMSCI's 24-country emerging markets (EM) stocks index (.MSCIEF) is down 6% this month. It is still up for the year, though well below the 13.5% gain this year for MSCI's main global index, which has benefited from a boom in U.S. "mega-cap" stocks. "The markets that have underperformed are the lower-yielding markets like Asia," Mike Arno, a portfolio manager at Brandywine Global, said. "The market doesn't seem to think that China is a major threat," said Aegon Asset Management's head of EM debt, Jeff Grills. Reuters Graphics5/OUT OF AFRICAThe other big trouble spot has been Africa, where debt markets have seen a sharp pullback.

Persons: Jason Lee, what's, Tayyip Erdogan's, Katherine Marney, Mike Arno, Jeff, Erdogan, Van Eck's, Eric Fine, Viktor Szabo, Szabo, Marc Jones, Rodrigo Campos, Alex Richardson Organizations: REUTERS, Reuters, JPMorgan, Brandywine, FX, HK, EMBI, abrdn, Thomson Locations: Beijing, China, Africa, MIWD00000PUS, Hungary, America, Brazil, Argentina, Asia, TURKEY, Gabon, Niger, JPMorgan's Africa, London, New York

Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. Yet five foreign investors told Reuters that this week's rate hike signalled a new independence among policymakers who are serious about addressing unrelenting pressure on the currency and reining in inflation expectations. "It feels like they are correcting the mistakes they made with their first rate hike decisions," said Viktor Szabo, portfolio manager at abrdn in London. Erdogan, who has fired four central bank chiefs in four years, has said little about the rate hikes. Reuters GraphicsTurkish stock, Eurobond and CDS markets are more attractive targets this year and next, especially after the rate hike, investors and officials say.

Persons: Umit, Erdogan's unorthodoxy, Mehmet Simsek, Goldman Sachs, Tayyip Erdogan's, Viktor Szabo, Ola El, Van Eck, ERDOGAN, Erdogan, Simsek, Hafize Gaye Erkan, Cevdet Yilmaz, Blaise Antin, TCW, Kaan, Neuberger Berman, Jonathan Spicer, Marc Jones, Jorgelina, Hugh Lawson Organizations: Turkey's Central Bank, Finance, Goldman, Reuters, abrdn, Emerging Markets, Wall Street, JPMorgan, Reuters Graphics, CDS, Yeni, United Nations, International Monetary Fund, Thomson Locations: Ankara, Turkey, ANKARA, LONDON, New York, London, Van, Los Angeles, Reuters Graphics Turkish, Yeni Safak, Morocco, Japan, Singapore, Hong Kong, Istanbul, Rosario

Some investors and economic analysts are sceptical that expansion will lead to increased foreign direct investment (FDI) within the bloc. Still, BRICS leaders and other investors touted the increased economic heft from the expansion. Increasing use of national currencies to reduce U.S. dollar dependence was another goal BRICS leaders discussed at the summit in Johannesburg. And with oil producer heavyweights among the newcomers, investors said this would feed speculation that Saudi Arabia might increasingly switch to non-dollar-denominated currencies for oil trade. "The short-term consequences could be seen in oil," said Kaan Nazli, a portfolio manager at asset manager Neuberger Berman in London.

Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Viktor Szabo, Li Kexin, Ola El, Chris Turner, Jakob Ekholdt Christensen, Hasnain Malik, abrdn's Szabo, Kaan Nazli, Neuberger Berman, Rachel Savage, Karin Strohecker, Bansari Mayur, Marc Jones, Jorgelina, Emelia Sithole Organizations: Russia's, Iran, United Arab Emirates, abrdn, Emerging Markets, ING, Reuters Graphics, China, International Monetary Fund, Thomson Locations: China, India, Sandton, Saudi Arabia, UAE, Iran, JOHANNESBURG, LONDON, Argentina, Brazil, Russia, South Africa, Ethiopia, Egypt, Johannesburg, United States, Saudi, London, Van Eck, New York, Copenhagen, Dubai, Bangalore, Rosario

☆ American Holloway wins third straight world 110m hurdles title
▼ + stars: | 2023-08-21 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

[1/5] Athletics - World Athletics Championship - Men's 110m Hurdles Semi Finals - National Athletics Centre, Budapest, Hungary - August 21, 2023 Grant Holloway of the U.S. in action during heat 2 REUTERS/Bernadett Szabo Acquire Licensing RightsBUDAPEST, Aug 21 (Reuters) - American Grant Holloway raced to his third consecutive World Athletics Championships 110 metres hurdles gold medal in dominant fashion on Monday. Holloway held up three fingers after crossing the finish line, hollering "One-two-three!" to the delighted crowd at the National Athletics Centre. Hansle Parchment of Jamaica closed well to take the silver in 13.07, while Daniel Roberts of the United States crossed in 13.09 for bronze. The biggest thing is I come out there and I know what I'm going to run before I'm on track."

Persons: Grant Holloway, Bernadett Szabo, Holloway, I'm, Daniel Roberts, Roberts, Rasheed Broadbell, Lori Ewing, Ken Ferris Organizations: Athletics Centre, Rights, National Athletics Centre, Tokyo, Thomson Locations: Budapest, Hungary, Doha, Eugene, Jamaica, United States, Paris

☆ Battlefield casualties in the Ukraine war have surged to almost 500,000 killed and wounded, US officials say
▼ + stars: | 2023-08-19 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Combined casualties on the battlefield in Ukraine near 500,000, US officials said. Russia is believed to have lost as many as 120,000 soldiers, compared with 70,000 Ukrainian deaths. Meanwhile, Ukrainian deaths are estimated to be 70,000, and up to 120,000 soldiers are believed to be wounded. Accurate figures are difficult to ascertain as Kyiv does not disclose official figures, and Russian deaths are believed to be severely undercounted, the officials noted. For many weeks, hundreds of troops were killed or injured every day in the battle, US officials told The Times.

Persons: Mark Milley, Nicholas, Bernadett Szabo Organizations: Service, New York Times, The Times, Times, St, REUTERS Locations: Ukraine, Russia, Wall, Silicon, Ukrainian, Zaporizhzhia, Bernadett Szabo Ukraine, Russian

☆ Coe re-elected President of World Athletics for third time
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Athletics - Press conference for World Athletics Council election - Hungexpo Congress Centre, Budapest, Hungary - August 17, 2023 Sebastian Coe during a press conference after his re-election as World Athletics president REUTERS/Bernadett Szabo Acquire Licensing RightsAug 17 (Reuters) - Sebastian Coe was re-elected president of World Athletics for a third term, the governing body said in a statement after its 54th Congress in Budapest on Thursday. Raul Chapado, Adille Sumariwalla and Jackson Tuwei were elected vice-presidents, alongside Colombia's Ximena Restrepo, who was re-elected. The global body added that it had met its minimum gender target set out in 2016 of having 13 members of each gender elected to the World Athletics Council four years early. "But the job is not done yet and we need to keep pushing for gender parity throughout our representative bodies." World Athletics has until its 2027 Congress to meet the remaining requirement from its 2016 reform plan of having two vice presidents of each gender.

Persons: Sebastian Coe, Bernadett Szabo, Raul Chapado, Adille Sumariwalla, Jackson Tuwei, Colombia's Ximena Restrepo, Coe, Simon Jennings, Christina Fincher Organizations: Press, World Athletics, Athletics, REUTERS, World Athletics Council, Thomson Locations: Budapest, Hungary, Bengaluru

☆ Perez crashes in first Hungarian practice
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

[1/3] Formula One F1 - Hungarian Grand Prix - Hungaroring, Budapest, Hungary - July 21, 2023 Marshals remove Red Bull's Sergio Perez car from the track during practice REUTERS/Bernadett SzaboBUDAPEST, July 21 (Reuters) - Red Bull's Sergio Perez made a nightmare start to his Hungarian Grand Prix weekend by crashing after two minutes of Friday's opening practice before rain made the rest of the session largely meaningless. "I cannot believe this," said Perez over the team radio, with the stricken car looking like it had suffered some heavy damage. Perez missed the rest of the session, with the car taken back to the pits on a truck for mechanics to start what could be extensive repairs. Mercedes' seven times world champion Lewis Hamilton, winner a record eight times in Hungary, was one of the seven. Ferrari's Carlos Sainz also brought out red flags when he beached his car on a kerb at turn three with 14 minutes remaining.

Persons: Sergio Perez, Bernadett Szabo, Bull's Sergio Perez, Max Verstappen, Perez, Red Bull, Daniel Ricciardo, Christian Horner, Mercedes, George Russell, Oscar Piastri, Lance, Aston Martin, Lando Norris, Verstappen, Lewis Hamilton, Ferrari's Carlos Sainz, Alan Baldwin, Toby Davis Organizations: REUTERS, Hungarian, Red, McLaren, Aston, Briton, Thomson Locations: Budapest, Hungary, Bernadett Szabo BUDAPEST, London

☆ Thousands join Budapest Pride in protest at state's anti-LGBT moves
▼ + stars: | 2023-07-15 | by ( Boldizsar Gyori | ) www.reuters.com time to read: +2 min

BUDAPEST, July 15 (Reuters) - Thousands of Hungarians braved scorching heat for the annual Pride march in Budapest on Saturday, protesting against government controls over public displays by the LGBT community. "I think the Budapest Pride is really liberating, we can be very proud of it, but I think we are still discriminated in the grey everyday life," designer Danyi Mark. [1/5]People attend the annual Pride march in Budapest, Hungary, July 15, 2023. On Friday, the embassies of the United States, Germany and 36 other countries urged Hungary to protect LGBT rights and scrap discriminatory laws. The government stance towards Hungary's LGBT community was seen as resonating with Orban's conservative voters in the countryside ahead of his fourth-term election win in 2022.

Persons: Viktor Orban's, Gergely Varga, Danyi Mark, Bernadett Szabo, Hungary's, David Pressman, Boldizsar Gyori, Andrew Cawthorne Organizations: European Union, REUTERS, Thomson Locations: BUDAPEST, Budapest, Hungary, United States, Germany

☆ Hungarian bookstore to fight fine for sale of LGBT-themed 'Heartstopper'
▼ + stars: | 2023-07-14 | by ( Reuters Caolán Magee | Caolán Magee | ) edition.cnn.com time to read: +2 min

CNN —Hungary’s second-largest bookstore, Lira, said on Friday it plans to take legal action after it received a hefty government fine for the sale of an LGBT-themed British webcomic and graphic novel aimed at teenagers without closed wrapping. The popular “Heartstopper” series, in which two gay teens fall in love, has also been adapted by Netflix as a romantic comedy-drama. Krisztian Nyary, Lira’s creative director and a well-known author himself, told Reuters the fine was disproportionate, the law vaguely worded and that the bookstore would respond legally. Books that feature LGBTQ+ characters are seen wrapped in plastic foil in a bookstore in Budapest, Hungary, on July 11. This is not the first time a Hungarian government office has fined a bookstore for a violation of the law.

Persons: CNN —, Alice Oseman’s “, Krisztian, Bernadett Szabo, ”, “, Viktor Orban’s, ” Nyary Organizations: CNN, Lira, Netflix, Reuters, European Union, European Commission, Justice Locations: Budapest, Lira, Hungary, United States, Germany

☆ Global markets in H1: Banks vs the machines
▼ + stars: | 2023-06-30 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Linking it all has been the relentless rise in interest rates, which was exactly what battered markets in 2022. But just that this time has been different due to an unshakeable view that the end of the cycle is near. A 12%, or $6 trillion, rally in value of world stocks (.MIWD00000PUS), (.FTAWORLDSR) although it has been ominously top heavy. Thanks largely to ChatGPT, the AI boom has seen the 'Big Tech' giants enjoy a combined surge of 70%. There have also been around a total of 90 interest rate hikes this year by central banks globally versus just 17 cuts.

Persons: Andrew Kelly, Lehman, Trevor Greetham, Gold, Viktor Szabo, Tayyip Erdogan's, haven't, bitcoin, Binance, Milla Savova, Dhara Ranasinghe, Tom Wilson, Rashmi Organizations: New York Stock Exchange, REUTERS, Nikkei, LONDON, Big Tech, Apple, Microsoft, Google, Netflix, Meta, Nvidia, Royal London Asset Management, Japan's Nikkei, U.S . Federal Reserve, European Central Bank, Bank of Japan's, Silicon Valley Bank, behemoth, UBS, Treasury, Wall, BlackRock, Commodities, Thomson Locations: New York City, U.S, El Salvador, Sri, Zambia, Ukraine, Pakistan, Argentina, Japan, Egypt, Nigeria, London

☆ Analysis: Investors lament lost opportunity after unconvincing Turkish rate hike
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Murad Sezer/IllustrationLONDON, June 23 (Reuters) - Foreign investors hoping for a game-changing rate hike from Turkey's newly appointed central bank chief said Thursday's disappointing move to a key rate of just 15% could keep some money on the sidelines. "They lost one perfect chance to demonstrate that they mean business," said Viktor Szabo, emerging markets investment director with Abrdn. But analysts said that after Thursday's decision, Erkan and Simsek would need to work even harder to prove the country had indeed shifted course. Already in the week to June 16, foreign investor holdings of Turkish government bonds had fallen by $16.2 million. "I don't think investors will throw in the towel just yet because I think there is still expectation there is more to come in the coming months," said Kaan Nazli, portfolio manager at Neuberger Berman.

Persons: Murad Sezer, Thursday's, Hafize Gaye Erkan, Viktor Szabo, Abrdn, it's, It's, Tayyip Erdogan, Mehmet Simsek, Eric Fine, Marek Drimal, Simsek, Dan Wood, William Blair, Fitch, Erdogan, Erkan, Kaan, Neuberger Berman, Karin Strohecker, Marc Jones, Toby Chopra Organizations: REUTERS, Societe Generale, Thomson Locations: Istanbul, Turkey, VanEck

☆ Louisiana law would require parental permission to use social media
▼ + stars: | 2023-06-08 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

Still, the unanimous vote in both chambers of the Louisiana state legislature underscores the popularity of legislation aimed at protecting kids from online harms. NetChoice, a group that represents internet platforms including Amazon , Google , Meta and TikTok, said it opposes the Louisiana bill and hopes the governor will veto it. NetChoice Vice President and General Counsel Carl Szabo said in a statement that the Louisiana bill would also violate the First Amendment. Anonymity can be important for individuals using social media services for things like whistleblowers, victims, and those identifying crime in the neighborhood who fear backlash," Szabo said. WATCH: Sen. Blackburn says safety should come first on social media 'children have lost their lives'

Persons: NetChoice, Carl Szabo, Szabo, John Bel Edwards, Sen, Blackburn Organizations: Liberal, Google, Democratic Gov, CNBC, YouTube Locations: Louisiana, Utah, Arkansas, California, Virginia, Florida

☆ Chinese apps remain hugely popular in the U.S. despite efforts to ban TikTok
▼ + stars: | 2023-05-29 | by ( Lauren Feiner | ) www.cnbc.com time to read: +15 min

But while TikTok has been the one in the spotlight, other Chinese apps that present similar issues are also experiencing massive popularity in the U.S. Gorman said as the U.S. considers the threat posed by TikTok, it will also need to develop a framework for how to evaluate the relative risk of Chinese apps. But in the meantime, U.S. consumers continue to turn to Chinese apps. "And then of course, there's the early growth of Lemon8, which suggests that the appetite for Chinese apps in the U.S. is still growing." And some say the most effective long-term solution for curbing the use of Chinese apps may be fostering an environment for robust alternatives to grow.

☆ Montana's TikTok ban is a 'clear violation' of the First Amendment, says NetChoice VP Carl Szabo
▼ + stars: | 2023-05-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMontana's TikTok ban is a 'clear violation' of the First Amendment, says NetChoice VP Carl SzaboCarl Szabo, NetChoice VP and general counsel, joins 'Squawk Box' to discuss TikTok's legal battle with the state of Montana, and why he believes it will be a slam-dunk case for the company.

Persons: Carl Szabo Carl Szabo, NetChoice Locations: Montana

☆ Why Montana’s TikTok ban may not work
▼ + stars: | 2023-05-19 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

The TikTok ban immediately prompted one lawsuit from TikTok users who allege it violates their First Amendment rights, with more legal challenges expected. How can a state ban TikTok? Montana’s new law, SB419, makes it illegal for TikTok and app marketplaces to offer the TikTok service within state lines. How can Montana enforce a TikTok ban? But internet providers are not named as a type of entity subject to the TikTok ban.

☆ Russia's war on Ukraine latest: Russian retreats reported
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

[1/3] Ukrainian servicemen of the 128th territorial defence brigade attend a military training, amid Russia's attack on Ukraine, in Donetsk region, Ukraine, May 18, 2023. REUTERS/Bernadett SzaboMay 18 (Reuters) - Ukraine's military and Russia's Wagner private army both reported fresh Russian retreats on the outskirts of Bakhmut, as Kyiv pressed on with its biggest advance for six months ahead of a planned major counteroffensive. FIGHTING* Ukraine's military said its troops had advanced in places by more than a mile. Some of its soldiers on the front line said Russian troops were pounding supply lines to try to halt the gains. But he accused commanders of Russia's regular forces of abandoning vital ground north of the city, exposing his troops.

☆ Montana governor bans TikTok
▼ + stars: | 2023-05-17 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

Greg Gianforte signed a bill Wednesday banning TikTok in the state. The bill, which will take effect in January, specifically names TikTok as its target, prohibiting the app from operating within state lines. In a statement to CNN, TikTok said it would push to defend the rights of users in Montana. “Governor Gianforte has signed a bill that infringes on the First Amendment rights of the people of Montana by unlawfully banning TikTok, a platform that empowers hundreds of thousands of people across the state. NetChoice, a technology trade group that includes TikTok as a member, called the Montana bill unconstitutional.

☆ Explainer: Why the EU is restricting grain imports from Ukraine
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +6 min

Poland, meanwhile, received 2.08 million tonnes of corn, 579,315 tonnes of wheat and 44,114 tonnes of barley in 2022. They have, however, faced increased competition in local markets from Ukrainian grain and oilseeds. Ukrainian grain was shipped to 95 countries that season with major buyers including China, Egypt, Pakistan, Spain and Libya. This is partly because Russian wheat exports have actually risen following a record harvest last summer. A decline in Ukraine's corn exports has also been offset by a jump in shipments from Brazil.

☆ Lawmakers update Kids Online Safety Act to address potential harms, but fail to appease some activists, industry groups
▼ + stars: | 2023-05-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +8 min

Late last year, dozens of civil society groups warned Congress against passing the bill, warning it could further endanger young internet users in different ways. Blumenthal's office said it did not believe the duty of care would have applied to those sorts of groups, but opted to clarify it regardless. Moreover, parental guidance in minors' online lives is critical, but KOSA would mandate surveillance tools without regard to minors' home situations or safety. The bill also faced criticism from several groups that receive funding from the tech industry. "Protecting young people online is a broadly shared goal.

☆ Vampire straw meaning explained: A closer look at the weapon's use after it was found in luggage at the Boston Airport
▼ + stars: | 2023-04-30 | by ( Zoe Sottile | ) edition.cnn.com time to read: +1 min

CNN —A man was arrested earlier this month at Boston Logan International Airport for allegedly carrying a “vampire straw” in his carry-on luggage. What is a vampire straw? The term “vampire straw” is used to refer to a titanium straw with a pointed edge. Massachusetts police told CNN the straw confiscated from the traveler had been purchased from Szabo Inc., which sells titanium vampire straws for $85. The legality of carrying a vampire straw depends on local knife laws, the TSA’s New England office told CNN in an email.

☆ Pope, meeting Ukrainian refugees, says better future possible
▼ + stars: | 2023-04-29 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

REUTERS/Bernadett SzaboBUDAPEST, April 29 (Reuters) - Pope Francis on Saturday met Ukrainians who fled the war on Hungary's eastern border, telling the refugees that a different future is possible. "We were welcomed here and we have found a new home (but) many have suffered and suffer still because of the war," Yakovlev told the pope. Since Russia invaded Ukraine on Feb. 24, 2022, millions of refugees have fled through Central Europe, including Hungary, and moved to other countries. Later the pontiff met with Metropolitan (bishop) Hilarion, representative of the Russian Orthodox Church(ROC)in Budapest. The Russian Orthodox Church is by far the biggest of the churches in the Eastern Orthodox communion, which split with Western Christianity in the Great Schism of 1054.

[1/2] Zsolt Hernadi, Executive Chairman of Hungarian oil and gas group MOL poses during an interview with Reuters in Budapest, Hungary, April 27, 2023. Hernadi said MOL was fighting to prevent a hike in oil transit fees in Ukraine and also in Croatia. The BTC pipeline transports crude oil from offshore oil fields in the Caspian Sea to the Turkish coast. He said MOL would pay Ukraine's pipeline operator Ukrtransnafta directly for the transit of Russian oil but there was still a dispute over a Ukrainian hike in fees. "There are still disputes, discussions ongoing about the transit fee, as a multi-fold increase has been flagged (by Ukraine)."

That is because algorithms that power generative AI tools like ChatGPT and its successor GPT-4 operate in a somewhat similar way as those that suggest videos to YouTube users, the experts added. While the case does not directly relate to generative AI, Justice Neil Gorsuch noted that AI tools that generate "poetry" and "polemics" likely would not enjoy such legal protections. Section 230 protections generally apply to third-party content from users of a technology platform and not to information a company helped to develop. 'CONSEQUENCES OF THEIR OWN ACTIONS'Democratic Senator Ron Wyden, who helped draft that law while in the House of Representatives, said the liability shield should not apply to generative AI tools because such tools "create content." They said tools like ChatGPT operate like search engines, directing users to existing content in response to a query.

☆ Montana lawmakers vote to completely ban TikTok in the state
▼ + stars: | 2023-04-14 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

Washington CNN —Montana became the first US state on Friday to pass legislation banning TikTok on all personal devices, sending a bill to Gov. Greg Gianforte prohibiting TikTok from operating within state lines and barring app stores from offering TikTok for downloads. The legislation marks the furthest step yet by a state government to restrict TikTok over perceived security concerns and comes as some federal lawmakers have called for a national ban of TikTok. Individual users of TikTok, meanwhile, would not be penalized for accessing TikTok. In December, Gianforte banned TikTok from state government devices and the following month urged the Montana University System to follow suit, which it did.

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