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☆ Apple to end credit card partnership with Goldman Sachs - WSJ
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 28 (Reuters) - Apple (AAPL.O) is pulling the plug on its credit card partnership with Goldman Sachs Group (GS.N), the Wall Street Journal reported on Tuesday. Apple and Goldman had started to roll out a virtual credit card in 2019. The exit would cover their entire consumer partnership, including the savings account rolled out this year, the report added. Apple in April had introduced a high-yield deposit account, which offers an annual percentage yield higher than what Goldman offers for an online savings account at its digital consumer bank, Marcus.

Persons: Marche Saint, Gonzalo Fuentes, Goldman, Marcus, Pritam Biswas, Arsheeya, Arun Koyyur, Sherry Jacob, Phillips Organizations: Apple, Marche, Marche Saint Germain, REUTERS, Goldman Sachs, Wall Street, Mastercard, Thomson Locations: Paris, France, United States, Bengaluru

☆ Paris metro ticket price to double during 2024 Olympics
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 28 (Reuters) - Paris metro ticket prices will almost double during the 2024 Olympics, the French capital region's president said on Tuesday, adding that residents with passes would be shielded from the temporary rise and visitors would be charged "a fair price". "During the Olympics and the Paralympics, the Ile de France region will dramatically increase its transport offer. "We're going to create a new pass, the Paris 2024 pass, that will allow visitors to travel through the whole Ile de France region. Last week, Paris mayor hit out at Pecresse, saying the French capital would not be ready in terms of transport. Pecresse said that it was crucial that the Paris region residents be spared.

Persons: Gonzalo Fuentes, Valerie Pecresse, Pecresse, Clement Beaune, it's, Julien Pretot, Lucien Libert, Alexander Smith, Pritha Organizations: French, REUTERS, Rights, Paris, Thomson Locations: Paris, France, Pecresse

☆ Elon Musk begins wartime visit to Israel, aviation tracker says
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Israeli President Isaac Herzog's office announced on Sunday that Musk would be coming to meet the head of state. Musk's office had no immediate comment. Antisemitism and Islamophobia have risen in the United States and worldwide, including during the now seven-week-old war between Israel and the Islamist Palestinian faction Hamas. In exchange, Israel has been freeing some Palestinians jailed on security grounds. Writing by Dan Williams; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Isaac Herzog's, Benjamin Netanyahu, Musk's, Avi Scharf, Netanyahu, Musk, Dan Williams, Stephen Coates Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Rights, Tech, Haaretz, Palestinian, Hamas, Thomson Locations: Paris, France, Tel Aviv, Gaza, California, United States, Israel

☆ Sanofi looks to widen Dupixent use to treat 'smoker's lung' after second trial win
▼ + stars: | 2023-11-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsNov 27 (Reuters) - Sanofi (SASY.PA) plans to seek U.S. approval for it best-selling anti-inflammatory drug Dupixent to be used in the treatment of "smoker's lung", also known as COPD, after a second large trial showed significant benefits. The company had embarked on a second trial to bolster the statistical reliability of the read-outs. Details of the second trial would be presented at an as yet undisclosed medical conference, Sanofi added. The company has been discussing with major watchdogs across the world whether the BOREAS results were substantial enough to support a regulatory review and what role the second trial would play in reviews.

Persons: Sanofi, Gonzalo Fuentes, BOREAS, Ludwig Burger, Tassilo Hummel, Edwina Gibbs Organizations: Sanofi, Polyclonals, REUTERS, Food and Drug Administration, Thomson Locations: Lyon, France

More than 10 intelligence and police officials in five European countries including Britain, Germany and France told Reuters they are increasing surveillance of Islamist militants. A British security official said the war in Gaza was likely to become the biggest recruiter for Islamist militants since the Iraq war in 2003, and that calls for attacks on Jewish and Western targets had risen in Europe. Two Islamist militant attacks in France and Belgium last month killed three people, and these two countries, Austria, Slovenia and Bosnia-Herzegovina have raised their terrorism threat alert levels. LONE WOLVESSecurity officials say the main danger for Europe is probably from attacks by "lone wolves" — assailants who are radicalised, often online, but have no formal links to more established groups. Although a truce has come into effect in Gaza, both sides have said the war is far from over.

Persons: Gonzalo Fuentes, radicalised, Mark Rowley, al, Jochen Kopelke, It's, Kopelke, Israel, Peter Knoope, Knoope, Iman Atta, Germany's Kopelke, influencers, Europol, Thomas Renard, Juliette Jabkhiro, Angelo Amante, Johan Ahlander, Phil Blenkinsop, Timothy Organizations: REUTERS, Reuters, London, British, Islamic State, Islamic, WOLVES Security, Hamas, Dutch National, International Centre for, Timothy Heritage, Thomson Locations: Paris, France, BERLIN, Israel, Britain, Germany, Russia, China, Iran, Gaza, Iraq, Europe, Belgium, Austria, Slovenia, Bosnia, Herzegovina, Italy, al Qaeda, Islamic State, Qaeda, Afghanistan, Syria, United States, British, al, West

☆ Stellantis to revise up revenue target for 'circular economy' unit
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsCompanies Stellantis NV FollowTURIN, Italy, Nov 23 (Reuters) - Stellantis' (STLAM.MI) revenue target for its recycling and reconditioning unit will be raised after growing 25% so far this year, the group's Chief Executive Carlos Tavares said on Thursday inaugurating its first hub for the business. As part of its long-term business plan, the Franco-Italian group has said it aimed to generate 2 billion euros ($2.2 billion) in revenue by 2030 from its "circular economy" unit, by recycling and extending the life of parts and materials. Located in the Mirafiori complex, in Turin, the new circular economy hub focuses on life extension for parts and vehicles, component reconditioning as well as recycling materials to return to the manufacturing loop. The site, for which Stellantis has invested 40 million euros, currently employs 170 highly-trained employees, projected to rise to around 550 people by 2025.

Persons: Gonzalo Fuentes, Carlos Tavares, Tavares, Stellantis, Giulio Piovaccari, David Evans Organizations: REUTERS, Thomson Locations: Saint, Yvelines, Paris, France, TURIN, Italy, Franco, Italian, Turin

☆ Microsoft eyes seat on OpenAI's revamped board - The Information
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsNov 19 (Reuters) - OpenAI's biggest backer, Microsoft (MSFT.O), is considering taking a role on the board if ousted CEO Sam Altman returns to the ChatGPT developer, the Information reported on Sunday citing two people familiar with the talks. Microsoft could either take a seat on OpenAI's board of directors, or as a board observer without voting power, the report added. Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Sam Altman, Urvi, Rashmi Organizations: Microsoft, REUTERS, OpenAI's, Thomson Locations: Issy, Paris, France, Bengaluru

☆ White House condemns Musk for spreading 'hideous' antisemitic lie
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 17 (Reuters) - The White House on Friday accused Elon Musk of repeating a "hideous" antisemitic lie on his social media site X this week, calling it an "abhorrent promotion of antisemitic and racist hate" that "runs against our core values as Americans." Representatives for Musk or X could not immediately be reached for comment on the White House statement. X earlier declined to comment on Musk's post, which endorsed a post that falsely claimed members of the Jewish community were stoking hatred against white people. Antisemitism has been on the rise in recent years in the United States and worldwide. Reporting By Jarrett Renshaw, Steve Holland and Sheila Deng; Writing by Susan Heavey; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Andrew Bates, Linda Yaccarino, Adolf Hitler, Musk, Jarrett Renshaw, Steve Holland, Sheila Deng, Susan Heavey, Daniel Wallis Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Representatives, IBM, Nazi Party, Hamas, Defamation League, Thomson Locations: Paris, France, Israel, United States, Palestinian

☆ 'Ridiculous' US lawsuit by Musk's X Corp should be dismissed -hate speech watchdog
▼ + stars: | 2023-11-17 | by ( Jonathan Stempel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 17 (Reuters) - A nonprofit that monitors online hate speech urged a U.S. federal judge to throw out what it called a "ridiculous" lawsuit by Elon Musk's X Corp to stifle free expression. "Fortunately, state and federal free speech protections cannot be so easily evaded." In September, X sued California to block the state from enforcing a law requiring that social media companies publish policies for policing misinformation, harassment, hate speech and extremism. X said the law, Assembly Bill 587, violates its free speech rights. The case is X Corp v. Center for Countering Digital Hate Inc et al, U.S. District Court, Northern District of California, No.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Elon Musk's, X, Musk, Adolf Hitler, Bill, Jonathan Stempel, David Gregorio Our Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Corp, Center, X Corp, IBM, Court, Northern District of, Thomson Locations: Paris, France, San Francisco federal, California, U.S, Northern District, Northern District of California, New York

☆ Elon Musk Said Antisemitic Social-Media Post Was ‘the Actual Truth’
▼ + stars: | 2023-11-16 | by ( Jennifer Calfas | ) www.wsj.com time to read: 1 min

Elon Musk has come under fire from Jewish advocacy organizations because of a reported rise in antisemitic posts on X. Photo: gonzalo fuentes/ReutersElon Musk agreed with a post on X that said Jewish people hold a “dialectical hatred” of white people, eliciting a new round of criticism that he promotes antisemitic views. Musk, the billionaire owner of X Corp., formerly Twitter, responded to a user’s post Wednesday that espoused an antisemitic conspiracy theory with: “You have said the actual truth.”

Persons: Elon Musk, gonzalo fuentes, ” Organizations: X Corp, Twitter

☆ US SEC presses judge to force Elon Musk to testify in Twitter probe
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

In a document filed in federal court in San Francisco on Thursday, the SEC defended its efforts to compel Musk's testimony, saying agency officials are acting within their authority. The SEC last month said it was investigating Musk's 2022 purchases of stock in Twitter -- which Musk subsequently renamed X -- and his statements and SEC filings relating to his takeover of the social media giant. Musk had refused to attend a September interview for the probe, the SEC said. Musk and his lawyers on Nov. 2 asked the judge to deny the SEC's motion to compel his testimony, saying Musk had already testified twice and that the agency was exceeding its authority. But the SEC on Thursday rejected those claims, saying agency officials are indeed granted authority by law to seek testimony and documents as they pursue their investigative work.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, Chris Prentice, Michelle Price Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, Thomson Locations: Paris, France, San Francisco

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Renault sets out targets for EV unit, says won't sell it cheap
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, forecast 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031. Finance chief Thierry Pieton told reporters ahead of the presentation Renault would not sell off Ampere cheap and had ample cash flow to keep financing it should it not get the valuation it wanted for an IPO. Asked if Renault could decide to distribute Ampere shares to existing Renault shareholders instead of proceeding with an IPO, he said: "Renault is always open to other options for Ampere, but the IPO is the preferred option." Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time."

Persons: Gonzalo Fuentes, Luca de Meo's, Thierry Pieton, Ampere, Pieton, Renault, Gilles Guillaume, Silvia Aloisi Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, Finance, Thomson Locations: Porte, Paris, France, Europe

☆ Alstom takes the direct route to lower credibility
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsLONDON, Nov 15 (Reuters Breakingviews) - Alstom’s (ALSO.PA) problems are piling up. Alstom’s headaches, which include an inventory build-up, project delays and an order slowdown, haven’t materially changed. But to retain its investment grade credit rating the group needs to slash net debt that has jumped 50% to 3.4 billion euros since March. But as Denmark’s Orsted (ORSTED.CO) has found, the only thing investors dislike more than operational upheaval is a message that constantly changes. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Gonzalo Fuentes, Henri Poupart, Lafarge, George Hay, taints, Lisa Jucca, Oliver Taslic Organizations: Alstom, REUTERS, Reuters, Caisse, X, Thomson Locations: Saint, Ouen, Paris, France

☆ Renault seeks to charge up investors for EV unit IPO
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

De Meo has targeted a valuation of 8-10 billion euros ($8.6-10.7 billion) for the initial public offering (IPO) of Ampere, which has already been delayed once and is now slated for spring 2024. Two of the sources said Renault was unlikely to go ahead with the IPO if the valuation falls below 7 billion euros, and one said the cut-off point could be closer to 6 billion euros. UBS analysts have valued Ampere at just 3-4 billion euros, and others have questioned the rationale of listing the EV business to raise funds. On Wednesday, De Meo will argue his case for what could be the first attempt by a traditional automaker to unlock value from an EV business via an IPO. Over the first nine months of 2023, Renault brand EV sales fell by around 5% in Europe, having been up 2.5% in the first half, weighed down by a limited line-up.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Renault, BEV, de Meo, Elon Musk's Tesla, Zoe, Silvia Aloisi, Mark Potter Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, UBS, ICE, Jefferies, Nissan, Elon, EV, Thomson Locations: Porte, Paris, France, Europe

Visitors cast their shadows past the logo of Google at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "The payments that Google makes reflect that competition," he said. Murphy also argued that the payments to device makers and others were often passed through to users in the form of a cheaper phone or better data plan. Further, Murphy argued that while Microsoft had virtually all the preinstalled browser defaults in early 2010s, its Bing search engine got just 15% of search queries. Reporting by Diane Bartz Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Kevin Murphy, Apple, Murphy, Diane Bartz, Marguerita Choy Organizations: Google, Viva Technology, Porte de, REUTERS, Microsoft, Apple, University of Chicago Booth School of Business, Big Tech, Thomson Locations: Porte, Paris, France, WASHINGTON

☆ Elon Musk biopic rights clinched by A24, Darren Aronofsky to direct - source
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 10 (Reuters) - A biopic on Elon Musk is in the works at New York-based studio A24 with "Black Swan"-filmmaker Darren Aronofsky as the director, according to a source familiar with the matter. A24 secured the rights to Walter Isaacson's biography on the world's richest person, according to the source, who added the Musk biopic will be produced by Aronofsky's production company, Protozoa Pictures. He is one of the best," Musk said in an X post on Friday. The book on Musk was released by private equity firm KKR-owned book publishing powerhouse Simon & Schuster in September. The billionaire bought social media platform X, formerly known as Twitter, last year for $44 billion after a six-month saga.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Darren Aronofsky, Walter Isaacson's, Darren, Musk, Brendan Fraser, Walt Disney, Steve Jobs, Michael Fassbender, Simon, Simon & Schuster, Dawn Chmielewski, Harshita Mary Varghese, Akash Sriram, Shinjini Organizations: Elon, SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Walt, Apple, Universal, KKR, Simon &, Reuters, Boring Company, Thomson Locations: Paris, France, New York, Los Angeles, Bengaluru

☆ Actor Catherine Deneuve opens Paris store Printemps' holiday display
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

[1/5] A shopper takes picture of the festive window decorations for the Christmas season at Printemps Haussmann department store in Paris, France, November 9, 2023. REUTERS/Gonzalo Fuentes Acquire Licensing RightsPARIS, Nov 9 (Reuters) - French actor Catherine Deneuve kicked off the holiday shopping season in Paris on Thursday, presiding over a ribbon-snipping ceremony for the Christmas window displays of department store Printemps. The Boulevard Haussmann store was outfitted with tags that fluttered under the awning, while puppet seagulls and owls made of paper flapped in the windows among piles of wish lists. Cooler weather in October and November contributed to a rebound in sales, however, according to Stephane Roth, general manager marketing, communication and architecture of the Printemps group. As for holiday meals, Deneuve said it was best to "stick with the classics", including foie gras and chestnuts.

Persons: Gonzalo Fuentes, Catherine Deneuve, Deneuve, Stephane Roth, Bernadette Chirac, Bernadette, I've, Mimosa Spencer, Ed Osmond Organizations: REUTERS, Rights, Thomson Locations: Printemps Haussmann, Paris, France, Printemps, Haussmann

☆ Renault cuts Nissan stake to 15% after transferring shares to trust
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO-The logos of car manufacturers Renault and Nissan are seen in front of dealerships of the companies in Le Coteau, France, July 13, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsTOKYO, Nov 8 (Reuters) - France's Renault (RENA.PA) has cut its stake in Nissan (7201.T) to 15% from about 43% by placing 28.4% of the Japanese automaker in a French trust, the companies said in an alliance statement, putting them on equal footing. The new agreement for the restructured alliance between Renault, Nissan and their junior partner Mitsubishi Motors (7211.T) came into effect on Wednesday, the car makers said in the statement. The companies had already said in January that Renault would put roughly 28% of Nissan in a French trust to make them more equal partners. ($1 = 0.9359 euros)Reporting by Daniel Leussink; Editing by Christian Schmollinger and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, France's, Ampere, Daniel Leussink, Christian Schmollinger, Gerry Doyle Organizations: Renault, Nissan, REUTERS, Rights, France's Renault, Mitsubishi Motors, Mitsubishi, Thomson Locations: Le Coteau, France, London

☆ Unifor members ratify new contract with Stellantis in Canada
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 6 (Reuters) - Canadian labor union Unifor said on Monday its members voted in favor of a new contract with Chrysler-parent Stellantis (STLAM.MI). Unifor reached a tentative deal with Stellantis on Oct. 30 after a brief strike at the Franco-Italian automaker's facilities in Canada. The agreement was ratified after positive votes from members at Stellantis facilities in Windsor, Brampton, Etobicoke, Mississauga and Red Deer. Unifor used the "pattern bargaining" approach in its talks with the automakers, reaching a deal first with Ford (F.N) and General Motors (GM.N). Meanwhile, more-than-a-month old strike by the United Auto Workers (UAW) union against the Detroit Three automakers in the United States also ended in October.

Persons: Gonzalo Fuentes, Unifor, Stellantis, Aishwarya Jain, Shivansh, Shounak Dasgupta Organizations: REUTERS, Chrysler, Stellantis, Franco, Detroit Three, Dodge, Ford, General Motors, United Auto Workers, UAW, Thomson Locations: Saint, Yvelines, Paris, France, Italian, Canada, Windsor , Brampton, Etobicoke, Mississauga, Red Deer, Brampton, Ontario, United States, Bengaluru

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNEW YORK, Nov 2 (Reuters) - Amazon.com Inc (AMZN.O) punished its own sellers to limit Walmart's reach as Walmart got into e-commerce, according to the Federal Trade Commission (FTC). Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers. This, Amazon realized, could result in sellers passing on those savings to customers, the FTC said. To hamstring Jet.com, Amazon removed some third-party sellers' offers from its Buy Box. Amazon spokesperson Tim Doyle said the FTC "grossly mischaracterizes" the pricing tool and the company stopped using it several years ago.

Persons: Gonzalo Fuentes, it's, Burt Flickinger, Jet.com, Tim Doyle, Siddharth Cavale, Vanessa O'Connell, Lisa Shumaker Organizations: Viva Technology, Porte de, REUTERS, Amazon.com Inc, Walmart, Federal Trade Commission, Jet.com, Amazon, FTC, Jet, Thomson Locations: Paris, France, New York

☆ UK secures commitments from Amazon and Meta over retail platforms
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Amazon is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Britain's competition watchdog said on Friday it had accepted commitments from tech companies Meta (META.O) and Amazon (AMZN.O) to help protect fair competition on their retail platforms. The commitments from the U.S. tech giants mark the end of the Competition & Markets Authority's (CMA) investigation into Amazon Marketplace and Meta's use of advertising data. Amazon has committed to not use rival sellers' marketplace data to gain an unfair advantage, ensuring that third-party marketplace sellers can compete on a level-playing field, the CMA said. CMA in July had said that Amazon's offer to change the way it treats third-party sellers using its Marketplace platform addresses competition concerns in its preliminary view.

Persons: Gonzalo Fuentes, Meta, Kylie MacLellan, Farouq Suleiman, Radhika Anilkumar, William James, David Evans Organizations: Viva Technology, Porte de, REUTERS, Competition, Amazon Marketplace, CMA, Facebook, Thomson Locations: Paris, France, U.S, London, Bengaluru

NII at the French retail division fell by 27% in the quarter, excluding two regulated savings accounts, "well below expectations," JP Morgan said in a note to clients. The French lender said it now saw NII of its French retail, private banking and insurance division falling by more than 20% in 2023. The French retail division's earnings also suffered from hedging contracts against the risks of low interest rates. SocGen's shares had edged up 0.6% by 0924 GMT. The bank has also finalised the merger of its two French retail networks.

Persons: Gonzalo Fuentes, JP Morgan, SocGen, Slawomir Krupa, Jefferies, Krupa, ALD, Mathieu Rosemain, Silvia Aloisi, Ingrid Melander, Emelia Organizations: Societe Generale, La Defense, REUTERS, European Central Bank, BNP, Deutsche Bank, Barclays, Thomson Locations: La, Paris, France

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

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