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☆ Corruption inquiry in Australia uncovers China links to state lawmaker
▼ + stars: | 2023-06-29 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, June 29 (Reuters) - The former premier of Australia's most populous state engaged in corrupt conduct involving another lawmaker with whom she was in a secret romantic relationship, a years-long corruption inquiry that examined business dealings with China said on Thursday. The inquiry said Maguire sought to use his government office to "create a network between China and Australia and to make a commission in multiple ways". The commission found Maguire engaged in "serious corrupt conduct" between 2012 and 2018 for the migration scheme and other misconduct. It said he misused his role as chairman of the New South Wales Parliament's Asia Pacific Friendship Group to advance the commercial interests of a Chinese business association in South Pacific nations. The commission said it would seek advice from the Director of Public Prosecutions on whether further prosecutions should be commenced into Maguire.

Persons: Gladys Berejiklian, Daryl Maguire, Maguire, Berejiklian, Barry O'Farrell, Kirsty Needham, Stephen Coates Organizations: SYDNEY, New South Wales Independent, Corruption, New, Liberal, Australian Council, Australia, Pacific Friendship Group, New South Wales, Public, Maguire, Thomson Locations: Australia's, China, New, New South Wales, Berejiklian, Australia, South Pacific, Beijing, Sydney, Liaoning, New South

☆ Exclusive: US, Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process. Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International.

Persons: Liu Pengyu, ASML, Karen Freifeld, Toby Sterling, Anna Driver, Stephen Coates Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon Corp, Tokyo Electron, U.S, SMIC, International, Thomson Locations: United States, Netherlands, U.S, China, Washington, Japan, ASML'S, Almere, Amsterdam

Banks' commercial real estate portfolios performed better than expected, showing $65 billion in losses or 8.8% of average loan losses, slightly down on last year's 9.8%, the Fed said. "Some may ask how all the banks can get a regulatory thumbs-up when the industry just went through a period of turmoil. The test assesses whether banks would stay above the required minimum 4.5% capital ratio. The average capital ratio for the 23 banks was 10.1%, the Fed said. That compares with 9.7% last year, when the central bank tested 34 lenders against a slightly easier scenario.

Persons: Morgan Stanley, Goldman Sachs, Charles Schwab, Michael Barr, ” Barr, Banks, Barr, Lindsey Johnson, Dennis Kelleher, Ian Katz, Pete Schroeder, Caroline Valetkevich, Deepa Babington, Stephen Coates Organizations: Federal, JPMorgan Chase, Bank of America, Citigroup, Charles Schwab Corp, Deutsche Bank's, Financial Corp, U.S . Bancorp, Valley Bank, Wells, JPMorgan, Industry, Consumer Bankers Association, U.S, Treasury, T Bank, PNC Financial, Citizens Financial, Better, Fed, Capital Alpha Partners, Thomson Locations: Big U.S, Wells Fargo, U.S

☆ EV maker Lordstown Motors begins bankruptcy embroiled in disputes
▼ + stars: | 2023-06-28 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

[1/2] A Lordstown Motors sign is seen outside the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File PhotoNEW YORK, June 28 (Reuters) - U.S. electric truck manufacturer Lordstown Motors (RIDE.O) began its bankruptcy case embroiled in litigation, laying out disputes with estranged partner Foxconn, rival electric vehicle manufacturer Karma Automotive, the U.S. Securities and Exchange Commission and several investor groups during its first court appearance. Lordstown has alleged that Foxconn broke its promises to invest $170 million in Lordstown and collaborate with the company on vehicle development plans. Lordstown had struggled with higher-than-expected costs, production shortfalls, and litigation risk well before Foxconn agreed to purchase Lordstown's Ohio manufacturing vehicle center in 2021, Murphy said. Several investor groups have also brought claims against Lordstown, alleging that the electric truck startup misled consumers and investors.

Persons: Rebecca Cook, Foxconn, Lordstown, Thomas Lauria, Mary Walrath, Lauria, Walrath, Matthew Murphy, Murphy, Karma, James Sowka, Dietrich Knauth, Stephen Coates Organizations: REUTERS, Lordstown Motors, Karma Automotive, U.S . Securities, Exchange Commission, Taiwan's, U.S . Securities & Exchange, Lordstown, SEC, General, Thomson Locations: Lordstown, Lordstown , Ohio, U.S, Wilmington , Delaware, Delaware, Ohio, Foxconn, Delaware and Ohio, California

☆ Panama pledges to purge more substandard ships from world's largest registry
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

PANAMA CITY, June 27 (Reuters) - The Panama Maritime Authority (AMP) said on Tuesday it would continue to clean up its fleet to prevent substandard Panama-flagged ships from being detained in foreign ports, a week after the country was added to an international watch list. Panama's ships registry was last week added to the "grey list" of the Paris Memorandum of Understanding (MOU), an agreement among 27 countries establishing an international inspection regime for foreign ships in other nations' ports, aiming to control ships' safety and environmental standards. The grey list includes fleets with acceptable compliance levels but low detention rates. Panama has removed 216 vessels from its ships registry, the world's largest, since 2021, for not meeting international standards. Reporting by Elida Moreno; Writing by Sarah Morland; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Elida Moreno, Sarah Morland, Stephen Coates Organizations: PANAMA CITY, Panama Maritime Authority, AMP, Thomson Locations: PANAMA, Panama, Paris

☆ UN expert condemns 'mass deportations' of Haitians fleeing conflict
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] People carry their belongings while fleeing their homes and neighbourhood due to clashes between gangs, in Port-au-Prince, Haiti April 24, 2023. In a statement following a visit to the Caribbean nation, William O'Neill said some methods used to repatriate about 176,777 migrants last year do not comply with human rights standards and violate bilateral migration pacts. Inside Haiti, he added, "relentless violence and systematic human rights violations" do not allow for the safe and dignified return of migrants. Incidents of sexual violence in the capital Port-au-Prince doubled in May, he said, citing credible information received. A U.N. report last year found gangs were weaponizing sexual violence to control communities through fear.

Persons: Ralph Tedy Erol, William O'Neill, O'Neill, Prince, Ariel Henry, Jimmy Cherizier, Harold Isaac, Sarah Morland, Stephen Coates Organizations: REUTERS, United Nations, Haitian, Thomson Locations: Port, Prince, Haiti, Caribbean, Dominican Republic

☆ Factbox: Big banks stand strong against Fed's commercial real estate gloom
▼ + stars: | 2023-06-28 | by ( Michelle Price | ) www.reuters.com time to read: +3 min

WASHINGTON, June 28 (Reuters) - Big U.S. banks' commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve's annual health checks, with losses declining slightly on last year, the central bank said on Wednesday. With risks growing in the commercial real estate (CRE) sector globally, analysts and investors were looking to the Fed's "stress tests" for more insight on how exposed the country's lenders are to falling real estate prices. Commercial real estate (CRE), especially offices, has been hit by interest rates hikes and workers choosing to stay at home. The Fed's annual bank "stress tests" established following the 2007-2009 financial crisis probe how lenders would fare against an extreme scenario: a 40% decline in commercial real estate values. The average projected CRE loan loss rate across the group was 8.8% of average loan balances, compared with 9.8% last year, the Fed said.

Persons: Goldman Sachs, Morgan Stanley, Charles Schwab, Michelle Price, Pete Schroeder, Stephen Coates Organizations: Federal, Moody's Investors Service, Bank of America Corporation, of New York Mellon Corporation, Barclays US, BMO Financial Corp, Financial Corporation, Charles, Charles Schwab Corporation, Citigroup Inc, Financial Group, Inc, Suisse Holdings, DB USA Corporation, Goldman, Goldman Sachs Group, JPMorgan Chase & Co, T Bank Corporation, Northern Trust Corporation, PNC Financial Services Group, RBC US Group Holdings, Street Corporation, US Holdings, Truist Financial Corporation, UBS, Holding, . Bancorp, & Company, Thomson Locations: Big U.S

☆ Four more Chinese developers get refinancing approval
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, June 28 (Reuters) - Four more property developers listed in mainland China said they have received approval to refinance via share placements totalling 19.9 billion yuan ($2.8 billion), in a sign of the regulatory effort to improve liquidity in the embattled sector. Tuesday's announcements of fundraising approval came as investors expect Beijing to unveil more stimulus to revive the crisis-hit property market as part of its broader goal of shoring up the economy. State-owned China Merchants Shekou Industrial Zone (001979.SZ) was the first to receive such approval on June 16. According to state media, for developers traded on the Shanghai bourse alone, 12 companies have announced plans to seek approval for equity refinancing totalling 40 billion yuan. ($1 = 7.2277 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Yan Yuejin, Clare Jim, Stephen Coates Organizations: China Merchants, Developments, Holdings, Greattown Holdings, Hubei Fuxing Science, Technology, D Institute, Shanghai bourse, Thomson Locations: HONG KONG, China, Beijing, State, Shanghai, Shenzhen, Hubei

☆ Putin pays tribute to Russian pilots killed fighting mutineers
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +6 min

There has been no official information about how many pilots died or how many aircraft were shot down. Some Russian Telegram channels monitoring Russia's military activity, including the blog Rybar with more than a million subscribers, reported on Saturday that 13 Russian pilots were killed during the day-long mutiny. Among the aircraft downed were three Mi-8 MTPR electronic warfare helicopters, and an Il-18 aircraft with its crew, Rybar reported. It was also not clear in what circumstances the aircraft were shot down and pilots killed. Putin met on Monday night with the heads of Russian security services, including Defence Minister Sergei Shoigu, IFX reported, citing a Kremlin spokesperson.

Persons: Putin, Prigozhin, Biden, West, Vladimir Putin, Wagner, Yevgeny Prigozhin, Rybar, Sergei Shoigu, IFX, Shoigu, Alexander Lukashenko, Lukashenko, Joe Biden, John Kirby, Josep Borrell, Volodymyr Zelenskiy, Cynthia Osterman, Stephen Coates, Grant McCool, Rosalba O'Brien, Lincoln Organizations: Telegram, Reuters, Russia's Defence Ministry, Kremlin, Defence Ministry, Belarus, White House, West, NATO, Union, Thomson Locations: Moscow, Russian, Russia, Belarus, Ukraine, Luxembourg

☆ Over 1,000 Afghan civilians killed in blasts, violence since August 2021 - UN
▼ + stars: | 2023-06-27 | by ( Charlotte Greenfield | ) www.reuters.com time to read: +2 min

June 27 (Reuters) - Over a thousand Afghan civilians were killed in bombings and other violence since foreign forces left and the Taliban took over in 2021, according to a report by the U.N.'s mission to Afghanistan released on Tuesday. Between Aug. 15 2021 and May this year 1,095 civilians were killed and 2,679 wounded, according to the U.N. Mission to Afghanistan (UNAMA), underscoring the security challenges even after the end of decades of war. Though armed fighting has fallen dramatically since the Taliban took over in August 2021 as the NATO-backed military collapsed, security challenges remain, particularly from the Islamic State. The militant group was responsible for the majority of attacks, according to the UNAMA, which also noted that the deadliness of attacks had escalated despite fewer violent incidents. Just over 1,700 casualties, including injuries, were attributed to explosive attacks claimed by Islamic State, according to UNAMA.

Persons: Charlotte Greenfield, Stephen Coates Organizations: Taliban, NATO, Islamic, Security, Thomson Locations: Afghanistan, Mission, Islamic State, Emirate

☆ First U.S. malaria cases diagnosed in decades in Florida and Texas
▼ + stars: | 2023-06-27 | by ( Sharon Bernstein | ) www.reuters.com time to read: +2 min

REUTERS/Tobias Schwarz//File PhotoJune 26 (Reuters) - Five cases of malaria have been confirmed in Florida and Texas, the first time the potentially fatal mosquito-borne disease has been locally acquired in the United States in 20 years, the Centers for Disease Control and Prevention said Monday. The four Florida cases, along with one in Texas, have been diagnosed over a period of two months, the agency said. The state of Florida said that its first case was diagnosed on May 26 in Sarasota County, while officials in Texas said on June 23 that a Texas resident who worked outdoors in Cameron County had been diagnosed with the disease. The CDC said in an alert released Monday that malaria is considered a medical emergency, and that anyone with symptoms should be "urgently evaluated." However, the CDC said that risk of malaria remains low in the United States, and that most cases are acquired when people travel outside of the country.

Persons: Tobias Schwarz, Sharon Bernstein, Stephen Coates Organizations: REUTERS, Centers for Disease Control, Prevention, CDC, Thomson Locations: Leipzig, Florida, Texas, United States, Sarasota County, Cameron County, Africa

☆ Senior Russian lawmaker calls for professional army of seven million
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

Lawmaker Leonid Slutsky, who early in the 16-month war took part in peace negotiations with Ukraine, said that Russia needs a contract army of at least seven million military and civilian personnel, on top of the current conscript army. He said Wagner fighters can continue fighting with Russian army, go home or go to Belarus. At the end of 2022, Putin backed beefing up the army to 1.5 million combat personnel - including 695,000 contract soldiers - from 1.15 million. Creating a contract army of seven million would require a huge budget allowance. The Russian economy, crippled by the war and subsequent Western sanctions contracted 2.2% percent last year and is expected to rebound only marginally this year.

Persons: Leonid Slutsky, Sergei Lavrov, Sheikh Mohammed bin Abdulrahman, Evgenia, weekend's, Yevgeny Prigozhin, Wagner, Vladimir Putin, Putin, Lidia Kelly, Stephen Coates Organizations: Russia's, Russian, Qatari Deputy, Foreign, REUTERS, Liberal Democratic Party, Thomson Locations: Sheikh Mohammed bin Abdulrahman Al, Thani, Moscow, Russia, Russian, Ukraine, aborting, Belarus, Melbourne

☆ Dancing cyborgs: Japanese researchers develop robot arms to 'unlock creativity'
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

[1/4] Staff members control the robot arm control unit which is synced with wearable robot arms "Jizai Arms" which Masahiko Inami of the University of Tokyo wears during its demonstration at the school's lab in Tokyo, Japan, June 22, 2023. REUTERS/Kim Kyung-HoonTOKYO, June 27 (Reuters) - What would society look like if cyborg body parts were freely available for use like roadside rental bicycles? Masahiko Inami's team at the University of Tokyo have sought to find out by creating wearable robotic arms. A promotional video for the "Jizai Arms" shows two ballet dancers performing a routine with robotic arms protruding from their backs and torsos - human and machine moving in concert. Reporting by Anton Bridge and Tom Bateman; Editing by Chang-Ran Kim and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Masahiko Inami, Kim Kyung, Hoon TOKYO, Masahiko Inami's, Inami, Yasunari Kawabata, Anton Bridge, Tom Bateman, Chang, Ran Kim, Stephen Coates Organizations: Staff, University of Tokyo, REUTERS, Thomson Locations: Tokyo, Japan

☆ North Korea holds rallies denouncing US, warns of nuclear war
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

[1/5] People attend a mass rally denouncing the U.S. in Pyongyang, North Korea, June 25, 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). About 120,000 working people and students took part in the rallies held across the capital on Sunday, state news agency KCNA reported. Nuclear-armed North Korea has been testing various weapons including its biggest intercontinental ballistic missile, ramping up tension with the South and the South's main ally, the United States. In a separate foreign ministry report, North Korea said the U.S. was "making desperate efforts to ignite a nuclear war," accusing Washington of sending strategic assets to the region. North and South Korea remain technically at war because their 1950-53 conflict ended in a truce, not a treaty.

Persons: KCNA, Soo, hyang Choi, Stephen Coates Organizations: North, Korean Central News Agency, REUTERS, Thomson Locations: Pyongyang, North Korea, REUTERS SEOUL, United States, Sunday, U.S, North, South Korea

SYDNEY, June 26 (Reuters) - The Australian government will provide a new A$110 million ($73.5 million) package to Ukraine including 70 military vehicles to defend against Russia's invasion, Prime Minister Anthony Albanese said on Monday. The fresh commitments take Australia's total contribution for Ukraine to A$790 million, including A$610 million in military support, since the conflict began in February 2022. Australia is one of the largest non-NATO contributors to the West's support for Ukraine and has been supplying aid, ammunition and defence equipment including scores of Bushmaster armoured vehicles. To prop up Ukraine's economy and trade, Albanese said Australia will also extend duty-free access for goods imported from Ukraine for another 12 months. The latest military assistance package will include 28 M113 armoured vehicles, 14 special operations vehicles, 28 medium trucks and 14 trailers.

Persons: Anthony Albanese, " Albanese, Vladimir Putin's, Albanese, Renju Jose, Alasdair Pal, Stephen Coates Organizations: SYDNEY, Australian, Ukraine, Bushmaster, Russian Federation, Thomson Locations: Ukraine, Canberra, Russia, Russian, Rostov, Australia, Kremlin, Sydney

☆ Oil climbs, markets on edge over darkening growth outlook
▼ + stars: | 2023-06-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

S&P 500 futures were 0.2% higher and currency markets were broadly steady. The private Wagner army then withdrew after striking a deal guaranteeing their safety and the exile of their leader, Yevgeny Prigozhin, to Belarus. The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership. "As such, we are likely to see a marginal uptick in oil prices in the coming days, if the situation does not deteriorate." Elsewhere markets were already on edge about a darkening growth outlook, as China's post-pandemic recovery stalls and global interest rates remain high, and traders were unwilling to take any new positions on the basis of Russian events.

Persons: Wagner, Yevgeny Prigozhin, Vladimir Putin's, Jorge Leon, Antony Blinken, Ray Attrill, Masato Kanda, Stephen Coates Organizations: Brent, Rystad Energy, National Australia Bank, Thomson Locations: SINGAPORE, Rostov, Moscow, Ukraine, Belarus, Russia, Sydney, Asia, China, steadied

☆ Oil up, stocks dip after short-lived Russian mutiny
▼ + stars: | 2023-06-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, June 26 (Reuters) - Oil nudged higher in early trade on Monday as an abortive weekend mutiny by Russian mercenaries raised questions about crude supply, though other financial markets started steadily with investors unsure of any further immediate implications. Russian mercenaries made a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine. The private Wagner army then withdrew after striking a deal guaranteeing their safety and the exile of their leader, Yevgeny Prigozhin, to Belarus. The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership. "As such, we are likely to see a marginal uptick in oil prices in the coming days, if the situation does not deteriorate."

☆ Elton John enthralls Glastonbury in final UK show
▼ + stars: | 2023-06-25 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

GLASTONBURY, England, June 25 (Reuters) - Elton John enthralled a massive Glastonbury crowd on Sunday night in possibly his last show in Britain, delighting loyal fans but disappointing others who had hoped for star guest appearances. I never thought I'd ever play Glastonbury. And here I am," John, who wore a glittery golden jacket and rose-tinted glasses, said during the start of his first appearance at Worthy Farm. John, 76, is nearing the end of his final tour, of which Glastonbury was the last British show. Reporting by Sachin Ravikumar; Editing by Jane Merriman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Elton John, delighting, Lewis Capaldi, I'd, John, Jacob Lusk, Stephen Sanchez, Rina Sawayama, Brandon Flowers, Paul McCartney, Bruce Springsteen, Dave Grohl, Elton, Bex Whiting, you've, It's, I've, Sachin Ravikumar, Jane Merriman, Stephen Coates Organizations: Glastonbury, Foo Fighters, Thomson Locations: GLASTONBURY, England, Britain, British, Great Britain, Glastonbury

SYDNEY, June 23 (Reuters) - Australia Prime Minister Anthony Albanese said on Friday the contested site of a proposed Russian embassy was secure, after it emerged a Russian diplomat was squatting on the land following an Australian decision to cancel the lease. This month, Australia passed a law to prevent Russia from moving its embassy from a Canberra suburb to a prime site close to parliament and the Chinese embassy, citing national security concerns. The Australian newspaper reported on Thursday a Russian diplomat was squatting on the land under the watch of police, who were unable to arrest him as he has diplomatic immunity. "Australia will stand up for our values and we will stand up for our national security, and a bloke standing in the cold on a bit of grass in Canberra is not a threat to our national security," Albanese told a press conference on Friday. A view of an entrance to the site of the blocked new Russian embassy in Canberra, Australia, June 16, 2023.

Persons: Anthony Albanese, Albanese, Tracey Nearmy, Alasdair Pal, Stephen Coates, Robert Birsel Organizations: SYDNEY, Australia, Australian, REUTERS, Russia, Thomson Locations: Russian, Australia, Russia, Canberra, Sydney, Moscow

"I think most of the world is watching," Megan Davis, constitutional lawyer and Aboriginal woman who is leading the campaign for the change, told Reuters in an interview. A successful referendum will set a precedent that will be "really useful for other indigenous populations around the world in relation to recognition," Davis said. While a majority of Indigenous Australians back the change, support has been wavering at a national level, according to recent opinion polls. In the past there have been 44 proposals for constitutional change in 19 referendums, and only eight of these have passed. Pat Anderson, another Indigenous woman and campaign leader said this was the best political space Aboriginal Australians have been in since their struggle started over 200 years ago.

Persons: Megan Davis, Davis, Pat Anderson, Anderson, Stephen Coates Organizations: SYDNEY, Reuters, First Nations, Nations, UN, United, Indigenous Peoples, Australia's, Thomson Locations: Australia, Torres, Scandinavia, British, Australia's, Canada, New Zealand, United States

☆ Australia PM says no threat from Russian diplomat squatting on site of proposed embassy
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, June 23 (Reuters) - Australia Prime Minister Anthony Albanese said on Friday the contested site of a proposed Russian embassy was secure, after it emerged a Russian diplomat was squatting on the land following the government's decision to cancel the lease. Earlier this month Australia passed a law to prevent Russia from moving its embassy from a Canberra suburb to a prime site close to parliament and the Chinese embassy, citing national security concerns. The Australian newspaper reported on Thursday a Russian diplomat was squatting on the land under the watch of police, who are unable to arrest him as he has diplomatic immunity. "The site is secure and we are comfortable with our position." The Russian embassy in Canberra did not immediately respond to a request for comment.

Persons: Anthony Albanese, Albanese, Alasdair Pal, Stephen Coates Organizations: SYDNEY, Australia, Australian, Thomson Locations: Russian, Australia, Russia, Canberra, Moscow, Sydney

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Moreover, they say the tragedy of the Titan submersible that imploded during its expedition to the wreckage of the Titanic was an outlier, given that the maker of the vessel opted against certifying the vessel, defying industry convention. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

Persons: James Cameron, Oscar, Cameron, OceanGate, Will Kohnen, Kohnen, Rush, John Mauger, Ofer Ketter, Ketter, Justin Manley, Manley, Brad Brooks, Daniel Trotta, Stephen Coates Organizations: OceanGate Expeditions, REUTERS, Titan, OceanGate Inc, Everett, Triton, Vehicle, American Bureau of Shipping, Marine Technology, Stockton Rush, . Coast Guard, Marine Technology Society, Thomson Locations: Newfoundland, Everett , Washington, Costa Rica

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. But even as industry leaders braced for increased scrutiny, they said it was difficult to forecast what sort of changes may come. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

☆ Abu Dhabi's ADNOC, AI firm G42 plan IPO of technology joint venture AIQ -sources
▼ + stars: | 2023-06-22 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

DUBAI, June 22 (Reuters) - Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi artificial intelligence company G42 are having early discussions about a possible flotation of their joint venture technology firm AIQ, two sources with knowledge of the matter told Reuters. AIQ, which is 60% owned by ADNOC and 40% by G42, uses artificial intelligence and machine learning to optimise processes, improve planning and increase profitability for ADNOC and the wider oil and gas industry. AIQ recently hired veteran investment banker Youssef Salem as chief financial officer, the sources said. G42, which is backed by Abu Dhabi state fund Mubadala Investment Co, AIQ and Salem did not immediately respond to a request for comment. It listed its gas business in March after raising $2.5 billion from the IPO, which was the world's biggest in the first quarter.

Persons: AIQ, Youssef Salem, Salem, Abu, OpenAI, Sheikh Tahnoon bin Zayed, Nahyan, Sheikh Mohammed bin Zayed, ADNOC, Hadeel Al Sayegh, Stephen Coates Organizations: Abu Dhabi National Oil Company, Reuters, ADNOC, Moelis, Mubadala Investment, U.S, Microsoft Corp, Thomson Locations: DUBAI, Abu Dhabi, U.S, Salem

☆ YouTube to launch its first official shopping channel in South Korea -Yonhap
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 21 (Reuters) - YouTube will launch its first official shopping channel for live commerce in South Korea on June 30, Yonhap news agency reported on Wednesday. It is YouTube's first official shopping channel in any country, Yonhap said. "We may experiment with a variety of YouTube Shopping features from time to time," a YouTube spokesperson said, without elaborating. Shares in Naver fell 4% on Wednesday morning, while retailer Lotte Shopping (023530.KS) fell 3.3%, versus the wider market's (.KS11) 0.5% drop. South Korea's live commerce market is projected to grow to 10 trillion won ($7.7 billion) this year from 2.8 trillion won in 2021, with Naver currently holding about 60% market share, according to Kyobo Securities.

Persons: Yonhap, Philipp Schindler, Naver, 1,291.1600, Joyce Lee, Stephen Coates Organizations: YouTube, South, Lotte, Kyobo Securities, Thomson Locations: SEOUL, South Korea, Naver, KS, Lincoln

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