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MOSCOW, Oct 17 (Reuters) - Russian homeware goods retailer Williams et Oliver is considering an initial public offering in the next five years, the financial director of parent company Patriot Group said on Monday. "There are plans," Marina Shevlyakova, financial director of Patriot Group, told an online conference marking Patriot's debut placement of three-year bonds worth 200 million roubles ($3.23 million). We have plans to take a leading position (in the sector), and the only path for a market leader is an IPO," she said. Williams et Oliver aims to increase annual revenue to 2.3 billion roubles by 2025, from 861 million roubles in 2021, and boost net profit to 134 million roubles, from 61 million roubles. Patriot Group head Dmitry Shirokov said Williams et Oliver plans to expand in Russia and enter Kazakhstan.
K-pop stars BTS to serve military duty
  + stars: | 2022-10-17 | by ( Soo-Hyang Choi | ) www.reuters.com   time to read: +2 min
SEOUL, Oct 17 (Reuters) - K-pop boy band BTS will go off on mandatory military service, starting shortly with oldest member Jin, their agency said on Monday. Since their 2013 debut, BTS have became a worldwide sensation with their upbeat hits and social campaigns aimed at empowering youth. All other members will also serve the mandatory military duty according to their respective plans, it added. BTS announced a break in June from group musical activities to pursue solo projects, raising questions about the band's future. Register now for FREE unlimited access to Reuters.com RegisterReporting by Soo-hyang Choi; Editing by Tom Hogue and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
EU Commission to propose potential 'dynamic' gas price cap
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +3 min
Register now for FREE unlimited access to Reuters.com RegisterThe Commission is recommending potential interventions in the Dutch Title Transfer Facility (TTF) price that is widely used in Europe for contracts and hedging. The EU executive would "as a last resort" propose establishing a market "dynamic" price at which natural gas transactions can take place in the TTF spot market under specific conditions. Other EU gas trading hubs would be linked to the corrected TTF spot price via a dynamic price corridor. "As a result of falling gas prices, this proposal shows that the appetite for ambitious reform, such as a price cap, is fading," said Georg Zachmann, an energy expert at think tank Bruegel. The proposals will need approval by EU governments, which have bickered for more than a month since the Commission first proposed a price cap only on Russian gas in early September.
BRUSSELS, Oct 13 (Reuters) - Alphabet (GOOGL.O) unit Google could face antitrust charges next year over its digital advertising business, with EU regulators frustrated over the slow pace of settlement talks with the company, people familiar with the matter said on Thursday. The European Commission launched an investigation into Google's adtech business in June last year, concerned that the U.S. tech giant may be getting an unfair advantage over rivals and advertisers. Google has racked up more than 8 billion euros ($7.7 billion) in EU antitrust fines in the last decade. The EU competition enforcer is likely to issue the charges early next year although the timing may still change, one of the people said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Foo Yun Chee, additional reporting by Paresh Dave in Oakland, California; Editing by Susan Fenton and David EvansOur Standards: The Thomson Reuters Trust Principles.
However, the central bank later officially reiterated that its programme of temporary gilt purchases will end on Oct. 14. UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the BoE's Friday deadline. The yen "has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank. Investors were focusing on U.S. core inflation data due later, which is projected at 6.5% year-on-year in September. Minutes from the Federal Reserve's policy meeting last month showed that officials agreed they needed to raise interest rates to a more restrictive level - and then keep them there for some time - to meet their goal of lowering "broad-based and unacceptably high" inflation.
AMSTERDAM, Oct 13 (Reuters) - Shares in Dutch semiconductor equipment maker ASML (ASML.AS) fell 7% on Thursday after its biggest customer Taiwan Semiconductor Manufacturing Co (TSMC) cut its forecasts for capital spending by 10% this year, citing in part equipment delays. ASML, Europe's largest technology company, did not immediately respond to requests for comment. The company's shares were down 7.0% at 385.10 euros ($371.93) at 1259 GMT. ASML has forecast third quarter sales of 5.1 billion -5.4 billion euros ($4.93 billion-$5.22 billion). ($1 = 1.0354 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Toby Sterling; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Ocado shares jump over 10% on Kroger/Albertsons merger report
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: +1 min
Kroger is in talks to merge with Albertsons, Bloomberg News reported, citing people familiar with the matter. Register now for FREE unlimited access to Reuters.com RegisterOcado struck a deal with Kroger in 2018 to help the U.S. firm ratchet up its delivery business with the construction of robotically operated warehouses. The initial deal saw Kroger identify at least 20 sites to build automated warehouses, or customer fulfilment centres (CFCs) as Ocado calls them, in the United States. Ocado reported in May that six Kroger CFCs were live. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
A logo of the Polish Central Bank (NBP) is seen on its building in Warsaw, Poland, September 8, 2022. REUTERS/Kacper Pempel/File PhotoWARSAW, Oct 11 (Reuters) - Poland's central bank Governor Adam Glapinski and four other rate setters threatened legal action on Tuesday against some members of the Monetary Policy Council over public statements they have made about policy. The other members of the MPC are Tyrowicz, Litwiniuk and Ludwik Kotecki, a former deputy finance minister who has been critical of monetary policy. At a press conference last Thursday, Glapinski criticised MPC members who "take 37,300 zlotys ($7,437.69) a month for participating in one meeting during the month and criticise the actions of the whole body". The central bank kept its main interest rate at 6.75% at its Oct. 5 meeting following a run of 11 consecutive hikes.
Iceland tops global pensions league, Britain slips -survey
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Oct 11 (Reuters) - Iceland offers the best pension provisions, followed by the Netherlands and Denmark while Britain slipped a spot to 10th place in the world ranking, an annual survey showed on Tuesday. Mexico shot eight places up the rankings to 29 due to pension reform, Mercer said. The survey compares 44 retirement income systems globally and covers 65% of the world’s population. "Policymakers must do all they can to ensure retirement schemes are supported, developed and well-regulated." Register now for FREE unlimited access to Reuters.com RegisterReporting by Carolyn Cohn; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.
Factbox: Companies sell their businesses in Russia
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +9 min
The logo of French tyre maker Michelin is seen at a company building in Boulogne-Billancourt, near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier/File PhotoOct 10 (Reuters) - Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they seek to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. Below is a list of firms by sector that have sold their businesses in Russia:AUTOS** British car distributor Inchcape (INCH.L) sold its Russian business to local managementRegister now for FREE unlimited access to Reuters.com Register** Italian truck and bus maker Iveco (IVG.MI) transferred its 33% stake in its AMT truck assembly joint venture in Russia to a local partner** French tyre maker Michelin (MICP.PA) intends to transfer its activities in Russia to a new entity under local management by end-2022** French carmaker Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to a Russian science institute, and transferred all shares in Renault Russia to the city of Moscow** MAN Truck & Bus and Scania, units of German truck maker Traton (8TRA.DE), expect to sell their sales companies in Russia to local partners along with Scania's Russian financing business by Q1 2023BANKS** Britain's HSBC (HSBA.L) agreed to sell its Russian business to Expobank, subject to regulatory approvals in Russia** Czech investment group PPF sold its Russian banking assets, including consumer lender HCFB and its subsidiaries, to investors led by Ivan Tyryshkin** France's Societe Generale (SOGN.PA) sold its Russian business Rosbank (ROSB.MM) to Interros Capital, a firm linked to Russian oligarch Vladimir PotaninCONSUMER ELECTRONICS** Swedish home appliance maker Electrolux (ELUXb.ST) transferred its business in Russia to local management** Its Electrolux Professional (EPROb.ST) branch also sold its Russian business to local management** Whirlpool (WHR.N) sold its Russian operations to Turkey's Arcelik (ARCLK.IS)ELECTRICAL COMPONENTS & EQUIPMENT** Finland's Boreo (BOREO.HE) sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni** U.S. industrial firm Emerson Electric (EMR.N) agreed to sell its Russia business to the local management** Finnish elevator maker Kone (KNEBV.HE) expects to close the sale of its Russian business to local management in Q4 2022** France's Schneider Electric (SCHN.PA) expects to close the sale its Russian unit to local management by end-2022** U.S. elevator maker Otis (OTIS.N) sold its Russia business to local investment firm Ice DevelopmentENERGY** French industrial gases producer Air Liquide (AIRP.PA) agreed to shift its Russian assets to local management, subject to regulatory approvals in Russia** Baker Hughes (BKR.O) agreed to sell its oilfield services business in Russia to local management, with closing expected in H2 2022** Italian utility Enel (ENEI.MI) sold its 56.43% stake in Enel Russia to Lukoil (LKOH.MM) and private fund Gazprombank-Frezia** Norway's Equinor (EQNR.OL) transferred assets of its Russian oil and gas joint ventures to state-owned partner Rosneft (ROSN.MM), and its 30% stake in the Arctic Kharyaga oilfield to state-controlled Russian operator Zarubezhneft** U.S. oilfield services firm Halliburton (HAL.N) sold its Russia operations to a management team made up of former employees** Oil major Shell (SHEL.L) sold its Russian retail and lubricants business to Lukoil** Singapore-based commodities trader Trafigura sold its 10% stake in Vostok Oil project in Siberia to Hong Kong-registered trading firm Nord Axis** Total Energies (TTEF.PA) sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and its 49% stake in Terneftegaz to joint venture partner NovatekFOOD & BEVERAGES** Finland's Atria (ATRAV.HE) sold its fast food business in Russia, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM)** Finland's Fazer sold its Russian unit to Moscow's Kolomenskij Bakery and Confectionery Holding** Irish ingredients giant Kerry Group (KYGa.I) sold its Russian subsidiary to local management and agreed to offload its Belarusian unit to a local operator** Fast food chain McDonald's (MCD.N) sold its Russian business to its licensee Alexander Govor** Finnish food and drinks company Paulig sold its operations in Russia to private Indian investor Vikas Soi** Yum Brands (YUM.N) sold its Pizza Hut business in Russia to a local operator** Finnish food processing firm Raisio (RAIVV.HE) sold its consumer business in Russia to Copacker Agro** Finnish dairy producer Valio sold its Russian business to GK VelkomINDUSTRIAL MACHINERY** Polish measuring devices maker Apator's (APTP.WA) Powogaz unit divested its entire stake in Russia-based AO Teplovodomer** Danish industrial firm Danfoss agreed to sell its Russian and Belarusian business to local management, subject to approval by shareholders and regulatory approvals in Russi
LONDON, Oct 10 (Reuters) - A British court has granted permission for U.S.-based hedge fund Elliot Associates and Jane Street Global Trading to sue the London Metal Exchange (LME) for cancelling nickel trades in March, a court document showed. Elliott and Jane Street are demanding damages of $456.4 million and $15.34 million respectively, after the nickel price topped a record $100,000 per tonne on March 8, prompting the LME's suspension of nickel trading and voiding of trades. The nickel trading episode has been the biggest crisis to hit the world's oldest metals forum in decades. "The LME therefore continues to consider that Elliott's and Jane Street's grounds for complaint are without merit, and the LME will defend any judicial review proceedings vigorously." Elliott Associates declined to comment and Jane Street did not immediately respond to a request for comment.
Members of the Royal Swedish Academy of Sciences Tore Ellingsen, Hans Ellegren and John Hassler announce the 2022 Nobel Prize for Economic Sciences, during a news conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden October 10, 2022. The winners are Ben S. Bernanke (USA), Douglas W. Diamond (USA) and Philip H. Dybvig (USA). "Some households and some firms are already weakened," Gernot Doppelhofer, professor at the economics department of the Norwegian School of Economics (NHH) said. The economics prize is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel. It was established by Sweden's central bank and first awarded in 1969, its full and formal name being the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Oct 10 (Reuters) - The Ukrainian energy ministry said it will halt exports of electricity to the European Union following Russian missile strikes on energy infrastructure on Monday. "Today's missile strikes, which hit the thermal generation and electrical substations, forced Ukraine to suspend electricity exports from Oct. 11, 2022 to stabilize its own energy system," the ministry said in a statement on its website. Register now for FREE unlimited access to Reuters.com RegisterUkraine's energy minister Herman Halushchenko said the attacks on the energy system were "the biggest during the entire war." In a TV broadcast he said that missile strikes "on the entire chain of supply (were made) in order to make switching supply as difficult as possible." In June, Ukrainian energy ministry said it was hoping to bring in 1.5 billion euros ($1.45 billion) from electricity exports to the EU, its main export market for energy since the war began, by the end of the year.
FRANKFURT, Oct 10 (Reuters) - A Pfizer (PFE.N) executive with a lead role in negotiating a COVID-19 vaccine bulk supply agreement with the European Commission "categorically" ruled out that the U.S. drugmaker's chief executive agreed the contract via mobile phone text messages. She added that such talks involve far too many people on both sides and take far too long to be conducted via mobile phone texts. The Commission said in June this year that it no longer had the texts, which later drew criticism from the European Union's ombudswoman. The contract signed last year was the biggest ever sealed for COVID-19 vaccines, with the EU committing to buy 900 million Pfizer-BioNTech (22UAy.DE) shots, with an option to buy another 900 million. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ludwig Burger; Editing by Jan Harvey and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Factbox: Companies potentially affected by Italy's election
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +5 min
A woman walks at a polling station during the snap election in Rome, Italy September 25, 2022. read moreHere is a list of companies that could be affected by the outcome of the election. The change of government and calls by Meloni to revisit Italy's national recovery plan could threaten Italy's ability to meet the commitments to which European Union post-pandemic funds are tied. Brothers of Italy welcomed CDP's decision to wait for the election before filing its non-binding bid for TIM's network. read moreBrothers of Italy has called for the new government to be allowed to make a final decision on ITA.
The International Monetary Fund logo is seen at IMF headquarters in Washington, U.S., October 14, 2017. Ghana turned to the IMF for help in July as its balance-of-payments deteriorated and hundreds took to the streets to protest against economic hardship. An IMF staff team briefly visited the country two weeks later. Reuters' reported last week that an IMF team would visit Ghana this week. The IMF, in a statement on Sunday, said the team would arrive on Monday and stay until Oct. 7.
Iran summons UK and Norwegian envoys as unrest persists
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +4 min
Protestors stand in solidarity with Iranian women after the death of Mahsa Amini, in London, Britain September 24, 2022. He also said that "acts of chaos" were unacceptable and that Iran must deal decisively with the unrest. At the United Nations, he said extensive coverage of Amini's case was "double standards", pointing to deaths in U.S. police custody. The Norwegian envoy was also summoned to explain the "interventionist stance" of the country's parliament speaker, who has expressed support for the protesters on Twitter. State media said 12 bank branches were destroyed in the unrest in recent days, and 219 ATMs have been damaged.
Bangladesh ferry accident kills 25, several missing
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +1 min
The bodies recovered so far included 12 women and eight children, said Jahurul Islam, district administrator of northern Panchagarh, where the accident occurred. "The rescue operation for those missing is ongoing," he said, adding the ferry was taking mostly devotees to a Hindu temple on the occasion of Mahalaya. Police said nearly 20 people were still missing while some of the passengers managed to swim ashore or were rescued. Hundreds of people die each year in ferry accidents in Bangladesh, a low-lying country that has extensive inland waterways and lax safety standards. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ruma Paul Editing by Peter Graff and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Polish venue cancels Roger Waters gigs after Ukraine comments
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +2 min
Former rock band "Pink Floyd" musician Roger Waters performs on stage during his tour, at Tacoma Dome in Tacoma, Washington, U.S., September 18, 2022. REUTERS/Amr AlfikyWARSAW, Sept 25 (Reuters) - Concerts by Pink Floyd co-founder Roger Waters were cancelled by a venue in the Polish city of Krakow, organisers said on Sunday, after the artist's comments on the war in Ukraine caused a storm of criticism. "Live Nation Polska and Tauron Arena Krakow have cancelled Roger Waters' concert," organisers said in a statement on the venue's website. Local councillors in Krakow had been due to vote on a resolution declaring Waters 'Persona non grata' on Wednesday. Wantuch said in a Facebook post on Sunday morning that he was in Ukraine and would comment on Waters' statement in the evening.
A picture of Lebanon's Prime Minister-designate Najib Mikati is placed on a residential building in the northern city of Tripoli, Lebanon September 23, 2022. The tragedy has underscored soaring poverty in northern Lebanon, and Tripoli in particular, that is driving ever more people to take desperate measures three years into the country's devastating financial collapse. Tripoli, Lebanon's second city with a population of roughly half a million, was already Lebanon's poorest before the country plummeted into financial crisis, the result of decades of corruption and bad governance overseen by ruling elites. The economic crisis has led poverty to sky-rocket, with 80% of the population of some 6.5 million poor, according to the United Nations. Several other boats attempted the voyage from Lebanon last week: Cyprus rescued 477 people from two vessels that left Lebanon.
Ukraine mocks Russia's partial mobilization on Twitter
  + stars: | 2022-09-25 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/REUTERS PHOTOGRAPHERKYIV, Sept 25 (Reuters) - The Ukrainian Defence Ministry on Sunday ridiculed Moscow’s partial mobilization to bolster its forces in Ukraine, posting on Twitter a mash-up of social media videos of Russian police beating and arresting men protesting the call-up. miles) retaken from Moscow’s forces, Ukrainian troops on the move and destroyed Russian armoured vehicles. the video continued before showing a Russian conscript slamming his head on a car hood and the mash-up of videos of Russian police cracking down on anti-mobilization protesters. The mash-up then showed Russian conscripts sharing drinks and passed out on the ground. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jonathan Landay; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
S&P Global's flash composite Purchasing Managers' Index (PMI), which tracks both the manufacturing and services sectors which together account for more than two-thirds of Germany's economy, fell to 45.9 in September from August's final reading of 46.9. A Reuters poll of analysts had pointed to a reading of 46.0. Separately, the manufacturing index fell to 48.3 from a final reading of 49.1 in August. The services index dropped to 45.4 from a final reading of 47.7 in August. Register now for FREE unlimited access to Reuters.com RegisterWriting by Paul Carrel; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
ASECNA had said on Thursday that some of its air traffic control staff had threatened a 48-hour strike that could impact flights. read moreRegister now for FREE unlimited access to Reuters.com Register"In spite of the prohibition of the strike by all the courts, and in spite of the orders of requisition of the air traffic controllers ... the Union of Air Traffic Controllers' Unions (USYCAA) has launched a wildcat strike," ASECNA said on Friday. Paul Francois Gomis, a leader of Senegalese air traffic controllers who were on strike, said that some union members in Cameroon, Congo and the Comoros had been arrested for participating in the strike. Gomis also said that Air Senegal had grounded several flights as a result of the action. On Thursday, a court in Senegal suspended the call to strike by air traffic controllers in Senegal and Ivory Coast, ASECNA said.
Bank of Ireland returns to full private ownership
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +2 min
A man passes a logo for the Bank of Ireland as he leaves the bank in Dublin May 28, 2007. REUTERS/Luke MacGregor (IRELAND)DUBLIN, Sept 23 (Reuters) - Bank of Ireland (BIRG.I) became the first Irish lender to return to full private ownership since the aftermath of the 2008-09 global financial crisis after the government said on Friday that it had sold the last of its shares. Bank of Ireland, the country's largest bank by assets, was the only lender to avoid majority state ownership and the only one on which the government has made a profit on its investment so far. It earned approximately 841 million euros since it began the gradual sale of the state's residual 13.9% shareholding in Bank of Ireland in August 2021. "The gradual disposal of the state's investment in Bank of Ireland into a rising market has been successful in delivering on this objective for our citizens."
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