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☆ Elon Musk expected to attend global AI summit in UK - source
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Oct 30 (Reuters) - Billionaire entrepreneur Elon Musk is expected to attend a global summit on artificial intelligence in Britain this week, according to a government official. Around 100 participants will discuss subjects including the unpredictable advances of AI and the potential for humans to lose control of it, according to the agenda. While several world leaders, including U.S. Vice President Kamala Harris and President of the European Commission Ursula von der Leyen are due to attend the summit, the full guest list has not been made public. "In conversation with @elonmusk after the AI Safety Summit Thursday night on @X," British Prime Minister Rishi Sunak said on Musk's social media platform X.Sunak's Downing Street office declined to comment.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Kamala Harris, Ursula von der Leyen, @elonmusk, Rishi Sunak, Sunak's, Andrew MacAskill, Michael Holden Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Billionaire, U.S, Thomson Locations: Paris, France, Britain

☆ Musk says Starlink to provide connectivity in Gaza through aid organizations
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsOct 28 (Reuters) - Elon Musk said on Saturday that SpaceX's Starlink will support communication links in Gaza with "internationally recognized aid organizations". Musk said in a post on social media platform X, formerly known as Twitter, that it was not clear who has authority for ground links in Gaza, but we do know that "no terminal has requested a connection in that area". Following Russia's February 2022 invasion of Ukraine, Starlink satellites were reported to have been critical to maintaining internet connectivity in some areas despite attempted Russian jamming. Since then, Musk has said he declined to extend coverage over Russian-occupied Crimea, refusing to allow his satellites to be used for Ukrainian attacks on Russian forces there. Reporting by Baranjot Kaur in Bengaluru; editing by Diane Craft and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, Baranjot Kaur, Diane Craft, David Gregorio Our Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, International, Thomson Locations: Paris, France, Gaza, Israel, Ukraine, Crimea, Bengaluru

☆ South Africa hold off 14-man All Blacks to win record fourth World Cup
▼ + stars: | 2023-10-28 | by ( Nick Mulvenney | Thomson Reuters | Leads Coverage Of Sport Across The Asia-Pacific. Still Reports On The Full Panoply Of Sport. Many Olympics World Cups World Championships Grand Slams Grands Prix | ) www.reuters.com time to read: +5 min

No team had ever recovered from a halftime deficit to win a World Cup final and the Springboks came out flying in the second half looking to drive home their advantage. It was the first try South Africa had conceded in four World Cup finals but Mo'unga missed the conversion from wide-out and the Springboks held on to the lead. Kolisi had by now returned to the fray after his card was not upgraded and South Africa brought their famed "bomb squad" off the bench to relieve fatigued forwards. South Africa winger Cheslin Kolbe was the fourth player to be yellow-carded seven minutes from time but New Zealand's Jordie Barrett struck the subsequent 48-metre penalty attempt wide of the posts. New Zealand had also been hoping to win a fourth World Cup and coach Ian Foster thought the way the cards for Cane and Kolisi played out had been a decisive factor.

Persons: Denis, Webb Ellis, Cyril Ramaphosa REUTERS, Gonzalo Fuentes, Cane, Beauden Barrett, NZ Handre Pollard, Sam Cane, Pieter, Steph du Toit, Handre, Siya Kolisi, Black Richie McCaw, Kolisi, Shannon Frizell, Flyhalf Pollard, Richie Mo'unga, Pollard, Cane clattered, Jesse Kriel, Mo'unga, Ardie Savea, New Zealand scrumhalf Aaron Smith, Mark Telea, Cheslin Kolbe, Zealand's Jordie Barrett, Ian Foster, it's, Nick Mulvenney, Ed Osmond Organizations: Rugby Union, Rugby, Stade de France, Saint, South, NZ, Zealand, Blacks, Springboks, New Zealand, All Blacks, Thomson Locations: Zealand, South Africa, France, Africa, South Africa PARIS, New Zealand, New

☆ Sanofi Plans to Spin Off Consumer-Healthcare, Pharma Businesses
▼ + stars: | 2023-10-27 | by ( Adrià Calatayud | ) www.wsj.com time to read: 1 min

REUTERS/Gonzalo Fuentes Photo: GONZALO FUENTES/REUTERSSanofi plans to split its consumer-healtchare and pharmaceutical operations, making it the latest big drugmaker to sharpen its focus on prescription medicines by offloading adjacent businesses. The French company outlined the plan on Friday as part of a strategic update that includes increased investment in its pipeline and a cost-savings program.

Persons: Gonzalo Fuentes, GONZALO FUENTES Organizations: Sanofi

☆ Sanofi loses $21 bln in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +6 min

Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability". EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target. CONSUMER STAND-ALONECEO Hudson said the core innovative drugs business had improved enough to soon do without the more predictable cash flows from consumer products. The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. The timing of the potential consumer listing, which Sanofi said would be in the fourth quarter of 2024 or later, would be set to maximize shareholder value.

Persons: Hudson, Sanofi, drugmaker, Paul Hudson, Terence McManus, Johnson, we've, Gonzalo Fuentes, Roche, Dupixent, Ludwig Burger, Sherry Jacob, Phillips, Mark Potter, Sharon Singleton Organizations: Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer, Bayer, Polyclonals, REUTERS, Provention, Merck & Co, Thomson Locations: France, Bellevue, Lyon, Paris

☆ Clifford Chance's lawsuit against SocGen can continue in London, court rules
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. Societe Generale's case against Goldas was ultimately dismissed, prompting the bank to accuse Clifford Chance of negligence. Clifford Chance applied to London's High Court for a declaration that it was not liable to Societe Generale for any alleged negligence or breach of duty. "The dispute concerns whether or not an English firm of solicitors were negligent in their conduct of English law litigation in the English High Court," the judge said. Clifford Chance and Societe Generale declined to comment.

Persons: Gonzalo Fuentes, Clifford Chance's, Clifford Chance, Goldas, Judge Andrew Henshaw, Sam Tobin, Kirsten Donovan Organizations: Societe Generale, La Defense, REUTERS, France –, Generale's, High, Thomson Locations: La, Paris, France, London

☆ Amazon predicts bright holiday season, cloud stabilizing
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

Facing an array of challenges to its business, Amazon is trying to keep its mantle as the world's biggest cloud provider and online retailer. The U.S. Federal Trade Commission in September sued Amazon for allegedly inflating prices and wielding monopoly power, claims that Amazon has disputed. Microsoft, the second-largest cloud provider by revenue after Amazon, beat Wall Street estimates this week as its customers geared up for AI upgrades. Amazon Web Services brought in revenue of $23.1 billion, compared with analysts' expectations of $23.09 billion. For the current holiday quarter, the company forecast revenue in the range of $160 billion and $167 billion.

Persons: Gonzalo Fuentes, Long, Andy Jassy, LSEG, Akash Sriram, Anil D'Silva, Deepa Babington Organizations: REUTERS, Amazon.com Inc, Google, Microsoft, Amazon, U.S . Federal Trade Commission, Amazon Web Services, Wall, Web Services, Thomson Locations: Bretigny, Paris, France, Bengaluru

☆ Stellantis nears deal to buy 20% of Chinese EV maker Leapmotor - Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 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. The partnership would also give Stellantis access to the EV maker's parts and certain technologies, according to the report. Stellantis, whose brands include Fiat and Peugeot, has only a very small presence in China, the world's largest auto market. The group and rivals such as Renault (RENA.PA) are concerned about growing competition from cheap Chinese electric cars in Europe. The companies are hammering out the final details of a transaction and an announcement could be made in the coming days, Bloomberg said.

Persons: Gonzalo Fuentes, Stellantis, Leapmotor, Akanksha, Gilles Guillaume, Giulio Piovaccari, Zhang Yan, Keith Weir, Shilpi Majumdar, Shweta Agarwal, Mike Harrison, Jan Harvey Organizations: REUTERS, Stellantis, Bloomberg, Zhejiang, HK, Fiat, Peugeot, Renault, Hong Kong, Guangzhou Automobile Group, Thomson Locations: Saint, Yvelines, Paris, France, China, Europe, Hong Kong, Bengaluru, Milan, Shanghai

☆ Exclusive: Google to run internet cables to Pacific islands in Australia-US deal
▼ + stars: | 2023-10-25 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - Alphabet's Google (GOOGL.O) will run undersea cables powering internet access to at least eight far-flung Pacific Ocean nations under a joint U.S.-Australian deal set to be announced on Wednesday, according to a U.S. official. The deal will expand an existing commercial project by Google in the region to the nations of Micronesia, Kiribati, the Marshall Islands, Papua New Guinea, the Solomon Islands, Timor-Leste, Tuvalu and Vanuatu. Set to be announced during an official White House visit by Australian Prime Minister Anthony Albanese, the previously unreported deal involves contributions from both governments. Google is currently working on a fiber-optic cable that links Taiwan, the self-ruled island claimed by China, with the Philippines and the United States. As part of the Pacific islands project, the United States will work with the countries on cybersecurity resilience, helping them back up key information to global cloud networks, according to the official.

Persons: Gonzalo Fuentes, White, Anthony Albanese, Joe Biden, Trevor Hunnicutt, Raju Gopalakrishnan Organizations: Google, Viva Technology, Porte de, REUTERS, Rights, U.S, Australian, Thomson Locations: Porte, Paris, France, U.S, Micronesia, Kiribati, Marshall Islands, Papua New Guinea, Solomon Islands, Timor, Leste, Tuvalu, Vanuatu, Canberra, Washington, China, United States, Taiwan, Philippines

☆ Microsoft to spend $3.2b in Australia as AI regulation looms
▼ + stars: | 2023-10-23 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 24 (Reuters) - Microsoft (MSFT.O) said it will spend A$5 billion ($3.2 billion) expanding its artificial intelligence (AI) and cloud computing abilities in Australia over two years as part of a wide-ranging effort that includes skills training and cyber security. The U.S. tech giant said it would raise its computing capacity in Australia by 250%, enabling the world's No. "This is a major investment in the skills and workers of the future," Australian Prime Minister Anthony Albanese said in a statement issued by Microsoft. A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. It said it would expand its data centre footprint in Australia from 20 sites to 29.

Persons: OpenAI, Anthony Albanese, Gonzalo Fuentes, Brad Smith, Steven Worrall, Byron Kaye, Gerry Doyle Organizations: SYDNEY, Microsoft, Australian Signals Directorate, REUTERS, Australia, Thomson Locations: Australia, U.S, Issy, Paris, France

☆ Elon Musk on interest rates, uncertainty and Tesla's costs
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsOct 18 (Reuters) - Tesla (TSLA.O) CEO Elon Musk spent much of a call with analysts and investors on the electric car maker's earnings discussing what he sees as the risks from high interest rates, consumer uncertainty and the "paycheck-to-paycheck" pressures on American workers. Here are some of his quotes on those issues:On interest rates and the affordability of EVs:"A large number of people are living paycheck-to-paycheck and with a lot of debt. They've got credit card debt, mortgage debt. "If our car cost the same as a (Toyota) RAV4, no one would buy a RAV4, or, at least, they would be very unlikely to." You know, credit card interest rates are usurious with over 20% interest rates, which, over time becomes extremely punishing."

Persons: Elon Musk, Porte, Gonzalo Fuentes, They've, you’ve, Marie Antoinette, Kevin Krolicki, Sayantani Ghosh Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Toyota, Thomson Locations: Paris, France

☆ Amazon to launch drone deliveries in Italy and UK in late 2024
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon 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 customers in these locations will have the option to have their packages delivered by a drone starting late 2024, Amazon said in a statement. Drone deliveries would be integrated into Amazon's existing fulfillment network and will be deployed from same-day delivery sites, the company added. Amazon's drone based service, called Prime Air, is currently available in two cites in California and Texas, where it launched last year. Reporting by Jyoti Narayan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Amazon, Jyoti Narayan, Shailesh Organizations: Viva Technology, Porte de, REUTERS, Thomson Locations: Porte, Paris, France, Britain, Italy, United States, California, Texas, Bengaluru

☆ Musk considers removing X platform from Europe over EU law - Insider
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes Acquire Licensing RightsOct 18 (Reuters) - Elon Musk, owner of social media platform X, is considering removing the service formerly called Twitter from Europe in response to a new internet platform regulation in the region, news site Insider reported on Wednesday. The billionaire has discussed removing the app's availability in the region, or blocking users in the European Union from accessing it, a person familiar with the company told the publication. The European Union in August adopted the Digital Services Act (DSA), which sets forth rules for preventing the spread of harmful content, banning or limiting certain user-targeting practices, and sharing some internal data with regulators and associated researchers, among other things. Reporting by Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Yuvraj Malik, Devika Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, European Union, Digital Services, Thomson Locations: Paris, France, Europe, Bengaluru

☆ EU-made EVs would cost $4,100 more in UK under post-Brexit rules - SMMT
▼ + stars: | 2023-10-17 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Free2Move Paris electric vehicles by Groupe PSA are displayed outside Paris city hall as the French car maker launches its free-floating car-sharing service in Paris, France, November 29, 2018. The Society of Motor Manufacturers and Traders (SMMT) said those same rules will also add 3,600 pounds to the average British-built EV sold in Europe. Automakers and industry groups like the SMMT have called for a three-year delay to implementing the rules of origin. The European Automobile Manufacturers' Association (ACEA) has said the rules could cost carmakers up to 4.3 billion euros ($4.53 billion) in tariffs and hit output. In June, Stefan Fuehring, a European Commission official overseeing the post-Brexit EU-UK trade agreement, said the EU rules of origin were "fit for purpose" and that the bloc was not considering changing them.

Persons: Gonzalo Fuentes, Mike Hawes, Stellantis, Stefan Fuehring, Nick Carey, Bernadette Baum Organizations: Groupe PSA, REUTERS, The Society of Motor Manufacturers, Traders, EU, European Union, Ford, European Automobile Manufacturers ' Association, European Commission, Thomson Locations: Paris, France, Britain, Europe, British, EU

☆ Europe-Musk spat carries risks for both sides
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsBRUSSELS, Oct 13 (Reuters Breakingviews) - The European Commission has made social-media site X, formerly known as Twitter, the test case for its fight against disinformation. The Commission on Oct. 12 sent a formal request to X, owned by Elon Musk, for information about possible illegal content and disinformation. X pushed back, with Musk exchanging combative posts with Breton on the website. While the process drags on, any problematic posts can just keep proliferating on X and other sites. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Thierry Breton, X, Breton, Rebecca Christie, Liam Proud, Streisand Neto Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Rights, Reuters, European Commission, Twitter, Elon, Digital Services, DSA, Big Tech, X, Infosys, Ericsson, Thomson Locations: Paris, France, Rights BRUSSELS, Israel, Breton, Europe, Brussels

☆ Luxury stocks drag European shares lower on LVMH disappointment
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

The logo of LVMH 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 RightsOct 11 (Reuters) - European stocks slipped on Wednesday after sharp gains in the previous session, as luxury giant LVMH dragged the sector lower on disappointing sales, though Novo Nordisk jumped after positive update on its diabetes drug Ozempic. The pan-European STOXX 600 index (.STOXX) dipped 0.2% by 0707 GMT. Shares of other French luxury majors such as Hermes (HRMS.PA) and Kering (PRTP.PA) fell 2.5% and 2.7%, respectively. Swiss luxury firms Richemont (CFR.S) fell 5.3% and Swatch Group (UHR.S) dropped 2.9%.

Persons: Gonzalo Fuentes, Danish drugmaker, Sruthi Shankar, Rashmi Organizations: Viva Technology, Porte de, REUTERS, Novo Nordisk, U.S . Federal Reserve, Swatch Group, Fresenius, Thomson Locations: Porte, Paris, France, U.S, Danish, Bengaluru

As a platform subject to Europe’s Digital Services Act (DSA), X could face billions in fines if regulators conclude that violations have occurred. Much of the problematic content appears to stem from platform changes made under Musk’s supervision, Breton suggested in the letter, which he shared on X. “We have, from qualified sources, reports about potentially illegal content circulating on your service despite flags from relevant authorities,” Breton wrote. The EU letter comes as misinformation about the conflict continues to spread widely across X. On Tuesday, the investigative journalism group Bellingcat said a fake video designed to look like a BBC News report was circulating on social media.

Persons: Elon Musk, Thierry Breton, X didn’t, Breton, X, ” Breton, Porte, Gonzalo Fuentes, ”, Bellingcat, Elliot Higgins, Shayan, “, Musk Organizations: CNN, Europe’s Digital Services, White, DSA, SpaceX, Tesla, Viva Technology, Porte de, Reuters, BBC, BBC News, Pentagon Locations: Israel, Paris, France, EU, Ukraine

☆ Renault, Volvo, CMA CGM pool forces to develop electric vans
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsPARIS, Oct 6 (Reuters) - Carmakers Renault (RENA.PA) and Volvo and shipping group CMA CGM said on Friday they will jointly develop a new generation of electric vans, aiming to begin production in 2026. Renault and Volvo signed binding agreements to launch a new company where they will initially each hold a 50% equity stake and invest 300 million euros over the next three years, they said in a statement. CMA CGM signed a non-binding letter of intent with Renault and Volvo to join the new company and invest 120 million euros through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors. There was no further detail on when this might happen or what stake it may take in the venture. The creation of the new company is expected early 2024 and remains subject to the completion of all regulatory approval processes.

Persons: Gonzalo Fuentes, Carmakers, Dominique Vidalon, Elaine Hardcastle Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Carmakers Renault, Volvo, CMA, CMA CGM, Energy Fund, Thomson Locations: Porte, Paris, France

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsWASHINGTON, Oct 5 (Reuters) - A former executive at Samsung Electronics' venture capital arm who proposed that mobile app developer Branch Metrics' software offering be expanded in Samsung smartphones faced pushback due to pressure from Google, he said on Thursday in a landmark antitrust trial against the Alphabet (GOOGL.O) unit. Patrick Chang, who worked at Samsung Next to invest in innovative companies, had urged the parent company (005930.KS) to expand the offerings of Branch, which can search within apps, to its Android smartphones. Chang testified that Samsung also faced pushback from wireless carries, like AT&T, which sell Android phones. In its questioning, the Justice Department showed an August 2020 email by Samsung executive David Eun, who complained that "Google is clearly buying its way to squelch competitors." Chang testified during the fourth week of a more than two-month trial in which the U.S. Justice Department is seeking to show that Google abused its monopoly of search and some search advertising.

Persons: Gonzalo Fuentes, Patrick Chang, Alexander Austin, Branch, Austin, Chang, David Eun, Diane Bartz, Richard Chang Organizations: Google, Viva Technology, Porte de, REUTERS, Rights, Samsung Electronics, Samsung, Samsung Next, Metrics, Justice Department, U.S . Justice Department, Thomson Locations: Porte, Paris, France

But then two days beforehand Musk raised "several spurious objections" and told the SEC he would not appear, the SEC said. According to the filing, Musk has given the SEC documents relating to the probe and has previously provided testimony in July last year via video conference. "The SEC has already taken Mr. Musk's testimony multiple times in this misguided investigation - enough is enough," said a statement from Alex Spiro, an attorney for Musk. Musk acquired Twitter after initially building a large minority stake in the social media platform, which he first disclosed in April 2022. Faced with a trial that sought to compel him to complete the deal, Musk closed his acquisition of Twitter in late October 2022.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, ”, Alex Spiro, Twitter, ” Musk, Howard Fischer, Moses, Moses & Singer, Tesla, Shivansh, Tom Hals, Chris Prentice, Michelle Price, Sheila Dang, Megan Davies, Shinjini Ganguli, Lisa Shumaker Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, U.S . Securities, Exchange Commission, SEC, Twitter, San, Musk, Moses &, Reuters, Justice Department, Thomson Locations: Paris, France, San Francisco, Texas, New York, Bengaluru, Wilmington , Delaware, Washington, Austin

☆ Alstom cash crunch dents management credibility
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsLONDON, Oct 5 (Reuters Breakingviews) - Alstom (ALSO.PA) CEO Henri Poupart-Lafarge faces an uphill struggle to shore up his credibility. The French train maker lost 35% of its market value – amounting to 3 billion euros - on Thursday after announcing that it would book negative free cash flow of 500 to 750 million euros this year. Finally, weaker than expected orders in the first half of the year generated less cash in the form of down payments. Given the potential for the group’s net debt to be 3 billion euros by year-end, 1 billion euros more than expected, Deutsche Bank analysts reckon it may soon need a capital increase. 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, Pierre Briancon, Aimee Donnellan, Streisand Neto Organizations: Alstom, REUTERS, Reuters, London Underground, Deutsche Bank, X, Sandoz, Brookfield, Temasek, Thomson Locations: Saint, Ouen, Paris, France

☆ Renault sets Nov. 15 date for first investor day for EV unit Ampere
▼ + stars: | 2023-10-05 | 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 RightsCompanies Renault SA FollowPARIS, Oct 5 (Reuters) - Renault (RENA.PA) on Thursday announced the first investor day for its future electric vehicle company, named Ampere, will take place on November 15. Renault's Chief Executive Luca De Meo last month said the unit, which Renault plans to list on the stock exchange as a standalone business by spring 2024, could be valued at up to 10 billion euros ($10.47 billion). ($1 = 0.9550 euros)Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Geert De ClercqOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca De Meo, Gilles Guillaume, Tassilo Hummel, Geert De Clercq Organizations: Renault, Viva Technology, Porte de, REUTERS, Companies Renault SA, PARIS, Thursday, Renault's, Thomson Locations: Porte, Paris, France

☆ GM, Stellantis face $9.5 bln in US fuel economy fines -industry group letter
▼ + stars: | 2023-10-02 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The American Automotive Policy Council, representing GM, Stellantis and Ford Motor (F.N), said in a letter to the U.S. Energy Department on Friday that the size of the expected penalties for not meeting proposed Corporate Average Fuel Economy (CAFE) requirements are "alarming." DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for EVs in NHTSA's CAFE program. A group representing nearly all major automakers said last week the industry as a whole could face $14 billion in CAFE fines. Automakers buy credits or pay fines if they cannot meet CAFE requirements. In June, Reuters first reported Stellantis and GM paid a total of $363 million in CAFE fines for failing to meet U.S. fuel economy requirements for prior model years.

Persons: Gonzalo Fuentes, Joe Biden's, Ford, David Shepardson, Jonathan Oatis, David Gregorio 私たち Organizations: REUTERS, Rights, General Motors, Chrysler, Reuters, The American Automotive Policy, GM, Ford, U.S . Energy Department, Energy Department, DOE, U.S, Detroit, Traffic Safety Administration, Detroit Three Locations: Velizy, Villacoublay, Paris, France, NHTSA's

☆ Ukraine's parliament taunts Elon Musk after meme mocking Zelenskiy
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +3 min

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/ File Photo Acquire Licensing RightsKYIV, Oct 2 (Reuters) - Ukraine's parliament and its speaker taunted billionaire Elon Musk on Monday after he posted a meme on his social media platform mocking President Volodymyr Zelenskiy's pleas for wartime assistance from the West. The speaker of Ukraine's parliament, Ruslan Stefanchuk, hit out at Musk's jibe with his own post on X. "The case when ...(Elon Musk) tried to conquer space, but something went wrong and in 5 minutes he was up to his eyeballs in shit," an apparent reference to SpaceX's failed rocket launch in April. Ukraine's parliament, on its official page on X, accused Musk of spreading Russian propaganda, posting its own version of the meme with a picture of Musk and the caption: "When it's been 5 minutes and you haven't spread Russian propaganda".

Persons: Elon Musk, Porte, Gonzalo Fuentes, Volodymyr Zelenskiy's, . Musk, Musk, it's, haven't, Ruslan Stefanchuk, Mykhailo Podolyak, Zelenskiy, Max Hunder, Tom Balmforth, Robert Birsel Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Rights, ., Kyiv, U.S, Congress, Thomson Locations: Paris, France, Kyiv, Russia, Ukrainian, Ukraine's, Ukraine, United States, U.S

Migration has become a hot topic of debate in Germany ahead of elections on Oct. 8 in the states of Bavaria and Hesse, and in Europe at large ahead of European parliamentary elections next year. The post shared by Musk came from an account identified as Radio Genoa. It criticized the German state for funding charities rescuing migrants in the Mediterranean and included videos of rescue missions. Germany's centre-left government confirmed this week that it was financially supporting three German non-governmental organizations that operate in the Mediterranean and regularly bring migrants to Italy. In Texas, Tesla operates a plant in Austin and Space X operates a major testing and launch facility on the Texas Gulf Coast in Boca Chica near Brownsville.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Billionaire Elon, Musk, Tesla's Gigafactory, Tesla, Sarah Marsh, Andreas Rinke, Leslie Adler Organizations: SpaceX, Tesla, Viva Technology, Porte de, REUTERS, Rights, Billionaire, Radio Genoa, Forbes, Space X, Texas Gulf, Thomson Locations: Paris, France, Germany, Bavaria, Hesse, Europe, Texas, Mexico, Italy, Tesla's Gigafactory Berlin, Brandenburg, Austin, Texas Gulf Coast, Boca Chica, Brownsville, U.S

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