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☆ The hero in 2019, Rapinoe handed new role in fourth World Cup
▼ + stars: | 2023-06-21 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

NEW YORK, June 21 (Reuters) - The United States's Megan Rapinoe will take on a different role in her fourth Women's World Cup appearance, coach Vlatko Andonovski said on Wednesday, as he named his 23-player squad for the quadrennial tournament. But when the 2023 World Cup kicks off on July 20 in Australia and New Zealand, the 2019 Ballon d'Or winner may take a backseat to a new generation of talent. "Megan Rapinoe is probably going to have a different role than the last World Cup or the previous two World Cups. The NWSL's 22-year-old MVP Sophia Smith, who was 10 when Rapinoe competed at the 2011 tournament, is poised to have a major role up front at this year's World Cup but still believes she has plenty to learn from the veterans. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Megan Rapinoe, Vlatko Andonovski, Donald Trump, Andonovski, Alyssa Thompson, Laura Harvey, Rapinoe, Sophia Smith, Alyssa, Thompson, Alex Morgan, Amy Tennery, Toby Davis Organizations: YORK, U.S ., National Women's Soccer League, Wales, Thomson Locations: U.S, Australia, New Zealand, New York

The U.S. Coast Guard said on Tuesday that several vessels were on their way to assist in the search for the submersible, including its ship the Sycamore and a Canadian Coast Guard vessel, John Cabot. Polar Prince, Deep Energy – a pipe-laying vessel flagged in the Bahamas, and three other Canadian vessels. North Atlantic Ocean Atalante at 11:03 p.m. 200 miles Sources: United States Coast Guard, MarineTraffic, GEBCO Note: All times are in Eastern. The Polar Prince deployed the Titan on Sunday and has been searching the area since losing contact with it less than two hours later. Deep Energy arrived at the scene earlier on Tuesday and launched a remotely operated vehicle, or R.O.V., to aid in the search, the U.S. Coast Guard said.

Persons: John Cabot, CANADA Ann Harvey, Terry Fox, CANADA Newfoundland Ann Harvey Organizations: Atlantic, U.S . Coast Guard, Canadian Coast Guard, Energy, CANADA, CANADA Newfoundland, United States Coast Guard, Canadian Locations: Connecticut, U.S, Polar, Bahamas, Sycamore, Newfoundland, Glace, Eastern

☆ Carlyle names insider John Redett as finance chief
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Carlyle Group Inc (CG.O) named company veteran John Redett as its new chief financial officer, the investment firm said on Tuesday, in the first major appointment under Chief Executive Officer Harvey Schwartz's leadership. Redett, who will take over from Curt Buser on Oct. 1, joined Carlyle 16 years ago and currently leads the firm's global financial services. Redett, who previously worked for U.S. banking giants Goldman Sachs (GS.N) and JPMorgan (JPM.N), will also become the head of corporate strategy at Carlyle. Carlyle hired Schwartz, a former Goldman Sachs (GS.N) executive, as its chief executive officer earlier this year, after a six-month long search. Carlyle also said it has also appointed Jim Burr as the head of global financial services.

Persons: John Redett, Harvey Schwartz's, Redett, Curt Buser, Goldman Sachs, Carlyle, Buser, Schwartz, Jim Burr, Jaiveer Singh, Nivedita Bhattacharjee Organizations: Carlyle Group Inc, Carlyle, Goldman, JPMorgan, Thomson Locations: Bengaluru

☆ Hunter Biden's apparent no-jail plea deal is 'far from standard operating procedure,' former prosecutor says
▼ + stars: | 2023-06-20 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Hunter Biden's plea deal with federal prosecutors is "far from standard operating procedure," a legal expert said. The president's son has agreed to plead guilty to two criminal misdemeanors of failing to pay income tax. Bederow, who called Hunter Biden's reported full payment back to the IRS a "significant factor," added that it's "fair" to question whether Hunter Biden received special treatment in the case. Despite owing in excess of $100,000 in federal income taxes each year, he did not pay the income tax due for either year." "At the end of the day, at least for now, Hunter Biden will be a convicted tax cheat," said Bederow.

Persons: Hunter, Biden, —, Joe Biden, Hunter Biden, Hunter Biden wouldn't, Arthur Aidala, Aidala, what's, Ghislaine Maxwell, Harvey Weinstein —, he's, It's, David Weiss, Donald Trump, Mark Bederow, Joe Schmo, Bederow, Hunter Biden's, Trump, Weiss Organizations: Service, Justice Department, Prosecutors, Associated Press, The Washington, Delaware Locations: Brooklyn, Manhattan

☆ Watch CNBC's full interview with Wells Fargo's Chris Harvey and Manulife's Frances Donald
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wells Fargo's Chris Harvey and Manulife's Frances DonaldChris Harvey, Wells Fargo Securities head of equity strategy, and Frances Donald, Manulife Investment Management chief economist and strategist, join 'The Exchange' to discuss the case for a recession in the back half of this year, and the rationale behind the Fed's pause.

Persons: Wells Fargo's Chris Harvey, Manulife's Frances Donald Chris Harvey, Frances Donald Organizations: Wells, Wells Fargo Securities, Manulife Investment Management Locations: Wells Fargo

☆ Hyundai to consider joining Tesla's North American charging standard alliance
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 20 (Reuters) - Hyundai Motor (005380.KS) will consider making its vehicles more readily compatible with the charging standard Tesla (TSLA.O) is pushing for in North America, the South Korean automaker's CEO said on Tuesday. Tesla's Superchargers make up about 60% of available U.S. fast chargers and Ford (F.N) and General Motors (GM.N) have in recent weeks struck deals with Tesla to use its charging technology, now dubbed the North American Charging Standard (NACS). Jaehoon Chang, who is also Hyundai's president, said the company would consider joining the alliance of automakers shifting to Tesla's standard, but that it would have to determine that was in the interest of its customers. One issue, he said, is that Tesla's current network of Superchargers does not allow for the faster charging Hyundai's electric vehicles can achieve on other chargers. Hyundai's new electric cars, including the Ioniq 5, use an 800-volt electrical architecture to allow for faster charging, while Tesla's Superchargers operate at a lower voltage.

Persons: Tesla's Superchargers, Tesla, Jaehoon Chang, Chang, Tesla's, Biden, Hyunsu Yim, Kevin Krolicki, Jan Harvey Organizations: Hyundai, Korean, Ford, General Motors, American, U.S, Thomson Locations: SEOUL, KS, North America, U.S, Seoul

PARIS, June 20 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Tuesday notched fresh orders from American Airlines and Spanish carrier Binter for its E-Jets in deals announced at the Paris Airshow that are seen totaling about $1 billion. Embraer, the world's third-largest planemaker after Airbus and Boeing (BA.N), said the new orders follow expansion goals of regional carriers such as Binter and Canada's Porter Airlines, underscoring positive momentum for its planes in global markets. "We were expecting Embraer to announce at least 30 new orders during the event," they said. "We believe that additional new orders could be announced in the coming days, as in the last Paris Air Show Embraer divided its announcements into 3 days." "The best orders are repeat orders," Embraer's Chief Commercial Officer for commercial aviation Martyn Holmes said.

Persons: Le Bourget, Canada's, Binter, Rodolfo Nunez, Martyn Holmes, Porter, Holmes, Gabriel Araujo, Steven Grattan, Jan Harvey, Alexandra Hudson Organizations: Embraer, EMBR3, American Airlines, Spanish, Jets, Paris Airshow, Airbus, Boeing, Canada's Porter Airlines, JPMorgan, Air, Envoy Air, Leasing, Avolon, Sao Paulo, Alexandra Hudson Our, Thomson Locations: Sao Paulo, Paris, Sao

☆ U.S. economy headed toward growth slowdown, says Manulife's Frances Donald
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy headed toward growth slowdown, says Manulife's Frances DonaldChris Harvey, Wells Fargo Securities head of equity strategy, and Frances Donald, Manulife Investment Management chief economist and strategist, join 'The Exchange' to discuss the case for a recession in the back half of this year, and the rationale behind the Fed's pause.

Persons: Manulife's Frances Donald Chris Harvey, Frances Donald Organizations: U.S, Wells, Wells Fargo Securities, Manulife Investment Management Locations: Wells Fargo

☆ 'Great Resignation' continues as quarter of workers look to change jobs - PwC
▼ + stars: | 2023-06-19 | by ( Divya Chowdhury | ) www.reuters.com time to read: +2 min

MUMBAI, June 20 (Reuters) - A quarter of workers surveyed by PwC expect to change jobs in the next 12 months, up from 19% last year, as they are increasingly left cash-strapped in a cooling economy while dealing with inflationary pressures. Even as the 'Great Resignation' continues, around 42% of the employees surveyed by PwC in its new study of the global workforce said they are planning to demand payrises to cope with the higher cost of living, up from 35% last year. "With the ongoing economic uncertainty, we see a global workforce that wants more pay and more meaning from their work," said Bhushan Sethi, joint global leader of PwC's people & organization practice. Around one worker in five is doing multiple jobs, with 69% of those saying they were doing so for additional income. Among the workers surveyed who were doing better financially, more than one-third said AI will improve their productivity, while a quarter expected AI to create new job opportunities.

Persons: Bhushan Sethi, Gen, Divya Chowdhury, Jan Harvey Organizations: PwC, Survey, Workers, Reuters Global, Thomson Locations: MUMBAI, Mumbai

☆ Polestar partners with Geely's Meizu to build Chinese operating system
▼ + stars: | 2023-06-19 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

June 19 (Reuters) - Swedish electric vehicle (EV) maker Polestar said on Monday it had formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China that will offer the latest smart technologies in its vehicles. The venture represents a further push by the Geely group (GEELY.UL) to adapt cars specifically for Chinese consumers. The Swedish group said it would own 49% of the JV and Xingji Meizu 51%, providing $98 million and $102 million in funding respectively. Xingji Meizu has grown over the last decade in its attempt to become a Chinese rival to Android, but holds a marginal market share. Traditional carmakers have come under pressure from Chinese EV makers offering lower prices and smart consumer-facing technologies.

Persons: Polestar, Xingji, Li Shufu, Thomas Ingenlath, Xingji Meizu, Ingenlath, Marie Mannes, Elaine Hardcastle, Jan Harvey Organizations: Volvo, JV, Reuters, Google, EV, Thomson Locations: Swedish, China, U.S

☆ UK manufacturers lift 2023 outlook, boosted by aircraft and electronics
▼ + stars: | 2023-06-18 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, June 19 (Reuters) - Britain's main manufacturing trade body Make UK revised up its outlook for this year on Monday thanks to strong demand for aircraft and electronics, but said it still expects production to fall over the year as a whole. Make UK said it expected factory output to fall 0.3% this year compared with a 3.3% contraction expected three months earlier, and kept unchanged its forecast for 0.8% growth in 2024. "Manufacturers are seeing a gradually improving picture, but the word 'gradually' is doing a lot of heavy lifting," said James Brougham, senior economist at Make UK. Aerospace had been boosted by a resumption of travel and aircraft orders after the COVID-19 pandemic, while demand for electronics partly reflected businesses' desire to counter labour shortages. Supply-chain pressures remain an issue for medium-sized firms, said Richard Austin, head of manufacturing at accountants BDO, who sponsored the survey of Make UK members.

Persons: James Brougham, Richard Austin, Austin, David Milliken, Jan Harvey Organizations: Make, Manufacturers, Aerospace, BDO, Thomson Locations: Russia, Ukraine, April's

☆ ECB policymakers line up behind rate hike plans
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

Underlying inflation eased to 5.3% in May, but a big chunk of the drop was due to a one-off administrative discount in German transport prices. Wunsch has said in the past that the ECB's deposit rate could hit 4% if underlying inflation did not moderate. Joining the chorus behind rate hikes, Estonian central bank chief Madis Muller said more rate action is needed. "Euro zone interest rates have not yet peaked," Muller said in a statement. "The ultimate goal is clear for the central bank - we need to quickly get the price rise under control."

Persons: Joachim Nagel, Pierre Wunsch, Wunsch, Austria's Robert Holzmann, Gediminas Simkus, Madis Muller, " Muller, Balazs Koranyi, Andrius Sytas, Julia Payne, Francois Murphy, Terje Solsvik, Alex Richardson, Toby Chopra, Jan Harvey Organizations: Central Bank, ECB, Thomson Locations: FRANKFURT, Belgian, U.S, Estonian

☆ Exclusive: Xi Jinping tells Bill Gates he welcomes U.S. AI tech in China
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

[1/2] Microsoft Corp co-founder Bill Gates delivers his speech at the National Assembly in Seoul, South Korea, August 16, 2022. Xi also discussed Microsoft's (MSFT.O) business development in China during their meeting in Beijing, one of the sources said. When asked for comment, the Bill & Melinda Gates Foundation directed Reuters to the post. His meeting with Gates comes as U.S.-China relations are at their lowest point in decades, with AI a key flashpoint. Microsoft is a backer of OpenAI, whose chatbot ChatGPT ignited a global AI buzz last year that has spread to China.

Persons: Bill Gates, Kim Hong, Xi Jinping, Xi, Gates, Melinda Gates, Jason Neely, Jan Harvey Organizations: Microsoft Corp, National Assembly, REUTERS, U.S, Microsoft, Melinda Gates Foundation, Reuters, Information Office, chipmaker Micron, LinkedIn China, Thomson Locations: Seoul, South Korea, HONG KONG, China, Beijing, China's, U.S, Hong Kong

☆ Wall Street prepares for more gains this month after past week's breakout
▼ + stars: | 2023-06-16 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

For now, it's not a brighter economic picture or an exuberant earnings outlook pushing stocks higher. Another reason that some investors have come back to stocks is simply because the S & P 500 ended the week more than 23% above last October's low. "The next level of resistance is above 4,500 on the S & P. Historically, the market gains 14.5% on average between the 20% threshold level and the next decline of 5% or more. "Inflation peaked in June of last year and has been rapidly declining over the past 12 months. Trading the week after is often treacherous, Hirsch said, with the Dow Jones Industrials falling in 27 of the past 33 years and the S & P 500 down in 23 of 33 years.

Persons: it's, Sam Stovall, Clinton, Wells Fargo, Chris Harvey, Harvey, Jay Hatfield, Price, CarMax, Stovall, Jeffrey Hirsch, Hirsch, Dow Jones Industrials, York Fed's John Williams, Jerome Powell, Philip Jefferson, Lisa Cook, Adriana Kugler, Avid Bioservices, Patterson Cos, Christopher Waller, Michael Bloom, Fred Imbert, Alex Harring Organizations: Fed, CFRA, Microsoft, Infrastructure Capital Management, Consumer, PPI, FedEx, Darden, Dow, Housing, Financial, Enerpac, Avid, Banking, Accenture, Commercial Metals, P, PMI Locations: New York, York, Dublin

☆ VW masters dry-coating battery process with potential to slash cell costs
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 16 (Reuters) - Volkswagen (VOWG_p.DE) and a technology partner have mastered a battery manufacturing process called dry coating which if scaled up could cut the cost of cell production by hundreds of millions of euros a year, its battery chief said on Friday. "No-one else can do this today," battery chief Thomas Schmall said at a media roundtable. Dry-coating eliminates that step with an adhesive that does not require drying, Schmall explained. Together with scaled-up production and cheaper raw materials, the carmaker hopes the procedure will help bring down cell costs by around 50%, Schmall said. Reporting by Victoria Waldersee; Editing by Rachel More and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Koenig, Thomas Schmall, Schmall, Tesla, Sebastian Wolf, Victoria Waldersee, Rachel More, Jan Harvey Organizations: Bauer AG, Maxwell Technologies, Reuters, Volkswagen, Thomson Locations: BERLIN, Germany, Spain, Canada

☆ MLB roundup: Down to last strike, Giants stun Cards
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +12 min

Ronald Acuna Jr. supplied three hits, including a homer, and drove in three runs for the Braves. Spencer Strider (7-2) gave up five runs, including three homers, in five innings but still collected the win. Orlando Arcia had two hits and drove in two runs for Atlanta, which has won nine of its last 11. Detroit starter Michael Lorenzen (2-4) gave up all six Braves runs and nine hits in six innings. Astros 5, Nationals 4Jose Abreu recorded two extra-base hits and three RBIs and scored with two outs in the ninth inning as host Houston edged Washington.

Persons: Mike Yastrzemski, Jeff Curry, Thairo Estrada, Wilmer Flores, LaMonte Wade Jr, Francisco, Jakob Junis, Taylor Rogers, Ryan Walker, Tyler Rogers, Camilo Doval, Tommy Edman, Steven Matz, Brandon Nimmo, Isiah Kiner, Dominic Leone, Josh Donaldson, Mark Vientos, Albert Abreu, Nick Ramirez, Nimmo, Michael Harris II, Ronald Acuna Jr, Orlando Arcia, Spencer Strider, Miguel Cabrera, Eric Haase, Spencer Torkelson, Reese Olson, Ozzie Albies, Eddie Rosario, Collin McHugh, Joe Jimenez, A.J, Minter, Jake Rogers, Andy Ibanez, Matt Vierling, Michael Lorenzen, Mike Tauchman, Dansby Swanson, Osvaldo Bido, Roansy Contreras, Contreras, Drew Smyly, Carlos Correa, Bailey Ober, Brian Anderson, Luis Urias, Ober, Colin Rea, Jose Berrios, George Springer, Berrios, Adley Rutschman, Kyle Bradish, Toronto's Jordan Romano, Ryan O'Hearn, Austin Hays, Aaron Hicks, Adam Frazier, Jose Abreu, Hunter Harvey, Jake Meyers, C.J . Abrams, Kyle Tucker, Keibert Ruiz, Meyers, Abreu, Marcus Semien, Corey Seager, Jimmy Herget, Seager, Shohei Ohtani, Will Smith, Smith, Mike Trout, Anthony Rendon, Matt McLain, Stuart Fairchild, McLain, Jonathan India, Spencer Steer, Edward Olivares, Bobby Witt Jr, Jake Burger, Clint Frazier, Luis Robert Jr, Burger, Alex Vesia, plunked Andrew Benintendi, Frazier, Reynaldo Lopez, Mike Clevinger, Eury Perez, Jorge Soler, Jesus Sanchez, Perez, Eugenio Suarez, Sanchez, Soler, Seattle's Luis Castillo, Pete Alonso, Rob Refsnyder's, Jarren Duran, Connor Wong, Justin Turner, Alex Verdugo, Turner, Garrett Whitlock, Austin Gomber, Michael Wacha, Fernando Tatis Jr, Manny Machado, Juan Soto, Nelson Cruz, Tatis, Aaron Civale, Realmuto, Craig Kimbrel, Jose Alvarado, Arizona's Scott McGough, Kyle Schwarber, Trea Turner, Gerardo Perdomo, Jake McCarthy, Nick Castellanos, Manuel Margot, Yandy Diaz, JJ Bleday, Tyler Glasnow, Luis Medina Organizations: San Francisco Giants, St, Louis Cardinals, Busch, USA, Giants, Cardinals, Mets, Yankees, New York Mets, New York Yankees, The Mets, Braves, Tigers, Atlanta, Detroit, Cubs, Pirates, Pittsburgh, Chicago, Brewers, Milwaukee, The Twins, Twins, Blue Jays, Orioles, Toronto, Baltimore, Astros, Nationals, Houston, Washington, Rangers, Angels, Los Angeles, The Rangers, Reds, Royals, Cincinnati, Kansas City, White Sox, Dodgers, Marlins, Mariners, Miami, Seattle, Los Angeles Angels, Red Sox, Rockies, Boston, Colorado, The Red Sox, Austin, Padres, San Diego, Cleveland, Phillies, Diamondbacks, Philadelphia, Arizona, Rays, Tampa Bay, Oakland, Athletics, Thomson Locations: Louis , Missouri, USA, Minnesota, Minneapolis, Milwaukee, Washington, Texas, Los, Arlington , Texas, Los Angeles, Phoenix

NEW DELHI, June 15 (Reuters) - India's defence ministry has approved the procurement of U.S.-made armed MQ-9B SeaGuardian drones, sources told Reuters on Thursday. India will buy 31 drones made by General Atomics worth slightly over $3 billion, one of the sources said. India’s defence ministry did not respond to a request for comment. The defence ministry's initial clearance for the procurement comes just days before Prime Minister Narendra Modi leaves for a state visit to the U.S. next week. The U.S. government approved the sale of 30 drones to India more than two years ago, but the Indian defence ministry had been sitting on the decision.

Persons: General Atomics, Narendra Modi, Joe Biden, Biden, Jake Sullivan, Ajit Doval, Subrahmanyam Jaishankar, Modi, Lloyd Austin, Krishn Kaushik, Jan Harvey Organizations: Reuters, U.S, Modi, . National, Modi's, Thomson Locations: DELHI, U.S, India, China, Pakistan, New Delhi, Delhi, Russia

☆ Uber to cease food delivery in Italy, exit Israel
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, June 15 (Reuters) - Uber (UBER.N) said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. CEO Dara Khosrowshahi has said Uber will invest only in markets where it can be the largest or second largest player. Uber trails Just Eat (TKWY.AS) and Glovo (DHER.DE) in Italian food delivery, and Gett Taxi and Yango (YNDX.O) in the Israeli taxi and private hire market. The company, which relies on self-employed contractors for its delivery service, said around 50 Uber employees and thousands of non-employee couriers and restaurants would be affected in Italy. Uber says it is seeing strong adoption by taxi drivers in Europe, who use the Uber app to supplement their curb-side ride hailing business.

Persons: Dara Khosrowshahi, Uber, Toby Sterling, Jan Harvey Organizations: Thomson Locations: AMSTERDAM, Italy, Israel, Europe, Britain, France, Spain, Germany

☆ EU regulators checking if Vivendi jumped gun in Lagardere acquisition
▼ + stars: | 2023-06-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, June 15 (Reuters) - EU antitrust regulators are checking whether French media conglomerate Vivendi (VIV.PA) closed its acquisition of French publisher Lagardere (LAGA.PA) before securing regulatory approval, the European Commission said on Thursday. Such so-called gun jumping can result in fines of up to 10% of a company's group aggregate turnover. The EU executive said it was alerted by media reports but has not opened a formal investigation yet. "The Commission was made aware of allegations of gun jumping, which have been reported in the press. The Commission can confirm that it is looking into the matter," the EU executive said in an email.

Persons: Lagardere, Foo Yun Chee, Mathieu Rosemain, Jan Harvey Organizations: Vivendi, European Commission, EU, Thomson Locations: BRUSSELS, EU, Paris

SummarySummary Companies Shell to hold oil output steadyCompany to grow gas and LNG businessCapital spending reduced for 2024-25LONDON, June 14 (Reuters) - Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan. Shell shares were up 1.5% at 1204 GMT, against a 1% rise for an index of European oil and gas companies (.SXEP). Reuters Graphics Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan, Shell, Sawan, Biraj Borkhataria, Thilo, Bernard Looney, Ron Bousso, David Goodman, Jan Harvey Organizations: Shell, RBC, Reuters Graphics Reuters, Royal, REUTERS, BP, Lebanese, Thomson Locations: New York, Wesseling, Cologne, Germany, Bukom, Jurong, Singapore, Paris

☆ Tech investor Prosus flags sharp drop in full-year profit
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, June 14 (Reuters) - Technology investor Prosus (PRX.AS) on Wednesday said its profit dropped significantly last year due to impairments and lower contributions from its biggest holding, Chinese software and gaming giant Tencent (0700.HK). Prosus said it expected earnings per share to have fallen by 40% to 47% in the year through March 2023 as Tencent was hit by COVID-19 lockdowns and regulations in China. "The operating environment was characterised by significant geopolitical and macroeconomic uncertainty," Prosus said in a trading update. Prosus cut back its stake in Tencent from 29% to 26% in the past year. Reporting by Bart Meijer; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Prosus, Tencent, Bart Meijer, Jan Harvey Organizations: Technology, HK, Thomson Locations: AMSTERDAM, China, Tencent

SummarySummary Companies Shell to hold oil output steadyCompany to grow gas and LNG businessCapital spending reduced for 2024-25LONDON, June 14 (Reuters) - Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030 as part of CEO Wael Sawan's efforts to regain investor confidence that wavered over its energy transition plan. Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. Sawan, a 48-year-old Canadian-Lebanese national who previously headed Shell's oil, gas and renewables divisions, has in recent months scrapped several projects, including in offshore wind, hydrogen and biofuels, due to projections of weak returns. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan's, Shell, Sawan, Ron Bousso, David Goodman, Jan Harvey Organizations: Shell, Reuters, Lebanese, Thomson Locations: New York, Bukom, Jurong, Singapore, Paris

☆ Grammys add Best African Music Performance category
▼ + stars: | 2023-06-14 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Next year’s Grammys will feature three new categories, including Best African Music Performance, as the awards move to reflect the massive popularity of Afrobeats around the world. The category “recognizes recordings that utilize unique local expressions from across the African continent,” the organizers said in a statement published Wednesday. Throughout the year, the Recording Academy – the group of music industry professionals that presents the Grammy Awards – accepts proposals from its members for new categories. Those proposals are then reviewed by a committee and voted on by the academy’s board of trustees. At a meeting in May, the trustees voted to introduce the Best African Music Performance category, as well as awards for Best Alternative Jazz Album and Best Pop Dance Recording, the statement said.

Persons: –, Harvey Mason Jr, Afrobeats, Mason Jr, ”, Beyoncé, Drake, Ed Sheeran, they’ve Organizations: CNN, Recording Academy, ” Recording, TikTok, Billboard, Company Locations: West Africa, Africa

KARACHI, June 14 (Reuters) - Shell Pakistan (SHEL.PSX) said on Wednesday that its parent company, Shell (SHEL.L) unit Shell Petroleum Company, would be exiting Pakistan with the sale of its 77% shareholding in the in the local business. The move came after Shell Pakistan (SPL) suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables, and as the country faces a financial crisis and economic slowdown. "To support its intention to high-grade and simplify its portfolio, Shell Petroleum Company Ltd... has initiated a sales process to sell its 77.42% shareholding in Shell Pakistan Ltd," a spokesperson for Shell Pakistan said in an email to Reuters. That includes "all of SPL’s Downstream businesses and SPL’s 26% ownership of Pak-Arab Pipeline Company Ltd (PAPCO)," the spokesperson added. REUTERS/Morteza Nikoubazl/File PhotoIt said in the notice that Shell Petroleum Company had notified its board of directors of its intention to sell the holding in a meeting on June 14.

Persons: Morteza, Shell, Wael Sawan, Ariba Shahid, Sakshi Dayal, Gibran Peshimam, David Evans, Jan Harvey, Kirsten Donovan Organizations: Shell Pakistan, Shell, Shell Petroleum Company, Shell Petroleum Company Ltd, Shell Pakistan Ltd, Reuters, Arab Pipeline Company, Pakistan Stock Exchange, REUTERS, Thomson Locations: KARACHI, Pakistan, Nowshera, Pakistan's, Khyber, Pakhtunkhwa Province, Bukom, Jurong, Singapore

The plan is the linchpin of Sawan's effort to boost Shell's share performance relative to its U.S. peers, which has suffered despite a record $40 billion profit last year. Its shares closed up 0.4%, against a flat index of European oil and gas companies (.SXEP) on Wednesday. Reuters Graphics Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan, Sawan, Biraj Borkhataria, Thilo, Shell, Bernard Looney, Ron Bousso, Jan Harvey, Alexander Smith, Elaine Hardcastle Organizations: Shell, British, RBC, Reuters Graphics Reuters, Royal, REUTERS, BP, Lebanese, Reuters, Thomson Locations: New York, Wesseling, Cologne, Germany, Bukom, Jurong, Singapore, Paris

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