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☆ Musk to join G20 summit in Indonesia virtually, CNBC Indonesia reports
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: 1 min

NUSA DUA, Indonesia, Nov 12 (Reuters) - Elon Musk will join the G20 summit in Indonesia's Bali virtually rather than in person, an official from the Indonesian Chamber of Commerce told CNBC Indonesia on Saturday. "He is unable to attend because...there are incidents in the United States and he must be present there," Arsjad Rasyid, head of the chamber was quoted as saying, adding the Twitter and Tesla CEO would join virtually. Organisers of the event did not immediately respond to a request from Reuters for confirmationReporting by Stanley Widianto and Bernadette Christina Munthe; Writing by Kanupriya Kapoor; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Musk to join G20 summit in Indonesia virtually - CNBC Indonesia
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +1 min

NUSA DUA, Indonesia, Nov 12 (Reuters) - Elon Musk will join the G20 summit in Indonesia's Bali virtually rather than in person, an official from the Indonesian Chamber of Commerce told CNBC Indonesia on Saturday. Organisers of the event and Indonesian government officials did not immediately respond to Reuters' request for confirmation. Musk is due to speak at a business event related to the summit of the Group of 20 major economies. World leaders including U.S. President Joe Biden and Chinese President Xi Jinping are attending in person, while Russian President Vladimir Putin is expected to attend virtually. After recently acquiring social media platform Twitter, Musk has been mired in a series of strategy and policy changes that have thrown the future of the company into doubt.

☆ Biden says U.S.-ASEAN pact to address 'biggest issues of our time'
▼ + stars: | 2022-11-12 | by ( Nandita Bose | ) www.reuters.com time to read: +5 min

[1/8] U.S. President Joe Biden speaks at the 2022 ASEAN summit in Phnom Penh, Cambodia, November 12, 2022. In his first visit to Southeast Asia as president, Biden said the region was at the heart of his administration's Indo-Pacific strategy and Washington was committing resources, not just rhetoric, under a new Comprehensive Strategic Partnership. ASEAN is engaging a host of leaders, including Biden, Japanese Prime Minister Fumio Kishida, Australian Prime Minister Anthony Albanese and South Korean President Yoon Suk-yeol. At the gatherings, Biden will focus on the Indo-Pacific region and talk about U.S. commitment to a rules-based order in the South China Sea, a senior administration official said earlier this week. Biden on Saturday said the meetings would discuss Russia's "brutal" war against Ukraine and U.S. efforts to address the war's global impact.

The crash into the Java Sea after take-off from Jakarta, which killed all 62 people on board, was Indonesia's third major commercial plane crash in just over six years and shone a spotlight on its poor air safety record. A working autothrottle is not required for a plane to be dispatched because pilots can control the thrust levers manually. The first officer said "upset, upset" and "captain, captain" before the recording stopped, but the captain's channel was not working, making it more difficult for investigators to analyse events. KNKT had raised the lack of upset recovery training after the 2014 crash of an AirAsia Indonesia jet that killed all 162 people on board. Indonesia is putting in place updated upset prevention and recovery training, KNKT said in the report.

☆ UK asset managers urge company bosses to show restraint on pay hikes
▼ + stars: | 2022-11-10 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

"With the cost-of-living crisis hitting UK households, investors want to see companies show restraint on executive pay and bonuses, ensuring that executive pay packets are balanced against the experiences of their wider workforce, customers, and other stakeholders," Andrew Ninian, IA director for stewardship and corporate governance, said on Thursday. With UK inflation more than 10% at a 40-year high, the IA said pay increases in line with rising prices may not be appropriate. The retention and motivation of employees below the executive level will be key and board decisions could affect productivity of the whole workforce, the IA said. Companies should also spell out how executive bonuses will be linked to meeting their environment, social and governance targets in future years, the IA said. ($1 = 0.8740 pounds)Reporting by Huw Jones Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Malaysia's economy likely grew 11.7% in Q3, outlook cloudy
▼ + stars: | 2022-11-09 | by ( Anant Chandak | ) www.reuters.com time to read: +2 min

The Nov. 1-8 poll of 22 economists predicted the economy expanded 11.7% in the July-September quarter compared with the same period a year earlier. In the previous quarter, the economic grew 8.9%. Trade and economic activity was also likely to be affected by China's strict COVID-19 containment measures and a slowdown in global growth. A separate Reuters poll showed Malaysia's growth would average 7.2% this year and then fall to 4.2% in 2023. "The currency is likely to remain under downward pressure until U.S. bond yields peak and market participants remain risk averse amid elevated levels of global economic uncertainty," added Tandon.

☆ French judge to probe Vinci unit over Qatar labour rights, group says
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

PARIS, Nov 9 (Reuters) - A French judge has placed Vinci Construction Grands Projets, a unit of French construction group Vinci (SGEF.PA), under formal investigation over allegations it violated the rights of migrant workers in Qatar, human rights group Sherpa said on Wednesday. Vinci said through its lawyer Jean-Pierre Versini-Campinchi that it would immediately appeal the judge's decision. Reuters sought comment from the court where the judge is based but was told it was not immediately able to comment. The French judicial move follows an initial 2015 complaint by Sherpa, which was dismissed in January 2018. Sherpa said the Vinci unit faces charges of "keeping people in servitude", "work and housing incompatible with human dignity", and "forced labour".

LONDON, Nov 9 (Reuters) - China’s diesel exports accelerated significantly in September after being severely restricted over the previous 13 months, according to data from the customs service. Faster exports will provide some relief amid a global diesel shortage, but are unlikely to be enough to stabilise and rebuild global inventories, or offset any future disruption as a result of sanctions on Russia’s fuel exports. Diesel exports were reduced by a total of 16.3 million tonnes, or 122 million barrels, over 13 months compared with the pre-June 2021 trend. Recently, extra quotas have been awarded, which should help relieve some of the global shortage, provided they are maintained at a higher level. Extra diesel shipments out of China will help, but rebalancing the diesel market still requires slower growth in the global economy and fuel consumption.

☆ Man detained after eggs thrown at King Charles
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/4] Police officers remove a man arrested for throwing an egg at King Charles during his visit to Micklegate bar in York, Britain November 9, 2022. REUTERS/Russell CheyneYORK, England, Nov 9 (Reuters) - A man was detained on Wednesday after eggs were thrown at King Charles and Camilla, his wife and queen consort, as they carried out an engagement in northern England. Footage on social media showed four eggs flying past the British monarch and his wife and smashing on the ground as they arrived for a traditional ceremony in York. Charles, who came to the throne in September after the death of his mother Queen Elizabeth, is on a two-day tour of northern England. Eggs were also thrown at Elizabeth's royal car in 2022 when she visited Nottingham, central England, and anti-British protesters threw eggs at Charles during a walkabout in central Dublin in 1995.

☆ Stellantis to halt Melfi plant operations in Italy for two days
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 8 (Reuters) - Stellantis (STLA.MI) will halt operations at its Melfi plant in southern Italy on Wednesday and Thursday due to a shortage of a component that uses micro chips, a trade unionist said. Marco Lomio, the local head of UILM metalworkers union, said on Tuesday that the Italo-French carmaker had just informed workers' representatives. The Melfi plant, which employs more than 7,000 workers, makes the Jeep Compass and Renegade models, some of Stellantis' bestsellers in Europe. Lomio said that the plant had produced only 130,000 cars so far this year due to the global semiconductor shortage. This makes it certain that full-year output will stay below the 190,000 units produced in pandemic-hit 2020, he said.

REUTERS/Dado Ruvic/Illustration/File PhotoCompanies Mars Inc FollowNov 8 (Reuters) - A California man who claimed Skittles are "unfit for human consumption" because they contained a known toxin has dismissed his federal lawsuit against Mars Inc, the candy maker. Jenile Thames voluntarily dismissed his case on Monday, according to a filing by his lawyers in Oakland, California. read moreThough many foods contain titanium dioxide to add color, various studies have over the years questioned its safety. Mars, based in McLean, Virginia, on Sept. 30 sought to dismiss Thames' lawsuit. It said its use of "small amounts" of titanium dioxide did not harm the plaintiff, and complied with U.S. Food and Drug Administration regulations.

☆ EU wants broader rules on companies' market power, focus on tech
▼ + stars: | 2022-11-08 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Nov 8 (Reuters) - EU regulators want broader rules defining companies' market power, with more weight given to innovation and pointers on what digital markets are, the European Commission said on Tuesday, prompted in part by the growing power of tech giants. The rules, known as the EU market definition notice, date back to 1997 and help regulators measure a company's pricing power in a merger or its power to shut out rivals in an antitrust case. Businesses and academics have in recent years criticised EU antitrust laws for being inadequate, especially in relation to U.S. tech giants' merger deals and market power. Following feedback from more than 100 stakeholders, the EU executive proposed some additions to the rules. There will be need for principles clarifying how markets should be assessed where companies compete on innovation, including through pipeline products.

☆ Mitsubishi raises profit forecast on higher coal, LNG prices
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 8 (Reuters) - Mitsubishi Corp (8058.T) on Tuesday raised its full-year net profit forecast by 21% to a record 1.03 trillion yen ($7 billion), amid strength in metals and energy segments thanks to higher prices of coking coal and liquefied natural gas (LNG). Like global energy companies, Japanese trading houses have benefited from surging oil, gas and coal prices this year in the wake of Russia's invasion of Ukraine. Mitsubishi boosted its profit outlook for the year to March 31 to over 1 trillion yen from its May estimate of 850 billion yen. The latest forecast was in line with a mean estimate of 1.08 trillion yen in a poll of 10 analysts by Refinitiv. For the April-September first half, net profit nearly doubled to a record 720 billion yen, helped by a rally in coking coal and LNG as well as a one-off gain from selling a real estate management company.

☆ UK boosts support for Ukrainian troops through winter
▼ + stars: | 2022-11-08 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

[1/8] NATO Secretary General Jens Stoltenberg observes Operation Interflex a UK led training programme for the Armed Forces of Ukraine during a visit to Lydd Camp in Kent, Britain. REUTERS/Chris RadburnSummary UK to send more cold-weather sleeping kits to UkraineAlso announces dispatch of more military equipmentNATO chief watches Ukrainian troops training in BritainLYDD, England, Nov 8 (Reuters) - Britain is stepping up its support for Ukrainian soldiers through the winter, Defence Secretary Ben Wallace told Reuters on Wednesday, following weeks of Ukrainian advances towards the southern city of Kherson. Wallace joined NATO Secretary General Jens Stoltenberg to observe the training of Ukrainian troops in the southeast English town of Lydd, as Britain announced the delivery of a further 12,000 extreme cold-weather sleeping kits for Ukraine. "So we're determined ... to give Ukrainian soldiers the best basic skills because we already know that the Russian military aren't doing that." Stoltenberg, who said other NATO allies were also providing support to Ukrainian troops through the winter months, also met Britain's new prime minister, Rishi Sunak, on Wednesday in London, where they discussed the Atlantic alliance's continued support for Ukrainian sovereignty.

"There can be no effective climate policy without the peace," he said, highlighting the impact of Russia's invasion of Ukraine on global energy supplies, food prices and Ukraine's forests. Ukraine is hosting an exhibition space this year for the first time at a U.N. climate conference in Sharm el-Sheikh, Egypt. He criticised world leaders for paying lip service to climate change without delivering real change. "There are still many for whom climate change is just rhetoric or marketing ... but not real action," he said. A GREENER FUTUREMembers of Ukraine's delegation to COP27 said they hoped their presence drew global attention to the climate and environmental consequences of Russia's February invasion.

HOUSTON, Nov 7 (Reuters) - A unit of Italian oil company Eni (ENI.MI) has been assigned two 1-million-barrel cargoes of Venezuelan diluted crude oil for November loading, according to a document from state-run PDVSA seen by Reuters on Monday. The cargoes mark the resumption of an oil-for-debt deal authorized by the U.S. government earlier this year as an exception to sanctions on Venezuela's oil sector. Eni plans to take the Venezuelan crude onboard the Suezmax tankers Africa and Gladiator. Africa was in Venezuelan waters on Monday waiting to load, while Gladiator is scheduled to depart from U.S. waters to Venezuela after discharging a previous cargo, according to Refinitiv Eikon vessel monitoring data. Between June and July, Eni received a total of 3.6 million barrels of DCO.

JIP, Chubu Electric and Orix will each invest 100 billion yen, the paper said, without saying where it got the information. A Toshiba representative declined to comment, saying the company could not "answer information about candidates, including co-investors, as it may undermine fair process". Investor focus could now turn to another potential bidder, state-backed fund JIC, which sources have said is also preparing a bid. The fund has been in talks with U.S. private equity fund Bain Capital and north Asia fund MBK Partners to form a separate consortium, sources have said. Differences over JIP's plan to retain Toshiba's management were a source of friction between the two, Reuters has reported.

☆ Japanese consortium submits 2.2 trln yen Toshiba bid, Nikkei reports
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 7 (Reuters) - A consortium of more than 10 Japanese companies, led by the Japan Industrial Partners investment fund, has submitted a bid to buy Toshiba Corp (6502.T) for about 2.2 trillion yen ($15.01 billion), the Nikkei newspaper reported on Monday. The consortium, including Chubu Electric Power Co Inc (9502.T) and Orix Corp (8591.T), appears not to have obtained commitment letters from banks but is aiming to complete the lending deal by end-November if Toshiba accepts the bid to go private, Nikkei said. Japanese companies in the consortium will spend about 1 trillion yen, while multiple overseas funds decided not to join the bid due to expectations for low returns, the newspaper added. When asked for a comment on the report, a Toshiba representative said the company "cannot answer information about candidates, including co-investors, as it may undermine fair process". ($1 = 146.5400 yen)Reporting by Kantaro Komiya and Makiko Yamazaki; Editing by David Goodman and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Japan, Germany eye military logistics pact -Japan official
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 3 (Reuters) - Japan and Germany have agreed to work towards a military logistics pact, a Japanese government official said on Thursday, as Tokyo and Berlin tighten security relations on the back of Russia's invasion of Ukraine and China's growing military might. The official made the comment during an online media briefing following a meeting of the two countries' foreign and defence ministers in Germany. "They agreed to press ahead with coordination to launch negotiations aimed at setting up a legal framework to facilitate joint activities between Japan's Self-Defence Forces and the German military," the official said. Such a pact typically spells out rules on mutually providing fuel, food and transportation, among other things, for joint activities such as military drills, peace-keeping operations and disaster relief. Japan and Germany already have an agreement to facilitate intelligence sharing and a pact to promote transfers of defence equipment and technology.

☆ U.S. imposes sanctions on oil smuggling network backing Iran's Quds Force, Hezbollah
▼ + stars: | 2022-11-03 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 3 (Reuters) - The United States on Thursday issued sanctions against an international oil smuggling network it said supports Hezbollah and Iran's Quds Force, targeting dozens of people, companies and tankers as Washington sought to mount pressure on Tehran. The latest U.S. move against Iranian oil smuggling comes as efforts to revive Iran's 2015 nuclear deal have stalled and ties between the Islamic Republic and the West are increasingly strained as Iranians keep up anti-government protests. Iran's mission to the United Nations in New York did not immediately respond to a Reuters request for comment. The move targeted a Gulf-based network that the Treasury said as of mid-2022 were blending and exporting Iranian oil. The 2015 agreement limited Iran's uranium enrichment activity to make it harder for Tehran to develop nuclear arms in return for lifting international sanctions.

Creditors and investors are closely monitoring how China, the world's largest bilateral lender, is managing debt negotiations around the world. The policy bank has extended to Zambia more than half of Chinese loans while a $982 million loan was made jointly with the Industrial Commercial Bank of China (ICBC). Including commercial lending, Zambia government data showed it owed more than a third of its $17.27 billion external debt to Chinese lenders by end-2021. Reuters GraphicsThe bank also leads China's team in Ethiopia's bilateral debt talks, its state finance minister told Reuters last month. In 2018, EximBank agreed to extend repayment on a loan worth at least $2.5 billion for a railway between Addis Ababa and Djibouti by 20 years.

☆ Teva to pay $523 mln to New York as it looks to move past opioid lawsuits
▼ + stars: | 2022-11-03 | by ( Steven Scheer | ) www.reuters.com time to read: +4 min

JERUSALEM, Nov 3 (Reuters) - Teva Pharmaceutical Industries Ltd (TEVA.TA) will pay up to $523 million to New York State as part of a nationwide settlement of lawsuits alleging the company helped fuel the U.S. opioid epidemic. The settlement with New York adds an additional $300 million to Teva's total opioid payouts. James said the Teva settlement concludes the state's litigation against opioid manufacturers and distributors. Citing "continued foreign exchange headwinds", Teva lowered its 2022 revenue estimate to between $14.8 billion and $15.4 billion from a previously forecast $15 billion to $15.6 billion. Teva expects its two branded drugs, Ajovy to treat migraines and Huntington's disease drug Austedo, to reach a combined $1.4 billion in revenue this year.

☆ Factbox: Advertisers react to Twitter's new ownership
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla boss Elon Musk, who once tweeted "I hate advertising". General Motors Co (GM.N)The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership." The Interpublic Group of Companies Inc (IPG.N)The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported. Compiled by Alberto Chiumento, Philipp Krach and Antonis Pothitos; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Canadian dollar forecasts cut as BoC trails Fed on peak-rate bets - Reuters poll
▼ + stars: | 2022-11-02 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

The currency has weakened over 7% against the U.S. dollar since the start of 2022. It was then expected to rally to 1.31 in a year, versus 1.30 expected in last month's poll. "That implied spread between terminal rates in Canada and the United States will probably have to widen out further and that could take the U.S. dollar higher across the board including against the Canadian dollar." Investors are betting on a terminal rate, or peak level for interest rates, from the BoC in the coming months of 4.25%. "We see less interest in investing money back into the ground in the oil patch when oil prices are high and so there's less room (for the currency) to fall when oil prices are low."

☆ Pope visit a dream come true for woman whose father helped build Bahrain church
▼ + stars: | 2022-11-02 | by ( Hamad Mohammed | ) www.reuters.com time to read: +2 min

[1/5] Najla Uchi poses for a photo on her altar in her home in Manama, Bahrain, October 30, 2022. REUTERS/Hamad I Mohammed/File PhotoMANAMA, Nov 2 (Reuters) - When Pope Francis visits Bahrain this week, it will be a dream come true for many Christians in the Gulf Arab country, but especially for Najla Uchi, whose father helped build the first Roman Catholic church in the island state. Lighting a candle at her home altar lined with religious icons, 78-year-old Najla Uchi said she had been saying a daily prayer for Pope Francis, who is due to arrive on Thursday. In the Sacred Heart Church yard, people pose for pictures in front of posters of Pope Francis. In 2019, Pope Francis visited Abu Dhabi in the United Arab Emirates, the first pontiff to visit the Arabian peninsula and say a Mass there.

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