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☆ Chile's state miner launches subsidiaries to manage lithium takeover plan
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, May 19 (Reuters) - Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry. The government instructed Codelco in April to begin talks with companies running lithium mining operations in Chile's Atacama salt flats as part of a new lithium strategy that will see the state take majority stakes in all "strategic" projects. As well as talks with the world's two largest lithium miners, Albemarle (ALB.N) and SQM (SQMA.SN), Codelco has also been tasked by President Gabriel Boric's government with developing new alliances. On Thursday, SQM said it expected to begin talks with Codelco in the coming weeks. Reporting by Fabian Andres Cambero; Writing by Sarah Morland; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON/CARACAS, May 18 (Reuters) - The U.S. has assured the United Nations that it will shield a proposed UN-administered Venezuela humanitarian fund from creditors, people familiar with the matter said on Thursday, removing a key obstacle to getting the money flowing. Representatives of Maduro and the opposition announced agreement on the fund in brief negotiations in Mexico late last year meant to advance efforts to organize free elections in Venezuela. The fund is meant to aid ordinary Venezuelans suffering from economic and humanitarian crises. According to the four sources familiar with the matter, the U.S. notified the UN earlier this month that the funds would be safe from creditors. Dinorah Figuera, head of the Venezuelan opposition's legislature, said the U.S. move "opens the possibility that funds will reach the United Nations and open the door to negotiations."

☆ Long-necked dinosaur fossil found by Argentine scientists is one of biggest ever
▼ + stars: | 2023-05-18 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

The find in the Pueblo Blanco Nature Reserve, presented on Thursday, was first discovered by scientists in 2018. Paleontologist Nicolas Chimento said scientists decided to name the dinosaur "Chucarosaurus Diripienda", meaning hard-boiled and scrambled, because it had rolled around and survived the accident. At 50 tonnes and 30 meters in length, the Chucarosaurus is the largest-ever dinosaur discovered in the mountainous Rio Negro province. Some 140 dinosaur species have been discovered in Argentina, which ranks among the world's top three countries for research and discoveries alongside China and the United States. Reporting by Lucila Sigal; Writing by Sarah Morland; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ ‘The Night of the 12th’ Review: When a Case Doesn’t Close
▼ + stars: | 2023-05-18 | by ( Nicolas Rapold | ) www.nytimes.com time to read: +1 min

But Dominik Moll’s “The Night of the 12th” does just that, and then watches a French investigator labor away at a murder case before reluctantly abandoning it. This is a refreshingly grounded, deceptively plain picture of crime-fighting as a grind of false leads, workplace fatigue and no closure. After a few years, a judge takes interest in the cold case, funding new surveillance. But even though the inexpressive Yohan does seem like one of the good guys, he’s going in circles, and can’t even help his burned-out partner, Marceau (Bouli Lanners). Despite all the best intentions, “cracking a case” just doesn’t happen sometimes, and the movie (based on a nonfiction book by Pauline Guéna) matter-of-factly avoids the magical thinking we’ve absorbed from decades of macho crime-fighting yarns.

☆ From Kroger to Walmart, these are the top 10 most popular grocery chains in America
▼ + stars: | 2023-05-18 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Indeed, restaurant prices have risen faster than grocery prices over the last year, according to data from the Department of Labor. To rank the grocers, Placer.ai measured the "visit share" each retailer received in April. "Visit share" is the percentage of total visits that a retailer received during a given time frame compared to the other retailers also being analyzed. Kroger, with its more than 1200 locations in 16 states, was the top visited supermarket chain in the country, capturing 9.1% of the visit share in April. These are the 10 most popular supermarket chains in the country.

☆ Nicolas Sarkozy: Former French president ordered to wear electronic tag after losing corruption appeal
▼ + stars: | 2023-05-17 | by ( Dalal Mawad | ) edition.cnn.com time to read: +2 min

CNN —Former French President Nicolas Sarkozy has lost his appeal against a 2021 conviction for corruption and influence-peddling at the Paris court of appeals. The court on Wednesday upheld his initial sentence of three years of prison, with Sarkozy being required to wear an electronic bracelet under house arrest for one year, and two years suspended. “Nicolas Sarkozy is innocent,” his lawyer Jacqueline Laffont ttold CNN affiliate BFMTV on her way out of court. Sarkozy, who served as president between 2012 and 2017, has been convicted twice in separate cases since leaving office, both of which he has appealed. He also faces a number of other investigations including one into allegations of illegal campaign funding from Libya.

Sarkozy, 68, who served one term as French president from 2007 to 2012, has constantly denied any wrongdoing. In 2013, investigators looking into the Libyan connection decided to wire-tap two of Sarkozy's phone lines. As they did, they discovered a secret phone line used by the ex-president and his lawyer, ultimately leading to the corruption investigation. During the appeals trial, Sarkozy said "I'm here to defend my honour, which has been violated. The only other president during the course of France's 64-year-old Fifth Republic to be convicted by a court was Sarkozy's conservative predecessor, the late Jacques Chirac, who was found guilty of corruption in 2011.

☆ Here's why Trader Joe's will never embrace online shopping: 'The experience would not be the same'
▼ + stars: | 2023-05-16 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Don't expect to be able to order a block of Trader Joe's Unexpected Cheddar or a bag of Chili & Lime rolled corn chips to your door any time soon. The latest episode of the popular supermarket's in-house podcast, "Inside Trader Joe's," explains why the chain doesn't offer online shopping like competitors Aldi, Publix and Kroger, and is instead happy to keep running its business the way it has since it was founded in 1967. Building out a robust delivery operation would involve creating a network of warehouses to store products, as well as a delivery system to get those products to customers' doors. For a brand that closely watches its bottom line to keep prices low, it's a non-starter. "We love being a real place for a whole bunch of reasons and not just because it's where we started," co-host Matt Sloan said.

☆ HKEX launches China-Hong Kong Swap Connect to help offshore bond investors hedge
▼ + stars: | 2023-05-15 | by ( ) www.cnbc.com time to read: 1 min

Signage of the Hong Kong stock exchange in Hong Kong. HKEX has added a new scheme that will connect capital markets in Hong Kong and mainland. Hong Kong Exchanges & Clearing (HKEX) added a new Connect scheme linking markets in the financial hub with the mainland on Monday, by expanding into onshore interest rate derivatives to help offshore investors in Chinese bonds hedge their exposure. The interest rate Swap Connect scheme would further promote the yuan currency's global status, HKEX CEO Nicolas Aguzin said. Aside from helping offshore investors to manage interest rate risk and lower financing costs, the new scheme would improve efficiency of clearing and capital usage, said Haifeng Xu, deputy chief executive at Bank of China (Hong Kong).

☆ A Florida sushi restaurant has repaid staff $262,000 after it made servers share their tips with owners and managers, the Labor Department says
▼ + stars: | 2023-05-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

A Fort Myers restaurant made its 75 servers share their tips with its chefs, owners, and managers, the DOL said. The sushi restaurant repaid staff $262,000 after the DOL uncovered a number of labor-law violations. The restaurant's manager told The Fort Myers News-Press that it was "all cleared up now." Ginza Japanese Restaurant in Fort Myers made its 75 servers share their tips with its chefs, owners, and managers, the US Department of Labor said in a press release. Under the Fair Labor Standards Act, employers are not allowed to require their staff to share their tips with supervisors, managers, and business owners.

[1/4] A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin MarcarianBUENOS AIRES, May 12 (Reuters) - Argentina's annual inflation rate soared to 109% in April, the country's statistics agency said on Friday, smashing past analyst forecasts and stoking anger among hard-hit consumers who are increasingly having to skimp and save to get by. 2 economy, posted 8.4% monthly inflation in April, well above analyst forecasts of 7.5% and the highest in decades. The highest analyst estimate in a Reuters poll for April's monthly inflation rate had been 8.3%. Reuters Graphics Reuters GraphicsReporting by Miguel Lo Bianco; Writing by Nicolás Misculin; Editing by Adam JourdanOur Standards: The Thomson Reuters Trust Principles.

☆ 'Ted Lasso' co-creator Bill Lawrence's No. 1 rule on set: 'Don't be an ass----'
▼ + stars: | 2023-05-12 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

"Ted Lasso" became a global sensation in 2020 partly because of the kindness of its main character. But behind the scenes, being nice wasn't just a suggestion — it was a rule. In his commencement address to Sarah Lawrence College graduates on Friday, "Ted Lasso" co-creator Bill Lawrence broke down the No. 1 rule he gives every new actor and writer he hires: "Don't be an ass----." Lawrence, who also created "Scrubs," told the class of 2023 that he is blunt with his employees about the expectations he has for the way they treat each other, as well as other people, on set.

☆ Is Everyone Playing Padel Without Us?
▼ + stars: | 2023-05-11 | by ( Amelia Nierenberg | ) www.nytimes.com time to read: 1 min

SANTIAGO, Chile — There are only a handful of places to play pickleball here in Chile’s capital. In its place, a padel court will rise. “There’s just not enough people for it to be a profitable business right now,” said Nicolas Flores, 34, a founder of the Chile Padel Academy, said. Pickleball is one of the fastest-growing sports in the United States, while padel (pronounced PAH-del) is one of the fastest-growing sports in the world. If pickleball is Fahrenheit, padel is Celsius.

☆ Bethenny Frankel still had Ikea furniture while shooting 'Real Housewives of New York': 'I never spent a dime'
▼ + stars: | 2023-05-10 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

In a recent TikTok post, the 52-year-old spoke about how she was militant about not spending money she didn't have. Frankel earned just $7,250 for her star-making turn on the first season of "The Real Housewives of New York." "My apartment was furnished by Ikea when I was on the 'Housewives of New York,'" she said. In the years following her "Housewives" debut, Frankel started and sold her Skinnygirl Cocktails brand for a reported $100 million. "I was always terrified, because you don't spend money you don't f---ing have."

[1/2] Oil tanker Kerala, chartered by Chevron, is loaded in the Bajo Grande oil terminal at Maracaibo Lake, in the municipality of San Francisco, Venezuela, January 5, 2023. To back up its license application, Chevron last year signed an oil-for-debt swap with Venezuela's state-run PDVSA. The initial exports have rapidly drained the ventures' oil inventories, which had built up for years. Chevron plans to continue pushing up heavy crude output mainly at oilfields in eastern and western Venezuela belonging to its Petropiar and Petroboscan projects, according to the sources. GOLDEN TICKETChevron's license broke a four-year U.S. prohibition on Venezuelan oil exports to the United States designed to oust President Nicolas Maduro.

HOUSTON, May 8 (Reuters) - A U.S. court of appeals has granted Venezuela a temporary stay preventing six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. The companies had won conditional attachments to a federal case in which the judge has approved a process to auction the shares to pay a $970 million judgment won by miner Crystallex. The six hold arbitration awards or judgments that total about $2.6 billion and wanted those awards to be included in the auction. The proposed auction, which could break up the seventh largest U.S. refiner to pay creditors, took a giant step forward last month with a greenlight from the U.S. Treasury. Washington has since recognized the opposition-led congress as the entity controlling the refining subsidiary, extending protection to prevent its breakup at the hands of Venezuela creditors.

☆ 'Barry' creator Bill Hader describes 'incredibly lucky' 'SNL' break: 'It was preschool to Harvard overnight'
▼ + stars: | 2023-05-08 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Before he was an Emmy-winning actor for his critically acclaimed "Barry," Bill Hader struggled to get the career he wanted. Instead, it's been a matter of being in the right place at the right time. In a recent interview with the New Yorker, Hader recalls how he moved to Los Angles in 1999 with aspirations of one day being a director. He spent most of his 20s working as a production assistant, a postproduction assistant and then as an assistant editor on a reality TV show. The "Superbad" actor decided to take improv classes on the recommendation of a friend, and quickly saw his fortunes turn around.

☆ BANK OF AMERICA: Buy these 16 healthcare stocks to capture their collective 50% upside ahead of a sector rally
▼ + stars: | 2023-05-07 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Bank of America says healthcare stocks are usually strong performers in economic downturns. Their solid earnings and low valuations should help healthcare stocks going forward. The firm named 16 favorite stocks in the sector, including 3 that it thinks could double in price. Healthcare stocks aren't having a great year, but Bank of America says it sees signs that the tide is going to turn. Bank of America says the following 16 names are the best defensive and high-upside small- and mid-cap stocks in healthcare.

☆ Warren Buffett gave Alex Rodriguez 2 pieces of investing advice when he signed his $252 million contract
▼ + stars: | 2023-05-05 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

When he was just 25 years old, baseball superstar Alex Rodriguez signed a 10-year, $252 million contract with the Texas Rangers. The deal not only set A-Rod up for life from a financial standpoint, it also helped him create a valuable relationship with legendary investor Warren Buffett. In an interview with Bloomberg's David Rubenstein this week, A-Rod said he decided to cold-call the investor — who is 45 years his senior — after learning that Berkshire Hathaway was insuring his contract. "I reached out to him and I said "Warren, now that we're business partners, maybe I can come out and see you in Omaha,'" Rodriguez explained. "I said 'I'll be there, 'cause we're not going to the playoffs,'" Rodriguez replied.

☆ BMW cars segment sees earnings boost on higher pricing, EV sales
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] A BMW SUV moves down the assembly line at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. Inflation and interest rates in key markets are high. The carmaker continues to expect slight growth in Europe, robust sales in the United States, and a stabilising economy in China. BMW's financing and leasing business suffered in line with that of other carmakers like Porsche under persistently high interest rates and price Increases, with the volume of new business dropping 14% and earnings down 6.2%. Reporting by Victoria Waldersee; Editing by Maria SheahanOur Standards: The Thomson Reuters Trust Principles.

☆ We are setting up a defense hub in Singapore, says defense group
▼ + stars: | 2023-05-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are setting up a defense hub in Singapore, says defense groupNicolas Bouverot of Thales discusses the company's business strategy in Asia.

☆ Salad chain Sweetgreen reports narrowing losses as it aims for profitability
▼ + stars: | 2023-05-04 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Net sales climbed 22% year over year to $125.1 million, and same-store sales rose 5%, topping FactSet estimates of 4.9%. Sweetgreen CEO Jonathan Neman told CNBC that the chain's Chicken + Chipotle Pepper Bowl drew in new customers and generated buzz. Sweetgreen reiterated most of its 2023 forecast, which projects revenue between $575 million to $595 million and same-store sales growth of 2% to 6%.

☆ Tom Hanks used a popular productivity hack to write his first novel—here's how it works
▼ + stars: | 2023-05-04 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

With an Oscar-winning career spanning more than 80 films over four decades, Tom Hanks knows a thing or two about making movies. But when it came time for the 66-year-old to sit down and write his first novel, Hanks needed help. Despite employing the productivity boosting technique while writing his book, Hanks described his desire to write as nothing more than the pursuit of another creative outlet. "I just do writing," Hanks said. Hanks' novel will be released on May 9.

BRASILIA/BUENOS AIRES, May 4 (Reuters) - Argentina is seeking new easing of targets in its $44 billion deal with the International Monetary Fund and faster payouts, and is pushing to get key IMF members the United States and Brazil to support it, government officials said. It has ramped up pressure on Argentina and the IMF to revamp the debt program, the largest extended to any country worldwide. The ministry official said backing from the United States and Brazil was key for the IMF talks, and was "positive" about it given the countries' broader support for Argentina's economy. The U.S. Treasury and White House did not comment on record about potential support for Argentina's talks with the IMF. Argentina would need to reach a technical deal with IMF staff before any agreement went to the board for approval.

☆ Exclusive: Venezuela's oil tankers at risk of sinking, fires, spills, report finds
▼ + stars: | 2023-05-04 | by ( Mircely Guanipa | ) www.reuters.com time to read: +5 min

The report by PDVSA's maritime branch, entitled "Critical deficiencies and risks of PDV Marina's tanker fleet," said years of deferred maintenance had left the entire fleet with "low levels of reliability," at risk of spills, sinking, fires, collisions or flooding. The report, dated March 2023, was among eight documents shared with Reuters describing the state of PDVSA's tanker fleet from the oil company's corporate office, trading division and maritime branch, as well as Venezuela's maritime authority. Five of PDVSA's tankers are at least 30 years old, past their recommended lifespan, according to the PDV Marina report. "The tanker fleet is showing a decline in the quality of its operations due to advanced physical deterioration, which implies higher maintenance and repair costs. Planning for sending the tankers to dry docks has been very affected by lack of payment to shipyards and providers," the PDV Marina report said.

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