DIRS.INFO The most relevant business & tech news

☆ US transport chief aims to ensure Cruise, other self-driving vehicles safe
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Cruise CEO Kyle Vogt resigned on Sunday, a day after apologizing to staff as the company undergoes a safety review of its U.S. fleet. Cruise pulled all of its vehicles from U.S. testing after an Oct. 2 accident in San Francisco that involved another vehicle and ended with one of Cruise's self-driving taxis dragging a pedestrian. "We're going to do everything we can with the authorities we do have, which are not trivial," Buttigieg told reporters. The unit had in recent months touted ambitious plans to expand to more cities, offering fully autonomous taxi rides. Cruise competes with Alphabet's (GOOGL.O) Waymo in deploying autonomous vehicles and had been testing hundreds in several cities across the United States, notably its home of San Francisco.

Persons: Transportation Pete Buttigieg, Joe Biden, Leah Millis, Pete Buttigieg, Kyle Vogt, Cruise, Buttigieg, David Shepardson, Will Dunham, Chizu Organizations: Transportation, South, REUTERS, Rights, . Transportation, Motors, Traffic Safety Administration, California Department of Motor Vehicles, Transport Workers Union of America, Brotherhood of Teamsters, United Auto Workers, NHTSA, Thomson Locations: Washington , U.S, San Francisco, Buttigieg's, United States

☆ UAW says 64% of workers vote to ratify Detroit Three contracts
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Nov 20 (Reuters) - The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new contracts. Despite the opposition from workers at some major facilities, UAW members voted to ratify the contract by a near two-third margin. Automakers, looking to trim costs as they make the shift to electric vehicles, face higher hourly labor costs. About 55% of votes cast by GM members were in favor of the new deal, while about 69% of Ford members and 68% of Stellantis workers who voted supported the agreement, according to a UAW vote tracker. Reporting by David Shepardson and Shivansh Tiwary; Editing by Chizu Nomiyama and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Shawn Fain, Ford, Jim Farley, David Shepardson, Chizu Nomiyama Organizations: United Auto Workers, UAW, Detroit Three, U.S, Ford, GM, Chrysler, Thomson Locations: Michigan , Kentucky, Illinois

☆ Dutch far-right candidate Baudet assaulted two days before election
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Dutch politician Thierry Baudet of the Forum for Democracy speaks after announcement of exit polls results of European elections in Amsterdam, Netherlands, May 23, 2019. REUTERS/Eva Plevier/File Photo Acquire Licensing RightsAMSTERDAM, Nov 20 (Reuters) - Thierry Baudet, the leader of a far-right political party in the Netherlands, was assaulted during a campaign event two days before a national election, his party said. In a statement, Baudet's Forum for Democracy (FvD) said he had been struck in the back of the head with a beer bottle and struck on his temple. The assault drew condemnation as "totally unacceptable" from outgoing Prime Minister Mark Rutte, who is not a candidate in the Nov. 22 election. Baudet's FvD Party is known as Euro-sceptic, Dutch nationalist and anti-immigration.

Persons: Thierry Baudet, Eva Plevier, Baudet, Mark Rutte, Baudet's, Toby Sterling, Chizu Organizations: Forum, Democracy, REUTERS, Rights, for Democracy, Baudet's FvD, Dutch, Thomson Locations: Amsterdam, Netherlands, Groningen

☆ Citigroup CEO announces management changes, 'difficult' decisions
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Jane Fraser, Chief Executive Officer of Citi, looks on during the Global Financial Leaders' Investment Summit, in Hong Kong, China November 7, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsNEW YORK, Nov 20 (Reuters) - Citigroup (C.N) CEO Jane Fraser announced the next layer of management changes in a sweeping reorganization, according to a memo to staff on Monday. "The actions we're taking to reorganize the firm involve some difficult, consequential decisions, but we believe they are the right steps to align our structure with our strategy," Fraser said in a separate statement. Specific leadership changes across businesses and functions will be communicated by executives on Monday and later posted on an internal site, the memo to employees said. Reporting by Tatiana Bautzer, editing by Lananh Nguyen and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jane Fraser, Tyrone Siu, Fraser, Tatiana Bautzer, Lananh Nguyen, Chizu Organizations: Citi, Global Financial, Investment, REUTERS, Citigroup, Thomson Locations: Hong Kong, China

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. This move would effectively suspend production at the Cobre Panama mine until coal supplies resume as the mine cannot operate without power, one of the sources said. Protests have escalated since the government and First Quantum signed a new contract on Oct. 20 for Cobre Panama, which contributes 1% to global copper production and 5% to Panama's gross domestic product. "The focus will be to maintain the tailings pond 24/7," one of the sources said about the maintenance. Panama's top court will hear the legality of the contract awarded to First Quantum from Nov, 24, the company said in the statement.

Persons: Divya Rajagopal, Julian Luk, Denny Thomas, Chizu, Marguerita Choy Organizations: Minerals, REUTERS, Aris, Rights, Cobre, Reuters, First, Thomson Locations: Panama, Donoso, Rights TORONTO, LONDON, Cobre Panama, Toronto, London

☆ U.S. senators expect Meta, TikTok CEOs to testify at hearing on child sexual exploitation
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

[1/2] U.S. Sen. Lindsey Graham (R-SC) arrives for a hearing with the U.S. Senate Judiciary Committee on President Joe Biden’s judicial nominees on Capitol Hill in Washington, U.S., January 25, 2023. REUTERS/Leah Millis Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - The U.S. Senate Judiciary Committee said it will hold a Dec. 6 hearing on online child sexual exploitation and expects Meta (META.O) CEO Mark Zuckerberg and TikTok CEO Shou Zi Chew will agree to testify voluntarily. The committee also has issued subpoenas to the CEOs of Discord, Snap (SNAP.N), and X, formerly known as Twitter, to compel them to testify. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” said Durbin and Graham in a joint statement. Reporting by David Shepardson, Jasper Ward and Doina Chiacu; Editing by Caitlin Webber and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Lindsey Graham, Joe Biden’s, Leah Millis, Mark Zuckerberg, Shou Zi Chew, Dick Durbin, Republican Lindsey Graham, ”, Durbin, Graham, X, David Shepardson, Jasper Ward, Doina, Caitlin Webber, Chizu Organizations: . Sen, U.S . Senate, Capitol, REUTERS, Rights, U.S, Senate, Committee, Republican, U.S . Marshals Service, Thomson Locations: Washington , U.S

☆ Biden Energy Adviser to Discuss Lebanon Border Issues on Israel Trip -US Official
▼ + stars: | 2023-11-20 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - President Joe Biden's energy security adviser Amos Hochstein was traveling to Israel on Monday to discuss issues related to the northern border with Lebanon, including how to stop the Gaza conflict from spreading, a U.S. official said. "This trip builds on Hochstein's visit to Beirut earlier this month where he made clear the United States does not want to see conflict in Gaza escalating and expanding into Lebanon," the official said. "While in Israel, Hochstein will emphasize that restoring calm along Israel's northern border is of utmost importance to the United States and it should be a top priority for both Israel and Lebanon." Hochstein helped to finalize a maritime demarcation deal last year between Israel and Lebanon, bringing a measure of accommodation between the enemy states as they eyed offshore energy exploration. However, tensions have escalated along the border since cross-border raids that Israel says killed 1,200 people.

Persons: Joe Biden's, Amos Hochstein, Hochstein, Steve Holland, Doina, Chizu Nomiyama Organizations: WASHINGTON, U.S Locations: Israel, Lebanon, Gaza, Beirut, United States, Palestinian, Lebanese

☆ Japanese pitching sensation Yamamoto posts for MLB free agency
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Nov 20 (Reuters) - Yoshinobu Yamamoto is poised to become Major League Baseball's next big Japanese star after the 25-year-old pitching sensation posted as a free agent on Monday. Yamamoto was posted on Monday by the Orix Buffaloes of Nippon Professional Baseball (NPB) where he is a three-time winner of the Eiji Sawamura Award, which is equivalent to MLB's Cy Young Award. He won a gold medal at the Tokyo Games in 2021 and helped Japan to victory at the World Baseball Classic earlier this year. Per MLB rules, the window for teams to bid on Yamamoto opens on Tuesday and closes on Jan. 4. Reporting by Rory Carroll in San Francisco; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoshinobu Yamamoto, Yamamoto, Eiji Sawamura, MLB's Cy Young, Rory Carroll, Chizu Organizations: Major League Baseball's, Orix Buffaloes, Nippon Professional Baseball, Triple Crown, NPB's Pacific League, Tokyo Games, MLB, Thomson Locations: Japan, San Francisco

☆ Toyota to pay $60 mln for lending abuses, tarnishing credit reports, US regulator says
▼ + stars: | 2023-11-20 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsCompanies Toyota Motor Corp FollowNov 20 (Reuters) - Toyota (7203.T) will pay $60 million to settle a U.S. regulator's charges it illegally prevented car buyers from canceling unwanted product bundles that increased their monthly loan payments, and tarnished buyers' credit reports. The Consumer Financial Protection Bureau (CFPB) on Monday said Toyota Motor Credit, the automaker's U.S.-based lending arm, will pay a $12 million civil fine and $48 million to car buyers harmed since 2016. Toyota Motor Credit, based in Plano, Texas, provides financing for people who buy vehicles at Toyota dealerships, with nearly 5 million customer accounts as of Oct. 2022. Toyota Motor Credit was also accused of falsely telling credit reporting agencies that borrowers had missed payments, and failing to promptly correct negative information for more than 27,500 borrowers. Under a consent order, and without admitting or denying liability, Toyota Motor Credit agreed to make it easy to cancel unwanted product bundles.

Persons: David, Dee, Delgado, Jonathan Stempel, Chizu Nomiyama, Bill Berkrot Organizations: New York, REUTERS, Rights, Toyota Motor, Toyota, Consumer Financial Protection Bureau, Monday, Motor Credit, Toyota Motor Credit, Thomson Locations: Manhattan , New York City, U.S, Plano , Texas, Monday's, New York

OpenAI and Altman did not reply to requests for comment. Kholsa Ventures, an early backer of OpenAI, wants Altman back at OpenAI but "will back him in whatever he does next," the fund's founder Vinod Khosla posted on X on Saturday. Others expressed support for joining Altman in starting a company, a third person familiar with the matter said. Tech website The Verge earlier reported the OpenAI board's discussions with Altman to return as CEO. Forbes reported on Saturday investors were plotting to restore Altman as CEO.

Persons: Sam Altman, Altman, Vinod Khosla, Altman's, Elon Musk, Greg Brockman, OpenAI, Brockman, Szymon Sidor, Sidor, Jony, SoftBank, Masayoshi Son, Brad Lightcap, Forbes, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li, William Mallard Organizations: Microsoft, Kholsa Ventures, Union, U.S, Altman, Reuters . Tech, Thomson Locations: OpenAI, New York, San Francisco, Gursimran Kaur, Bengaluru

☆ Trump vows to kill Asia trade deal being pursued by Biden if elected
▼ + stars: | 2023-11-19 | by ( Nathan Layne | ) www.reuters.com time to read: +2 min

Speaking to supporters in Iowa, Trump said he was against the regional trade deal being negotiated by the Biden administration with 13 other countries, arguing that it would hollow out U.S. manufacturing and trigger job losses. Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal that had been forged with many of the same countries after taking office in January 2017, said he would "knock out" what he referred to as "TPP Two" immediately upon taking office. The Biden administration had hoped to finish key chapters of its IPEF trade initiative in time for this week's Asia-Pacific Economic Cooperation (APEC) meeting. It has vowed to continue negotiating the ambitious deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Reporting by Nathan Layne in Fort Dodge, Iowa; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Shannon Stapleton, Joe Biden, Trump, Biden, Nathan Layne, Chizu Organizations: U.S, Trump Organization, Court, REUTERS, Republican, Economic, Pacific, Economic Cooperation, Thomson Locations: New York, Manhattan, New York City, U.S, DODGE , Iowa, Pacific, Iowa, Vietnam, Indonesia, Fort Dodge, Des Moines, Asia, Fort Dodge , Iowa

☆ U.S., Israel and Hamas reach tentative deal to pause conflict and free dozens of hostages- WaPo
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +1 min

Smoke rises after an Israeli airstrike in Gaza, as seen from southern Israel, amid the ongoing conflict between Israel and the Palestinian group Hamas, November 18, 2023. REUTERS/Alexander Ermochenko/File Photo Acquire Licensing RightsNov 18 (Reuters) - Israel, the United States and Hamas have reached a tentative agreement to free dozens of women and children held hostage in Gaza in exchange for a five-day pause in fighting, the Washington Post reported on Saturday, citing people familiar with the deal. Hamas took about 240 hostages during its Oct. 7 rampage inside Israel that killed 1,200 people. There was no immediate comment from the White House or the Israeli prime minister's office on the Post report. Reporting by Akanksha Khushi in Bengaluru and Doina Chiacu in Washington; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Alexander Ermochenko, Akanksha, Chizu Organizations: Palestinian, Hamas, REUTERS, Washington Post, Thomson Locations: Gaza, Israel, United States, Bengaluru, Doina, Washington

☆ International backlash grows after move to strip Guatemalan president-elect's immunity
▼ + stars: | 2023-11-19 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

Guatemala's President-elect Bernardo Arevalo stands on the Square of Human Rights outside the Supreme Court, in Guatemala City, Guatemala November 16, 2023. REUTERS/Cristina Chiquin/file photo Acquire Licensing RightsNov 18 (Reuters) - International rebuke swelled on Saturday over what observers say are efforts to use a politicized justice system to keep Guatemalan President-elect Bernardo Arevalo out of office. A prosecutor at Guatemala's attorney general's office on Thursday moved to strip Arevalo of his immunity from prosecution, accusing him and his running mate of complicity in the takeover of a university in the capital last year. In a statement on Saturday, the Inter-American Commission on Human Rights and its Office of the Special Rapporteur for Freedom of Expression, condemned the attorney general's office's "incessant improper actions and interference." Earlier Saturday, senior U.S. Department of State official Brian Nichols condemned the attorney general's office's "malign request" to strip Arevalo and his Vice President-elect Karin Herrera of immunity in a post on social media.

Persons: Bernardo Arevalo, Cristina Chiquin, Arevalo, general's office's, Brian Nichols, Karin Herrera, Herrera, Guatemalans, General Consuela Porras, Brendan O'Boyle, Chizu Organizations: Human, REUTERS, Guatemalan, Inter, American, Human Rights, U.S . Department of State, Democratic Initiative of Spain, Americas, Grupo IDEA, U.S, Movement, Thomson Locations: Guatemala City, Guatemala, Latin America, Spain

☆ Meta moves members of its Responsible AI team to other groups
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +1 min

Meta AI logo is seen in this illustration taken September 28, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 18 (Reuters) - Meta Platforms (META.O) is dispersing the members of its Responsible AI team among other groups in the company where they will continue to work on preventing harms associated with artificial intelligence, the company said on Saturday. Most of the Responsible AI team members will move to generative AI "and will continue to support relevant cross-Meta efforts on responsible AI development and use," the statement said. "We continue to prioritize and invest in safe and responsible AI development and these changes will allow us to better scale to meet our future needs," the spokesperson said. Meta's portfolio of AI products includes its language model "Llama 2" and an AI chatbot called Meta AI that can generate text responses and photo-realistic images.

Persons: Dado Ruvic, Gursimran Kaur, Chizu Nomiyama, Cynthia Osterman Organizations: REUTERS, Meta, Thomson Locations: Bengaluru

Companies Openai LLC FollowApple Inc FollowMicrosoft Corp Follow Show more companiesNov 18 (Reuters) - Sam Altman, the recently ousted CEO of OpenAI, has been working on a new artificial intelligence venture he is planning to launch, sources briefed on the plan said on Saturday. Altman could not be reached for comment and Brockman did not immediately respond to a Reuters request for comment. Some researchers at OpenAI, including Szymon Sidor, have quit the company over the CEO change but it was unclear if Sidor and others will join Altman's new venture. The board of OpenAI, the company behind hit product ChatGPT, on Friday pushed out its high-profile CEO Altman. Co-founder Brockman quit shortly after Altman was fired.

Persons: Sam Altman, Greg Brockman, OpenAI, Altman, Brockman, Szymon Sidor, Sidor, Jony, Masayoshi Son, Altman's, Brad Lightcap, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li Organizations: Microsoft, Reuters, Thomson Locations: New York, San Francisco, Gursimran Kaur, Bengaluru

☆ Meta breaks up its Responsible AI team, The Information reports
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +1 min

Meta AI logo is seen in this illustration taken September 28, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 18 (Reuters) - Meta Platforms (META.O) is breaking up its Responsible AI team that worked on understanding and preventing harms associated with the artificial intelligence technology it is developing, The Information reported on Saturday, citing an internal post. As the company diverts more resources to its generative AI work, most employees on the Responsible AI team will move to Meta's generative AI team that was formed in February, the report added. In October, the social media giant started rolling out generative artificial intelligence (AI) tools that can create content like image backgrounds and variations of written text for all advertisers. Meta's portfolio of AI products includes its language model "Llama 2" and an AI chatbot called Meta AI that can generate text responses and photo-realistic images.

Persons: Dado Ruvic, Meta, Gursimran Kaur, Chizu Organizations: REUTERS, Thomson Locations: Bengaluru

☆ El Salvador hosts Miss Universe as protesters denounce mass arrests
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

[1/3] Police officers stand guard at a protest to demand help for the release of people detained during the state of emergency decreed by the government to curb gang violence, ahead of the Miss Universe gala to be held in San Salvador, El Salvador November 18, 2023. The crackdown is widely popular among Salvadorans and has helped reduce crime and homicide rates, attracting international events like Miss Universe, which El Salvador has reportedly invested $60 million to host. Protesters in the capital San Salvador marched on Saturday from the city's Monument to the Constitution to a hotel where dozens of Miss Universe delegates are staying. "We want Miss Universe to see that Salvadorans are suffering," said Guadalupe Avila, 67, whose 27-year-old son Carlos was arrested 19 months ago. Some protesters wore sashes that said "Miss Political Prisoners," "Miss Persecution," and "Miss Mass Trials," referencing group trials that have been announced for thousands of people arrested in the crackdown.

Persons: Jose Cabezas, Nayib Bukele, Guadalupe Avila, Carlos, Avila, Nelson Renteria, Chizu Organizations: Police, Miss, San Salvador , El, REUTERS, SALVADOR, Saturday, Central American, El, Protesters, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, San Salvador

☆ El Salvador Hosts Miss Universe as Protesters Denounce Mass Arrests
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

SAN SALVADOR (Reuters) - At least 300 people protested in El Salvador on Saturday against an anti-gang crackdown they said was putting innocent people behind bars, hours before the Central American country hosts the Miss Universe competition for the first time since 1975. The crackdown is widely popular among Salvadorans and has helped reduce crime and homicide rates, attracting international events like Miss Universe, which El Salvador has reportedly invested $60 million to host. Protesters in the capital San Salvador marched on Saturday from the city's Monument to the Constitution to a hotel where dozens of Miss Universe delegates are staying. "We want Miss Universe to see that Salvadorans are suffering," said Guadalupe Avila, 67, whose 27-year-old son Carlos was arrested 19 months ago. Some protesters wore sashes that said "Miss Political Prisoners," "Miss Persecution," and "Miss Mass Trials," referencing group trials that have been announced for thousands of people arrested in the crackdown.

Persons: Nayib Bukele, Guadalupe Avila, Carlos, Avila, Nelson Renteria, Chizu Nomiyama Organizations: SALVADOR, Reuters, Saturday, Central American, Miss, El, Protesters Locations: El Salvador, San Salvador

☆ More Than 550 Russians Evacuated From Gaza So Far - Russia
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - More than 550 Russian nationals, including 230 children, have been evacuated from the Gaza Strip since the start of the process a week ago, Russia's emergencies ministry said on Sunday. Of those evacuated, 408 people have already been brought to Moscow, including 120 Russians that arrived late Saturday on a special flight from Egypt, the ministry said on the Telegram messaging app. A limited evacuation, which began on Nov. 1, of foreign passport holders and Palestinians needing urgent medical treatment to Egypt has faced difficulties. It is unclear how many Russian citizens are expected to leave Gaza. According to Russian media, some 1,000 Russians and nationals from the republics of the former Soviet Union have expressed a wish to leave.

Persons: Lidia Kelly, Chizu Nomiyama Organizations: Reuters, Soviet Union Locations: Gaza, Moscow, Egypt, Melbourne

☆ Factbox-APEC's 'San Francisco Principles' on Sustainability, Inclusiveness
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

SAN FRANCISCO (Reuters) - The Asia Pacific Economic Cooperation members on Friday adopted new trade and investment principles that seek to boost environmental sustainability and social well-being after China dropped its objections to the U.S. proposal. The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities."

Persons: David Lawder, Chizu Nomiyama Organizations: FRANCISCO, Reuters, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco Locations: China, U.S, Francisco, San Francisco, Brunei

☆ APEC's 'San Francisco Principles' on sustainability, inclusiveness
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities." Reporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Yoon Suk, Fumio Kishida, Joko Widodo, Lee Hsien Loong, Vo Van, Bongbong Marcos, David Lawder, Chizu Organizations: South, Japan's, FRANCISCO, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco, Thomson Locations: Singapore, Vietnam, Vo Van Thuong, Philippines, China, U.S, Francisco, San Francisco, Brunei

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Citigroup (C.N) employees expect announcements about management changes and layoffs on Monday in the next phase of the bank’s sweeping reorganization, according to four people familiar with the situation. Employees are awaiting more details about the scale of layoffs at the bank, which employs 240,000 people worldwide. Last month, Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. The third-largest U.S. lender will also eliminate co-heads of divisions and regional roles, cut 50% of internal financial management reporting and centralize decision making, it said in October. Support staff in compliance and risk management, and technology staff working on overlapping functions are at risk of being laid off, Reuters reported in September.

Persons: Andrew Kelly, Saeed Azhar, Bayliss, Tatiana Bautzer, Lananh Nguyen, Echo Wang, Isla Binnie, Chizu Organizations: Citibank, New York Stock Exchange, REUTERS, Citigroup, Financial Times, Citi, U.S, Reuters, Svea Herbst, Thomson Locations: Manhattan , New York City, U.S, New York

REUTERS/Evelyn Hockstein Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - The Federal Reserve's top bank watchdog defended its push to overhaul capital requirements, saying they would have a minimal impact on borrowing costs and make the industry more stable. Michael Barr, the Fed's vice chair for supervision, told a conference in New York on Friday that the so-called "Basel endgame" proposal is mainly focused on raising capital requirements for activities like trading, rather than lending. "Normally, we issue a proposal and then we get very detailed commentary, and we take those comment letters into account." Banks have loudly complained about the proposal, which overhauls how banks gauge their risk and require them to set aside more capital. Industry executives said the draft rules would force them to raise costs and potentially curb lending.

Persons: Michael Barr, Evelyn Hockstein, Banks, Barr, Pete Schroeder, Lananh Nguyen, Chizu Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Federal, Bank, National Football League, Industry, Thomson Locations: Washington , U.S, New York

☆ Amazon.com to cut 'several hundred' Alexa jobs
▼ + stars: | 2023-11-17 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

REUTERS/Steve Marcus/File Photo Acquire Licensing RightsNov 17 (Reuters) - Amazon.com (AMZN.O) on Friday announced it is trimming jobs at its Alexa voice assistant unit, citing shifting business priorities and a greater focus on generative artificial intelligence. Many companies are shifting resources to generative AI, which can create software code and lengthy text responses from short prompts. Alexa is a voice assistant that can be used to set timers, ask search queries, play music, or as a home automation hub. In particular, people familiar with the matter pointed to the Alexa voice assistant, now nearly a decade old, as having failed to keep pace in the age of generative artificial intelligence. The Seattle-based online retailer's voice assistant products compete with offerings from Alphabet (GOOGL.O) and Apple (AAPL.O).

Persons: Steve Marcus, Daniel Rausch, Panos Panay, David Limp, Jeff Bezos, Rausch, Greg Bensinger, Kenneth Li, Chizu Nomiyama, Jonathan Oatis Organizations: REUTERS, Alexa, Fire, Reuters, Devices, Microsoft, Amazon, Origin, Echo, Amazon.com, Apple, Thomson Locations: Las Vegas , Nevada, U.S, Panay, Seattle, San Francisco

☆ Treasuries see first weekly outflow since Feb as investors buy stocks
▼ + stars: | 2023-11-17 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. Investors snapped up $23.5 billion in stocks in the week to Nov. 15, marking the second largest weekly inflow into equities of 2023. Cash funds saw inflows of $20.5 billion, BofA said, and overall investors bought $2.6 billion in bonds, marking a sixth week of inflows. Outflows from emerging markets debt continued for the 16th week, with EM funds shedding $1.6 billion in the latest week. BofA's bull & bear indicator, a measure of market sentiment, rose marginally to 1.7 from 1.6, a contrarian "buy" signal, said BofA.

Persons: Kevin Lamarque, Cash, BofA, financials, Lucy Raitano, Amanda Cooper, Chizu Organizations: Department of, U.S . Treasury, REUTERS, Treasury, Bank of America, Investors, Federal Reserve, Thomson Locations: Washington , U.S, U.S, United States, Europe

Search resuls for: "Chizu Nomiyama"

25 mentions found