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☆ Major Russian assault in Vuhledar unlikely to yield breakthrough, UK says
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - A major new Russian assault on the Ukrainian-held bastion of Vuhledar could make local gains but is unlikely to lead to an operational breakthrough, Britain's Ministry of Defence said on Tuesday. However, it is unlikely that Russia has sufficient uncommitted troops in the area to achieve an operationally significant breakthrough." Vuhledar lies at the southern-most end of the eastern front in Ukraine, overlooking railway lines that supply Russian forces on the adjacent southern front. Ukraine has repelled several Russian attacks on the town since the start of the war. The administrator of Russian-held territory in the Donetsk region has claimed that Russian forces have secured a foothold inside Vuhledar since launching their latest assault there.

☆ China's Baidu to launch ChatGPT-style bot in March -source
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Jan 30 (Reuters) - Chinese internet search major Baidu Inc (9888.HK) is planning to launch an artificial intelligence (AI) chatbot service similar to OpenAI's ChatGPT in March, a person familiar with the matter told Reuters. The technology firm plans to launch the service as a standalone application and gradually merge it into its search engine, said the person, who declined to be identified as the information is confidential. Baidu plans to incorporate chatbot-generated results when users make search requests, instead of only links, the person said. The company has also worked to add OpenAI's image-generation software to its Bing search engine in a new challenge to Alphabet Inc's (GOOGL.O) Google. At a developer conference last month, Baidu unveiled three AI-powered "creators" whose technology allows them to assume the roles of screenwriter, illustrator, editor or animator.

☆ EY Germany to make structural changes in cost-reduction push
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - The German unit of EY, formerly known as Ernst & Young, has decided to make structural changes with a focus on personnel measures and reductions of non-personnel costs, a company spokesperson told Reuters on Thursday in an emailed statement. The company has initiated discussions with the so-called co-determination body, the spokesperson said, referring to the German system that gives workers a say in corporate decision-making. EY, one of the "Big Four" global accountant firms, had audited and certified payments company Wirecard's books even as journalists and investors raised questions about its finances. Wirecard collapsed in 2020 after it was forced to admit that 1.9 billion euros ($2.07 billion) were missing from its balance sheet. ($1 = 0.9165 euros)Reporting by Gokul Pisharody and Jyoti Narayan in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Accel, Tiger Global mull exiting India's Flipkart in $1.5 bln stake sale - ET
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

The stake, which collectively amounts to about 5%, would raise Walmart's ownership in the e-commerce giant, the newspaper reported citing people familiar with the matter. "They (Accel and Tiger) want to sell and exit now fully. The discussions are moving ahead and the transaction will close in due time," a person familiar with the matter told ET. Accel owns a little over 1% of Flipkart, while Tiger Global holds about 4% of the company, the report said. Flipkart, Walmart and Tiger Global did not immediately respond to Reuters' requests for comment.

Jan 24 (Reuters) - Hedge fund Elliott Management Corp has built a "significant" stake in Japanese automotive battery component supplier Dai Nippon Printing Co Ltd (DNP) (7912.T), sources familiar with the matter told Reuters on Tuesday. A DNP spokesperson said the company had confirmed Elliott's investment late last year, but declined to comment on details. The Financial Times, which first reported the news, said Elliott now holds a stake just under 5% worth $300 million. Elliott declined to comment. It recently won a board seat at Pinterest Inc (PINS.N) when the company added Elliott portfolio manager Marc Steinberg as a director.

☆ CNH Industrial union workers end strike at two U.S. plants with deal
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Members of two local unions at CNH Industrial NV (CNHI.MI) factories in Wisconsin and Iowa reached an agreement over a new labor contract on Saturday, ending a strike that has been ongoing since last May, the United Auto Workers union said. The contract, which was voted on as an improved "last, best, and final offer" by CNH Industrial workers, included wage increases, shift premium increases, classification upgrades and as other improvements, the UAW said in a statement. The UAW, which represents more than 1,000 hourly workers at the two plants, did not disclose details of the vote. More than 1,000 union members in Racine, Wisconsin, and Burlington, Iowa, walked off their equipment-making jobs in May after a six-year contract expired at the facilities. The agreement came after the local unions had this month rejected a tentative contract.

☆ Brazil and Argentina to discuss common currency
▼ + stars: | 2023-01-22 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 22 (Reuters) - Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned. "We also decided to advance discussions on a common South American currency that can be used for both financial and commercial flows, reducing costs operations and our external vulnerability," the article said. Earlier in the day, the Financial Times reported the neighboring nations will announce this week that they are starting preparatory work on a common currency. . . a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,” Argentina’s economy minister Sergio Massa told the Financial Times. Reporting by Lisandra Paraguassu; Additional reporting by Jyoti Narayan in Bengaluru; Editing by Tomasz Janowski and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil and Argentina to begin preparations for common currency, Financial Times reports
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Brazil and Argentina will announce this week that they are starting preparatory work on a common currency, the Financial Times reported on Sunday. The plan, set to be discussed at a summit in Buenos Aires this week, will focus on how a new currency which Brazil suggests calling the "sur" (south) could boost regional trade and reduce reliance on the U.S. dollar, FT reported citing officials. . . a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,” Argentina’s economy minister Sergio Massa told the Financial Times. Politicians from both countries have discussed the ideaalready in 2019, but met with pushback from Brazil's central bank at the time. Reporting by Jyoti Narayan in Bengaluru Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Party City files for Chapter 11 bankruptcy protection
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 17 (Reuters) - Party City Holdco Inc (PRTY.N) filed for Chapter 11 bankruptcy protection on Tuesday, casting doubts on the retailer's future, as it grapples with dampening sales due to inflation and higher operating costs. The Rockaway, New Jersey-based party supplies retailer reported $1 billion to $10 billion of both estimated assets and liabilities, and said it had obtained $150 million in debtor-in-possession financing to support its operations. Party City subsidiaries outside of the U.S., its Party City franchise stores, and its Anagram business were not part of the bankruptcy proceedings, the company said. It expected restructuring to be completed in the second quarter of this year and said its stores would remain open while the company navigates through the bankruptcy process. Reporting by Granth Vanaik and Jyoti Narayan in Bengaluru; Editing by Maju Samuel and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto exchange Coinbase says it will halt Japan operations
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) on Wednesday said it will halt operations in Japan due to volatile market conditions. All Coinbase Japan customers will have until Feb. 16 to withdraw their fiat and crypto holdings, the company said in a blog post. Coinbase's decision to exit comes only a few weeks after rival exchange Kraken said it, too, would cease its operations in Japan this month. Several firms have suffered from waning investor appetite for crypto after major exchange FTX blew up in September. The crypto sector's woes have continued this year, marked by plunging deposits, layoffs and multiple legal hurdles.

☆ Crypto exchange Coinbase says to halt operations in Japan
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

☆ New York nurses end strike after reaching deals with hospitals on staffing
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/3] A hospital worker raises a fist as NYSNA nurses walk off the job, to go on strike at Mount Sinai Hospital in New York City, U.S. January 9, 2023. REUTERS/Andrew KellyJan 12 (Reuters) - A strike involving over 7,000 nurses at two New York City hospitals has ended after three days, as they reached tentative deals with hospitals over staffing levels, the New York State Nurses Association (NYSNA) said on Thursday. Nurses at Montefiore Medical Center in the Bronx and Mount Sinai Hospital in Manhattan will go back to work Thursday morning after reaching an agreement for "enforceable safe staffing ratios", the NYSNA said in a statement. "Through our unity and by putting it all on the line, we won enforceable safe staffing ratios at both Montefiore and Mount Sinai where nurses went on strike for patient care," said NYSNA President Nancy Hagans. The nurses went on strike on Monday after contract negotiations stalled over pay and staffing levels, a move that caused Montefiore to reschedule all elective surgeries and procedures and postpone appointments at ambulatory locations.

☆ Biden declares emergency for California due to winter storms
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: 1 min

Jan 9 (Reuters) - U.S. President Joe Biden approved an emergency declaration for California after a week of storms killed at least 12 people in the past 10 days and knocked out power for hundreds of thousands of homes and businesses in the state. The emergency declaration authorizes the Federal Emergency Management Agency (FEMA) to coordinate disaster relief efforts and mobilize emergency resources, the White House said in a statement. In the last week, severe weather spawned violent wind gusts that toppled trucks, flooded the streets of small towns along northern California's coast and churned up a storm surge that destroyed a pier in Santa Cruz. Reporting by Jyoti Narayan in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Seattle public schools blame tech giants for social media harm in lawsuit
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +3 min

The lawsuit says the companies' actions have been a substantial factor in causing a youth mental health crisis. Students with mental health issues perform worse, causing schools to take steps including training teachers to identify and address such symptoms, hire trained personnel, and create additional resources to warn students about the dangers of social media, the complaint said. In 2021, U.S. lawmakers accused Facebook CEO Mark Zuckerberg of pushing for higher profits at the expense of children's mental health following testimony by whistleblower Frances Haugen. "We make money from ads, and advertisers consistently tell us they don't want their ads next to harmful or angry content. And I don't know any tech company that sets out to build products that make people angry or depressed."

☆ Magnitude 7.2 earthquake strikes near Vanuatu - USGS
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: 1 min

Jan 8 (Reuters) - A 7.2 magnitude earthquake struck 40 km (25 miles) west of Vanuatu's town of Port-Olry, United States Geological Survey said on Sunday. The earthquake was at a depth of 10 km, USGS said. "Tsunami waves reaching 0.3 to 1 meters above the tide level are possible for some coasts of Vanuatu," said the Pacific Tsunami Warning Center. Reporting by Jyoti Narayan in Bengaluru Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ TikTok-owner ByteDance cuts hundreds of jobs in China - SCMP
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: 1 min

Jan 3 (Reuters) - ByteDance, the Chinese parent company of video app TikTok, has laid off hundreds of employees across multiple departments at the end of 2022 as part of a cost-cutting measure, the South China Morning Post reported on Tuesday. The job cuts have been implemented at Douyin, the Chinese equivalent of TikTok with about 600 million daily users, as well as the company's gaming and real estate operations, SCMP reported citing sources. The job cuts represent a small percentage of ByteDance's workforce, the report added. ByteDance did not immediately respond to Reuters' request for comment. Reporting by Jyoti Narayan in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Sun apologizes for Jeremy Clarkson's Meghan column
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - Britain's Sun newspaper on Friday apologized for publishing a column by British television presenter Jeremy Clarkson about Prince Harry's wife Meghan, days after it became the UK press standards regulator's most complained about article. "We at The Sun regret the publication of this article and we are sincerely sorry," the newspaper said in a statement, adding that the article had been removed from its website and archives. Britain's Independent Press Standards Organisation (IPSO) regulator said on Tuesday that it had received more than 17,500 complaints, the most about any article since it was established in 2014. In a statement posted on Twitter on Monday, Clarkson said he was "horrified to have caused so much hurt" and would be "more careful in future". loadingReporting by Jyoti Narayan in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Britain's Purplebricks to cut more than 10% of jobs - The Times
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Purplebricks Group PLC (PURP.L), Britain's biggest online-only real estate agency, will cut more than 10% of its workforce as part of a cost-cutting program, The Times reported on Wednesday. Online-only agencies promote properties for sale or letting but leave more of the work to owners. Purplebricks has undergone multiple major management reshuffles this year, including the appointment of Dominique Highfield as its new chief financial officer (CFO) in October. Purplebricks did not immediately respond to a request from Reuters for comment. Reporting by Jyoti Narayan in Bengaluru; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Air India close to signing deal for 150 Boeing 737 Max jets - ET
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

Dec 10 (Reuters) - Air India is close to signing an order with Boeing Co to acquire up to 150 737 Max jets, the Economic Times newspaper reported on Saturday, citing sources. The Tata Group-owned Indian carrier will likely place a firm order for 50 737 Max planes with an option to pick up as many as 150, the ET report said. Boeing's last mega order in India came in 2021 when low-cost airline Akasa struck a deal to buy 72 737 MAX jets, valued at nearly $9 billion at list prices. Boeing declined to comment, saying it would "defer to Air India" for a response. Air India did not respond to a request for comment.

☆ U.S. House committee chair says Bankman-Fried subpoena 'definitely on the table'
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

Dec 7 (Reuters) - U.S. House of Representatives Financial Services Committee Chair Maxine Waters tweeted on Wednesday that a subpoena of FTX founder Sam Bankman-Fried was "definitely on the table." loadingWaters' tweet was in response to a CNBC report earlier in the day that said she did not plan to subpoena Bankman-Fried to testify before Congress on Dec. 13. Waters had earlier said on Twitter that it was imperative that the FTX founder testify and that the committee was "willing to schedule continued hearings if there is more information to be shared later." Reporting by Jyoti Narayan in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Britain finalises plans for regulation of crypto industry - FT
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

Dec 5 (Reuters) - Britain's Treasury is finalising plans for a package to regulate the cryptocurrency industry, including limits on foreign companies selling into the country and restrictions on advertising, the Financial Times reported on Monday. Reporting by Jyoti Narayan in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ FTX's LedgerX attracts interest from Blockchain.com, Gemini- Bloomberg
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - FTX's digital currency futures and clearinghouse LedgerX is up for sale and has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalshi, Bloomberg reported on Friday, citing people familiar with the matter. There could be over half a dozen other potential buyers for the crypto derivatives exchange, the people told Bloomberg, adding that some of the interested parties have signed non-disclosure agreements. Blockchain.com, Gemini and Bitpanda did not immediately respond to Reuters' request for comment, while Kalshi could not be reached for comment. FTX US acquired it last year to expand into crypto futures and options trading. Reporting by Jyoti Narayan in Bengaluru; Editing by Sandra Maler and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Cineworld creditors mull sale of east European theatres -Bloomberg News
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - Cineworld Group PLC's (CINE.L) lenders have held talks on breaking up the bankrupt cinema chain and selling its eastern Europe operations, Bloomberg reported on Friday. The cinema chain operator announced a bankruptcy settlement with its landlords and lenders on Oct. 31, and also agreed to explore a potential sale of its business and allow creditor input on its business plan. Cineworld filed for Chapter 11 bankruptcy protection in Texas on Sept 7. It cited difficult conditions for movie theaters, as well as high debt stemming from its $3.6 billion purchase of Regal as reasons for its bankruptcy. Reporting by Jyoti Narayan in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Three dead, two injured in University of Virginia campus shooting
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - A shooting on the campus of the University of Virginia late Sunday left three people dead and two wounded, university police said in a tweet, adding that the suspect was still at large and "armed and dangerous". The university police identified a student, Christopher Darnell Jones as the suspect, and said multiple agencies were engaged in an active search. Jones was described as wearing a "burgundy jacket, blue jeans and red shoes", and may have been driving a black SUV, according to the authorities. The shooting is the latest in a wave of gun violence on U.S. college and high school campuses in recent years. Reporting by Jyoti Narayan in Bengaluru; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ FTX collapse being scrutinized by Bahamas authorities
▼ + stars: | 2022-11-13 | by ( Jasper Ward | ) www.reuters.com time to read: +4 min

[1/3] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloNASSAU, Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any "criminal misconduct occurred," the Royal Bahamas Police said on Sunday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said. Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours. In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.

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