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☆ Turkish food delivery startup Getir to leave Spain, union says
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MADRID, June 30 (Reuters) - Turkish delivery startup Getir will cease its business in Spain and lay off its entire workforce there of 1,560 after failing to raise enough capital in a recent funding round, Spain's biggest trade union CCOO said on Friday. "We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain," the union said in a statement. Spain's food delivery market is dominated by Delivery Hero (DHER.DE)-owned Glovo, the Netherlands' Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), all three of which gained market share after Britain's Deliveroo (ROO.L) exited the country in late 2021. Getir Spain did not immediately reply to a request for comment. However, in an April deal, Getir reportedly only raised about $500 million, cutting its valuation almost in half to $6.5 billion.

Persons: CCOO, Britain's Deliveroo, Getir, Le Monde, Flink, David Latona, Sudip Kar, Gupta, Louise Heavens Organizations: Getir, Financial Times, Thomson Locations: MADRID, Spain, Netherlands, Getir Spain, France, Getir France, Istanbul, Getir, Paris

☆ Macron convenes new crisis meeting after worst night of rioting
▼ + stars: | 2023-06-30 | by ( Dominique Vidalon | ) www.reuters.com time to read: +5 min

Interior Minister Gerald Darmanin, who had deployed 40,000 officers on Thursday night in a bid to quell a third night of unrest, said on Twitter that police made 667 arrests. Macron will meet with his cabinet at 1100 GMT in Paris, likely cutting short his attendance at a European Union summit in Brussels, his office said. Twelve buses were set on fire and destroyed overnight in a depot in Aubervilliers, in northern Paris. They said they had made 307 arrests in and around the city and that nine police and fire officers had been injured. In Roubaix, in northern France, a fire destroyed the office of the TESSI company and several cars were set on fire.

Persons: Nahel, Emmanuel Macron, Gerald Darmanin, Macron, Elisabeth Borne, Clement Beaune, Laurent, Franck Lienard, didn't, Lienard, Jacques Chirac, Dominique Vidalon, Sudip Kar, Gupta, Jean, Stephane Brosse, Benoit Van Overstraeten, Pascal Rossignol, Elizabeth Pineau, Marc Leras, John Stonestreet Organizations: Firefighters, Twitter, Nationwide, Transport, RMC, Les, Nike, Police, Thomson Locations: Nanterre, Alma, Roubaix, France, Brussels, PARIS, Marseille, Lyon, Pau, Toulouse, Lille, Paris, Algerian, Aubervilliers, NANTERRE, Paris's, Rue, Rivoli, France's, Le Vieux, Clichy

☆ India’s stock market is hitting record highs. Here’s why
▼ + stars: | 2023-06-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy. The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan. The total value of Indian equities has hit $3.5 trillion, greater than the value of Europe’s two biggest stock markets, in the UK and France, according to data from Refinitiv. Bright prospectsThe surge in Indian equities is a reflection of the strength and potential of the country’s economy, according to economists and fund managers. “The Indian equity market is the classic example of ‘expensive for a reason’,” he said.

Persons: ” Sher Mehta, ” Mehta, Sohini Kar, India Ashish Vaishnav, Pieter Elbers, Narendra Modi, Joe Biden, Apple, Lorenzo La, ”, Posta, La Posta, Gautam Adani Organizations: London CNN, United Kingdom’s FTSE, CAC, Virtuoso Economics, CNN, Monetary Fund, India, London School of Economics, Airbus, ”, Apple, Momentum Global Investment Management Locations: India, United States, China, Japan, Russia, Europe, France, Refinitiv, Mumbai, Washington, Germany

☆ Police officer investigated after 17-year-old shot dead in Paris suburb
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

Summary Sporadic clashes break out between youths and policeYouth shot dead after failing to stop car for policePolice officer in question being investigatedShooting took place in Paris suburb of NanterrePARIS, June 27 (Reuters) - A French police officer is being investigated for homicide after shooting dead a 17-year-old on Tuesday morning in the Paris suburb of Nanterre after the youth failed to comply with an order to stop his car, the local prosecutor's office said. The officer fired at the boy, who subsequently died from his wounds, said the Nanterre prosecutor's office. Three people were killed by police shooting after refusing to comply with a traffic stop in 2021 and two in 2020. A Reuters tally of fatal shootings in 2021 and 2022 shows the majority of victims were Black or of Arabic origin. The driver was "known to the judicial services for having refused to comply with a traffic stop" on a previous occasion, it said.

Persons: Mercedes, Mornia Labssi, Laurent Nunez, BFM, Gerald Darmanin, Layli Foroudi, Juliette Jabkhiro, Dominique Vidalon, Sudip Kar, Conor Humphries, Alistair Bell, Sandra Maler Organizations: Police, Reuters, Mercedes AMG, National Police, Thomson Locations: Paris suburb, Nanterre PARIS, Paris, Nanterre, France

☆ Binance ordered to stop all digital currency services in Belgium
▼ + stars: | 2023-06-23 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +1 min

BRUSSELS, June 23 (Reuters) - Belgium's FSMA regulator on Friday ordered Binance to cease offering any virtual currency services in the country, adding to pressure on the world's biggest cryptocurrency exchange. "Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said. "The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium," it added in a statement. Earlier this month, Binance and Binance.US entered an agreement with the U.S. Securities and Exchange Commission to ensure U.S. customer assets remain in the United States until a sweeping lawsuit filed this month by the SEC is resolved. Reporting by Sudip Kar-Gupta; Editing by Louise Heavens and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance, Changpeng Zhao, Binance.US, Sudip Kar, Louise Heavens, Alexander Smith Organizations: European Economic, U.S . Securities, Exchange Commission, SEC, Thomson Locations: BRUSSELS, Shanghai, Belgium, United States, France

[1/6] French police secure the area as firefighters work after several buildings on fire following a gas explosion in the fifth arrondissement of Paris, France, June 21, 2023. REUTERS/Gonzalo FuentesPARIS, June 21 (Reuters) - A blast ripped through a street in the busy Latin Quarter of central Paris, causing the facade of one building to collapse, blowing out windows and starting a huge blaze. The local deputy mayor, Edouard Civel, referred to a gas explosion in a Twitter post and witnesses told BFM TV there had been a strong smell of gas moments before the blast. The blast occurred in the Rue Saint-Jacques in the 5th arrondissement of central Paris. In 2019, a gas leak caused an explosion which killed 4 people and injured 66 in the 9th arrondissement.

Persons: Gonzalo Fuentes PARIS, Edouard Civel, BFM, Khal Ilsey, Jacques, Val de Grace, Monique Mosser, Michel Rose, Sudip Kar, Tassilo Hummel, Juliette Jabkhiro, Elizabeth Pineau, Jean, Michel Belot, Angus MacSwan Organizations: REUTERS, Rue Saint, Notre, Dame, Paris, Sorbonne University, du, Thomson Locations: Paris, France, Rue, du Luxembourg

BRUSSELS, June 21 (Reuters) - European Union governments agreed on Wednesday to an 11th package of sanctions against Russia over its invasion of Ukraine, aimed at stopping other countries and companies from circumventing existing measures. The new package, tweeted by Sweden as EU president, forbids transit via Russia of an expanded list of goods and technology which might aid Russia's military or security sector. Names of such countries can be added to an annex of the EU sanctions regulation with unanimous agreement of all 27 members. The EU package extends the suspension of EU broadcasting licences of five Russian state-controlled media. Overnight, Ukraine removed the five Greek shipping firms from its list, securing the backing of Athens for the package.

Persons: Julia Payne, Sudip Kar, Gupta, Gabriela Baczynska, Jan Strupczewski, Brenda Goh, Philippa Fletcher Organizations: Union, Russia, United Arab, EU, Peace Facility, European Commission, Thomson Locations: BRUSSELS, Ukraine, Sweden, Russia, Armenia, Kazakhstan, Kyrgyzstan, United Arab Emirates, Turkey, China, Moscow, GREECE, HUNGARY, Hungary, Greece, Athens, Beijing, Hong Kong, Russian, Shanghai

☆ Gas explosion starts fire in central Paris
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

[1/6] French police secure the area as firefighters work after several buildings on fire following a gas explosion in the fifth arrondissement of Paris, France, June 21, 2023. REUTERS/Gonzalo FuentesPARIS, June 21 (Reuters) - A gas explosion started a blaze in buildings in the Latin Quarter of central Paris, officials and witnesses said. Journalist Olivier Galzi told BFM TV that he had seen the facade of a nearby building "completely collapse." Interior Minister Gerald Darmanin said the fire was locted on Rue Saint-Jacques in the 5th arrondissement close to the Jardin du Luxembourg and the Sorbonne University. Reporting by Michel Rose, Sudip Kar-Gupta, Tassilo Hummel, Juliette Jabkhiro, Elizabeth Pineau; Editing by Jean-Michel Belot and Tassilo HummelOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes PARIS, Olivier Galzi, BFM, Gerald Darmanin, Jacques, Christopher Gaglione, Michel Rose, Sudip Kar, Tassilo Hummel, Juliette Jabkhiro, Elizabeth Pineau, Jean, Michel Belot Organizations: REUTERS, Police, Rue Saint, Jardin du, Sorbonne University, Thomson Locations: Paris, France, Rue, Jardin, Jardin du Luxembourg

☆ EU countries fail to agree energy reforms after coal subsidy clash
▼ + stars: | 2023-06-19 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

EU energy ministers meeting in Luxembourg ended talks without a joint stance on the reforms that seek to avoid a repeat of last year's energy crisis, when record-high gas prices left consumers with soaring energy bills. EU countries' ambassadors will take up the negotiations, aiming for a deal this month. Asked about the coal proposal, Swedish Energy Minister Ebba Busch said ensuring Poland, which borders Ukraine, had stable power generation could help it support Ukraine with back-up power. Poland, which gets around 70% of its power from coal, could prolong its support scheme for coal plants, potentially until 2028, under the proposal. EU countries must negotiate the final power market upgrade with the EU Parliament, with the aim to pass the law before EU parliamentary elections next year.

Persons: Ebba Busch, Anna Moskwa, Robert Habeck, Kate Abnett, Tassilo Hummel, Sudip Kar, Giles Elgood, Emelia, Barbara Lewis, Marguerita Choy Organizations: Union, Swedish Energy, Reuters, European Commission, Climate, EU, Thomson Locations: Poland, Belgium, Germany, LUXEMBOURG, Luxembourg, Sweden, Ukraine, Ukrainian, Austria, Greece, Spain

☆ Renault names Luca de Meo as new head of Ampere electric vehicle unit
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 19 (Reuters) - French carmaker Renault (RENA.PA) appointed on Monday its group chief executive Luca de Meo as the future chairman and CEO of Ampere, the electric vehicle division which Renault is aiming to list on the stock market. Renault added that its board of directors had also set up an ad-hoc committee, chaired by Jean-Dominique Senard, to oversee the envisaged initial public offering (IPO) of Ampere. Reporting by Sudip Kar-Gupta; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: carmaker, Luca de Meo, Ampere, Jean, Dominique Senard, Sudip Kar, Alison Williams Organizations: carmaker Renault, Renault, Thomson

☆ RTX: Pratt & Whitney engines unit to take $500 mln free cashflow hit
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 19 (Reuters) - RTX (RTX.N) expects to take a $500 million hit to free cash flow due to a supply chain problem with the GTF engine made by its Pratt & Whitney subsidiary, the company said during an investor day on Monday. GTF deliveries that are delayed in the second quarter will be recovered in the third quarter, RTX Chief Operating Officer Chris Calio said. The issue involves a part that a supplier wrongly installed on a number of GTF engines, said Calio, who declined to name the company involved or the total number of engines affected. "We have started to turn that corner and May was probably our highest output of the year," Calio said. "Our intent is to get the fleet into a much more manageable position in the second half of the year."

Persons: Chris Calio, Calio, RTX, Pratt & Whitney, Valerie Insinna, Sudip Kar, Gupta, Mark Potter Organizations: Pratt & Whitney, Raytheon Technologies, Airbus, Pratt &, Thomson

☆ Musk: Tesla's value is based primarily on vehicle autonomy
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

Companies Tesla Inc FollowPARIS, June 16 (Reuters) - Tesla's (TSLA.O) market value is essentially based on vehicle 'autonomy', said Tesla CEO Elon Musk on Friday, and Musk added that he "did not expect that Tesla would be at this level" regarding the company's stock market value. "The value of the company is primarily on the basis of autonomy," Musk told the Paris VivaTech event. "That's really, I think, the main driver of our value." Tesla says that what it calls “Full Self-Driving” software does not make its vehicle autonomous and requires driver supervision. "Although I've said this before, I think we will solve autonomy soon," the billionaire said at the event.

Persons: Elon Musk, Musk, Tesla, I've, Sudip Kar, Gupta, Mathieu Rosemain, Gilles Guillaume, Hyunjoo Jin, Alistair Bell Organizations: Tesla, Paris, Thomson

☆ Airbus reveals jet orders and says the supply chain is more stable
▼ + stars: | 2023-06-16 | by ( Tim Hepher | ) www.reuters.com time to read: +1 min

PARIS, June 16 (Reuters) - Airbus (AIR.PA) has signed orders this month including 60 A320-family jets with a lessor and 10 A350s with a major airline, said the planemaker's Chief Commercial Officer Christian Scherer. The deals come on top of any business to be announced at next week's Paris Airshow and will be booked at end-June, though the buyers will not disclosed, he also told reporters. He said next week's event would bring evidence of a strong recovery in terms of demand. Earlier on Friday, Airbus CEO Guillaume Faury had said that supply chains had stabilised although the industry still faced pressing labour shortages. Reporting by Tim Hepher; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Christian Scherer, Scherer, Guillaume Faury, Tim Hepher, Sudip Kar Organizations: Airbus, Boeing, Gupta, Thomson

☆ Elon Musk repeats call for artificial intelligence regulation
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 16 (Reuters) - Billionaire Elon Musk, CEO of Tesla (TSLA.O) and owner of Twitter, reaffirmed on Friday his view that there should be a 'pause' on the development of artificial intelligence (AI) and that the AI sector needed regulation. "There is a real danger for digital superintelligence having negative consequences," said Musk, at the Paris VivaTech event. "I am in favour of AI regulation," he added. Reporting by Silvia Aloisi, Gilles Guillaume, Mathieu Rosemain, Sudip Kar-Gupta, Michel Rose; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Billionaire Elon Musk, Silvia Aloisi, Gilles Guillaume, Mathieu Rosemain, Sudip Kar, Gupta, Michel Rose, Louise Heavens Organizations: Billionaire, Tesla, Twitter, Paris, Thomson

The group will study this expression of interest and keep the market informed," Casino said in a statement on Wednesday. And the holding company through which Naouri controls Casino is also heavily indebted. Niel, Pigasse and Zouari said they would invest 200 million to 300 million euros themselves, with the rest coming from unspecified partners, including Casino creditors. The trio's proposal comes after Kretinsky, Casino's second-largest shareholder, offered in April to take control of the group through a 1.1 billion euro capital increase. A Casino spokesperson declined to comment beyond its statement on Wednesday or on behalf of Naouri.

Persons: Jean, Charles Naouri, Xavier Niel, Daniel Kretinsky, Casino, Kretinsky, Niel, Matthieu Pigasse, Moez, Alexandre Zouari, Clement Genelot, Garnier, Pigasse, Zouari, Casino's, Mathieu Rosemain, Chiara Elisei, Laura Lenkiewicz, Sudip Kar, Silvia Aloisi, Mark Potter, Alexander Smith Organizations: Casino, Monoprix, BNP, Credit Agricole, Carrefour, Reuters, France's, Naouri, Thomson Locations: PARIS, Czech, Natixis, Casino

☆ Google faces EU break-up order over anti-competitive adtech practices
▼ + stars: | 2023-06-14 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, U.S., November 17, 2021. Its 2022 advertising revenue, including from search services, Gmail, Google Play, Google Maps, YouTube adverts, Google Ad Manager, AdMob and AdSense, amounted to $224.5 billion. EU antitrust chief Margrethe Vestager said Google may have to sell part of its adtech business because a behavioural remedy is unlikely to be effective at stopping the anti-competitive practices. The Commission said it took issue with Google favouring its own online display advertising technology services to the detriment of competing providers of advertising technology services, advertisers and online publishers. Google is the world's dominant digital advertising platform with a 28% market share of global ad revenue, according to research firm Insider Intelligence.

Persons: Andrew Kelly, Margrethe Vestager, Foo Yun Chee, Sudip Kar, Philip Blenkinsop, Gupta, Kirsten Donovan Organizations: Google LLC, Google, Chelsea, REUTERS, Gmail, European, EU, The, AdX, Intelligence, Reuters, Thomson Locations: Manhattan , New York City, U.S, BRUSSELS, AdSense, United States

☆ France's Mistral AI raises 105 mln euros shortly after being set up
▼ + stars: | 2023-06-13 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +2 min

The fund-raising highlights the rapid growth of the artificial intelligence (AI) sector as well as Europe's desire to create rivals to Silicon Valley companies such as Microsoft-backed (MSFT.O) OpenAI and Google's (GOOGL.O) DeepMind. Paris-based Mistral AI was set up by former Meta (META.O) and Google artificial intelligence researchers Timothee Lacroix, Guillaume Lample and Arthur Mensch. Mistral AI's fund-raising was led by international venture capital fund Lightspeed Venture Partners. Former Google CEO Eric Schmidt is also a shareholder in Mistral AI. "Bravo to the start-up Mistral AI which has raised 105 million euros just a month after its creation: a record!"

Persons: Schmidt, Xavier Niel, Rodolphe Saade, Timothee Lacroix, Guillaume Lample, Arthur Mensch, Mensch, Mistral, Eric Schmidt, Jean, Noel Barrot, Bravo, Sudip Kar, David Evans, Leslie Adler Organizations: Lightspeed Venture Partners, Microsoft, Meta, JCDecaux, Italy's Exor Ventures, Mistral, Paris, Twitter, Thomson Locations: PARIS, Silicon, DeepMind, Paris, France, Europe, New York , California, London

☆ EU antitrust regulators approve Vivendi, Lagardere deal
▼ + stars: | 2023-06-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 9 (Reuters) - Vivendi (VIV.PA), the French media conglomerate controlled by billionaire Vincent Bollore, on Friday won conditional EU antitrust approval for its acquisition of France's largest publisher Lagardere (LAGA.PA). Vivendi last year announced the deal which would give it control of Lagardere's flagship weekly publications Journal du Dimanche (JDD) and Paris Match. Vivendi said in a statement that it was confident it would finalise those two transactions by the end of October. "The remedies proposed by Vivendi will allow for the preservation of existing competition in those markets, to the benefit of consumers." Reuters reported in April that the remedies were sufficient to help Vivendi gain EU antitrust clearance for the acquisition.

Persons: Vincent Bollore, Margrethe Vestager, Daniel Kretinsky, Yannick Bollore, Foo Yun Chee, Bart Meijer, Sudip Kar, Gupta, Louise Organizations: Vivendi, Paris Match, European Commission, Reuters, Le Monde, TF1, Thomson Locations: BRUSSELS, EU, Czech, Le

PARIS, June 7 (Reuters) - Atos (ATOS.PA), the struggling French IT consulting firm planning to split into two listed entities, said it expected sales at loss-making unit Tech Foundations to hit bottom in 2024. That will see it separate Tech Foundations from Eviden, which groups Atos' most coveted assets such as cybersecurity division BDS and supercomputers. Co-CEO Nourdine Bihmane said on a call with reporters that the split-up plan was "on the verge to be completed in the main countries". He also said plans to sell 700 million euros of assets, deemed crucial to finance the company's turnaround plan, were "almost completed". About 20% of that 1.2 billion-euro turnaround plan, which entails laying off about 7,500 people, has been achieved, he said.

Persons: Atos, Nourdine Bihmane, Mathieu Rosemain, Sudip Kar, Gupta, Mark Potter Organizations: Tech, Eviden, Thomson

☆ STMicroelectronics and Sanan plan silicon carbide venture in China
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 7 (Reuters) - Semiconductor supplier STMicroelectronics (STMPA.PA) and Sanan Optoelectronics (600703.SS) plan to set up a silicon carbide manufacturing joint venture in Chongqing, China, they said on Wednesday. The companies said the cost of the venture was expected to be about $3.2 billion, including capital expenditure of about $2.4 billion over the next five years. The venture will produce silicon carbide devices exclusively for STMicroelectronics which are used in electric cars and other industrial power and energy applications. "China is moving fast towards electrification in automotive and industrial and this is a market where ST is already well-established with many engaged customer programs. Reporting by Sudip Kar-Gupta; editing by David Goodman and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanan, Jean, Marc Chery, Sudip Kar, David Goodman, Jason Neely Organizations: Semiconductor, Thomson Locations: Chongqing, China

☆ Molecular fossils open window on 'lost world' of primordial life
▼ + stars: | 2023-06-07 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

The researchers discovered that the molecular fossils indicating the presence of these primitive eukaryotes were commonplace in rocks spanning from about 1.6 billion years ago to 800 million years ago. "It is a lost world in the sense that we had not been able to see or detect them - although there was an entire world of them. It is a lost world also because these forms are now entirely extinct, Brocks added. The oldest of the rocks bearing these fossils were unearthed in the remote Outback of northern Australia, near Darwin. Scientists long were puzzled about the seeming absence of molecular fossils from this time span indicative of primitive eukaryotes.

Persons: Jochen Brocks, geobiologist Jochen Brocks, Benjamin Nettersheim, Brocks, sapiens, Konrad Block, Will Dunham, Rosalba O'Brien Organizations: Australian National University, Handout, REUTERS, University of Bremen, Thomson Locations: Creek, Northern Australia, REUTERS WASHINGTON, Canberra, Germany, Australia, Darwin

PARIS, June 5 (Reuters) - France said on Monday it will provide 2.9 billion euros ($3.10 billion) in state aid to help support an investment of 7.5 billion euros that chipmakers STMicroelectronics and GlobalFoundries (GFS.O) are making to build a semiconductor factory in Crolles, southeastern France. The 2.9 billion euros are part of the 5.5 billion euros package France has set aside for its investments in the microchip sector by 2030, he added. On April 28, STMicroelectronics and GlobalFoundries secured EU approval to build the Crolles chip factory with French state aid. France overall aims to create 10,000 new jobs in the semiconductor sector by 2030. ($1 = 0.9352 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta; Editing by Benoit Van OverstraetenOur Standards: The Thomson Reuters Trust Principles.

Persons: Bruno Le Maire, GlobalFoundries, Dominique Vidalon, Sudip Kar, Benoit Van Overstraeten Organizations: Finance, European Union, EU, America, Thomson Locations: France, Crolles, United States, U.S

☆ Morgan Stanley sees ECB ending its rate hike cycle in July at 3.75%
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 5 (Reuters) - U.S. investment bank Morgan Stanley (MS.N) said on Monday that it expected the European Central Bank (ECB) to end its interest-rate hiking cycle in July at 3.75%. "We see the ECB ending its hiking cycle in July at 3.75%. Fiscal policy remains supportive," it wrote in a research note. Reporting by Sudip Kar-Gupta; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, MS.N, Sudip Kar, Edmund Klamann Organizations: European Central Bank, Thomson

☆ EU telecoms regulators' group criticises forcing Big Tech to pay 5G rollout
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, May 19 (Reuters) - The EU telecoms regulators' group BEREC on Friday criticised a push by telecoms providers to get Big Tech to help pay for the rollout of 5G and broadband in Europe, saying it doubted whether such a move would help the bloc meet its connectivity targets. The Body of European Regulators for Electronic Communications (BEREC) said a mandatory financial fee may lead to higher costs for consumers and impact Europe's net neutrality rules. The comments were part of BEREC's feedback - submitted on Friday - to the European Commission which is looking into the issue. Reporting by Foo Yun Chee; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Broadcom offers VMware interoperability remedies to address EU concerns
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, May 17 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware (VMW.N) bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a decision to July 17. Broadcom may restrict competition in some hardware components which interoperate with VMware's virtualisation software, the Commission warned the company last month as it laid out its concerns. "While we maintain that this deal does not present any competition issues, we have made a proposal to address fully the concerns expressed by the European Commission," said Broadcom.

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