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☆ Cavendish bananas face extinction and not all experts agree on how to save it
▼ + stars: | 2023-10-22 | by ( Rupendra Brahambhatt | ) www.businessinsider.com time to read: +8 min

Cavendish, the most commonly available banana variety, is facing the risk of extinction. A fungal disease threatens to wipe Cavendish bananas off the face of the Earth. Why Cavendish bananas dominate the global marketThere are over 1,000 varieties of bananas, but about 47% that humans eat are Cavendish bananas (Musa acuminata). Fajri Ramadhan / 500px / Getty ImagesPanama disease is a serial banana killerWhat's happening to Cavendish bananas has happened before to another popular banana variety called Gros Michel. How scientists are trying to save the CavendishSome plant pathologists don't believe that the Cavendish banana will meet the same fate as Gros Michel.

Persons: Cavendish, —, Dan Koeppel, Fajri, Gros, Gros Michel, James Dale, Robert Nickelsberg, Dale, Koeppel, COZZI, Price Organizations: Service, Queensland University of Technology, TR4, Gros, University of Cambridge, Taiwan Banana Research Institute, Apple, Cavendish Locations: Cavendish, Musa, Panama, Darwin, Australia, Queensland, India, China, East, Africa, South America, QCAV, freezers

☆ Russia makes up 40% of Indian oil imports, dents OPEC's share
▼ + stars: | 2023-10-20 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

Russia was the top oil supplier to India in April to September, followed by Iraq and Saudi Arabia. India's imports from Iraq and Saudi Arabia fell by 12% and about 23% to 928,000 bpd and 607,500 bpd, respectively, during the April-September period, the data showed. Imports from the Middle East in April-September declined by about 28% to 1.97 million bpd, dragging down the region's share in India's overall oil imports to 44% from 60% during the same year-ago period. India's oil imports from various regionsLower purchases from the Middle East dragged down the share of OPEC in India's overall imports to the lowest in 22 years. India's oil imports Opec's share of India's oil imports drop to record lowReporting by Nidhi Verma; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nidhi Verma, Miral Organizations: Saudi, Imports, Commonwealth of Independent States, CIS, Organization of, Petroleum, Thomson Locations: DELHI, India, Moscow, Ukraine, Middle, Russia, Iraq, Saudi Arabia, Azerbaijan, Kazakhstan, East, Africa

Almost 9 million subscribers joined Netflix around the globe in the third quarter, surpassing Wall Street analysts' forecast for 6 million, according to LSEG. The strong performance showed Netflix was thriving despite Hollywood labor tensions that shut down a large swath of U.S. production. Netflix increased the U.S. price of its premium ad-free plan by $3 per month to $22.99. Substantial subscriber gains came in Europe, the Middle East and Africa, where Netflix added nearly 4 million subscribers. Netflix programming accounted for 8% of television screen time, second only to YouTube, the company said, citing Nielsen data.

Persons: Ted Sarandos, Sarandos, Paolo Pescatore, Mike Blake, Prince Harry's, Meghan Markle, Lisa Richwine, Aurora Ellis, Bill Berkrot, Leslie Adler Organizations: Netflix, Wall Street, Comcast, Brothers, Investors, REUTERS, USA, YouTube, Nielsen, Thomson Locations: United States, Britain, France, Los Angeles , California, U.S, Europe, East, Africa

☆ China Ready to Liaise With Russia on Mid-East Crisis - Chinese State Media
▼ + stars: | 2023-10-19 | by ( Oct. | At P.M. | ) www.usnews.com time to read: 1 min

BEIJING (Reuters) - China is ready to maintain communication and coordination with Russia to cool down the Israel-Palestinian crisis, its Middle East special envoy said after meeting with his Russian counterpart this week, Chinese state media reported. China and Russia share the same position on the Palestinian issue, Zhai Jun said after meeting with Russia's special representative for Middle East and African countries in Doha, Qatar on Thursday. He said China is saddened by the humanitarian crisis, and is ready to play a "positive role in the resumption of Palestinian-Israeli peace talks", as well as the "genuine implementation" of the two-state solution, state media said. (Reporting by Liz Lee and Shanghai newsroom; Editing by Muralikumar Anantharaman)

Persons: Zhai Jun, Liz Lee, Muralikumar Anantharaman Organizations: Middle Locations: BEIJING, China, Russia, Israel, Middle East, Doha, Qatar, Shanghai

☆ EU migration ministers address militant Islamist attacks, risks from Israel-Hamas war
▼ + stars: | 2023-10-19 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

A teacher was slain in northern France last week in an attack President Emmanuel Macron condemned as "Islamist terrorism". The killings occurred at a time of heightened security concerns across much of Europe linked to the Israel-Hamas war. The attack in Brussels underlined persistent failings of the EU's troubled migration and asylum systems, including security gaps and ineffective returns. The EU, a bloc of 450 million people, has recorded some 250,000 irregular arrivals this year, in large part aided by smugglers. Last year, the EU took in several million refugees for Russia's war in the neighbouring Ukraine.

Persons: Darrin, Morocco Broad, Emmanuel Macron, Israel, Gabriela Baczynska, Philippa Fletcher Organizations: Geo, Medecins Sans Frontieres, REUTERS, France Ministers, Palestinian, EU, Thomson Locations: Italy, Libya, Belgium, France, Israel, Egypt, Morocco, BRUSSELS, Europe, Brussels, EU, Gaza, Afghanistan, Syria, Tunisia, Tunis, Ukraine, East, Africa

He lost his case in October 2020 and, the following March, was issued an order to leave Belgium. With at least three EU countries involved, the case points up the challenges the EU faces tracking people across the bloc's Schengen open-travel zone that is mostly free of border checks. Proponents of the EU's new migration pact - which has been tentatively agreed by most EU countries and is now being further negotiated with the European Parliament - say it would support returns by shortening time for migration and asylum procedures. "Those who are not allowed to stay in the EU must leave Europe. "This is a wake-up call for those who are not ready to accept ... the migration pact."

Persons: Alexander de Croo, Vincent Van Quickenborne, Manfred Weber, Marine Strauss, Bart Meijer, Angelo Amante, Gabriela Baczynska, Mark Heinrich Our Organizations: Belgium Case, EU, Immigration, Belgian, Frontex, Eurostat, Reuters, European People's Party, Thomson Locations: Italy, Sweden, Belgium, BRUSSELS, ROME, Tunisia, Europe, Israel, Germany, Brussels, Tunis, ITALY, SWEDEN, BELGIUM, Lampedusa, Poland, Hungary, East, Africa, Rome

☆ Migrant’s drowning in Mediterranean prompts criticism of Malta's rescue policies
▼ + stars: | 2023-10-17 | by ( Reade Levinson | ) www.reuters.com time to read: +13 min

Details of the incident, described to Reuters by humanitarian groups MSF, Sea-Watch and Alarm Phone, haven’t previously been reported. By the next morning, June 23, survivors told MSF, they had run out of food and water. [1/5]Handout image obtained by Reuters, October 12, 2023 shows a Medicins Sans Frontiers (MSF) rescue boat near a rubber boat carrying migrants from the Middle East and Africa, in the Mediterranean Sea, June 24, 2023. At 12:46 p.m., Alarm Phone called the Malta Search and Rescue Coordination Centre to report that one person was in the water. The passengers told the men they were scared and didn’t want to remain on the boat, survivors told MSF.

Persons: Africa –, ’, Ainhoa Campàs Velasco, Sabrina Borg, “, ”, Tommaso Foti, Foti, Oliver Kulikowski, Neil Azzopardi Ferriggi, Skye McKee, Handout, Kulikowski, Byron Camilleri, Camilleri, Jean, Pierre Gauci, Reade Levinson, Janet Roberts Organizations: Reuters, Sea, MSF, Geo, University of Southampton, “, EU, REUTERS Acquire, Passengers, Coordination, Watch, Reuters ., Maltese, Armed Forces of, Armed Forces, -, United Nations, Refugees, Amnesty International, European, of Human Rights, Home Affairs, European Union, British Institute of International, Comparative, La Spezia, Thomson Locations: East, Africa, Malta, Maltese, Italy, Europe, Italian, “ Malta, Sirte, Libya, Syria, South Sudan, Sea, Armed Forces of Malta, Malta's, Laconia, Gabon, ”, London

☆ Global smartphone market slumps to lowest Q3 level in decade - Counterpoint
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsOct 16 (Reuters) - The global smartphone market contracted by 8% to its lowest third-quarter level in a decade on subdued demand for major brands including Apple (AAPL.O) and Samsung (005930.KS) in most developed markets, according to data from Counterpoint Research. Market leader Samsung posted a 13% drop in sell-through volumes in the period. It said the festive season in India, the 11.11 sale event in China and end-of-year promotions across regions would also support the market. So far, emerging markets have been a bright spot for smartphone sales in an otherwise dour year. In the third quarter, the Middle East and Africa were the only regions to record year-on-year growth, according to Counterpoint data.

Persons: Shannon Stapleton, Samsung, Akash Sriram, Juby Babu, Aditya Soni, Pooja Desai Organizations: REUTERS, Apple, Samsung, Counterpoint Research, Reuters, HK, Huawei, Thomson Locations: Midtown, New York City, U.S, United States, Europe, Korea, India, China, East, Africa, Bengaluru

☆ Ferrari to accept crypto as payment for its cars in the US
▼ + stars: | 2023-10-14 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +4 min

Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla (TSLA.O), which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.

Persons: Benedetto Vigna, Flavio Lo Scalzo, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Ferrari, Galliera, Bitpay, Giulio Piovaccari, Tom Wilson, Louise Heavens Organizations: Ferrari, REUTERS, Reuters, Thomson Locations: Maranello, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, East, Africa, China, Milan, London

☆ Ferrari to accept crypto as payment for its cars in the U.S.
▼ + stars: | 2023-10-14 | by ( ) www.cnbc.com time to read: +3 min

Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla , which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.

Persons: Manuel Romano, Ferrari, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Galliera Organizations: Ferrari, Auto, Getty, Reuters Locations: Padova, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, Italian, East, Africa, China

☆ 'We know they're waiting for us': Gaza's tunnels pose deadly challenge for Israeli troops
▼ + stars: | 2023-10-12 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +1 min

An Israeli army officer walks on July 25, 2014 during an army-organised tour in a tunnel said to be used by Palestinian militants from the Gaza Strip for cross-border attacks. Israel launched its military offensive aiming at destroying tunnels used by Gaza militants. Israeli troops are massing on the border of Gaza following Saturday's surprise attack inside of Israel, but their orders are still unclear. What is clear, however – according to Israeli troops who've fought inside Gaza before – any invasion is going to be difficult, dangerous and bloody. Officials expect the tunnels and ground throughout the area to be booby-trapped with explosives.

Persons: who've, Harel Chorev, Moshe Dayan Organizations: Palestinian, Gaza, Tel, Moshe, Moshe Dayan Center for Middle, Studies Locations: Gaza, Israel, Upper Gaza, Palestinian, Tel Aviv, Moshe Dayan Center for Middle East

☆ How 1880s technology made it possible for 2 women to travel around the world in under 80 days
▼ + stars: | 2023-10-07 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +19 min

In 1889, journalist Nellie Bly set off on a trip around the world, trying to make it under 80 days. "You see a huge emphasis being placed on building ships that were ever faster than the previous generation of ships," Goodman said. Once aboard the train, Bly began to receive telegrams from her editors and well-wishers. "Sometimes it literally literally just says, 'Nelly Bly's train,'" Behn said. For Behn, what Bly and Bisland did remains incredible and deserve to be remembered as much as Verne's story.

Persons: Nellie Bly, Elizabeth Bisland, —, Jules Verne's, Bly, Bisland, Adrien Behn, Matthew Goodman, Elizabeth Bisland's, Victoria, Augusta Victoria, Henry Guttmann, seasickness, Behn, San Francisco —, Bettmann, Goodman, John Mix Stanley, Said, Getty Images Bly, they'd, Alfred Touchemolin's, voyaged, She'd, James Buchanan, Joseph Pulitzer's, Nelly Bly's, Jules Verne, Thomas Cook, Fogg, Nelly, she'd Organizations: Service, Cosmopolitan, Atlantic, Hulton, Western, Central Pacific, Union Pacific, Union Pacific's Overland, Rockies, Railroad, US, Ships, Suez, Getty Images, Workers, SSPL, Headquarters, Thomas Cook &, Companies Locations: London, New Jersey, New York, California, Blackwell's, of, New York Harbor, Chicago, Omaha, Utah, San, Salt, Union, Iowa, San Francisco, Midwest, Between Nebraska, Sacramento , California, Sierra Nevada, Lake Jessie , North Dakota, Washington ,, Philadelphia, Suez, Europe, Asia, Africa, Britain, India, Port Said, Egypt, Yemen, commonwealths, British, Aden, Colombo, Penang, Hong Kong, Singapore, Ceylon, Yokohama, France, Germany, America, South China, Nevada, Russian Empire, East, North America, London's, Italy, Ireland, United States, Japan, China

That was until this week, when the company decided to pull its listing in the final hours of Wednesday, blaming market conditions. In the coming weeks, a string of European companies are slated to come to market. Among them is CVC Capital Partners, which is still planning a November listing depending on market conditions, a person with knowledge of the matter told Reuters. However, the fate of Renk highlights the challenges facing new issuers, exacerbated by a recent bout of volatility in equity and debt markets. On Thursday it was trading around its opening IPO price at 30 euros, still above its issue price, a positive sign.

Persons: Andreas Bernstorff, Germany's DAX, Susanne Wiegand, Schott, Perfumery, Douglas, Emma, Victoria Farr, Pablo Mayo Cerqueiro, Alexander Huebner, Anousha Sakoui Organizations: Capital Partners, Reuters, Equity Capital Markets, BNP, Renk, Rheinmetall, Schott Pharma, DKV, CVC Capital Partners, Paris bourse, Thomson Locations: FRANKFURT, LONDON, Frankfurt, U.S, Europe, East, Africa, European, Germany, York, Lincoln

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

☆ EU Looks to the Future at Summit on Migration and Enlargement
▼ + stars: | 2023-10-06 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +3 min

Other central and eastern EU countries have also put up border controls inside what is normally a zone of open travel, citing the need to crack down on people smugglers and migrants who avoid regular border crossings and arrival procedures. But the matter is politically sensitive and anti-immigrant rhetoric and policies are on the rise in some EU countries ahead of continent-wide European Parliament elections next June. From economic aid transfers to decision-making to maintaining cohesion, EU leaders will look on Friday at what needs to change inside their union to allow for another enlargement. Such debates highlight a tough dilemma the EU faces in trying to bring in new members while deepening existing integration. "Enlargement is a geo-strategic investment in peace, security, stability and prosperity ... both the EU and future member states need to be ready."

Persons: Gabriela Baczynska GRANADA, Gabriela Baczynska, Rosalba O'Brien Organizations: GEO, Reuters, EU, Kyiv, European Union Locations: Spain, Ukraine, Italy, Germany, Europe, Bavaria, Poland, East, Africa, Russia's, Grenada, China, Moldova, Western Balkans, Britain, Kyiv, Warsaw, Hungary

☆ EU looks to the future at summit on migration and enlargement
▼ + stars: | 2023-10-06 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

Persons: Spain's King Felipe VI, Queen Letizia, Jon Nazca, Gabriela Baczynska, Rosalba O'Brien Organizations: Lions, Alhambra, Political Community Summit, REUTERS, Rights, GEO, Reuters, EU, Kyiv, European Union, Thomson Locations: Granada, Spain, Rights GRANADA, Ukraine, Italy, Germany, Europe, Bavaria, Poland, East, Africa, Russia's, Grenada, China, Moldova, Western Balkans, Britain, Kyiv, Warsaw, Hungary

Not only in the EU but in all of Europe," Zelenskiy said on his arrival, warning of Russian "disinformation attacks". "It does worry me," Biden said on Wednesday, though he added that a majority of U.S. lawmakers continued to support funding Ukraine. In Slovakia, former prime minister Robert Fico's party came first in a parliamentary election on pledges of halting military aid to Ukraine, while Polish Prime Minister Mateusz Morawiecki has said Warsaw was no longer arming Ukraine. German Chancellor Olaf Scholz said on Wednesday he was "very confident" that U.S. support for Ukraine would continue. Many EU leaders have condemned the Azerbaijani operation, which triggered an exodus of more than 100,000 ethnic Armenians.

Persons: Zelenskiy, Spain Zelenskiy, Volodymyr Zelenskiy, Joe Biden, U.N, Emmanuel Macron, Olaf Scholz, Rishi Sunak, Democrat Biden, Biden, Ursula von der Leyen, Robert Fico's, Mateusz Morawiecki, Pedro Sanchez, Ilham Aliyev, Belen Carreno, Andreas Rinke, Anna Pruchnicka, Gareth Jones Organizations: Political, EU, British, U.S, Republican, Democrat, European Commission, Kyiv, Polish, European Union, NATO, Spanish, Thomson Locations: Spain, Europe, Balkans, Caucasus, Granada, GRANADA, Kyiv, Spanish, Ukraine, Norway, Albania, Russia, Poland, Brussels, U.S, Slovakia, Warsaw, EU, East, Africa, Azerbaijan, Armenia, Serbia, Kosovo, Nagorno, Karabakh, Baku, Berlin

☆ EU States Try to Seal Migration Deal
▼ + stars: | 2023-10-04 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

BRUSSELS (Reuters) - Envoys of the European Union's 27 member states were meeting in Brussels on Wednesday hoping to overcome a latest spat between Rome and Berlin over charity ships to finalise an agreement on sharing out the task of caring for refugees and migrants. Envoys were meeting at 0730 GMT on an amended text of the tentative agreement proposed by Spain, which chairs EU talks until the end of the year, sources said. The meeting is the last chance to seal a deal before the bloc's 27 national leaders meet in Spain's Granada on Thursday and Friday, where they are due to discuss irregular migration amid increased arrivals across the Mediterranean, including to the Italian island of Lampedusa. A dispute over NGOs picking up people in the sea prevented an deal among the EU's migration ministers last week but the bloc is still keen to get it done ahead of key elections in Germany, Poland and a pan-European parliamentary vote in 2024. (Reporting by Gabriela Baczynska; editing by Bart Meijer)

Persons: Gabriela Baczynska, Bart Meijer Locations: BRUSSELS, Brussels, Rome, Berlin, Spain, Granada, Lampedusa, Germany, Poland, Hungary, East, Africa

☆ EU states try to seal migration deal
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Migrants arrive on an Italian Coast Guard vessel after being rescued at sea, near the Sicilian island of Lampedusa, Italy, September 18, 2023. Envoys were meeting at 0730 GMT on an amended text of the tentative agreement proposed by Spain, which chairs EU talks until the end of the year, sources said. The meeting is the last chance to seal a deal before the bloc's 27 national leaders meet in Spain's Granada on Thursday and Friday, where they are due to discuss irregular migration amid increased arrivals across the Mediterranean, including to the Italian island of Lampedusa. A dispute over NGOs picking up people in the sea prevented an deal among the EU's migration ministers last week but the bloc is still keen to get it done ahead of key elections in Germany, Poland and a pan-European parliamentary vote in 2024. Reporting by Gabriela Baczynska; editing by Bart MeijerOur Standards: The Thomson Reuters Trust Principles.

Persons: Yara, Gabriela Baczynska, Bart Meijer Organizations: Italian Coast Guard, REUTERS, Rights, Thomson Locations: Lampedusa, Italy, Rights BRUSSELS, Brussels, Rome, Berlin, Spain, Granada, Germany, Poland, Hungary, East, Africa

"We're definitely seeing a bit of a soft open in the IPO market", said Lizzie Reed, global head of the ECM syndicate desk at Goldman Sachs. Arm and Instacart shares briefly fell below their issue price, suggesting there is still some way before the IPO market fully recovers. Medical glass producer Schott Pharma (1SXP.F) debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. Klaviyo's shares are now trading at a 21% premium to their IPO price. "For the IPO market to open more broadly in the first quarter in 2024 ... we need the 2023 IPO cohort to continue to perform well," said Josh Weismer, head of U.S. ECM, Mizuho Americas.

Persons: Lizzie Reed, Goldman Sachs, IPOs, Robert Stowe ,, Suneel Hargunani, Schott, ThyssenKrupp, Hidrolectrica, Ross Devor, ”, Samir A, Gandhi, Stephane Gruffat, SoftBank, Josh Weismer, Echo Wang, Pablo Mayo, Anousha Sakoui, David Holmes Organizations: Bankers, ECM, Arm Holdings, Barclays, Citigroup, Schott Pharma, Frankfurt Stock Exchange, Thoma Bravo, Deutsche Bank, Nvidia, Apple, Qatar Investment Authority, U.S, Mizuho, Pablo Mayo Cerqueiro, Thomson Locations: United States, Europe, British, New York, U.S, IPOs, East, Africa, Romanian, Qatar, Mizuho Americas, London

☆ Coty prices global shares at $10.80 ahead of Paris listing
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 28 (Reuters) - Coty (COTY.N) said it would price its global offering of 33 million shares at $10.80 per share, and the stock is expected to start trading on the Paris Stock Exchange at 9.30 a.m. Eastern Time on Thursday. The CoverGirl cosmetics maker, which said in May that it would explore a dual listing in Paris, launched its global offering on Sept. 25. The company's U.S.-listed shares have fallen about 7% since the launch, but were up marginally in premarket trade on Thursday. Reporting by Juveria Tabassum; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Coty, Hugo Boss, Burberry, Juveria Tabassum, Varun Organizations: Coty Inc, REUTERS, Coty, Paris Stock Exchange, Thomson Locations: Manhattan , New York City, U.S, Paris, Europe, Middle East, Africa

☆ Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
▼ + stars: | 2023-09-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG. For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year. During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.

Persons: Matthew Friend, They're, John Donahoe, he's, Friend, Jefferies, doesn't bode, It's Organizations: Nike, LSEG, Revenue, Investors, Reuters, Asia Pacific, Converse, Sporting Goods, Footlocker Locations: China, North America, Europe, East, Africa, America, Asia

☆ The US Air Force is using satellites and dirt runways to prepare its drones for a different kind of war
▼ + stars: | 2023-09-25 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

The war in Ukraine has highlighted how hard air operations are in a large conventional conflict. The US Air Force is already training to keep its drones flying by spreading out and using new tech. In response to that challenge, the Air Force is training to disperse its forces and make targeting harder for enemies. For the US Air Force, fighter pilots have long been that dominant influence. Of 22 Air Force chiefs of staff, the service's highest-ranking uniformed officer, 17 have come from the fighter/attack communities.

Persons: —, Phil Speck, Doniell, Antonio Salfran, Christa Anderson, Stavros Atlamazoglou Organizations: US Air Force, Service, US Air National Guard, Air Force, Cannon Air Force Base, Holloman Air Force Base, Combat Employment, Andersen Air Force Base, Pentagon, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins School, International Studies, Boston College Law School Locations: Ukraine, China, Russia, Wyoming, New Mexico, Europe, Guam, East, Africa

☆ Supermarket franchisee Spinneys Dubai plans IPO in 2024
▼ + stars: | 2023-09-24 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

A woman looks at products as she buys food supplies at a supermarket, as Muslims prepare for the fasting month of Ramadan in Dubai July 8, 2013. Albwardy Investment, the franchise's 100% owner, hired Rothschild & Co to advise on the planned IPO, the sources said, requesting anonymity as the plans are not public. The potential IPO of Spinneys Dubai, planned on the Dubai Financial Market, would add to the small but growing regional food retail sector. Spinneys Dubai operates more than 65 stores across the UAE, its website says. Albwardy, which says it has annual turnover above $1 billion, also owns the franchise rights to upmarket British supermarket chain Waitrose.

Persons: El, Rothschild, Moelis, Yousef Saba, Barbara Lewis Organizations: REUTERS, Spinneys, United Arab, Albwardy Investment, Co, Dubai Financial, Americana, North, KFC, Lulu, Reuters, UAE, Spinneys Dubai, Waitrose, Nestle UAE, Thomson Locations: Dubai, Spinneys Dubai, United Arab Emirates, Oman, Albwardy, East, North Africa, Abu Dhabi, Riyadh, Saudi Arabia, Europe, Middle East, Africa

☆ Goodyear Tire to cut 700 jobs, sell retail stores in Asia Pacific
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

The Goodyear logo is seen at a tire workshop in Caracas, Venezuela December 10, 2018. REUTERS/Manaure Quintero/File Photo Acquire Licensing RightsSept 22 (Reuters) - Goodyear Tire & Rubber (GT.O) said on Friday it plans to cut 700 jobs and sell about 100 retail stores and fleet locations, under a rationalization plan for its Asia Pacific segment. Goodyear would also exit nine warehouse locations, a regulatory filing showed. The pre-tax charges are estimated between $55 million and $65 million. Goodyear, in August, swung to a loss of 73 cents per share for the second quarter, from a profit of 58 cents per share a year earlier.

Persons: Manaure Quintero, Kannaki, Shweta Agarwal Organizations: Goodyear, REUTERS, Goodyear Tire &, Thomson Locations: Caracas, Venezuela, Asia, Australia, New Zealand, Europe, East, Africa, Ohio, Bengaluru

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