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They have since sought to seize Malaysian government assets in France, Luxembourg and the Netherlands, in a bid to enforce the award. In September, the heirs sought permission from a Dutch court to enforce the award in the Netherlands, Reuters reported. Lawyer Paul Cohen, acting for the Sulu heirs, said they were disappointed with the court decision. The heirs say they were not involved in the incursion and sought arbitration over the suspension of payments. This month, a Paris court upheld the Malaysian government's challenge against enforcing a partial award to the heirs.

Persons: Anwar Ibrahim, Anwar, Lawyer Paul Cohen, Sulu, Stephanie van den Berg, Rozanna, Robert Birsel, Clarence Fernandez, Mark Potter Organizations: THE HAGUE, Malaysian, Malaysia, Reuters, Borneo . Independent Malaysia, Thomson Locations: KUALA LUMPUR, Malaysia, Paris, Sulu, France, Luxembourg, Netherlands, Philippines, Borneo ., Kuala Lumpur

☆ North Korea says U.S. has 'sinister intention' in rejoining UNESCO
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 27 (Reuters) - North Korea criticised on Tuesday the U.S. plan to rejoin the U.N. cultural agency UNESCO as a "sinister" move to use an international organisation for the purpose of "realizing the strategy for hegemony". The Paris-based U.N. agency announced this month the United States intended to rejoin in July, calling it an "act of confidence in UNESCO and in multilateralism". "Clear is the sinister intention of the U.S. hastening the reentry into the organization ... The U.S. has an inglorious background of having withdrawn not only from UNESCO but also from WHO, the UN Human Rights Council and other international organizations," a statement released by North Korea's permanent mission to UNESCO said. The United States initially joined UNESCO at its founding in 1945 but withdrew in 1984 in protest against alleged financial mismanagement and perceived anti-U.S. bias before returning in 2003.

Persons: Joe Biden, Donald Trump's, Jack Kim, Ed Osmond Organizations: UNESCO, Wall Street, WHO, UN Human Rights, North, World Health Organization, United, U.S, Trump, Thomson Locations: SEOUL, North Korea, Paris, United States, multilateralism, U.S, Israel, Korea

☆ Blinken heads to Beijing hoping to calm fears of a US-China break
▼ + stars: | 2023-06-16 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +5 min

Blinken will hold meetings in China on June 18-19 and may meet with Chinese President Xi Jinping, sources said. He will be the highest-ranking U.S. government official to visit China since Biden took office in January 2021. That followed a tense evening phone call with Blinken on Tuesday during which Chinese Foreign Minister Qin Gang told the U.S. to stop meddling in China's affairs. So even going through the motions has some utility for both Washington and Beijing." Particularly worrisome for China's neighbors has been its reluctance to allow regular military-to-military talks between Beijing and Washington, despite repeated U.S. attempts.

Persons: Antony Blinken, Xi Jinping, Biden, Qin Gang, Wang Wenbin, Joe Biden, Andrew Small, Marshall, Tsai Ing, Stephane Dujarric, EYEING BIDEN, Xi, Emanuel Macron, Blinken's, Janet Yellen, Gina Raimondo, Yun Sun, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Martin Pollard, Michelle Nichols, Ben Blanchard, Don Durfee, Daniel Wallis Organizations: Blinken, Foreign, Washington, French, U.S, Treasury, China Program, Stimson, Economic Cooperation, APEC, Biden, Thomson Locations: Beijing, United States, China, U.S, Asia, Taiwan, Taiwan Strait, Washington, Bali, Europe, East, Africa, Saudi Arabia, India, San Francisco, New York, Taipei

Summary Fighting, which has plunged millions into hunger, expands westwardAssassination of West Darfur governor threatens further fightingDiplomatic peace efforts face pushbackCAIRO/DUBAI, June 15 (Reuters) - The conflict in Sudan hit the two-month mark on Thursday with no sign of a resolution as diplomatic peace efforts hit roadblocks and the risk of a broader ethnic war rises. It has shut down the economy, plunging millions of Sudanese into hunger and dependence on foreign aid, and shattered the health system. EL GENEINA ASSASSINATIONOn Wednesday, the governor of West Darfur, Khamis Abbakar, accused the RSF and allied Arab militias of carrying out a genocidal attack in El Geneina. Hours later, Abbakar was killed, and the Sudanese Alliance armed group he led blamed the RSF for killing him while in their custody. The RSF has denied responsibility and says that criminals and Bashir loyalists have been known to steal uniforms.

Persons: pushback, autocrat Omar al, Bashir, Khamis Abbakar, Abbakar, Hamit, Saboura Ahmed, General Mohamed Hamdan Dagalo, Abdel Fattah al, Burhan, Waleed Adam, RSF, Khalid Abdelaziz, Nafisa Eltahir, Maggie Michael, Adam Makary, Dawit, Nick Macfie Organizations: Darfur, Rapid Support Forces, Sudanese Alliance, Sudanese Transparency, Unit, Thomson Locations: pushback CAIRO, DUBAI, Sudan, U.S, El Geneina, West Darfur, Chad, Darfur, Kordofan, El, Chadian, sudanese, Sudan's Darfur, Sudanese, Khartoum, Omdurman, Bahri, Jeddah, East, Kenya, Ethiopia, East Khartoum, Dubai, Nafisa, Cairo, Addis Ababa

The deal, announced last month, would open more than 12,000 Tesla Superchargers to drivers of Ford vehicles in North America starting in 2024. SS&C has invested in such charging companies as ChargePoint Holdings Inc (CHPT.N), EVgo Inc (EVGO.O) and Blink Charging Co (BLNK.O). The Ford deal was a boost to Tesla's more widespread, reliable North American Charging Standard (NACS) and dented the value of smaller players offering the rival Combined Charging System (CCS). Complaints about other charging companies' software bugs or broken charging hardware only opens the door to greater access for Tesla's standard, however, industry officials said. Under its new deal, Ford will distribute Tesla adapters to customers and starting in 2025 will equip future EVs with NACS.

Persons: Joe Biden, Paul Baiocchi, Ford, Elon Musk, Tesla's, Biden, Pete Buttigieg, Tesla, Lazard, Mohit Kohli, Chris Harto, Arcady Sosinov, Chris Anthony, Sosinov, Abhirup Roy, Hyunjoo Jin, David Shepardson, Jarrett Renshaw, Ben Klayman, Matthew Lewis Organizations: FRANCISCO, Ford, North America, U.S, SS, C ALPS Advisors, ChargePoint Holdings, EVgo Inc, CNBC, CCS, EVs, Volta, Volkswagen AG, General Motors Co, BMW, Consumer, Aptera, Thomson Locations: U.S, North, Europe, San Francisco, Washington

☆ At UN, Ukraine, Russia blame each other for burst dam, US 'not certain'
▼ + stars: | 2023-06-06 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

UNITED NATIONS, June 6 (Reuters) - The United States said on Tuesday it was "not certain" who was to blame for a burst dam in Ukraine, but it would not make sense for Ukraine to have done this to its own people and territory, as Kyiv and Moscow blamed each other for the disaster. The 15-member U.N. Security Council met on Tuesday at the request of both Russia and Ukraine after a torrent of water burst through a massive dam on the Dnipro River that separates the opposing forces in southern Ukraine. U.N. Secretary-General Antonio Guterres said earlier on Tuesday that the world body did not have any independent information on how the dam burst, but described it as "another devastating consequence of the Russian invasion of Ukraine." Many Security Council members also asserted during Tuesday's meeting that the crisis would not have occurred if Russia had not invaded neighboring Ukraine in February last year. U.N. aid chief Martin Griffiths told the Security Council that "the sheer magnitude of the catastrophe will only become fully realized in the coming days."

Persons: U.N, Robert Wood, Wood, Antonio Guterres, Russia's U.N, Vassily Nebenzia, Nebenzia, Ukraine's U.N, Sergiy Kyslytsya, Kyslytsya, Martin Griffiths, Michelle Nichols, Ismail Shakil, Jamie Freed Organizations: UNITED NATIONS, United, Security, U.S, United Nations, Security Council, Thomson Locations: United States, Ukraine, Kyiv, Moscow, Russia, Dnipro, United, Russian

They are among 90,000 people who have escaped to Chad since fighting broke out in Sudan in mid-April - a major extra burden on one of the world's poorest countries. Even before this emergency, Chad was hosting 600,000 refugees from its war-torn neighbours and grappling with a fourth consecutive year of acute food shortages. Overall, around 2.3 million people are in urgent need of food aid, the World Food Programme warned earlier in May. Squeezed into the open-air compound, the women cook together over small braziers in the sand as children play around them. Hamit said she tried to help "even the refugees who have set up shelters nearby .... they come to us for water".

☆ Mediobanca buys Arma Partners to boost tech advisory offer
▼ + stars: | 2023-05-18 | by ( Valentina Za | ) www.reuters.com time to read: +2 min

The acquisition, which Mediobanca expects to boost its fee income by 10%, comes ahead of a new three-year strategy CEO Alberto Nagel will unveil on May 24. In the same year, it advised Germany's Aareal Bank (ARLG.DE) on the sale of a stake in its $1.1 billion software unit Aareon to Advent International. The deal will boost earnings per share, based on last year's figures, Mediobanca said, without elaborating. With 86 staff and some $100 million in yearly revenue, Arma was founded in 2003 by Paul-Noël Guély, a former head of software and services investment banking at Goldman Sachs. Arma has offices also in Munich, a U.S. presence and a network of affiliated advisory firms in Japan, Australia, Israel, Turkey and Brazil.

☆ At Cannes, independent film firms optimistic as streamers stumble
▼ + stars: | 2023-05-17 | by ( Miranda Murray | Thomson Reuters | Speed Editor On The Berlin Hub Who Provides General Coverage On Everything Politics To Energy In Germany | ) www.reuters.com time to read: +4 min

CANNES, May 17 (Reuters) - Independent film companies facing a market upended by the entry of streaming services are showing some optimism heading into this year's Cannes Film Festival as the Netflix era has begun flattening out and audiences start trickling back into cinemas post-pandemic. Cannes may make headlines for its glitz and glamour, but as the world's largest event for buying and selling movie rights, its importance to the industry is unparalleled. "It's a transitional time on the business side as the traditional business model that independent buyers use sees lessened value," said O'Shea. The similarity among much of the content offered on streaming platforms leaves theatre audiences wanting something different, an unmet appetite that independent companies could fulfil, he said. "Something good is happening, and I'm sure other streaming services will follow suit," Cannes Film Festival director Thierry Fremaux said in an interview with Le Film francais magazine in April.

The Biden Administration’s signature drug pricing reform, part of the Inflation Reduction Act (IRA), aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country. The first ever Medicare drug price reduction process begins in September, when the Centers for Medicare and Medicaid Services(CMS) identifies its 10 most costly drugs. Reuters has seen responses to CMS from five of the world's top drugmakers raising legal concerns with the law and the agency's proposed roadmap. Former CMS head Andy Slavitt, who now works at a venture capital company focused on healthcare, said the Medicare agency would have consulted lawyers. One said the Medicare roadmap, which did not go through a formal process with proposed and final rules, could be challenged in court for being unlawful as well.

☆ How The Legend of Zelda Changed the Game
▼ + stars: | 2023-05-04 | by ( Zachary Small | Rumsey Taylor | ) www.nytimes.com time to read: +17 min

More than six million people watched the preview for hints about the next video game in Nintendo’s beloved Legend of Zelda franchise. Tears of the Kingdom, the next entry in the Legend of Zelda franchise, will encourage players to manipulate and combine objects to fight enemies and explore Hyrule. The immersive gameplay of the Zelda franchise is bolstered by its deep mythology , convincing players they are unearthing ancient secrets. Retrieving the Master Sword often marks the point in a Zelda game when the difficulty spikes and the stakes are raised. Clockwise, from top left: The Legend of Zelda (1986), A Link to the Past (1991), Ocarina of Time (1998) and The Wind Waker (2002).

☆ Taliban not invited to UN Doha meeting on Afghanistan, says UN
▼ + stars: | 2023-04-28 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

UNITED NATIONS, April 28 (Reuters) - U.N. Secretary-General Antonio Guterres has not invited the Taliban administration to a meeting that he is convening with special envoys on Afghanistan from various countries in Doha next week, a U.N. spokesperson said on Friday. Last week the United Nations had to stress that the meeting will not focus on the possible international recognition of the Taliban administration after comments by the deputy U.N. chief sparked concern and confusion. Guterres' deputy, Amina Mohammed, had suggested last week that the meeting in Doha "could find those baby steps to put us back on the pathway to recognition." In December, the 193-member U.N. General Assembly approved postponing, for the second time, a decision on whether to recognize the Afghan Taliban administration by allowing them to send a United Nations ambassador to New York. The U.N. Security Council unanimously condemned on Thursday a Taliban administration ban on Afghan women working for the United Nations in Afghanistan and called on Taliban leaders to "swiftly reverse" a crackdown on the rights of women and girls.

Signature Bank's failure took only marginally longer. "The number 36 has just been, you know, branded in my brain," Atlanta Fed President Raphael Bostic told Reuters earlier this month. "I think that any time you have a bank failure like this, bank management clearly failed, supervisors failed and our regulatory system failed," Barr told U.S. lawmakers in a hearing in March. "It's how do we allow a bank whose failure threatened the financial system to persist without being subject to more aggressive intervention?" "One thing for certain ... this was a very significant supervisory failure," Tarullo said at the Peterson Institute for International Economics event on Wednesday.

☆ Analysts see even more gains ahead for Meta Platforms after latest earnings report
▼ + stars: | 2023-04-27 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Analysts liked what they saw from Meta Platform 's latest earnings report. The company projects revenue between $29.5 billion and $32 billion, while analysts expected sales of $29.5 billion, per Refinitiv. Goldman's Eric Sheridan also hiked his price target to $300, noting Meta maintained its momentum from the fourth quarter of 2022. Meanwhile, Bank of America's Justin Post noted that Meta's revenue recovery can drive the next leg higher for the stock. He also hiked his price target on Meta shares to $305 from $270, implying upside of 45.6%.

☆ Euro near one-year peak as US economic risks weigh on dollar
▼ + stars: | 2023-04-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, April 27 (Reuters) - The euro hovered near a one-year high versus the dollar on Thursday, as Europe's resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. IG analyst Tony Sycamore also sees risks skewed to the downside for the euro against the dollar. IG's Sycamore says the initial strength was driven by U.S. banking concerns, but the market was "apparently spooked by a large sell order." Provided bitcoin can remain above $25,000, Sycamore expects the token to test this month's high at $31,035.

☆ Wells Fargo loves these three regional banks and thinks one will rally 50%
▼ + stars: | 2023-04-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The lack of major outflows from many regional banks suggests that there are several stocks in the industry that could be big winners for investors, according to Wells Fargo. They expanded that optimism on Thursday evening by reiterating overweight ratings on Banc of California , East West Bancorp , F.N.B. Banc of California is the name of the three where Wells Fargo is the most bullish. Wells Fargo called Banc of California's deposit mix "impressive" and noted that the firm continued its stock buybacks despite the turmoil for regional banks. is less eye-popping at about 27%, but the bank's cautious approach should be reassuring to investors, Wells Fargo said.

☆ Taliban recognition not a focus of Afghanistan meeting, says UN
▼ + stars: | 2023-04-20 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

[1/2] A general view ahead of an aid conference for Afghanistan at the United Nations in Geneva, Switzerland, September 13, 2021. REUTERS/Denis BalibouseUNITED NATIONS, April 20 (Reuters) - A U.N.-convened meeting on Afghanistan next month will not focus on the possible international recognition of the Taliban administration, a U.N. spokesperson stressed on Thursday after comments by the deputy U.N. chief sparked concern and confusion. His deputy, Amina Mohammed, suggested on Monday the gathering "could find those baby steps to put us back on the pathway to recognition." Earlier this month the Taliban began enforcing a ban on Afghan women working for the United Nations after stopping most women working for humanitarian aid groups in December. The Taliban says it respects women's rights in accordance with its strict interpretation of Islamic law.

☆ Analysis: Banking crisis scars struggling U.S. real estate stocks
▼ + stars: | 2023-04-19 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

After slumping 28% last year, the S&P 500 real estate sector (.SPLRCR) has gained about 1% in 2023, lagging an 8% rise for the overall S&P 500 (.SPX). Real estate is the only one of the 11 S&P 500 sectors to underperform the benchmark index in both 2022 and so far in 2023. The real estate sector has slumped 2% since SVB's troubles came to light on March 8, compared to a 4% rise for the S&P 500. “There is nothing about the current banking situation ... that made life easier for real estate companies,” said Peter Tuz, president of Chase Investment Counsel. S&P 500 real estate company earnings are expected to fall 0.3% this year after rising almost 11% in 2022, according to Refinitiv IBES.

A Labor Department report showed producer prices rose 2.7% in March, on a year-over-year basis, below economists' estimates of a 3% rise. The dollar and Treasury yields slid as investors mostly stuck to expectations of the 25-bps hike after Thursday's data. Analysts expect S&P 500 companies to record a profit decline of 5.2% in the first quarter, as per Refinitiv IBES data, in what could be their worst showing since the third quarter of 2020. Financial companies that are part of the S&P 500 are expected to report a profit growth of 4.3% in the first quarter. ET, Dow e-minis were up 62 points, or 0.18%, S&P 500 e-minis were up 12.5 points, or 0.30%, and Nasdaq 100 e-minis were up 60.75 points, or 0.47%.

A Labor Department report showed producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. Jobless claims were also favorable news for the Fed," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Wall Street closed lower on Wednesday after data showed consumer prices rose at a slower-than-expected pace in March, however, core prices remained sticky and supported the case for another 25-basis point rate hike by the Fed in May. Analysts expect S&P 500 companies to record a profit decline of 5.2% in the first quarter, as per Refinitiv IBES data, in what could be their worst showing since the third quarter of 2020. Financial companies that are part of the S&P 500 are expected to report a profit growth of 4.3% in the first quarter.

UNITED NATIONS/KABUL, April 5 (Reuters) - U.N. chief Antonio Guterres condemned on Wednesday a ban by Afghanistan's Taliban authorities on Afghan women working for the United Nations, calling it "an intolerable violation of the most basic human rights" that should be immediately revoked. The United Nations has told some 3,300 Afghan staff - of which about 400 are female - not to report to their offices until further notice for security reasons. "Banning Afghan women from working with the U.N. in Afghanistan is an intolerable violation of the most basic human rights," Guterres posted on Twitter. Top U.N. officials in Kabul met with the Acting Afghan Minister of Foreign Affairs Amir Khan Muttaqi on Wednesday after the Taliban authorities signaled on Tuesday that they would enforce a ban on Afghan women working for the world body. So far it is only 5% funded and the United Nations says nearly three-quarters of the country's 40 million people need help.

Several major finance companies also voluntarily reported ethnicity pay data for the period. The majority of major finance firms nonetheless made progress in narrowly closing their gender pay gaps, according to their disclosures. ETHNICITY PAY GAPSHalf of the 20 finance firms reviewed reported varying detail on ethnicity pay gaps, with some including insurer Phoenix doing so for the first time. Where pay gaps were further broken down by ethnicity, they showed the largest pay disparities were between Black and white employees. All the employers said in their pay gap reports they were taking steps to improve diversity, particularly at senior levels.

☆ A green transition will require trillions of dollars. It'll be a 'tall order' to find the cash, but there's hope
▼ + stars: | 2023-04-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

"There's reason for great encouragement in what we've seen ... [happening] in the last year," Mark Dooley, global head of Macquarie Asset Management's Green Investment Group, said. The shift to a low and zero carbon future will require cutting edge technological innovation alongside huge levels of investment. Referencing the global situation, Dooley added: "We've just had our first year, in 2022, where we punched through a trillion dollars going into the energy transition — a trillion dollars." According to the International Energy Agency, clean energy investment will need to hit over $4 trillion a year by 2030 in its Net Zero Emissions by 2050 Scenario. What it calls "transition technologies" would account for 80%, or $35 trillion, of this.

☆ What crisis? U.S. bank-focused ETFs see strongest demand in months in March
▼ + stars: | 2023-03-31 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +2 min

Exchange-traded funds tracking U.S. regional banks saw their strongest net inflows in months, with the SPDR S&P Regional Banking ETF receiving $1.25 billion in the month to March 29, while the iShares U.S. Regional Banks ETF (IAT.P) took in $258 million, according to Refinitiv Lipper data. March was the first month of net buying for the IAT fund in a year, and one of the best months on record in terms of flows for KRE. US Bank ETFs in 2023A swift response from regulators and central banks encouraged investors looking to "buy at the bottom," Islam said. "As markets continue to settle down ... banks generally and major banks especially will outperform the S&P 500."

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☆ Signs of pain as easy cash era ends are growing
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 30 (Reuters) - The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades. Since late 2021, big developed economies including the United States, euro area and Australia have raised rates by almost 3,300 basis points collectively. Japanese, European and U.S. banks stocks, while off recent lows, are still well below levels seen just before SVB's collapse. Reuters Graphics2/ DARLINGS NO MOREAs the SVB collapse showed, stress in the tech sector can quickly ripple out across the economy. Reuters Graphics4/ CRYPTO WINTERHaving benefited from an influx of cash during the easy-money era, cryptocurrencies have felt pain as rates rose last year, then gained on recent signs that tightening could end soon.

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