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☆ Renault sets out targets for EV unit, says won't sell it cheap
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - French car maker Renault said on Wednesday its electric vehicles unit Ampere, which it plans to list on the market next year, forecast 10 billion euros ($10.8 billion) in revenues in 2025, more than doubling to 25 billion euros in 2031. Finance chief Thierry Pieton told reporters ahead of the presentation Renault would not sell off Ampere cheap and had ample cash flow to keep financing it should it not get the valuation it wanted for an IPO. Asked if Renault could decide to distribute Ampere shares to existing Renault shareholders instead of proceeding with an IPO, he said: "Renault is always open to other options for Ampere, but the IPO is the preferred option." Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time."

Persons: Gonzalo Fuentes, Luca de Meo's, Thierry Pieton, Ampere, Pieton, Renault, Gilles Guillaume, Silvia Aloisi Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, Finance, Thomson Locations: Porte, Paris, France, Europe

☆ Renault seeks to charge up investors for EV unit IPO
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

De Meo has targeted a valuation of 8-10 billion euros ($8.6-10.7 billion) for the initial public offering (IPO) of Ampere, which has already been delayed once and is now slated for spring 2024. Two of the sources said Renault was unlikely to go ahead with the IPO if the valuation falls below 7 billion euros, and one said the cut-off point could be closer to 6 billion euros. UBS analysts have valued Ampere at just 3-4 billion euros, and others have questioned the rationale of listing the EV business to raise funds. On Wednesday, De Meo will argue his case for what could be the first attempt by a traditional automaker to unlock value from an EV business via an IPO. Over the first nine months of 2023, Renault brand EV sales fell by around 5% in Europe, having been up 2.5% in the first half, weighed down by a limited line-up.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Renault, BEV, de Meo, Elon Musk's Tesla, Zoe, Silvia Aloisi, Mark Potter Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, UBS, ICE, Jefferies, Nissan, Elon, EV, Thomson Locations: Porte, Paris, France, Europe

☆ Salesforce's strong stock price wooed some investors during third quarter-filings
▼ + stars: | 2023-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The two hedge funds had each cut their investments in Salesforce during the second quarter. Still Starboard Value the first activist to speak publicly in October 2022 about needed changes at Salesforce cut its stake again, the filings show. On Sept. 30, the hedge fund owned 1.7 million shares, marking a 14% drop from what it owned at the end of the second quarter. Light Street Capital Management cut its stake by 44%, while Polen Capital Management trimmed it by 3.2%, the filings show. While Salesforce's stock price lost some ground during the third quarter, it has continued to move higher and closed trading at $221.18 on Tuesday.

Persons: Porte, Benoit Tessier, Salesforce, Mason Morfit, Svea Herbst, Bayliss, Aurora Ellis Organizations: Viva Technology, Porte de, REUTERS, Capital Management, Farallon Capital Management, Elliott Investment Management, ValueAct, Investment, Securities and Exchange, Street Capital Management, Polen Capital Management, Svea, Thomson Locations: Paris, France, Salesforce, Polen

☆ Viva Las Vegas, Formula One betting big on Sin City race
▼ + stars: | 2023-11-15 | by ( Steve Keating | ) www.reuters.com time to read: +5 min

Wynn resort is offering the first-ever Las Vegas Grand Prix Million Dollar All-Access Experience that includes a $100,000 philanthropic gift. "However, the brand synergies with the inaugural Las Vegas Grand Prix are unmatched." Formula One has long been a magnet for the celebrity class and Las Vegas is sure to be an irresistible pull. Las Vegas may be the gambling capital of the world but there will be little bet on F1. "I would say this is due to lack of parity," Derek Stevens, owner of Circa and several other Las Vegas casinos told Reuters.

Persons: Max Verstappen, Greg Maffei, Red Bull, Aston Martin, Hilton, Red, it’s, Rebecca McAdam Willetts, Mark Wang, David Beckham, Shaquille O’Neal, Mark Wahlberg, Gordon Ramsay, Toto Wolff, Derek Stevens, Steve Keating, Toby Davis Organizations: LAS VEGAS, Las Vegas, Liberty Media, Formula One, Vegas, Ferrari, Mercedes, McLaren, Red Bull, PokerStars, Public Relations, Reuters, Poker, New York Stock Exchange, American Express, Heineken, Hilton, MGM Resorts International, Fountain Club, Hilton Grand, Club SI, Drai's Beach Club, Thomson Locations: Vegas, United States, Sin City, VVIPs, Las Vegas, Monaco, Drai's, Toronto

Visitors cast their shadows past the logo of Google at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. "The payments that Google makes reflect that competition," he said. Murphy also argued that the payments to device makers and others were often passed through to users in the form of a cheaper phone or better data plan. Further, Murphy argued that while Microsoft had virtually all the preinstalled browser defaults in early 2010s, its Bing search engine got just 15% of search queries. Reporting by Diane Bartz Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Kevin Murphy, Apple, Murphy, Diane Bartz, Marguerita Choy Organizations: Google, Viva Technology, Porte de, REUTERS, Microsoft, Apple, University of Chicago Booth School of Business, Big Tech, Thomson Locations: Porte, Paris, France, WASHINGTON

☆ Zoom boomed during the pandemic, but the return-to-work drive means it's ready for a radical change
▼ + stars: | 2023-11-12 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

But as people return to the office, Zoom needs to branch out from virtual meetings, its key feature. To adapt to a hybrid world, Zoom is ready for a radical change, an exec says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For companies like video-communication platform Zoom, the transition means a drastic change to adapt to a new world of work, says its EMEA chief Frederik Maris. In August, the company said employees living within 50 miles of a Zoom office must go in at least two days a week.

Persons: —, Frederik Maris, Maris, Zoom Organizations: Service, Microsoft, Microsoft's Viva

☆ Elon Musk biopic rights clinched by A24, Darren Aronofsky to direct - source
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 10 (Reuters) - A biopic on Elon Musk is in the works at New York-based studio A24 with "Black Swan"-filmmaker Darren Aronofsky as the director, according to a source familiar with the matter. A24 secured the rights to Walter Isaacson's biography on the world's richest person, according to the source, who added the Musk biopic will be produced by Aronofsky's production company, Protozoa Pictures. He is one of the best," Musk said in an X post on Friday. The book on Musk was released by private equity firm KKR-owned book publishing powerhouse Simon & Schuster in September. The billionaire bought social media platform X, formerly known as Twitter, last year for $44 billion after a six-month saga.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Darren Aronofsky, Walter Isaacson's, Darren, Musk, Brendan Fraser, Walt Disney, Steve Jobs, Michael Fassbender, Simon, Simon & Schuster, Dawn Chmielewski, Harshita Mary Varghese, Akash Sriram, Shinjini Organizations: Elon, SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Walt, Apple, Universal, KKR, Simon &, Reuters, Boring Company, Thomson Locations: Paris, France, New York, Los Angeles, Bengaluru

☆ Elon Musk biopic rights clinched by A24, Darren Aronofsky to direct: Reuters source
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: 1 min

Elon Musk, chief executive officer of Tesla, at the Viva Tech fair in Paris, France, on Friday, June 16, 2023. A biopic on Elon Musk is in the works at New York-based studio A24 with "Black Swan"-filmmaker Darren Aronofsky as the director, according to a source familiar with the matter. A24 secured the rights to Walter Isaacson's biography on the world's richest person, according to the source, who added the Musk biopic will be produced by Aronofsky's production company, Protozoa Pictures. He is one of the best," Musk said in an X post on Friday. The studio has previously worked with the director to produce his film "The Whale" starring Brendan Fraser that won Academy Awards for best actor, and best makeup and hair styling.

Persons: Elon Musk, Tesla, Darren Aronofsky, Walter Isaacson's, Darren, Musk, Brendan Fraser Organizations: Viva Tech Locations: Paris, France, New York

☆ Mexican fans dream of an NBA franchise as the league promises expansion
▼ + stars: | 2023-11-10 | by ( Angelica Medina | ) www.reuters.com time to read: +3 min

Nov 9, 2023; Mexico City, MEX; A general overall view of the 2023 NBA Mexico City Game between the Orlando Magic and the Atlanta Hawks at the Arena CDMX. "(We want) a bigger footprint here in Latin America, ultimately, the dream of an NBA franchise coming to Mexico City one day," said Silver at a press conference. "Our goal is for the 30 NBA teams to play in here in Mexico City. A UNIQUE EXPERIENCEThe prospect of a Mexican franchise and more regular season games is exciting for local fans. ($1 = 17.6379 Mexican pesos)Reporting by Angelica Medina in Mexico City, additional reporting Amy Tennery Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Kirby Lee, Adam Silver, Silver, Bruno Fernando, Guerrero, Scottie Pippen, Orlando, Carlos Alcaraz, Josue, Angelica Medina, Amy Tennery, Christian Radnedge Organizations: Mexico City, Orlando Magic, Atlanta Hawks, USA, MEXICO CITY, National Basketball Association, NBA, NBA G League, Hawks, Chicago Bulls, Reuters, U.S, Ticketmaster, New York Knicks, Thomson Locations: Mexico City, MEX, Mexico, MEXICO, Central, America, Canada, Acapulco, Queretaro

☆ Snap conducts a small round of layoffs to its product team
▼ + stars: | 2023-11-08 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Snap has conducted a round of layoffs as part of a reorganization intended to streamline the social-messaging company. Nearly 20 employees who held product management titles were laid off, Snap said in a statement on Wednesday. The layoffs were not centered on any specific product and were part of the company's plans to increase decision-making speed and reduce overhead, the company said. The layoffs come after Snap recently reported third-quarter earnings in which its overall sales grew 5% year-over-year to $1.19 billion, beating analyst expectations. As a result, Snap said it would not provide official guidance "due to the unpredictable nature of war."

Persons: Evan Spiegel, Porte, Susan Li, Sen, Blumenthal, Blackburn Organizations: Snap Inc, Viva Technology, Porte de, Technology, Meta Locations: Paris, France, Israel

☆ French prosecutors investigating Sanofi over possible market manipulation
▼ + stars: | 2023-11-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A logo on the Sanofi exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. French prosecutors have opened a preliminary investigation into multinational pharmaceutical company Sanofi over possible market manipulation. "Sanofi is not aware of any preliminary investigation on its 2017 accounts or other matter by the Parquet National Financier. We stand by the accuracy of our accounts," Sanofi said in an emailed statement. "As a listed company, the financial information published by Sanofi is accurate, precise and sincere, and is duly audited by two auditing firms.

Persons: Sanofi, — CNBC's Charlotte Reed Organizations: Sanofi, Viva Technology, Porte de, CNBC, National Locations: Porte, Paris, France, National

☆ How Huawei plans to rival Nvidia in the AI chip business
▼ + stars: | 2023-11-07 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

Better known globally for its telecoms and smartphones businesses, Huawei has for the past four years been building an AI chip line. Here is what we know about its Ascend AI chip series, and its main product to rival Nvidia's A100 chip, the 910B. WHY AND HOW DID HUAWEI ENTER THE AI CHIP BUSINESS? Baidu ordered 1,600 of Huawei 910B chips for 200 servers in August, one source told Reuters. Analysts have estimated China's AI chip market to be worth $7 billion and grabbing market share from Nvidia could mark a win for Huawei against the United States.

Persons: Benoit Tessier, Nvidia, CANN, Liu Qingfeng, iFlyTek, Jiang Tao, Baidu, Meng Wanzhou, Josh Ye, Brenda Goh Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Nvidia, Huawei, Baidu, HK, HUAWEI, Reuters, Analysts, CHINA, Thomson Locations: Porte, Paris, France, HONG KONG, China, United States

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNEW YORK, Nov 2 (Reuters) - Amazon.com Inc (AMZN.O) punished its own sellers to limit Walmart's reach as Walmart got into e-commerce, according to the Federal Trade Commission (FTC). Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers. This, Amazon realized, could result in sellers passing on those savings to customers, the FTC said. To hamstring Jet.com, Amazon removed some third-party sellers' offers from its Buy Box. Amazon spokesperson Tim Doyle said the FTC "grossly mischaracterizes" the pricing tool and the company stopped using it several years ago.

Persons: Gonzalo Fuentes, it's, Burt Flickinger, Jet.com, Tim Doyle, Siddharth Cavale, Vanessa O'Connell, Lisa Shumaker Organizations: Viva Technology, Porte de, REUTERS, Amazon.com Inc, Walmart, Federal Trade Commission, Jet.com, Amazon, FTC, Jet, Thomson Locations: Paris, France, New York

☆ Why fashion is so important in Sofia Coppola’s ‘Priscilla’
▼ + stars: | 2023-11-03 | by ( Manav Tanneeru | Leah Dolan | ) edition.cnn.com time to read: +8 min

Another historical anchor for Battat was the hot pink collared dress worn by Priscilla after giving birth to Lisa Marie. Sabrina Lantos/Courtesy A24Dress is one of the first ways we see the cracks in Priscilla and Elvis’ relationship, too. Sabrina Lantos/Courtesy A24Battat then found a pink dress similar to one worn in an archival photo taken of the actor. Priscilla, in a pink dress and sitting cross-legged on the sofa, pores over the magazine, dressed as an imitation of the other woman. “No one will know that’s Ann-Margret’s pink dress,” said Battat.

Persons: Kim, Kanye, Priscilla, Elvis Presley, Priscilla ’, Elvis, Lisa Marie, Sabrina Lantos, Stacey Battat, Sofia Coppola’s, Priscilla ”, Jacob Elordi, Cailee Spaeny, “, ”, Priscilla herself, Battat, Coppola, Chanel, Philippe Le Sourd, Elvis ’, Valentino —, Valentino, “ He’s, —, “ Elvis, ” Coppola, she’s, Coppola —, Lux Lisbon, sexless nightgown, Marie Antoinette ”, Spaeny, “ Cailee, ‘, Ann, Margret, ’, dalliances, that’s Ann Organizations: CNN, Vegas, Battat, Lux Locations: Bad Nauheim, Germany, Los Angeles, Priscilla, Graceland, Austrian, France, Versailles, Las Vegas

☆ UK secures commitments from Amazon and Meta over retail platforms
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Amazon is seen at the Viva Technology conference at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Britain's competition watchdog said on Friday it had accepted commitments from tech companies Meta (META.O) and Amazon (AMZN.O) to help protect fair competition on their retail platforms. The commitments from the U.S. tech giants mark the end of the Competition & Markets Authority's (CMA) investigation into Amazon Marketplace and Meta's use of advertising data. Amazon has committed to not use rival sellers' marketplace data to gain an unfair advantage, ensuring that third-party marketplace sellers can compete on a level-playing field, the CMA said. CMA in July had said that Amazon's offer to change the way it treats third-party sellers using its Marketplace platform addresses competition concerns in its preliminary view.

Persons: Gonzalo Fuentes, Meta, Kylie MacLellan, Farouq Suleiman, Radhika Anilkumar, William James, David Evans Organizations: Viva Technology, Porte de, REUTERS, Competition, Amazon Marketplace, CMA, Facebook, Thomson Locations: Paris, France, U.S, London, Bengaluru

☆ Italy Weighs Ban on Technocrat-Led Government in Proposed Constitution Reform
▼ + stars: | 2023-11-03 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Angelo Amante and Giuseppe FonteROME (Reuters) - Italy's cabinet was set to propose on Friday a ban on technocrat-led governments, a draft law bill seen by Reuters showed, as part of a constitutional reform to introduce the direct election of the prime minister. Italy has had almost 70 governments since World War Two, more than twice the number in Britain and Germany. The right-wing administration of Prime Minister Giorgia Meloni, who took office last year, made ending the country's chronic political instability strengthening the bond between governments and voters a key policy plank. The main opposition groups, the centre-left Democratic Party (PD) and the 5-Star Movement, have already spoken out against the plan. Only the small centrist Italia Viva party of former premier Matteo Renzi said it might back the government.

Persons: Angelo Amante, Giuseppe Fonte, Giorgia Meloni, Mario Draghi, Sergio Mattarella, COVID, Matteo Renzi, Alison Williams Organizations: Reuters, European Central Bank, Democratic Party, Star Movement, Italia Viva Locations: Italy, Britain, Germany, technocrats

☆ Here's an update on 10 of our companies that reported earnings and how we feel about each stock
▼ + stars: | 2023-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

GOOGL YTD mountain Alphabet YTD Alphabet (GOOGL): The quarter from the Google parent was mixed . On one hand, we were pleased to see revenue growth acceleration and beats at Search and YouTube. For Alphabet to catch up in the AI race, it might be forced to invest more aggressively, creating an imbalance between revenue growth and expense growth. AMZN YTD mountain Amazon YTD Amazon (AMZN): This was a fantastic quarter that checked a lot of boxes for us. While AWS cloud revenue growth may not have accelerated as some optimistic bulls had hoped for, it stabilized.

Persons: Jim Cramer's, Here's, inflect, We're, Mark Zuckerberg's, Danaher, Ford, Decker YTD Stanley Black, Decker, Jim Cramer, Jim, Benoit Tessier Organizations: Jim Cramer's Charitable, CNBC, Sciences, Microsoft, Google, Web Services, LIN, Linde, Honeywell, Aerospace, Technologies, Materials, Productivity Solutions, Ford, UAW, Meta, Inc, Viva Technology, Porte de Locations: China, North America, breakeven, Porte, Paris

One of them said that the cut off point could be closer to 6 billion euros ($6.33 billion). Some analysts had already questioned Renault's hoped-for valuation of up to 10 billion euros, with some suggesting the carmaker should pursue alternative options to raise cash. De Meo said in September that the listing could value Ampere at between 8 and 10 billion euros, above the French carmaker's own current market capitalisation of 9.55 billion euros. Other EV makers have seen their market value fall sharply in recent months. The Ampere IPO would include a mix of Renault's shares and new shares and could happen as early as April 2024, one of the people said, depending on market conditions.

Persons: Gonzalo Fuentes, Ampere, France's, Tesla, Renault's, Luca de Meo, China's Geely, IPOs, De Meo, Bernstein, de Meo, Elon Musk's Tesla, Mathieu Rosemain, Silvia Aloisi, Pablo Mayo Cerqueiro, Gilles Guillaume, Anousha Sakoui, Alexander Smith Organizations: Renault, Viva Technology, Porte de, REUTERS, Reuters, DKV Mobility, HK, Saudi Arabia's Aramco, Nissan, IPOs Renault, EV, Commission, UBS, Barclays, Ampere, Mitsubishi, Thomson Locations: Porte, Paris, France, LONDON, China, Saudi, Europe, Ampere, Elon

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

☆ Elon Musk expected to attend global AI summit in UK - source
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsLONDON, Oct 30 (Reuters) - Billionaire entrepreneur Elon Musk is expected to attend a global summit on artificial intelligence in Britain this week, according to a government official. Around 100 participants will discuss subjects including the unpredictable advances of AI and the potential for humans to lose control of it, according to the agenda. While several world leaders, including U.S. Vice President Kamala Harris and President of the European Commission Ursula von der Leyen are due to attend the summit, the full guest list has not been made public. "In conversation with @elonmusk after the AI Safety Summit Thursday night on @X," British Prime Minister Rishi Sunak said on Musk's social media platform X.Sunak's Downing Street office declined to comment.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Kamala Harris, Ursula von der Leyen, @elonmusk, Rishi Sunak, Sunak's, Andrew MacAskill, Michael Holden Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Billionaire, U.S, Thomson Locations: Paris, France, Britain

☆ Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report
▼ + stars: | 2023-10-30 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Musk also repeatedly said, during that call, that Tesla was facing serious challenges with the start of production of its long-awaited Cybertruck. Shares have dropped about 18% since the company's earnings call Oct. 18. We believe that Tesla may have to guide to deliveries below consensus next year AND face lower margins." Bernstein, with its bearish view of Tesla, is forecasting 2.15 million deliveries from Tesla next year with earnings per share of $2.59 compared to the consensus view of 2.3 million deliveries and earnings per share of $3.30. Shares of ON Semiconductor , which supplies chips for EVs, were down 20% Monday after the company offered disappointing Q4 guidance.

Persons: Elon Musk, Porte, Tesla, Musk, It's, Bernstein's Toni Sacconaghi, Bernstein, Sacconaghi Organizations: SpaceX, Tesla, Viva Technology, Porte de, Panasonic, U.S, Cybertruck, ON Semiconductor, CNBC Locations: Paris, Japan, Ortex, London

☆ Italy drafts plan for direct election of prime minister
▼ + stars: | 2023-10-30 | by ( Angelo Amante | ) www.reuters.com time to read: +2 min

Summary Italy suffers from chronic political instabilityCabinet seen discussing proposed reform on FridayBroad majority needed to avoid referendumROME, Oct 30 (Reuters) - Italian Prime Minister Giorgia Meloni and top ministers on Monday backed a constitutional reform proposal introducing the direct election of the prime minister, in an effort to end the country's chronic political instability. Meloni made constitutional reform a key policy plank of her right-wing coalition after winning power in September last year. Italy has had almost 70 governments since World War Two, more than twice the number in Britain and Germany. Matteo Renzi, who stepped down as premier after his failed reform in 2016, said his small centrist Italia Viva party would be ready to back the direct election of the prime minister. The prime minister need not necessarily be an elected politician.

Persons: Giorgia Meloni, Meloni, Maria Elisabetta Alberti Casellati, Benito Mussolini's, Matteo Renzi, Angelo Amante, Gavin Jones, Jonathan Oatis Organizations: Italian, Monday, Star Movement, Democratic Party, Italia Viva, Thomson Locations: Italy, ROME, Britain, Germany

☆ Musk says Starlink to provide connectivity in Gaza through aid organizations
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gonzalo Fuentes/File photo Acquire Licensing RightsOct 28 (Reuters) - Elon Musk said on Saturday that SpaceX's Starlink will support communication links in Gaza with "internationally recognized aid organizations". Musk said in a post on social media platform X, formerly known as Twitter, that it was not clear who has authority for ground links in Gaza, but we do know that "no terminal has requested a connection in that area". Following Russia's February 2022 invasion of Ukraine, Starlink satellites were reported to have been critical to maintaining internet connectivity in some areas despite attempted Russian jamming. Since then, Musk has said he declined to extend coverage over Russian-occupied Crimea, refusing to allow his satellites to be used for Ukrainian attacks on Russian forces there. Reporting by Baranjot Kaur in Bengaluru; editing by Diane Craft and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Musk, Baranjot Kaur, Diane Craft, David Gregorio Our Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, International, Thomson Locations: Paris, France, Gaza, Israel, Ukraine, Crimea, Bengaluru

☆ Exclusive: Google to run internet cables to Pacific islands in Australia-US deal
▼ + stars: | 2023-10-25 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - Alphabet's Google (GOOGL.O) will run undersea cables powering internet access to at least eight far-flung Pacific Ocean nations under a joint U.S.-Australian deal set to be announced on Wednesday, according to a U.S. official. The deal will expand an existing commercial project by Google in the region to the nations of Micronesia, Kiribati, the Marshall Islands, Papua New Guinea, the Solomon Islands, Timor-Leste, Tuvalu and Vanuatu. Set to be announced during an official White House visit by Australian Prime Minister Anthony Albanese, the previously unreported deal involves contributions from both governments. Google is currently working on a fiber-optic cable that links Taiwan, the self-ruled island claimed by China, with the Philippines and the United States. As part of the Pacific islands project, the United States will work with the countries on cybersecurity resilience, helping them back up key information to global cloud networks, according to the official.

Persons: Gonzalo Fuentes, White, Anthony Albanese, Joe Biden, Trevor Hunnicutt, Raju Gopalakrishnan Organizations: Google, Viva Technology, Porte de, REUTERS, Rights, U.S, Australian, Thomson Locations: Porte, Paris, France, U.S, Micronesia, Kiribati, Marshall Islands, Papua New Guinea, Solomon Islands, Timor, Leste, Tuvalu, Vanuatu, Canberra, Washington, China, United States, Taiwan, Philippines

☆ Microsoft shut down an internal employee discussion on the Israel-Hamas war
▼ + stars: | 2023-10-23 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Microsoft shut down a discussion between employees about the Israel-Hamas war, internal messages show. "Amidst the ongoing Palestinian Israeli war, it saddens me to witness a company that so strongly promotes Diversity and Inclusion show such strong discrimination and marginalization," the person wrote. The post does not specifically reference which comments from senior leaders the employee viewed as biased. "We have Palestinian employees globally who are deeply concerned for the safety of their loved ones in the region and stand against these acts of terrorism." Are you a Microsoft employee?

Persons: Kathleen Hogan, Hogan, Innocent, Hamas's Organizations: Microsoft, Viva Engage, Microsoft Employee, Group, Hamas, Nvidia Locations: Israel, Palestinian, Gaza

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