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☆ VIEW Ford reaches tentative deal with striking UAW workers
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 25 (Reuters) - The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. DANIEL IVES, ANALYST AT WEDBUSH SECURITIES"It's a relief for investors that this UAW nightmare is now over for Ford. JOE BIDEN, U.S. PRESIDENT"I applaud the UAW and Ford for coming together after a hard fought, good faith negotiation and reaching a historic tentative agreement tonight. GENERAL MOTORS STATEMENT"We are working constructively with the UAW to reach a tentative agreement as soon as possible." STELLANTIS STATEMENT"We remain committed to working toward a tentative agreement that gets everyone back to work as soon as possible."

Persons: Rebecca Cook, HARLEY SHAIKEN, DANIEL IVES, Farley, Ford, JOE BIDEN, JEFFREY SCHARF, SHAWN FAIN, Abhirup Roy, David Shepardson, Joe White, Peter Henderson, Christopher Cushing Organizations: Auto Worker, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, United Auto Workers, UAW, Ford Motor, UNIVERSITY OF, TIM, Ford, GM, U.S, Big, ACT, Thomson Locations: Wayne , Michigan, UNIVERSITY OF CALIFORNIA, BERKELEY, Detroit

The U.K.-headquartered bank, which earns most of its revenue in Asia, booked July-September statutory pretax profit of $633 million. That compared with $996 million a year earlier and the $1.41 billion average of 16 analyst estimates compiled by the bank. China Bohai booked a 17.8% fall in January-June net interest income, leading to a nearly 7% decline in its overall profit, according to company filings. StanChart's Chinese real estate exposure totalled $2.7 billion, down $200 million from the previous quarter. StanChart has recently had "no contact" with FAB, Chief Financial Officer Andy Halford told reporters on a conference call on Thursday.

Persons: Peter Nicholls, StanChart, China Bohai, Andy Halford, Jefferies, Joe Dickerson, Dickerson, Selena Li, Lawrence White, Christopher Cushing Organizations: Chartered, REUTERS, Bank, Bohai, China Bohai Bank, HK, Abu Dhabi Bank, Thomson Locations: London, Britain, Bohai Bank, China, HONG KONG, China Bohai, Russia, Ukraine, Asia, Tianjin, StanChart

☆ OVH forecasts lower revenue growth in 2024 amid tough backdrop
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The logo of French cloud computing company OVHcloud is seen on the company's building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier Acquire Licensing RightsOct 25 (Reuters) - OVHcloud (OVH.PA) on Wednesday forecast lower organic growth in the next fiscal year, citing uncertain macroeconomic conditions continue to dent the French cloud services provider's operations. OVH sees its revenue in the 2024 fiscal year to rise by 11-13%, while analysts in a company-compiled poll expect full-year revenue growth of 14.7% on average. Revenue in the year rose 13.4% to 897 million euros ($950.91 million), a touch below 899.8 million seen by analysts, OVH said. This came in line with its latest forecast for a 13-14% full-year growth.

Persons: Sarah Meyssonnier, OVH, Boleslaw Lasocki, Christopher Cushing, Sherry Jacob, Phillips Organizations: REUTERS, Revenue, Thomson Locations: Paris, France, North America

☆ China's new bonds to help economic recovery, official says, as budget deficit rises
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Oct 25 (Reuters) - China's new sovereign bonds will help bolster the economic recovery, China's vice finance minister Zhu Zhongming said on Wednesday, as the government's stepped-up fiscal stimulus sharply raises its budget deficit. The government's debt level is still within a reasonable range, the minister said, without giving details. Analysts at UBS expect the government to raise its budget deficit and special local bond quotas for 2024, alongside further cuts in interest rates and bank reserve requirement ratios. China's parliament has also approved a bill to allow local governments to front load part of 2024 local bond quotas. Local governments had been told to complete the issuance of the 2023 quota of 3.8 trillion yuan in special local bonds by September to fund infrastructure projects.

Persons: Dado Ruvic, Zhu Zhongming, Zhu, Ting Lu, Ellen Zhang, Kevin Yao, Christopher Cushing Organizations: REUTERS, Rights, Nomura, UBS, Thomson Locations: Rights BEIJING, Beijing, China

☆ Amazon Web Services to launch European sovereign cloud
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

3D printed clouds and figurines are seen in front of the AWS (Amazon Web Service) cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSTOCKHOLM, Oct 25 (Reuters) - Amazon (AMZN.O) Web Services (AWS) said on Wednesday it will launch a sovereign cloud in Europe for government and customers in highly regulated industries. The sovereign cloud will store data on servers located in the European Union, and only EU-resident AWS employees will have control of the operations and provide support, the cloud-computing division of Amazon said in a statement. Microsoft (MSFT.O) and Oracle (ORCL.N) have also launched their cloud versions for European government customers. AWS will launch first in Germany and make its service available to all European customers.

Persons: Dado Ruvic, Supantha Mukherjee, Christopher Cushing Organizations: REUTERS, Rights, Services, European Union, Amazon, European, Microsoft, Oracle, Thomson Locations: Rights STOCKHOLM, Europe, European Union, Germany, Stockholm

☆ Country Garden default on dollar bond declared for first time -Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 25 (Reuters) - Chinese developer Country Garden Holdings (2007.HK) has been deemed in default on a U.S. dollar bond for the first time, Bloomberg News reported on Wednesday, citing a notice. Country Garden's failure to pay interest on the note within a grace period that ended last week "constitutes an event of default", Bloomberg reported citing the notice to holders from a trustee. Reporting by Gursimran Kaur in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gursimran Kaur, Christopher Cushing Organizations: Shanghai Country Garden, REUTERS, Country Garden Holdings, HK, U.S, Bloomberg, Thomson Locations: Shanghai, China, Bengaluru

☆ China-US Economic Working Group holds first meeting
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: 1 min

United States and Chinese flags are set up before a meeting between U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng at the Diaoyutai State Guesthouse in Beijing, China, Saturday, July 8, 2023. Mark Schiefelbein/Pool via REUTERS/File Photo/File Photo Acquire Licensing RightsBEIJING, Oct 24 (Reuters) - The China-U.S. Economic Working Group held its first meeting via video link on Tuesday, the Chinese finance ministry said. The two sides had "in-depth, candid and constructive" discussion on the macroeconomic situation and policies, and bilateral economic relations and cooperation, the ministry said. China also expressed its concerns, and both sides will maintain communication, it said. Reporting by Liz Lee and Ethan Wang; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Mark Schiefelbein, Liz Lee, Ethan Wang, Christopher Cushing Organizations: Treasury, Rights, Economic, Group, Thomson Locations: United States, Diaoyutai, Beijing, China, Rights BEIJING, U.S

☆ Bitcoin soars 10% to 2-1/2 year high
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

Bitcoin logo, representation of cryptocurrencies and rising stock graph are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Acquire Licensing RightsSINGAPORE, Oct 24 (Reuters) - Cyrptocurrency bitcoin leapt as much as 14% to a 2-1/2 year high of $34,283 in early Asia hours on Tuesday, on speculation that the U.S. could soon approve a bitcoin exchange-traded fund. Bitcoin was last up 10% at $33,030. Smaller rival ether was up 6% at $1,763. Reporting by Tom Westbrook; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, bitcoin, Bitcoin, Tom Westbrook, Christopher Cushing Organizations: REUTERS, Rights, Thomson Locations: Rights SINGAPORE, Asia, U.S

☆ India's fiscal position remains solid, headline inflation to stay within target - ministry
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

A labourer carries a sack at a wholesale market in the old quarters of Delhi, India, June 7, 2023. REUTERS/Anushree Fadnavis/File photo Acquire Licensing RightsNEW DELHI, Oct 23 (Reuters) - India's fiscal position remains solid with steady revenue growth, and headline inflation is likely to remain within the target band, the government said on Monday. "Rationalisation of revenue expenditure has enabled the front-loading of capital expenditure while keeping the market borrowing programme tied to the budgeted target," the report said. Headline inflation was also likely to remain within the target band, the report said, due to the downward trajectory observed in core inflation. While sluggish global demand is affecting India's trade, this is projected to recover in the second half, said the report adding that India's forex reserve position is "comfortable" and external account "robust".

Persons: Anushree, Downside, Nikunj Ohri, Shilpa Jamkhandikar, Christopher Cushing, Mike Harrison Organizations: REUTERS, Reuters, Thomson Locations: Delhi, India, DELHI

☆ China says US statement on collision with Philippine boat disregards facts
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

A Philippine flagged boat is blocked by a China Coast Guard vessel during an incident that resulted in a collision between the two vessels, in the disputed waters of the South China Sea in this screen grab obtained from handout video released October 22, 2023. China Coast Guard/Handout via REUTERS Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - China's foreign ministry on Monday said a U.S. statement in which Washington sided with the Philippines regarding a collision between vessels in the South China Sea "disregarded the facts". China and the Philippines traded accusations on Sunday over the collision in disputed waters of the South China Sea, as Chinese vessels blocked Philippine boats supplying forces there in the latest of a series of maritime confrontations. In a statement on Sunday, the U.S. State Department said China's coast guard had "violated international law by intentionally interfering with the Philippine vessels' exercise of high seas freedom of navigation". Maritime confrontations between Manila and Beijing have become a regular feature in the South China Sea, as both countries assert their territorial claims in the highly strategic waters.

Persons: Mao Ning, China's, Mao, Thomas Shoal, Thomas, Liz Lee, Bernard Orr, Christopher Cushing, Miral Organizations: China Coast Guard, REUTERS Acquire, Rights, Washington, U.S . State Department, Thomson Locations: Philippine, South, Rights BEIJING, U.S, Philippines, China, South China, United States, China's Nansha, Spratly Islands, Manila, Beijing

☆ Kioxia has reached out to JIC to invest in merger with Western Digital - Bloomberg News
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

Japanese chipmaker Kioxia's products are displayed at its headquarters in Tokyo, Japan, September 30, 2021. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 20 (Reuters) - Kioxia Holdings has reached out to state-backed Japan Industrial Partners (JIC) to invest in a planned merger of its flash memory business with that of Western Digital, Bloomberg News reported on Friday, citing people familiar with the matter. Japan's top banks are set to commit to 1.9 trillion yen ($12.67 billion) in financing to support the merger, Reuters reported on Thursday. read more($1 = 149.9400 yen)Reporting by Rocky Swift; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Rocky Swift, Christopher Cushing Organizations: REUTERS, Rights, Kioxia Holdings, Japan Industrial Partners, Western Digital, Bloomberg, Reuters, Thomson Locations: Tokyo, Japan

☆ Japan provides up to $80 mln subsidy to moonshot startup ispace
▼ + stars: | 2023-10-20 | by ( Kantaro Komiya | Thomson Reuters | Kantaro Writes About Everything Japan'S Economic Indicators To North Korea'S Missiles To Global Regulation On Ai Companies. His Previous Stories Have Been Published In The Associated Press | ) www.reuters.com time to read: +1 min

A model of the lunar rover in HAKUTO-R lunar exploration program by "ispace" is pictured at a venue to monitor its landing on the Moon, in Tokyo, Japan, April 26, 2023. REUTERS/Kim Kyung-Hoon/File photo Acquire Licensing RightsTOKYO, Oct 20 (Reuters) - Japan will provide a subsidy of up to 12 billion yen ($80 million) to moon exploration startup ispace (9348.T) as part of a grant programme for innovative ventures, industry minister Yasutoshi Nishimura said on Friday. Tokyo-based ispace aims to launch its second moon lander next year and start a NASA-sponsored moonshot in 2026, following its failed first lunar landing attempt in April this year. The grant would not have any material impact on the company's near-term earnings forecast since it relates to a future mission, ispace added. The company has expected to book a net loss of 4.5 billion yen in the current financial period ending in March 2024.

Persons: Kim Kyung, Yasutoshi Nishimura, ispace, Kantaro Komiya, Christopher Cushing, Robert Birsel Organizations: REUTERS, Rights, NASA, Thomson Locations: HAKUTO, Tokyo, Japan

☆ Israel announces evacuation plan for Kiryat Shmona city near Lebanese border - defense ministry
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

A tank is driven on a tank transporter on a road in Kiryat Shmona, northern Israel, October 11, 2023. REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsJERUSALEM, Oct 20 (Reuters) - Israel has ordered the evacuation of residents of Kiryat Shmona, a northern town close to the Lebanese border, the defence ministry said on Friday. Kiryat Shmona has a population of more that 20,000 and is some 2 km (1 mile) from the border fence. Reporting by Dan Williams; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Lisi Niesner, Kiryat Shmona, Dan Williams, Christopher Cushing Organizations: REUTERS, Rights, Thomson Locations: Kiryat Shmona, Israel, Lebanese

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

Real internal growth (RIG) - or a measure of sales volumes - fell 0.6%, meeting expectations. "The ultimate catalyst for the stock's multiple to improve is going to be seeing that volume number going positive." Analysts had on average expected organic sales growth of 8.1%. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8% and underlying trading operating profit margin between 17.0% and 17.5%. The drug's popularity has prompted concerns in the consumer and retail industry over whether food sales will be impacted.

Persons: Denis Balibouse, Nestle, Mark Schneider, Schneider, Richard Saldanha, Maggi, Novo, Richa Naidu, Christopher Cushing, Jason Neely Organizations: Nestle, REUTERS, Gillette, Aviva, Novo Nordisk's, Walmart, Thomson Locations: Romont, Switzerland, Ukraine

Kit Kat chocolate-covered wafer bars manufactured by Nestle are seen in London, Britain, July 25, 2018. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Nestle (NESN.S) on Thursday said it has started work on products to "companion" weight loss drugs like Novo Nordisk's (NOVOb.CO) game-changing Wegovy, hoping to cash in on their growing popularity. "We're working already on a wide range of products that could serve as companion products," Schneider said during an earnings briefing, noting that some supplements can help with the "loss of lean muscle mass" and "rapid regain of weight". "The largest parts of our portfolio will not be affected" by this new breed of weight loss drugs, he said. Wegovy has been shown to help patients reduce body weight by around 15% when used along with exercise and lifestyle changes.

Persons: Kat, Hannah McKay, Mark Schneider, Nestle, Schneider, Wegovy, Richa Naidu, Christopher Cushing Organizations: Nestle, REUTERS, Walmart, Thomson Locations: London, Britain, Swiss, United States, Norway, Denmark, Germany

☆ California governor Newsom to visit China next week to discuss climate action
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Gavin Newsom, governor of the State of California, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - California governor Gavin Newsom will visit China next week to discuss climate cooperation, promote bilateral economic development and tourism and encourage cultural exchanges, his office said in a statement on Thursday. "California and China hold the keys to solving the climate crisis," Newsom said. California has played a major role in maintaining climate ties between China and the United States, the world's two biggest greenhouse gas emitters. China and the United States relaunched top-level bilateral climate talks earlier this year after a hiatus triggered by the visit of former House of Representatives Speaker Nancy Pelosi to Taiwan, the democratically governed island that China claims.

Persons: Gavin Newsom, Mike Blake, Newsom, Donald Trump, Xie Zhenhua, Jerry Brown, Nancy Pelosi, Xie, John Kerry, David Stanway, Christopher Cushing Organizations: of, Milken, Global Conference, REUTERS, China Climate Institute, Beijing's Tsinghua University, United States, U.S, Dubai, Thomson Locations: of California, Beverly Hills , California, U.S, California, China, Hong Kong, Beijing, Shanghai, Jiangsu, Guangdong, . California, United States, Paris, Taiwan, Singapore

☆ Honda, GM, Cruise plan to begin Japan driverless ride service in early 2026
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Honda Motor (7267.T) said on Thursday that it aims to set up a joint venture with General Motors (GM.N) and Cruise to begin a driverless ride service in Japan in early 2026. The three companies aim to establish the joint venture in first half of 2024 pending regulatory approval, the Japanese company said in a statement without providing financial details. Vogt said it was hard to say whether offering a driverless ride service in Tokyo posed a unique or distinct challenge for the company. The Japan service is planned to launch in central Tokyo, using dozens of Origins before expanding to a fleet of 500 vehicles, Honda said in its statement. The companies plan to later broaden the service to areas beyond central Tokyo, Honda said.

Persons: Rebecca Cook, Cruise, Waymo, Honda, Kyle Vogt, Vogt, Toshihiro Mibe, Daniel Leussink, Mariko Katsumura, Rocky Swift, David Dolan, Christopher Cushing Organizations: General Motors, REUTERS, Rights, Honda, Cruise, GM, Thomson Locations: Detroit , Michigan, U.S, Japan, San Francisco, United States, Tokyo, Austin

☆ Asian stocks fall, gold at over 2-month high as Middle East tension weighs
▼ + stars: | 2023-10-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

U.S. stocks ended sharply lower on Wednesday as elevated Treasury yields weighed, with investors assessing the latest batch of quarterly corporate results and forecasts. Tesla (TSLA.O) CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers as the company missed Wall Street expectations on third-quarter gross margin, profit and revenue. Meanwhile, Federal Reserve policymakers are signalling a pause in hiking interest rates for another couple months. A Reuters poll of economists indicated that the Federal Reserve will keep its key interest rate on hold on Nov. 1 and may wait longer than previously thought before cutting it. Spot gold was at $1,948.16 per ounce, just shy of $1,962.39 its highest since Aug. 1 touched on Tuesday.

Persons: Aly, Treasuries, Anderson Alves, Joe Biden, Alves, Elon Musk, Christopher Waller, Jerome Powell, Brent, Ankur Banerjee, Christopher Cushing Organizations: REUTERS, Rights, Japan's Nikkei, Gaza, HK, Reuters, Taiwan Semiconductor Manufacturing Co, Reserve, European Economics & Financial, Federal Reserve, OPEC, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, Asia, Pacific, Japan, U.S, Israel, China's, London, United States, Venezuela

☆ Nicaragua sends Catholic priests to Rome after talks with Vatican
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer/File Photo Acquire Licensing RightsOct 18 (Reuters) - Nicaragua sent a dozen Catholic priests who had been "processed" by judicial authorities to Rome on Wednesday, the government said, the latest action, a critic said, in a government crackdown on the church. President Daniel Ortega has at times accused Catholic church leaders of seeking to overthrow his government, while judicial authorities have arrested priests and accused some of committing treason, among other crimes. An exiled Nicaraguan researcher who publishes records of what she describes as the persecution of the Catholic Church under Ortega said sending the priests to Rome was a "forced removal." The researcher, Martha Patricia Molina, accused Ortega of seeking to "strangle and disappear" the church with such action. Bishop Rolando Alvarez, perhaps Ortega's most prominent Catholic critic, was this year sentenced to a 26-year jail term on treason charges, but was not among the 12 priests the government sent to Rome.

Persons: Stringer, Daniel Ortega, Ortega, Martha Patricia Molina, Bishop Rolando Alvarez, Valentine Hilaire, David Alire Garcia, Christopher Cushing, Robert Birsel Organizations: Metropolitan Cathedral, REUTERS, Catholic, Thomson Locations: Managua, Nicaragua, Rome, Italy, Nicaraguan, United States

LONDON, Oct 19 (Reuters) - Nestle (NESN.S) said it has "temporarily shut down" of one of its production plants in Israel as a "precaution", becoming the first consumer products giant to announce a response to the conflict there. Several global companies have temporarily shut some operations in Israel and asked their employees to work from home after the country came under a surprise attack by Palestinian Islamist group Hamas earlier this month. I have no comment on the development of the business," Nestle Chief Executive Mark Schneider said on an earnings call with journalists. Other multinational packaged goods companies have so far remained silent on the conflict, even as retail, healthcare and oil companies have rushed to voice their positions. The silence follows criticism of the packaged goods industry for choosing to keep one foot in Russia while continuing to sell "essential" products such as diapers and infant formula there.

Persons: Mark Schneider, Richa Naidu, Christopher Cushing Organizations: Nestle, Palestinian, Hamas, Thomson Locations: Israel, Russia

FDI in Brazil fell 36% in the first eight months of 2023 to $37.9 billion. Currently, investors in long-term projects in Brazil with exposure to foreign currency pay taxes on currency appreciation over the course of the project - which the central bank has long flagged as a deterrent for FDI. Haddad said he was confident that policymakers had found a tool to shield investors from currency risks keeping them away. Executive orders in Brazil have immediate validity but must be endorsed by lawmakers within four months or they expire. Without that measure, Haddad said it will be "very challenging" to erase the deficit in next year's budget bill.

Persons: Fernando Haddad, Haddad, Luiz Inacio Lula da, Marcela Ayres, Bernardo Caram, Brad Haynes, Christopher Cushing Organizations: Finance, Reuters, Sao Paulo, leftist Workers Party, Executive, Thomson Locations: BRASILIA, Brazil, Brasilia, Sao, United States

☆ Country Garden says founder, board chairperson at work, haven't left China
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 19 (Reuters) - Country Garden's founder and chairperson of the board are at work as usual, the debt-laden Chinese property developer said on social media on Thursday, denying online reports of the pair leaving the country. Founder Yeung Kwok Keung quit Country Garden's board in March and daughter Yang Huiyan became chairperson. Country Garden on Wednesday was due to pay a $15 million coupon payment on a bond due September 2025, but two bondholders told Reuters they were yet to receive it. On Wednesday, it said it was unlikely to be able to meet most of its upcoming offshore debt payments. Country Garden has almost $11 billion of offshore bonds outstanding.

Persons: Yeung Kwok Keung, Yang Huiyan, Yeung, Liz Lee, Scott Murdoch, Kim Coghill, Christopher Cushing Organizations: Reuters, Thomson Locations: BEIJING, Shanghai

☆ US House lawmaker receives death threats after voting against Jordan for speaker
▼ + stars: | 2023-10-18 | by ( Moira Warburton | ) www.reuters.com time to read: +2 min

Rep. Mariannette Miller-Meeks, R-Iowa, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing on Capitol Hill in Washington, U.S., May 19, 2021. Susan Walsh/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - U.S. Representative Mariannette Miller-Meeks has received "credible death threats," she said in a statement on Wednesday, after voting against Representative Jim Jordan for speaker of the U.S. House of Representatives. Since then, Miller-Meeks said in a statement, she has received "a barrage of threatening calls" in addition to multiple death threats. "I did not stand for bullies before I voted for Chairwoman Granger and when I voted for Speaker designee Jordan, and I will not bend to bullies now." "We condemn all threats against our colleagues and it is imperative that we come together," Jordan said in a post on X, formerly known as Twitter.

Persons: Mariannette Miller, Meeks, Susan Walsh, Jim Jordan, Jordan, Miller, Kay Granger, Granger, designee Jordan, Mario Diaz, Moira Warburton, Noeleen Walder, Christopher Cushing Organizations: Capitol, Rights, U.S . House, Republican, Thomson Locations: Iowa, Washington , U.S, Washington

☆ Biden Mulls $60 Billion for Ukraine, $10 Billion for Israel in Funding Request - Source
▼ + stars: | 2023-10-18 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

By Patricia ZengerleWASHINGTON (Reuters) - U.S. President Joe Biden's administration is considering $60 billion in assistance for Ukraine and $10 billion for Israel in a supplemental spending request he will send to Congress as soon as Friday, a source familiar with the matter told Reuters on Wednesday. Multiple sources familiar with the request told Reuters on Tuesday that Biden was considering a supplemental request of about $100 billion that would include defense aid for Israel, Ukraine and Taiwan, as well as funding for efforts to beef up security on the U.S. border with Mexico. Senator Jim Risch, the top Republican on the Senate Foreign Relations Committee, said he was not aware of the $100 billion figure, except from news reports. He told a news conference he had heard that the administration was considering $10 billion for Israel. Several sources said on Wednesday that Biden has not settled on a final figure, and the breakdown has not been communicated to Congress.

Persons: Patricia Zengerle WASHINGTON, Joe Biden's, Biden, Jim Risch, Patricia Zengerle, Nandita Bose, Christopher Cushing Organizations: Israel, Reuters, Wednesday, Republican, Senate Foreign Relations, Administration, U.S Locations: Ukraine, Washington, Israel, Taiwan, U.S, Mexico

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