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☆ OECD publishes treaty that would replace national digital taxes
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +3 min

Ian Langsdon/Pool via REUTERS/File Photo Acquire Licensing RightsPARIS, Oct 11 (Reuters) - The Organisation for Economic Cooperation and Development (OECD) published a multilateral treaty on Wednesday that would replace a hodge-podge of national digital services taxes if ratified by enough countries. If ratified, the treaty requires that countries that have, or are planning, national digital services taxes drop them. Washington is particularly sensitive to that issue as many of such taxes were put in place to target big U.S. digital companies such as Google, Amazon and Apple. To enter into force, the 30 countries home to at least 60% of the affected multinational companies have to ratify the treaty, which means that the U.S. has to be on board. OECD head of tax Manal Corwin said failure to ratify the text could lead to "grave consequences" and not only because it could trigger a proliferation in the use of digital services taxes and trade retaliation.

Persons: Antony Blinken, Mathias Cormann, Ian Langsdon, Corwin, Leigh Thomas, Mark Potter Organizations: Organization for Economic Cooperation, Development, Rights, Economic Cooperation, Apple, OECD, Thomson Locations: OECD's, Paris, France, United States, U.S, Washington

☆ House Republicans had their cell phones confiscated while they voted on a new speaker
▼ + stars: | 2023-10-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

House Republicans voted on Wednesday to nominate Rep. Steve Scalise to be the next speaker. As they left, lawmakers had to wave pieces of paper with numbers on them to get their phones back. AdvertisementAdvertisementHouse Republicans' cell phones were confiscated as they decided on who should be second in line to the presidency. During a conference meeting on Wednesday overseen by current House Conference Chair Rep. Elise Stefanik of New York, Republicans nominated House Majority Leader Steve Scalise to be their party's choice for speaker of the House. The House is set to begin voting on a new speaker at 3pm Wednesday, and it remains unclear how long that will take.

Persons: Steve Scalise, —, Elise Stefanik, Kevin McCarthy, Scalise, Jim Jordan of, Donald Trump, Marjorie Taylor Greene, Georgia, Marjorie Taylor Greene 🇺🇸 ( Organizations: Service, — Locations: New York, Jim Jordan of Ohio

☆ UK inquiry starts hearings into Afghan extra-judicial killings' claims
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

An armed police officer patrols near the Ministry of Defence in London, Britain May 11, 2016. REUTERS/Neil Hall/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - An inquiry investigating allegations that British special forces carried out dozens of extra-judicial killings in Afghanistan a decade ago will begin hearing evidence in public on Monday. The independent inquiry was ordered by Britain's defence ministry last December after a BBC TV documentary reported that soldiers from the elite Special Air Service (SAS) had killed 54 people in suspicious circumstances. "The bereaved families look to the inquiry to fearlessly uncover the truth of the deaths of their loved ones and to ensure that those responsible are held to account." While the hearings will begin in public, some of the evidence relating to special forces will be restricted on national security grounds.

Persons: Neil Hall, Tessa Gregory, Leigh, Charles Haddon, Cave, Mansour Aziz, Leigh Day, Michael Holden, William Maclean Organizations: Ministry of Defence, REUTERS, BBC, Special Air Service, SAS, Thomson Locations: London, Britain, Afghanistan, Haddon

☆ France blocks US takeover of Canada-owned French nuclear valve makers
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 6 (Reuters) - France blocked a deal that would have seen the takeover of two Canadian-owned French maker of valves used in nuclear reactors because it did not think commitments made by U.S. bidder Flowserve were sufficient, a finance ministry source said. Flowserve, which makes pumps and valves, said on Thursday it was dropping its $245 million takeover of Montreal-based Velan, whose French subsidiaries Segault and Velan SAS make valves used in nuclear plants, submarines and aircraft carriers. The French government has extensive powers to vet proposed takeovers of French companies that it considers to be strategically sensitive, though outright rejections are rare. Flowserve Chief Executive Scott Rowe said on Thursday that the firm had sought to address all of the French concerns. Some French senators had aired concern about the takeover, in particular that it could mean the U.S. government could order Flowserve to hand over information from its French subsidiaries.

Persons: Bruno Le Maire, Scott Rowe, government's, Rowe, Emmanuel Macron, Leigh Thomas, Alexander Smith Organizations: U.S, Flowserve, Velan SAS, Thomson Locations: France, Montreal

☆ What Macron means when he says he wants to 'take back control' of French power prices
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +6 min

PARIS, Oct 4 (Reuters) - French President Emmanuel Macron said last week his government would "take back control" of electricity prices by the end of the year, without spelling out what steps he would take. "There is a point that is key for our competitiveness, and we will announce it in October, and that is to take back control of electricity prices," Macron said. "We'll be able to announce in October electricity prices that are in line with our competitiveness," he said, adding this would apply to households and businesses. However, French officials say Germany is undermining a traditional French strength due to fears cheap nuclear electricity could provide French businesses with a competitive advantage over German companies. Under the current system, called marginal pricing, European electricity prices are linked to the most expensive power producing asset.

Persons: Emmanuel Macron, Macron, We'll, Bruno Le Maire, Michel Rose, Elizabeth Pineau, Benjamin Mallet, Leigh Thomas, Forrest Crellin, Kate Abnett, Julia Payne, Mark Potter Organizations: Union, EDF, EU, European Commission, French Finance, Reuters, Thomson Locations: Ukraine, Paris, France, Brussels, Germany, Russia, Europe, Bulgaria, Croatia, Czechia, Hungary, Poland, Romania, Slovakia, Slovenia, Luxembourg, Austria, Spain

☆ Deal targeted by probe involving LVMH's Arnault was legal, lawyer says
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

PARIS, Sept 30 (Reuters) - A financial transaction under investigation in France involving LVMH owner Bernard Arnault was carried out in full respect of the law, his lawyer said on Saturday. The Paris public prosecutor's office confirmed on Friday that it is investigating financial transactions involving Arnault and Russian businessman Nikolai Sarkisov. In France, a prelimary investigation does not necessarily imply wrongdoing by those concerned, for whom the presumption of innocence applies. An unidentified Tracfin official told Le Monde the transactions involving Arnault and Sarkisov, who both acted through a complex web of legal entities, could have been aimed at concealing the origins of the funds used. Reporting by Mimosa Spencer; writing by Leigh Thomas; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Bernard Arnault, Nikolai Sarkisov, Sarkisov, Cheval, Jacqueline Laffont, Le, Mimosa Spencer, Leigh Thomas, Christina Fincher Organizations: Reuters, Le Monde, Thomson Locations: France, Paris, Russian, Le, Cheval Blanc, Courcheval

X, formerly known as Twitter, sued Atlas Exploration in San Francisco Superior Court on Thursday in a complaint alleging breach of contract. X has faced an array of legal actions over unpaid rent and other invoices following Musk's $44 billion buyout last October. In one case, the owner of X's main office at 1355 Market Street in San Francisco sued X for more than $3.1 million in unpaid rent. Britain's Crown Estate, which manages the property portfolio belonging to the monarchy, in January filed claims against X over alleged unpaid rent on its London headquarters. The case is X Corp v Atlas Exploration Inc, San Francisco Superior Court, No.

Persons: Carlos Barria, Elon, X, Atlas, Kevin Hill, Hill, Jonathan Hawk, Mike Scarcella, Leigh Jones, Chris Reese Organizations: REUTERS, Elon Musk's X Corp, San, Twitter, Atlas Exploration, San Francisco Superior Court, Inc, X, X Corp, Exploration Inc, San Francisco Superior, Thomson Locations: San Francisco , California, U.S, San Francisco, San Francisco's, Britain's, London

The U.S. consumer agency, which enforces federal antitrust law, and 17 states filed their lawsuit against Amazon in Seattle federal court on Tuesday, asking a U.S. judge to consider an injunction and other penalties to combat alleged unlawful conduct. The FTC's lawsuit is related to but broader than a series of private consumer cases filed in recent years against Amazon that are pending in the same U.S. federal court. The private antitrust cases offer an early window into some of the legal arguments Amazon could be expected to make to challenge the FTC's lawsuit. Generally speaking, U.S. judges are "wary of using antitrust law to punish low-pricing behavior," said antitrust scholar Sean Sullivan of the University of Iowa's law school. Sullivan said it is not always a clear line between "good low pricing" — based on market competition — and "bad low pricing" that helps a company acquire or maintain market power.

Persons: Mike Segar, David Balto, Diane Hazel, Foley, Lardner, Hazel, Tom Cotter, David Zapolsky, Zapolsky, Lina Khan, Ricardo Martinez, Martinez, George W, Bush, Sean Sullivan, Sullivan, Mike Scarcella, Leigh Jones Organizations: REUTERS, U.S . Federal Trade, Amazon.com, Amazon, Reuters, FTC, U.S, University of Minnesota Law School, District, University of, Thomson Locations: Manhattan, New York City, U.S, Seattle, Washington, Mt, Rainier

Qualcomm has denied any wrongdoing and had asked the judge to reject the consumers' claims. The consumers' case was in Corley's court following a 9th Circuit ruling in 2021 that struck down an order certifying a nationwide consumer class action. In January, Corley dismissed core antitrust elements of the plaintiffs' claims but let the case move forward. The consumers' lawyers told Corley that "Qualcomm turns a blind eye to the massive evidentiary record" backing the consumers' allegations of exclusive dealing. The case is In re: Qualcomm Antitrust Litigation, U.S. District Court, Northern District of California, No.

Persons: Dado Ruvic, Jacqueline Scott Corley, Corley, Joseph Cotchett, Kalpana Srinivasan, Susman Godfrey, Robert Van, Van, Gary Bornstein, Richard Taffet, Morgan, Lewis, Bockius Read, Mike Scarcella, Leigh Jones Organizations: Qualcomm, REUTERS, Tuesday, U.S, Apple, U.S . Federal, Circuit, Qualcomm Antitrust Litigation, Court, Northern District of, McCarthy, Thomson Locations: California, San Francisco, San Diego, Northern District, Northern District of California, Cotchett, Pitre, U.S

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicIn one of the most serious political corruption cases in recent history, federal prosecutors have accused a senior U.S. senator of trading the power of his position for cash, gifts and gold. Tracey Tully, who covers New Jersey for The Times, tells the story behind the charges against the senator, Robert Menendez, and his wife, Nadine, and describes the role played by Wael Hana, an Egyptian American businessman at the center of the allegations.

Persons: Tracey Tully, Robert Menendez, Nadine, Wael Hana Organizations: Spotify, The Times Locations: U.S, New Jersey, Egyptian American

Yelp (YELP.N) and News/Media Alliance, which are not defendants in the litigation but are targets of Google's subpoenas, argue that law firm Paul, Weiss, Rifkind, Wharton & Garrison should be disqualified. A spokesperson for Paul Weiss said the "firm's representation of Google is appropriate in all respects." Yelp said it hired Paul Weiss in 2016 for counsel on antitrust issues. The Justice Department's antitrust head, Jonathan Kanter, was on the Paul Weiss team representing Yelp. New York-based Paul Weiss, which has about 1,000 lawyers globally, is also representing Amazon.com in various antitrust lawsuits.

Persons: Gonzalo Fuentes, Paul, Weiss, Garrison, Leonie Brinkema, Paul Weiss, Yelp, Jonathan Kanter, Charles Molster III, Brandon Kressin, Brinkema, Kanter, Mike Scarcella, Leigh Jones, Rami Ayyub Organizations: Google, Viva Technology, Porte de, REUTERS, Media Alliance, Yelp, U.S, Google LLC, Eastern, of, Thomson Locations: Porte, Paris, France, U.S, Rifkind, Wharton, New York, States, of Virginia

☆ ECB needs to be cautious about doing too much on rates - Villeroy
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsPARIS, Sept 25 (Reuters) - The European Central Bank has reached the point where it needs to be wary of raising interest rates too high and should try to avoid a hard landing of the economy, ECB policymaker Francois Villeroy de Galhau said on Monday. The ECB raised its main interest rate to a record high 4% this month after 10 successive hikes, but signalled a pause in October. Villeroy said that the risk of doing too much - and possibly triggering a recession - and the risk of doing too little were now symmetrically balanced after the string of rate hikes. If the ECB did too much, the central bank could run the risk of having to rapidly reverse course, he told a conference at the French central bank, which he also heads.

Persons: Heiko Becker, Francois Villeroy de Galhau, Villeroy, Leigh Thomas, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, ECB, Thomson Locations: Frankfurt, Germany

☆ An amateur astronomer caught one of the brightest fireballs ever seen on Jupiter. Watch the rare video footage.
▼ + stars: | 2023-09-23 | by ( Maiya Focht | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

About 14 seconds into the video below, you can see a bright flash appear in Jupiter's southern hemisphere. AdvertisementAdvertisementOne of the brightest, biggest Jupiter fireballs ever recordedKo Arimatsu, an astronomer at Kyoto University, confirmed to The New York Times that there were six reports of this flash on August 28. AdvertisementAdvertisementA fragment of the Shoemaker-Levy 9 comet impacts Jupiter’s night side in 1994. Jupiter is the 'vacuum cleaner of the solar system'As the largest planet in our solar system, by far, Jupiter has a powerful gravity that pulls in comets and asteroids. In fact, Jupiter's appetite for asteroids and comets has earned it the nickname "vacuum cleaner of the solar system," according to NASA.

Persons: Tadao Ohsugi, It's, Arimatsu, Shoemaker, Levy, Peter Vereš, NASA's OSIRIS, NASA's, Leigh Fletcher Organizations: Service, Kyoto University, The New York Times, TNT, NASA, ESA, Space Science Institute, Jupiter, JPL Arimatsu, Center for Astrophysics, Harvard & Smithsonian, NASA's Goddard Space Flight, University of Arizona, University of Leicester, Times Locations: Wall, Silicon, Japan, Boulder, Colo, Siberia

☆ This storm chaser captures stunning photographs of extreme weather
▼ + stars: | 2023-09-20 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +5 min

Ad FeedbackThough she is an accountant by trade, Sarah Hasan Al-Sayegh calls herself the first Kuwaiti-Arab female storm chaser. “Storm chasing made me see the world more,” she says. Al-Sayegh recalls that on May 31, 2016, she and fellow storm chaser Mike Olbinski came across a huge storm structure near Lamesa, Texas. She now hopes to expand her meteorological knowledge and raise awareness around climate change. “I just hope to be able to put that message to everybody through my photography and through my storm chasing,” Al-Sayegh says.

Persons: Sarah Hasan Al, Sayegh, ”, “, sandstorms, Storm Daniel, Mike Olbinski, “ Don’t, ” Al Organizations: CNN, UN, United Arab, Kuwait City Locations: Kuwaiti, Kuwait, East, North Africa, Iran, Iraq, Syria, Dubai, Libya, Saudi Arabia, United Arab Emirates, Qatar, Al, Lamesa , Texas, Gulf

☆ Explainer: How France aims to discourage buying of Chinese EVs
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

WHY IS FRANCE REVISING ITS EV BONUS ELIGIBILITY RULES? However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. Because Chinese industry generally relies heavily on coal-generated electricity, the criteria are likely to put the bonus out of Chinese carmakers' reach. But French car buyers will have to wait because Stellantis' (STLAM.MI) Slovakia-made e-C3 city car and Renault's (RENA.PA) France-made R5 are not due to hit the market until 2024. The model is currently one of the best-selling electric car's in France with the Tesla Y, Peugeot's e-208, Fiat's 500e, the Megane eTech and MG4.

Persons: Angelika Warmuth, EVs, Emmanuel Macron, Stellantis, MG4, Lorraine Morard, Luca De Meo, Tesla, BYD, Gilles Guillaume, Leigh Thomas, Sharon Singleton Organizations: Company, REUTERS, Rights, Reuters, SAIC, P Global, Renault, Thomson Locations: Munich, Germany, France, China, Europe, FRANCE, French, Slovakia, Dacia Spring

☆ OECD raises 2023 global growth outlook, cuts 2024
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

While that was an upgrade from 2.7% in the OECD's June outlook, global growth was expected to slow to 2.7% in 2024 - down from its estimate of 2.9% in June. Reuters GraphicsThe improved U.S. outlook for this year helped offset weakness in China and the euro zone, dragged down by Germany - the only major economy expected to be in recession. In June, the OECD had forecast 5.4% growth this year and 5.1% next year. The OECD cut the euro zone's growth outlook this year to just 0.6% from 0.9% in June, but forecast it would pick up next year to 1.1% - down from 1.5% in June - as Germany returned to growth. Though the growth outlook for next year would mostly be weak, the OECD said central banks should keep interest rates high until clear signs inflationary pressures have subsided.

Persons: Leigh Thomas, Christina Fincher Organizations: OECD, Organisation for Economic Development, Reuters, Thomson Locations: U.S, Paris, China, Germany

☆ ‘Run With Joy and Love’
▼ + stars: | 2023-09-17 | by ( Patricia Leigh Brown | Marlena Sloss | ) www.nytimes.com time to read: +2 min

At “Ready … set … exercise!” Taylor started pacing his fellow runners around the track, the trickiest stretch being a right angle that funnels into a gap between chain link fences. When Taylor started running, “everything connected mentally and spiritually,” he said. Taylor’s return to San Quentin is part of an extraordinary year in his life. He’s one of the subjects of “26.2 to Life: Inside The San Quentin Prison Marathon,” a documentary film by Christine Yoo. “Him getting out shows that just because you’re a lifer doesn’t mean you’re going to be in here forever.”

Persons: ” Taylor, Darren Settlemyer, Taylor, ”, “, Christine Yoo, “ Markelle, Him Organizations: San Quentin Prison Locations: San Quentin, Santa Barbara

☆ Tuohy family denies Michael Oher accusations, says NFL player was paid for 'The Blind Side' story, court documents say
▼ + stars: | 2023-09-15 | by ( Jennifer Henderson Eric Levenson | Jennifer Henderson | Eric Levenson | ) edition.cnn.com time to read: +3 min

Oher’s petition says soon after he moved in with the family in 2004, the Tuohys gave him legal papers he thought were necessary for the adoption. Conservatorship was the tool chosen to accomplish this goal.”“There was never an intent to adopt him,” the Tuohy’s response states. The Tuohys say it is “demonstrably false” that Oher only found out in February 2023 that he wasn’t adopted. The Tuohys say all the money received from “The Blind Side” movie has been split equally between Sean and Leigh Anne, their two children and Oher – 20% each. The Tuohys said Oher’s share was paid to them, they paid the taxes for a period of time but wrote Oher a check for his full 20% share.

Persons: Sean, Leigh Anne Tuohy, Michael Oher, Oher, “, ”, Oher’s, Conservatorship, wasn’t, Tuohys, Michael Lewis, Leigh Anne, Don Barrett, Mike, ” Barrett Organizations: CNN, NFL, football “, NCAA, Ole Miss, Mike’s Locations: Tennessee, Oher

☆ Stunning video appeared to show 2 humpback whales trying to save a seal from a pod of orcas, but the seal may have been trying to hide behind the gentle giants
▼ + stars: | 2023-09-14 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

National Geographic captured humpback whales interrupting orcas that were hunting a seal in Antarctica. But then, Gregory said in the video, two humpback whales appeared out of nowhere. AdvertisementAdvertisementWhile killer whales do not pose a direct threat to adult humpback whales, which are much larger than orcas, killer whales do prey on humpback whale calves. While most people believe the humpbacks are swimming over to save the seal, the seal may actually be swimming toward the humpbacks to save itself. Sea lions and seals have been captured hopping onto boats in order to evade killer whales.

Persons: Bertie Gregory, Gregory, Leigh Hickmott, Andrew Trites, Trites, Robert Pitman, Pitman Organizations: Geographic, Service, University of St, Marine Mammal Research, University of British, Biologists, US, Oceanic, Atmospheric Administration, Hakai Magazine Locations: Antarctica, Wall, Silicon, Andrews, Scotland, University of British Columbia, Canada, British Columbia

Lawyers representing the couple also said the Tuohys would enter into a consent order to end the conservatorship. But Oher’s conservatorship was approved “despite the fact that he was over 18 years old and had no diagnosed physical or psychological disabilities,” his petition said. The Tuoys' filing said Oher referred to them as “mom” and dad," and they occasionally referred to Oher as a son. Agents negotiated a small advance for the Tuohys from the production company for “The Blind Side,” based on a book written by Sean Tuohy’s friend Michael Lewis, the couple’s lawyers have said. The attorneys said they estimated each of the Tuohys and Oher received $100,000 apiece, and the couple paid taxes on Oher’s portion for him.

Persons: Michael Oher, Sean, Leigh Anne Tuohy, Oher, Sandra Bullock, Oscar, Oher’s conservatorship, ”, ” “, Tuohys, Sean Tuohy, ” Ole Miss, Ole, Sean Tuohy’s, Michael Lewis, “ Organizations: NFL, Oher, NCAA, University of Mississippi, Ole Miss, Agents, Baltimore Ravens, Tennessee Titans Locations: MEMPHIS, Tenn, Memphis, Tennessee, Mississippi, Carolina

☆ France targets 16 billion euros in savings next year, trims growth outlook
▼ + stars: | 2023-09-14 | by ( Leigh Thomas | ) www.reuters.com time to read: +2 min

REUTERS/Benoit Tessier/file photo Acquire Licensing RightsPARIS, Sept 14 (Reuters) - The French government aims to squeeze 16 billion euros ($17 billion) in savings from its 2024 budget, finance minister Bruno Le Maire said on Thursday as he trimmed France's growth outlook. Le Maire said 10 billion euros in savings would come from scrapping caps on power and gas prices, put in place to soften the pain for households from Europe's energy price crisis. Le Maire said the inflation shock over the last year would further subside, boosting household consumption - the traditional motor of French economic growth. While the government aims to cut spending, it would nonetheless increase some expenditures, with 4 billion euros more earmarked for the interior ministry and the armed forces. A further 7 billion euros has been set aside for environmentally friendly investments due to be presented later this month and financed by removing some of the tax breaks which some industries get on their on fossil fuel use.

Persons: Digital Security Bruno Le Maire, Benoit Tessier, Bruno Le Maire, Le Maire, Leigh Thomas, David Holmes Organizations: Economy, Finance, Industry, Digital Security, Bercy Finance Ministry, REUTERS, Rights, Thomson Locations: Paris, France

☆ German carmaker stocks dip amid China-EV probe dispute
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Alternatively, punitive tariffs on imports from China could accelerate Chinese EV makers' plans to build in Europe, analysts said, raising competition for domestic carmakers. "Volkswagen could gain from lower mass-market competition, but is the most exposed ... premium OEMs ...face the risk of retaliation and might see their China-export plans sent awry," he added. By 1210 GMT, the STOXX Europe 600 Auto (.SXAP) index was down 1.46%, while the broader market was steady. BMW, which exports the iX3 from China and plans to export the Mini from 2024, fell 2.08%, with Mercedes-Benz down 1.56% and Volkswagen down 1.83%. Stocks of carmakers Renault and Stellantis, which are less exposed to the Chinese market than their German counterparts, saw smaller dips of 1.33% and 0.81% respectively.

Persons: Annegret, Emmanuel Macron, Daniel Roeska, Bernstein, Danilo Masoni, Victoria Waldersee, Josephine Mason, Thomas Leigh, Michel Rose, Sharon Singleton, David Holmes Organizations: REUTERS, EV, HK, European Commission, Renault, Volkswagen, BMW, Mercedes, Benz, Porsche, carmakers Renault, Thomson Locations: Berlin, Germany, Beijing, China, Europe, France

☆ Analysis: Investors call 'peak pessimism' for beaten-up UK stocks
▼ + stars: | 2023-09-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +6 min

"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.

Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows

☆ German economic weakness belies France's outperformance
▼ + stars: | 2023-09-12 | by ( Leigh Thomas | ) www.reuters.com time to read: +4 min

The European Commission said on Monday the two economies were on diverging paths this year with Germany forecast to be in a recession with a 0.4% contraction and France expected to grow 1.0%. With weak construction and declining construction investment weighing on Europe's biggest economy, Germany's outlook was slashed from a previous forecast for 0.2% growth while France was upgraded from 0.7%. The contrasting fortunes of the euro zone's two biggest economies can also be explained by tailwinds working against Germany and headwinds helping France. Germany's gas-hungry chemical industry has seen production fall 18% from 2019 levels while in France it is only 8%, Colombier said. That leaves few props to lend support to French growth going forward other than household savings.

Persons: Jean, Paul Pelissier, Germany's, Mathieu, tailwinds, headwinds, Charles, Henri Colombier, Colombier, Plane, Leigh Thomas, William Maclean Organizations: REUTERS, European, Germany, France's Finance, Thomson Locations: Marseille, Fos, Fos sur Mer, France, Germany, PARIS, Paris

☆ ‘A day that changed history': US marks 22 years since 9/11 attacks
▼ + stars: | 2023-09-11 | by ( Jennifer Peltz | ) www.nbcnews.com time to read: +5 min

Commemorations stretch from the attack sites — at New York's World Trade Center, the Pentagon and Shanksville, Pennsylvania — to Alaska and beyond. But a sense of connection is enshrined in a local memorial incorporating steel from the World Trade Center’s destroyed twin towers. As another way of marking the anniversary, many Americans do volunteer work on what Congress has designated both Patriot Day and a National Day of Service and Remembrance. First lady Jill Biden is due to lay a wreath at the 9/11 memorial at the Pentagon. Educators with a total of more than 10,000 students have registered for access to the free “National Day of Learning” program, which will be available through the fall, organizers say.

Persons: Joe Biden, Eddie Ferguson, Jessica Leigh Sachs, “ We’re, ”, Joe Maurath, Kamala Harris, James Giaccone, Joseph Giaccone, ” James Giaccone, Andrew Siff, “, ” Biden, Republican George W, Bush, Barack Obama, Obama, Jill Biden, Harris ’, Doug Emhoff, Katherine Hostetler Organizations: Trade Center, Pentagon, Washington , D.C, NBC New, Boy Scouts and Girl Scouts, Trade, Congress, of Service, Democrat, Republican, National Park Service Locations: firehouses, New, Shanksville, Pennsylvania —, Alaska, Anchorage, Washington ,, India, Vietnam, Virginia’s Goochland County, NBC New York, New York, Columbus , Indiana, Fenton , Missouri, St, Louis, Jersey's Monmouth, U.S, Fort Meade, Maryland, Pennsylvania, Stoystown

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