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Air quality dips in Delhi ahead of winter every year, when cold air traps pollutants from a variety of sources including vehicles, industries, construction dust, and agricultural waste burning. The project, estimated to cost 10 million rupees ($120,000) for 100 square kilometres (38.6 square miles), would involve spraying into clouds a mix of salts that include silver iodine, Agrawal said. "We don't expect that big a cloud that will cover entire Delhi, but a few hundred kilometres would be good," he told Reuters. The air quality index in the city was 506 early on Thursday, which is categorised as "hazardous" by Swiss group IQAir. Several countries have used cloud seeding to produce rain, improve air quality and water crops in time of drought, including Mexico, the United States, China, Indonesia and Malaysia.
Persons: Anushree, Manindra Agrawal, Agrawal, Gufran Beig, SAFAR, Beig, Shivam Patel, Mark Potter Organizations: REUTERS, Indian Institute of Technology, Reuters, Thomson Locations: New Delhi, India, DELHI, Delhi, Kanpur, Punjab, Haryana, Mexico, United States, China, Indonesia, Malaysia, New Mexico
It also expects total revenue to increase by a mid single-digit percentage, compared with low-to-mid single-digit growth previously. For the third consecutive quarter, strong sales of AstraZeneca's blockbuster cancer treatments and healthy demand for its drugs in emerging markets offset the loss of sales of its COVID-19 vaccine and therapy. The results add to a string of strong quarters for Britain's biggest company by market capitalisation - worth 159 billion pounds ($195 billion) - bolstered by a strong pipeline of drugs. It said that in the first nine months of 2023, nine medicines delivered more than $1 billion in revenue. Excluding sales of its COVID-19 products, third-quarter sales rose 12% to $2.96 billion in emerging markets on a constant currency basis.
Persons: Phil Noble, China's, Maggie Fick, Eva Mathews, Nivedita Bhattacharjee, Mark Potter Organizations: AstraZeneca, REUTERS, Britain's, Thomson Locations: Macclesfield, England, China, London, Swedish, Bengaluru
The company is considering options including a full or partial sale to another private equity firm, one of the people added. In the event of a sale, the business could be valued at more than 500 million euros, this person added. Deliberations are at an early stage and a sale process may not occur, said the people, who declined to be named because the talks are not public. Montefiore and Federation Studios declined to comment. A sale process for Spanish broadcasting and sports rights group Mediapro is also underway, according to Reuters.
Persons: Isabel Marant, Pascal Breton, Breton . Montefiore, Amy, Jo Crowley, Anousha Sakoui, Mark Potter Organizations: France's Federation Studios, des, Federation Studios, Montefiore Investment, Breton . Montefiore and Federation Studios, Vertigo Films, Reuters, Federation, Thomson Locations: Paris, Britain's, Rome, All3Media, Los Angeles, Madrid, London, Berlin, Cologne, Tel, Aviv
KYIV, Nov 9 (Reuters) - Ukraine told Western allies on Thursday that giving it the interest accrued from frozen Russian assets would not be enough to compensate for damage sustained by the war and that it hoped to receive the assets in full. European Commission President Ursula von der Leyen said last month the Commission was working on a proposal to pool some of the profits derived from frozen Russian state assets to help Ukraine and its post-war reconstruction. She said the value of frozen Russian sovereign assets was around 211 billion euros ($223 billion), noting the bloc had decided that Russia must pay for Ukraine's reconstruction. Iryna Mudra, Ukraine's deputy justice minister, told Reuters Kyiv's partners were considering introducing a tax on income or investment of frozen Russian assets, an idea she said Kyiv welcomed but saw as insufficient. If we use only interest from all (this) frozen money, we can close about a half of this gap."
Persons: Russia's, Ursula von der Leyen, Volodymyr Zelenskiy, Pavel Polityuk, Mark Potter Organizations: Western, Reuters, Reuters NEXT, Thomson Locations: Ukraine, Russia, Kyiv, Ukrainian
REUTERS/Chris Helgren Acquire Licensing RightsNEW YORK, Nov 8 (Reuters) - Citigroup Inc (C.N) has agreed to pay $25.9 million to settle U.S. Consumer Financial Protection Bureau (CFPB) charges it intentionally discriminated against credit card applicants who the bank identified as Armenian-American based on their last names. The CFPB also said bank employees lied to applicants by giving them fake reasons for denials, and were instructed not to discuss the discrimination in writing or over the phone. According to a consent order, some employees referred to card applicants they suspected were of Armenian descent as "Armenian bad guys" or the "Southern California Armenian Mafia." The payment includes a $24.5 million civil fine and $1.4 million of restitution to card applicants, for violations of the federal Equal Credit Opportunity Act. Citigroup apologized, saying it had been trying to thwart an Armenian fraud ring in California but that a "small number" of employees circumvented its fraud detection protocols.
Persons: Chris Helgren, Rohit Chopra, Chopra, Biden, Jonathan Stempel, Tatiana Bautzer, Douglas Gillison, Chizu Nomiyama, Mark Potter Organizations: Citigroup Inc, Citi, REUTERS, Consumer Financial Protection Bureau, Citigroup, Southern California Armenian Mafia, Credit, Act, Thomson Locations: Toronto , Ontario, Canada, Glendale , California, Armenia, United States, Southern California, California, York, New York, Washington
REUTERS/Ken Cedeno/Pool/File Photo Acquire Licensing RightsDUBLIN Nov 8 (Reuters) - A rise in geopolitical tensions across the world could aggravate already subdued growth in Europe and China and the spillover may alter the path of the U.S. economy, Federal Reserve Governor Lisa Cook said on Wednesday. "We are not only watching subdued growth, we're watching the geopolitical tensions that we're all talking about, and that could change the outlook both in the United States and the global economy." Cook added that geopolitical tensions may in particular destabilize commodity markets and access to credit in the current higher interest rate environment. "Any shock could make the situation worse that we're already (in)... and could be destabilizing to commodity markets, could be destabilizing to the system of credit," Cook said. "More broadly, escalation of geopolitical tensions could lead to lower economic activity and increased fragmentation of global trade flows and financial intermediation, raising financing and production costs and contributing to more sustained supply chain challenges and inflationary pressures," Cook said.
Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, We're, Padraic Halpin, Conor Humphries, Ann Saphir, Lindsay Dunsmuir, Leslie Adler, Mark Potter Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, DUBLIN, Federal, Central Bank of Ireland, Thomson Locations: Michigan, Washington ,, Europe, China, U.S, Dublin, United States, Ukraine, Russia, East, San Francisco
"Monetary policy is appropriately tight and needs to remain so in 2024," Kammer told a news conference. "For all intents and purposes, (the deposit rate) should be held at that level or close to that level throughout 2024." Kammer warned the ECB against cutting rates too soon because that would require even more costly policy tightening later on. While the IMF sees price growth back at target in 2025, an exceptionally tight labour market could push this date back to 2026, it warned. Real wages also have some way to go catch up with inflation and this could also keep up the price pressure, the IMF said.
Persons: Ralph Orlowski, Alfred Kammer, Kammer, Balazs Koranyi, Mark Potter Organizations: European Union, European Central Bank, REUTERS, Rights, International Monetary Fund, ECB, IMF's European Department, IMF, Thomson Locations: Frankfurt, Germany, Gaza
M&S shares soar as first-half profit smashes forecasts
  + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com   time to read: +3 min
SummaryCompanies First-half profit up 75%Cautions second half won't be as strongDividend restoredShares up 10%LONDON, Nov 8 (Reuters) - Marks & Spencer (M&S) expects full-year profit to leap more than 30% after an overhaul of its food, fashion and supply chain helped the British retailer smash first-half forecasts, sending its shares soaring on Wednesday. First-half profit jumped 75%, the dividend was reinstated as promised, and the company said shoppers were already snapping up its Christmas ranges. It now expects analysts' consensus forecast for annual profit to rise to 640 million pounds ($785 million) from 575 million pounds currently, versus 482 million pounds in 2022/23. M&S reported profit of 360.2 million pounds for the six months to Sept. 30, versus analysts' average forecast of 276 million. As flagged in May, M&S restored its dividend with a 1 pence interim payout, its first since 2019/20.
Persons: Spencer, Ian Lance, Stuart Machin, Dylan Martinez, Peel Hunt, James Davey, Kate Holton, Mark Potter Organizations: S's, Reuters, REUTERS, Revenue, Peel, Thomson Locations: British, Redwheel, Marks, Spencer, Hempstead Valley, Gillingham, Britain
After getting battered for most of 2023, emerging market (EM) currencies have made modest gains against the dollar after the Federal Reserve held interest rates steady last week and data suggested the U.S. economy might finally be slowing. That dollar weakening trend was likely to hold in the near-term as a majority of analysts in the Nov. 3-7 Reuters poll expected the dollar to trade lower by year-end. "So it's difficult to see the EM currencies recoup some of the sharp losses that we've seen in the last few months. Although EM currencies gained at the beginning of 2023 and investors brimmed with positivity after China's post-COVID reopening, economic performance in the world's second largest economy has been mostly underwhelming. "Easier Fed monetary policy should also take some pressure off select emerging market currencies in the second half of next year," noted Nick Bennenbroek, international economist at Wells Fargo.
Persons: We've, Mitul Kotecha, we've, it's, Nick Bennenbroek, Devayani Sathyan, Anant Chandak, Hari Kishan, Ross Finley, Mark Potter Organizations: Federal Reserve, Reuters, FX, Asia, Barclays, South Korean, Thomson Locations: BENGALURU, JOHANNESBURG, U.S, Brazilian, Wells Fargo
The price valued the company at $223.5 billion, about 26% lower than a valuation a year earlier, the Reuters report said. Last year, ByteDance was valued at $300 billion in a buyback program offered to its non-U.S. employees. The latest $160 price is higher than the $155 price set in an earlier April buyback, the person added. A ByteDance spokesperson confirmed the share buyback plan for employees outside the U.S., saying it aimed to provide liquidity options for staff through such programs. Buybacks allow employees to cash in shares without waiting for the company to list on the stock market.
Persons: Aly, ByteDance, Brenda Goh, Josh YE, Mark Potter Organizations: REUTERS, Rights, Reuters, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONG KONG, United States, U.S, Hong Kong
Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBERLIN, Nov 8 (Reuters) - Siemens Energy (ENR1n.DE) expects more than 1 billion euros ($1.1 billion) in revenues over the medium-term from its hydrogen electrolyser manufacturing business, one of the company's board members said on Wednesday. Anne-Laure de Chammard spoke to journalists on the sidelines of the opening of Siemens Energy's first electrolyser factory in Berlin, a joint venture with France's Air Liquide (AIRP.PA). Asked about the progress of those talks, de Chammard said: "We will provide more information in a later moment." For the electrolyser project that aims to produce electrolyser capacity of up to 3 gigawatts per year, Siemens Energy has received 15 million euros ($16 million) in government funding for research and development, de Chammard said.
Persons: Dado Ruvic, Anne, Laure de Chammard, De Chammard, de Chammard, Riham Alkousaa, Christina Amann, Christoph Steitz, Mark Potter Organizations: Siemens Energy, REUTERS, Rights, Siemens, France's, Thomson Locations: Berlin
Sensor is seen on a vehicle at Aeva Inc, a Mountain View, California-based startup that makes lidar sensors to help self-driving vehicles see the road in an undated handout photo provided September 4, 2020. Courtesy of Aeva Inc/Handout via REUTERS/ File Photo Acquire Licensing RightsNov 8 (Reuters) - Aeva Technologies (AEVA.N) on Wednesday said it has inked a deal to supply May Mobility with a key sensor for its self-driving shuttles. Silicon Valley-based Aeva has developed what is known as a lidar sensor that helps self-driving vehicles gain a detailed, long-range view of the road. Under the deal, Aeva will supply multiple sensors for "thousands" of May Mobility vehicles through 2028, Aeva Chief Executive Officer Soroush Salehian told Reuters in an interview. He said May Mobility will need to rewrite some of its software to use the Aeva sensors but that they will eventually improve the long-range sensing of its shuttles, which are based on Toyota Sienna minivans.
Persons: Cruise, Soroush Salehian, Edwin Olson, Olson, Stephen Nellis, Mark Potter Organizations: Aeva Inc, REUTERS, Aeva Technologies, Mobility, Motors, Japan's Nippon, Telephone, NTT, Toyota, Aeva, Reuters, May Mobility, Toyota Sienna, San, Thomson Locations: , California, Silicon, Michigan, San Francisco
REUTERS/Arnd Wiegmann/File photo Acquire Licensing RightsZAGREB, Nov 8 (Reuters) - Coca Cola HBC said on Wednesday it was temporarily withdrawing batches of two soft drinks from sale in Croatia while the authorities there investigate cases of illness suspected to have been caused by the beverages. Earlier Croatia's state inspection office ordered the local arm of Coca Cola HBC, which distributes Coca-Cola products, to withdraw a batch of Coca-Cola Original Taste 500ml. At the weekend, a young man in the Adriatic town of Rijeka suffered throat injuries after consuming a Romerquelle Emotion drink. The individual is being treated in hospital, Health Minister Vili Beros said on Wednesday, later telling state television HRT that 13 other people across Croatia had also reported symptoms after consuming Coca Cola drinks. Coca Cola HBC said in its statement: "We are working closely with our customers throughout this process".
Persons: Arnd, Vili Beros, Antonio Bronic, Daria Sito, Mark Potter Organizations: REUTERS, Rights, Coca Cola HBC, Health, HRT, Thomson Locations: Glattbrugg, Switzerland, Rights ZAGREB, Croatia, Adriatic, Rijeka
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 8 (Reuters) - HSBC (HSBA.L) plans to launch in 2024 a custody service for storing blockchain-based assets excluding cryptocurrency, the bank said on Wednesday. The service, which is a partnership with Swiss digital asset firm Metaco, will allow institutional clients to store blockchain-based tokens representing traditional financial assets, as opposed to crypto or stablecoins, HSBC said. The bank last year launched a digital asset platform, HSBC Orion, which allows financial institutions to issue blockchain-based versions of financial assets, also known as tokenised securities. HSBC did not give a figure for the size of the market for blockchain-based assets excluding cryptocurrencies. In 2019, HSBC announced a platform called Digital Vault, which allows investors to access digital records of securities bought on private markets.
Persons: Dado Ruvic, Zhu Kuang Lee, Banks, Elizabeth Howcroft, Sinead Cruise, Mark Potter Organizations: HSBC Bank, REUTERS, HSBC, cryptocurrency, Swiss, HSBC Orion, Blockchain, blockchain, Thomson Locations: London
WeWork seeks bankruptcy protectionLIMITED EXPOSUREWeWork's dramatic fall followed lavish predictions about its prospects from SoftBank founder Masayoshi Son, despite immense losses as it grew. Still, it had a credit support deal with the company worth $1.1 billion as of end-June. MST Financial analyst David Gibson said the credit support was significant, but it was not clear how much of it had been withdrawn. SoftBank declined to comment on the credit support. SoftBank owns around 71% of WeWork, which it privately valued at $47 billion at its peak but is now valued at just $44 million.
Persons: SoftBank, Adam Neumann, Neumann, WeWork, Masayoshi Son, Son, David Gibson, Anton Bridge, David Dolan, Miyoung Kim, Mark Potter Organizations: Thomson Locations: TOKYO
EU fine-tunes plan to launch Galileo satellites on SpaceX
  + stars: | 2023-11-07 | by ( ) www.reuters.com   time to read: +2 min
A Falcon 9 rocket lifts off on NASA's SpaceX Crew-7 mission, taking four crew members to the International Space Station (ISS), from the Kennedy Space Center in Cape Canaveral, Florida, U.S., August 26, 2023. REUTERS/Steve Nesius/File Photo Acquire Licensing RightsNov 7 (Reuters) - The European Union has struck a tentative deal to launch four Galileo navigation satellites using Falcon 9 rockets of U.S.-based SpaceX, European officials said on Tuesday, in the latest sign of pressure caused by a gap in European launch capacity. The agreement spans two launches pencilled in for April and July next year, carrying two satellites each, EU Internal Market Commissioner Thierry Breton told reporters in Seville, Spain, following EU ministerial talks on competitivity in space. Breton told a news conference the provisional contract with SpaceX was worth 180 million euros ($191.99 million). The 22-nation European Space Agency, which includes most EU states, last year turned to Elon Musk's SpaceX to launch its Euclid space telescope to survey evidence of dark matter and dark energy in the universe.
Persons: Steve Nesius, Thierry Breton, Breton, Elon, Tim Hepher, Mark Potter, Barbara Lewis Organizations: SpaceX, International Space, Kennedy Space Center, REUTERS, European, Galileo, Internal, U.S, Global, Russian Soyuz, European Space Agency, Thomson Locations: Cape Canaveral , Florida, U.S, Seville, Spain, Italian, Russian, Ukraine, Europe
Market researcher Kantar said annual grocery inflation was 9.7% in the four weeks to Oct. 29, down from 11% in last month's report. The Kantar data provides the most up-to-date snapshot of UK grocery inflation. Kantar said grocery sales in the four weeks to Oct. 29 rose by 7.4% compared with last year. Spending on promotions hit 27.2% of total grocery sales – the highest level since Christmas last year. UK supermarkets' market share and sales growth (%)Source: Kantar($1 = 0.8061 pounds)Reporting by James Davey Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Phil Noble, Kantar, Fraser McKevitt, Rishi Sunak, James Davey, Mark Potter Organizations: REUTERS, Bank of England, Barclays, Thomson Locations: Altrincham, Britain
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - The top U.S. consumer financial watchdog on Tuesday proposed to regulate tech giants' digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack consumer safeguards. In a statement on Tuesday, Chopra said the tech sector had expanded into financial services traditionally provided by the closely regulated banking sector. "Today's rule would crack down on one avenue for regulatory arbitrage by ensuring large technology firms and other nonbank payments companies are subjected to appropriate oversight," he said. Representatives of Big Tech companies have previously highlighted their efforts to protect consumer data. The agency said the rule would also foster competition by ensuring that both traditional financial players and the tech sector were equally subject to the same oversight.
Persons: Dado Ruvic, Block's, CashApp, Rohit Chopra, Chopra, CFPB, Lindsey Johnson, Douglas Gillison, Hannah Lang, Chris Prentice, Matthew Lewis, Mark Potter, David Gregorio Our Organizations: PayPal, REUTERS, Rights, Consumer, Apple, Big Tech, Consumer Bankers Association, Electronic Transactions Association, Thomson Locations: Washington, New York
The U.S. central bank could even be forced to raise rates to ensure the pace of inflation remains on a downward trajectory and does not bounce back, Goldberg said. Markets also imply about an 80% probability the European Central Bank (ECB) will cut rates by April, while the Bank of England (BoE) is seen easing in August. An outlier is Australia's central bank, which is considered likely to resume raising rates at a policy meeting on Tuesday as inflation there stays stubbornly high. The head of the central bank said on Monday it was closer to achieving its inflation target, but it was still not enough to end ultra-loose policy. The drop in the dollar and yields has helped underpin gold, as investors have cautiously turned back to riskier assets.
Persons: Brendan McDermid, Gennadiy Goldberg, Goldberg, Anthony Saglimbene, Saglimbene, We're, BoE, Jerome Powell, Herbert Lash, Wayne Cole, Alun John, Nick Macfie, Will Dunham, Mark Potter, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Wall, Federal Reserve, TD Securities, Dow Jones, Nasdaq, European Central Bank, Bank of England, ECB, The Bank of Japan, ., Germany's, Brent, U.S, West Texas, Thomson Locations: New York City, U.S, Europe, New York, France, Germany, Italy, Spain, Troy , Michigan, Asia, Pacific, Japan, Korea, Saudi Arabia, Russia
REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSummary Saudi Arabia and Russia supply cuts to remain until year-endChina's refinery throughput slows from record levelsEuro zone recession fears amplified by PMI dataHOUSTON, Nov 6 (Reuters) - Oil prices edged higher on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. Russia also announced it would continue its additional voluntary cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December. Oil prices rebounded after both benchmarks lost about 6% in the week to Nov. 3, as supply concerns driven by Middle East tensions eased. A weaker dollar also helped oil prices. Lower borrowing cost is likely to boost spending and demand for crude oil.
Persons: Agustin Marcarian, John Kilduff, Giovanni Staunovo, Huw Pill, Robert Harvey, Florence Tan, Colleen Howe, Deepa Babington, Mark Potter, Christina Fincher, Bill Berkrot Organizations: REUTERS, PMI, HOUSTON, Brent, U.S, West Texas, Saudi, Investors, Bank of England, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, New York, OPEC, Gaza, U.S, China, Europe
Hopes for lower borrowing costs overnight helped shares in Asia, which missed out on Friday's rally that was inspired by the U.S. jobs data. DOLLAR DROPSTwo-year Treasury yields , which reflect interest rate expectations, rose 5.9 bps to 4.891% after falling 18 bps last week. The recent retreat in Treasury yields pulled the rug out from under the dollar last week. The dollar index, a measure of the U.S. currency against six others, was steady at 105.07 after sliding 1.4% last week. U.S. crude rose 1.73% to $81.90 per barrel and Brent was at $86.07, up 1.39% on the day.
Persons: Issei Kato, Gennadiy Goldberg, Goldberg, BoE, Samy Chaar, Jerome Powell, Brent, Herbert Lash, Wayne Cole, Alun John, Nick Macfie, Will Dunham, Mark Potter Organizations: REUTERS, Wall, Federal Reserve, TD Securities, Dow Jones, Nasdaq, European Central Bank, Bank of England, Lombard, ECB, The Bank of Japan, ., Palestinian, Hamas, Thomson Locations: Tokyo, Japan, Europe, New York, U.S, Asia, Pacific, Korea, Saudi Arabia, Russia, East, Israel, Gaza
Dollar extends drop, still vulnerable after Fed
  + stars: | 2023-11-06 | by ( Samuel Indyk | ) www.reuters.com   time to read: +4 min
The dollar index was hovering around a 6-1/2 week low of 104.84, after falling around 1.4% last week. "You could still see a somewhat weaker dollar in the short-term, but if the (euro-dollar) rally continues it needs to get some fuel from somewhere." JPMorgan analysts say a sustained dollar sell-off would need signs of improvement in the euro zone, China and other regions, which it says are "still tenuous". The latest growth and inflation data from the euro zone and manufacturing surveys from China bear that out. Euro zone recession fears hardened on Monday after a survey showed a downturn in business activity accelerated last month as demand in the services sector weakened further.
Persons: Dado Ruvic, Tina Teng, Dane Cekov, Adrian Prettejohn, Jerome Powell, Nordea's Cekov, Sterling, bitcoin, Samuel Indyk, Rae Wee, Vidya, Kirsten Donovan, Mark Potter Organizations: REUTERS, U.S, Federal, Aussie, CMC Markets, JPMorgan, Economics, European Central Bank, Bank of Japan, Thomson Locations: Auckland, China, U.S
Of those to set a target, just 37% had one that covered their Scope 3 emissions, or those tied to a company's value chain. "A clear line in the sand on net zero has surfaced. Countless net zero targets are credibility light, but now we can say for certain that most of the world's largest listed companies are on the right side of the line on net zero intent," said John Lang, Project Lead, the Net Zero Tracker. As well as companies, the Net Zero Tracker tracks pledges made by nations, states and regions, and cities using machine and human data analysis. Alongside Oxford Net Zero, the consortium includes The Energy & Climate Intelligence Unit (ECIU); Data-Driven EnviroLab (UNC) and the NewClimate Institute.
Persons: Wolfgang Rattay, John Lang, Simon Jessop, Mark Potter Organizations: REUTERS, Nations, Dubai LONDON, Oxford University, Dubai, Oxford, The, Climate Intelligence, UNC, NewClimate Institute, Thomson Locations: Niederaussem, Germany, Dubai
France says Ariane 6 accord calls for public aid, 11% cost cuts
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +2 min
[1/2] General view of Ariane 6, Europe's next-generation space rocket, production line of Ariane Group in Bremen, Germany, February 19, 2019. The deal between Europe's three leading launch nations also clarifies usage of the European spaceport in French Guiana and opens up competition to future launchers, Le Maire said. A separate statement by France, Germany and Italy said Avio's (AVI.MI) Vega C would receive up to 21 million euros in public support. "This is a major success and a decisive point in European space history. It preserves European unity on the question of access to space," Le Maire told reporters following talks between members of the 22-nation European Space Agency (ESA).
Persons: Europe's, Fabian Bimmer, Bruno Le Maire, Le Maire, Safran, Avio's, Vega, Tim Hepher, Charlotte Van Campenhout, Mark Potter Organizations: Ariane, REUTERS, Rights, French Finance, Airbus, European Space Agency, ESA, Thomson Locations: Bremen, Germany, France, Italy, Guiana
The naira has hit successive record lows on the black market, where it trades freely, as excess demand on the official market gets funnelled to the unofficial market. The naira crossed the 1,000 naira mark on the black market on Sept. 26, the day newly-appointed central bank governor Olayemi Cardoso appeared before the Nigerian senate for his confirmation hearing. The central bank has not intervened on the official market since October, helping accelerate the naira's slide on the black market. The currency hit a record low of 1,300 naira per dollar on the black market, a month after it crossed the 1,000 naira mark, amid thin trading volumes on the parallel market and dollar shortages on the official market. On the official market, the naira was trading at 884.53 to the dollar at 1200 GMT.
Persons: Afolabi, firmed, Olayemi Cardoso, Cardoso, Wale Edun, Chijioke, Mark Potter Organizations: REUTERS, Rights, Finance, Thomson Locations: Rights ABUJA, Nigeria
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