DIRS.INFO The most relevant business & tech news

☆ U.S. 'very concerned' about China's dominance as a critical minerals supplier, energy chief says
▼ + stars: | 2024-02-14 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

U.S. Energy Secretary Jennifer Granholm on Wednesday said the country is "very concerned" about China's grip on the global supply chain for critical minerals. China is the undisputed leader in the critical minerals supply chain, accounting for roughly 60% of the world's production of rare earth minerals and materials. "It's one of the pieces of the supply chain that we're very concerned about in the United States. We do not want to be over reliant on countries whose values we may not share," Granholm told CNBC's Silvia Amaro on Wednesday when asked about China's dominance as a critical minerals supplier. "We know all countries want to ensure that we have a critical stockpile of critical minerals and that we are allowed to diversify the supplies of those stockpiles.

Persons: Jennifer Granholm, Granholm, CNBC's Silvia Amaro Organizations: Energy, Wednesday, International Energy, International Energy Agency Locations: China, United States, Paris, France, U.S, Australia, Canada

☆ European Union is considering sanctions on Chinese firms for aiding Russia's war machine
▼ + stars: | 2024-02-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

This pool photograph distributed by Russian state owned agency Sputnik shows Russia's President Vladimir Putin (R) and China's President Xi Jinping heading to a group photo session during the third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on October 18, 2023. The European Union is looking to sanction Chinese firms that it believes have helped Russia circumvent Western penalties, looking to slap measures against these mainland China businesses for the first time since the war began, three EU officials told CNBC. The 27-member bloc is working on a 13th package of sanctions in the wake of Russia's full-scale invasion of Ukraine, which could be ready later this month to mark the second-year anniversary of the war. One of the EU officials, who did not want to be named due to the sensitive nature of the talks, said: "Chinese companies and entities from other third countries, which are involved in supporting Russia to circumvent sanctions" will feature in the next round of measures levied against Russia for its war in Ukraine. Another official said that the 27 EU ambassadors will discuss the proposal at a meeting on Wednesday, adding that "work is ongoing."

Persons: Vladimir Putin, Xi Jinping Organizations: Sputnik, Forum, International Cooperation, of, People, European, CNBC, Russia Locations: Beijing, Russia, China, Ukraine

☆ Angry farmer protests are spreading across Europe — and getting results
▼ + stars: | 2024-02-12 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

But that reputation is now being firmly tested, after it toned down its climate policies following angry farmer protests that are taking place across the continent. The European Commission, the executive arm of the EU, now intends to scrap a plan to halve pesticide use. Speaking to CNBC Thursday, the EU's Agriculture Commissioner Janusz Wojciechowski said he was "happy" about the U-turns because they were not "fully fair." The EU wants to become carbon neutral by 2050. It also wants to cut greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.

Persons: Janusz Wojciechowski, Wojciechowski, Europe's, Alberto Alemanno, Alemanno Organizations: European Commission, EU, CNBC, Paris Business School Locations: H.E.C

VATICAN CITY (AP) — Argentina’s faith and politics came together Sunday as Pope Francis canonized the country’s first female saint with Argentina's libertarian president, Javier Milei, sitting in the front row of St. Peter’s Basilica. The Mass to declare Mama Antula a saint marked the first meeting between the Argentine pope and Milei, who once called Francis an “imbecile” for defending social justice. Milei is to meet privately with Francis on Monday, before also having private talks with Italy’s far-right Premier Giorgia Meloni and the president. “It’s a gift of God that Pope Francis — an Argentine pope, a Jesuit pope — can canonize her,” he said. “But Mama Antula is a saint independent of Francis.”

Persons: Pope Francis, Javier Milei, Mama Antula, Milei, Francis, ”, Francis ’, —, Italy’s, Giorgia Meloni, ” Francis, Moses, “, María Antonia de Paz y Figueroa, Silvia Correale, Mama, Mama Antula's, ” Correale, Ignatius, Jorge Ignacio García Cuerva, Antula, Pope Benedict XVI, Pope Francis — Organizations: VATICAN CITY, Argentine, Associated Press, St, Catholic Church Locations: Peter’s, Argentina, Rome, Israel, Argentine, Jerusalem, Buenos Aires, Uruguay

ACCRA, Ghana (AP) — Seven royal artifacts looted 150 years ago by British colonial forces from Ghana’s ancient Asante kingdom and kept by a United States museum have been returned and presented to the kingdom on Thursday, the latest of a series of stolen treasured items being repatriated to several African countries. After decades of resistance from European and Western governments and museums, the efforts of African countries to repatriate stolen artifacts are paying off with the increasing return of treasured pieces. That was when four of the items were looted while the other three were part of an indemnity payment made by the Asante kingdom to the British, the museum said. All seven items are being returned unconditionally and permanently though the kingdom allowed their replicas to be made, the museum added. “And ever since, as a kid, I had the vision that one day we shall have all these artifacts back to our Asante nation.”

Persons: Otumfuo Osei Tutu, Asante, ”, Kwasi Ampene, Silvia Forni, Samuel Opoku Acheampong, Acheampong Organizations: United, Fowler Museum, University of California, Asante Locations: ACCRA, Ghana, United States, British, Los Angeles, Asanteman, Ghana’s, Kumasi, Asante

☆ Analysis-West Africa's 'Brexit' Moment Spells Trouble for the Region
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +6 min

Ivory Coast alone is home to more than 5 million people from Burkina Faso, Mali and Niger. Earlier this month, Russia and Niger, ruled by a junta since a coup last year, agreed to develop military ties. Russian military personnel flew into Burkina Faso's capital Ouagadougou last week to ensure the safety of the country's military leader. EMPTY THREATECOWAS has responded to a wave of coups in the region since 2020 with sanctions that the juntas have called "illegal and inhumane." "The departure from ECOWAS will have catastrophic consequences for the ability to respond to the many security challenges facing this region," said Abba.

Persons: Bate Felix, David Lewis, Giulia Paravicini, Seidik Abba, Russia's Wagner, Mucahid Durmaz, Verisk Maplecroft, Charlie Robertson, Kwesi Aning, Gilles Yabi, Adama Coulibaly, Nagnouma Keita, Abba, Tiemoko Diallo, Boureima, Silvia Aloisi, Andrew Cawthorne Organizations: Giulia Paravicini DAKAR, West, West African States, Reuters, Islamic, FIM Partners, European Union, ECOWAS, CFA Locations: Mali, Burkina Faso, Niger, Russia, Ivory Coast, Niger . Niger, Nigeria, Paris, Ghana, Togo, Benin, France, United States, Burkina Faso's, Ouagadougou, West Africa, United, London, Bamako, Guinea, China

☆ 'It's the quarter that differs': SEB CEO discuss fourth-quarter earnings
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'It's the quarter that differs': SEB CEO discuss fourth-quarter earningsJohan Torgeby, CEO of SEB, speaks to Silvia Amaro about the Swedish bank's latest earnings.

Persons: SEB, Johan Torgeby, Silvia Amaro Locations: Swedish

☆ Naples: 2000 year-old Roman beach house discovered during building work
▼ + stars: | 2024-01-19 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +4 min

Naples, Italy CNN —A three-year project to build a children’s playground and recreation area south of the Italian city of Naples has unearthed the ruins of a 2000-year-old clifftop beach house. Experts believe it could have once been the opulent residence of Pliny the Elder, the legendary author, naturalist, and commander of the Roman navy fleet stationed there. Courtesy Comune Di BacoliAs well as acting as a lookout point, Pliny’s beach villa would have also likely been used for leisure. On the beach neighboring the newly-discovered villa walls, a large brick ruin had been dubbed the “talking wall” by local residents as, in their view, it proved the one-time existence of a large residence. “The ruins of the Roman villa will be cleaned and cordoned-off with wooden fences,” said Bacoli’s mayor Josi Gerardo Della Ragione.

Persons: Italy CNN —, Pliny the Elder, Bacoli, Simona Formola, “, ”, Formola, tufa, Josi Gerardo Della Ragione Organizations: Italy CNN, Roman, CNN, ” Locations: Naples, Italy, Italian, Ischia, Procida, Bacoli, Misenum, Roman, Vesuvius

☆ Top CEOs fear that volatile supply chains are now just the new normal
▼ + stars: | 2024-01-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Kristian Helgesen | Bloomberg | Getty ImagesDAVOS, Switzerland — Top CEOs are closely following tensions in the Red Sea, warning that this kind of volatility for supply chains is likely here to stay. Houthi rebels from Yemen have attacked commercial vessels traveling in the Red Sea since November. Supply chains were massively disrupted during the pandemic and the subsequent bounce back, given the restrictions and the closure of borders. Tobias Meyer, the CEO of DHL, shared concerns over the new normal for supply chains. "We have an issue in the Panama Canal, we have an issue in the Red Sea.

Persons: Ebba, A.P ., Kristian Helgesen, Jesper Brodin, Brodin, Tobias Meyer Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Ingka, CNBC, Economic, IKEA, DHL Locations: Suez, Egypt, DAVOS, Switzerland, Red, Yemen, Iran, Gaza, United States, Hope, Africa, Asia, Europe, Davos, Panama

☆ American bought an apartment in Spain and made a new life for himself. ‘I have not looked back’
▼ + stars: | 2024-01-18 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +10 min

Of all the cities Coe had toured and lived in during his career, including Hong Kong, Singapore, Seattle and Chicago, he picked laid-back Barcelona, Spain. Matthew Coe bought an apartment in Barcelona in 2021. Jordi FolchRhythm of life in SpainHe has quickly picked up the daily rhythm and easy-going habits of Spain. Yet the pros of living in Spain by far outnumber the cons, Coe says. In Spain, he’s eligible for national health care, having contributed through Social Security payments and having lived in Spain for more than 5 years.

Persons: Spain isn’t, you’ve, Matthew Coe, Coe, ” Coe, Jordi Folch “, ” Coe “, Matthew Coe Coe, “, Matthew Coe Barcelona, Jordi Folch, ”, it’s, He’s Organizations: CNN, Spanish Consulate, Social Locations: Spain, Wenatchee , Washington, Hong Kong, Europe, Singapore, Seattle, Chicago, Barcelona, Turkey, Italy, Greece, Spanish, Valencia, Madrid, Catalunya, United States, Pacific Northwest, overtourism

☆ Pushback against Trump plays into the hands of the Chinese, Austria minister says
▼ + stars: | 2024-01-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Republican presidential candidate and former U.S. President Donald Trump gestures during a campaign rally ahead of the New Hampshire primary election, in Atkinson, New Hampshire, U.S. January 16, 2024. Davos, SWITZERLAND — Liberal pushback against a likely highly divisive U.S. election will play into the hands of the Chinese, Austria's Minister for Foreign Affairs, Alexander Schallenberg, said Thursday. "They treat democracy as a weakness, making us slower, making us more cumbersome. A spokesperson for the Chinese embassy in the U.K. wasn't immediately available for comment when contacted by CNBC. Trump, for his part, was considered highly skeptical of China during his time in office, opting for a protectionist approach.

Persons: Donald Trump, Alexander Schallenberg, Schallenberg, CNBC's Silvia Amaro, Trump, Biden Organizations: New, Liberal, Foreign Affairs, CNBC, Economic, wasn't, Republican Locations: New Hampshire, Atkinson , New Hampshire, U.S, Davos, SWITZERLAND, Switzerland, China

☆ Milan Fashion Week: This is what men will be wearing next fall
▼ + stars: | 2024-01-17 | by ( Scarlett Conlon | ) edition.cnn.com time to read: +7 min

This yellow coat and matching hat channeled fisherman chic at SS Daley. Giovanni Giannoni/WWD/Getty ImagesA seafaring element was evident in the collection at Emporio Armani too. To complement the sleek lines of suits came long coats in fine wool and leather that were part “Bladerunner,” part “Matrix” and part ode to the 1990s. The brooch is back, pinned to lapels at S.S. Daley, Magliano, Emporio Armani and Dolce & Gabbana. Functional, useful and classic, as above at Emporio Armani, were the key themes of the season in Milan.

Persons: Milan, Miuccia Prada, Raf Simons, Simons, officewear, Victor Virgile, ”, Daley, Giovanni Giannoni, Emporio Armani, Steven Stokey Daley, Harry Styles, Silvia Venturini Fendi, Anne, Britain's Princess Anne, Alessandro Levati, ” Fendi, Princess Royal, “, chunky knitwear, Neil Barrett, British Harris, Brunello, —, JW Anderson, Justin Shin, tailcoats, Stefano Gabbana, Domenico Dolce, Gabbana, Stefania D'Alessandro, Sabato de Sarno, Tom Ford, Sabato de, Gucci, Daniele Venturelli, de Sarno, Magliano, Massimo Giorgetti, Franco Albini, Gabanna, Armani Organizations: Milan CNN, Prada, CNN, Balmoral, Gabbana, Gucci, Dolce, Milan Metro, diamante Locations: Milan, British, Florence, Wellington, S.S, Saltburn, Italy

☆ Trump's potential return to the White House is dominating the chat at Davos
▼ + stars: | 2024-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

watch nowSome Davos participants are already preparing their business for a potential Republican leader in the White House. "Considering what happened when President Trump was in office, his main interest is trade. He added that his company is allocating more resources to their operations in the United States so they can protect themselves against any trade disputes. "We have to produce locally, especially in the United States ... We have scenarios to be able to respond to that leadership change," he added. The United States is one of the main markets for Suntory, which is looking to expand its sales beyond China.

Persons: Donald Trump, State Rex Tillerson, Nicholas Kamm, I've, Tim Adams, Trump, Ron DeSantis, Nikki Haley, Joe Biden, Takeshi Niinami, Bill Winters, Biden Organizations: State, Economic, AFP, Getty, Institute of International Finance, CNBC, Florida Gov, South Carolina Gov, Republican, Trump, Democratic, Suntory, Congress, Standard Chartered, U.S Locations: Davos, Switzerland, DAVOS, United States, Swiss, Iowa, The Iowa, China, U.S, Washington, Beijing

☆ Election disruption from AI poses the biggest global risk in 2024, Davos survey warns
▼ + stars: | 2024-01-10 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

The World Economic Forum's "Global Risks Report 2024," released Wednesday, ranked AI-derived misinformation and disinformation — and its implications for societal polarization — ahead of climate change, war and economic weakness in its top 10 risks over the next two years. "How that is going to play out is going to be quite important for us to watch," she added. watch nowThe WEF report, which was also produced in collaboration with Zurich Insurance Group, surveyed over 1,400 global risk experts, policymakers and industry leaders in September 2023 about their biggest global concerns. Top 10 global risksThe most cited risks for the next two years were, in order: misinformation and disinformation, extreme weather events, societal polarization, cyber insecurity and interstate armed conflict. Also in the top 10 were lack of economic opportunity, inflation, involuntary migration, economic downturn and pollution.

Persons: Alfieri, Carolina Klint, Marsh McLennan, CNBC's Silvia Amaro, Saadia Zahidi Organizations: Zurich Insurance Group Locations: Carolina, Europe

☆ Global economy set for its worst half decade of growth in 30 years, World Bank says
▼ + stars: | 2024-01-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

The global economy is on course to record its worst half decade of growth in 30 years, according to the World Bank. Global growth is forecast to slow for the third year in a row in 2024, dipping to 2.4% from 2.6% in 2023, the organization said in its latest "Global Economic Prospects" report released Tuesday. And despite the global economy proving resilient in the face of recessionary risks in 2023, increased geopolitical tensions will present fresh near-term challenges, the organization said, leaving most economies set to grow more slowly in 2024 and 2025 than they did in the previous decade. Escalation of these conflicts could have significant implications for energy prices that could have impacts on inflation as well as on economic growth," Ayhan Kose, the World Bank's deputy chief economist and director of the Prospects Group, told CNBC's Silvia Amaro. The bank warned that without a "major course correction," the 2020s will go down as "a decade of wasted opportunity."

Persons: CNBC's Silvia Amaro Organizations: World Bank Locations: Eastern Europe, Russian, Ukraine

☆ Palazzo Vilòn: Incredible historical mansion opens to overnight guests in Rome
▼ + stars: | 2023-12-04 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +6 min

Featuring multiple suites, all filled with artistic masterpieces, Rome’s 17th-century Palazzo Vilòn is sheer luxury. And now, Palazzo Vilòn can be all yours for 25,000 euros ($26,665) per night if you opt for the “buy-out” offer. Palazzo Vilòn offers a rare chance to travel back to a time when noble families ruled the Eternal City. Today, Palazzo Vilòn is believed to be Italy’s most expensive historical retreat. Despite all the grandeur, Florio stresses that Palazzo Vilòn is not a museum brought back to life.

Persons: CNN — It’s, Vilon, Sala di, Mattia Aquila, Borghese, Vilòn, it’s, –, ”, Palazzo Vilòn, Samuele Florio, Florio, ‘ It’s, Italy won’t, “, It’s Organizations: CNN, Michelin, Mirrors Locations: You’re, Campo Marzio, Europe, Rome, Italy, Vilòn, Italian

☆ Sweden expects Turkey to approve its NATO membership 'within weeks'
▼ + stars: | 2023-11-30 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

BRUSSELS — Sweden expects Turkey to approve its NATO membership "within weeks," the country's foreign affairs minister told CNBC after a months-long impasse over Stockholm's future within the alliance. Sweden sent a formal application to join NATO back in May 2022, alongside Finland. The latter became an official member in April 2023, but Sweden has been kept waiting by member nations Hungary and Turkey. During a NATO summit in July, Turkey's President Recep Tayyip Erdogan agreed to let Sweden into the alliance. "I had a bilateral with my colleague the foreign minister of Turkey, Hakan Fidan, where he told me he expects the ratification to take place within weeks," Swedish Minister for Foreign Affairs Tobias Billström said Wednesday in Brussels.

Persons: Recep Tayyip Erdoğan, Ulf Kristersson, Jens Stoltenberg, Hungary's, Recep Tayyip Erdogan, Hakan Fidan, Tobias Billström, Billström Organizations: Swedish, NATO, BRUSSELS —, CNBC, Kurdistan Workers Party, Foreign Locations: Vilnius, BRUSSELS, BRUSSELS — Sweden, Turkey, Sweden, Finland, Hungary, Turkish, Brussels

☆ Ukraine war live updates: Winter storms batter Russia and Ukraine, wreaking havoc, death and destruction ... but war continues
▼ + stars: | 2023-11-28 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

NATO's Secretary-General Jens Stoltenberg told CNBC it would be a "tragedy" for Ukrainians if Russian President Vladimir Putin wins the war. Therefore we will be more vulnerable if President Putin wins so it's in our security interests to support Ukraine," he told CNBC's Silvia Amaro in Brussels. Concerns have grown recently that public support for continued military funding for Ukraine has declined. Stoltenberg said bipartisan support for Ukraine remained strong in the U.S., despite some rumblings of Republican discontent over military aid. "I'm absolutely confident that the United States understands that it's dangerous for the United States if President Putin wins in Ukraine," he said.

Persons: Jens Stoltenberg, Vladimir Putin, Stoltenberg, Putin, CNBC's Silvia Amaro, — Holly Ellyatt Organizations: CNBC, Kyiv, Ukraine Locations: Ukraine, Moscow, Beijing, Brussels, Europe, U.S, United States

Last month's slayings of about 1,200 people in Israel by armed Palestinian militants represented the biggest killing of Jews since the Holocaust. ACTS OF ANTISEMITISM — AND HOW THAT'S DEFINEDAntisemitism is broadly defined as hatred of Jews. Criticism of Israel's policies and antisemitism have long been conflated by Israeli leaders such as Prime Minister Benjamin Netanyahu and by some watchdog groups. Some of Europe's Jews say they see it on the streets and the news. Many Jews, though, say the chant is inherently anti-Jewish and calls for the destruction of Israel.

Persons: Michel Dreifuss, —, Herbert Traube, Benjamin Netanyahu, Susan Neiman, “, you’ve, ”, Israel, Israel —, There's, Anna Segal, Segal, ” Segal, Peggy Hicks, “ I’ve, Hicks, ” ___ Kellman, Kirsten Grieshaber, Silvia Stellacci, Karel Janicek, Lorne Cook, Jari Tanner, Vanessa Gera, John Leicester, Sylvie Corbet Organizations: GENEVA, Einstein, —, French Interior Ministry, Community Security Trust, Israel, West Bank Locations: Geneva, Israel, Gaza, Europe, Germany, Austria, Potsdam, Britain, Russia, Berlin, Lyon, France, In Berlin, Palestine, Jordan, Jerusalem, London, Rome, Prague, Brussels, Helsinki, Warsaw, Poland, Paris

☆ Three Mexican journalists freed following kidnapping
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +1 min

Mexico is one of the world's deadliest countries for journalists, with five killed this year, the international free-speech group, Article 19, has said. Another journalist freed on Saturday was Marco Toledo, director of the weekly El Espectador de Taxco, authorities said. Toledo's wife and son had also been kidnapped by five armed men who entered their home last Sunday, Article 19 said. Although Toledo's wife has been freed, authorities are still searching for the journalist's son, the attorney-general's office said in its statement. With a tally of 13 murdered, last year was the deadliest for journalists in Mexico since Article 19 began keeping records in 2000.

Persons: general's, Silvia Arce, Alberto Sanchez, Marco Toledo, Taxco, Toledo's, Adriana Barrera, Valentine Hilaire, Daniel Wallis, Clarence Fernandez Organizations: MEXICO CITY, El, Thomson Locations: MEXICO, Guerrero, Mexico, Taxco

☆ Mexico Authorities Search for Journalists Taken in Tourist Town
▼ + stars: | 2023-11-24 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

MEXICO CITY (Reuters) - Authorities on Friday intensified the search for three journalists believed kidnapped by armed men in the south of Mexico, which press freedom groups consider among the world's most dangerous countries for reporters. The attorney general's office in the state of Guerrero on Thursday said it was investigating the disappearance of five people in the tourist town of Taxco, among them journalists Marco Toledo, Silvia Arce and Alberto Sanchez. Carlos Monge, communications chief for the attorney general's office, said searches would be reinforced with participation from the state prosecutors' office, the state search commission, state police, National Guard and the Army. Fifteen vans with personnel from various law enforcement agencies were deployed from the state capital to Taxco, Monge said. Mexico is among the world's deadliest countries for journalists, with five journalists killed so far this year, according to Article 19.

Persons: Marco Toledo, Silvia Arce, Alberto Sanchez, Carlos Monge, Monge, Toledo, Arce, Sanchez, Arce's, Raul Cortes Fernandez, Alistair Bell Organizations: MEXICO CITY, National Guard, Army, El Locations: MEXICO, Mexico, Guerrero, Taxco, Toledo

Amundi signed a 10-year distribution accord in 2017 when it bought UniCredit's Pioneer Investments for 3.6 billion euros. Credit Agricole CEO Philippe Brassac told reporters this month it was no secret UniCredit was looking at ways "to optimise" the accord with Amundi. Orcel, sources have said, is unhappy with the amount of Amundi funds the accord binds UniCredit to place with customers. UniCredit had 134 billion euros in AUM from fund and portfolio management as of Sept. 30. If their relationship ended after 2027, it would still take UniCredit time to replace Amundi funds with other products.

Persons: Sarah Meyssonnier, Amundi, Andrea Orcel, UniCredit, Philippe Brassac, Brassac, Orcel, Azimut, Valentina Za, Mathieu Rosemain, Silvia Aloisi, Alexander Smith Organizations: REUTERS, Reuters, Investments, Agricole, Credit, Amundi, Thomson Locations: Paris, France, MILAN, Italy, Italian, Milan

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. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. 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," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

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

☆ 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

☆ France's supreme court annuls penalties against UBS in tax evasion case - ruling
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsPARIS, Nov 15 (Reuters) - France's supreme court on Wednesday annulled penalties of 1.8 billion euros ($1.96 billion) imposed on Swiss bank UBS (UBSG.S) in 2021 in a major tax fraud case. The case will now go back to a lower court for a new decision on the penalties, the court said in its ruling. The court partially accepted an appeal by UBS against a decision taken by a lower court in 2021, which had imposed the penalties of 1.8 billion against the bank for allegedly helping wealthy clients in France evade taxes. ($1 = 0.9207 euros)Reporting by Tassilo Hummel, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Tassilo Hummel, Silvia Aloisi Organizations: UBS, Credit Suisse, Swiss, REUTERS, Rights, Thomson Locations: Zurich Switzerland, Swiss, France

Search resuls for: "SILVIA"

25 mentions found