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☆ Binance's European banking partner to withdraw support - CoinDesk
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Binance's European banking partner Paysafe Payment Solutions Ltd will stop supporting the U.S. cryptocurrency exchange from Sept. 25, CoinDesk reported on Wednesday. The crypto exchange will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner — Paysafe — will no longer be providing these services to Binance users, the report said, citing Binance's spokesperson. Paysafe and Binance did not immediately respond to a Reuters request for comment. The report comes as Binance faces scrutiny from regulators keen to clamp down on money laundering. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: CoinDesk, — Paysafe, Binance, Paysafe, Rishabh, Rashmi Aich, Sherry Jacob, Phillips Organizations: U.S, Securities and Exchange Commission, Thomson Locations: Britain, Bengaluru

☆ Berkshire Hathaway boosts stake in Occidental Petroleum to 25%
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said on Wednesday it has acquired more shares of Occidental Petroleum Corp (OXY.N), boosting its stake in the oil company to above 25%. The conglomerate, controlled by billionaire Warren Buffett, said in a regulatory filing that it paid about $122.1 million for 2.14 million Occidental shares between June 26 and June 28. Berkshire had also purchased about 4.66 million Occidental shares on May 30. It also recently owned about $9.5 billion of Occidental preferred stock carrying an 8% dividend, plus warrants to buy another $5 billion of Occidental shares at $59.62 each. Berkshire had amassed a 22.6% stake in the BNSF railroad before paying $26.5 billion for the remainder in 2010.

Persons: Warren Buffett, Buffett, We're, We've, Jonathan Stempel, Sherry Jacob, Phillips Organizations: Berkshire Hathaway Inc, Occidental Petroleum Corp, Occidental, Berkshire, Anadarko Petroleum Corp, BNSF, Apple Inc, Thomson Locations: Berkshire, Houston, Russia, Ukraine, Occidental, Omaha , Nebraska, Bengaluru

☆ Binance's European banking partner Paysafe to withdraw support
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Binance's European banking partner Paysafe Payment Solutions said on Thursday it will cease offering its embedded wallet solution to the U.S. cryptocurrency exchange across the European Economic Area (EEA) from Sept. 25. "Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months," Paysafe said in a email to Reuters. Binance will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner — Paysafe — will no longer be providing these services to Binance users, CoinDesk reported on Wednesday. Binance typically accesses SEPA via payment intermediaries. Binance tied up with Paysafe last year to allow its users to deposit sterling via Faster Payments, a network that oversees payments and bank account transfers in Britain.

Persons: Paysafe, — Paysafe, CoinDesk, Binance, Rishabh, Rahat Sandhu, Yana Gaur, Sherry Jacob, Phillips, Jason Neely Organizations: European Economic, Reuters, U.S, Securities and Exchange Commission, Thomson Locations: Britain, Bengaluru

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

☆ Accor plans to add more than 1,200 hotels
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - Accor (ACCP.PA) plans to open more than 1,200 hotels in the next five years, increasing the number of its resorts by more than one-fifth, Europe's biggest hotel group said on Tuesday. Accor also raised its outlook at its capital markets day, forecasting its 2023 revenue per room (RevPAR) to grow by 15% to 20% amid reorganisation plans that were implemented in January. Accor said it plans to return around 3 billion euros to shareholders in that period via dividends and share buybacks. "We expect a positive share price performance today and we will probably upgrade our recommendation on Accor as the updated mid-term guidance is stronger than expected," said analyst Yi Zhong at AlphaValue. ($1 = 0.9153 euros)Reporting by Tristan Veyet and Gaëlle Sheehan in Gdansk; editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Accor, Sébastien Bazin, Yi Zhong, Tristan Veyet, Gaëlle Sheehan, Sherry Jacob, Phillips Organizations: Europe's, Barclays, Thomson Locations: Accor, AlphaValue, Gdansk

☆ London stocks hit three-month low dragged by defence stocks; Aston Martin surges
▼ + stars: | 2023-06-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) slipped 0.4%, hitting a three month low as the aerospace and defence sector (.FTNMX502010) lost 2.1% after fighters of the Wagner group attempted a mutiny in Russia over the weekend. "Defence stocks tend to benefit from bad news in terms of geopolitical tensions," said Christopher Peters, trading floor manager at Accendo Markets. Britain's biggest defence company BAE Systems (BAES.L) slumped 3.1%, dropping to the bottom of the FTSE 100. The more domestically-focussed FTSE 250 midcap index (.FTMC) also fell 0.5%, touching a three-month low. Among individual stocks, Cineworld Group (CINE.L) dropped 28.9% after the cinema chain operator said it will file for administration as part of a proposed restructuring plan.

Persons: Russia Cineworld, Aston Martin, carmaker Aston Martin, Wagner, Christopher Peters, JP Morgan, Shashwat Chauhan, Sherry Jacob, Phillips Organizations: Defence, U.S, EV, Lucid, carmaker, Accendo, BAE Systems, Lloyds, Bank of England, Bank for International, Cineworld, Thomson Locations: Russia, Bengaluru

☆ Shell restarts Norco, Louisiana refinery after power outage, fire
▼ + stars: | 2023-06-25 | by ( Erwin Seba | ) www.reuters.com time to read: +1 min

Companies Entergy Corp FollowShell PLC FollowHOUSTON, June 25 (Reuters) - Shell Plc (SHEL.L) has begun restarting its 227,900 barrel-per-day (bpd) refinery in Norco, Louisiana after it was shut following a power outage, a company spokesperson said on Sunday. Shell gradually began resuming operations at the Norco refinery on Saturday, the sources said. The power interruption took place on Saturday at an Entergy substation supplying the Norco refinery, Shell spokesperson Curtis Smith. DU-5 is the only CDU at the Norco refinery. In a notice posted to area residents, Shell said power was restored to the refinery on Saturday afternoon.

Persons: Curtis Smith, Norco, Shell, Erwin Seba, Lisa Shumaker, Sherry Jacob, Phillips Organizations: Entergy, Shell, HOUSTON, Shell Plc, DU, Thomson Locations: Norco , Louisiana, United States

☆ London stocks open lower on recession fears; homebuilders worst hit
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.2%, FTSE 250 off 0.4%June 23 (Reuters) - UK's benchmark indexes extended their slide on Friday, led by a decline in homebuilders, as investors' concerns over recession heightened following the Bank of England's outsized interest rate hike. The benchmark FTSE 100 (.FTSE) was down 0.2% at 0706 GMT, while the FTSE 250 (.FTMC) mid-cap index lost 0.4%. Both indexes were on track for their worst weekly drop since the U.S. banking turmoil in March. Retail sales, however, unexpectedly rose in May, suggesting most consumers were coping with rigid inflation's impact on their spending power. Reporting by Ankika Biswas in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Ankika Biswas, Sherry Jacob, Phillips Organizations: Bank of England's, Federal Reserve, GSK, Thomson Locations: homebuilders, U.S, Norway, Switzerland, Bengaluru

☆ Nasdaq to sell debt worth $5 bln to fund Adenza deal
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - Nasdaq (NDAQ.O) said on Thursday it aims to sell debt worth $5.07 billion to fund its purchase of Thoma Bravo-owned software company Adenza. The $10.5 billion deal, announced earlier this month to help transform the exchange operator into a financial technology company, comprises $5.75 billion in cash and 85.6 million shares of Nasdaq common stock. Nasdaq is looking to sell senior notes worth $4.25 billion and 750 million euros ($821.33 million), according to a statement. Nasdaq and many of its peers have been morphing into financial technology firms, largely through deals, as regulatory and nationalist pushback effectively killed big cross-border exchange mergers, and as trading volumes fell after the 2008-2009 financial crisis, stunting transaction-based revenue. ($1 = 0.9132 euros)Reporting by Juby Babu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma, pushback, Juby Babu, Sherry Jacob, Phillips Organizations: Nasdaq, Thoma Bravo, OMX, International Securities Exchange, Thomson Locations: New York, U.S, Bengaluru

☆ Self-driving firm Kodiak inks deal to equip 800 Loadsmith trucks
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

Companies Kodiak Robotics, Inc FollowSAN FRANCISCO, June 22 (Reuters) - Autonomous truck technology firm Kodiak Robotics will equip its self-driving software in 800 trucks for logistics platform Loadsmith, the companies said in a statement on Thursday. Instead, investor focus has shifted to companies that offer less-complex, less-cash intensive forms of autonomy with a proven business model. Kodiak and Lordsmith said pairing autonomous trucks for long haul with local drivers will improve efficiency and safety for shippers, and help allay concerns over a nationwide driver shortage. There will be no safety driver involved in the autonomous part of the operations for Loadsmith, a Kodiak spokesperson said. California-based Kodiak partners with companies such as Swedish furniture giant IKEA and France-based CEVA Logistics for freight deliveries in Texas.

Persons: Lordsmith, Abhirup Roy, Sherry Jacob, Phillips Organizations: Kodiak Robotics, FRANCISCO, Kodiak Driver, Loadsmith, Kodiak, Logistics, U.S . Army, Thomson Locations: Kodiak, Loadsmith's U.S, California, France, Texas, San Francisco

☆ UK housebuilder Berkeley flags demand woes despite annual profit jump
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Berkeley Group Holdings (BKGH.L) on Wednesday posted a near-10% jump in annual profit even as the British high-end homebuilder warned of demand concerns and tough market conditions due to elevated levels of interest rates. Berkeleys' update comes at a time strengthening prospects of further Bank of England interest rate hikes have stymied hopes of a strong recovery in the UK housing sector as lenders withdraw or reprice mortgage offerings. CEO Robert Perrins said business continued to see good levels of enquiries, but flagged concerns about the trajectory of interest rate rises. Operating across London, Birmingham and the South of England, Berkeley reported a pre-tax profit for the year ended April 30 of 604 million pounds ($772.5 million), compared with 551.5 million pounds reported a year earlier. The homebuilder had forecast a pre-tax profit of about 600 million pounds.

Persons: homebuilder, Moody's, Robert Perrins, Aby Jose Koilparambil, Suban Abdulla, Sherry Jacob, Phillips, Sohini Organizations: Berkeley Group Holdings, Bank of, Thomson Locations: Bank of England, Berkeley, London, Birmingham, England, Bengaluru

☆ Telecoms firm Veon to invest $600 mln in mobile unit Kyivstar
▼ + stars: | 2023-06-21 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, June 21 (Reuters) - Telecoms company Veon (VON.AS) said on Wednesday it would invest $600 million in the infrastructure of its Ukrainian subsidiary Kyivstar, the war-ravaged country's largest mobile network. The Amsterdam-listed company said the funds would help upgrade the mobile operator's infrastructure, including improving connectivity and 4G services throughout Ukraine. The country has seen much of its mobile infrastructure hit by Russian rocket attacks. Kyivstar's technical teams have performed nearly 150,000 repairs since Russia invaded last year, Veon said, adding it ensured that 93% of the network is operational. Kyivstar has lost around 7% of its active customer base - or roughly 1.7 million subscribers - since the war started last February.

Persons: Veon, Oleksandr Komarov, Kyivstar, Komarov, Aleksander Torbakhov, Olivier Sorgho, Clarence Fernandez, Sherry Jacob, Phillips, Sharon Singleton Organizations: Reuters, Thomson Locations: Amsterdam, Ukraine, Russian, Russia, London

☆ Australia's competition tribunal blocks Telstra-TPG Telecom network deal
▼ + stars: | 2023-06-21 | by ( Harish Sridharan | ) www.reuters.com time to read: +3 min

2 wireless internet provider owned by Singapore Telecommunications (STEL.SI). TPG said it would review the tribunal's decision before considering its options for further appeal, including a judicial review in the Federal Court. Telstra shares were up 0.7% in early trade, while TPG's shares fell as much as 10.8%, the biggest intraday decline since August 2022. Optus, which had previously opposed the deal on the grounds it would build Telstra's market dominance, said it welcomed the tribunal's decision. "The tribunal's decision was a decisive move for competition in the sector," Commpete Chair Michelle Lim said.

Persons: Vicki Brady, Kelly Bayer Rosmarin, Commpete, Michelle Lim, Harish Sridharan, Subhranshu Sahu, Jamie Freed, Sherry Jacob, Phillips Organizations: Companies Telecom, Optus, TPG Telecom, TPG, Telstra, Australian Competition Tribunal, Telstra Group, Australian Competition, Consumer Commission, Singapore Telecommunications, ACCC, ACT, Thomson Locations: Bengaluru

The continent-wide European STOXX 600 (.STOXX) index rose 0.5%. The index gained 1.5% in the policy-packed week, its best performance in over two months. China-focused luxury stocks such as LVMH (LVMH.PA) and Richemont (CFR.S) gained nearly 3% each, boosting the broader STOXX 600. Defensive shares such as healthcare (.SXDP) gained 0.9%, and utilities (.SX6P) climbed 1.3% to a four-week peak. The STOXX 600 broke away from a restrictive 1% trading range that was seen for much of the past two weeks, as investors gradually start putting behind major central bank events.

Persons: Travis Perkins, DAX, Germany's DAX, Danni Hewson, AJ Bell, Hewson, Shreyashi Sanyal, Siddarth, Sohini Goswami, Sherry Jacob, Phillips Organizations: European Central Bank, U.S, U.S . Federal, Bank of Japan, Bank of, Britain's, Rheinmetall, Apollo Global Management, Claure Group, Thomson Locations: China, U.S ., Stockholm, Millicom, Bengaluru

SummarySummary Companies Travis Perkins falls, warns of downbeat profitUK inflation data, BoE rate decision due next weekFTSE 100 up 0.2%, FTSE 250 flatJune 16 (Reuters) - UK's FTSE 100 climbed on Friday, with defensive stocks such as utilities and healthcare leading the charge, while top building materials supplier Travis Perkins slumped after a profit warning. The internationally-focused FTSE 100 (.FTSE) gained 0.2%, posting a weekly gain of 1%, snapping a three-week losing streak underpinned by strength in mining stocks. Investors now look ahead to domestic inflation data and a probable 25-basis-point rate hike from the Bank of England next week. "It looks like, at least at this point, that this is the central bank that's going to remain the most restrictive for the longest period of time." A BoE survey showed the British public's expectations for inflation in the coming 12 months cooled in May.

Persons: Travis Perkins, BoE, Julien Lafargue, Ankika Biswas, Shashwat Chauhan, Khushi Singh, Sherry Jacob, Phillips, Shailesh Organizations: U.S . Federal Reserve, European Central Bank, Bank of, ECB, Barclays Private Bank, FTSE, Britain's, Thomson Locations: Bank of England, Bengaluru

☆ HSBC, StanChart face pressure from Hong Kong to take on crypto clients - FT
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

[1/3] An attendant walks outside the entrance to Hong Kong Monetary Authority in Hong Kong, China November 10, 2015. REUTERS/Bobby YipJune 15 (Reuters) - HSBC (HSBA.L) and Standard Chartered (STAN.L) are among lenders facing pressure from Hong Kong's banking regulator to take on crypto exchanges as clients, the Financial Times reported on Thursday, citing three people with knowledge of the matter. The UK-based lenders and the Bank of China were questioned by the Hong Kong Monetary Authority (HKMA) last month on why crypto exchanges were not being accepted as clients, according to the report. HSBC, Standard Chartered and the HKMA did not immediately respond to a Reuters request for comments. The HKMA, in a letter to lenders on April 27, said diligence on potential customers should not "create undue burden", especially "for those setting up an office in Hong Kong," the FT report said.

Persons: Bobby Yip, Hong Kong's, Rahat Sandhu, Rashmi Aich, Sherry Jacob, Phillips Organizations: Hong Kong Monetary Authority, REUTERS, HSBC, Standard Chartered, Financial Times, Bank of, U.S, Securities and Exchange Commission, Thomson Locations: Hong Kong, China, Hong, Bank of China, Bengaluru

☆ Diageo's long-time boss Ivan Menezes dies after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

June 7 (Reuters) - Diageo (DGE.L) on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world's biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie Walker whisky maker announced this week. British-American national Menezes, born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. The executive, who was behind the "Keep Walking" campaign for Johnnie Walker when he was marketing head, previously held roles at Whirlpool and Nestle. Menezes, who was awarded a knighthood this year, is survived by his wife and two children.

Persons: Ivan Menezes, Johnnie Walker, Debra, Menezes, Ivan, Javier Ferrán, Julio, Arvind Subramanian, Subramanian, Menzes, Eva Mathews, Sinchita Mitra, Dhanya Skariachan, Sherry Jacob, Phillips, David Evans Organizations: Diageo, American, Guinness, Grand Metropolitan, Whirlpool, Nestle, Government of, Indian Institute of Management, Thomson Locations: Indian, Pune, Government of India, Ahmedabad, India, Bengaluru

June 6 (Reuters) - Salesforce Inc (CRM.N) CEO Marc Benioff has shuffled the top management, a person familiar with the matter told Reuters on Tuesday, a move that follows after the software company reported its slowest quarterly revenue growth since 2010. Miguel Milano has been appointed as the chief revenue officer, the source said, adding that Ariel Kelman will take over as Salesforce's chief marketing officer. After a previous tenure of nearly a decade at Salesforce, Milano will make a return from his recent position at software company Celonis. Kendall Collins, who will step into the role of chief of staff for Benioff, had worked as CMO at Okta and Cisco's AppDynamics. Salesforce President and Chief Operating Officer Brian Millham would be assuming new duties such as marketing, employee success and business technology, the source said.

Persons: Marc Benioff, Miguel Milano, Ariel Kelman, Milano, Celonis, Kelman, Kendall Collins, Brian Millham, Salesforce, Benioff, Kanjyik Ghosh, Akriti Sharma, Anirudh, Sherry Jacob, Phillips Organizations: Salesforce, Reuters, Amazon Web Services, Oracle, Inclusive, Microsoft Corp, Amazon.com Inc, Thomson Locations: Salesforce, Okta, Bengaluru

☆ Netflix co-CEO Ted Sarandos to visit S.Korea this month - Yonhap
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Netflix Inc's (NFLX.O) co-Chief Executive Officer Ted Sarandos is planning a two-day visit to South Korea from June 20 to meet Prime Minister Han Duck-soo and other key officials, Yonhap News Agency reported on Wednesday. Sarandos' decision to visit comes about two months after the U.S. streaming service announced its plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows. Sarandos met South Korean President Yoon Suk Yeol in Washington in April, catering to international success enjoyed by South Korea's entertainment industry in recent years. Known as the "Korean Wave" or Hallyu, the country's entertainment industry has enjoyed a global boom in recent years. Reporting by Rahat Sandhu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ted Sarandos, Han Duck, Sarandos, Yoon Suk, Rahat Sandhu, Sherry Jacob, Phillips Organizations: Netflix, Yonhap News Agency, Reuters, South, Thomson Locations: South Korea, U.S, Washington, Bengaluru

☆ Salesforce CEO shakes up top ranks, hints at succession plan - Insider
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

Miguel Milano, who moved back from Celonis, has been appointed Salesforce's chief revenue officer, according to the Insider report, which added that Ariel Kelman, previously the chief marketing officer at Amazon Web Services (AMZN.O) and Oracle (ORCL.N), has been named the new CMO. President and Chief Operating Officer Brian Millham will be taking on a host of new responsibilities, including marketing, employee success and business technology, the memo said. Salesforce did not immediately respond to a Reuters request for comment. The company last month posted an 11% rise in its quarterly revenue, the slowest pace of growth in 13 years. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Marc Benioff, Miguel Milano, Ariel Kelman, Brian Millham, Salesforce, Kanjyik Ghosh, Sherry Jacob, Phillips Organizations: Salesforce, Oracle, Amazon Web Services, Inclusive, Thomson Locations: Celonis, Bengaluru

☆ Diageo's long-time boss Ivan Menezes passes away after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Diageo (DGE.L) said on Wednesday long-time boss Ivan Menezes has passed away following a brief illness. The announcement comes after the world's biggest spirits company on Monday said CEO-designate Debra Crew would assume the top role on an interim basis immediately as Menezes was under medical treatment. British-American national Menezes, 63, who was born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. Sales at Diageo, the maker of Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, surged under Menezes' leadership, and he steered the company through multiple brand acquisitions as well as a major sustainability overhaul. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Menezes, Debra, Menezes, Johnnie Walker, Julio, Eva Mathews, Sherry Jacob, Phillips Organizations: Diageo, American, Guinness, Grand Metropolitan, Thomson Locations: Indian, Pune, Bengaluru

☆ EU considers mandatory ban on using Huawei to build 5G - FT
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, June 5, 2020. REUTERS/Yves Herman//File PhotoJune 6 (Reuters) - The European Union is considering a mandatory ban on member states using companies deemed to present a security risk in their 5G networks, including Chinese telecoms group Huawei, the Financial Times reported on Tuesday, citing officials with knowledge of the discussion. Reporting by Akriti Sharma in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Akriti Sharma, Sherry Jacob, Phillips Organizations: European Commission, REUTERS, European, Huawei, Financial Times, Thomson Locations: Brussels, Belgium, European Union, Bengaluru

TOKYO, June 6 (Reuters) - Japan's Nikkei index extended its climb to scale a near 33-year high on Tuesday, with trading houses and Uniqlo operator Fast Retailing leading the gains on technical support for heavyweight shares ahead of the fixing of special quotation prices. The Nikkei (.N225) recouped from early losses to close nearly 1% higher at 32,506.78. Shares of Fast Retailing (9983.T) climbed 1.73%, contributing the most to the Nikkei's advance, while trading company Mitsui & Co (8031.T) jumped 3.86%. Trading houses (.IWHOL.T) and mining companies (.IMING.T) led gains among the 33 industry sub-indexes on the Tokyo Stock Exchange, rising 2.5%. read moreReporting by Rocky Swift and Nobuyo Saito in Tokyo; Editing by Rashmi Aich and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: speculatively, Takashi Nakamura, Mio Kato, Nitto Denko, Rocky Swift, Nobuyo Saito, Rashmi Aich, Sherry Jacob, Phillips Organizations: Nikkei, Tokai Tokyo Research, Retailing, Mitsui & Co, Mizuho Financial Group, LightStream, Tokyo Stock Exchange, Apple, Thomson Locations: TOKYO, Japan, Tokyo

☆ Bourse operator ASX on track for worst day in 11 years on higher cost outlook
▼ + stars: | 2023-06-06 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

June 6 (Reuters) - ASX Ltd (ASX.AX) lifted its capital expenditure outlook for fiscal 2024 on Tuesday, sending shares of the Australian bourse operator on track for their worst day since August 2012, if losses hold. Shares of ASX slipped as much as 10.1% to A$60.74, hitting their lowest since Jan. 16, 2019. The operator forecast its capital expenditure to come in between A$110 million ($72.74 million) and A$140 million for fiscal 2024, and revised its fiscal 2023 expense growth outlook to 12% - the top-end of its previous view. ASX has earmarked higher expenses to replace its Clearing House Electronic Subregister System (CHESS) software, for which the stock exchange operator submitted a report on Monday. ($1 = 1.5122 Australian dollars)Reporting by Navya Mittal in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Navya Mittal, Sherry Jacob, Phillips Organizations: Australian bourse, Citi, Thomson Locations: Bengaluru

☆ NZ's Infratil to buy stake in One New Zealand for $1.1 bln
▼ + stars: | 2023-06-06 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

June 7 (Reuters) - New Zealand's infrastructure investor Infratil (IFT.NZ) said on Wednesday it will acquire Canada's Brookfield Asset Management's (BAM.TO) stake in One New Zealand for NZ$1.8 billion ($1.1 billion) to strengthen its digital and renewable portfolio. Infratil will have full control over the country's second biggest mobile market operator by market share after buying the 49.95% stake. One New Zealand, previously known as Vodafone NZ, has 2.7 million connections of its mobile and broadband networks. "Since acquiring One New Zealand with Brookfield in 2019, we have invested meaningful capital to support network expansion, including the roll-out of 5G, and are pleased to now assume full ownership of the business," said William Smales, chief investment officer at Morrison & Co, which manages Infratil. ($1 = 1.6466 New Zealand dollars)Reporting by Navya Mittal in Bengaluru; Editing by Chris Reese, Lisa Shumaker and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Boyes, William Smales, Navya Mittal, Chris Reese, Lisa Shumaker, Sherry Jacob, Phillips Organizations: NZ, Vodafone NZ, Morrison & Co, Zealand, Thomson Locations: New Zealand, Zealand, Brookfield, Bengaluru

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