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☆ Elon Musk's AI firm xAI files to raise up to $1 bln in equity offering
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsDec 5 (Reuters) - Elon Musk's artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday. In a Twitter Spaces event earlier in the year he said that rather than explicitly programming morality into its AI, xAI will seek to create a "maximally curious" AI. The billionaire, who has criticized Big Tech's AI efforts as ridden with censorship, in July launched xAI, calling it a "maximum truth-seeking AI" to rival Google's (GOOGL.O) Bard and Microsoft's Bing AI. In 2015, Musk co-founded OpenAI, the company behind ChatGPT, which has created a frenzy for generative AI technology around the world, but stepped down from the board in 2018. The team behind xAI, which launched in July this year, comes from Google's DeepMind, the Windows parent, and other top AI research firms.

Persons: Elon Musk, Porte, Gonzalo Fuentes, xAI, Google's, Bard, Microsoft's Bing, XAI, Musk, Google's DeepMind, Akash Sriram, Jaiveer, Arsheeya Bajwa, Shailesh Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Elon, Securities and Exchange Commission, Microsoft Corp, Regulators, Thomson Locations: Paris, France, Bengaluru

☆ P&G to record up to $2.5 bln in Gillette writedown, operations rejig
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The consumer goods giant said it would take a $1.3 billion non-cash impairment charge before tax in the current quarter ending Dec. 31 on its Gillette business. P&G, which bought Gillette for $57 billion in 2005, gets about 8% of its total sales from the grooming business. "It's very difficult for us as a U.S. dollar-denominated company to create value (in these markets)," Schulten said. Total charges will be between $2 billion and $2.5 billion after tax and will be recognized in fiscal years 2024 and 2025. Net earnings attributable to the company was $14.7 billion for fiscal 2023.

Persons: Timothy Aeppel, Andre Schulten, Morgan Stanley, Schulten, Juveria Tabassum, Sriraj Organizations: Procter, REUTERS, Procter & Gamble, Gillette, Morgan, Thomson, & $ Locations: Tabler Station, West Virginia, U.S, Argentina, Nigeria

☆ Foxconn resumes iPhone assembly at Indian facility after weather disruptions
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Dec 5 (Reuters) - Taiwan's Foxconn (2317.TW) resumed operations on Tuesday at its Indian facility that makes Apple (AAPL.O) iPhones following weather disruptions, two sources familiar with the matter said. Foxconn and Pegatron (4938.TW) had on Monday halted production of iPhones at their factories near Chennai because of heavy rain as a severe cyclone neared, Reuters had reported. Foxconn declined to a request for comment, while Apple did not respond. Reporting by Munsif Vengattil in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Foxconn, Munsif, Kim Coghill Organizations: REUTERS, Rights, TW, Reuters, Apple, Thomson Locations: Chennai, Bengaluru

REUTERS/Yves Herman/File Photo Acquire Licensing RightsDUBAI, Dec 5 (Reuters) - Global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather, scientists said. The Global Carbon Budget report, published on Tuesday during the COP28 climate summit, said that overall CO2 emissions, which reached a record high last year, have plateaued in 2023 due to a slight drop from uses of land like deforestation. Countries are expected to emit a total 36.8 billion metric tons of CO2 from fossil fuels in 2023, a 1.1% increase from last year, the report by scientists from more than 90 institutions including the University of Exeter concluded. When land use emissions are included, global CO2 emissions are set to total 40.9 billion tons this year. China produces 31% of global fossil fuel CO2 emissions.

Persons: Yves Herman, India's, Pierre Friedlingstein, Friedlingstein, Kate Abnett, Alexander Smith Organizations: REUTERS, Rights, University of Exeter, 1.5C, IPCC, Research, Energy, Clean, European, Thomson Locations: Dunkirk, France, India, China, Paris, COP28, Helsinki, U.S, European Union, Europe

☆ China says visa-free travel policy has boosted tourism
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 5 (Reuters) - China's foreign ministry said on Tuesday its visa-free travel policy has produced a clear effect, making things easier for travellers. "Going forward, the Ministry of Foreign Affairs will continue to adjust visa policies to create more favourable conditions and further facilitate cross-border travel," spokesperson Wang Wenbin told a press briefing when asked for an update on tourism after China announced the policy, which covers several European countries and Malaysia. Travellers walk past an installation in the shape of five stars, at Beijing Daxing International Airport in Beijing, China April 24, 2023. Germany's ambassador to China had expressed hope that China would extend the measures to all European Union members. Reporting by Andrew Hayley; Writing by Liz Lee and Bernard Orr; Editing by Tom Hogue and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Wenbin, Tingshu Wang, Wang, Andrew Hayley, Liz Lee, Bernard Orr, Tom Hogue Organizations: Ministry of Foreign Affairs, China, Beijing Daxing International, REUTERS, European Union, Thomson Locations: BEIJING, Malaysia, Beijing, China, France, Germany, Italy, Netherlands, Spain

☆ Danish dockworkers join Swedish strike action against Tesla
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

A view shows the ship Malacca Highway at shore as port workers are blocking the loading of Tesla vehicles, in Malmo, Sweden, November 7, 2023. Johan Nilsson/TT News Agency/via REUTERS/File Photo Acquire Licensing RightsHELSINKI, Dec 5 (Reuters) - Denmark's 3F labour union said on Tuesday it will support Swedish mechanics in their strike action against Tesla (TSLA.O), and will refuse to unload or transport cars made by the U.S. auto company for customers in Sweden. "Like the companies, the trade union movement is global in the fight to protect workers," 3F Chair Jan Villadsen said in a statement, adding that Sweden's IF Metall union had asked 3F to help. The strike by Danish dockworkers and lorry drivers only affects cars that are meant for the Swedish market, the union said. Swedish labour groups have been taking industrial action against Tesla since October in a bid to force the car manufacturer to sign collective bargaining agreements with mechanics.

Persons: Johan Nilsson, Jan Villadsen, Tesla, Essi Lehto, Terje Solsvik Organizations: TT, Agency, Rights, U.S, IF Metall, Thomson Locations: Malacca, Malmo, Sweden, Swedish, Danish

☆ Senator Tuberville lifts blockade on some US military promotions
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Senator Tommy Tuberville (R-AL) speaks with reporters on the way to the Senate floor for a procedural vote regarding top military appointees at the U.S. Capitol in Washington, U.S., September 20, 2023. Senator Tommy Tuberville, who has blocked hundreds of military promotions for months to protest the Pentagon's payment of abortion-related travel costs, said on Tuesday he would lift his hold on some of them. Tuberville's actions have affected some 400 officers and their families, as well as lower-level officers in the military. Democrats have said Tuberville should show his objection on a policy matter by targeting Biden nominees involved with policy. Reporting by Jasper Ward and Susan Heavey; writing by Costas Pitas; editing by Rami AyyubOur Standards: The Thomson Reuters Trust Principles.

Persons: Tommy Tuberville, Jonathan Ernst, I've, Republican Tuberville, Biden, Jasper Ward, Susan Heavey, Costas Pitas, Rami Ayyub Organizations: U.S, Capitol, REUTERS, Rights, Republican U.S, Pentagon, Republican, Thomson Locations: Washington , U.S, Alabama

☆ Four bidders approved for Colombia 5G auction
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Flags flutter on the facade of the Colombian Ministry of Information and Communications Technologies building in Bogota, Colombia, November 8, 2023. REUTERS/Luis Jaime Acosta/File Photo Acquire Licensing RightsBOGOTA, Dec 5 (Reuters) - Four operators have been approved to participate in Colombia's auction to offer fifth-generation (5G) cellular data services, the communications ministry said. Telecall Colombia S.A.S., the fourth approved bidder, is a Brazilian telecoms coming looking to enter the Colombian market. The government expects to raise about $500 million via the Dec. 20 auction and join regional neighbors like Argentina and Mexico, where 5G is already available. Reporting by Luis Jaime Acosta; Writing by Julia Symmes Cobb; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Luis Jaime Acosta, Julia Symmes Cobb, Mark Porter Organizations: Colombian Ministry of Information, Communications Technologies, REUTERS, Rights, Telefonica, Telecall, Thomson Locations: Bogota, Colombia, Rights BOGOTA, Claro, Telecall Colombia, Brazilian, Colombian, Argentina, Mexico

☆ Your world in 10 minutes: US warships on alert
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

The US Navy is on high alert in the Red Sea after a series of drone attacks by Iran-backed Houthi rebels. Ukrainian President Volodomyr Zelenskiy is set to appeal directly to senators after the White House warned US funding for the war is running out. Supreme Court justices appear split over whether to approve a bankruptcy settlement with the makers of OxyContin. Plus, COP28 turns its attention to fossil fuels and a former US ambassador is charged over spying for Cuba. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices.

Persons: Volodomyr Zelenskiy, Moody's Organizations: Apple, Google, Reuters, US Navy, House, Hamas, Thomson Locations: Red, Iran, OxyContin, Israel, Cuba, Russia, Ukraine, China

☆ Russian air defence systems destroy 41 Ukraine-launched drones -Russian defence ministry
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

Dec 5 (Reuters) - Russian air defence systems destroyed or intercepted a total of 41 Ukraine-launched drones overnight and early morning on Tuesday, the Russian defence ministry said. Twenty-six of the drones were destroyed over Russian territory, and 15 were intercepted over the Sea of Azov and the Crimean Peninsula, the ministry said in a statement on its Telegram channel. The ministry did not say whether there was any damage caused by the attack or falling debris. Reuters could not independently verify the report. Reporting by Lidia Kelly in Melbourne; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Lidia Kelly, Tom Hogue Organizations: Thomson Locations: Ukraine, Azov, Crimean, Melbourne

☆ Shanghai wants Microsoft to promote AI tech in city - govt
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A Microsoft sign at the U.S. tech giant's offices in Issy-les-Moulineaux, near Paris, France, January 25, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - Shanghai authorities told Microsoft's (MSFT.O) visiting president on Tuesday they want his company to promote artificial intelligence technology to boost businesses there, the Chinese financial hub's government said. Chen Jining, Shanghai's Communist party Secretary, made the remarks while meeting Microsoft President and Vice Chair Brad Smith, the government said. Shanghai was also open to Microsoft collaborating on studying technology-related governance frameworks and standards, Chen said. Reporting by Beijing Newsroom;Our Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Microsoft's, Chen Jining, Brad Smith, Chen Organizations: Microsoft, REUTERS, Rights, Communist, Beijing Newsroom, Thomson Locations: Issy, Paris, France, Rights BEIJING, Shanghai

☆ Ericsson shares rally on AT&T network deal, Nokia drops
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsDec 5 (Reuters) - Ericsson (ERICb.ST) shares rallied in early trading on Tuesday after AT&T (T.N) chose the Swedish telecoms equipment maker over Finnish rival Nokia (NOKIA.HE) to build a network under a five-year deal that could see spending reach $14 billion. Ericsson rose around 8% on German trading platform Tradegate, while Nokia fell 9%. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Danilo Masoni, Amanda Cooper Organizations: Ericsson, REUTERS, Nokia, Thomson Locations: Kanata , Ontario, Canada

☆ China issues safety guidelines for autonomous public transport vehicles
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Baidu's Apollo car with an autonomous driving system, which serves for self-driving taxi services, is seen at the Shougang Industry Park in Beijing, China July 30, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - China on Tuesday issued safety guidelines for the use of autonomous vehicles in public transport, the latest in a series of measures preparing for the increased use of driverless cars. The guidelines apply to autonomous vehicles for passengers including taxis as well as for freight transportation, the Ministry of Transport said in a statement. They also require companies using autonomous vehicles for public transport to be qualified and licensed and state that companies can work together with automakers on such operations. In October, it issued guidelines for highway engineering facilities to support autonomous driving technology.

Persons: Tingshu Wang, Albee Zhang, Zoey Zhang, Brenda Goh, Christopher Cushing Organizations: REUTERS, Rights, Ministry of Transport, Thomson Locations: Beijing, China, Rights BEIJING

☆ Activists protest against fossil fuel industry at COP28 climate summit
▼ + stars: | 2023-12-05 | by ( Alexander Cornwell | ) www.reuters.com time to read: +3 min

[1/2] Climate activists protest against fossil fuel emitters, demanding action and more contributions to the Loss and Damage Fund, during the United Nations Climate Change Conference COP28 in Dubai, United Arab Emirates, December 5, 2023. Chiponda argued that language calling for the phase-out of "unabated" fossil fuels was merely a distraction that would allow for their continued use. Governments at COP26 agreed to phase down the use of unabated coal, the most polluting of fossil fuels. This year, countries remain split over what role fossil fuels should play in the future. Jaber has made a point of including the fossil fuel industry at the summit, insisting that oil and gas companies should be part of discussions on tackling climate change.

Persons: Amr Alfiky, Lorraine Chiponda, Chiponda, Sultan Al Jaber, Jaber, Thomas Joseph, Jainno Congon, Alexander Cornwell, Katy Daigle Organizations: Damage, United Nations, United Arab Emirates, REUTERS, Rights, United, COP26, Reuters, Thomson Locations: Dubai, United Arab, COP28, Glasgow, Paris, United Arab Emirates, UAE, California

☆ Governments take action to keep offshore wind projects on track
▼ + stars: | 2023-12-05 | by ( Susanna Twidale | ) www.reuters.com time to read: +6 min

[1/2] Scroby Sands offshore wind farm can be seen off of the coast at Great Yarmouth, Britain, October 24, 2018. Investors told Reuters governments have since shown willingness to pay higher prices, helping to restore confidence in the future of the industry. Britain's last auction in September failed to attract any offshore wind projects, with developers saying the guaranteed price on offer was too low. Britain's Octopus launched a dedicated fund with Japan's Tokyo Gas (9531.T) to invest 3 billion pounds ($3.7 billion) in offshore wind projects by 2030. Soeren Lassen, head of offshore wind Research at WoodMac said more than 50 GW of offshore wind tenders globally are planned for 2024.

Persons: Chris Radburn, ”, Jonathan Cole, Corio's Cole, Keith Anderson, Anderson, Marc Hedin, Nathalie Gerl, Germany's RWE, Soeren Lassen, WoodMac, Susanna Twidale, Nichola Groom, Scott DiSavino, Simon Webb, Jane Merriman Organizations: REUTERS, Governments, Investors, Corio Generation, Power, New York, Energy, New York State Energy Research, Development Authority, Aurora Energy Research, Research, Ireland, Aurora, Gas, Thomson Locations: Great Yarmouth, Britain, U.S, New York State, China

☆ Wells Fargo CEO expects severance expenses to exceed $750 million
▼ + stars: | 2023-12-05 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +2 min

Charlie Scharf, CEO, Wells Fargo, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Dec 5 (Reuters) - Wells Fargo (WFC.N) CEO Charlie Scharf told investors on Tuesday he expects to book higher-than-anticipated severance expenses between $750 million to a little less than $1 billion in the fourth quarter. The bank has reduced its workforce since the third quarter of 2020 and it stood at 227,363 at the end of third quarter of this year. Wells Fargo set aside $359 million for potential credit losses on office real estate in the third quarter, bringing total allowances to $2.6 billion for the first nine months of 2023. Wells Fargo has reduced its origination in auto loans and has also been reducing the size of its mortgage servicing portfolio.

Persons: Charlie Scharf, Wells, Mike Blake, Scharf, Goldman Sachs, " Scharf, Wells Fargo, Nupur Anand, Lananh Nguyen, Chizu Organizations: Milken, Global Conference, REUTERS, San, . Financial Services Conference, U.S, Thomson Locations: Wells Fargo, Beverly Hills , California, U.S, San Francisco, Wells

☆ ECB hawk Schnabel scraps more rate hikes after 'remarkable' inflation drop
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +4 min

Euro zone inflation tumbled to 2.4% last month from above 10% a year earlier after a record string of rate hikes. Schnabel, who had insisted just a month ago that rate hikes must remain an option because the "last mile" of the inflation fight may be the toughest, said she had shifted stance after three unexpectedly benign inflation readings in a row. "The most recent inflation number has made a further rate increase rather unlikely." "The recent inflation print has given me more confidence that we will be able to come back to 2% no later than 2025." Schnabel said weak growth as a result of the ECB's rate hikes is helping the inflation fight but that a deep or prolonged recession is unlikely, with recent survey data supporting expectations for a recovery.

Persons: Isabel Schnabel, Jim Urquhart, Schnabel, John Maynard Keynes, Christine Lagarde, Francois Villeroy de, Yannis Stournaras, Joachim Nagel, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Teton, Jackson, REUTERS, Rights, ECB, Reuters, Bank of Greece, Thomson Locations: Jackson , Wyoming, U.S, French, Francois Villeroy de Galhau

HONG KONG, Dec 5 (Reuters Breakingviews) - Why would the world’s largest battery maker want to sell shares when it’s already flush with liquidity? It ended June with 102 billion yuan ($14 billion) in net cash, Moody’s calculates. CATL has just started production at a new facility in Germany and is building a plant in Hungary, its first forays West. The company’s long-term loans have increased more than tenfold to more than 70 billion yuan and its long-term bonds by around a third to nearly 20 billion yuan since 2020, per Visible Alpha. But as Zeng’s electric dreams accelerate, he’ll want to be sure CATL’s own batteries are fully charged.

Persons: it’s, CATL, Robin Zeng, Breakingviews, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Hong, Thailand’s, Ford Motor, Technology, Thomson Locations: HONG KONG, Switzerland, CATL, Hong Kong, Shenzhen, China, Europe, Germany, Hungary, Fitch, Indonesia, Swiss

☆ Experts say they warned of dangers of climbing Indonesia's Mt. Marapi after 13 die in eruption
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Mount Marapi volcano spews volcanic ash as seen from Nagari Batu Palano in Agam, West Sumatra province, Indonesia, December 4, 2023, in this photo taken by Antara Foto. The 2,891-metre high volcano in West Sumatra erupted on Sunday, spewing gray clouds of ash as high as 3 kilometres (1.9 miles) into the sky. Search operations for 10 missing climbers were under way on Tuesday, local authorities said, with about 200 local rescuers involved. For more than a decade, Indonesia's volcanology agency had sent monthly letters warning the environment ministry and local conservation agency that climbers should keep a safe distance from the volcano's peak, said agency head Hendra Gunawan. The volcano erupted several times in January and February 2023, but its relatively infrequent eruptions during the past decade have made it difficult to analyse, said Ahmad Basuki of the volcanology agency.

Persons: Antara, el, Indonesia's, Hendra, Rescuers, Marapi, Ahmad Basuki, Ananda Teresia, Kate Lamb Organizations: Rights, Reuters, West, Thomson Locations: Batu, Agam , West Sumatra, Indonesia, Rights JAKARTA, West Sumatra, West Sumatra's, Mt

☆ Stock-hungry volatility funds, ‘gamma-heavy' options dealers could buoy US equities
▼ + stars: | 2023-12-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Options strategists believe market gyrations may stay subdued for some time - potentially smoothing the way for further gains in equities. The S&P 500 is up 19% year-to-date, following a 9% gain in November - its best monthly performance since July 2022. Since the VIX tends to move inversely to stocks, market participants watch it closely as an indicator of investor sentiment and positioning. Among the factors closely watched by market participants are the funds that take their signals from market volatility, selling when volatility picks up and buying when it subsides. History also shows that once volatility expectations become subdued, they can linger at low levels for a while.

Persons: Lucas Jackson, Ilya Feygin, Nomura, Charlie McElligott, Brent Kochuba, Cantor Fitzgerald, Eric Johnston, Cantor Fitzgerald’s, Johnston, Saqib Iqbal Ahmed, Ira Iosebashvili, Grant McCool Organizations: New York Stock Exchange, REUTERS, Federal, Monday, WallachBeth, Nomura Securities, ’, Thomson

☆ China's state banks seen swapping and selling dollars for yuan - sources
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Dec 5 (Reuters) - China's major state-owned banks were seen swapping yuan for U.S. dollars in the onshore swap market and selling those dollars in the spot market to support the yuan on Tuesday, two sources with knowledge of the matter said. The state bank actions come at a time the Chinese yuan strengthened 2.55% to the dollar in November for the best month this year. Chinese state banks often act on behalf of the country's central bank in the foreign exchange market, but they would also trade on their own behalf. Big banks were spotted doing a similar trade late last month, helping the yuan's recovery against a broadly weaker U.S. dollar, Reuters reported.

Persons: Dado Ruvic, Tom Westbrook, Jacqueline Wong Organizations: REUTERS, Rights, Reuters, Shanghai, Thomson

HONG KONG, Dec 5 (Reuters) - Hong Kong pro-democracy activist Agnes Chow, who fled to Canada while free on bail, says she won't return home amid a crackdown that curbed her freedoms, defying a warning from Hong Kong's leader that she would be pursued for life. "In consideration of the political situation in Hong Kong and my personal health, my mental health, my physical health, and the high political risk of not being allowed to leave Hong Kong again, I've decided not to go back." The security law has drawn criticism from Western governments as a tool of repression, but China says it has restored stability after mass pro-democracy protests in 2019. "The national security police are not doing their job according to the legal system in Hong Kong," she told Reuters. Hong Kong leader John Lee on Tuesday described Chow as a "liar" and "devoid of integrity".

Persons: Agnes Chow, Hong, Chow, I've, Tyrone Siu, John Lee, Lee, Nathan Law, Anna Kwok, wasn't, James Pomfret, Gerry Doyle Organizations: REUTERS, Reuters, Hong Kong, HK, Thomson Locations: HONG KONG, Hong Kong, Canada, Toronto, China, Shenzhen, Japan, Hong

☆ Greek olive growers brace themselves as thieves seek pricey crop
▼ + stars: | 2023-12-05 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +3 min

Tsafaras has been robbed twice, with thieves stealing more than a tonne of his olives in one incident last month. Greek police confirmed to Reuters that there is a spike in thefts of olives and olive oil across the country this year. Greece is the world's third-biggest producer of olive oil behind Italy and Spain, which have seen similar incidents. The decline in output has doubled olive oil wholesale prices to 8-9 euros per litre, according to government officials. Retail prices have reached up to 14 euros, making the crop an appealing target for thieves.

Persons: Louisa Gouliamaki, Panagiotis Tsafaras, Tsafaras, Dimitris Plakonouris, Plakonouris, Panagiotis Foudas, Lefteris Papadimas, Mark Porter Organizations: REUTERS, Reuters, Thomson Locations: Sesklo, Greece, Filiatra, Italy, Spain,

☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

The first option in the draft is listed as "an orderly and just phase-out of fossil fuels". The second option calls for "accelerating efforts towards phasing out unabated fossil fuels". "I don't think we're going to leave Dubai without some clear language and some clear direction on shifting away from fossil fuels," he added. China's fossil fuel emissions rose after it lifted COVID-19 restrictions, while India's rise was a result of power demand growing faster than its renewable energy capacity, leaving fossil fuels to make up the shortfall. "Leaders meeting at COP28 will have to agree rapid cuts in fossil fuel emissions even to keep the 2C target alive," he said.

Persons: Stephane Mahe, Jean Paul Prates, Patrick Pouyanne, Jennifer Morgan, Prince Abdulaziz bin Salman, David Waskow, Exeter, Pierre Friedlingstein, Kate Abnett, William James, Valerie Volcovici, Elizabeth Piper, Katy Daigle Organizations: REUTERS, Petrobras, European, Oxford University, Saudi Arabia's Energy, Bloomberg, World Resources, University of Exeter, Reuters, Thomson Locations: France, Montoir, Bretagne, Saint, Nazaire, DUBAI, COP28, Brazil's, United States, European Union, Saudi Arabia, Russia, Dubai, India, China, Paris

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