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☆ Air France issues bonds convertible into shares for 300 mln euros
▼ + stars: | 2022-11-16 | by ( Silvia Aloisi | ) www.reuters.com time to read: +2 min

The shares plunged 13% in early trading as the issue dilutes current shareholders in Air France if the bonds are converted into new shares unless they buy into it. Air France said in February that it was considering options for a capital raising of up to 4 billion euros, including a rights issue and quasi equity debt issues. The bonds, which can also be exchanged with existing Air France shares, will be offered through a placement to qualified investors, the airline said. Air France-KLM received 10.4 billion euros in support in 2020 when the coronavirus pandemic hit, including through direct French and Dutch state loans. "The company is not aware of any subscription intention from its other main shareholders," Air France said.

☆ Treasury sanctions firms, individuals involved in the transfer of drones from Iran to Russia in Ukraine war
▼ + stars: | 2022-11-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

The Treasury Department announced new sanctions against three firms and two individuals involved in the production and transport of drones from Iran to Russia to aid in Russian President Vladimir Putin's war against Ukraine. The sanctions come as the U.S. and its allies look to punish individuals and organizations supporting Russia's war efforts. In addition, the Treasury issued sanctions against two individuals — Abbas Djuma and Tigran Khristoforovich Srabionov — for facilitating Wagner Group's acquisition of drones. State Department spokesman Ned Price also said Russian officials received training on the UAVs in Iran. The U.S., Britain and France said Iran violated U.N. Security Council resolution 2231 by providing the weapons to Russia.

☆ Iran indicts 11 over Basij agent's death, basketball team skips anthem
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +4 min

Videos posted on social media purportedly showed the national basketball team refraining from singing the national anthem during a match with China in Tehran on Friday - widely seen as another show of support from athletes for the protests. The activist HRANA news agency said 336 protesters had been killed in the unrest as of Friday, including 52 minors. Earlier this week, videos posted on social media showed the national water polo team failing to sing the national anthem at a competition in Thailand. 'STEP UP THE PRESSURE'On Friday, a cleric in the northwestern city of Urmia called during prayers for the punishment of athletes who refrained from singing the national anthem, according to Iranian news agencies. "We want to continue to step up the pressure on the Revolutionary Guard Corps and the political leadership," he said in a video posted on Twitter.

[1/4] A migrant, in need of urgent hospital care, lies on a stretcher, as officers prepare them for helicopter transport from rescue ship 'Ocean Viking' in the Mediterranean Sea, November 10, 2022. The Ocean Viking, which is operated by the SOS Mediterranee charity, was sailing on Thursday by the French island of Corsica, but had previously been close to Italy. The French would also reinforce controls at its borders with Italy to prevent migrant crossings, he said. Ocean Viking was the fourth. The far-right was quick to react to the decision to let the Ocean Viking dock, with the RN's Marine Le Pen tweeting that he was being "dramatically" soft on immigration.

☆ EU backs watering down of final Basel bank capital rules
▼ + stars: | 2022-11-08 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

LONDON, Nov 8 (Reuters) - European Union member states have backed a temporary watering down and two-year delay to 2025 for the final leg of the globally agreed Basel III bank capital rules, the Czech EU presidency said on Tuesday. EU states will now negotiate a final deal with the European Parliament in early 2023. Most of the Basel III rules, a set of tougher capital rules for banks after the global financial crisis more than a decade ago, have already been implemented. EU ministers backed a two-year delay to the start date for rolling out the final rules, pushing it back to January, 2025. Smaller banks would benefit from simpler disclosure, and EU states pushed back against attempts at stricter EU harmonisation in checking whether top bank staff are 'fit and proper'.

☆ Coy Gibbs, co-owner of NASCAR’s Joe Gibbs Racing, dies at 49
▼ + stars: | 2022-11-06 | by ( Kevin Dotson | ) edition.cnn.com time to read: +2 min

CNN —Coy Gibbs, co-owner of Joe Gibbs Racing, son of team patriarch Joe Gibbs and father of NASCAR driver Ty Gibbs, has died at the age of 49, the racing team announced. “It is with great sorrow that Joe Gibbs Racing confirms that Coy Gibbs (co-owner) went to be with the Lord in his sleep last night. Joe Gibbs lost his other son, J.D. Gibbs both worked in the front office of Joe Gibbs Racing, and Coy Gibbs also raced for the team, according to NASCAR. On behalf of the France Family and all of NASCAR, I extend my deepest condolences to Joe, Pat, Heather, the Gibbs family and everyone at Joe Gibbs Racing on the loss of Coy, a true friend and racer.”This story is developing.

☆ France had hottest month of October since 1945
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man enjoys the sunset on a warm and sunny autumn day on the beach of Calais, France, October 30, 2022. REUTERS/Pascal Rossignol/File PhotoPARIS, Nov 1 (Reuters) - October 2022 is set to be the hottest month of October in France since records started in 1945, national weather agency Meteo-France said in a statement. Meteo-France said that due to climate change, periods of unusual heat late or early in the year were set to become more frequent. Beach resorts across Europe have extended their season as the unseasonable warmth kept tourists coming to the seaside. Reporting by GV De Clercq; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Battling cholera, Lebanon gets first vaccines, and sharp words, from France
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, Oct 31 (Reuters) - Lebanon took delivery on Monday of its first vaccines to combat a worsening cholera outbreak - together with sharply worded criticism of the crisis-hit country's crumbling public health infrastructure from donor nation France. Lebanon had been cholera-free since 1993, but its public services are suffering under a brutal economic crisis now in its fourth year, while infighting among the country's faction-riven elite has paralysed its political institutions. The vaccines would play "an essential role" in limiting the disease's spread, Health Minister Firass Abiad told reporters in the capital as he announced the first batch. "The origins of this epidemic, in which public health is at stake, must also be treated," Anne Grillo told reporters. The outbreak was "a new and worrying illustration of the critical decline in public provision of access to water and sanitary services in Lebanon."

Other participants were pressing ahead with the deal despite Russia's withdrawal while France said it was working to boost Ukraine grain exports via land routes in conjunction with other European Union states. A record volume of 354,500 tonnes of agricultural products was carried on vessels leaving Ukrainian ports on Monday as part of the Black Sea grain deal, a spokesperson for Odesa's military administration said. WHEAT PRICES CLIMBWheat prices rose on Monday, climbing around 6% to $8.78 a bushel in Chicago, but remained far below a peak of $13.63-1/2 set in early March shortly after the conflict began. The strong pace of wheat exports from Russia, which harvested a record crop this summer, has helped to bolster supplies on the world market. "Typically, it takes about two months for higher grain prices to filter through the supply chain and impact consumers at the retail level," said a Sydney-based analyst.

A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. The London-headquartered bank posted a pretax profit of $3.15 billion for the three months ended Sept. 30. That was down from $5.4 billion a year ago, but well above the $2.45 billion average of analyst estimates compiled by the bank. "We remain on track to achieve our cost targets for 2022 and 2023," said Noel Quinn, HSBC's Chief Executive Officer. It said it would do this by the first half of next year by increasing revenue and managing costs.

☆ HSBC third-quarter pretax profit slides 42% on France sale charge, credit losses
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: +1 min

HSBC bank logo on the wall is seen in Valletta , Malta on 21 September 2022. HSBC reported on Tuesday a 42% tumble in third-quarter pretax profits on the back of losses on the sale of its French unit and rising bad loans, but its interest income surged as banks benefit from rising rates around the world. The London-headquartered bank posted a pretax profit of $3.15 billion for the three months ended Sept. 30. That was down from $5.4 billion a year ago, but well above the $2.45 billion average of analyst estimates compiled by the bank. "We remain on track to achieve our cost targets for 2022 and 2023," said Noel Quinn, HSBC's Chief Executive Officer.

☆ Russia accuses Ukraine of planning to set off 'dirty bombs,' but foreign ministers around the world swiftly reject the claim
▼ + stars: | 2022-10-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Russia's defense minister has accused Ukraine of preparing to use radioactive "dirty bombs" in the war. The US, UK, France, and Ukraine rejected the claim amid concerns that the war is escalating. Shoigu made the accusations in phone calls with his counterparts from the US, UK, France, and Turkey on Sunday, per AP. The US, the UK, and France dismissed Russia's claim about "dirty bombs" in a joint statement on Monday. Ukrainian President Volodymyr Zelenskyy also hit back at the allegation about "dirty bombs" in a video address on Sunday.

Amid resistance from France, Spain and Italy had previously broached the idea of building an underwater pipeline between the two countries. Iberdrola, which is building Europe's largest green hydrogen plant in Puertollano in central Spain, declined to comment on the pipeline announcement. Cepsa CEO Maarten Wetselsaar told Reuters the agreement put Spain at the heart of Europe's plan to diversify away from Russian energy. As for natural gas, Spain has six terminals allowing it to bring in liquefied natural gas and convert it into its gaseous form, and three storage facilities, while Portugal has one. The United States and Nigeria are among key suppliers of LNG to Spain, which also receives piped gas from Algeria.

☆ Freight Operators’ Peak Shipping Season Is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +7 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.

☆ Freight Operators’ Peak Shipping Season is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +6 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.

☆ France's grid operator: EDF strikes could have heavy consequences for winter supply
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Companies Electricite de France SA FollowPARIS, Oct 18 (Reuters) - France's national grid operator RTE warned on Tuesday that prolonged strikes delaying the restart of some reactors at nuclear power group EDF could have "heavy consequences" for the country's electricity supplies over the coming winter. RTE cut its forecast range for power availability for this month and the first half of November based on the blockade at some of EDF's reactors so far, compared to a previous report it released in September. RTE is still maintaining its expectation that France's nuclear power production will rise to between 40 and 45 gigawatt (GW) in December and January from 25-30 GW at the end of October. "A prolonged social movement would have heavy consequences for the key part of the winter," it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Benjamin Mallet, writing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ Eleven French nuclear sites affected by strike, union says
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Companies Electricite de France SA FollowPARIS, Oct 18 (Reuters) - Strikes have affected 11 French nuclear power plants, an FNME-CGT power union representative said on Tuesday, delaying maintenance at 17 different reactors. Power production was also reduced by 1.8 gigawatts (GW) at three other nuclear reactors, data from operator EDF (EDF.PA) showed. Members of FNME-CGT have been staging rolling strikes at French nuclear power plants for several weeks over wages, heightening the risk of power supply shortages as the French utility struggles to get enough reactors back online for winter. Maintenance operations are continuing on the reactors that are currently shutdown despite the strikes, an EDF spokesperson said on Monday. The strike is part of a general strike on Tuesday that has affected train traffic, schools and other sectors.

☆ EDF says strike hits a third of French nuclear plants, delaying maintenance work
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

Companies Electricite de France SA FollowPARIS, Oct 15 (Reuters) - Strike action over wage demands was hitting a third of EDF's 18 French nuclear plants as of Friday night, a spokesperson for the utility said, further delaying the maintenance of its reactors. "Six sites (were) affected by strikes as of last night," the spokesperson said on Saturday. This led to the postponement of the restart date of five reactors currently under maintenance by "one to several days", the spokesperson for EDF (EDF.PA) added. A representative for France's FNME trade union said on Friday that maintenance work at nine nuclear reactors split between five sites had been delayed due to a strike over wages. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mathieu Rosemain; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ France says Iranian drone transfers to Russia would violate U.N. nuclear deal resolution
▼ + stars: | 2022-10-13 | by ( John Irish | ) www.reuters.com time to read: +3 min

Summary France ties alleged Iranian drones to nuclear deal resolutionU.N. Security Council resolution has restrictions until 2023Iran denies supplying drones to RussiaPARIS, Oct 13 (Reuters) - France's foreign ministry said on Thursday that any transfer of Iranian drones to Russia would be a violation of the United Nations Security Council resolution that endorsed the 2015 nuclear accord between Iran and world powers. Register now for FREE unlimited access to Reuters.com Register"Such a supply of Iranian drones to Russia would also violate United Nations Security Council Resolution 2231." Resolution 2231 endorsed the 2015 nuclear deal between Iran and six powers - Britain, China, France, Germany, Russia and the United States - that limited Tehran’s uranium enrichment activity, making it harder for Iran to develop nuclear arms while lifting international sanctions. Efforts to revive the nuclear deal have stalled and ties between Iran and the West are increasingly strained as Iranians keep up anti-government protests despite an increasingly deadly state crackdown. Legendre said Paris was coordinating with its European partners on how to respond to the potential transfer of Iranian drones to Russia.

☆ EDF's French nuclear output down 37.2% in September
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: 1 min

Companies Electricite de France SA FollowPARIS, Oct 12 (Reuters) - Nuclear power generation at EDF's (EDF.PA) French reactors fell 37.2% year-on-year in September to 18.2 terawatt hours (TWh), mainly due to the maintenance of circuits affected by stress corrosion, the utility said on Tuesday. EDF said on its website that total nuclear generation in France since the start of the year had been 209.2 TWh, down 22% compared with January-September 2021. The French utility said its September nuclear power output in Britain was up 19.9% year-on-year at 3.2 TWh, against 2.7 TWh in 2021. Total generation in Britain since the start of the year was at 33.2 TWh, up 11.2% from January-September 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Forrest Crellin; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Management at Exxon Mobil's (XOM.N) Esso France reached a deal with a majority of unions on Monday, but not the CGT. "I have therefore asked the prefects, as permitted by law, to requisition the personnel needed to the functioning of the company's depots," she said, referring to Esso France. SHORTAGES1/5 People gather during a TotalEnergies and Esso ExxonMobil workers' protest outside Esso refinery in Fos-Sur-Mer, France October 11, 2022. Esso France said it had reached a salary deal with unions on Monday. Even so, the CGT said it had not signed off on the deal, and its workers remained on strike.

Ernaux, the first French woman to win the literature prize, said winning the award was "immense". "It's a long path that she makes in her life," Swedish Academy member Anders Olsson told Reuters. "I did not imagine at the time that 22 years later, the right to abortion would be challenged," Ernaux told reporters in Paris. 1/7 French novelist Annie Ernaux talks to the media after being announced as the winner of the 2022 Nobel Prize in Literature, in Cergy-Pontoise, France October 6, 2022. "I always said that I did not want to get the Nobel prize," she told reporters at her French publisher Gallimard's office.

☆ Winter's approach sets the clock ticking for Ukraine and Russia
▼ + stars: | 2022-09-25 | by ( ) www.cnbc.com time to read: +6 min

A destroyed Russian tank is seen as Ukrainian serviceman rides a tractor and tows a Russian military vehicle, amid Russia's invasion on Ukraine, near the village of Dolyna in Kharkiv region, Ukraine September 23, 2022. Russia, meanwhile, pressed on with its call-up of hundreds of thousands of men to throw into the seven-month war, seeking to reverse its recent losses. The Russian mobilization — its first such call-up since World War II — is sparking protests in Russian cities, with fresh demonstrations Sunday. It is also opening splits in Europe about whether fighting-age Russian men fleeing in droves should be welcomed or turned away. For Ukrainian and Russian military planners, the clock is ticking, with the approach of winter expected to make fighting more complicated.

☆ French and Iranian presidents meet amid nuclear talks stalemate
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

French President Emmanuel Macron delivers a speech during a reception for France's prefects at the Elysee presidential Palace in Paris, France September 15, 2022. Ludovic Marin/Pool via REUTERS/UNITED NATIONS, Sept 20 (Reuters) - French President Emmanuel Macron held face-to-face talks with his Iranian counterpart President Ebrahim Raisi on Tuesday with the French leader saying he hoped to be able to "discuss all subjects". The meeting is Raisi's first head-to-head with a major Western leader since he was elected last year. EU foreign policy chief Josep Borrell, who coordinates the talks, said he saw little chance of progress at the United Nations General Assembly. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by John Irish; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

PARIS/MADRID/BERLIN (Reuters) - European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war. German buyers briefly reserved capacity on Monday to receive Russian gas via the Nord Stream 1 pipeline, once one of Europe’s major gas supply routes, for the first time since the line was shut three weeks ago. European politicians say that is a pretext and accuse Moscow of using energy as a weapon. Russian gas flows to Europe via Ukraine, although much reduced, have nevertheless continued. ‘NEVER’While French energy group EDF is racing to repair corrosion-hit nuclear reactors, “exceptional” measures this winter could include localised electricity cuts if the winter is cold and EDF’s plans are delayed, Wargon said.

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