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☆ Mexico president backs ruling party candidate after disputed selection process
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Mexico's President Andres Manuel Lopez Obrador and Mexico City Mayor Claudia Sheinbaum attend an event to commemorate the 200th Anniversary of the Consummation of the Independence of Mexico outside the National Palace, in Mexico City, Mexico, September 27, 2021. Lopez Obrador rejected Ebrard's demand that the primary be redone, and said he supported Sheinbaum. It's something historic, unprecedented, and I don't see any problem," Lopez Obrador said about the process where Sheinbaum beat out five other contenders. Lopez Obrador suggested Ebrard may choose to run for the presidency as an independent candidate, adding that he is free to do what he considers best. "This type of process has never been done," Lopez Obrador said, referring to the polls of some 12,500 people that resulted in Sheinbaum becoming the MORENA candidate.

Persons: Andres Manuel Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Henry Romero, Marcelo Ebrard, MORENA, Lopez Obrador, Ebrard, Lopez, Xochitl Galvez, Dave Graham, Stephen Eisenhammer, Mark Porter Organizations: Mexico City Mayor, REUTERS, Regeneration, ' Movement, Thomson Locations: Mexico, Independence, Mexico City, MEXICO, Sheinbaum

☆ European stocks extend losses as economic slowdown jitters weigh
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 4, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsSept 6 (Reuters) - European stocks extended losses for a sixth consecutive session on Wednesday as worries about global economic slowdown and higher crude prices spurring inflationary pressures weighed on risk sentiment. The pan-European STOXX 600 index (.STOXX) slipped 0.5% by 0713 GMT, hovering near a one-week low. While oil prices pulled back slightly, government bond yields continued to rise, with the German 10-year yield jumping to two-week highs. Further denting the mood, German industrial orders fell more than expected in July, the federal statistics office said.

Persons: Sruthi Shankar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, Telefonica, Saudi Arabia's STC, Spanish, Thomson Locations: Frankfurt, Germany, Saudi Arabia, Russia, Bengaluru

☆ Saudi Arabia's STC Group acquires 9.9% stake in Telefonica
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

The logo of Spanish Telecom company Telefonica is seen next to a traffic ligth at its headquarters in Madrid, Spain, May 12, 2021. REUTERS/Sergio Perez/File Photo Acquire Licensing RightsLONDON, Sept 5 (Reuters) - Saudi Arabia's STC Group has amassed a 9.9% stake in Spanish telecoms giant Telefonica (TEF.MC) for 2.1 billion euros ($2.25 billion) in shares and financial instruments, STC said on Tuesday. STC does not intend to acquire majority control of Telefonica, it added in a statement. STC is Saudi Arabia's largest telecoms operator and also owns subsidies and has stakes in companies operating in Kuwait and Bahrain. It is 64% owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), the main engine of Crown Prince Mohammed bin Salman's Vision 2030 to wean the economy off its dependence on oil.

Persons: Sergio Perez, Prince Mohammed bin Salman's, Pablo Mayo Cerqueiro, Jonathan Oatis, Richard Chang Organizations: Spanish Telecom, Telefonica, REUTERS, Saudi Arabia's, Saudi, Public Investment Fund, Thomson Locations: Madrid, Spain, Kuwait, Bahrain, Saudi, Europe

"Increasingly we are going to turn used clothes into raw material from Europe for fashion companies." Also in Spain, rivals including H&M, Mango and Inditex have created a non-profit association to manage clothing waste, responding to an EU law requiring member states to separate textiles from other waste from January 2025. OBSTACLESThe obstacles to significantly reducing clothing waste are formidable, despite the EU crackdown, industry sustainability commitments and initiatives like the Moda Re expansion. Adidas (ADSGn.DE), Bestseller, and H&M (HMb.ST) have invested in Finnish start-up Infinited Fiber Company, which manufactures fibre out of textile waste, cardboard and paper. As in Spain, textile waste associations would be set up in each country.

Persons: Albert Alberich, Inditex, Dijana Lind, Hugo Boss, Lind, Moda, Aissatou Boukoum, Mauro Scalia, Corina Pons, Helen Reid, Horaci Garcia, Nacho, Frank Jack Daniel Our Organizations: BARCELONA, Moda, Caritas, Union, European Commission, Union Investment, Adidas, McKinsey, Reuters, EU, ReHubs, Moda Re, United Nations, Inditex, Puma, Infinited Fiber Company, Thomson Locations: Spain, Barcelona, Spanish, Europe, Zara, Bilbao, Valencia, EU, Frankfurt, ReHubs Europe, Mali, Sant, AFRICA, Cameroon, Ghana, Senegal, Africa, Senegalese, Germany, Texaid, Switzerland, Vestisolidale, Italy, France, EURATEX, Madrid, London, Nacho Doce

[1/2] The logo of Italian energy company Eni is seen at the booth of Eni during the Nigeria International Petroleum Summit in Abuja, Nigeria February 10, 2020. Under the revised terms, Eni and Repsol can supply the state company with fuels, potentially helping Venezuela ease an intermittent scarcity that has led to long lines at gasoline stations in recent years. Eni and Repsol were not immediately available to respond to a Reuters request for comment. Crude received by Eni and Repsol under their swap deal has mostly been sent to Repsol's refineries in Spain. The field is run by the Petrosucre joint venture between Eni and PDVSA.

Persons: Afolabi, Repsol, PDVSA, Joe Biden's, Perla, Marianna Parraga, Francesca Landini, Pietro Lombardi, Mircely, Matt Spetalnick, David Holmes Organizations: Eni, Nigeria International Petroleum Summit, REUTERS, Companies, U.S . State Department, Kuwait Petroleum, Repsol, U.S . Treasury, PDVSA, Perla, Washington, Thomson Locations: Nigeria, Abuja, HOUSTON, Venezuela, Europe, Venezuelan, PDVSA's, Italy's Milazzo, Kuwait, U.S, Spain, Chevron, American, Venezuela's Gulf, Colombia, Milan, Madrid, Maracay, Washington

CNN —Three US Marines who died when their Osprey aircraft crashed during a military exercise in Australia have been identified by their unit. Air Force CV-22 Ospreys take off from Kirtland Air Force Base, New Mexico, for a training mission. April 8, 2010: US Air Force Osprey crashes in southern Afghanistan, killing three US service members and one civilian employee. August 5, 2017: An MV-22B Osprey crashes off the coast of Australia, leaving three Marines dead. June 8, 2022: Five US Marines die after an MV-22 Osprey crashes during a training mission Wednesday near Glamis, California.

Persons: Corporal Spencer R, Captain Eleanor V, Major Tobin J, Lewis, Collart, LeBeau, “, ”, Brendan Sullivan, Lloyd Austin, Michael Murphy, Sullivan, ” Sullivan, Markus Maier, Samuel King An, Barack Obama, Zachary Dyer, Laura Yahemiak Sailors, George Washington, Supertyphoon Haiyan, Trevor Welsh, stow, Smith, drogue, Christopher Carranza An, Todd F, Lance Cpl, Christopher Mendoza Sailors, Richard, Kevin V, Jonathan Snyder, Cedric Leighton, Bellows Organizations: CNN, Marines, Osprey, Royal Darwin Hospital, AP US, USMC, Twitter, Marine Osprey, Darwin, Northern Territory Police, Australian Defence Force, Northern, Northern Territory Government, CareFlight Air, Mobile Services, NT Health, Care, Tiwi, Government, Air Force, Ospreys, Kirtland Air Force Base, . Air Force, Staff, Air, Special Operations Squadron, Munitions, Systems, Eglin Air Force Base, Tech, Refueler, Squadron, Marine Helicopter Squadron, KC, 130J, Marine Forces Pacific, Greenland . U.S . Air Force, 3d Marine Expeditionary, U.S . Marine Corps, Tiltrotor, Supertyphoon Haiyan . U.S . Navy, Trevor Welsh Sailors, U.S . Navy, Shannon, Travis Air Force Base, 24th Marine Expeditionary Unit, . Marine Corps, Michalek, Moron Air Base, Cunningham, Tactics Squadron, of, U.S . Air Force, US Air Force, “ CNN, US Defense Department, An Air Force, Corps Locations: Australia, Melville, Northern Territory, New Mexico, Florida, Philippines, VMM, Okinawa, Japan, Brisbane, Greenland . U.S, U.S, Supertyphoon Haiyan ., San Francisco, New York, Michalek U.S, Africa, Spain, Sigonella, Italy, Field, Hamilton Island, United States, Virginia, Arizona, North Carolina, Afghanistan, Morocco, Navarre , Florida, Oahu, Hawaii, Syria, Norway, Glamis , California

Aug 25 (Reuters) - Barclays Plc (BARC.L) has hired Emma Taylor, a Goldman Sachs Group Inc (GS.N) technology banker, as global head of internet investment banking, according to an internal memo seen by Reuters. Taylor, a 20-year investment banking veteran, will be based in New York and report to Barclays global head of technology investment banking Kristin Roth DeClark, according to the memo, which was confirmed by a Barclays spokesperson. Taylor and Chan will join three other managing directors at Barclays who cover internet investment banking out of the United States and two managing directors who focus on the internet out of Europe. Last week, Barclays announced it had hired Lee Counselman from Moelis & Co (MC.N) as a managing director in its technology investment banking group focused on software transactions. She previously spent five years at Goldman Sachs, where she worked alongside Taylor on the internet team as head of global e-commerce coverage.

Persons: Emma Taylor, Taylor, Kristin Roth DeClark, Carmen Chan, Chan, Lee Counselman, Goldman Sachs, Milana Vinn, Jonathan Oatis Organizations: Barclays Plc, Goldman Sachs Group Inc, Reuters, Barclays, Thomson Locations: New York, United States, Europe, Moelis

☆ Exclusive: H&M says it will "phase out" sourcing from Myanmar
▼ + stars: | 2023-08-17 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: 1 min

LONDON, Aug 17 (Reuters) - The world's second-biggest fashion retailer H&M (HMb.ST) has decided to gradually stop sourcing from Myanmar, it told Reuters on Thursday, as reports of labour abuses in garment factories in the country increase. H&M became the latest brand to cut ties with suppliers in the country after Zara owner Inditex (ITX.MC), Primark (ABF.L), Marks & Spencer (MKS.L) and others. "After careful consideration we have now taken the decision to gradually phase out our operations in Myanmar," H&M said in an email to Reuters. "We have been monitoring the latest developments in Myanmar very closely and we see increased challenges to conduct our operations according to our standards and requirements." Reporting by Helen Reid, Editing by Matt ScuffhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Inditex, Spencer, Helen Reid, Matt Scuffham Organizations: Reuters, Thomson Locations: Myanmar, Zara

☆ Exclusive: H&M probes Myanmar factory abuses as pressure intensifies
▼ + stars: | 2023-08-16 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

The BHRRC has been tracking allegations of workers' rights abuses in garment factories since the military junta took power in Myanmar, plunging it into political and humanitarian crisis. There have been 21 cases of alleged abuses linked to Inditex suppliers over the two-year period, and 20 linked to H&M suppliers, according to the report. The Myanmar Garment Manufacturing Association did not reply to a request for comment. It expects its final orders from Myanmar suppliers to ship before the end of this year, but has also increased its presence on the ground. H&M and Bestseller are among 18 brands that are part of the European Union-funded MADE project aimed at improving labour conditions in Myanmar's garment factories.

Persons: Inditex, Spencer, Primark, we've, Karina Ufert, Vicky Bowman, Bowman, Helen Reid, Vanessa O'Connell, Marguerita Choy, Emelia Organizations: Reuters, Zara, Human Rights Resource, Myanmar Labour News, Myanmar Garment Manufacturing Association, Ethical Trade, European Union, European Chamber of Commerce, Myanmar Centre, Responsible Business, Thomson Locations: Myanmar, British, MYANMAR Spanish, Danish

Green hydrogen, produced by splitting water through electrolysis using renewable energy, is expected to play a key role in decarbonising transport and industries. But it is produced today on a very small scale and costs up to five times more than the most common hydrogen produced from natural gas, which is highly carbon-intensive. It sharply reduces the cost of electricity for the electrolysis process, which accounts for more than 70% of green hydrogen production costs, the company said. BP, which aims to sharply reduce its carbon emissions in the coming decades, is betting big on green hydrogen. By 2030, it aims to produce between 0.5 and 0.7 million tonnes per year of primarily green hydrogen.

Persons: Ron Bousso, Louise Heavens Organizations: BP Ventures, Mitsubishi Heavy Industries, Clean Energy Ventures, Gatemore Capital Management, BP, Thomson

☆ Fintech Vesttoo seeks Chapter 11 bankruptcy protection
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 14 (Reuters) - Israel-based fintech Vesttoo is seeking Chapter 11 bankruptcy protection in a U.S. court which will enable it to pursue legal action against those responsible for a fake collateral scandal, it said in a statement on Monday. Vesttoo - partly backed by Banco Santander's (SAN.MC) fintech venture capital arm Mouro Capital - has laid off staff, closed offices and appointed an interim chief executive following the discovery of fraudulent letters of credit used on its platform. Vesttoo provides insurers with access to so-called insurance-linked securities - an alternative form of reinsurance. Led by Mouro, Vesttoo last raised $80 million at a $1 billion valuation last October. In its bankruptcy filing, Vesttoo said it had appointed law firm DLA Piper and financial adviser Kroll to represent the firm.

Persons: Vesttoo, Ami Barlev, Mouro, DLA Piper, Kroll, Carolyn Cohn, Sonali Paul Organizations: Banco Santander's, Thomson Locations: Israel, U.S

☆ What Aya de León Looks For in a Good Thriller
▼ + stars: | 2023-08-10 | by ( ) www.nytimes.com time to read: +2 min

“The God of Good Looks,” by Breanne Mc Ivor. I really wish more authors would write popular fiction about the climate crisis, set in the here and now. Most of what gets called “climate fiction” falls into the category of science fiction/fantasy. Where are the popular books to accompany the building of a popular movement? In my early 20s, a dusty used paperback changed the way I saw spy fiction.

Persons: Christina Sharpe’s, ” Tressie McMillan, ” Elizabeth Acevedo’s, ” Dany Sigwalt’s “, Aurélia Durand, ”, Breanne Mc Ivor, I’ve, Reading ”, Sam Greenlee Organizations: Reading

☆ Stingy UK bank saving rates may become a non-issue
▼ + stars: | 2023-08-10 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Aug 10 (Reuters Breakingviews) - Banks are keeping the fruits of higher interest rates for themselves. Between January 2022 and May 2023, the Bank of England hiked rates by 4.25 percentage points. The nine largest UK banks boosted the interest on easy-access savings accounts by 1.18 percentage points, the FCA found. The upshot is that they’ll have to bid more aggressively for funding in the future, for example by raising interest rates on savings accounts. Second-quarter results suggest it too is paying more for funding: interest expense almost doubled between the second half of 2022 and the first half of 2023.

Persons: juicier, BoE, George Hay, Streisand Neto Organizations: Reuters, Authority, Barclays, Lloyds Banking Group, Bank of, FCA, Monday, Reuters Graphics Reuters, NatWest, Barclays ’, Lloyds, Banco Santander, Banco Bilbao Vizcaya Argentaria, European Central Bank, Bank of England, ECB, Spanish, Financial, HSBC, Santander UK, Nationwide Building Society, TSB Bank, Virgin Money, Bank, Thomson Locations: Britain, Spain, Bank of England, Italy, Hungary

☆ Too Short’s Long (and Very Raunchy) Life in Rap
▼ + stars: | 2023-08-09 | by ( Tom Breihan | ) www.nytimes.com time to read: +4 min

It’s a lesson rap has never forgotten — and only one among many it learned, in large part, from this rapper. To understand Too Short’s influence, it’s useful to consider that he found national success at a moment when rap still seemed like it might head in a very different direction. As his records crept across the country, another Oakland rapper took off like a rocket. MC Hammer was Too Short’s opposite: glitzy, energetic and so family-friendly that he had his own Saturday-morning cartoon. This failure didn’t bother Too Short: “I understand why they didn’t get it,” he says of New Yorkers.

Persons: ”, “, Snoop Dogg, P’s, Young Jeezy, Gucci Mane’s, Hammer, wouldn’t, tourmates, Dre, 2Pac, —, ” Weiss, Wu, Tang Organizations: Oakland, East Coast, Yorkers Locations: UGK, Oakland, York, Coast

☆ Israeli fintech Vesttoo names new interim CEO
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, Aug 9 (Reuters) - Israeli fintech company Vesttoo said on Wednesday it named Ami Barlev as interim chief executive officer, replacing Yaniv Bertele, who was in charge during a fake collateral scandal. The firm noted Barlev specializes in the areas of corporate governance, business development, crisis management, and managing companies in complex situations. Vesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is also in contact with regulatory bodies worldwide. Vesttoo provides insurers with access to so-called insurance-linked securities - an alternative form of reinsurance. Reporting by Steven Scheer and Carolyn Cohn; Editing by Toby Chopra and David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Vesttoo, Ami Barlev, Yaniv Bertele, Barlev, Steven Scheer, Carolyn Cohn, Toby Chopra, David Evans Organizations: Nasdaq, Banco Santander's, Thomson

☆ Japan's military is thinking about how to drop long-range cruise missiles from its biggest panes
▼ + stars: | 2023-08-08 | by ( David Cenciotti | The Aviationist | ) www.businessinsider.com time to read: +3 min

Japan is considering using its Kawasaki C-2 tactical transport aircraft to drop stand-off missiles. A Kawasaki C-2 flies around the Hawaiian Islands in September 2022. The Rapid Dragon allows the deployment of long-range cruise missiles using standard airdrop procedures from a cargo aircraft. After successful extraction, the AGM-158B JASSM-ER (Joint Air-to-Surface Standoff Missile-Extended Range) missiles extend their wings and turn on the engine. The Kawasaki C-2 is a long range twin-engine transport aircraft designed to replace the old C-1.

Persons: Makensie Cooper, JASDF Organizations: Kawasaki, Service, Japan's Defense, Japan Times, US, US Air Force, Japan's Defense Ministry, US Air Force Special Operations Command Locations: Japan, Wall, Silicon, United States

☆ Israel's Vesttoo in talks with investors over fake collateral scandal
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 7 (Reuters) - Israeli fintech company Vesttoo is in "active discussions" with potential investors to find alternative collateral for clients after discovering fake letters of credit had been used on its platform, a company spokesperson said on Monday. Vesttoo provides insurers with access to so-called insurance-linked securities - an alternative form of reinsurance. These securities may be backed by collateral in the form of letters of credit. Vesttoo was working with the markets to find alternative collateral, it said in the statement. Vesttoo said a core team of more than 50 people was working to seek alternative collateral, and the company would meet all its commitments to suppliers and consultants.

Persons: Vesttoo, Yaniv Bertele, Carolyn Cohn, David Goodman, Mark Potter Organizations: Banco Santander's, Thomson

☆ Vodafone boosted by 1&1 5G network deal in Germany
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

The headquarters of Vodafone Germany are pictured in Duesseldorf September 12, 2013. Shares in British company Vodafone rose 3% in London and 1&1 (1U1.DE) soared 15%, set for its biggest one-day gain since 2008. 1&1, the mobile phone operation of German internet provider United Internet (UTDI.DE), is building a fourth mobile network. The deal knocked shares in Telefonica Deutschland (O2Dn.DE), as 1&1 teamed up with its competitor Vodafone. Vodafone said in its statement on Wednesday that the commercial agreement with 1&1 was for 18 years, and would start to deliver the 5G coverage to 1&1 customers from the second half of 2024.

Persons: Ina Fassbender, Margherita Della Valle, Sarah Young, Danilo Masoni, Hakan Ersen Organizations: Vodafone, REUTERS, United, Telefonica Deutschland, Telefonica, Thomson Locations: Vodafone Germany, Germany, London, Telefonica Deutschland's, Madrid

☆ Hedge fund Oceanwood offers 4.4% stake in Spanish bank Unicaja
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

The logo of Unicaja bank is seen on the facade of a Unicaja bank branch in Ronda, Spain, October 26, 2022. REUTERS/Jon Nazca//File PhotoMADRID, Aug 1 (Reuters) - British hedge fund Oceanwood Capital Management is selling up to 117 million shares in Spanish bank Unicaja (UNI.MC) via accelerated bookbuilding, equal to a 4.4% stake or more than half of its total holding, bookrunner BOFA Securities said on Tuesday. At Tuesday's closing price the stake on offer was worth around 124 million euros ($136.04 million). Oceanwood holds a 7.4% stake in Unicaja. Unicaja, which is controlled by Unicaja Banking Foundation with a 30% stake, bought smaller lender Liberbank in 2020 to create Spain's fifth-largest bank with around 110 billion euros ($121 billion) in assets.

Persons: Jon Nazca, Oceanwood, bookbuilding, BOFA, David Vaamonde Juanatey, Andrei Khalip, Barbara Lewis Organizations: REUTERS, Capital Management, Securities, BOFA Securities, Citigroup Global Markets, Unicaja Banking, Thomson Locations: Ronda, Spain, Spanish, Unicaja

☆ CoCo Lee: Funeral held for singer and actress in Hong Kong
▼ + stars: | 2023-08-01 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Family and fans bade farewell to singer and actress CoCo Lee at her funeral in Hong Kong on Monday, celebrating a decades-long career that included dozens of successful albums, movies and television shows across the globe. The hearse carrying the casket of singer and songwriter CoCo Lee departs from a funeral home in Hong Kong. Tyrone Siu/Reuters‘Always sunny’Born in Hong Kong and raised in the United States, Lee launched her music career in her birthplace after winning a singing contest. Marvis Lu, 35, was among many fans from mainland China who traveled to Hong Kong for the memorial. Fans leave the funeral of singer and songwriter CoCo Lee, in Hong Kong.

Persons: CoCo Lee, Nancy, “, ’ ” Nancy Lee, Lee, Tyrone Siu, Fa Mulan, Mulan ”, Ang Lee, David Tao, Wang Leehom, Vanness Wu, Jin, MC Jin, “ Singer, ”, Marvis Lu, “ CoCo, Catherine Yang, “ CoCo Lee, Jonathan Serbin Organizations: Hong Kong CNN, Reuters, Getty, Weibo, Warner Music Asia Locations: Hong Kong, United States, Asia, Taiwan, Shanghai, China

☆ Mahogany L. Browne's Love Letter to Hip-Hop
▼ + stars: | 2023-08-01 | by ( Mahogany L. Browne | ) www.nytimes.com time to read: +4 min

Latto, “Put It on da Floor Again” (2023)The video for this song featured, among others, the L.S.U. ), Lil’ Kim shot to stardom with her debut solo single, “No Time,” which was eventually certified gold by the Recording Industry Association of America. Benzino, “Rock The Party” ft. Mario Winans (2002)Might this be the only rap single recorded by a magazine mogul to hit the Billboard charts? The rapper Benzino, real name Raymond Leon Scott, was a co-owner of the iconic hip-hop magazine The Source. Benzino, “Rock The Party” ft. Mario Winans (2002)I’m a boss in a skirt, I’m a flirt.

Persons: Warren G, Tupac Shakur, Michael McDonald’s “, Lil Wayne, Lil Wayne’s “ Tha Carter, phenom, Rip, Angel Reese, “, ”, MC Lyte, Sean “ Diddy ” Combs, Missy Elliott, Slick Rick, Slick Rick’s, Eric B, Momma, Miss Ivana, Lil ’ Kim, Charlie Wilson, Big Sean, Mario Winans, Benzino, Raymond Leon Scott, Anna Wintour, spinnin, I’m, York ” Organizations: New, Tigers, Party, Public, Biz, Recording Industry Association of America, Pitchfork, YG, VH1 Locations: New Orleans, Manhattan, :, York

☆ Silver Lake raises 1 bln euros in loans for Software AG takeover
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 1 (Reuters) - Silver Lake (SILAK.UL) on Tuesday raised a 1 billion euro ($1.10 billion) seven-year loan to fund its takeover of Germany's Software AG (SOWGn.DE), breathing new life into the sluggish syndicated leveraged loan market. The loan is split between 640 million euros and $405 million, paying a margin of 475 basis points (bps) over the benchmark rate, according to a term sheet seen by Reuters. On July 20, the U.S. private equity firm announced it had secured a 84.29% stake in Software AG, subject to closing of the tender offer, adding that the transaction was expected to close in the fourth quarter pending regulatory approvals. Software AG shares were last up 0.3% on the day in Frankfurt. They have fallen by 13% since hitting a multi-month high after Silver Lake's offer in April this year.

Persons: Silver, Chiara Elisei, Amanda Cooper Organizations: Germany's Software AG, Reuters, Banks, JPMorgan, Citigroup, Banco Santander, Software AG, Thomson Locations: U.S, Frankfurt

☆ Russia's fighter jets have gone from harassing US aircraft to actually breaking them as Moscow flexes its muscles where it still can
▼ + stars: | 2023-07-28 | by ( Jake Epstein | ) www.businessinsider.com time to read: +12 min

Russian fighter jets have harassed US military drones on numerous occasions throughout July. That incident is just one of several demonstrations of Russian aggression around US military drones this month. Russian military Su-34 and Su-35 aircraft employ flares in the flight path of a US MQ-9 aircraft on July 6, 2023 over Syria. A press officer who goes by callsign Damian looks at a destroyed Russian military vehicle in Novodarivka village, Zaporizhzhia Region, southeastern Ukraine. "These maneuvers, they are to some extent intended to demonstrate Russian military strength," which could appease the country's domestic audience.

Persons: Nicholas Lokker, Alexus Grynkewich, Sabrina Singh, Su, Wagner, Yevgeny Prigozhin, Vladimir Putin, Damian, Putin, Lokker, Assad, Äzzeddin Kasim, Paul Lushenko, Lushenko, Christopher Sommers, AFCENT Organizations: Kremlin, Service, Center, New, New American Security, Islamic, US Air Force, ISIS, US Air Forces Central Command, Pentagon, Donetsk Regions, US, Anadolu Agency, Getty, US Army, Islamic Revolutionary Guard Corps, Quds Force, 421st Expeditionary Fighter Squadron, U.S . Central Command Locations: Wall, Silicon, Syria, Russia, Russian, Ukraine, New American, Moscow, Syria . Washington, Islamic State, Washington, CNAS, Belarus, Novodarivka, Zaporizhzhia Region, Zaporizhzhia, Ukrainian, Iran, Idlib, United States, Western

☆ BBVA plans 1 bln euro buy-back as Mexico, Spain drive profits
▼ + stars: | 2023-07-28 | by ( Jesús Aguado | ) www.reuters.com time to read: +3 min

The Spanish bank also announced a 1 billion euro share buy-back programme. It follows a smaller additional share buy-back earlier this year and a 3.2 billion euro programme it completed in 2022. In the case of Caixabank, the new buy-back programme follows a 1.8 billion euros share buy-back in 2022. In Mexico, the bank's net profit rose 32% while net interest income climbed 38%. In Spain, net profit more than tripled versus a year earlier while NII was up 51%.

Persons: BBVA's, Jefferies, NII, Jesús Aguado, Emma Pinedo, Inti Landauro, Jason Neely, Robert Birsel Organizations: BBVA, Reuters, Thomson Locations: MADRID, Mexico, Spain, Turkey, Caixabank, Turkish

☆ Caixabank's quarterly net profit jumps 48%, announces 500 mln euro share buy-back
▼ + stars: | 2023-07-28 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

The country's biggest lender by domestic assets reported a net profit of 1.28 billion euros ($1.41 billion), ahead of 1.16 billion euros analysts forecast in a Reuters poll. The bank also announced a 500 million euro share buy-back programme that would begin before the end of 2023 and is aimed at distributing capital above the 12% threshold. Last year, the lender bought back 1.8 billion euros of shares. Caixabank's net interest income, earnings on loans minus deposit costs, rose 60.7% year-on-year in the quarter to 2.44 billion euros, above the 2.29 billion euros analysts expected. The lender also said that recent commercial trends implied upside over its more than 30% growth guidance for net interest income in 2023.

Persons: Caixabank, Jesús Aguado, Inti Landauro, Tomasz Janowski Organizations: Thomson Locations: NII, MADRID, Banks, Europe

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