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The European common currency fell 0.4% to $1.1083 , skidding after a quiet Asian session on PMI data that showed euro zone business activity shrank much more than expected in July. The pound dropped after British activity data, but less dramatically and was last down 0.1% at $1.2839. The yen strengthened with the dollar down 0.47% at 141.2 yen , and the euro down 0.7% at 156.6 yen. The Swiss franc was steady at 0.8648 per dollar, and the dollar index was up 0.1% at 101.2. Reporting by Tom Westbrook; Editing by David Holmes and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Harvey, Bob Savage, Tom Westbrook, David Holmes, Jacqueline Wong Organizations: SYDNEY, PMI, Reserve, European Central Bank, Bank of Japan, Investors, ECB, Fed, U.S, BNY Mellon, The Bank of Japan, Reuters, Commonwealth Bank of Australia, Swiss, Thomson Locations: LONDON, Europe, United States, Ukraine

☆ Sorrell's ad group S4 lowers outlook over wary tech clients
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

SummaryCompanies Co slashes FY revenue growth outlook to 2%-4%Says content business has been difficultShares down 20%July 24 (Reuters) - Martin Sorrell's S4 Capital (SFOR.L) cut its forecasts for annual revenue growth and core profit margin on Monday as tech clients dialled back marketing spend, sending the advertising group's shares down 20%. Last week, U.S.-based peers Interpublic (IPG.N) and Omnicom (OMC.N) also announced weak results that underscored the growing pressures on ad agencies. S4, founded by Sorrell after he left WPP (WPP.L), the world's largest ad group, said it now expects full-year like-for-like net revenue growth of between 2% and 4%, compared with an earlier forecast of 6%-10%. It expects an operational core profit margin of between 14.5% and 15.5%, down from 15%-16% forecast previously. In the first-half trading update, the company said revenue growth is expected to be about 5%, adding that performance in its content business has been more difficult.

Persons: Martin, Interpublic, Sorrell, Aby Jose Koilparambil, Eva Mathews, Dhanya Ann Thoppil, David Holmes Organizations: WPP, Thomson Locations: Bengaluru

☆ India's economy to hold top spot for GDP but not so much for jobs growth: Reuters poll
▼ + stars: | 2023-07-24 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

The world's most populous country aspires to leapfrog to the status of a developed nation, riding on the unprecedented demographic dividend, which demands an annual gross domestic product (GDP) growth rate of around 8% for the next 25 years. It was forecast to grow 6.5% next fiscal year, with expectations of 6.2% growth this quarter, followed by 6.0% and 5.5%. "I think 6.0% to 6.5% is a very achievable and a very conservative forecast for India's growth trajectory," Nim added. The remaining six said the PLI scheme, which allocated billions of rupees as incentives from the Union budget in 2023-24, will have no impact. While India has a lot more ground to cover to replace China as the world's manufacturing hub, some economists acknowledged the PLI scheme was a step in the right direction.

Persons: Dhiraj Nim, Nim, Ajay Banga, Radhika Piplani, PLI, Piplani, Suman Chowdhury, Milounee Purohit, Susobhan Sarkar, Veronica Khongwir, Hari Kishan, David Holmes Organizations: ANZ Research, World, Capital Advisors, Union, Thomson Locations: BENGALURU, China, People's Republic, India

SummaryCompanies Order intake down 8% in April-June periodQ2 EBITA 453 mln eur vs forecast 394 mln2023 EBITA margin now seen at upper end of provided rangeShares fall 5%July 24 (Reuters) - Health technology group Philips (PHG.AS) posted a fourth straight drop in order intake on Monday and warned that it expects global market conditions to remain highly uncertain, sending its shares down 5% from a recent 12-month high. The Amsterdam-based group, a former industrial conglomerate that now focuses on medical technology, said order intake had decreased 8% in the April-June period, the fourth quarterly fall in a row. Philips generates 15% of group sales in the People's Republic. New licensing requirements for its healthcare products in Russia were responsible for half the quarterly order decline, Jakobs said. ($1 = 0.8992 euros)Reporting by Diana Mandiá; Editing by Kirsten Donovan and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Roy Jakobs, Jakobs, Philips, Abhijit Bhattacharya, Diana Mandiá, Kirsten Donovan, David Holmes Organizations: Health, Philips, European Union, ING, Thomson Locations: Amsterdam, United States, China, East, Turkey, Latin America, People's Republic, Russia, Ukraine

OTTAWA, July 24 - Canada's Liberal Prime Minister Justin Trudeau is planning to reshuffle his cabinet this week, likely replacing ministers deemed to have struggled in their posts or who are not planning on running again in the next election, two government sources said. It is common for cabinet members to clear their schedules and be called to Ottawa ahead of a reshuffle. Speaking to reporters in Toronto, the 72-year-old minister did not say whether she would stay in government in the meantime, adding only that she would do "whatever the prime minister wants me to do". The most influential ministers including Deputy Prime Minister and Finance Minister Chrystia Freeland, Foreign Minister Melanie Joly, Innovation Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson are expected to keep their jobs. Trudeau won a parliamentary majority in 2015 but was reduced to leading a minority government after elections in 2019 and 2021.

Persons: Justin Trudeau, Trudeau, Carolyn Bennett, Marco Mendicino, Chrystia Freeland, Melanie Joly, Francois, Philippe Champagne, Jonathan Wilkinson, Steve Scherer, David Ljunggren, Deepa Babington, David Holmes Organizations: OTTAWA, Canada's Liberal, Canadian Broadcasting Corp, Mental, Liberal, Monday, Public Safety, Finance, Innovation, Natural Resources, New Democrats, Conservatives, Liberals, Thomson Locations: Ottawa, Toronto

☆ Russia accuses Ukraine of 'terrorism' after drone strike near Moscow army HQ
▼ + stars: | 2023-07-24 | by ( Andrew Osborn | ) www.reuters.com time to read: +4 min

The drone attack, though not serious in terms of its human cost or damage, was the most high-profile of its kind since two drones reached the Kremlin in May. [1/5]A member of the security services investigates the damaged building following a reported drone attack in Moscow, Russia, July 24. Russian Foreign Ministry spokeswoman Maria Zakharova told the RTVI TV channel Ukraine was guilty of what she called "an act of international terrorism." Citing emergency services, Russian state news agencies reported that drone fragments had been found near a building on Komsomolsky Avenue, which runs through Moscow. After May's drone attack on the Kremlin, U.S. drone experts concluded they might have been launched from inside Russia.

Persons: Nobody, Volodymyr Zelenskiy, Maxim Shemetov, Mykhailo Fedorov, Fedorov, Maria Zakharova, Sergei Sobyanin, Andrew Osborn, Lidia Kelly, Simon Cameron, Moore, David Holmes, Bernadette Baum Organizations: Defence Ministry, Defence, Russian, Reuters, Kremlin, Russian Defence Ministry, Odesa, REUTERS, ACT, Foreign Ministry, Moscow, Thomson Locations: Russia, Moscow, Ukraine, MOSCOW, Crimea, Russian, Ukrainian, U.S, Melbourne

"The oil market is starting to slowly price in a looming supply crunch," Price Futures Group analyst Phil Flynn said. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. A shutdown of the grain corridor could hit supplies of ethanol and biofuels that are blended with oil products at a time that global grain markets are already tightening, which would lead to refiners using more crude oil, Flynn said. Meanwhile, U.S. energy firms this week reduced the number of oil rigs by seven, their biggest cut since early June, energy services firm Baker Hughes said. At 530, the U.S. oil rig count, an early indicator of future output, is at its lowest since March 2022.

Persons: WTI, Phil Flynn, Flynn, Baker Hughes, Suhail, Mazrouei, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Brent, U.S . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, Bengaluru, London, Houston, Beijing

☆ Global shares slip, dollar soars vs yen on BoJ policy expectations
▼ + stars: | 2023-07-21 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The yen weakened 1.19% to 141.77 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.31%. "None of them are happening with massive severity, but the longer we go on with higher rates, more and more that's going to come through," he said. BOJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. "Markets were building up expectations which now look unlikely to play out," said Guillaume Paillat, a multi-asset manager at Aviva Investors.

Persons: Brendan McDermid, BoJ, Dow, Garrett Melson, Mullarkey, Patrick Spencer, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Nasdaq, Investment, Microsoft Corp, Apple Inc, SLC Management, Baird, Microsoft, Apple, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, London, MSCI's U.S, Europe, China, Sydney

Brent crude futures rose $1.43, or 1.8%, to settle at $81.07 a barrel. U.S. West Texas Intermediate crude futures rose $1.42, or 1.9%, to settle at $77.07 a barrel, the highest since April 25. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," Price Futures Group analyst Phil Flynn said. In the U.S., crude inventories (USOILC=ECI) have fallen, amid a jump in crude exports and higher refinery utilisation, the Energy Information Administration (EIA) said on Wednesday. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Brent, Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Friday, Brent, . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, Infrastructure Capital Management, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

WASHINGTON, July 21 (Reuters) - Former President Donald Trump's trial over his alleged mishandling of classified documents will begin on May 20 next year, according to a U.S. court order on Friday. Trump's lawyers had resisted setting a date but said any trial should take place after the November 2024 U.S. presidential election, in which he is front-runner for the Republican nomination. A Trump spokesperson said the trial schedule "allows President Trump and his legal team to continue fighting" the criminal case. The case is one of several legal woes Trump faces as he campaigns for 2024. He said on Tuesday he had received a letter saying he is a target of a grand jury investigation into efforts to overturn his 2020 presidential election defeat.

Persons: Donald Trump's, Trump's, Trump, Jack Smith's, Friday's, Aileen Cannon, Cannon, Katharine Jackson, Jacqueline Thomsen, John Stonestreet, David Holmes Organizations: Republican, Trump, U.S, Thomson Locations: U.S, Fort Pierce , Florida, Manhattan

Gold prices slipped as the dollar rebounded to its highest level in more than a week as investors prepare for next week's big central bank policy meetings, including the BoJ, the U.S. Federal Reserve and the European Central Bank. The yen weakened 1.13% to 141.68 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.36%. BoJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. As Japanese inflation has stayed above the BoJ's target, traders have bet on the central bank ditching its yield curve control program, a move likely to cause the yen to strengthen.

Persons: Brendan McDermid, BoJ, Garrett Melson, Patrick Spencer, Spencer, you've, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Investment, Nasdaq, Baird, Microsoft Corp, Apple Inc, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, Europe, China, London

☆ U.S. House committees investigate Ford Chinese battery partnership
▼ + stars: | 2023-07-21 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File PhotoWASHINGTON, July 21 (Reuters) - Two U.S. House of Representatives committees said Friday they are investigating Ford Motor Co's (F.N) partnership with Chinese battery company CATL (300750.SZ). Ford announced in February it is spending $3.5 billion to build a battery plant in Michigan using technology from CATL, the world's largest battery maker. The committees said several hundred of the 2,500 Ford plant jobs will be filled by CATL employees from China who will be in charge of setting up and maintaining equipment. Ford still is awaiting guidance from the U.S. Treasury to ensure the partnership does not run afoul of the requirement. Republican Senator Marcio Rubio has urged the Biden administration to investigate the deal and introduced legislation that seeks to bar consumer tax credits for EVs produced using CATL technology.

Persons: Brendan McDermid, Jason Smith, Mike Gallagher, Ford, CATL, Marcio Rubio, Biden, EVs, David Shepardson, Jonathan Oatis, David Holmes Organizations: North American, REUTERS, WASHINGTON, House, Ford Motor, Ford, Chinese Communist Party, U.S . Treasury, Republican, Thomson Locations: Detroit , Michigan, U.S, Michigan, CATL, China, United States, Xinjiang, Beijing

Brent crude futures rose 90 cents, or 1.1%, to $80.54 a barrel by 11:36 a.m. EDT [1536 GMT]. U.S. West Texas Intermediate futures rose 97 cents, or 1.3%, to $76.62 a barrel. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," said Price Futures Group analyst Phil Flynn. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Conor Humphries, David Holmes Organizations: Brent, . West Texas, Futures, UN, Energy Information Administration, UAE Energy, Reuters, Infrastructure Capital Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

☆ Yen slides after sources say Bank of Japan leaning to holding key policy
▼ + stars: | 2023-07-21 | by ( Iain Withers | ) www.reuters.com time to read: +4 min

BoJ policymakers prefer to scrutinise more data to ensure wages and inflation keep rising before changing the policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. The dollar was heading for its biggest one-day gain versus the yen since April, rising as much as 1.3% to a nearly two-week high of 141.95. Prior to the report, the dollar had been up around 0.3% versus the yen. The dollar index - which tracks the greenback against six major peers including the yen - was last up 0.3% at 101.040.

Persons: Kenneth Broux, Broux, Kazuo Ueda, Masato Kanda, Scherrmann, Iain Withers, Ankur Banerjee, Angus MacSwan, David Holmes Organizations: Reuters, Bank of Japan, Trade, FX, Societe Generale, Ministry of Finance, Federal Reserve, European Central Bank, Thomson Locations: Europe, United States, U.S, Singapore

☆ Oil climbs, fuelled by tighter supplies, China stimulus
▼ + stars: | 2023-07-21 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up $1.02 at $80.66 a barrel by 1134 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1 to $76.65 a barrel. "Demand from China and India could therefore shift more towards other suppliers, which would push up oil prices," the analysts said. "That tightness in supply is already showing up in inventories," analysts from ANZ Bank said. "The announcement remains short on detail but notions of China buying more cars gives rise in hope for oil investor bulls," PVM analyst John Evans said.

Persons: Brent, John Evans, Natalie Grover, Arathy Somasekhar, Andrew Hayley, Louise Heavens, David Holmes Organizations: U.S, West Texas, Energy Information Administration, ANZ Bank, Thomson Locations: China, Russia, India, Saudi Arabia, U.S, London, Houston, Beijing

☆ World's biggest permafrost crater in Russia’s Far East thaws as planet warms
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BATAGAI, Russia, July 21 (Reuters) - Stunning drone footage has revealed details of the Batagaika crater, a one kilometre long gash in Russia's Far East that forms the world's biggest permafrost crater. "We locals call it 'the cave-in,'" local resident and crater explorer Erel Struchkov told Reuters as he stood on the crater's rim. The "gateway to the underworld," as some locals in Russia's Sakha Republic also call it, has a scientific name: a mega-slump. "In future, with increasing temperatures and with higher anthropogenic pressure, we will see more and more of those mega-slumps forming, until all the permafrost is gone," Tananayev told Reuters. "With an increasing air temperature we can expect (the crater) will be expanding at a higher rate," he said.

Persons: Erel Struchkov, Nikita Tananayev, Tananayev, Struchkov, aren't, Lucy Papachristou, Andrew Osborn, David Holmes Organizations: Reuters, Thomson Locations: BATAGAI, Russia, Russia's Sakha Republic, Yakutsk, Sakha

Trump's lawyers had resisted setting a date but said any trial should take place after the November 2024 U.S. presidential election, in which he is front-runner for the Republican nomination. A Trump spokesperson said the trial schedule "allows President Trump and his legal team to continue fighting" the criminal case. Former U.S. President and Republican presidential candidate Donald Trump gestures as he speaks during the Turning Point Action Conference in West Palm Beach, Florida, U.S. July 15, 2023. The case is one of several legal woes Trump faces as he campaigns for 2024. He said on Tuesday he had received a letter saying he is a target of a grand jury investigation into efforts to overturn his 2020 presidential election defeat.

Persons: Donald Trump's, Trump's, Trump, Jack Smith's, Friday's, Aileen Cannon, Donald Trump, Marco Bello, Cannon, Katharine Jackson, Jacqueline Thomsen, John Stonestreet, David Holmes Organizations: Republican, Trump, U.S, Former U.S, Conference, REUTERS, Thomson Locations: U.S, Fort Pierce , Florida, Former, West Palm Beach , Florida, Manhattan

☆ Terra Firma founder Guy Hands steps down from company's helm
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

"When I founded Terra Firma over 20 years ago, I vowed that I would retire from the firm 'when I'm 64', as per the eponymous Beatles song. Terra Firma will be led by Guy's son and managing director Richard Hands and its chief operating officer Paul Hatter, the company said in a statement. Guy Hands founded Terra Firma in 2002 through the spin-out of Japanese bank Nomura's Principal Finance Group (PFG), which he used to lead. Terra Firma is now invested in 39 companies with an aggregate enterprise value of 51 billion euros ($56.7 billion), according to the company's website. Other business backed by Terra Firma include Australian cattle company CPC.

Persons: Guy Hands, Guy's, Richard Hands, Paul Hatter, Terra, Hands, Julia, Pablo Mayo Cerqueiro, Iain Withers, Louise Heavens, David Holmes Organizations: Terra Firma Capital Partners, EMI, Terra Firma, Reuters, Sky News, Nomura's, Finance Group, Citigroup, CPC, Thomson

☆ Israeli military assessing reservists' protest letter over judicial overhaul
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Ronen ZvulunJERUSALEM, July 21 (Reuters) - Israel's military said on Friday it was examining the impact of a letter sent by air force reservists who threatened to stop volunteering for service if the government goes ahead with a planned judicial overhaul. Spokesperson Daniel Hagari said the military was checking details of the letter that he said was initialled by more than 1,100 reservists and "accordingly, will examine the implications". The letter, published in Israeli media without listing the signatories, was the latest sign of opposition within the military to judicial changes being pushed by Prime Minister Benjamin Netanyahu's religious-nationalist coalition. Air force veterans say reservists who volunteer after completing their mandatory military service make up around half of crews sent on combat sorties. On Monday, Netanyahu pledged to crack down on no-shows for military reserve duty, which he said risked inviting attack by Israel's foes and undermining its democracy.

Persons: Benjamin Netanyahu, Daniel Hagari, Benjamin Netanyahu's, Bezalel Smotrich, Yoav Gallant, Hagari, Netanyahu, Henriette Chacar, Ari Rabinovitch, Alison Williams, David Holmes Organizations: Protesters, Israeli, REUTERS, Critics, ., Reuters, Thomson Locations: Shoresh, Israel, Jerusalem, Ronen, JERUSALEM

The decree fulfills a campaign promise by Lula, who criticized looser gun controls under Bolsonaro, arguing they were responsible for a wave of political violence during last year's election. The country has nearly 800,000 registered gun owners, up from 117,467 in 2018 when Bolsonaro was elected, according to the 2023 Brazilian Yearbook of Public Security. Lula's decree rolled back firearms access for that group. Lula's decree also closes a loophole that allowed many gun owners to go out in public with loaded weapons if they claimed to be going to a gun club. Gun owners who bought their weapons during the previous administration will not be forced to give them up, but the decree envisages a buyback program starting this year.

Persons: Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Bolsonaro, Lula's, Lisandra, Gabriel Stargardter, Brad Haynes, David Holmes, Richard Chang Organizations: of Public Security, Brazilian Armed Forces, CAC, Gun, Thomson Locations: BRASILIA, Brazil, Brasilia, Rio de Janeiro

North America revenue for the current quarter will be slightly down, Chief Executive Olivier Le Peuch said in a post-earnings conference call with analysts, saying activity in the region was moderating. However, the company expects third quarter revenue from international markets to grow by a mid-single digit percentage, citing a resurgence in offshore and Middle East drilling. In comparison, last quarter's international revenue rose 21% to $6.3 billion and North America's climbed 14% to $1.75 billion. Analysts at Tudor Pickering Holt noted that international revenue missed its estimate by $1 billion, while North America slightly topped its forecast. Revenue of $8.1 billion fell slightly below analysts' estimate of $8.2 billion.

Persons: Baker Hughes, Olivier Le Peuch, America's, Tudor Pickering Holt, Peter McNally, Arathy Somasekhar, Arunima Kumar, Sriraj Kalluvila, David Holmes, Nick Zieminski Organizations: Schlumberger, Halliburton, North America, Thomson Locations: HOUSTON, America, North America, Tudor, Houston, Bengaluru

☆ Global equity funds see first weekly outflow in four weeks
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

July 21 (Reuters) - Global equity funds witnessed their first weekly outflow in four weeks in the week to July 19, reflecting concerns over slower growth in China and caution ahead of the Federal Reserve's policy meeting next week. According to Refinitiv Lipper data, global equity funds observed a net $2.67 billion worth of net selling in the week ended July 19, booking their first weekly outflow since June 21. Investors withdrew $3.04 billion from U.S. equity funds while purchasing Asian and European equity funds to the tune of $609 million and $336 million, respectively. Government and corporate bond funds attracted $627 million and $724 million worth of inflows, respectively. Meanwhile, data for 24,134 emerging market funds showed equity funds received $1.1 billion, the biggest weekly inflow since May 3, while bond funds obtained about $568 million, marking a third straight weekly inflow.

Persons: Gaurav Dogra, Patturaja, David Holmes Organizations: Global, Reuters Graphics Reuters, U.S . Commerce Department, Investors, Government, Thomson Locations: China, Bengaluru

☆ Twitter to subpoena Senator Elizabeth Warren over communications with U.S. agencies
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 20 (Reuters) - Twitter, which has asked a court to terminate a consent order struck last year with the Federal Trade Commission (FTC) related to data breaches, said in a court filing on Thursday that it planned to subpoena Senator Elizabeth Warren in connection with the fight. After billionaire Elon Musk took over Twitter last year, the company laid off thousands of employees and drastically cut costs, prompting questions about whether it had the resources to comply with the FTC consent order. Twitter asked last week for the consent order to be scrapped, accusing the FTC of bias and overreach in filings in federal court in San Francisco. The court filing on Thursday said the subpoena to Warren requested communications regarding Twitter or its owner Elon Musk between her office and the FTC, as well as her office and the Securities and Exchange Commission. Twitter responded to a request for comment by sending a poop emoji, as is its standard practice.

Persons: Elizabeth Warren, Elon Musk, Warren, Twitter, Diane Bartz, David Holmes Organizations: Federal Trade Commission, Twitter, FTC, Securities and Exchange Commission, SEC, Justice Department, Thomson Locations: San Francisco

☆ Flagstar Bank hires six First Republic teams to expand private banking
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

July 20 (Reuters) - Flagstar Bank, a subsidiary of New York Community Bancorp (NYCB.N), said on Thursday it has hired six private client banking teams from the now-defunct First Republic Bank. Three of the teams are based on the West Coast and three teams are based in New York City, the bank said in a statement. Flagstar Bank also bought deposits and loans of New York-based Signature Bank from U.S. regulators after Signature was closed in March. The recruitment from First Republic is the second major hire of its private bankers by a regional bank after it was seized by regulators and bought by JPMorgan (JPM.N) in May. Citizens Financial Group (CFG.N) recently added 50 new senior private bankers and another 100 support staff in Boston, Florida, New York and San Francisco, mostly from First Republic.

Persons: Banks, Morgan Stanley, Manya Saini, Saeed Azhar, David Holmes Organizations: Flagstar Bank, New York Community Bancorp, Republic Bank, West Coast, Bank, Signature, JPMorgan, Citizens Financial, First, Wall, Bank of America, Thomson Locations: West, New York City, New York, U.S, Republic, Boston , Florida , New York, San Francisco, First Republic, Bengaluru

☆ United CEO confirms airline faces problem finding pilots to take captain's chair
▼ + stars: | 2023-07-20 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, July 20 (Reuters) - United Airlines (UAL.O) CEO Scott Kirby has acknowledged that the carrier's pilots are shunning promotion to the captain's chair, hurting its flight capacity in the fourth quarter, confirming what Reuters reported earlier this week. At United, bids for 978 captain vacancies, or about 50% of the vacancies posted, have gone unfilled in the past year, United pilot union data shows. Currently, United has about 5,900 captains and 7,500 first officers, according to union data. A captain's pay is better, but junior captains face greater risks of being subject to unpredictable flying schedules, more on-call duty and assignments at short notice. Kirby said the contract has already made a difference and led to a better response in the latest bidding for captain vacancies.

Persons: Scott Kirby, Kirby, Rajesh Kumar Singh, David Holmes Organizations: United Airlines, Reuters, United, Airlines, Pilots, Thomson Locations: Chicago

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