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☆ Explainer: Europe set to import banned Russian diesel without knowing
▼ + stars: | 2022-12-07 | by ( Rowena Edwards | ) www.reuters.com time to read: +6 min

The European Union banned Russian crude imports from Dec. 5 and will ban Russian oil products from Feb. 5, as it attempts to deprive Russia of oil revenues. Blending Russian diesel elsewhere with a non-Russian equivalent would not change its origin, while refining Russian Urals crude into diesel elsewhere would. Russian diesel is likely to be delivered to and re-exported from countries such as India and Turkey, market sources said. Europe has already started to replace Russian diesel imports with refined product from the Middle East, but analysts also expect India to refine more Urals and increase diesel exports to Europe. Many of the larger oil companies, including BP (BP.L) and Shell have self-imposed sanctions on Russian oil and oil products.

☆ Deutsche bank, Rabobank hit with EU antitrust charge over bond cartel
▼ + stars: | 2022-12-06 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

[1/2] People are silhouetted next to the Deutsche Bank's logo prior to the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai PfaffenbachBRUSSELS, Dec 6 (Reuters) - Deutsche Bank (DBKGn.DE) and Rabobank (RABO.UL) were charged by EU antitrust regulators on Tuesday of taking part in a government bond cartel, the latest move against a sector which has racked up millions of euros in fines for various competition violations. Deutsche Bank said it does not expect any sanction, suggesting that it may have alerted the cartel to the authorities. "Deutsche Bank has proactively cooperated with the European Commission in this matter and as a result has been granted conditional immunity. In accordance with the European Commission’s guidelines, Deutsche Bank does not expect a financial penalty," the German lender said.

☆ Rotterdam Port to house Battolyser plant for green hydrogen production
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

Companies Havenbedrijf Rotterdam NV FollowAMSTERDAM, Nov 28 (Reuters) - The Port of Rotterdam on Monday said it will help develop a 14,000 square metre factory for Battolyser Systems, a company that designs combined battery and green hydrogen production machines. "Companies in the port are already actively working on projects regarding production, imports, shipping, storage and use of green hydrogen," port CEO Allard Castelein said in a statement. "With this factory we add green hydrogen equipment manufacturing to that portfolio." The idea is that during the day, when electricity from wind and solar power is cheap and abundant, the battery will charge and convert power to hydrogen. With many Dutch companies seeking to replace natural gas with hydrogen, demand for electrolysers is expected to rise.

☆ BP's Rotterdam refinery management, union to talk on Monday
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: 1 min

Companies Bp Plc FollowAMSTERDAM, Nov 26 (Reuters) - Unions representing workers at BP's (BP.L) large Rotterdam refinery said on Saturday they plan to hold talks with management on Monday, in a possible step toward resolving a pay dispute that has left the plant idled for more than a week. In addition, spokesman Jaap Bosma of the CNV union said workers at the plant are planning to restart one facility at the refinery, Crude Distillation Unit 4 (CDU4), on Monday. Reporting by Toby Sterling, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Netherlands in talks with U.S. on China chip policy - Dutch trade minister
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Nov 25 (Reuters) - Dutch trade minister Liesje Schreinemacher said on Friday the Netherlands is in talks with the U.S. government about new export restrictions for semiconductor equipment to China. New U.S. export restrictions on chip equipment announced in October reach beyond currently agreed international definitions of what constitutes dual-use equipment. "Well we are having talks with the U.S., obviously they have announced their unilateral measures," Schreinemacher told reporters in Brussels. "We do share the concerns that they (the U.S. government) have when it comes to China, when it comes to security," Schreinemacher said. At the G20 conference in Bali, Chinese President Xi Jinping called on Dutch Prime Minister Mark Rutte to resist "the politicisation of economic and trade issues."

☆ Mobile operator Veon to sell Russian business for $2.2 bln
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +2 min

Veon also operates Beeline in Kazakhstan and Kyivstar in Ukraine. Veon said the management buyout of Vimpelcom implied an expected enterprise value of approximately 370 billion roubles. Though Veon is selling at a discount, the transaction represents a relatively rare example of money changing hands between parties as companies race to exit Russia. The shares have traded near record lows since tumbling after Russia began what it calls its "special military operation" in Ukraine. "The management buyout of our Russian operations will benefit all involved," Veon CEO Kaan Terzioglu said in a statement to Reuters.

☆ FDA says Philips filed 21,000 reports on bad foam Aug-Oct.
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 23 (Reuters) - The U.S. Food and Drug Administration (FDA) on Wednesday said Philips filed 21,000 medical device reports in connection with faulty foam in its ventilation and sleep apnoea devices in the Aug-Oct 2022 period. Philips has been recalling 5.5 million such devices since June 2021 after it became aware that a foam part can deteriorate and threaten users' health. In a statement, Philips said that it believes the large number of reports are a result of publicity around the issue, which has wiped 30 billion euros off its market valuation. "The vast majority, 93%, of the approximately 90,000 medical device reports filed since April 2021 are alleged technical malfunctions that do not involve serious injury," the company said. Reporting by Toby Sterling, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ 'OneLove' anti-hate armbands sell out after FIFA World Cup ban
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

[1/5] A worker carries One Love armbands, which are banned by FIFA at the World Cup Qatar 2022, in Utrecht, Netherlands November 23, 2022. The "OneLove" armbands FIFA banned at the World Cup in Qatar are suddenly selling like hotcakes. Now the company that makes the bands in Utrecht, the Netherlands, says it is sold out after shipping 10,000, mostly in the past two weeks. "The big boom came actually with the World Cup coming up and for sure the statement of FIFA to not allow these captain bands on the field", said Badge Direct BV CEO Roland Heerkens in an interview. A new batch of 10,000 will be sold on the KNVB web shop and Voetbalshop.nl when it becomes available.

☆ Philips recalls some previously replaced ventilators -FDA statement
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 21 (Reuters) - Philips (PHG.AS), which has been struggling with a major recall of ventilators, is recalling some machines it has previously replaced, according to an FDA statement. A Philips spokesperson said on Monday that only Trilogy 100/200 venilator models were potentially affected. The FDA said the company had notified it that the sound abatement foam could come loose in some refurbished models, "lowering the inspiratory pressure". Philips has replaced more than 4 million ventilators and sleep apnoea machines over the past 18 months due to worries that foam used in the machines could become toxic. The spokesperson said Trilogy 100/200 ventilators represent around 3% of the recall, and no sleep apnoea machines were affected.

☆ Meals company Takeaway, grocery delivery firm Getir in European partnership
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Nov 17 (Reuters) - Meals delivery company Just Eat Takeaway (TKWY.AS) on Thursday announced a European partnership with online grocer Getir. Under the partnership, Takeaway said, Getir's groceries will be listed on Takeaway's platform and can be ordered via its smartphone app but will be delivered by Getir couriers. Amsterdam-based Takeaway is Europe's largest meals ordering and delivery company, while Istanbul-based Getir is the largest of several privately-held online grocery companies that deliver a small selection of common supermarket items within an hour. The partnership will be launched in Germany next week, the companies said, and expanded to Britain, Spain, Italy and France this year. Reporting by Toby Sterling Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court confirms that MH 17 was shot down by Russian-made missile
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] Lawyers attend the judges' inspection of the reconstruction of the MH17 wreckage, as part of the murder trial ahead of the beginning of a critical stage, in Reijen, Netherlands, May 26, 2021. REUTERS/Piroschka van de Wouw/Pool/File PhotoAMSTERDAM, Nov 17 (Reuters) - Malaysia Airlines flight MH17 was shot down in 2014 by a Russian-made missile fired from a field in eastern Ukraine, the Dutch court handling the trial of four suspects in the downing of the plane said on Thursday. "The court is of the opinion that MH17 was brought down by the firing of a BUK missile from a farm field near Pervomaisk, killing al 283 passengers and 15 crew members," presiding judge Hendrik Steenhuis said. Reporting by Stephanie van den Berg, Toby Sterling and Bart Meijer; Editing by Jon BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Dutch court says Russia had 'overall control' of separatists in Ukraine at time of MH17 downing
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Presiding Judge Hendrik Steenhuis inspects the reconstruction of the MH17 wreckage, as part of the murder trial ahead of the beginning of a critical stage, in Reijen, Netherlands, May 26, 2021. REUTERS/Piroschka van de Wouw/PoolAMSTERDAM, Nov 17 (Reuters) - The Dutch court handling the trial of four suspects in the downing of Malaysia Airlines flight MH17 on Thursday said Russia had overall control of the separatist forces in eastern Ukraine at the time when the plane was shot down. "From half May 2014 Russia had so called overall control over the People's Republic of Donetsk," presiding judge Hendrik Steenhuis said referring to the region where the passenger flight was show down on July 17, 2014. In the ongoing ruling, the court had earlier said the plane was shot down by a Russian-made missile. Reporting by Stephanie van den Berg, Toby Sterling and Bart Meijer; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Judges to rule in murder trial for 2014 downing of flight MH17 over Ukraine
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

MH17 was a passenger flight shot down over eastern Ukraine on July 17, 2014, killing all 298 passengers and crew. At the time, the area was the scene of fighting between pro-Russian separatist and Ukrainian forces, the precursor of this year's conflict. Moscow denies any involvement or responsibility for MH17's downing and in 2014 it also denied any presence in Ukraine. They were charged with shooting down an airplane and with murder in a trial held under Dutch law. Judges will begin reading the verdict at 1:30 p.m. local time (1230 GMT) at the high-security court next to Amsterdam's Schiphol Airport.

Nestle and P&G both raised prices by less than 9.5% in the same period, having roughly matched one another since mid-2021. Unilever said price rises vary by category and market and not all consumers were experiencing the 12.5% hikes. Unilever has high exposure to regions and countries with high inflation including Latin America, Turkey and Russia, while P&G is more U.S.-focused, Bernstein analyst Bruno Monteyne said. "These countries have high inflation, linked to weak foreign exchange. "We are still absorbing significant cost, which has led to a notable decline in our gross profit margin," a Nestle spokesperson said.

☆ ASML CEO: Would not change 2030 growth targets if China excluded
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 11 (Reuters) - ASML Holding NV (ASML.AS), a key supplier to semiconductor manufacturers, would not change its 2030 forecasts much if Chinese chipmakers are unable to expand their capacity beyond current levels, CEO Peter Wennink told investors on Friday. Speaking at a meeting with investors, Wennink said "if the geopolitical situation is such, which I would not expect, but that, for instance China would absolutely be excluded from any growth, the demand is there. "So it doesn't change the 2030 picture that much." ASML on Thursday upgraded its long term forecasts for 2025 and 2030, saying it expects demand for its products to be strong in the coming decade. It expects sales to grow to 44-60 billion euros in 2030, from 18.6 billion euros in 2021.

☆ ASML launches 12 bln euro buyback, upgrades 2025 forecast
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 10 (Reuters) - ASML Holding NV (ASML.AS), a key supplier of equipment to computer chip manufacturers, on Wednesday said it would launch a 12 billion euro ($12.2 billion) share buyback programme to run through 2025. In an announcement ahead of an investors' day on Nov. 11, the company said it expects revenue of 30 billion to 40 billion euros by 2025, up from a previous estimate of 24 billion to 30 billion euros. The company's 2021 sales totalled 18.6 billion euros. "While the current macro environment creates near-term uncertainties, we expect longer-term demand and capacity showing healthy growth," the company said in a statement. Shares jumped on the announcement and were trading 8.6% higher at 538.50 euros by 1550 GMT.

☆ Nigerian widows end their case in the Netherlands against Shell
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] Widows Esther Kiobel and Victoria Bera are seen at a court after a hearing for a damages suit brought against energy company Royal Dutch Shell by four widows of activists executed by Nigerian government in 1995, in The Hague, Netherlands May 01, 2019. REUTERS/Piroschka van de WouwAMSTERDAM, Nov 7 (Reuters) - A group of four widows who had sought to hold Shell (SHEL.L) liable for damages in the Netherlands after their anti-oil activist husbands were executed by the Nigerian government in 1995 have cancelled further legal proceedings, their lawyer said on Monday. "Obviously this is not without disappointment and frustration," said lawyer Channa Samkalden in statement announcing that the widows have cancelled an appeal launched after the Hague District Court rejected their case earlier this year. In March, the Hague court ruled there was not enough evidence to support the widows' assertion that Shell had bribed witnesses to give false testimony in the trial that led to the men's executions. "We have always denied the allegations made against Shell in this case," Shell said in a statement Monday.

☆ Activists block private jet traffic at Schiphol Airport
▼ + stars: | 2022-11-05 | by ( Laurie Goering | ) www.reuters.com time to read: 1 min

[1/5] Climate activists protest against environmental pollution from aviation at Amsterdam's Schiphol Airport, in Schiphol, Netherlands November 5, 2022. REUTERS/Piroschka van de WouwAMSTERDAM, Nov 5 (Reuters) - Environmental activists rushed onto the area where private jets are kept at Amsterdam's Schiphol Airport on Saturday in an attempt to block them from departing. Hundreds of people had gathered in and around the airport for a demonstration against pollution organized by Greenpeace and Extinction Rebellion. No delays in commercial flights were reported as of the early afternoon. Reporting by Toby Sterling; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ ING Groep launches $1.5 bln buyback after Q3 pre-tax profit slumps
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, Nov 3 (Reuters) - ING Groep NV (INGA.AS), the largest Dutch bank, reported on Thursday a quarterly pre-tax profit of 1.38 billion euros ($1.36 billion), below expectations due to one-off charges, and also rolled out a fresh share buyback worth 1.5 billion euros. Analysts had forecast a pre-tax profit at 1.50 billion euros, according to Refinitiv data, compared with 1.92 billion euros posted last year. Chief Executive Officer Steven van Rijswijk said the company had seen a "solid performance, especially in light of the challenging economic and geopolitical environment". Additions to loan loss provisions increased to 403 million euros in the reported period from 39 million euros a year ago, but in line with the "through the cycle average", ING said. Without the one-off charges, margins would have improved to 1.42%, Van Rijswijk said.

☆ Telecom operator VEON seeking sale of Russian operations
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Veon Ltd (VON.AS), the Dutch-based operator of telecommunications networks, said on Wednesday it was seeking the sale of its Russian operations, which make up more than half of its revenues and earnings. The company said it was conducting a "competitive sales process" for the business, which operates under the Beeline brand. Since then, scores of foreign firms have sought to reduce exposure to Russia and paused or terminated operations there. Veon's position is difficult as it also has significant operations in Ukraine, where it has struggled to keep its Kyivstar arm operating throughout the conflict. Russian media reported last month Veon was considering a sale of Beeline but Veon declined comment at the time.

☆ Prosus and Naspers deny report they are in talks to sell Tencent stake
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Prosus holds a 28% stake in Tencent worth $70 billion at current prices. It has said it intends to sell the stake down gradually to fund a share repurchase program. "The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement. Tencent shares rose sharply on Friday, gaining 10% to $226.2 HKD. Naspers shares, which usually follow movements in Tencent, rose 8.7% in Johannesburg.

☆ Prosus & Naspers deny report they are in talks to sell Tencent stake
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly SongAMSTERDAM, Nov 1 (Reuters) - Technology investment firm Prosus NV (PRX.AS) and its South African parent Naspers (NPNJn.J) on Tuesday rejected as "untrue" a report that they are in talks to sell their large stake in Chinese software and gaming giant Tencent (0700.HK). In a pre-market statement, Amsterdam-based Prosus said an article in Asian Tech Press citing unnamed sources saying that Naspers was in talks with a group of investors led by CITIC of China to sell its entire Tencent stake was "speculative and untrue". Prosus holds a 28% stake in Tencent worth $70 billion at current prices. It has said it intends to sell the stake down gradually to fund a share repurchase program. "The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement.

☆ Aegon sells Dutch operations to ASR in $4.9 bln deal
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 27 (Reuters) - Aegon NV (AEGN.AS) said on Thursday smaller rival ASR (ASRNL.AS) would buy its Dutch insurance operations in a cash and shares deal worth around 4.9 billion euros ($4.93 billion) that would see ASR replace it as the country's second-largest insurer. Aegon will receive 2.5 billion euros ($2.52 billion) and a 29.99% stake in ASR, worth 2.4 billion euros at Wednesday's closing price, the companies said in a joint statement. "This is going to be a powerhouse company" on the Dutch market, Aegon Chief Executive Officer Lard Friese told reporters in a video call. "We looked at that very carefully, and it's up to (the Dutch market regulator) to decide ... but we do not expect problems," he said. It said that of the cash proceeds, it would return 1.5 billion euros to shareholders and use 700 million euros to reduce leverage.

☆ Activist glues his head to 'Girl with a Pearl Earring' painting in The Hague
▼ + stars: | 2022-10-27 | by ( Tosterling Charlotte Campenhout | Charlotte Campenhout | ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 27 (Reuters) - A climate activist glued his head to glass covering the world-famous "Girl with a Pearl Earring" painting at a museum in The Hague on Thursday, though the artwork was not damaged, gallery staff said. A second activist glued their hand to the wall next to the 1665 work by Dutch master Johannes Vermeer, and an unidentified liquid was thrown, the Mauritshuis museum said. An unverified video on social media showed two men near the painting, both wearing "Just Stop Oil" T-shirts. Earlier this month, Just Stop Oil activists threw soup over Vincent van Gogh’s painting "Sunflowers" at London's National Gallery. A statement from Just Stop Oil said its activists were responsible and had thrown soup.

☆ Dutch probe 'illegal' China gov't offices in Netherlands
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 26 (Reuters) - The Netherlands is investigating offices that have been operating illegally in the country on behalf of the Chinese government, the Foreign Ministry said on Wednesday. The investigation follows reports by RTL Nieuws and website "Follow The Money" that two such offices have carried out functions, including remotely renewing Chinese citizens drivers' licences. The Chinese Embassy said in an emailed reaction to Reuters questions it "was not aware of the issue ... and not involved in it". "China`s judicial and law-enforcement authorities strictly abide by international rules and fully respect the judicial sovereignty of other countries," it said. "What is correct is that the Chinese government never informed us about the centres via diplomatic channels so that makes them illegal to begin with," Hovenkamp said.

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