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☆ Siemens Energy books $2.4 billion in charges for wind turbine issues
▼ + stars: | 2023-08-07 | by ( Christoph Steitz | ) www.reuters.com time to read: +3 min

[1/2] The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. The charges will inflate Siemens Energy's net loss more than six-fold in 2023 to 4.5 billion euros, the company said, as it published third-quarter results showing a record order backlog due to strong demand. Siemens Energy shares reversed an opening fall of as much as 7% to stand 1.5% higher on the day by 0725 GMT. "Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa," Siemens Energy CEO Christian Bruch said, adding that the group's remaining units, including gas turbines and power converter stations, performed well. While in line with Siemens Energy's own estimate of more than 1 billion euros, Monday's cost tally for the issues is below the most pessimistic market estimate of more than 5 billion euros issued by UBS.

Persons: Chris Helgren, Christian Bruch, Alix, Christoph Steitz, Barbara Lewis, Stephen Coates, Kirsten Donovan Organizations: Siemens Energy, REUTERS, UBS, Siemens, Siemens Gamesa, Alix Partners, Thomson Locations: Vancouver , British Columbia, Canada, FRANKFURT

During Greece's peak power demand this year, also on July 24, solar photovoltaics covered 3.5GW of the total 10.35GW demand, grid operator IPTO said. Even in cooler and less sunny western countries such as Belgium, solar energy has covered more than 100% of the extra energy needed during midday spikes in power demand. Analysts say a second factor has helped to keep Europe's energy systems running this summer: overall, power demand has been relatively low. That has been the case since Europe's energy crisis last year, when Russia cut gas deliveries to Europe. "The only reason why this has been bearable is the low power demand environment that we're currently in," Refinitiv's Gerl said.

Persons: Nicolas Economou, Kristian Ruby, Electrica, Nathalie Gerl, IPTO, Spain's, Refinitiv's Gerl, Simone Tagliapietra, Kate Abnett, Susanna Twidale, Barbara Lewis Organizations: REUTERS, Analysts, Energy, European Commission, SolarPower, Thomson Locations: Rhodes, Greece, Europe, BRUSSELS, LONDON, Spain, Ukraine, Catania, Etna, Sicily, Athens, Belgium, Russia

A group of people shows posters in front of the Parque Tejo stage for the XXXVII World Youth Day, in Lisbon, Portugal August 5, 2023. The Church is no exception, said 29-year-old Braga, who linked the issue to racism rooted in slavery and colonialism. "The Church has great power to turn the tables," said Braga, who at Saturday's evening vigil with Francis wore a T-shirt saying "Jesus was Black". "Our ancestors built these spaces and today we are a minority here," said Vanessa Pitangui, who held a Black Lives Matter sign. Reporting by Catarina Demony; Additional reporting by Michael Francis Gore and Pedro Nunes; Editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Nunes LISBON, Pope Francis, Francis, Tamara Braga, Braga, Jesus, Vanessa Pitangui, Catarina Demony, Michael Francis Gore, Pedro Nunes, Barbara Lewis Organizations: REUTERS, Catholic Church, Thomson Locations: Lisbon, Portugal, Brazil, American, Rio de, Asia, Africa, Europe, Americas

☆ Three Palestinian militants shot dead, say Israeli police
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +2 min

[1/3] Palestinians gather at the scene where Israeli forces targeted a Palestinian car, near Jenin, in the Israeli-occupied West Bank August 6, 2023. REUTERS/Raneen SawaftaJERUSALEM, Aug 6 (Reuters) - Israeli security forces shot dead three Palestinian militants in the occupied West Bank on Sunday, Israeli police said, drawing threats of revenge by Palestinian militant factions. Violence has worsened in the West Bank since last year with more Israeli raids and Palestinian street attacks on Israelis. The Palestinian Islamic Jihad, which has militants in Gaza and the West Bank, also vowed revenge. The Israeli police said the head of a militant group involved in military action against Israeli security forces and supporting "terrorists" in Gaza had died along with two other squad members.

Persons: Hazem Qassem, Tareq Selmaa, Benjamin Netanyahu, Emily Rose, Nidal, Ali Sawafta, Barbara Lewis, Hugh Lawson Organizations: West Bank, REUTERS, Hamas, Washington, Thomson Locations: Jenin, Raneen, JERUSALEM, Gaza

☆ Ukraine calls Jeddah talks productive, Russia calls them doomed
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] Russian President Vladimir Putin chairs a meeting with members of the Security Council via video link at the Kremlin in Moscow, Russia August 4, 2023. More than 40 countries, including China, India, the United States, and European countries, but not Russia, are taking part in the Jeddah talks that are expected to end on Sunday without any written concluding statement. President Volodymir Zelenskiy has said he wants a global summit to take place based on those principles later this year. Eighteen months after Russia invaded Ukraine, any prospect of direct peace talks between Kyiv and Moscow appears remote. Yermak said different viewpoints emerged during the talks in Saudi Arabia, calling them "an extremely honest, open conversation".

Persons: Vladimir Putin, Aleksey Babushkin, Volodymir Zelenskiy, Zelenskiy's, Andriy Yermak, Sergei Ryabkov, Yermak, Pavel Polityuk, Angus McDowall, Barbara Lewis Organizations: Security, Kremlin, Sputnik, REUTERS, Global, Thomson Locations: Moscow, Russia, Kremlin, Ukrainian, Saudi Arabia, Kyiv, China, India, United States, Jeddah, Ukraine, Copenhagen, Saudi, Beijing

☆ Daimler Truck CFO Jochen Goetz dies in 'tragic accident'
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo/File PhotoFRANKFURT, Aug 6 (Reuters) - Daimler Truck's (DTGGe.DE) Chief Financial Officer Jochen Goetz has died in a "tragic accident," the company said on Sunday. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group (MBGn.DE) in December 2021. "He played a key role in shaping today's Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before," Chief Executive Martin Daum said. The company statement said Goetz had been distinguished by "his high level of professionalism as well as his positive, hands-on manner".

Persons: Fabian Bimmer, Jochen Goetz, Goetz, Martin Daum, Joe Kaeser, Vera Eckert, Andrew Cawthorne, Barbara Lewis Organizations: Daimler, IAA, REUTERS, Daimler Group, Daimler Truck Holding, Mercedes, Benz Group, Siemens, Thomson Locations: Hanover, Germany

☆ Uganda to reopen century-old rail link after China fails to fund new line
▼ + stars: | 2023-08-04 | by ( Elias Biryabarema | ) www.reuters.com time to read: +2 min

The line, which has been out of use for roughly 40 years, is part of the East Africa rail network that stretches from Kenya's Indian Ocean seaport of Mombasa. It was built by Kenya and Uganda's former colonial ruler Britain around the beginning of the 20th-century. Uganda decided to revamp the old network after plans to build a separate modern standard gauge railway (SGR) failed to secure financing from China. The European Union funded construction of the Gulu hub, completed in late 2021, as part of the effort to revamp Uganda's railway network, which fell into disrepair during the country's economic collapse in 1970s and early 80s. Ugandan officials hope once the link is restored, rail will replace trucks in shipping transit goods to South Sudan and northeastern Democratic Republic of Congo.

Persons: Thomas Mukoya, John Linnon Sengendo, Sengendo, Elias Biryabarema, George Obulutsa, Barbara Lewis Organizations: REUTERS, Democratic, Uganda Railways Corporation, Reuters, China Harbour, Engineering Company, Bridge Corporation, European Union, Thomson Locations: Kenya, Uganda, Kibera, Nairobi, South Sudan, DRC Kenya, KAMPALA, Democratic Republic of Congo, East Africa, Mombasa, Britain, China, Ugandan, Tororo, Uganda's, Gulu, Kampala

☆ German tourists blamed for toppling 150-year-old Italian statue
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

ROME, Aug 3 (Reuters) - A group of young German tourists posing for pictures to post on social media have been accused of toppling a valuable statue at a villa in northern Italy, the villa's manager said on Thursday. Golferini said he had lodged a complaint with the local police against all 17 German tourists who were in the group renting the villa. They have left Italy since the incident on Monday that was captured by the villa's surveillance cameras. There was anger in Italy in June when a tourist from England was pictured on social media scribbling the graffiti "Ivan + Hayley 23" on a wall at the Colosseum in Rome. ($1 = 0.9158 euros)Writing by Keith Weir; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Enrico Butti, Bruno Golferini, Villa Alceo, Golferini, Domina, Ivan, Hayley, Keith Weir, Barbara Lewis Organizations: Thomson Locations: Italy, Viggiu, England, Rome

☆ Factbox: Taiwanese giant Foxconn's growing interest in India
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration//File PhotoNEW DELHI, Aug 3 (Reuters) - Foxconn (2317.TW) has rapidly expanded its presence in India by investing in locations in the south of the country for its manufacturing facilities, as the Taiwanese giant seeks to move away from China. Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people. Here are some of the areas where the company has invested, according to announcements and sources familiar with its plans. APPLE ASSEMBLYFoxconn plans to make casing components for iPhones at a new Karnataka facility with $350 million in investment that will generate 12,000 jobs. MOBILE COMPONENTSFoxconn has signed a deal on Monday with southern state of Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs.

Persons: Dado Ruvic, Foxconn, Narendra Modi's, Tanvi Mehta, Barbara Lewis Organizations: REUTERS, APPLE ASSEMBLY, Apple, Reuters, Applied Materials, Vedanta, Thomson Locations: India, China, Tamil Nadu, Karnataka, Gujarat, Thailand

Chartbook: Electricity and diesel useIndustrial electricity use and distillate fuel oil consumption are both correlated with the manufacturing and freight cycle and therefore with the purchasing managers index. Distillate fuel oil consumption actually rose by almost +0.8% in the three months from March to May compared with a year earlier. The strength of domestic distillate consumption helps explain why fuel oil inventories have remained well below the prior ten-year seasonal average. DISTILLATE SUPPLIEDThe resilience of industrial electricity use and especially apparent distillate fuel oil consumption may indicate the ISM manufacturing index is overstating the depth of the downturn. Accumulation of secondary and tertiary stocks in April and May would imply lower apparent consumption in June and July.

Persons: Guan, John Kemp, Barbara Lewis Organizations: Angeles Refinery, California Air Resources Board, The Institute, Supply, U.S . Energy Information Administration, U.S, Thomson, Reuters Locations: Angeles, California, Carson , California, U.S, doldrums

But their cheap food, often produced on an industrial scale, has a high environmental price. German agriculture was responsible for 55.5 million metric tonnes of greenhouse emissions last year, roughly 7.4% of the country's emissions. During the "true cost" campaign, which runs until Saturday, customers at Penny's 2,150 branches, will be charged a price for nine products, from yoghurt to sausages and vegan schnitzel, that includes climate, health, soil and water costs. According to figures provided by Penny, organic products had environmental costs of an average of 1.15 euros, while non-organic products that relied on chemicals had an average environmental cost of 1.57 euros. It is unclear, however, whether consumers are prepared to pay more to reduce their environmental impact.

Persons: Read, Penny, Stefan Goergens, Goergens, Holger Meckel, I'm, Riham, Barbara Lewis Organizations: European Union, Reuters, Germany's Greens, Technical University of Nuremberg, University of Greifswald, Thomson Locations: Europe, BERLIN, Spain, Italy, Germany, Frankfurt, Penny's

☆ Iran shuts down for two days because of 'unprecedented heat'
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

The sun rises at a sugar cane farm in the southern Iranian city of Ahvaz 1,000 km (621 miles) south west of Tehran April 7, 2005. REUTERS/Morteza Nikoubazl MN/DL/File Photo License this content on Reuters ConnectDUBAI, Aug 1 (Reuters) - Iran has announced Wednesday and Thursday this week will be public holidays because of "unprecedented heat" and told the elderly and people with health conditions to stay indoors, Iranian state media reported. Many cities in southern Iran have already suffered from days of exceptional heat. State media reported temperatures had this week exceeded 123 degrees Fahrenheit (51 Celsius) in the southern city of Ahvaz. Government spokesman Ali Bahadori-Jahromi was quoted by state media as saying Wednesday and Thursday would be holidays, while the health ministry said hospitals would be on high alert.

Persons: Nikoubazl, Ali Bahadori, Jahromi, Parisa, Barbara Lewis Organizations: REUTERS, Reuters Connect DUBAI, Thomson Locations: Iranian, Ahvaz, Tehran, Iran

☆ 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

☆ All 15 Israel Supreme Court judges to hear judicial overhaul petitions
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, July 31 (Reuters) - Israel's Supreme Court on Monday said all 15 judges in a historic first would take part in a hearing on arguments against a law that Prime Minister Benjamin Netanyahu's religious-nationalist coalition passed as part of an overhaul of the judiciary. The Supreme Court agreed to discuss on Sept. 12 petitions to strike down the bill ratified last week that limits its powers to void some decisions made by government and ministers, setting the scene for a constitutional showdown. Netanyahu's coalition says the judicial changes are needed to curb what it describes as overreach by a Supreme Court that it says has become too politically interventionist. "These two elements form the basis of rule of law in Israel and of the balance between the authorities in any democracy." Israel's democratic foundations are relatively fragile and the Supreme Court is seen as crucial for protecting civil rights and the rule of law.

Persons: Benjamin Netanyahu's, Netanyahu, Yoav Gallant, Henriette Chacar, Ari Rabinovitch, Barbara Lewis, Bill Berkrot, Leslie Adler Organizations: Supreme, Israeli, parliament's Foreign Affairs, Defence Committee, Israel Bar Association, Thomson Locations: Israel

☆ Oil to drift lower as slower growth offsets OPEC+ cuts: Reuters poll
▼ + stars: | 2023-07-31 | by ( Rahul Paswan | ) www.reuters.com time to read: +2 min

A survey of 37 economists and analysts forecast Brent crude would average $81.95 a barrel in 2023, down from June's $83.03 consensus and current levels of around $85. Sluggish growth in top crude importer China has also weighed on oil prices so far in 2023. Global oil demand was expected to increase by about 1-2.1 million barrels per day (bpd) in 2023, led by China. "China's economic outlook may continue to disappoint but upside in oil demand is still possible with jet demand recovery from international flights later this year," said Ajay Parmar, associate director of global oil markets research at HSBC. Some of the analysts expected supplies to tighten and support oil prices in the latter part of this year after Saudi Arabia and Russia deepened output cuts in July.

Persons: Brent, Kpler, Ajay Parmar, John Paisie, Rahul Paswan, Brijesh Patel, Barbara Lewis Organizations: U.S . Federal Reserve, ECB, HSBC, Stratas Advisors, Thomson Locations: June's, Central, China, Saudi Arabia, Russia, Bengaluru

Meanwhile, the black market for smuggled subsidised Nigerian fuel in Togo and neighbouring Benin and Cameroon has collapsed, further reducing demand for shipments via Nigeria. Average monthly West African (WAF) gasoline imports fell by 56% in the second quarter compared with the first, according to Refinitiv Eikon data. "The key point is demand from West Africa is drying up," said Refinitiv Lead Oil Analyst Raj Rajendran. There may simply be a baseline decrease in demand," said Sparta Commodities gasoline market analyst Philip Jones-Lux. The challenge is coming from the new refineries in the Middle East that are expanding from their traditional East Africa market to now include West Africa and beyond even to the Americas," Rajendran said.

Persons: Bola Tinubu, Jeremy Parker, Raj, naira, Philip Jones, Jones, Lux, Rajendran, Shadia, Barbara Lewis Organizations: Nigeria's, West, ARA, Reuters Graphics, Sparta Commodities, Thomson Locations: Africa, Nigeria, North America, West Africa, Europe, United States, Asia, Ukraine, Togo, Benin, Cameroon, Amsterdam, Rotterdam, Antwerp, Sparta, Mideast, Russia, European, East Africa

Three months ago, a Reuters poll predicted prices would average $1,950 in 2023. Standard Chartered analyst Suki Cooper said gold is "more likely to test the downside until rate cuts materialise unless a new catalyst emerges". For silver , the poll forecast average prices of $23.52 an ounce in 2023 and $25.00 in 2024. "Anaemic performance from gold and concerns over economic outlook especially in China" have weighed on silver, O'Connell added. But silver could still find support from solar panels demand, analysts said.

Persons: Ross Norman, Carsten Menke, Julius Baer, Suki Cooper, Rhona O'Connell, Silver, O'Connell, Ashitha Shivaprasad, Harshit Verma, Arpan Varghese, Barbara Lewis Organizations: Federal Reserve, U.S, Thomson Locations: China, Bengaluru

☆ Universal Music earnings boosted by strong sales
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - The world's largest record label Universal Music Group (UMG.AS) on Wednesday posted a better than expected second quarter core profit margin, boosted by strong sales from artists including Taylor Swift and South Korea's SEVENTEEN. Universal Music's quarterly margin on adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 21.9%, from 20.0% a year earlier, the group said in a statement. Adjusted EBITDA rose by 16.4% to 590 million euros ($653 million), higher than a company-provided consensus of 547 million euros. Universal Music reported revenues of 2.7 billion euros in the quarter, helped by a 10.6% yearly rise in recorded music subscriptions, the company added. Apart from Taylor Swift and South Korean boy band SEVENTEEN, other top sellers in the second quarter were King & Prince, Morgan Wallen, and Stray Kids, Universal Music said.

Persons: Taylor Swift, Lucian Grainge, Prince, Morgan Wallen, Alessandro Parodi, Toby Chopra, Barbara Lewis Organizations: Universal Music, Universal, Thomson Locations: South Korean

☆ India's government faces no-confidence vote over ethnic clashes
▼ + stars: | 2023-07-26 | by ( Rupam Jain | ) www.reuters.com time to read: +3 min

[1/2] India's Prime Minister Narendra Modi speaks during a meeting at The Ministry of Foreign Affairs in Paris France July 14, 2023. Modi's Bharatiya Janata Party (BJP) has a clear majority of 301 members in the 542-seat lower house of parliament, so the no-confidence vote will not affect its stability. Approving the opposition motion, lower house speaker Om Birla said he would soon decide when the debate and vote would take place. As head of the government, he will have to respond to the no-confidence motion before it is put to vote. Shashi Tharoor, a leader of the main opposition Congress party, said the government must invest time to answer questions about Manipur.

Persons: Narendra Modi, JULIEN DE ROSA, Narendra Modi's, Om Birla, Modi, Amit Shah, Shashi Tharoor, Tharoor, Zarir Hussain, YP Rajesh, John Stonestreet, Barbara Lewis Organizations: India's, The Ministry of Foreign Affairs, Modi's Bharatiya Janata Party, BJP, Manipur, Reuters, YP, Thomson Locations: Paris France, Manipur, DELHI, BJP, Guwahati

FRANKFURT/LONDON, July 26 (Reuters) - German industry is finding new ways to transport cargoes from coal to chemicals as increasingly frequent low water levels on the Rhine disrupt Europe's largest economy. At Kaub , the critical chokepoint for Rhine barges, water levels fell to their lowest this year earlier this week. ARTERY OF THE ECONOMYThe impact of low water levels is not limited to big business. But logistics firms are benefiting from rising demand for vessels adapted to lower river levels. "We expect, due to climate change, that the extremes on the river Rhine will happen more often," said Maickel Uijtewaal, general manager at Stolt-Nielsen (SNI.OL).

Persons: Uwe Arndt, Barbara Hoyer, majeure, Roberto Spranzi, Maickel Uijtewaal, Steffen Bauer, Christoph Steitz, Vera Eckert, Ludwig Burger, Patricia Weiss, Rene Wagner, Nette, Tom Kaeckenhoff, Matthias Inverardi, Vincent Flasseur, Barbara Lewis Organizations: Federal Waterways, Shipping Agency, Reuters Graphics, Cologne, BASF, Reuters Graphics Reuters, Kiel Institute, Deutsche Bank, Reuters, Stolt, Nielsen, HGK Shipping, Daniels, Midland Co, Chemicals, Thomson Locations: FRANKFURT, LONDON, Kaub, Europe, Reuters Graphics Germany, Ludwigshafen, HGK, Frankfurt, Berlin, Duesseldorf, London

☆ Bank of England rates set to peak at 5.75% by year-end: Reuters poll
▼ + stars: | 2023-07-25 | by ( Shaloo Shrivastava | ) www.reuters.com time to read: +3 min

BENGALURU, July 25 (Reuters) - The Bank of England will raise its Bank Rate by a quarter-point to 5.25% on August 3, making borrowing the costliest since early 2008, and hike twice more by the year-end as price pressures persist, a Reuters poll showed. While the median peak rate forecast was 5.75%, nearly half of respondents, 29 of 61, still said 5.50%, the same as a June 26 poll. As recently as a June 14 poll, the consensus was for Bank Rate to peak at 5.00%. Predictions for Bank Rate at year-end were in a wide range. Asked where core inflation will be at year-end, nearly two thirds of respondents, 14 of 22, said slightly lower.

Persons: BoE, Bruce Kasman, Morgan, Stefan Koopman, Shaloo Shrivastava, Mumal Rathore, Pranoy Krishna, Rahul Trivedi, Jonathan Cable, Ross Finley, Barbara Lewis Organizations: Bank of England, Bank, Company, Rabobank, Thomson Locations: BENGALURU, J.P, British

"The major thing that we see now is onshore-traded Country Garden bonds going down," he said. Country Garden is a giant with thousands of projects in nearly 300 Chinese cities. Li Changjiang, the president of Country Garden Services, sold 3.2 million shares of the company last week, reducing his stake to 0.11% from 0.21%. They also cut its price target to HK$0.9 from HK$2.3 and that of Country Garden Services Holdings to HK$6.7 from HK$22. "Distressed Chinese property developers’ bond restructurings can buy them some room," Fitch Ratings said in a report on Monday.

Persons: Longfor, Wanda, Yao Yu, Morgan Stanley, Morgan, Li Changjiang, Fitch, Jason Xue, Tom Westbrook, Clare Jim, Xie Yu, Georgina Lee, Marc Jones, Kim Coghill, Jamie Freed, Barbara Lewis, Christina Fincher Organizations: HK, Dalian, Garden, Country Garden Services, Garden Holdings, Garden Services Holdings, China, Greenland Holdings, Ocean Group, Thomson Locations: SHANGHAI, SYDNEY, China, Hong Kong, Evergrande, Cayman Islands, Shanghai, Sydney, London

Let's do this," tweeted Yaccarino, who also posted a picture of the logo projected onto the company's offices in San Francisco. loadingloadingBoth Yaccarino's and Musk's Twitter handles feature the X logo, although the Twitter blue bird is still visible across the platform. He also referred to the "interim X logo," and tweeted that "soon we shall bid adieu to the Twitter brand and, gradually, all the birds". In response to a tweet asking what will tweets be called under X, Musk replied "x's". loadingThe original Twitter logo was designed in 2012 by a team of three.

Persons: Carlos Barria STOCKHOLM, Elon Musk, Linda Yaccarino, Yaccarino, Musk, adieu, Martin Grasser, Matt Rhodes, Drew Benvie, Battenhall, Supantha Mukherjee, Martin Coulter, Aiden Nulty, Bharat Govind Gautam, Barbara Lewis Organizations: REUTERS, Twitter, PayPal, NBCUniversal, SpaceX, Thomson Locations: San Francisco , California, U.S, San Francisco, Elon Musk's, Stockholm, London, Bengaluru

☆ China's Alibaba says will not join Ant Group share buyback
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: 1 min

BEIJING, July 23 (Reuters) - China's Alibaba Group (9988.HK) said on Sunday it had decided not to participate in affiliate Ant Group's proposed repurchase of shares, but would maintain its shareholding in the company. Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations. Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33% stake. The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing. Reporting by Amy Lv and Dominique Patton; Editing by Jan Harvey and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ant, Amy Lv, Dominique Patton, Jan Harvey, Barbara Lewis Organizations: HK, Ant Group, Thomson Locations: BEIJING, Beijing

☆ Israeli startups act to relocate over judicial shakeup, survey finds
▼ + stars: | 2023-07-23 | by ( Emily Rose | ) www.reuters.com time to read: +2 min

JERUSALEM, July 23 (Reuters) - Nearly 70% of Israeli startups have taken action to relocate parts of their business outside Israel, a survey released on Sunday by an Israeli non-profit organisation on the government's planned judicial overhaul found. The survey, completed by professionals representing 521 companies, said 68% of Israeli startup companies "have begun taking active legal and financial steps, like withdrawing cash reserves, changing HQ location outside Israel, relocation of employees and conducting layoffs." Additionally, 22% of companies said they have diversified cash reserves outside Israel and 37% of investors say companies in their portfolios have withdrawn some of their cash reserves and moved them abroad. "Concerning trends like registering a company abroad or launching new startups outside Israel will be hard to reverse," said Start-Up Nation Central CEO Avi Hasson. The survey was released as lawmakers began debating a bill that would prevent the Supreme Court from quashing legislation on the grounds of manifest "unreasonableness".

Persons: Benjamin Netanyahu, Avi Hasson, Emily Rose, Barbara Lewis Organizations: Nation Central, Thomson Locations: Israel, Israeli

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