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☆ US, Canadian warships transit Taiwan Strait in latest joint mission
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Sept 9 (Reuters) - A U.S. and a Canadian warship sailed through the Taiwan Strait on Saturday, the U.S. Navy said, marking the second such joint mission since June and coinciding with the leaders of both countries attending the G20 summit in India. "Ralph Johnson and Ottawa's bilateral transit through the Taiwan Strait demonstrates the commitment of the United States and our allies and partners to a free and open Indo-Pacific," the U.S. Navy added in a statement. China's military condemned the transit as is usual with such missions, accusing the ships of carrying out "public hyping" in the strait, which separates Chinese-claimed Taiwan from China. Taiwan's defence ministry said the ships sailed in a southerly direction and that it had observed nothing unusual. While U.S. warships transit the strait around once a month, it is unusual for them to do so with those of other allies.

Persons: Ralph Johnson, Canada's, Xi Jinping, Joe Biden, Justin Trudeau, Ben Blanchard, Alexander Smith Organizations: U.S . Navy, Navy's, Fleet, Eastern Theatre Command, Liberation Army, U.S, Canadian, Thomson Locations: TAIPEI, U.S, Canadian, Taiwan Strait, India, The U.S, Ottawa, Taiwan, United States, China, New Delhi

☆ Teenager shot dead by Israeli forces, Palestinian health officials say
▼ + stars: | 2023-09-09 | by ( Ali Sawafta | ) www.reuters.com time to read: +1 min

JERUSALEM, Sept 9 (Reuters) - A 16-year-old Palestinian boy was shot dead by Israeli forces on Saturday near the occupied West Bank city of Hebron, Palestinian health officials said. The Israeli military said that militants hurled explosives at soldiers who were in a nearby military post. "IDF soldiers responded with riot dispersal means and live fire," the Israeli military said in a statement but did not confirm the death. The West Bank, which is among the areas where Palestinians seek statehood, has seen a surge in violence over the last 18 months amid long-deadlocked U.S.-sponsored peacemaking efforts. Local Palestinian media said Israeli forces had fired live bullets and tear gas at youngsters in the Al-Arroub refugee camp, in the southern West Bank, during a raid.

Persons: Emily Rose, Alexander Smith, Peter Graff, Chizu Organizations: West, West Bank, Reuters, Thomson Locations: West Bank, Hebron, Local, West

REUTERS/Altaf Hussain Acquire Licensing RightsNEW DELHI, Sept 9 (Reuters) - India served millet, a staple for millions of Indians, to world leaders at a gala dinner at the end of the first day of the G20 Leaders Summit in New Delhi on Saturday. From leaf crisps to pudding, the foodstuff was served at the high table occupied by leaders including U.S. President Joe Biden, British Prime Minister Rishi Sunak and Japan's Prime Minister Fumio Kishida. The main course was a jackfruit pastry served with glazed forest mushrooms, millet crisps and curry leaf tossed Kerala red rice. Earlier this year, the versatile and climate friendly superfood grain featured at the White House state dinner for Indian Prime Minister Narendra Modi. "We encourage efforts to strengthen research cooperation on climate-resilient and nutritious grains such as millets, quinoa, sorghum, and other traditional crops including rice, wheat and maize," the statement said.

Persons: Altaf Hussain, Joe Biden, Rishi Sunak, Fumio Kishida, Droupadi Murmu, Millet, Narendra Modi, Krishn Kaushik, Aftab Ahmed, Alexander Smith Organizations: International Media Center, REUTERS, G20, U.S, British, Japan's, Indian, United Nations Food, Agriculture Organization, White House, Thomson Locations: New Delhi, India, DELHI, Mughlai, Russia, Ukraine

☆ Maldives Opposition Candidate Muizzu Ahead in Presidential Race -Local Media
▼ + stars: | 2023-09-09 | by ( Sept. | At A.M. | ) www.usnews.com time to read: 1 min

(Reuters) - Maldives opposition candidate Mohamed Muizzu has edged ahead in the results announced so far in the first round of the country's presidential election race, local media reported on Saturday. Muizzu had received 46% of the votes counted to get ahead of his rival, the report said. The presidential election can run to two rounds. If no candidate gets a majority in the first round, there will be a run-off which is scheduled for Sept. 30. (Reporting by Jyoti Narayan in Bengaluru; Editing by Alexander Smith)

Persons: Mohamed Muizzu, Muizzu, Jyoti Narayan, Alexander Smith Organizations: Reuters Locations: Maldives, Bengaluru

☆ Eiffel Tower lights to go dark in tribute to Morocco quake victims
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: 1 min

PARIS, Sept 9 (Reuters) - The Eiffel Tower's lights will go dark at 11 p.m. (2100 GMT) on Saturday in tribute to victims of Morocco's earthquake, Agence France Presse reported, citing Paris City Hall. Morocco's Interior Ministry said earlier that 1,037 people had been killed and another 672 injured by the quake, recorded by the U.S. Geological Survey at a magnitude of 6.8 with an epicentre some 72 km (45 miles) southwest of Marrakech. Reporting by Dominique Vidalon; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Dominique Vidalon, Alexander Smith Organizations: Agence France Presse, Paris City Hall, U.S . Geological, Thomson Locations: Marrakech

Indian Prime Minister Narendra Modi announced that the Leaders' Declaration had been adopted on the first day of the weekend G20 summit in New Delhi. "On the back of the hard work of all the teams, we have received consensus on the G20 Leaders Summit Declaration. British Prime Minister Rishi Sunak said the declaration had "very strong language about Russia's illegal war in Ukraine". The declaration also called for the implementation of the Black Sea initiative for the safe flow of grain, food and fertiliser from Ukraine and Russia. Despite the compromise over the Leaders' Declaration, the summit had been expected to be dominated by the West and its allies.

Persons: Narendra Modi, Joe Biden, Evan Vucci, Germany's Scholz, Modi, Olaf Scholz, Rishi Sunak, Sergei Lavrov, Subrahmanyam Jaishankar, India's, Biden, Xi Jinping, Li Qiang, Russia's Vladimir Putin, Scholz, Sunak, Emmanuel Macron, Saudi Arabia's Mohammed Bin Salman, Japan's Fumio, Jon, Manoj Kumar, Katya Golubkova, Krishn Kaushik, Mayank Bhardwaj, Michel Rose, Raju Gopalakrishnan, Sanjeev Miglani, Jacqueline Wong, Kim Coghill, Alexander Smith Organizations: Indian, REUTERS Acquire, British, Foreign, INDIA, India's sherpa, Bharat, African Union, West, United Arab, Thomson Locations: New Delhi, India, Ukraine, Russia, DELHI, Ukrainian, Moscow, CHINA, China, Brazil, South Africa, Indonesia, Saudi, U.S, Delhi, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab Emirates

☆ British heatwave brings hottest day of 2023 so far
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +1 min

Companies Met Office FollowLONDON, Sept 9 (Reuters) - Britain recorded its hottest day of 2023 so far on Saturday, with provisional data showing a high of 33.2 degrees Celsius (91.8 degrees Fahrenheit) at London's Kew Gardens. [1/5]Beachgoers cool off in the water during hot weather in Brighton, Britain, September 9, 2023. The Met Office said last week that Britain had experienced its eighth warmest summer since 1884, with June the hottest on record in the country. In July 2022, Britain recorded its hottest ever day when temperatures topped the 40 C mark for the first time. Reporting by James Davey; Editing by Clelia Oziel and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Jasso, Saturday, James Davey, Clelia Oziel, Alexander Smith Organizations: REUTERS, Met Office, Britain, Thomson Locations: Britain, London's, Brighton

☆ Ukraine says G20 summit declaration 'nothing to be proud of'
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +1 min

Indian Prime Minister Narendra Modi appears on a screen as he attends "Session II: One Family" at the G20 summit in New Delhi, India, September 9, 2023. REUTERS/Evelyn Hockstein/Pool Acquire Licensing RightsKYIV, Sept 9 (Reuters) - The Ukrainian foreign ministry said on Saturday the G20's joint declaration was "nothing to be proud of" and criticised it for not mentioning Russia. "It is clear that the participation of the Ukrainian side (in the G20 meeting) would have allowed the participants to better understand the situation," he wrote on Facebook. Despite his disappointment with the overall G20 text, Nikolenko thanked Ukraine's allies for doing their part to advance Ukraine's position in the declaration. "Ukraine is grateful to the partners who tried to include strong formulations in the text."

Persons: Narendra Modi, Evelyn Hockstein, Oleg Nikolenko, Nikolenko, Ukraine's, Max Hunder, Mark Heinrich, Alexander Smith Organizations: Indian, REUTERS, Rights, Facebook, Thomson Locations: New Delhi, India, Ukrainian, Russia, Ukraine

☆ Swiss post mortem of Credit Suisse crisis to go back to 2015
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

The logo of Credit Suisse is pictured on a building near the Hallenstadion where took place the Annual General Meeting, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. A Swiss parliamentary committee said that it has completed the so-called "investigation concept" for the post mortem, dividing the time periods it will examine in the run up to the emergency Credit Suisse rescue. The first phase will cover the events before the middle of 2022, going back to 2015 when the Swiss cabinet submitted its first evaluation report on systemically important banks. The actions of the government, financial markets watchdog FINMA and the Swiss National Bank as Credit Suisse's situation worsened towards the end of 2022 to March 2023 will also come under the microscope. It would also award an external mandate to analyse how the problems at Credit Suisse developed over the past few years, although it would not assess the bank's management, as this was outside its remit.

Persons: Pierre Albouy, John Revill, Alexander Smith Organizations: Credit Suisse, UBS, REUTERS, Rights, Suisse, Swiss National Bank, Thomson Locations: Zurich, Switzerland, Swiss

The U.S. Geological Survey said the quake had a magnitude of 6.8 with an epicentre some 72 km (45 miles) southwest of Marrakech. "When I felt the earth shaking beneath my feet and the house leaning, I rushed to get my kids out. [1/14]Residents rest in central Marrakesh following a powerful earthquake in Morocco, September 9, 2023. It was Morocco's deadliest earthquake since 1960 when a quake was estimated to have killed at least 12,000 people, according to the U.S. Geological Survey. Marrakech is due to host the annual meetings of the International Monetary Fund and World Bank from Oct. 9.

Persons: Mohamed Azaw, Mohamed Ouhammo, Montasir, Abdellatif Ait, Saida Bodchich, Hannah McKay, Waaziz Hassan, Mohammad Kashani, Zakia Abdennebi, Tarek Amara, Alexander Cornwell, Ahmed Tolba, Jose Joseph, Muhammad Al Gebaly, Adam Makary, Michelle Nichols, Graham Keeley, Josephine Mason, Angus McDowall, Tom Perry, Tomasz Janowski, Frances Kerry, Alexander Smith, Peter Graff, Daniel Wallis Organizations: WHO, Moroccan, Interior Ministry, Geological Survey, Food, High, REUTERS, World Health Organization, UNESCO, . Geological Survey, University of Southampton, International Monetary Fund, World Bank, IMF, Reuters, Thomson Locations: Marrakech, Casablanca, Rabat, Morocco, U.S, Amizmiz, Asni, Tansghart, Abdellatif Ait Bella, Marrakesh, Huelva, Jaen, Spain, Jemaa, Moroccan, Turkey, Algeria, Tunis, Imsouane, Dubai, Bengaluru, Cairo, New York, Madrid, London

☆ Russian court rejects Goldman request to dismiss Otkritie lawsuit
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsMOSCOW, Sept 8 (Reuters) - A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs (GS.N) request to dismiss a $6.3 million lawsuit by Russia's Otkritie (OPENI.MM), which is owned by state bank VTB (VTBR.MM). A lawyer for Goldman had argued on Thursday that the Moscow court had no jurisdiction and the case should instead be heard in London. At Otkritie's request, Goldman's assets in Russia, including its 5% stake in Russia's largest toy retailer, Detsky Mir (DSKY.MM), were sequestered last month. Otkritie says in a filing with the court that Goldman cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt.

Persons: Goldman Sachs, David Gray, Russia's Otkritie, Goldman, Otkritie, Detsky Mir, Kevin Liffey, Alexander Smith Organizations: REUTERS, Rights, Moscow, Reuters, Thomson Locations: Sydney, Australia, Moscow, London, Russia, United States, Britain, Ukraine

Private equity firms are looking at Statista ahead of a formal sale process, which is likely to kick off later next year, the sources told Reuters. Only once this transaction is finished will a Statista process begin, they added. Asam sits alongside Statista in Stroeer's data-as-a-service and e-commerce division, which it has signalled as non-core to its advertising business. Statista is viewed as non-core because the rest of Stroeer operates out-of-home advertising, online advertising and billboards across Germany. Stroeer acquired a 78.8% majority stake in Statista in December 2015 for around 57 million euros ($61 million).

Persons: JP Morgan, Friedrich Schwandt, Stroeer, Christian Schmalzl, Asam, Statista, Emma, Victoria Farr, Jo Crowley, John O'Donnell, Alexander Smith, David Evans Organizations: Reuters, NASDAQ, Thomson Locations: FRANKFURT, LONDON, Statista, Stroeer, Germany, Hamburg, Frankfurt, London

Surveillance cameras are seen near an iPhone advertisement at an Apple store in Beijing, China September 7, 2023. One of the sources said they had not yet been given a deadline to cease their iPhone use. Apple and China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to requests for comment. Bloomberg on Thursday reported that China planned to broaden the ban to state firms and agencies, citing sources. China has increasingly emphasized using locally made tech products, as technology has become a major national security issue for Beijing and Washington.

Persons: Florence Lo, China's, Tesla, Tim Cook, D.A, Davidson, Tom Forte, Yuvraj Malik, Jaspreet Singh, Brenda Goh, Alexander Smith, Shounak Organizations: Apple, REUTERS, U.S ., Staff, China's, Information Office, Huawei Technologies, Observer, Wall Street Journal, Bloomberg, Citi, Canalys, Government, HK, Huawei, Thomson Locations: Beijing, China, HONG KONG, BEIJING, Washington, U.S, Hong Kong, Shanghai, Bengaluru

A view of the United Nations Climate Change Conference flags at the venue, in Bonn, Germany, June 6, 2023. "What we want to see, all of us, is a real sense of urgency about reducing CO2 emissions," Roche Vice-Chair Andre Hoffmann said. We need to show action, and I'm not sure that what I've read so far of the COP28 will be strong enough for that." Despite rapidly falling prices for renewable energy, Roche's (ROG.S) Hoffmann said much faster action was needed. "If the change is going to be that big then financial institutions, business people will reshape and they'll say my goodness there's going to be new technological institutions, there's going to be new factories, there's going to be a new economy.

Persons: Jana Rodenbusch, Hoffmann, November's, Roche, Andre Hoffmann, I'm, Eelco van der Enden, Elvis Presley, it's, Celine Herweijer, we've, Herweijer, It's, Andrew Steer, Steer, Richa Naidu, Gloria Dickie, Clara Denina, Iain Withers, Helen Reid, Alexander Smith Organizations: United Nations, REUTERS, Reuters IMPACT, Global, HSBC, Reuters, Fund, Thomson Locations: Bonn, Germany, Asia, Dubai, American, Paris

☆ Moldova puts its debt to Gazprom at $8.6 mln, Russian firm disagrees
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The former Soviet republic, nestled between Ukraine and European Union member Romania, used to buy Russian natural gas. But Gazprom and its Moldovan subsidiary said in late 2021 it had accumulated hundreds of millions of dollars in debt. Prime Minister Dorin Recean added: "After clarifications regarding the debt for natural gas, Moldova and citizens are not obliged to pay the corresponding bills." Parlicov said the auditors had not received documents from Moldovagaz and Gazprom to cover $276 million of the alleged debt. She has previously said that Moldova has no debts to Gazprom for natural gas.

Persons: Victor Parlicov, Dorin Recean, Maria Zakharov, Parlicov, Maia Sandu, Alexander Tanas, Vladimir Soldatkin, Anna Pruchnicka, Alexander Smith, Kevin Liffey, Ron Popeski, David Gregorio Our Organizations: Gazprom PAO, Gazprom, European Union, Romania, Moldovan, Moldova Energy, Foreign Ministry, Moldovagaz, Thomson Locations: CHISINAU, Moldova, Russian, Soviet, Ukraine, Chisinau, Moldovagaz, Moscow

REUTERS/John Muchucha Acquire Licensing RightsSummaryCompanies Fossil fuel subsidies hampering green energy rolloutMore clarity needed on rules for carbon marketsCalls echo Africa Climate Summit on faster actionLONDON, Sept 6 (Reuters) - Ditch fossil fuel subsidies, agree the rules for carbon markets and provide more finance to emerging markets. That was the clear message from business leaders at the Reuters IMPACT conference in London on Wednesday about what they say needs to happen at the forthcoming COP28 climate summit. The meeting of world leaders in Dubai beginning late November is seen as a crucial test of countries' willingness to accelerate action to limit global warming, with efforts so far doing little to stem global carbon emissions. Despite this, failure to remove fossil fuel subsidies would make it harder to expand renewable energy in some countries, Ingka's van der Poel said. "My concern is that we have very little hopes for that ambition to be raised during COP28," she said.

Persons: John Muchucha, Peter Van der Poel, Anél Bosman, Ingka's van der Poel, Helena Viñes, Preeti Srivastav, Andy Griffiths, Richa Naidu, William James, Helen Reid, Simon Jessop, Alexander Smith Organizations: REUTERS, Reuters IMPACT, Ingka Investments, Africa Climate Summit, Nedbank Corporate, Investment Banking, Sustainable Finance, Asahi Europe, Diageo, Thomson Locations: Nairobi, Kenya, London, Dubai, Africa

☆ U.S. dollar lifted by worries over global growth; Aussie sinks
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - The dollar rose on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency, while the Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro, was down 0.72% after hitting a near 3-month low against the dollar at $1.0719. The U.S. dollar also climbed against China's currency, and was last up 0.42% at 7.3081 against the yuan traded offshore. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shri Navaratnam, Alexander Smith, Shinjini Ganguli, Mike Harrison Organizations: REUTERS, Aussie, Reserve Bank of, Fed, Federal, U.S, Financial, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

☆ ASML to ship first pilot tool in its next product line in 2023 -CEO
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File photo Acquire Licensing RightsAMSTERDAM, Sept 5 (Reuters) - ASML (ASML.AS) will ship the first pilot tool in its next product line this year as planned, the semiconductor equipment maker's CEO Peter Wennink said, despite some supplier hold-ups. Under pressure from the United States, the Dutch government does not grant ASML licences to export EUV tools to Chinese chipmakers. Like in a camera, the High NA, or high numerical aperture tool, will gather light from a wider angle for up to 70% better resolution, although the ASML tool uses a system of mirrors rather than a lens. Separately, Wennink confirmed that ASML will have more sales in dollar terms from its previous generation "DUV" machines than EUV machines in 2023. ASML is forecasting 30% sales growth this year due in part to strong demand from Chinese customers for the older machines.

Persons: de, Peter Wennink, Wennink, Toby Sterling, Alexander Smith Organizations: REUTERS, Rights, NA, Reuters, Intel, Samsung, SK Hynix, Micron, Thomson Locations: Veldhoven, Netherlands, Eindhoven, United States, Arizona, Taiwan

☆ LSEG explores blockchain for cross-asset digital 'ecosystem'
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/file photo Acquire Licensing RightsSept 4 (Reuters) - London Stock Exchange Group (LSEG.L) is looking into using blockchain to build what it described on Monday as "an end-to-end digital market ecosystem to raise and transfer capital across asset classes". Blockchain, best known as the technology underpinning cryptocurrencies such as bitcoin and other crypto assets, is a digital ledger which records and verifies transactions. LSEG's move comes as a number of mainstream financial institutions are talking about the potential for blockchain to streamline the process of issuing and trading financial assets. "The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent .

Persons: Toby Melville, Murray Roos, Roos, LSEG, Akanksha, Radhika Anilkumar, Savio D'Souza, Rashmi Aich, Alexander Smith Organizations: London Stock Exchange, REUTERS, Financial Times, Reuters, Treasury, Thomson Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG, Bengaluru

☆ Poland's PGE reverses decision to bring forward carbon neutrality target
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

Companies PGE Polska Grupa Energetyczna SA FollowWARSAW, Sept 4 (Reuters) - Polish utility PGE (PGE.WA) said on Monday it was reversing a decision to bring forward its carbon-neutrality target to 2040 from 2050, changing course less than a week after the announcement of a strategy that caused political fallout. PGE is one of a few state-controlled energy firms that is seeking to move away from coal-fired plants in a coordinated overhaul of the country's energy sector. "The Management Board of PGE S.A. repealed the resolution adopting the update of the PGE Group Strategy," PGE said in a statement. "The decision is due to the need to complete the process of establishing the National Energy Security Agency (NABE)." Reporting by Alan Charlish and Marek Strzelecki; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: PGE's, Jacek Sasin, Alan Charlish, Marek Strzelecki, Alexander Smith Organizations: PGE Polska Grupa, WARSAW, PGE, Poland, State, PGE S.A, National Energy Security Agency, Thomson Locations: PGE, Poland, Warsaw

The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.

Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa

☆ Morning Bid: Early Labor Day for markets
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 1 - A look at the day ahead in U.S. and global markets from Mike DolanLabor Day comes a bit earlier for markets this year, with Friday's release of the critical August jobs report coming just ahead of Monday's end-of-season U.S. holiday. A series of updates showed private sector hiring slowing in August, while job openings fell back in July and layoffs jumped. On the flipside, more up-to-date weekly jobless claims fell again and the consensus payrolls estimate has ticked higher from 150,000 only last week. Going into Friday's report, futures markets remain split and stand 50-50 on the chances of another hike by November. And whatever they think about peak rates, markets are also grappling with the prospect of rates staying up here for some time.

Persons: Brendan McDermid, Mike Dolan, JP Morgan, Saola, Gita Gopinath, Loretta Mester, Raphael Bostic, Alexander Smith Organizations: New York Stock Exchange, REUTERS, Mike Dolan Labor, JP, Atlanta, HK, European Central Bank, Broadcom, Treasury, P Global, Cleveland Federal, Atlanta Fed, Reuters Graphics, United States Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Hong Kong, Europe

In a memo to staff Ermotti said that 3,000 Swiss jobs would go, while more people would leave of their own accord, for example, through retirement. With a market value of 77 billion Swiss francs, UBS also struck an optimistic note about its short-term outlook. With Credit Suisse in Switzerland intact and independent, as some politicians had hoped, fewer jobs would have been hit. [1/2]Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. Reuters GraphicsThe bumper profit results from a huge one-off gain that reflects how the acquisition costs were far below Credit Suisse's value.

Persons: Ermotti, Sergio Ermotti, Denis Balibouse, Jefferies, Brenna Hughes, John O'Donnell, Noele, Edwina Gibbs, Tomasz Janowski, Alexander Smith Organizations: UBS, Credit Suisse Swiss, Credit Suisse, UBS grapples, REUTERS, Swiss Bank Employees Association, Analysts, Deutsche Bank, Reuters, Credit, Thomson Locations: Switzerland, ZURICH, Swiss, Zurich Switzerland, Zurich, London

☆ Swedish EV maker Polestar's loss narrows as supply chain snags ease
▼ + stars: | 2023-08-31 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

STOCKHOLM, Aug 31 (Reuters) - Swedish electric vehicle (EV) maker Polestar's operating loss narrowed in the second quarter as the auto industry slowly recovers from pandemic-related supply chain bottlenecks. Delayed production starts, job cuts and mounting competition from new Chinese rivals have meant a tough year for the company. While some have cut prices to boost demand from consumers grappling with higher living costs, Polestar has maintained its premium pricing. The company posted a net loss per share of $0.14 in the quarter, compared with $0.12 a year ago. Cash and cash equivalents at the end of the quarter were $1.06 billion, compared with $884.3 million in the preceding three-month period.

Persons: China's Geely, Polestar, Thomas Peter Acquire, Thomas Ingenlath, Marie, Arsheeya, Alexander Smith, Mark Potter Organizations: Volvo, Beijing International Automotive, Auto, REUTERS, Reuters, U.S, Marie Mannes, Thomson Locations: STOCKHOLM, Swedish, Auto China, Beijing, China, Stockholm, Bangalore

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