DIRS.INFO The most relevant business & tech news

REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down more than 10% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. Shares in the Copenhagen-based group slid 11.1% by 0904 GMT, to their lowest level in three years. The group already warned in August of a steeper decline in global demand for shipping containers by sea this year. Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Jon Nazca, Moller, Vincent Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Thomson Locations: Algeciras, Spain, COPENHAGEN, Copenhagen

[1/2] Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down 17.5% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. The industry invested heavily in new container ships during and after the pandemic to meet strong demand and benefit from record freight rates. A large number of new ships entered the market since the summer with no signs of idling or scrapping, said Clerc.

Persons: Jon Nazca, Moller, Vincent Clerc, Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Johannes Birkebaek, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Revenues, Thomson Locations: Algeciras, Spain, COPENHAGEN, North America, Copenhagen

☆ Taylor Swift's re-recording of '1989' dominates UK music charts
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 3 (Reuters) - U.S. music star Taylor Swift topped the UK singles and albums charts on Friday with her re-recording of her award-winning hit album "1989". 1 on the Official Albums Chart with "184,000 chart units, more than double that of the original 1989’s opening-week sales of 90,000," the Official Charts Company said in a statement. The feat means the new release, which outperformed the rest of the Top 10 combined this week, is Swift's 11th UK No.1 album. She is the woman with the most UK No.1 albums this century, the Official Charts Company said, adding “1989” (Taylor’s Version) also topped vinyl charts. Braun sold Swift's master recordings to a private equity company in a deal reported to be worth more than $300 million.

Persons: Taylor Swift, Taylor, Scooter Braun, Braun, Marie, Louise Gumuchian, Nick Macfie Organizations: Company, Big Machine, Thomson

☆ Hedge fund JAT calls on Overstock.com to replace CEO - filing
▼ + stars: | 2023-11-03 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 3 (Reuters) - Hedge fund JAT Capital urged the board of internet retailer Overstock.com (OSTK.O) to replace the company's chief executive officer, arguing that Jonathan E. Johnson III is to blame for poor financial performance. JAT, run by John Thaler, owns a 9.6% stake in Overstock.com, and is stepping up pressure, having called on the company in October to consider selling certain assets and to overhaul management compensation. "The current CEO needs to be removed immediately," JAT wrote to the board in a letter dated Nov. 2 and made public in a regulatory filing on Friday. Thaler, who wrote the letter just days before Overstock.com's analyst day on Monday, proposed that businessman and television personality Marcus Lemonis, who joined the Overstock.com board last month, should become CEO. Overstock's stock price climbed nearly 3% on Friday but has lost 23% in the last 52 weeks.

Persons: Jonathan E, Johnson, John Thaler, JAT, Thaler, Marcus Lemonis, Lemonis, Svea Herbst, Bayliss, Louise Heavens Organizations: Capital, Bed, Svea, Thomson Locations: Overstock.com

British Prime Minister Rishi Sunak attends an in-conversation event with Tesla and SpaceX's CEO Elon Musk in London, Britain, Thursday, Nov. 2, 2023. Risks around rapidly-developing AI have been an increasingly high priority for policymakers since Microsoft-backed Open AI (MSFT.O) released ChatGPT to the public last year. "It was fascinating that just as we announced our AI safety institute, the Americans announced theirs," said attendee Nigel Toon, CEO of British AI firm Graphcore. China’s vice minister of science and technology said the country was willing to work with all sides on AI governance. Yoshua Bengio, an AI pioneer appointed to lead a "state of the science" report commissioned as part of the Bletchley Declaration, told Reuters the risks of open-source AI were a high priority.

Persons: Rishi Sunak, Tesla, Elon Musk, Kirsty Wigglesworth, Sam Altman, Kamala Harris, Ursula von der Leyen, China –, Sunak, Finance Bruno Le Maire, Vera Jourova, Jourova, Harris, Nigel Toon, Wu Zhaohui, Musk, you’ve, Martin Coulter, Paul Sandle, Matt Scuffham, Louise Heavens Organizations: British, Elon, U.S, European Commission, Microsoft, of, Finance, EU, Reuters, Thomson Locations: London, Britain, China, Bletchley, U.S, South Korea, France, United States

A help wanted sign hangs in a bar window along Queen Street West in Toronto Ontario, Canada June 10, 2022. Canada added a net 17,500 jobs in October, Statistics Canada data showed. The softer-than-anticipated jobs report follows data out earlier this week indicating that the economy likely slipped into a shallow recession in the third quarter. "This will keep the Bank of Canada pinned more fully to the sidelines, although we still believe that rate relief remains a distant prospect." The services sector gained 10,000 jobs, led by information, culture and recreation as well as healthcare and social assistance.

Persons: Carlos Osorio, Royce Mendes, that's, Paul Smith, Doug Porter, Ismail Shakil, Steve Scherer, Fergal Smith, Nivedita Balu, Dale Smith, Louise Heavens, Andrea Ricci Organizations: Queen, West, REUTERS, Statistics, Reuters, Desjardins, Bank of Canada’s, The Bank of Canada, BoC, P, P Global Market Intelligence, CENTRAL BANK, Canadian, BMO Capital Markets, Bank of Canada, Thomson Locations: Toronto Ontario, Canada, OTTAWA, Statistics Canada, Ottawa, Toronto

Strikes at car and truck plants are likely to have a widespread impact on manufacturing activity given their large supply chains. Energy consumption by industrial users steadied over the third quarter, which was consistent with the worst of the manufacturing downturn being over. The stabilisation of both diesel and industrial electricity sales in the summer was consistent with manufacturing activity steadying ahead of a renewed expansion. Because the industrial downturn has been long but shallow, distillate inventories remain well below the long-term seasonal average. Return to expansion would likely cause diesel stocks to deplete rapidly and put upward pressure on industrial prices quickly.

Persons: Andrew Kelly, John Kemp, Louise Heavens Organizations: REUTERS, Institute, Supply, Federal Reserve, Global, U.S, Thomson, Reuters Locations: IceStone, New York City , New York, U.S, Chartbook

☆ As open enrollment begins for Affordable Care Act health insurance marketplace, here's what you need to know for 2024
▼ + stars: | 2023-11-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Getty ImagesFor millions of people, it's time to compare benefits and prices and pick health coverage on the Affordable Care Act health insurance marketplaces. The enrollment will likely stay high this year, according to Jennifer Sullivan, director of health coverage access at the CBPP. Moreover, with some people set to lose Medicaid or Children's Health Insurance Program coverage, they may need to move to marketplace coverage. People who lost coverage via those plans who are moving to the Affordable Care Act health insurance marketplace will have a special enrollment period until the end of next July, Sullivan noted. watch nowHowever, for everyone looking to enroll in a marketplace health plan for next year, it's best to try to do it sooner rather than later.

Persons: Jennifer Sullivan, Sullivan, it's, Louise Norris, Norris Organizations: Affordable, Center, Budget, Children's Health, Care, D.C, Navigators Locations: Jan, Washington, Idaho, Virginia

☆ After the Divorce, a Different Kind of Family
▼ + stars: | 2023-11-02 | by ( Louise Rafkin | ) www.nytimes.com time to read: +1 min

“Tammy had a Wednesday Addams flair: jet-black hair, a biker jacket and Doc Martens with yellow laces,” he said. For three years, they were on and off, the off times because of his heavy drinking. She traveled to see him in Alaska when possible, and after one visit, she became pregnant. In January 1996, with one semester of college left to finish, she left her studies and moved to Alaska to be with him. “I sometimes wonder if becoming pregnant was a way of escaping the void of life after graduation,” she said.

Persons: Keith, ”, Tammy, Doc Martens, “, Satterlee Organizations: Mount Ida Locations: Newton, Anchorage, Alaska

☆ New TV show '007: Road To A Million' brings Bond-like tasks to screens
▼ + stars: | 2023-11-02 | by ( Hanna Rantala | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - From scaling mountains and cranes to coming face-to-face with crocodiles and snakes, contestants travel the world tackling James Bond-inspired challenges in new TV adventure series "007: Road To A Million" in the hope of winning 1 million pounds ($1.2 million). "The idea is really to put ordinary people into a James Bond adventure and we didn't quite know how that would work out," executive producer David Glover told Reuters. "It's thrilling because... they're really not James Bond but they have heart and they're lovely and... they're heroic in their own way." [1/3]An assistant poses with the James Bond 007 Special Issue 2020 UK Seven-Kilo Gold Proof Coin, the largest coin ever made by The Royal Mint, in London, Britain, March 2, 2020. I thought 'well maybe if I do this, it's probably the nearest I'll ever get to (being a Bond villain),'" Cox said.

Persons: James Bond, Brian Cox, David Glover, they're, Cox, haven't, Henry Nicholls, it's, James, Joey Bone, James Bone, Bond, Barbara Broccoli, Michael G, Wilson, Daniel Craig, Broccoli, Hanna Rantala, Marie, Louise Gumuchian, Rosalba O'Brien Organizations: Reuters, The Royal Mint, REUTERS, Scottish Highlands, Thomson Locations: Scottish, London, Britain

☆ Volkswagen puts off east European gigafactory amid sluggish EV demand
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. It said earlier this year it was in no rush to make a decision. Czech officials said on Wednesday they would start offering their proposed site for Volkswagen's battery plant to other investors, saying they could not afford to wait any longer for a decision. "We cannot continue to hold the land for this project," Fiala told a news conference. Industry minister Jozef Sikela said talks were happening with five investors, with two of those projects on a similar scale to Volkswagen's plans.

Persons: David, Dee, Delgado, Oliver Blume, BEV, Blume, Petr Fiala, Fiala, Jozef Sikela, Jason Hovet, Louise Heavens, Mark Potter Organizations: New York, REUTERS, Rights, Volkswagen, Volkswagen's, Skoda Auto, Thomson Locations: Manhattan , New York City, U.S, Europe, Czech Republic, Hungary, Poland, Slovakia, Salzgitter, Germany, Valencia, Spain, St, Thomas, Canada, Volkswagen's Czech, Czech

☆ Flooded pitch fails to dampen spirits of Ireland's women
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

"Wettest game in history but job done and top of the group with the girlsss," Ireland captain Katie McCabe posted on Instagram after the match in Shkoder. "Ballon Pour," Ireland team mate Louise Quinn commented under the post, a reference to McCabe, like many others, missing the Ballon d'Or ceremony on Monday despite her nomination. After 20 minutes of play the first rumbles were heard, accompanied by torrential rain. The game was scoreless at halftime and play was suspended for an hour as ground staff cleared the waterlogged pitch. Denise O'Sullivan scored the winner in the 88th minute, and with four wins from four games, Ireland have secured the group win and promotion with two games still to play.

Persons: Ireland's Katie McCabe, Dan Peled, Katie McCabe, Louise Quinn, McCabe, Denise O'Sullivan, Sinead Farrelly, Trevor Stynes Organizations: Soccer Football, FIFA, Brisbane Football, REUTERS, Ireland, League, Women's Nations, Thomson Locations: New Zealand, of Ireland, Nigeria, Brisbane, Australia, Republic, Albania, Shkoder, Dublin

REUTERS/Nick Oxford Acquire Licensing RightsNov 1 (Reuters) - Spirit AeroSystems (SPR.N) on Wednesday projected higher-than-expected cash burn for 2023 as it slashed anticipated deliveries of 737 fuselages, but its new CEO said returning the embattled aerospace supplier to positive cash flow will be his "principle goal." "However, we have other cash levers to pull," including organizational inefficiencies and more closely enforcing contracts with its own supply chain, he said. LOWERED 737 DELIVERY EXPECTATIONSOn Wednesday, Spirit increased its anticipated free cash burn to between $275 and $325 million for 2023, compared with the $200 million to $250 million range. Executives said they anticipate positive margins on the 787 program by the first half of 2025 as a result of the agreement with Boeing. Third-quarter cash burn was $136 million, compared with a cash burn of $73 million a year ago.

Persons: Nick Oxford, Patrick Shanahan, Robert Stallard, Shanahan, Abhijith, Maju Samuel, Louise Heavens, Jonathan Oatis, Marguerita Choy Organizations: Spirit AeroSystems Holdings Inc, REUTERS, Boeing, Vertical Research Partners, Airbus, Revenue, Thomson Locations: Wichita , Kansas, U.S, Bengaluru

Orsted, the world's largest offshore wind developer, said it would stop developing its 2,248-megawatt (MW) Ocean Wind 1 and 2 projects in New Jersey. The offshore wind industry has found itself in a perfect storm of rising inflation, interest rate hikes and supply chain delays. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. Orsted, which in June announced plans to invest 475 billion crowns by 2030, said it was in the process of reviewing its investments and could introduce cost-saving initiatives. Orsted's share price has tumbled 52% since an August profit warning, cutting its market value to 112 billion crowns from 235 billion.

Persons: Joe Biden, Norway's, Mads Nipper, Nipper, Bernstein, Deepa Venkateswaran, Jacob Gronholt, Pedersen, Louise Rasmussen, Gursimran Kaur, Terje Solsvik, Michael Perry, Mark Potter Organizations: Wednesday, U.S, BP, Thomson Locations: U.S, New Jersey, New York, Danish, Copenhagen, Bengaluru

☆ Renault had 'friendly' discussions with Chinese investment bank - spokesperson
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Oct 31 (Reuters) - French carmaker Renault (RENA.PA) had "friendly" discussions with Chinese investment bank CICC about potential cooperation, but nothing has been signed or decided so far, a company spokesperson said, confirming media reports. "A meeting took place between CICC and Renault Group for friendly discussions about China's market," a spokeswoman told Reuters. Chinese media outlet Cailianshe reported on Friday that Renault and CICC had reached a preliminary intention agreement to jointly invest to establish an investment fund to focus on the NEV industry chain, citing people familiar with the matter. Cailianshe added that Renault CEO Luca de Meo was in China for a week long visit.

Persons: Gonzalo Fuentes, carmaker, CICC, Luca de Meo, Gilles Guillaume, Brenda Goh, Roxanne Liu, Tassilo Hummel, Marine Strauss, Louise Heavens Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, carmaker Renault, Renault Group, Reuters, Thomson Locations: Porte, Paris, France, CICC, China, Shanghai, Beijing

"BP reported weak numbers this morning...However, notably, BP has reported exceptional gas trading results on several occasions in the last couple of years, including last quarter," said RBC analyst Biraj Borkhataria. In the downstream, customers & products reported $2.1 bln vs consensus $2.4 bln, despite being supported by very strong oil trading results, suggesting weaker refining margin capture in the third quarter." That was up from the $2.6 billion profit the company reported in the prior three months due to higher oil and gas production, strong refining margins, lower refinery maintenance and "a very strong oil trading result", but natural gas marketing and trading were weak. BP expects capital expenditure of $16 billion this year, the lower end of its indicated range of $16-$18 billion. Rivals Chevron (CVX.N) and Exxon Mobil (XOM.N) last week posted sharp year-on-year drops in third quarter profit as energy prices cooled.

Persons: Norway's, Biraj Borkhataria, Murray Auchincloss, Bernard Looney, Ron Bousso, Louise Heavens, Jason Neely Organizations: windfarm, BP, Reuters Graphics Reuters, Rivals Chevron, Exxon Mobil, Thomson, & $ Locations: U.S, British, New York

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Global gold demand excluding over-the-counter (OTC) trading slipped 6% in the third quarter as central bank buying fell short of last year's record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday. Gold demand shot to an 11-year high in 2022 due to the biggest central bank purchases on record. "With geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside," said Louise Street, senior markets analyst at the WGC. Central bank demand totalled 337.1 tons, down from a record 458.8 tons a year before. QUARTERLY GOLD SUPPLY AND DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2023Reporting by Polina Devitt; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Louise Street, Polina Devitt, Jan Harvey Organizations: REUTERS, Gold Council, Gold, Thomson Locations: Mendrisio, Switzerland, Central, Europe

☆ Spain's state fund considers taking Telefonica stake after STC move
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Acting Economy Minister Nadia Calvino has said Madrid will carry out a thorough evaluation before approving STC's stake, while acting labour minister Yolanda Diaz has called for the transaction to be blocked. Spain's SEPI said in a stock market filing on Tuesday that it was carrying out an "exploratory internal analysis over a potential acquisition" of a stake in Telefonica. STC declined to comment on any potential plans by SEPI. Caixabank, which owns 3.5% stake of Telefonica, said last week it would not raise its stake in response to STC's move, and would analyse with Telefonica any potential cooperation with the Saudi Arabian telecoms company.

Persons: Violeta Santos Moura, Spanish telco Caixabank, SEPI, Nadia Calvino, Yolanda Diaz, Spain's SEPI, Belen Gualda Gonzalez, Onur Genc, It's, Genc, Inti Landauro, Pietro Lombardi, Louise Heavens, Alexander Smith Organizations: Spanish Telecom, REUTERS, BBVA, Telefonica Bank, Telefonica MADRID, Telefonica, Saudi, STC, Saudi Arabia's, SEPI, Thomson Locations: Madrid, Spain, Spanish, Saudi Arabian

☆ Berkshire Hathaway sells $25.8 mln worth of shares in China's BYD
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: 1 min

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo Acquire Licensing RightsHONG KONG, Oct 31 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 820,500 Hong Kong-listed shares of electric vehicle maker BYD Co (002594.SZ) for HK$201.73 million ($25.78 million), a stock exchange filing showed. The sale on Oct. 25 lowered Berkshire's holdings in BYD's issued H-shares to 7.98% from 8.05%, the filing to the Hong Kong stock exchange on Tuesday showed. ($1 = 7.8238 Hong Kong dollars)Reporting by Twinnie Siu; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Warren Buffett, Scott Morgan, Berkshire Hathaway, Twinnie Siu, Louise Heavens Organizations: Berkshire Hathaway, REUTERS, HK, Thomson Locations: Omaha , Nebraska, U.S, HONG KONG, Berkshire, Hong Kong, BYD's

☆ Nordic Countries to Cooperate More on Returning Migrants to Countries of Origin
▼ + stars: | 2023-10-31 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By Johannes BirkebaekCOPENHAGEN (Reuters) - The Nordic governments intend to step up their cooperation to return immigrants without legal residence in the region to their countries of origin, ministers from the five countries said in a joint press conference in Copenhagen on Tuesday. However, the Danish model has become more popular as anti-immigration voices have gained traction across the Nordic region. The ministers of Sweden, Finland, Denmark, Norway and Iceland have agreed to strengthen cooperation between diplomatic personnel in charge of returning migrants from the respective Nordic countries to their country of origin. The five countries also have agreed to arrange joint flights to take illegal residents to a third country through the European Border and Coast Guard Agency, Frontex. Lastly, the ministers agreed to "assist stranded irregular migrants in North Africa," who they say will be offered assisted voluntary return to their home countries and assistance in re-establishing themselves in the third country.

Persons: Johannes Birkebaek COPENHAGEN, Ulf Kristersson, Maria Malmer Stenergard, Mari Rantanen, Johannes Birkebaek, Louise Rasmussen, David Gregorio Organizations: Nordic, United Nations, of, European Border, Coast Guard Agency, Frontex, Agency, International Organisation for Migration Locations: Copenhagen, Denmark, Danish, Nordic, Swedish, Finland, Finnish, Sweden, Norway, Iceland, North Africa, Europe, Africa

REUTERS/Steve Marcus/ File Photo Acquire Licensing RightsOct 31 (Reuters) - Caterpillar (CAT.N) reported a double-digit rise in third-quarter profit on Tuesday, beating Wall Street estimates as strong infrastructure investments across key markets boosted demand for its high-end construction equipment in North America. The world's largest construction equipment maker's order backlog fell $2.6 billion quarter over quarter. Construction equipment demand had been resilient as the United States upgrades its roads, railways and other transportation infrastructure under a $1 trillion package approved by Congress in 2021 under the Biden administration. Machinery, Energy and Transportation equipment profit rose 48% from the year prior. Its profit rose to $2.79 billion, or $5.45 per share, outpacing an analysts' forecast of $4.79.

Persons: Steve Marcus, Kristen Owen, Matt Britzman, Hargreaves Lansdown, Biden, outpacing, Bianca Flowers, Devika Syamnath, Louise Heavens, Mark Porter Organizations: Caterpillar, REUTERS, Wall, Oppenheimer, Co Inc, Congress, Machinery, Energy, Thomson Locations: Las Vegas , Nevada, U.S, North America, Texas, United States, Chicago, Bengaluru

☆ Hong Kong Finance Chief to Attend APEC Meet, Side-Stepping Dispute
▼ + stars: | 2023-10-31 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

HONG KONG (Reuters) - Hong Kong's financial secretary Paul Chan will attend an APEC meeting on Nov. 15-17 in San Francisco, it said on Tuesday, standing in for Chief Executive John Lee and smoothing over a diplomatically sensitive issue for both Beijing and Washington. Beijing had previously said Lee, who is subject to U.S. sanctions, should attend. The United States imposed sanctions on Lee in 2020 over his role in the crackdown of pro-democracy demonstrations. Earlier this year, a State Department spokesperson said Washington would work with Hong Kong to ensure "appropriate" participation in the APEC (Asia-Pacific Economic Cooperation) meeting. Hong Kong's statement said Lee was unable to attend due to "scheduling issues" and made no mention of the U.S. sanctions.

Persons: Paul Chan, John Lee, Lee, Wang Yi, Washington, Hong, Chan, Twinnie Siu, Farah Master, Ryan Woo, Louise Heavens, Mark Potter Organizations: Reuters, Chief, Beijing, Foreign, APEC, State Department, Economic Cooperation Locations: HONG KONG, San Francisco, Beijing, Washington, United States, Hong Kong, Asia, U.S

A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. In Massachusetts, two offshore wind developers, SouthCoast Wind and Commonwealth Wind, agreed to pay local utilities to terminate deals that would have delivered around 2,400 MW of energy. Avangrid also canceled a contract to sell power in Connecticut from its proposed 804-MW Park City offshore wind farm.

Persons: Tom Little, Denmark's, Joe Biden, Orsted, Jacob Pedersen, Portugal, France's, Avangrid, Scott DiSavino, Louise Breusch Rasmussen, Ron Bousso, Jonathan Oatis, Josie Kao Organizations: REUTERS, BP, U.S, Analysts, Reuters, Commonwealth, Shell, Energias, Thomson Locations: Nysted, Denmark, U.S, Danish, New York, Massachusetts, Connecticut, Rhode Island and Massachusetts, In Massachusetts, Commonwealth, Spanish, Copenhagen, London, Bengaluru

☆ China's cyberspace regulator summons Alibaba's Quark, Netease CC over vulgar content
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Oct 30 (Reuters) - China's cyberspace regulator on Monday fined the Alibaba-owned (9988.HK) Quark platform 500,000 yuan ($68,342.42) for hosting and promoting vulgar content. The regulator also ordered Netease's (9999.HK) livestream platform Netease CC to suspend the broadcast of some types of dance content for seven days due to vulgar content, the Cyberspace Administration of China said in a statement. Quark said it attaches great important to the matter and relevant illegal content has been banned on the platform, China's state-backed Securities Times reported. ($1 = 7.3161 Chinese yuan renminbi)Reporting by Beijing Newsroom, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Netease's, Quark, Louise Heavens Organizations: REUTERS, Rights, HK, Quark, Cyberspace Administration, Securities Times, Beijing, Thomson Locations: Beijing, China, Rights BEIJING

☆ Amplifon lowers profit forecast on weak demand, global uncertainty
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Amplifon logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Amplifon SpA FollowOct 30 (Reuters) - Italian hearing aid maker Amplifon (AMPF.MI) lowered its full year guidance for recurring core profit on Monday, citing weaker than expected demand in Europe and global economic and political uncertainty. It now sees its recurring earnings before interest, depreciation and amortisation (EBITDA) at about 550 million euros ($582.34 million) for 2023, down from a previous forecast of between 570-585 million euros. Amplifon's recurring EBITDA stood at 109.8 million euros in the third quarter, marginally up from 109.4 million euros a year ago. ($1 = 0.9445 euros)Reporting by Alessandro Parodi, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, EBITDA, Alessandro Parodi, Louise Heavens Organizations: REUTERS, Thomson Locations: Europe, Israel

Search resuls for: "Louise ""

25 mentions found