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☆ OpenAI's $86 billion share sale in jeopardy after Altman firing- The Information
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +1 min

OpenAI and Thrive Capital did not immediately respond to Reuters' requests for comment. The news comes after the board of the company behind ChatGPT fired Altman on Friday. Greg Brockman, OpenAI president and co-founder, who stepped down from the board as chairman as part of the management shuffle, quit the company. The departures blindsided many employees who discovered the abrupt management change from an internal message and the company's public facing blog. Reporting by Gursimran Kaur in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Sam Altman, ChatGPT, Altman, Greg Brockman, OpenAI, Gursimran Kaur, Daniel Wallis Organizations: REUTERS, Microsoft, Thomson Locations: Bengaluru

☆ In ousting CEO Sam Altman, ChatGPT loses its best fundraiser
▼ + stars: | 2023-11-18 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I. But on Friday it was the earnest Altman who was upended after OpenAI’s board, in a surprise move, stripped him of his CEO title and directorship. Directors of the company, now worth about $80 billion, cited a failure to be "consistently candid in his communications." Further details of what finally led to the ouster of Altman were not immediately clear Friday. “You and a small group of rebels get the space to solve an important problem that might otherwise not get solved."

Persons: Sam Altman, Elizabeth Frantz, Sam Altman’s, Altman, Elon Musk’s, “, what’s, ” Altman, Satya Nadella, OpenAI, ”, Greg Bensinger, Diane Craft Organizations: Privacy, Technology, Intelligence, REUTERS, Microsoft, Wednesday, Google, Stanford, Thomson Locations: Washington , U.S, OpenAI, San Francisco, St, Louis , Missouri

Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."

Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York

☆ Eli Lilly extends tender offer to buy Point Biopharma after low participation
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsNov 17 (Reuters) - Eli Lilly (LLY.N) on Friday extended the deadline for Point Biopharma Global (PNT.O) shareholders by about two weeks to Dec. 1 to sell their stock, due to low participation. In October, Lilly agreed to acquire Point Biopharma in an all-cash deal valued at $1.4 billion to gain access to its experimental therapies that enable precise targeting of cancer. Lilly, which has offered to buy Point Biopharma shares at $12.50 a piece and has all regulatory approvals for the deal, said the price will remain the same during the extended period. The tender offer has been extended in order for the companies to satisfy the minimum tender condition.

Persons: Eli Lilly, Mike Segar, Lilly, Mounjaro, Sriparna Roy, Shinjini Organizations: Company, REUTERS, Biopharma, Thomson Locations: Branchburg , New Jersey, Bengaluru

☆ Lilly extends tender offer to acquire Point Biopharma to Dec 1
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: 1 min

Persons: Eli Lilly, Mike Segar, LLY.N, Lilly, Sriparna Roy Organizations: Company, REUTERS, Thomson Locations: Branchburg , New Jersey, Bengaluru

☆ U.S. crude oil fell into a bear market this week and could head lower as China 'haunts the market'
▼ + stars: | 2023-11-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

U.S. crude oil prices entered a bear market this week, down 22% from September highs as traders wrangle over whether the spiral is driven by market fundamentals or just speculation. Phil Flynn, an oil market analyst with the Price Futures Group, said hedge funds have piled into short positions. There is still some "grind lower" in prices in store unless more positive data comes out of China, he said. If prices keep falling, the U.S. will slip from record production because shale producers will have trouble making money and stop investing, he said. The group has blamed speculators for the recent selloff and insisted market fundamentals are strong with China demand healthy.

Persons: Leo Mariani, Roth MKM, Phil Flynn, John Kilduff, Flynn, Kilduff, Matt Maley, Miller, Daniel Yergin, Yergin, Brent, — CNBC's Pippa Stevens Organizations: West Texas, Brent, Price Futures, Energy Information Agency, Again, Traders, P Global, Organization of, Petroleum, UBS, OPEC Locations: China, U.S, Canada, Brazil, Guyana, East, Israel, Persian, Hormuz

MILWAUKEE (AP) — After spending the last eight seasons as Craig Counsell’s bench coach, Pat Murphy is taking over for his former boss as the Milwaukee Brewers’ manager. Counsell took over as the Brewers’ manager when Ron Roenicke was fired in 2015. He hired Murphy as his bench coach following that 2015 season. When the Padres hired Andy Green as their full-time manager after the 2015 season, Murphy joined Counsell’s staff in Milwaukee. Weeks played for the Brewers in 2003 and from 2005-14, making the NL All-Star team in 2011.

Persons: Craig Counsell’s, Pat Murphy, Murphy, Counsell, “ Pat Murphy, Matt Arnold, “ Pat, Pat, Ron Roenicke, Bud Black, Andy Green, Star Brandon Woodruff, Corbin Burnes, Willy Adames, Devin Williams, Rickie Weeks, Weeks, “ Rickie, ” Arnold, ” Murphy, ___ Organizations: MILWAUKEE, —, Milwaukee Brewers, The Brewers, Chicago Cubs, Cubs, Brewers, ” Brewers, ”, Athletic, Notre, Fighting Irish, San Diego Padres, Padres, Counsell’s, NL Central, Arizona Diamondbacks, Star, Notre Dame, Arizona State, Sun Devils, Division III Maryville, Claremont, Mudd, Scripps Locations: Milwaukee, Division III Maryville ( Tennessee, Scripps ( California

☆ Musk's Starlink secures $90 mln contract to offer free internet in Mexico
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

SpaceX founder and Tesla CEO Elon Musk speaks on a screen during the Mobile World Congress (MWC) in Barcelona, Spain, June 29, 2021. REUTERS/Nacho Doce/File Photo Acquire Licensing RightsMEXICO CITY, Nov 15 (Reuters) - Starlink, the satellite internet service of billionaire Elon Musk, has secured a 1.56 billion peso ($89.80 million) contract to offer free internet in Mexico until the end of 2026, a Mexican government official said on Wednesday. Mexico has signed contracts for free internet with nine companies, including Starlink, Calderon added. Starlink is also set to provide infrastructure for Mexico's state energy firm through December 2026, according to documents seen by Reuters. The contract to work with Mexico's Comision Federal de Electricidad (CFE) is valued at between 887.5 million pesos and 1.8 billion pesos.

Persons: Elon Musk, Nacho, Musk's, Carlos Emiliano Calderon, Calderon, Raul Cortes Fernandez, Sharon Singleton Organizations: SpaceX, Mobile World Congress, REUTERS, MEXICO CITY, Starlink, Reuters, Mexico's Comision, Thomson Locations: Barcelona, Spain, MEXICO, Mexico

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. Panama has a long mining history but Cobre Panama is the first major new investment this century. There are now calls not just for the Cobre Panama mine to be closed but for Panama to shun all future mining as well. By the time detailed negotiations on a new contract started in 2021, the mine was already ramping up to full production. The tale of Cobre Panama is an object lesson in getting it wrong.

Persons: El Salvador, Rosalba O'Brien Organizations: Minerals, REUTERS, Aris, Quantum, Environmental, Panama's, Justice, Supreme, Canada, Swedish Sámi Association, European Union, Reuters, Thomson Locations: Panama, Donoso, Rincon, Cobre Panama, Canada, American, Europe, Serbia, Scandinavia, Russia, Panamanian

☆ Japan's Kioxia reports Q2 loss, says prices have bottomed out
▼ + stars: | 2023-11-14 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

The result at Bain Capital-backed Kioxia, formerly Toshiba Memory, compares with a loss of 130.8 billion yen three months earlier. Merger talks between Kioxia and Western Digital (WDC.O) have stalled, Reuters reported previously, after Kioxia investor SK Hynix (000660.KS) said it did not back the deal. Selling prices have bottomed out, Kioxia said, pointing to expected higher shipments of smartphones and PCs next year. Revenue fell quarter-on-quarter with Kioxia saying the smaller loss was because of higher average selling prices with a boost from the weaker yen. Separately, Toshiba (6502.T), which holds a stake in Kioxia after selling its chip unit to the Bain-led consortium in 2018, posted a 26.7 billion yen net loss in the second quarter.

Persons: Kioxia, Bain, Sam Nussey, Tom Hogue Organizations: Taipei, REUTERS, Rights, Bain Capital, Toshiba, Western, Reuters, SK Hynix, Samsung Electronics, Revenue, Japan Industrial Partners, Thomson Locations: Taipei, Taiwan, Kioxia, KS

☆ Aclaris shares plummet on terminating development of rheumatoid arthritis drug
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Companies Aclaris Therapeutics Inc FollowNov 13 (Reuters) - Aclaris Therapeutics (ACRS.O) on Monday said it would stop development of its rheumatoid arthritis treatment after it failed in a mid-stage trial, sending its shares plunging 84% before the bell. The trial tested two doses of the drug, zunsemetinib, along with anti-rheumatic drug methotrexate compared to placebo and methotrexate in patients with moderate to severe rheumatoid arthritis who have inadequate response to methotrexate alone. There was no notable differentiation between zunsemetinib and placebo across any measures of efficacy at 12 weeks, the company said. The company will also be halting enrollment in an ongoing mid-stage trial studying the drug in psoriatic arthritis. The drug developer said it is also studying its drug ATI-1777 in patients with moderate to severe atopic dermatitis which is currently in mid-stage trial.

Persons: Sriparna Roy, Maju Samuel Organizations: Aclaris Therapeutics, ATI, Thomson Locations: Bengaluru

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Two Panamanian prosecutors have deemed the contract unconstitutional after examining legal challenges submitted to the court. First Quantum did not reply to a request for comment on the future of the contract pending court proceedings. Panama's mining chamber has urged against canceling the contract, saying First Quantum could sue Panama for at least $50 billion. Another lawyer said the court could also move to declare parts of the contract unconstitutional, which would not annul it completely.

Persons: Maritza Cedeno, Ariel Corbetti, Corbetti, Juan Carlos Arauz, Arauz, Victor Baker, Valentine Hilaire, Divya Rajagopal, Elida Moreno, Denny Thomas, Marguerita Choy Organizations: Minerals, REUTERS, Aris, Jiangxi Copper Co, Reuters, Panama, Thomson Locations: Panama, Donoso, Jiangxi, China

☆ Orsted pulls out of Norway offshore wind consortium
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

Earlier this month the Danish company, the world's largest offshore wind developer, also scrapped two U.S. offshore wind projects, flagging $5.6 billion in related impairments as costs ballooned due to rising interest rates and supply bottlenecks. Olsen Renewables AS, and Norwegian power producer Hafslund formed the Blaavinge consortium in 2021 to take part in planned offshore wind tenders in Norway. Olsen Seawind and Hafslund will not be able to participate in the bottom-fixed wind tender now that Orsted has pulled out of the consortium, Bonheur said. However, they still plan to work on a tender for floating offshore wind turbines. Norway has yet to announce the date for a floating offshore wind tender.

Persons: Tom Little, Orsted, Bonheur's, Olsen, Fred, Hafslund, Olsen Seawind, Bonheur, Nerijus Adomaitis, Susan Fenton Organizations: REUTERS, Rights, Bonheur ASA, Fred, Olsen Seawind ASA, Olsen Renewables AS, Thomson Locations: Nysted, Denmark, Rights OSLO, Norway, Danish, Norwegian

☆ 10 in-demand, low-stress jobs—one pays more than $100,000 per year
▼ + stars: | 2023-11-10 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

Stress level: 52 Media salary: $113,940Packaging and filling machine operator and tenderPackaging and filling machine operators work in places like factories preparing goods for shipment. Stress level: 52 Media salary: $36,750ArchivistArchivists are responsible for safeguarding important historical documents. Stress level: 53 Media salary: $60,800Electromechanical equipment assemblerElectromechanical equipment assemblers put together and maintain various machines or parts of machines (like dynamometers and actuators). Stress level: 53 Media salary: $76,480Fuel cell engineerFuel cells produce electricity using energy from elements like hydrogen. Stress level: 55 Media salary: $44,930Machine feeder and offbearer

Persons: assemblers Organizations: America Survey, Occupational

Washington in mid-October issued a general license lifting through April sanctions on the country's oil production and exports. POLICY SHIFTThe U.S. imposed sanctions on Venezuela's oil industry to try to oust President Nicolas Maduro, whose 2018 re-election it considers a sham. In the last three weeks, PDVSA has signed new term deals to sell products, including fuel oil and asphalt cement with little known firms. LINING UPShortly after sanctions were eased last month, Trafigura chartered a vessel to pick up a fuel oil cargo at a Venezuelan port. The firm that won the offer is Romania-registered Ke Lo Ke Mgmt, PDVSA documents seen by Reuters showed.

Persons: Marco Bello, Nicolas Maduro's, PDVSA, Nicolas Maduro, Joe Biden's, Trafigura, Lo, Ke Lo Ke, Gunvor, Marianna Parraga, Gary McWilliams, Barbara Lewis Organizations: REUTERS, Gunvor, Reuters, Bloomberg, Thomson Locations: Puerto Cabello, Carabobo, HOUSTON, Washington, U.S, Venezuela, PDVSA, Venezuelan, Romania

It said it would tender for a new external auditor as part of "best practice for audit firm rotation". PwC has audited Westpac since 2002, before which PwC partners and their ancestor firms had audited the bank since 1968. However, PwC's lead Westpac audit partner assumed the role less than two years ago, in December 2021, according to a Westpac governance statement this month. A PwC Australia spokesperson said the firm understood the board's decision and was proud of its time as Westpac's auditor. Renamed Scyne Advisory, roughly 1,400 of PwC Australia's more than 9,000 staff moved over to the new firm.

Persons: Loren Elliott, PwC, Lewis Jackson, Christopher Cushing, Robert Birsel Organizations: Westpac, Central Business District of, REUTERS, Rights, Westpac Group, PricewaterhouseCoopers, PwC's, Google, Uber Technologies, Facebook, Meta, PwC, Scyne Advisory, Scyne, Thomson Locations: Central Business District of Sydney, Australia, PwC Australia

☆ Japan's Fuji Soft to launch tender offer for 4 listed subsidiaries -Bloomberg News
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 8 (Reuters) - Software developer Fuji Soft (9749.T) is planning to announce a tender offer on Wednesday for four listed subsidiaries in Japan, Bloomberg News reported, citing people familiar with the matter. Trading was halted in Tokyo for the subsidiaries Vinx (3784.T), Cyber Com (3852.T), Cybernet Systems (4312.T) and Fuji Soft Service Bureau (6188.T). Fuji Soft holds a more than 50% stake in the companies, according to LSEG data. Fuji Soft was the subject of a proxy battle last year, when Singapore-based investment hedge fund 3D Investment Partners got two of its nominees on the Japanese company's board. Reporting by Rocky Swift; Editing by Tom Hogue and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Rocky Swift, Tom Hogue, Jamie Freed Organizations: Software, Fuji, Bloomberg News, Cybernet Systems, Fuji Soft Service Bureau, Investment Partners, Thomson Locations: TOKYO, Japan, Tokyo, Singapore

Renamed Scyne Advisory, roughly 1,400 of PwC Australia's more than 9,000 staff have moved over to the new advisory firm. It said it would tender for a new external auditor as part of "best practice for audit firm rotation". PwC has audited Westpac since 2002, before which PwC partners and their ancestor firms had audited the bank since 1968. However, PwC's lead Westpac audit partner assumed the role less than two years ago, in December 2021, according to a Westpac governance statement this month. A PwC Australia spokesperson said the firm understood the board's decision and was proud of its time as Westpac's auditor.

Persons: Lewis Jackson, PwC, Robert Birsel, Stephen Coates Organizations: REUTERS, Rights, Wednesday, Scyne Advisory, Scyne, Google, Uber Technologies, Facebook, Meta, WESTPAC, Westpac Group, Westpac, PwC's, Thomson Locations: Barangaroo, Australia

☆ Mayan Toledano’s vibrant photographs of queer life in Mexico City
▼ + stars: | 2023-11-07 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

Toledano, who is primarily based in New York, found a welcoming second home in Mexico City in 2018 through a circle of queer and trans creatives that expanded with each visit. Jovana, Sheila, Karla and Andrea, 2019 Mayan Toledano“The getting-ready part is sometimes the party,” Toledano explained in a phone interview. In Mexico City, Toledano’s images became a mix of both candid and staged moments. Greta, Aine, Mar and Zury on the Wall at Magia Ilegal, Ixtapaluca Mayan Toledano“That was a moment of stillness. Havi at Home, 2019 Mayan ToledanoAn American friend of Havi’s had helped organize crowdfunding for the surgery, according to Toledano.

Persons: Mayan Toledano, Karla, Toledano, glammed, Karla’s, Jose Cuervo, Sheila, Andrea, ” Toledano, Maria Mariposa, Uma, Ada, Maria Isas, it’s, “, ”, Bella Hadid, Paris Hilton, Maria, Aine, Toledano’s, Havi, Havi’s, ‘, “ Protagonism, ” Havi, ” Seb, Sebastian Organizations: CNN, Nike, Damiani Locations: Mexico City, New York, Mexico, Polanco, Paris, Greta, Zury, ”, “

NEW YORK (AP) — There are rituals to an Alexander Payne movie. “The Holdovers” is Payne's attempt to make not just a ‘70-set film but an actual ’70s film, styled after some of the movies he grew up with. “I like talking about other people’s movies more than my own,” Payne shrugged. But there was always that distant dream of not being a filmmaker but just going to film school. Most of us trained in film school like those ’70s guys.

Persons: Alexander Payne, Kevin Tent, Payne, ” Payne, ”, —, Paul Giamatti, David Hemingson, Paul Hunham, Giamatti, Angus Tully, Dominic Sessa, Mary Lamb, Da’Vine Joy Randolph, Leo McCarey's, Payne —, “, ” Payne shrugged, PAYNE, –, Dominic, ” “ Harold, Maude, Hal Ashby, Harold, Maude ”, “ Harold, we’d, they’re, Franco, You’ve, Antonioni, Kurosawa, Citizen Ruth ”, Mike Nichols, Francis Coppola, Lifechanging, Bob Rafelson, Milos Foreman, Jim Taylor, Ivan Passer’s, Milos, Ivan, Jim, Fireman’s, Wes Anderson, Paul Thomas Anderson, ” “, David O, Russell, Spike Lee, Jim Jarmusch —, Steven Soderbergh, “ Soderbergh, Jake Coyle Organizations: eBay, New, Somerville Theatre, Stanford, Columbia School of Journalism, Castro Theatre, Times, Franco, Citizen, “, ”, MOMA Locations: Omaha , Nebraska, New England, Manhattan, Boston, “, San Francisco, Spain

☆ Musk's Starlink wins bid to roll out Mexico's rural satellite internet -documents
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

SpaceX logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMEXICO CITY, Nov 6 (Reuters) - Starlink, the satellite internet service of billionaire Elon Musk's rocket manufacturer SpaceX, has won a tender from Mexico's state energy firm to provide services through December 2026, according to documents seen by Reuters on Monday. The contract is valued between 887.5 million pesos ($51 million) and 1.8 billion pesos ($101 million), according to the decision from Mexico's Comision Federal de Electricidad (CFE). Starlink's bid beat out those of two other companies because it "offered the best conditions in terms of price," the document said. The contract would provide infrastructure for CFE's rollout of internet access throughout rural Mexico, according to a separate document seen by Reuters, a draft contract from CFE.

Persons: Elon, Dado Ruvic, Starlink, Adriana Barrera, Kylie Madry, Matthew Lewis Organizations: SpaceX, REUTERS, MEXICO CITY, Reuters, Comision, CFE, Thomson Locations: MEXICO, Mexico

☆ Exclusive: Canadian winner of gas rights on Congo's 'killer' Lake Kivu failed criteria
▼ + stars: | 2023-11-02 | by ( Sonia Rolley | ) www.reuters.com time to read: +9 min

[1/5] Aerial view shows Lake Kivu and the skyline of the city of Goma, North Kivu province, Democratic Republic of the Congo October, 21, 2023. First to be auctioned were three methane blocks in Lake Kivu, sometimes dubbed a "killer lake" because of a risk of deadly eruption. The documents do not show why Alfajiri was included in the auction, who requested that the report be edited, or why. Lake Kivu is one of three lakes in Africa scientists say are at risk of limnic eruption. The report's second version - also dated Dec. 8 and seen by Reuters - raised Alfajiri's score to 55.75, putting it ahead of Winds.

Persons: Arlette, Felix Tshisekedi, Alfajiri, Didier Budimbu, Christian Hamuli, Hamuli, Joseph Nzau, Budimbu, Alfajiri's Hamuli, vulcanologist Dario Tedesco, Alfajiri's, Frank Ihekwoaba, Alessandra Prentice, Bate Felix, Joe Bavier, Frank Jack Daniel Our Organizations: Democratic, REUTERS, Reuters, Alfajiri Energy Corporation, Investigative Journalism, Exploration, Ray Group, Ray, Thomson Locations: Lake Kivu, Goma, North Kivu province, Democratic Republic of, Congo, Democratic Republic of Congo, Canada, Calgary, Rwanda, Kivu, Africa, Congolese, U.S

☆ GE Healthcare Discloses Potential Foreign Bribery Violations in China
▼ + stars: | 2023-11-01 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

GE HealthCare Technologies says it found ‘tender irregularities and other potential violations’ of the Foreign Corrupt Practices Act related to its activities in some Chinese provinces. Photo: Cfoto/Zuma PressGeneral Electric spinoff GE HealthCare Technologies said it reported potential foreign bribery violations in some of its operations in China to U.S. regulators. GE HealthCare found “tender irregularities and other potential violations” of the Foreign Corrupt Practices Act related to its activities in some Chinese provinces, according to a quarterly report filed by the company with the Securities and Exchange Commission on Tuesday.

Organizations: GE HealthCare Technologies, Zuma Press General Electric, GE HealthCare, Securities and Exchange Commission Locations: China, U.S

☆ Congested Bogota Secures $415 Million IDB Credit for Second Metro Line
▼ + stars: | 2023-11-01 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BOGOTA (Reuters) - The board of directors of the Inter-American Development Bank (IDB) on Wednesday approved a $415 million credit line, with an initial disbursement of $50 million, to finance Bogota's second metro line, the Colombian capital's mayor said. The underground Line 2 will connect to the city's west, said Mayor Claudia Lopez, who finishes her term this year after overseeing initial construction on Bogota's long-awaited first metro line. At a price tag of 34.9 trillion Colombian pesos ($8.5 billion), Line 2 is expected to benefit nearly 2.5 million inhabitants and stretch 15.5 kilometers (9.63 miles) connecting 11 stations. Line 1, currently being constructed by Chinese companies Harbor Engineering Company and Xi'an Metro Co., extends 23.9 kilometers overground - despite opposition by President Gustavo Petro, who wanted part of the line to be constructed underground. The metro is considered critical to reducing the chaotic traffic in the capital of more than eight million residents and will complement the existing TransMilenio bus system.

Persons: Claudia Lopez, Lopez, Gustavo Petro, Luis Jaime Acosta, Sandra Maler Organizations: Inter, American Development Bank, Colombian capital's, European Investment Bank, Development Bank of Latin America, Harbor Engineering Company, Xi'an Metro Co Locations: BOGOTA, Colombian, Bogota, Xi'an

The winner of the lucrative contract will then have an option to build three more nuclear reactors in the country. Last year, the Czech government excluded Russia’s energy giant Rosatom and China’s CNG from the tender process on security grounds. Political Cartoons View All 1227 ImagesPrime Minister Petr Fiala said Russian participation in the project, which is critical for the Czech Republic's energy security, was “unimaginable” following the Kremlin’s invasion of Ukraine. The Czech Republic already relies on six nuclear reactors to generate more than a third of its total electricity. In a separate deal, CEZ had signed a deal with U.S. energy giant Westinghouse Electric Co. to supply nuclear fuel for the Dukovany nuclear plant, eliminating dependence on Russia for such fuel.

Persons: Korea’s, CEZ, Petr Fiala Organizations: U.S, Westinghouse, France’s EdF, Union, Westinghouse Electric Co Locations: PRAGUE, Czech, Ukraine, Czech Republic, Dukovany, Austria, Germany, Central Europe, Slovakia, Hungary, Poland, Russia

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