PRESS DIGEST- Financial Times

Twentytwo13
US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA
Microsoft's series of investments in Indonesia, Thailand, and Malaysia are not surprising, as the tech giant had earlier announced a US$10 billion investment in AI abroad. All eyes are now on the upskilling of the local workforce and the creation of economic opportunities for governments, businesses, and communities in the region. The post US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA appeared first on Twentytw
Reuters
Ahead of Xi visit, Chinese share of French EV market slumps
PARIS (Reuters) -French government efforts to slow an influx of Chinese-made electric vehicles are bearing fruit, industry data show, highlighting one of the most sensitive trade issues when China's president visits next week. A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone of contention when President Emmanuel Macron hosts his Chinese counterpart for a state visit on Monday. France did not wait for a European Union decision on implementing tariffs, instead redesigning its cash bonus scheme in December to exclude the purchase of models made in China, which had rapidly gained market share.
Associated Press
Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett
Everyone knows Warren Buffett 's successor won't be able to match the legendary investor, but Berkshire Hathaway 's board remains confident Greg Abel is the right guy to one day lead the conglomerate into the future. Longtime Berkshire board member Ron Olson told investors gathered Thursday at a conference two days ahead of the company's annual shareholders meeting that Abel understands all the fundamental principles that guided Buffett, like letting Berkshire's companies largely run themselves.
Business Insider Video
How Hoka became a billion-dollar brand by selling comfort
Hoka was founded a little over a decade ago, and the brand is already worth more than $1 billion. We explore the shoe’s design and what makes the brand stand out from its competitors.
Reuters
US stands to lose Canadian natural gas when LNG Canada terminal starts up
The start-up of LNG Canada, the country's first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where demand for the fuel is record high, companies said. Shell-led LNG Canada has begun testing its C$40-billion British Columbia terminal ahead of commercial operations starting in mid-2025. The terminal will process up to 2 billion cubic feet per day (bcfd), representing 11% of current Canadian gas output.
CNN Business
Restaurants are competing for frugal diners’ dollars
Dining out these days might seem like a luxury for Americans pinched by inflation. For some restaurants, it feels like a battle to get them to spend.
Reuters
Strong copper price reviving Peru's mining mojo, minister says
Peru's dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country's mining minister said on Friday. "The price of copper is a great attraction," Romulo Mucho, told Reuters in an interview at his office, a reference to prices that hit two-year peaks of $10,208 a metric ton this week, close to the record high of $10,845 in March 2022. Goldman Sachs earlier in the day hiked its year-end price target to $12,000 per ton, from $10,000 previously, citing the copper market's path into scarcity and expectations of a larger deficit of the key metal needed for electrification.
Reuters
Magna lags profit estimates, cuts annual sales forecast on supply chain snags
(Reuters) -Canada's Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. Auto parts suppliers have been struggling with lower-than-expected demand for their EV components, as carmakers shift their focus toward producing affordable hybrid vehicles instead. Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.
The Telegraph
North Sea oil drilling to continue for a decade after net zero deadline
Oil drilling in the North Sea is to continue for up to a decade beyond Britain’s net zero deadline after dozens of new licences were granted to fossil fuel companies.
Reuters
US utility Southern Co beats Q1 profit estimates on demand boost
Electric and gas utility Southern Co said on Thursday industrial sales have started to show signs of recovery following a soft 2023, after customer growth and higher electricity usage drove a first-quarter profit beat. Retail electricity saw robust customer growth, the company said. It added more than 13,000 residential electric customers and over 7,000 residential gas customers.
Reuters
UPDATE 1-Ahead of Xi visit, Chinese share of French EV market slumps
French government efforts to slow an influx of Chinese-made electric vehicles are bearing fruit, industry data show, highlighting one of the most sensitive trade issues when China's president visits next week. A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone of contention when President Emmanuel Macron hosts his Chinese counterpart for a state visit on Monday. France did not wait for a European Union decision on implementing tariffs, instead redesigning its cash bonus scheme in December to exclude the purchase of models made in China, which had rapidly gained market share.
Reuters
Pioneer reports lower profit ahead of its takeover by Exxon
Earlier in the day, the U.S. Federal Trade Commission gave the go-ahead to Exxon Mobil's $60 billion purchase of the company, but barred Pioneer's former CEO, Scott Sheffield, from joining Exxon's board on allegations he attempted to collude with OPEC to raise oil prices. Sheffield retired as Pioneer's CEO on Dec. 31, but continues to serve on its board and was due to take a seat on Exxon's board when the acquisition closed.
Reuters
India's Adani Green Energy posts Q4 adjusted profit rise on strong power sales
India's Adani Green Energy reported an 86% rise in fourth-quarter adjusted profit on Friday, helped by strong energy sales to customers. The Adani Group company's consolidated adjusted profit rose to 10.34 billion rupees (about $124 million) in the quarter ended March 31, while the revenue from power supply rose 23% to 19.41 billion rupees. The company said it made a one-time gain in the year-ago period, excluding which its fourth-quarter profit would have fallen 39%.
The Telegraph
Beauty queen shot dead after octopus ceviche order led killers to restaurant
An Ecuadorian beauty queen was assassinated after her Instagram post of a plate of octopus ceviche led gunmen to the restaurant where she was dining.
INSIDER
A NATO country says it could join Ukraine's war with Russia if 2 conditions are met
French President Emmanuel Macron said France could send troops if requested by Ukraine in response to a Russian breakthrough.
The Independent
Video shows boy, 6, forced to run on treadmill for being ‘too fat’ before allegedly being murdered by dad
Christopher Gregor allegedly murdered son Corey Micciolo weeks after forcing him to run for being ‘too fat’
HuffPost
Jimmy Fallon Totally Burns His Audience To Spare Anne Hathaway From Embarrassment
The actor clearly didn't read the room, so the "Tonight Show" host bailed her out.
The Telegraph
The trickle of companies leaving China is becoming a flood
In the context of a sprawling global leviathan that has just posted profits of $7.7bn (£6.1bn) in the last three months alone, Shell’s decision to close a small power generation unit in China amounts to little more than a rounding error on its books.
The Guardian
‘A disgrace’: Ratcliffe reads riot act after visiting Manchester United facilities
Manchester United’s chief of football operations has railed at a ‘high degree of untidiness’ in the club’s offices and dressing rooms
People
Heartbreaking Story Behind Dad Who Added Daughter's Necklace to Headstone After His 3 Kids Were Killed (Exclusive)
Ray Simmons dedicates himself to maintaining the resting place of his son Christopher, 16, and daughters Kamryn, 15, and Lindy, 20

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PRESS DIGEST- Financial Times - April 16

Latest stories

US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA

Ahead of Xi visit, Chinese share of French EV market slumps

Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett

How Hoka became a billion-dollar brand by selling comfort

US stands to lose Canadian natural gas when LNG Canada terminal starts up

Restaurants are competing for frugal diners’ dollars

Strong copper price reviving Peru's mining mojo, minister says

Magna lags profit estimates, cuts annual sales forecast on supply chain snags

North Sea oil drilling to continue for a decade after net zero deadline

US utility Southern Co beats Q1 profit estimates on demand boost

UPDATE 1-Ahead of Xi visit, Chinese share of French EV market slumps

Pioneer reports lower profit ahead of its takeover by Exxon

India's Adani Green Energy posts Q4 adjusted profit rise on strong power sales

Beauty queen shot dead after octopus ceviche order led killers to restaurant

A NATO country says it could join Ukraine's war with Russia if 2 conditions are met

Video shows boy, 6, forced to run on treadmill for being ‘too fat’ before allegedly being murdered by dad

Jimmy Fallon Totally Burns His Audience To Spare Anne Hathaway From Embarrassment

The trickle of companies leaving China is becoming a flood

‘A disgrace’: Ratcliffe reads riot act after visiting Manchester United facilities

Heartbreaking Story Behind Dad Who Added Daughter's Necklace to Headstone After His 3 Kids Were Killed (Exclusive)