Tag Archives: Industry (TRBC level 1)

UPDATE 1-Telefonica is in exclusive talks with investors for the Brazilian fiber unit | Instant News


(Write with COO comments)

MADRID, February 25 (Reuters) – Telefonica is in exclusive talks with financial investors about setting up a joint fiber optic venture in Brazil, Chief Operating Officer Angel Vila said Thursday.

The Spanish telecommunications group plans to expand high-speed fiber-optic coverage to more cities in Brazil, following a similar project launched in Germany in partnership with insurance company Allianz.

“Brazil is the size of a continent. Our capital expenditure (capex) will not reach everything, “Vila told Reuters.

After speaking with many potential partners, the company has held exclusive talks with “international operators with a financial and infrastructure profile”, said Vila, declining to name investors.

Talks have progressed, he added, but “in this situation you can never say 100% that you will sign.”

Previously Vila told analysts that the second phase of development could be done through agreements with fiber owners such as the American Tower.

Telefonica is already using the infrastructure of larger US companies in the Brazilian states of Minas Gerais and Vila said they “may be interested in consolidating” the agreement.

Vila said she could not confirm a Bloomberg News report that exclusive talks were held with Canadian pension fund Caisse de depot el placement du Quebec (CDPQ), due to a confidentiality agreement.

“CDPQ is a top class long-term global investor, that would be very attractive,” he added.

American Tower did not immediately respond to a request for comment. CDPQ could not be reached immediately.

Telefonica plans to hold half of the business through Telefonica and its local branch Telefonica Brasil.

Vila told analysts by conference call that it could expand the unit later through acquisitions.

Telefonica cut its dividend after reporting a 10% drop in previous 2020 earnings on Thursday, although it expects business to stabilize this year. (Reporting by Isla Binnie, Eid by Inti Landauro, Kirsten Donovan)

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Germany bans Salafi Muslim groups | Instant News


BERLIN, February 25 (Reuters) – German authorities carried out raids at several locations in Berlin and Brandenburg on Thursday after banning Berlin’s Salafi Muslim group, police said.

Berlin’s senate interior department on Thursday said it had banned the “jihad-salafi” association Jama’atu Berlin, also known as the Berlin Tauhid, and that police had carried out the raid, without providing further details.

The German newspaper Tagesspiegel said the group glorified the battle for “Islamic State” on the internet and called for the killing of Jews, adding that criminal proceedings were awaiting decisions against some of its members.

The newspaper added that the group had been in contact with Anis Amri, a Tunisian asylum seeker who failed with Islamic ties, who hijacked a truck and took it to a Christmas market in Berlin, killing 12 people in 2016.

Salafis – strict Sunni Muslims – include peaceful private individuals, activists seeking to implement Sharia law, and militants who advocate violence to establish a state they perceive to represent true Islam.

The number of Salafis has risen in Germany to an all-time high of 12,150 in 2019, Germany’s domestic intelligence said in its annual report last year, listing them among “Islamic extremists”.

It said the number of Salafis has more than tripled since 2011 and that Salafi groups in Germany are going through a consolidation stage, adding that followers remain a low profile in public. (Reporting by Riham Alkousaa; editing by Philippa Fletcher)

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UPDATE 2-Adecco Switzerland sees a steady recovery as COVID restrictions easing | Instant News


* The company sees steady improvements in early 2021

* CFO sees further recovery when restrictions are lifted

* First quarter earnings tend to be flat

* The company continues its 600 million euro share buyback (Update with share prices, analyst and executive comments)

ZURICH, February 25 (Reuters) – Adecco Group sees a steady recovery in the labor market and does not expect the increase to be thwarted by the latest COVID-19 restrictions across Europe, the Swiss employment firm said on Thursday.

Adecco said many entrepreneurs have learned to overcome social distancing rules and other restrictions, while it is hoped that measures to tackle the latest COVID-19 spike will subside.

The company, whose operations help signal the health of the broader economy, said earnings in January and February were close to returning to pre-crisis levels helped by increased hiring in fast-growing areas such as e-commerce and logistics.

“The risk of pulling back is limited,” Chief Financial Officer Coram Williams told Reuters. “We are clearly at a point where the restrictions have become the strictest and the volume is resilient. We should see further restoration and improvement but only if those restrictions are actually lifted. “

Switzerland on Wednesday said it would ease restrictions starting March 1 and Britain has laid out plans to ease the measures, although shops, restaurants and schools remain closed in many European countries.

In January and February, Adecco’s revenue decreased 2% compared to the previous year, an upward trend from a 5% decline in the fourth quarter and a 15% decline in the third quarter.

“We are a good barometer of the economy and we are close to pre-crisis levels if you look at our earnings,” Williams said.

Adecco’s new confidence echoes rivals Randstad and ManpowerGroup who both say they are seeing a steady increase in hiring.

During the fourth quarter, Adecco’s revenue fell to 5.41 billion euros ($ 6.59 billion), beating estimates of 5.27 billion euros in the consensus views of analysts compiled by the company.

Fourth-quarter net profit of 149 million euros beat estimates of 116 million euros. Shares were up 1.6% in early trading.

Williams said Adecco is expected to post revenue growth during the second quarter of this year after a 28% drop in the COVID-hit second quarter of 2020.

Earnings will likely be flat in the first quarter with “little chance of growth,” Williams said.

The company proposed a 2020 dividend of 2.50 Swiss francs, the same rate as 2019, and said it would continue the 600 million euro share buyback scheme that was halted at the start of the crisis.

$ 1 = 0.8214 euros Reported by John Revill; Edited by Michael Shields and Edmund Blair

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EasyJet sees flight and holiday bookings soar with hopes of UK travel restart | Instant News



LONDON, Feb.23 (Reuters) – EasyJet said flight bookings jumped more than 300% and holiday bookings jumped more than 600% week on week, after Britain planned the restart international travel, suggesting that the borders could reopen from mid-May. The British airline said travel from the UK to seaside destinations such as Malaga, Alicante and Palma in Spain, Faro in Portugal and Crete, Greece were the most popular destinations with the most eager holidaymakers. to travel in August. Reservations have come about despite continued uncertainty over how and when to reopen international routes. Vacationers will know more on April 12, when the government publishes a travel review. He said a lockdown ban on most international travel will remain until at least May 17. Britain’s vaccination plan is progressing rapidly and more than 17.7 million people, or a quarter of the population, have already received a first dose of the vaccine. hopes desperate airlines and travel agents to start generating revenue after pandemic restrictions that the UK can lift holiday bans and quarantine restrictions and allow travel from mid-May Governments foreigners must also agree that UK holidaymakers can visit without the need for quarantine. Currently, France and Spain, for example, have closed their borders to the British due to new variants of the coronavirus. (Report by Sarah Young, edited by Paul Sandle).



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UPDATE 1-Samsung Heavy South Korea completed a $ 149 million Brazilian corruption investigation | Instant News


(Added Samsung Heavy archives; paragraph 4)

BRASILIA, February 23 (Reuters) – South Korean shipbuilder Samsung Heavy Industries agreed to pay 812 million reais ($ 148.56 million) in a waiver deal with Brazilian authorities to complete a corruption investigation, federal prosecutors said late Monday.

On its website, the prosecutor’s office said the deal was part of global negotiations between US and Brazilian companies and authorities to resolve alleged crimes over contracts with state-owned oil maker Petroleo Brasileiro SA.

A Samsung Heavy representative confirmed that the company signed a pact with Brazilian authorities but declined to comment further, saying more information would be disclosed in the regulatory filing.

In Tuesday’s regulatory filing, Samsung Heavy said, “The company has accepted and approved the results of the Brazilian authorities’ investigation to resolve management uncertainties, which may arise from the litigation process, if it lasts long.”

Petrobras, as Brazil’s company is called informally, is at the center of an investigation into Operation Car Wash, Brazil’s biggest corruption scandal, which has involved hundreds of government officials and businesses since 2014.

US authorities have been involved in past settlement deals related to the Petrobras corruption investigation because the company has US-listed storage shares.

Under the agreement, Petrobras will receive compensation of 706 million reais, while Samsung Heavy will pay a fine of 106 million reais to the government. ($ 1 = 5,4659 reais) (Reporting by Ricardo Brito and Jake Spring; Additional reporting by Heekyong Yang in Seoul; Editing by Aurora Ellis and Clarence Fernandez)

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