Tag Archives: Bev

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters.

DIRECTV and Thoughtworks also told Reuters late on Wednesday they have paused their advertising on Twitter.

Brands ranging from Walt Disney Co (DIS.N), NBCUniversal (CMCSA.O) and Coca-Cola Co (KO.N) to a children’s hospital were among more than 30 advertisers that appeared on the profile pages of Twitter accounts peddling links to the exploitative material, according to a Reuters review of accounts identified in new research about child sex abuse online from cybersecurity group Ghost Data.

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Some of tweets include key words related to “rape” and “teens,” and appeared alongside promoted tweets from corporate advertisers, the Reuters review found. In one example, a promoted tweet for shoe and accessories brand Cole Haan appeared next to a tweet in which a user said they were “trading teen/child” content.

“We’re horrified,” David Maddocks, brand president at Cole Haan, told Reuters after being notified that the company’s ads appeared alongside such tweets. “Either Twitter is going to fix this, or we’ll fix it by any means we can, which includes not buying Twitter ads.”

In another example, a user tweeted searching for content of “Yung girls ONLY, NO Boys,” which was immediately followed by a promoted tweet for Texas-based Scottish Rite Children’s Hospital. Scottish Rite did not return multiple requests for comment.

In a statement, Twitter spokesperson Celeste Carswell said the company “has zero tolerance for child sexual exploitation” and is investing more resources dedicated to child safety, including hiring for new positions to write policy and implement solutions.

She added that Twitter is working closely with its advertising clients and partners to investigate and take steps to prevent the situation from happening again.

Twitter’s challenges in identifying child abuse content were first reported in an investigation by tech news site The Verge in late August. The emerging pushback from advertisers that are critical to Twitter’s revenue stream is reported here by Reuters for the first time.

Like all social media platforms, Twitter bans depictions of child sexual exploitation, which are illegal in most countries. But it permits adult content generally and is home to a thriving exchange of pornographic imagery, which comprises about 13% of all content on Twitter, according to an internal company document seen by Reuters.

Twitter declined to comment on the volume of adult content on the platform.

Ghost Data identified the more than 500 accounts that openly shared or requested child sexual abuse material over a 20-day period this month. Twitter failed to remove more than 70% of the accounts during the study period, according to the group, which shared the findings exclusively with Reuters.

Reuters could not independently confirm the accuracy of Ghost Data’s finding in full, but reviewed dozens of accounts that remained online and were soliciting materials for “13+” and “young looking nudes.”

After Reuters shared a sample of 20 accounts with Twitter last Thursday, the company removed about 300 additional accounts from the network, but more than 100 others still remained on the site the following day, according to Ghost Data and a Reuters review.

Reuters then on Monday shared the full list of more than 500 accounts after it was furnished by Ghost Data, which Twitter reviewed and permanently suspended for violating its rules, said Twitter’s Carswell on Tuesday.

In an email to advertisers on Wednesday morning, ahead of the publication of this story, Twitter said it “discovered that ads were running within Profiles that were involved with publicly selling or soliciting child sexual abuse material.”

Andrea Stroppa, the founder of Ghost Data, said the study was an attempt to assess Twitter’s ability to remove the material. He said he personally funded the research after receiving a tip about the topic.

Twitter’s transparency reports on its website show it suspended more than 1 million accounts last year for child sexual exploitation.

It made about 87,000 reports to the National Center for Missing and Exploited Children, a government-funded non-profit that facilitates information sharing with law enforcement, according to that organization’s annual report.

“Twitter needs to fix this problem ASAP, and until they do, we are going to cease any further paid activity on Twitter,” said a spokesperson for Forbes.

“There is no place for this type of content online,” a spokesperson for carmaker Mazda USA said in a statement to Reuters, adding that in response, the company is now prohibiting its ads from appearing on Twitter profile pages.

A Disney spokesperson called the content “reprehensible” and said they are “doubling-down on our efforts to ensure that the digital platforms on which we advertise, and the media buyers we use, strengthen their efforts to prevent such errors from recurring.”

A spokesperson for Coca-Cola, which had a promoted tweet appear on an account tracked by the researchers, said it did not condone the material being associated with its brand and said “any breach of these standards is unacceptable and taken very seriously.”

NBCUniversal said it has asked Twitter to remove the ads associated with the inappropriate content.

CODE WORDS

Twitter is hardly alone in grappling with moderation failures related to child safety online. Child welfare advocates say the number of known child sexual abuse images has soared from thousands to tens of millions in recent years, as predators have used social networks including Meta’s Facebook and Instagram to groom victims and exchange explicit images.

For the accounts identified by Ghost Data, nearly all the traders of child sexual abuse material marketed the materials on Twitter, then instructed buyers to reach them on messaging services such as Discord and Telegram in order to complete payment and receive the files, which were stored on cloud storage services like New Zealand-based Mega and U.S.-based Dropbox, according to the group’s report.

A Discord spokesperson said the company had banned one server and one user for violating its rules against sharing links or content that sexualize children.

Mega said a link referenced in the Ghost Data report was created in early August and soon after deleted by the user, which it declined to identify. Mega said it permanently closed the user’s account two days later.

Dropbox and Telegram said they use a variety of tools to moderate content but did not provide additional detail on how they would respond to the report.

Still the reaction from advertisers poses a risk to Twitter’s business, which earns more than 90% of its revenue by selling digital advertising placements to brands seeking to market products to the service’s 237 million daily active users.

Twitter is also battling in court Tesla CEO and billionaire Elon Musk, who is attempting to back out of a $44 billion deal to buy the social media company over complaints about the prevalence of spam accounts and its impact on the business.

A team of Twitter employees concluded in a report dated February 2021 that the company needed more investment to identify and remove child exploitation material at scale, noting the company had a backlog of cases to review for possible reporting to law enforcement.

“While the amount of (child sexual exploitation content) has grown exponentially, Twitter’s investment in technologies to detect and manage the growth has not,” according to the report, which was prepared by an internal team to provide an overview about the state of child exploitation material on Twitter and receive legal advice on the proposed strategies.

“Recent reports about Twitter provide an outdated, moment in time glance at just one aspect of our work in this space, and is not an accurate reflection of where we are today,” Carswell said.

The traffickers often use code words such as “cp” for child pornography and are “intentionally as vague as possible,” to avoid detection, according to the internal documents. The more that Twitter cracks down on certain keywords, the more that users are nudged to use obfuscated text, which “tend to be harder for (Twitter) to automate against,” the documents said.

Ghost Data’s Stroppa said that such tricks would complicate efforts to hunt down the materials, but noted that his small team of five researchers and no access to Twitter’s internal resources was able to find hundreds of accounts within 20 days.

Twitter did not respond to a request for further comment.

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Reporting by Sheila Dang in New York and Katie Paul in Palo Alto; Additional reporting by Dawn Chmielewski in Los Angeles; Editing by Kenneth Li and Edward Tobin

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Frugal is the new cool for young Chinese as economy falters

BEIJING, Sept 19 (Reuters) – Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands.

Instead, the 39-year old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where they can, rattled by China’s coronavirus lockdowns, high youth unemployment and a faltering property market.

“I no longer have manicures, I don’t get my hair done anymore. I have gone to China-made for all my cosmetics,” Fu told Reuters.

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This new frugality, amplified by social media influencers touting low-cost lifestyles and sharing money-saving tips, is a threat to the world’s second-largest economy, which narrowly avoided contraction in the second quarter. Consumer spending accounts for more than half of China’s GDP.

“We’ve been mapping consumer behaviour here for 16 years and in all of that time this is the most concerned that I’ve seen young consumers,” said Benjamin Cavender, managing director of China Market Research Group (CMR).

China’s ‘zero-COVID’ policy – including stringent lockdowns, travel restrictions and mass testing – has taken a heavy toll on the country’s economy. The government’s crackdown on big technology companies has also had an outsized effect on the young workforce.

Unemployment among people aged 16 to 24 stands at almost 19%, after hitting a record 20% in July, according to government data. Some young people have been forced to take pay cuts, for example in the retail and e-commerce sectors, according to two industry surveys. The average salary in 38 major Chinese cities fell 1% in the first three months of this year, data collated by online recruitment firm Zhilian Zhaopin show.

As a result, some young people prefer to save than splurge.

“I used to go see two movies every month, but I haven’t stepped inside a cinema since the pandemic,” said Fu, an avid movie fan.

Retail sales in China rose just 2.7% year-on-year in July, recovering to 5.4% in August but still well below the mostly 7%-plus levels during 2019, before the pandemic.

Almost 60% of people are now inclined to save more, rather than consume or invest more, according to the most recent quarterly survey by the People’s Bank of China (PBOC), China’s central bank. That figure was 45% three years ago.

Chinese households overall added 10.8 trillion yuan ($1.54 trillion) in new bank savings in the first eight months of the year, up from 6.4 trillion yuan in the same period last year.

That is a problem for China’s economic policymakers, who have long relied on increased consumption to bolster growth.

China is the only leading economy that cut interest rates this year, in an effort to spur growth. China’s big state-owned banks cut personal deposit rates on Sept. 15, a move designed to discourage saving and boost consumption. read more

Addressing the rise in people’s inclination to save, a PBOC official said in July that when the pandemic eases, the willingness to invest and consume will “stabilize and rise.”

The PBOC did not respond to Reuters requests for comment; neither did China’s Ministry of Commerce.

’10 YUAN DINNER’

After years of increasingly ardent consumerism fuelled by rising wages, easy credit and online shopping, a move toward frugality brings young people in China closer to their more cautious parents, whose memories of lean years before the economy took off have made them more inclined to save.

“Amid the tough job market and strong downward economic pressure, young people’s feelings of insecurity and uncertainty are something they never experienced,” said Zhiwu Chen, chair professor of finance at Hong Kong University Business School.

Unlike their parents, some are making a show of their thriftiness online.

A woman in her 20s in the eastern city of Hangzhou, who uses the handle Lajiang, has gained hundreds of thousands of followers posting more than 100 videos on how to make 10 yuan ($1.45) dinners on lifestyle app Xiaohongshu and streaming site Bilibili.

In one minute-long video with nearly 400,000 views, she stir-fries a dish made from a 4-yuan basa fillet, 5 yuan of frozen shrimp, and 2 yuan of vegetables, using a pink chopping board and pink rice cooker.

Social media discussions have sprung up to share money-saving tips, such as the ‘Live off 1,600 yuan a month challenge,’ in Shanghai, one of China’s most expensive cities.

Yang Jun, who said she was deep in credit card debt before the pandemic, started a group called the Low Consumption Research Institute on networking site Douban in 2019. The group has attracted more than 150,000 members. Yang said she is cutting spending and is selling some of her belongings on second-hand sites to raise cash.

“COVID-19 makes people pessimistic,” the 28-year-old said. “You can’t just be like before, spend all the money you make, and make it back again next month.” She said she is now out of debt.

Yang said she has cut out her daily Starbucks coffee. Fu said she switched her makeup powder brand from Givenchy to a Chinese brand called Florasis, which is about 60% cheaper.

French luxury brands leader LVMH (LVMH.PA), which owns Givenchy, and coffee giant Starbucks Corp (SBUX.O) both said sales fell sharply in China in the latest quarter. read more

China has given no signal on when or how it will exit from its zero-COVID policy. And while policymakers have taken various measures in hopes of boosting consumption, from subsidies for car buyers to shopping vouchers, far more money and attention has been directed towards infrastructure as a way of stimulating the economy.

Stability has been the key theme for China’s policymakers this year, experts say, as President Xi Jinping gears up for a third leadership term at next month’s congress of the ruling Communist Party.

“In the past, when you had economic slowdown, consumers were more likely to feel that government policy is going to fix this problem very quickly,” said Cavender at CMR. “I think right now the challenge is when you interview younger consumers they really don’t know what the future holds.”

Fu, the marketing professional, said she has deferred plans to sell her two small apartments to buy a bigger one in a better school district for her son, and has given up for now on upgrading from her Volkswagen Golf.

“Why do I dare not upgrade my house and my car, even if I have the money?” she said. “Everything is unknown.”

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Reporting by Albee Zhang and Tony Munroe
Editing by Bill Rigby

Our Standards: The Thomson Reuters Trust Principles.

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Zelenskiy warns of ‘ugly’ Russian attack before Ukraine Independence Day

  • Russia could do something ‘particularly ugly’, Ukraine warns
  • Ukraine independence day also marks six months since Russia’s invasion
  • Fresh shelling near Zaporizhzhia nuclear plant
  • Daughter of Russian nationalist killed by car bomb

Aug 21 (Reuters) – President Volodymyr Zelenskiy urged vigilance ahead of Wednesday’s celebrations of 31 years of Ukraine’s independence from Soviet rule, as shells rained down near Europe’s biggest nuclear plant and Russian forces struck in the south and east.

Ukrainians must not allow Moscow to “spread despondency and fear” ahead of the Aug. 24 events, which also mark six months since Russia began its full-scale invasion of Ukraine, Zelenskiy said in his nightly video address on Saturday.

“We must all be aware that this week Russia could try to do something particularly ugly, something particularly vicious,” Zelenskiy said.

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In Russia, the daughter of an ultra-nationalist Russian ideologue who advocates Russia absorbing Ukraine was killed in a suspected car bomb attack outside Moscow on Saturday evening, Russian state investigators said on Sunday.

They said Darya Dugina, daughter of prominent ideologue Alexander Dugin, was killed after a suspected explosive device detonated on the Toyota Land Cruiser she was travelling in, and they were considering “all versions” when it came to working out who was responsible. read more

The nightly curfew in Ukraine’s second-largest city, Kharkiv, regularly hit by Russian shelling, will be extended for the entire day on Wednesday, regional Governor Oleh Synehub told residents on the Telegram messaging app.

As the war that has killed thousands and forced millions to flee heads for its half-year mark, Ukrainian military and local officials reported more Russian strikes overnight on targets in the east and south of the country.

Ukraine’s general staff said on Facebook early on Sunday that over the past 24 hours Russian forces had conducted several attempted assaults in Donbas. The eastern border region controlled in part by pro-Moscow separatists has been a prime target of Russia’s campaign in the past months.

In the south, Russian forces conducted a successful assault on a village of Blahodatne at the border between Kherson and Mykolaiv regions. The city of Mykolaiv was hit with multiple S-300 missiles early on Sunday, regional governor Vitaliy Kim said on Telegram.

The area on the Black Sea coast has seen some of the fiercest fighting of the past weeks.

To the northeast, the city of Nikopol, which lies across the Dnipro river from Zaporizhzhia, Europe’s biggest nuclear plant, was shelled on five different occasions overnight, regional governor Valentyn Reznichenko wrote on Telegram. He said 25 artillery shells hit the city, causing a fire at an industrial premises and cutting power to 3,000 residents.

NUCLEAR FEARS

The fighting near the Russian-controlled plant and Saturday’s missile strike at the southern Ukrainian town of Voznesensk, not far from the country’s second-largest nuclear plant, revived fears of a nuclear accident.

The attack on Voznesensk was “another act of Russian nuclear terrorism”, state-run Energoatom, which manages Ukraine’s four nuclear energy generators, said in a statement.

Russia did not immediately respond to the accusation. Reuters could not verify the situation in Voznesensk. There were no reports of damage to the power plant.

As Moscow and Ukraine continue to trade accusations of shelling around the Zaporizhzhia complex, the United Nations has called for a demilitarized zone around the plant and talks continued about a visit of its nuclear agency to the area.

Zelenskiy in his speech also referred obliquely to a recent series of explosions in Crimea, the Black Sea peninsula Russia annexed from Ukraine in 2014.

Ukraine has not claimed responsibility for the attacks, but analysts have said at least some have been made possible by new equipment used by its forces.

“You can literally feel Crimea in the air this year, that the occupation there is only temporary and that Ukraine is coming back,” Zelenskiy said.

In the latest incident, Crimea’s Russian-appointed governor, who is not recognised by the West, said a drone attack on the headquarters of Russia’s Black Sea fleet was thwarted on Saturday morning.

“It was downed right over the fleet headquarters. It fell on the roof and burned up. The attack failed,” Mikhail Razvozhayev said on Telegram.

Razvozhayev said the region’s anti-aircraft system had again been in operation and asked residents to stop filming and disseminating pictures of how it was working.

Ukrainian media reported explosions in nearby towns, among them the resorts of Yevpatoriya, Olenivka and Zaozyornoye.

Further west, five Kalibr missiles were fired from the Black Sea at the Odesa region overnight, according to the regional administration, citing the she southern military command. Two were shot down by Ukrainian air defences while three hit grain storage, but there were no casualties.

Odesa and other ports in the region have been at the centre of an U.N.-brokered deal to allow Ukrainian grain exports, blocked by the war, to reach world markets again. On Sunday, Turkey’s defence ministry reported four more food-laden ships left Ukrainian ports, bringing the total to 31.

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Reporting by Ron Popeski and Natalia Zinets; Writing by Clarence Fernandez and Tomasz Janowski; Editing by William Mallard and Nick Macfie

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U.S. spares Western states from Colorado River water cuts – for now

Aug 16 (Reuters) – The U.S. government spared seven Western states from mandatory Colorado River water cutbacks for now but warned on Tuesday that drastic conservation was needed to protect dwindling reservoirs from overuse and severe drought exacerbated by climate change.

The U.S. Bureau of Reclamation in June had given the states 60 days, until mid-August, to negotiate their own reductions or possibly face mandatory cutbacks enforced by the federal government. Federal officials asked for a reduced usage of 2 million to 4 million acre-feet of water per year, an unprecedented reduction of 15% to 30% in the coming year.

But bureau and Department of Interior officials told a news conference they would give the states more time to reach a deal affecting the water supply of 40 million people.

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They instead fell back on previously negotiated cuts that for the second year in a row will impose reductions on Nevada, Arizona and the country of Mexico, which also receives a Colorado River allotment.

Deputy Interior Secretary Tommy Beaudreau said federal officials would continue working with the seven Colorado River states on reaching a deal: Arizona, California, Colorado, New Mexico, Nevada, Utah and Wyoming.

“That said, we stand firm in the need to protect the system,” Beaudreau said, adding he was encouraged by the talks so far and by new federal money for water management.

Even so, federal officials said more cuts were needed, both under terms already negotiated in the 100-year-old Colorado River compact and the 21st century reality of human-influenced climate change resulting in hotter temperatures and drier soils.

A 24-month forecast released on Tuesday showed falling levels of the two largest reservoirs on the river, Lake Mead and Lake Powell, will trigger the previously negotiated cuts.

An aerial view of Lake Powell is seen, where water levels have declined dramatically to lows not seen since it was filled in the 1960s as growing demand for water and climate change shrink the Colorado River and create challenges for business owners and recreation in Page, Arizona, U.S., April 20, 2022. REUTERS/Caitlin Ochs/Files

Arizona, Nevada and Mexico will have supplies reduced for a second straight year: 21% for Arizona, 8% for Nevada and 7% for Mexico.

They are the first to be subject to cutbacks under the Colorado River compact. Last year, they got hit with 18%, 7% and 5% reductions, respectively, for the first time ever.

Negotiations over further reductions is creating tension among the states, especially as California, the largest user, has so far avoided cuts triggered by low reservoir levels.

Lake Mead and Lake Powell are barely above one-quarter of their capacity. If they fall much lower, they will be unable to generate hydroelectric power for millions in the West.

“It is unacceptable for Arizona to continue to carry a disproportionate burden of reductions for the benefit of others who have not contributed,” Ted Cooke, general manager of the Central Arizona Project, said in a statement.

John Entsminger, general manager of the Southern Nevada Water Authority, said he had hoped for more urgency from the bureau on Tuesday.

“It is possible for us to make the larger necessary cuts, but I think it is going to take everyone at the table realizing that everyone needs to suffer a commensurate level of pain to get there,” Entsminger said.

The 23-year megadrought, the worst on record in at least 1,200 years, is testing the strength of the compact, which a century ago assumed the river could provide 20 million acre-feet of water each year. The river’s actual flow the past two decades has averaged 12.5 million acre-feet, leaving state water managers with more rights on paper than water that exists in the river.

“As we have emphasized since taking office, the circumstances we face will require swift action and increased water conservation in every state, from every sector,” said Tanya Trujillo, the Interior Department’s assistant secretary for water and science.

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Reporting by Daniel Trotta and Caitlin Ochs; Editing by Donna Bryson and Josie Kao

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Elon Musk says he was joking about buying Manchester United

Aug 17 (Reuters) – Elon Musk, the world’s richest person, said early on Wednesday that he was joking when he tweeted hours previously that he was going to buy currently struggling English football club Manchester United Plc (MANU.N).

“No, this is a long-running joke on Twitter. I’m not buying any sports teams,” Musk posted when asked by a user if he was serious about buying the club. “Although, if it were any team, it would be Man U,” he added, “they were my fav (sic) team as a kid.”

Musk originally tweeted: “I’m buying Manchester United ur (sic) welcome,” without offering any details. Some Manchester United fans, disgruntled by their club’s declining fortunes of late, had previously urged Musk on Twitter to consider buying the club.

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The tweet turnaround comes as Musk seeks to exit a $44 billion agreement to buy Twitter (TWTR.N) only four months after announcing on the platform he would buy the social media company, which has taken him to court.

Musk has a history of being unconventional and posting irreverent tweets, making it difficult sometimes to tell when he is joking.

“Next I’m buying Coca-Cola to put the cocaine back in,” he tweeted on April 27, two days after Twitter’s board accepted his unsolicited offer to buy the company.

Referring back to that post, on Wednesday he tweeted: “And I’m not buying Coca-Cola to put the cocaine back in, despite the extreme popularity of such a move.”

Musk’s tweets about potential acquisitions have landed him in hot water with U.S. regulators in the past.

In 2018, he tweeted that there was “funding secured” for a $72 billion deal to take Tesla private, but did not move ahead with an offer. Musk and Tesla each paid $20 million civil fines – and Musk stepped down as Tesla’s chairman – to resolve U.S. Securities and Exchange Commission (SEC) claims that Musk defrauded investors.

The SEC did not immediately respond to a request for comment on Musk’s tweet that he was buying the club outside usual business hours.

Musk’s ambitions range from colonising Mars to creating a new sustainable energy economy, and in the process he has built the most valuable car company in the world, electric vehicle maker Tesla, rocket company SpaceX, and a slew of smaller firms. One is a tunnel maker called the Boring Company.

WIDESPREAD OPPOSITION

Manchester United is one of the most famous names in world football but is currently in crisis on the field amid angry calls from fans for the club’s current owners, the American Glazer family, to pull out.

Clamour from fans and pundits for a change of ownership at the three-time winners of the European Cup, the most prestigious club competition in the global game, is intensifying amid a lengthening run without winning major titles.

British newspaper The Daily Mirror reported last year that the Glazers, who have faced widespread fan opposition to their stewardship since acquiring the club in 2005 for 790 million pounds ($957 million), were prepared to sell but only if they were offered in excess of 4 billion pounds.

In its annual rankings this year, Forbes rated Manchester United, with its huge global fanbase, the third most valuable football club in the world, worth $4.6 billion, behind only Spanish giants Real Madrid and Barcelona.

But shares in the New York-listed football club have slid a quarter in the past 12 months, valuing it at just over $2 billion. The stock has rebounded in the past month, gaining 16% to close at $12.78 on Tuesday.

The northern England-based team has more than 32 million followers on its main Twitter account and Musk’s first tweet about the club had garnered more than 430,000 ‘likes’ on the platform within five hours.

Musk, who is worth $270 billion, according to Forbes, could certainly afford to buy the club.

Last week, filings revealed that Musk had sold $6.9 billion worth of Tesla shares, which he said could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.

In total, Musk has sold about $32 billion worth of Tesla stock in less than a year partly to pay tax obligations and finance a Twitter deal.

Musk and his lawyer did not immediately respond to Reuters’ request for comment on his original Twitter post before his message that he had been joking. The Florida-based Glazer family did not immediately respond to requests for comment.

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Reporting by Juby Babu in Bengaluru and Hyunjoo Jin in San Francisco; Writing by Peter Henderson, Michael Perry and Sayantani Ghosh; Editing by Aditya Soni, Neil Fullick and Kenneth Maxwell

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Germany and Poland search for cause of mass fish die-off in river Oder

  • Tonnes of dead fish collected in river on Polish-German border
  • Authorities are working to establish cause
  • Polish authorities criticised for slow response
  • Polish PM says Oder “may take years” to return to normal state

BERLIN/WARSAW, Aug 12 (Reuters) – Polish and German authorities are working “flat-out” to establish the cause behind a mass fish die-off in the river Oder, German Environment Minister Steffi Lemke said on Friday, warning of an environmental catastrophe.

Tonnes of dead fish have been found since late July in the river Oder, which runs through Germany and Poland. Both sides have said they believe a toxic substance is to blame but have yet to identify it.

“An environmental catastrophe is in the offing,” Lemke told the RND newspaper group. “All sides are working flat out to find the reasons for this mass die-out and minimise potential further damage.”

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Polish Prime Minister Mateusz Morawiecki said the waterway would take years to return to normal.

“The scale of this pollution is very big. So big that the Oder may take years to return to a fairly normal state,” Morawiecki said in a regular podcast on Friday.

“It is likely that enormous amounts of chemical waste have been dumped into the river,” he said, adding those responsible would be held accountable.

A spokesperson for the German environment minister told a news conference on Friday that they were following the situation closely, and that it was not yet clear what had got into the water.

“We have an incomplete picture,” the spokesperson said. “We need clarity on what materials are in the water.”

“GIGANTIC” POLLUTION

Green activists and opposition politicians have criticised the Polish government for not responding quickly enough to the danger and failing to alert Poles to avoid bathing and angling in the river that has been contaminated since late July.

Germany has also grumbled over Poland’s response: Brandenburg environment minister Axel Vogel had earlier said “chains of communication between the Polish and German sides did not work in this case”.

The head of Poland’s national water management authority said the situation was serious and that by Thursday evening Poland had collected over 11 tonnes of dead fish.

“(It) is being investigated by the prosecutor’s office, the police and local environmental protection inspectorates,” Przemyslaw Daca, the head of Polish Waters, was quoted as saying by Polish Radio 24.

“The problem is enormous, the wave of pollution runs from Wroclaw to Szczecin. Those are hundreds of kilometres of river, the pollution is gigantic.”

An analysis of river water taken this week showed evidence of “synthetic chemical substances, very probably also with toxic effects for vertebrates,” the German state of Brandenburg’s environment ministry said on Thursday, adding that it remained unclear how the substance entered the water.

According to local German broadcaster rbb, the state laboratory found high levels of mercury in the water samples.

However, Wladyslaw Dajczak, the head of Poland’s Lubusz province, quoted by PAP news agency said that tests run on Aug. 10 and 11 showed mercury was found only in “trace amounts”, well within allowed levels.

He said a barrier would be set up on the Oder near the city of Kostrzyn to collect dead fish flowing down the river, with 150 Territorial Defence Forces soldiers delegated to help with the clean-up.

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Reporting by Anna Wlodarczak-Semczuk, Marek Strzelecki and Pawel Florkiewicz; Additional reporting by Thomas Escritt and Karol Badohal, Writing by Rachel More; Editing by Hugh Lawson, Mike Harrison, Toby Chopra and Raissa Kasolowsky

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Wildfires rage in France, thousands evacuated from homes

HOSTENS, France, Aug 10 (Reuters) – Wildfires tore through the Gironde region of southwestern France on Wednesday, destroying homes and forcing the evacuation of 10,000 residents, some of whom had clambered onto rooftops as the flames got closer.

Black-and-orange skies, darkened by the smoke billowing from forests and lit up by the flames, were seen across the area as the fires continued to burn out of control despite the efforts of firefighters backed by water-bombing aircraft.

Fires, which have razed about 6,200 hectares (15,320), have now crossed in the neighbouring Landes region.

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France, like the rest of Europe, has been struggling this summer with successive heatwaves and its worst drought on record. Dozens of wildfires are ablaze across the country, including at least eight major ones.

“Prepare your papers, the animals you can take with you, some belongings,” the Gironde municipality of Belin-Beliet said on Facebook before evacuating parts of the town.

In the nearby village of Hostens, police had earlier been door to door telling residents to leave as the fire advanced. Camille Delay fled with her partner and her son, grabbing their two cats, chickens and house insurance papers.

“Everyone in the village climbed onto their rooftops to see what was happening – within ten minutes a little twist of smoke became enormous,” the 30-year-old told Reuters by telephone.

Firefighters said more evacuations were likely. Even so, some Hostens residents were reluctant to abandon their homes.

“It’s complicated to go with the dogs and we cannot leave them here,” said Allisson Horan, 18, who stayed behind with her father.

“I’m getting worried because the fire is in a plot of land behind ours and the wind is starting to change direction.”

Numerous small roads and a highway were closed.

HEATWAVES

More than 57,200 hectares have gone up in flames so far in France this year, nearly six times the full-year average for 2006-2021, data from the European Forest Fire Information System shows.

“The fire is creating its own wind,” senior local official Martin Guespereau told reporters, adding that efforts to fight it were made more difficult by how unpredictable it was.

Sweden and Italy are among countries preparing to send help to France, Interior Minister Gerald Darmanin said.

He repeated calls for everyone to be responsible – nine out of 10 fires are either voluntarily or involuntarily caused by people, he said.

The Gironde wildfire is one of many that have broken out across Europe this summer, triggered by heatwaves that have baked the continent and brought record temperatures.

In Portugal, nearly 1,200 firefighters backed by eight aircraft have battled a blaze in the mountainous Covilha area some 280 km (174 miles) northeast of Lisbon that has burned more than 3,000 hectares of forest since Saturday.

Spain and Greece have also had to tackle multiple fires over the past few weeks.

The Gironde was hit by major wildfires in July which destroyed more than 20,000 hectares of forest and temporarily forced almost 40,000 people from their homes.

Authorities believe the latest inferno was a result of the previous fires still smouldering in the area’s peaty soil.

Fires were also raging in the southern departments of Lozere and Aveyron. In the Maine et Loire department in western France, more than 1,200 hectares have been scorched by another fire.

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Reporting by Stephane Mahe in Hostens and Layli Foroudi in Paris; Additional reporting by Benoit Van Overstraeten; Writing by Richard Lough, Ingrid Melander; Editing by Jane Merriman, Alexandra Hudson and Mark Heinrich

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Indexes drop after Walmart profit warning; Nasdaq down 2%

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid

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  • Walmart cuts profit forecast; news hits retailers
  • McDonald’s up as sales, profit top estimates
  • Coca-Cola up on forecast raise
  • Indexes down: Dow 0.8%, S&P 500 1.3%, Nasdaq 2%

NEW YORK, July 26 (Reuters) – U.S. stocks were sharply lower on Tuesday afternoon, with Nasdaq down more than 2%, as a profit warning by Walmart dragged down retail shares and fueled fears about consumer spending.

Walmart (WMT.N) shares fell 8% after the retailer cut its full-year profit forecast late on Monday. Walmart blamed surging prices for food and fuel, and said it needed to cut prices to pare inventories. read more

Shares of Target Corp (TGT.N) declined 3.8% and Amazon.com Inc (AMZN.O) dropped 5.1%. read more

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Also, Amazon said it would raise fees for delivery and streaming service Prime in Europe by up to 43% a year. read more

Amazon was among the biggest drags on the Nasdaq and S&P 500, while consumer discretionary (.SPLRCD) fell more than 3% and led declines among S&P 500 sectors.

“The majority of companies that reported today beat earnings, and that’s been the case. But of course there have been some warnings, and that’s what the market is focusing on,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

“Walmart basically pulled the plug, and most retailers are lower across the board.”

Meanwhile, Coca-Cola Co (KO.N) gained 1.9% after the company raised its full-year revenue forecast. McDonald’s Corp (MCD.N) rose 3% after beating quarterly expectations. read more

A busy week for earnings includes reports from Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O) after the bell. Microsoft was down 3.4% and Alphabet was down 2.9%.

The Dow Jones Industrial Average (.DJI) fell 239.66 points, or 0.75%, to 31,750.38, the S&P 500 (.SPX) lost 52.28 points, or 1.32%, to 3,914.56 and the Nasdaq Composite (.IXIC) dropped 239.38 points, or 2.03%, to 11,543.29.

The Federal Reserve started a two-day meeting and on Wednesday, it is expected to announce a 0.75 percentage point interest rate hike to fight inflation. read more Investors have worried that aggressive interest rate hikes by the Fed could tip the economy into recession.

Earnings from S&P 500 companies are expected to have risen 6.2% for the second quarter from the year-ago period, according to Refinitiv data.

Among the week’s heavy slate of economic news, data Tuesday showed U.S. consumer confidence dropped to nearly a 1-1/2-year low in July, pointing to slower economic growth at the start of the third quarter. read more

Advance second-quarter GDP data on Thursday is likely to be negative after the U.S. economy contracted in the first three months of the year.

Declining issues outnumbered advancing ones on the NYSE by a 1.82-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favored decliners.

The S&P 500 posted 1 new 52-week highs and 30 new lows; the Nasdaq Composite recorded 32 new highs and 123 new lows.

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Additional reporting by Shreyashi Sanyal and Aniruddha Ghosh in Bengaluru; Editing by Arun Koyyur, Anil D’Silva and David Gregorio

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American tourists splurge in Paris boutiques as euro slides

PARIS, July 15 (Reuters) – American tourist Shawna Wilson says she has splashed out on four dresses at the high-end LVMH-owned department store La Samaritaine in Paris, tempted by the prices as the euro reached parity with the U.S. dollar.

The euro tumbled below $1 on Wednesday for the first time in two decades on fears that rising energy prices triggered by the Ukraine conflict could tip the European Union into a prolonged economic crisis. read more

“It’s like it’s on sale here,” said Wilson, 49, from Colorado, whose purchases included two dresses for her daughter. “Because the euro and the dollar are about the same, it definitely encourages us to spend.”

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The weak euro is big draw for tourists, particularly Americans – who are flagged as a key growth driver for the European luxury goods sector in the second quarter, according to analysts from Barclays.

The strong dollar versus the euro contributed to a four-fold rise in tourism spending in Europe in June compared with last year, with an acceleration in spending from Americans, analysts at UBS, citing data from VAT refund provider Planet, said.

The luxury sector has rebounded quickly from the pandemic as people rushed to spend money saved during lockdowns — buying themselves treats as socialising resumed.

But sales in China, the world’s largest luxury goods market, have plunged this year as a new wave of strict COVID-19 lockdowns shuttered shops, crimped demand and also meant fewer high-spending Chinese tourists in Europe. read more

So as Americans fill up transatlantic flights, their eagerness to cash in on the weak euro is helping to replace business lost as a result of the lack of Chinese visitors, who were the main source of luxury sales growth in Europe pre-pandemic.

Luxury goods companies Richemont (CFR.S) and Burberry on Friday reported higher sales in Europe, which helped to offset a drop of more than 30% in China. read more

France has benefited most from the tourists’ splurge.

Sales to tourists in France in June climbed to just 11.3% below 2019 levels, a positive sign for French luxury labels that have a big exposure to their home market, UBS analysts said.

American tourists were thronging Paris’s Avenue Montaigne this week, browsing in the luxury boutiques, which include designer names such as Louis Vuitton, Chanel and Gucci.

Cheryl Penn, 70, a realtor from Delray Beach, Florida, had already bought herself a skirt and stocked up on baby clothes for her granddaughter.

“We just got on the Avenue, so we just started our shopping spree,” said Penn.

“I like that the euro and the dollar are equal so I know exactly what I’m spending,” she said.

Jennifer Groner, a TikTok influencer, went on a shopping spree in Paris in April when the euro was under pressure versus the dollar.

“I’ve never seen anything like this in terms of the price savings,” she told Reuters, estimating that she snapped up a Birkin bag from Hermes in Paris for $4,000 less than it would have cost her in the United States, paying little over $9,000, thanks also to a VAT refund.

“You’re able to travel to Europe, take in the culture but at the same time buy a bag,” said Groner, who also bought handbags and accessories from Prada, Dior, Louis Vuitton and Chanel, for overall savings of $8,000 compared with U.S. prices, based on her calculations.

Monika Arora, founder of pursebop.com, a news and information website for luxury brands, said she believes the brands will eventually “harmonise” prices.

“They’ve done that many times before,” she said.

Chanel told Reuters in May it could implement further price increases in July to account for currency fluctuations – particularly the weakness of the euro – and inflation. read more

The pull of Paris remains strong for American shoppers even though New York’s high end shopping streets teem with luxury European designer brands.

“So many of my friends more than ever are taking little weekend trips to Paris and other places and they are shopping while they are there — because that’s what you do while you’re in Paris,” said Jennifer Tumpowski, outside Gucci’s flagship store on New York’s Fifth Avenue.

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Reporting by Lea Guedj, Doyinsola Oladipo, Gigi Zamora and Mimosa Spencer. Editing by Jane Merriman

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Ships get older and slower as emissions rules bite

  • Average age of vessels up more than two years since 2017
  • New emissions rules may force older ships to go slower
  • One-fifth of ships fitted with energy saving devices
  • New vessels and alternative fuels the long-term solution

LONDON, July 11 (Reuters) – If shipping is the beating heart of global trade, its pulse is about to get slower.

Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping firms are sticking with ageing fleets, but older vessels may soon have to start sailing slower to comply with new environmental rules.

From next year, the International Maritime Organization (IMO) requires all ships to calculate their annual carbon intensity based on a vessel’s emissions for the cargo it carries – and show that it is progressively coming down.

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While older ships can be retrofitted with devices to lower emissions, analysts say the quickest fix is just to go slower, with a 10% drop in cruising speeds slashing fuel usage by almost 30%, according to marine sector lender Danish Ship Finance.

“They’re basically being told to either improve the ship or slow down,” said Jan Dieleman, president of Cargill Ocean Transportation, the freight division of commodities trading house Cargill, which leases more than 600 vessels to ferry mainly food and energy products around the world.

Supply chains are already strained due to a surge in demand as economies rebound from lockdowns, pandemic disruptions at ports and a lack of new ships. If older vessels move into the slow lane as well, shipping capacity could take another hit at a time when record freight rates are driving up inflation. read more

At the moment, only about 5% of the world’s fleet can run on less-polluting alternatives to fuel oil, even though more than 40% of new ship orders will have that option, according to data from shipping analytics firm Clarksons Research.

But the new orders are not coming in fast enough to halt the trend of an ageing fleet across all three main types of cargo vessels: tankers, container ships and bulk carriers, the data provided to Reuters by Clarksons Research shows.

The average age of bulk carriers, which carry loose cargo such as grain and coal, had jumped to 11.4 years by June 2022 from 8.7 five years ago. Container ships now average 14.1 years, up from 11.6, while for tankers the average age was 12 years, up from 10.3 in 2017, according to the data.

“Some ship owners have preferred to buy second-hand vessels because of the uncertainties around future fuels,” said Stephen Gordon, managing director at Clarksons Research.

TALL ORDER

Orders for new container ships surged to a record high in 2021 and are still coming in at healthy clip this year, but as the appetite for new tankers and bulk carriers is much lower, the current order book across all three types of vessel only stands at about 10% of the fleet, down from over 50% in 2008.

Shipping companies are responsible for about 2.5% of the world’s carbon emissions and they are coming under increasing pressure to reduce both air and marine pollution.

The industry’s emissions rose last year, underlining the scale of the challenge in meeting the IMO’s target of halving emissions by 2050 from 2008 levels. The organization is now facing calls to go further and commit to net zero by 2050.

Some companies are testing and ordering vessels using alternative fuels such as methanol. Others are developing ships that can be retrofitted for fuels beyond oil, such as hydrogen or ammonia. There’s even a return to wind with vast, high-tech sails being tested by companies such as Cargill and Berge Bulk. read more

But many of the potential low-carbon technologies are in the early stages of development with limited commercial application, meaning the majority of new orders are still for vessels powered by fuel oil and other fossil fuels.

Of the vessels on order, more than a third, or 741, are set to use liquefied natural gas (LNG), 24 can be driven by methanol and six by hydrogen. Another 180 have some form of hybrid propulsion using batteries, Clarksons data shows.

Many shipping firms are hedging their bets mainly because prolonging the life span of vessels is cheaper and lower risk than new builds. They also gain breathing space while waiting for the winning new technologies to become mainstream.

“We have a clash between an industry that is very long-term investment oriented and a very fast pace of change,” said John Hatley, general manager of market innovation in North America at Finnish marine technology company Wartsila (WRT1V.HE).

Cargill says that as of now it doesn’t expect to have many new-build ships in its fleet, instead fitting energy saving devices to older vessels and prolonging their use, while there’s still uncertainty about future technology.

They’re not alone, with more than a fifth of global shipping capacity fitted with such devices, according to Clarksons.

Devices include Flettner rotors, tail spinning cylinders that act like a sail and let ships throttle back when it’s windy, or air lubrication systems that save fuel by covering the hull with small bubbles to reduce friction with seawater.

While energy saving devices go a long way to tackling emissions, ultimately, newer vessels are a better bet, said Peter Sand, analyst at shipping and air cargo data firm Xeneta.

“The next generation of fuel oil ships will be much more carbon efficient, they will be able to transport the same amount of cargo emitting only half of the emissions that they did over a decade ago,” he said.

THE POSEIDON PRINCIPLES

Shipping firms are set to come under growing pressure to comply with targets set by the IMO, which will rate the energy efficiency of ships on a scale of A to E, as the ratings will have a knock-on effect when it comes to finance and insurance.

In 2019, a group of banks agreed to consider efforts to cut carbon emissions when lending to shipping companies and established a global framework known as the Poseidon Principles.

The Poseidon Principles website shows that 28 banks, which include BNP Paribas (BNPP.PA), Citi , Danske Bank (DANSKE.CO), Societe Generale (SOGN.PA) and Standard Chartered (STAN.L), have committed to being consistent with IMO policies when assessing shipping portfolios on environmental grounds.

“Lending decisions on second-hand ships are going to become an issue on older tonnage,” said Michael Parker, chairman of Citigroup’s global shipping, logistics and offshore business, adding that environmental factors would be taken into account when lenders decided whether to refinance vessels.

“Second-hand ships will continue to get financing, provided that the owner is doing the right things about keeping that vessel as environmentally efficient as possible,” he said.

One early adopter of new technology is shipping giant A.P. Moller-Maersk . It has ordered 12 vessels which can run on green methanol produced from sources such as biomass, as well as fuel oil as there is not yet enough low carbon fuel available.

The Danish company doesn’t intend to use LNG because it is still a fossil fuel and it would prefer to shift directly to a lower carbon alternative.

Wartsila, meanwhile, is launching an ammonia-fueled engine next year, which it says is generating a lot of interest from customers, as well as a hydrogen engine in 2025.

Ship owners are facing a lot of uncertainty over how to “future proof” their fleets and avoid regretting investment decisions now within a couple of years, said Wartsila’s Hatley.

“They would rather wait for maybe the whole life of the ship of 20 years, but that’s even more uncertain now because of the pace of change.”

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Reporting by Sarah McFarlane; Editing by Veronica Brown and David Clarke

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