Reuters exclusively reported that U.S. investment firm KKR was set to secure unconditional EU antitrust approval for its up to 22-billion-euro ($24 billion) acquisition of Telecom Italia’s (TIM) fixed-line network. The story was later confirmed by the European Commission. The deal is significant as it marks the first time that a former phone monopoly in a major European country is divesting its landline grid.
Business
KKR wins EU approval for Telecom Italia deal
Deals
24 May 2024, 2:27 pm 1 minute
Market Impact
The deal is significant as it marks the first time that a former phone monopoly in a major European country is divesting its landline grid.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Telecommunications
Regions: Europe
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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Business & FinanceDeals
24 July 2024, 7:44 am 1 minute
Reuters exclusively reported that the United States and Vietnam are discussing the sale of Lockheed Martin C-130 Hercules military transport planes to Hanoi, in a sign of closer security cooperation between the two former foes.
Market Impact
The discussions show the United States’ growing efforts to gain influence with Hanoi, nearly half a century after the end of the Vietnam War.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Aerospace & DefenceBusiness & Finance
Regions: Asia
Countries: Vietnam
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Automotive
17 May 2024, 10:01 am 1 minute
Reuters exclusively reported that Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, in a setback for the EU carmakers’ efforts to fend off Chinese rivals.
Market Impact
A potential partnership between Volkswagen and Renault would have brought together household names of Europe’s top two economies and formed a counterweight against Asian rivals muscling into the local market.
Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Transport & Logistics
Regions: Europe
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
Vishal JaiswalVishal Jaiswal has been flying drones since he was young.
Now 27, that childhood hobby has become his profession. A recent project involved mapping part of the Sundarbans, a vast area of mangrove forests where the waters of the Ganges, Brahmaputra and Meghna rivers spill into the Bay of Bengal.
Covering more than 4,000 sq miles (10,360 sq km) of coastal India and Bangladesh, it is the world’s biggest area of mangroves.
“It’s a very dense area with mix of everything, including forests with wild animals,” says Mr Jaiswal.
Along with two other team members he mapped 150 sq km in three days.
“A trained and skilled person is needed to fly a drone in thick mangroves area,” he says.
“It was a difficult task. We mapped the area from deep inside the forest, travelling there on boats and roads.”
It was one of many projects aimed at protecting the mangrove forest from the effects of climate change and human activities.
Globally, more than half of all mangrove ecosystems are at risk of collapse by 2050, according to a recent report from the International Union for Conservation of Nature (IUCN).
“Mangroves are threatened by deforestation, development, pollution, and dam construction, but the risk to these ecosystems is increasing due to sea-level rise and the increased frequency of severe storms associated with climate change,” the report said.
In India the picture is mixed.
The mangroves of South India, Sri Lanka and Maldives are “critically endangered,” according to the IUCN report.
Getty ImagesOther Indian mangroves are not on that “red list”.
The Sundarbans are one of those mangroves not considered endangered by the (IUCN).
However, Dr Sahadev Sharma, a consultant scientist to the USDA Forestry Service, says there are signs of both manmade and natural stress, which he identified during his field survey beginning of this year.
“We are seeing a loss in dense mangrove cover in Sundarbans. Additionally, patches on the western coast are extremely fragmented and eroded due to shrimp farming and development,” he says.
But it’s hard for scientists to know exactly what’s happening to the Sundarbans. There’s a lack of field research, partly because it’s a difficult place to work.
“It requires coordination with officers and ground staff, procuring field supplies in remote areas, and planning extensive logistics for field operations.
“The risk of saltwater crocodiles and Bengal tigers, tides and treacherous terrain make the field work even more difficult,” he says.
So, scientists are turning to tech, like Mr Jaiswal’s drones, to monitor the mangroves.
One key bit of information needed is the height of the mangroves in relation to the sea level.
The rivers flooding into the Sundarbans dump sediment, raising the ground level.
But if the sea level rises faster than that soil building process, then the mangroves will be threatened.
This process is monitored by installing rSETs (rod surface elevation tables) across mangrove forests.
Sahadev SharmaThe first part of the process is to drive steel rods into the mud, to provide a base for the measuring equipment.
Then Lidar scanners are attached to the top of the rods. These use lasers to scan the ground up to 2m away from the central rod, taking hundreds of thousands of extremely accurate measurements.
It’s a big improvement on the previous system, which involved attaching cumbersome fibreglass arms to the rods, which were extended to take height measurements.
That method would take hours to produce just 36 measurements and relied on the user placing the arms in the exact same positions as previous surveys.
“Because we are using a laser, there is minimal human error and the precision of this method is much greater than the traditional pin methods,” says Mr Sharma.
But it has one drawback – it’s more expensive than the old way.
Nevertheless, the project is making progress with the help of local partners.
Measuring sites are in place in the Andaman Islands, Sundarbans and Coringa and there are plans to install more in Bhitarkanika National Park, Orissa.
The research is still in its early days, they have a few data sets, but are waiting for the water level to recede before they can start measuring in the Sundarbans.
Getty ImagesMany who live in the coastal regions that support mangrove forests rely on them for survival.
In Andhra Pradesh, which has a long coastline in eastern India, fisherman Laxman Anna blamed the destruction of mangroves for poor catches.
“A few years back it had become a frustrating job. Going into the creek to catch fish and coming back empty handed.”
“Imagine a day when I made just 60 cents for my entire day in the creek, as there were no fishes. Barely enough to sustain my family of five.”
He blamed shrimp farms for upsetting the ecosystem.
But Mr Anna says communities in his area have realised the importance of preserving the mangroves.
“We are planting saplings, nurturing them back to life with help of an NGO and the forest department.”
And that effort is paying off.
“Things are changing I have a smile on my face when I go to fishing now. I am able to get a good catch and make around seven to eight dollars a day, which is a good catch for my survival.”
More Technology of Business
As an American-German family living on both sides of the Atlantic, I must sadly agree with Janan Ganesh’s assessment in his characteristically insightful article “Why Europe will not catch up with the US” (Opinion, September 19). He captures the core issues with precision. However, I find myself even more pessimistic about Germany’s ability to preserve the European “dolce vita” beyond Generation X.
The challenges facing Germany are multi-faceted. Entrepreneurs here continue to struggle with a lack of support and access to funding, which stifles innovation and economic growth. Despite the growing need for modernised industries and fresh ideas, the “old boys’ club” mentality persists, keeping power concentrated in the hands of the traditional elite. This resistance to change is not just limiting entrepreneurship but also the ability of Germany to adapt in a rapidly evolving global economy. Moreover, the country’s education system is underfunded, leaving younger generations with fewer opportunities to compete in a highly skilled, global workforce.
At the same time, the burden on the social welfare system is at an all-time high, with a worrying trend that many welfare recipients and their offspring may remain dependent on state support. This situation risks creating a growing divide between those who contribute to the system and those who rely on it, further hampering economic progress.
My 20-year-old, who sees these issues first-hand, recently commented that if things continue this way, she may reluctantly move back to the US — a decision she views as a last resort.
It’s a sentiment I hear echoed more often by young people in Germany, and it’s deeply concerning for the country’s future.
Alka Schumacher
Cologne, Germany
Deals
08 February 2023, 7:21 pm 1 minute
| Reuters reported that Britain placed another hurdle in the way of Microsoft’s $69-billion mega purchase of “Call of Duty” maker, Activision Blizzard, saying it could harm gamers by weakening the rivalry between Xbox and Sony’s PlayStation. |
Market Impact
The biggest-ever deal in gaming could result in higher prices, fewer choices, and less innovation for millions of players, as well as stifling competition in cloud gaming. Shares in Activision were down 3% in early trading in New York. Microsoft, which announced an AI-driven revamp of its search capabilities on Tuesday, was up 2.4%.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & FinanceTechnology
Regions: EuropeNorth America
Countries: EnglandUnited States
Win Types: Overall Coverage
Story Types: Spot News
Media Types: Text
Customer Impact: Major Global Story
Business & Finance
24 July 2024, 9:31 am 1 minute
Reuters exclusively reported that Lineage, the world’s largest operator of cold-storage warehouses, raised $4.45 billion in its U.S. initial public offering, setting it up for the biggest stock market debut globally this year. Lineage priced just under 57 million shares in New York at $78 apiece, the upper end of its indicated range of $70 to $82.
Market Impact
The $4.45 billion IPO values Lineage at more than $18 billion and is the biggest since chip designer Arm’s $4.87 billion offering last September.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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