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Yearly Archives :

2022

Ferrari to recall more than 2,000 cars in China over braking issues

Ferrari to recall more than 2,000 cars in China over braking issues 150 150 admin

SHANGHAI/MILAN (Reuters) -Luxury sports car maker Ferrari will recall 2,222 cars in China due to a potential fault in its braking systems, China’s market regulator said in a statement on Friday.

The recall covers the 458 Italia, 458 Speciale, 458 Speciale A, 458 Spider, 488 GTB and 488 Spider series models, the State Administration for Market Regulation said, and is for cars imported between March 2010 and March 2019.

The recall will begin on May 30.

A source close to the matter said that the recall is part of a wider action Ferrari is undertaking globally over the same issue for models produced over the period, which also saw the carmaker agreeing to a recall campaign in the United States in November last year.

In the car industry, recalls and their timings are normally decided by each individual national authority after issues emerge or are flagged by the constructor.

Ferrari said that, after investigating the matter together with its supplier Bosch, they had identified the cause of the defect in affected vehicles in a brake reservoir fluid cap that may not vent properly, thereby potentially creating a vacuum inside the brake fluid reservoir.

“The safety and wellbeing of our clients is our priority. We operate according to stringent safety and security guidelines to ensure the right systems and procedures are in place at all times” Ferrari said.

Based on data available on the company’s website, which date back until 2014 when it was still part of Fiat group, Ferrari has sold a total of around 5,400 cars in its ‘Greater China’ region, which includes Hong Kong and Taiwan, between 2014 and last year.

By 1145 GMT Milan-listed shares in Ferrari were down 3.1%, underperforming a 1.7% fall for Italy’s blue chip index.

(Reporting by Zhang Yan, Brenda Goh in Shanghai and Giulio Piovaccari in Milan; editing by John Stonestreet and Keith Weir)

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Japan says disputed islands ‘illegally occupied by Russia’

Japan says disputed islands ‘illegally occupied by Russia’ 150 150 admin

TOKYO (AP) — Japan describes four islands whose ownership it disputes with Moscow as “illegally occupied by Russia” in the latest version of a diplomatic report released Friday, using stronger language to describe the territorial flap than other recent versions and underscoring the chilled relations between the two sides amid the Russian invasion of Ukraine.

The description in the 2022 Diplomatic Bluebook, an annual report on Japan’s foreign policy issued by the Foreign Ministry, uses that phrasing for the first time in nearly two decades. Japan, which is struggling to improve ties with Moscow to regain control of the Kurils, which Tokyo calls the Northern Territories, had previously described the dispute in a softer tone.

“The Northern Territories are a group of islands Japan has sovereignty over and an integral part of Japan’s territory, but currently they are illegally occupied by Russia,” the ministry said in the report.

The dispute over the Russian-held islands, which the former Soviet Union seized from Japan at the end of World War II, has prevented the two countries from signing a peace treaty formally ending their war hostilities.

The report last used a similar expression in 2003 but had toned down its phrasing until last year, when it described the dispute as “the greatest concern between Japan and Russia” and noted that “Japan has sovereignty” over the islands.

In another territorial dispute, the ministry said the island that Japan calls Takeshima is “illegally occupied” by Seoul, which calls it Dokdo.

South Korea’s Foreign Ministry protested Japan’s “repeated inclusion of unjust sovereignty claims over Dokdo,” calling the island an integral part of South Korean territory. It said Tokyo’s repeated claims are in “no way conducive to efforts to establish a future-oriented relationship between the two sides. Japan-South Korea ties have been also badly strained by historical issues.

Japan has joined other Group of Seven countries in imposing a series of sanctions against Russia. Tokyo is taking a greater role in the international effort against Russia because of its concerns about the impact of the invasion in East Asia, where China’s military has grown increasingly assertive.

Japan has already faced reprisals from Russia, which recently announced the suspension of talks on a peace treaty with Tokyo that included negotiations over the disputed islands.

Japan also seeks to bolster its defense capability and budget as part of a key revision to Japan’s national security strategy expected later this year.

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AP writer Kim Tong-hyung in Seoul, South Korea contributed to this report.

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Billy Crystal back on Broadway as "Mr. Saturday Night"

Billy Crystal back on Broadway as "Mr. Saturday Night" 150 150 admin

Commercial station crew stuck in space awaiting better splashdown weather

Commercial station crew stuck in space awaiting better splashdown weather 150 150 admin

Trouble getting the Axiom-1 crew back to Earth triggers domino-like delays for upcoming missions.
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Macron vs Le Pen: Quotes from the presidential debate

Macron vs Le Pen: Quotes from the presidential debate 150 150 admin

PARIS (Reuters) – President Emmanuel Macron and far-right challenger Marine Le Pen squared off in a debate on Wednesday evening, four days ahead of the April 24 presidential runoff vote. [L2N2WI0UR]

Here are some key quotes from Macron and Le Pen as they launched their final bid to convince undecided French voters.

ISLAM AND FRENCH SECULARISM

Le Pen:

“I want to ban the veil in the public space. I think the veil is a uniform imposed by Islamists and I think that the majority of young women who wear it cannot do otherwise.”

Macron:

“You will create a civil war in the suburbs, Madame Le Pen.”

“How many police officers will have to run behind women to enforce the veil ban?”

SECURITY AND IMMIGRATION

Le Pen:

“Everywhere I go, including in the deepest countryside, I have people telling me ‘we can’t take it anymore’.”

“We need to solve the problem of massive and anarchic immigration.”

France needs a referendum on immigration “so that the French choose who comes, who stays and who leaves.”

Macron:

“You live solely off fear, Madame Le Pen, and resentment.”

“A referendum would change nothing, it depends on the cooperation of other countries.”

CLIMATE AND ENERGY POLICY

Macron:

“There is no way out of fossil fuels that relies solely on nuclear. Your strategy is not workable.”

“Even though we have energy needs today, you are not telling me how we will cope with moving beyond fossil fuels, how we will reduce our dependence on Russian gas.”

Le Pen”

“I am in no way a climate sceptic. But you, you are something of a climate hypocrite.”

“Free trade kills the planet.”

“You have completely changed your tune on nuclear power… We have wasted 10 years destabilising a nuclear industry that needed to be strengthened to make this carbon-free energy source once again the basis for our energy mix.”

PENSION REFORM:

Macron:

“I don’t want to increase our taxes, I don’t want to increase our debt, I even want to start paying it off over the next five years. So I want us to work more, a pillar of which would be to push back the legal retirement age by four months a year until we reach 65 in 2031.”

Le Pen:

“All those who had their first proper job before the age of 20 will be able to retire at 60.”

In response to Macron’s proposal: “You foresee that no one will be able to enjoy a full retirement.”

EUROPE

Macron:

“Five years ago, your programme was only applicable if France left the euro (currency). Today, you still want to get out of it but you don’t say so anymore.”

“I believe in the Franco-German couple.”

“We have made (COVID-19) vaccines that protect us thanks to our European agreements.”

Le Pen:

“France is a world power not just a European power.”

“I want the European Commission to respect sovereign nations, to respect the choice of the French people, including their choice of society.”

“So I want to change this European organisation. But I don’t want to leave it.”

RUSSIA

Le Pen on energy sanctions:

“The only sanctions I disagree with is the blocking of Russian oil and gas imports. Why do I disagree? Because in reality it will do no harm to Russia and will do enormous harm to our people.”

“We cannot commit hara-kiri in the hope of hurting Russia.”

Macron on Le Pen’s Russia ties:

“You are dependent on power, you are dependent on (Russian President Vladimir) Putin. You took a loan from a Russian bank.”

“You don’t speak to other leaders, you speak to your banker when you speak to Russia, that’s the problem.”

COST OF LIVING

Le Pen:

“I’ve seen the people suffer, I’ve seen them worry, worry about a downgrading in their quality of life, about a kind of precariousness that they feels is widespread.

“All you do is hand out cheques … my priority is to give French people their money back.”

Macron:

“I don’t want people listening to us to think their salaries will rise by 10%”

(Reporting by Tassilo Hummel and Layli Foroudi; Editing by Richard Lough)

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Kurt Cobain's "Smells Like Teen Spirit" guitar to be auctioned

Kurt Cobain's "Smells Like Teen Spirit" guitar to be auctioned 150 150 admin

Congress must act if it wants to extend Title 42 immigration measure -White House

Congress must act if it wants to extend Title 42 immigration measure -White House 150 150 admin

WASHINGTON (Reuters) – Congress will have to act if it wants to extend a sweeping, pandemic-related expulsion policy known as Title 42 that has effectively closed down the U.S. asylum system, the White House said on Wednesday.

“Right now we are planning and preparing for the end of Title 42 enforcement on May 23rd,” White House spokesperson Jen Psaki told reporters.

She noted that President Joe Biden wanted to reform the immigration system and that some lawmakers favored a delay of Title 42 implementation while others oppose it. “This would all require congressional action. We’re happy to have that conversation with them.”

(Reporting by Trevor Hunnicutt and Jeff Mason; Editing by Leslie Adler)

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Haven't filed taxes? Here's the penalty for late returns

Haven't filed taxes? Here's the penalty for late returns 150 150 admin

Millions of Americans file returns after the Tax Day deadline. If you’re in that group, here’s what determines how much you’ll owe.
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Proxy advisory firms urge Ventas investors to reject activist’s bid for board seat

Proxy advisory firms urge Ventas investors to reject activist’s bid for board seat 150 150 admin

BOSTON (Reuters) – Proxy advisory firms Glass Lewis and Institutional Shareholders Services urged investors in healthcare real estate trust Ventas Inc to back management’s director candidates and reject activist investment firm Land & Buildings’ effort to win one board seat.

Land & Buildings’ founder Jonathan Litt nominated himself as a director candidate, arguing that poor investor communications, capital allocation issues and a lack of board oversight led to significant underperformance at the company.

The investment firm owns a 0.2% stake in Ventas which is valued at $24 billion.

The proxy advisory firms, whose recommendations often guide investor voting to settle boardroom battles, backed all 11 of Ventas’s candidates saying they do not believe Land & Buildings made a compelling case to join the board.

Glass Lewis on Wednesday wrote that Land & Buildings’ concerns about Ventas’s stock performance are valid but that its concerns about capital allocation and governance “fall flat.”

The company has shifted its portfolio toward the most attractive areas of healthcare real estate and has refreshed its board with the “experience, skills and perspective” that it needs, the Glass Lewis report said.

A representative for Land & Buildings declined to comment.

Investors will vote on the matter on April 27 at Ventas’s annual meeting.

(Reporting by Svea Herbst-Bayliss; Editing by Stephen Coates)

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Johnson heads to India to meet Modi, escape ‘partygate’ flak

Johnson heads to India to meet Modi, escape ‘partygate’ flak 150 150 admin

LONDON (AP) — British Prime Minister Boris Johnson is trying to set aside his political troubles and focus on economic ties and the war in Ukraine during a long-delayed official trip to India.

Johnson is due to visit the western state of Gujarat and meet Prime Minister Narendra Modi in New Delhi on the two-day trip that starts Thursday.

He hopes to strike new economic deals between Britain and its huge former colony, and to coax India away from Russia in response to the invasion of Ukraine.

Modi has called the situation in Ukraine “very worrying” and has appealed to both sides for peace. But India has stood back from international efforts to criticize President Vladimir Putin, abstaining when the U.N. General Assembly voted this month to suspend Russia from the Human Rights Council.

Modi has so far responded coolly to pressure from U.S. President Joe Biden and others to curb imports of Russian oil and gas.

India receives little of its oil from Russia, but has ramped up its purchases and bought 3 million barrels of crude last month, just as other democracies tried to isolate Putin with economic sanctions. India is also a major customer for Russian weapons, and recently bought advanced Russian air defense systems.

Johnson’s spokesman, Max Blain, said Britain would “work with other countries to provide alternative options for defense procurement and energy for India to diversify its supply chains away from Russia.”

But he stressed that the U.K. wouldn’t “lecture other democratically elected governments on what course of action was best for them.”

Johnson’s office said the two countries will announce new deals on defense, green energy, jobs and science partnerships during the prime minister’s trip.

Britain is seeking to tighten ties with Asian nations as part of an “Indo-Pacific tilt” to its foreign policy following its departure from the European Union in 2020. Johnson hopes to nudge forward negotiations on a post-Brexit trade deal between Britain and India, one of the world’s fastest-growing economies.

Talks started in January, but the prime minister’s spokesman played down chances of a quick deal, saying “we don’t want to sacrifice quality for speed.”

The trip may also provide the British prime minister with a brief respite from a scandal over lockdown-breaching government parties during the coronavirus pandemic.

Johnson was fined by police last week for attending his own surprise birthday party in 10 Downing St. in June 2020, when people in Britain were barred from meeting with friends and family outside the home. It is one of a dozen gatherings in government buildings being investigating by police for possible lockdown breaches in a scandal that has become known as “partygate.”

On Tuesday Johnson offered lawmakers in Parliament what he said was a ”wholehearted” apology, but insisted he didn’t knowingly break rules, and brushed off calls to resign.

The trip means Johnson will miss an opposition-triggered vote in the House of Commons Thursday on whether he should be investigated for allegedly misleading Parliament when he denied violating any pandemic restrictions.

Johnson originally planned to visit India in January 2021, but the trip was canceled because of surging coronavirus cases in Britain. A second date in April 2022 was called off as a new coronavirus variant hit India.

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