2024-02-18 11:22

Feb 18 (Reuters) - Macquarie Asset Management and U.S.-based Federated Hermes (FHI.N) , opens new tab are exploring the potential sale of a combined 1.3 billion pound ($1.64 billion) stake in UK gas network operator Cadent, a source close to the matter told Reuters. The asset management division of Macquarie Group (MQG.AX) , opens new tab manages a more than 26% stake in Cadent and is in early stage talks to sell a 5% holding while Federated Hermes is looking to reduce its 13% stake to 8.4%, the source said. The proposed sale, first reported by the Financial Times, comes as Britain looks to phase out use of natural gas as part of efforts to achieve net zero carbon emissions by 2050. Federated Hermes and Cadent did not respond to a request for comment outside office hours. (This story has been refiled to say Macquarie manages, not owns, a more than 26% stake in Cadent in paragraph 2) ($1 = 0.7938 pounds) https://www.reuters.com/markets/deals/macquarie-plans-cut-stake-uks-cadent-ft-2024-02-18/

2024-02-17 14:24

https://www.reuters.com/world/middle-east/us-says-its-forces-strike-unmanned-surface-vessel-anti-ship-cruise-missile-near-2024-02-17/

2024-02-17 07:56

https://www.reuters.com/world/middle-east/yemens-houthis-say-they-targeted-oil-tanker-pollux-2024-02-17/

2024-02-17 05:04

https://www.reuters.com/markets/commodities/western-australia-offers-royalty-relief-struggling-nickel-producers-2024-02-17/

2024-02-16 23:42

Feb 16 (Reuters) - Reddit has signed a contract allowing an Artificial Intelligence (AI) company to train its models on the social media platform's content, Bloomberg News reported, citing people familiar with the matter. Reddit, which is eyeing an initial public offering (IPO) launch, has told prospective investors that it signed the deal, worth $60 million on an annualized basis, earlier this year, the report said. The details of the AI deal could change as talks over the Reddit IPO launch, which could come in March, continue. The content licensing deal comes at a time when interest in AI is at an all-time high. Reddit declined to comment. The agreement, signed with an "unnamed large AI company", could be a model for future contracts of a similar nature, Bloomberg reported. Reddit's IPO, which has been in the works for over three years now, would be the first IPO of a major social media company since Pinterest's (PINS.N) debut in 2019. The San Francisco-based company was valued at about $10 billion in a funding round in 2021. https://www.reuters.com/technology/reddit-signs-content-licensing-deal-with-ai-company-ahead-ipo-bloomberg-reports-2024-02-16/

2024-02-16 23:31

Feb 16 (Reuters) - JPMorgan Chase and Co (JPM.N) , opens new tab will pay civil penalties of about $350 million to regulators for reporting incomplete trading data to surveillance platforms, it said in a regulatory filing on Friday. In a response to government inquiries about its trading processes, the lender said certain trading and order data through its Corporate and Investment Bank unit was not fed into its trade surveillance platforms. "While the identified gaps represent a fraction of the overall activity across the Corporate and Investment Bank (CIB), the data gap on one venue, which largely consisted of sponsored client access activity, was significant," the company said in the filing. JPMorgan has, however, "not identified any employee misconduct, harm to clients or the market." The $350 million penalties are expected to resolve the matter with two U.S. regulators, the bank said, without specifying which agencies were involved. JPMorgan is in "advanced negotiations" with a third regulator which may not result in a resolution, it added. https://www.reuters.com/markets/us/jpmorgan-pay-about-350-mln-fine-trade-reporting-failures-2024-02-16/