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2023 - 2 - 22

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KAP building on its growth prospects as it trades through a tough ... (Independent Online)

KAP Industrial Holdings had several growth projects that would come to fruition over the next two years, with its energy strategy, which gave it promising ...

“We also experienced softer customer demand and lower sales volumes in our bedding business, Restonic,” said Chaplin. The impact was being quantified for insurance purposes. Lower sales volumes had reduced Safripol operating profit by R173 million due to subdued converter demand. The logistics business, Unitrans, was stable. he said the group was comfortable with current debt levels. Operating profit before capital items declined by 8%.

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UK lender OakNorth faces up to its first downturn (Euromoney magazine)

Higher interest rates will weigh heavily on the property development lending that makes up the bulk of OakNorth's loan book.

Rishi Khosla, co-founder and chief executive of OakNorth, is clearly someone who fights hard to get things the way he wants them. This was an obvious strategy when rates were low but now, with higher rates, gathering low-cost retail deposits is much more profitable than it was before, while borrowers’ repayment capacity in areas such as unsecured consumer credit and SMEs is weakening. For staff at OakNorth, too, this is no time to rest.

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Unilever Tries Reformulating Its Ice Cream to Survive Warmer ... (The Wall Street Journal)

Unilever wants to warm up its ice cream freezers in convenience stores without turning its products into puddles, part of a broader effort to pursue green ...

If and when the company cracks the secret of reformulating its ice creams, it plans to share some of its learnings with its competitors so they might be able to do the same, he said. If the pilots are deemed successful, Unilever will need to manually increase the temperature of its freezers in around 60 countries. The warming program isn’t designed to sweat competitors out of Unilever freezers, which some shopkeepers fill with an assortment of brands that don’t carry the Unilever logo, Mr. Taking place in Indonesia, the research will involve testing both the melting and sensory properties of the reformulated ice creams, as well as blind taste tests. The project so far has involved around a decade of research and development in ice cream formulation, but began making real progress in the past few years because of recent developments in sugar technologies, he said. Some of its purpose-driven programs and advertising campaigns in recent years have been denounced by activists and regulators as forms of corporate greenwashing or surface-level marketing stunts that fail to make a real difference. Unilever declined to disclose the effort’s overall cost, saying the project has by and large been baked into existing research and development budgets. Higher temperatures can lead to softer ice creams that stick to wrappers and slide off ice cream sticks, for example, said Andrew Sztehlo, chief research and development officer for Unilever’s ice cream division. The first pilot, which took place in Germany, determined which products were naturally resilient to warmer temperatures and wouldn’t require reformulation. But the strategy has required Unilever to reformulate some of its ice creams so they can withstand higher temperatures without melting, losing structural integrity or forfeiting what the company calls their distinctive mouthfeel. “Any measures to safely reduce energy bills, such as freezers and refrigeration that use less power, would certainly be welcomed by retailers.” Keeping ice cream at 10 degrees as opposed to zero will reduce energy use and greenhouse gas emissions by roughly 20% to 30% per freezer, it said.

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Indonesia takes delivery of its first C-130J-30 Super Hercules (Air Data News)

Lockheed Martin delivered the first C-130J-30 Super Hercules tactical transport turboprop to the Indonesian Air Force (IDAF) on Thursday.

According to World Air Forces 2023, Indonesia has 24 turboprops in operation, including the C-130B, (K)C-130H and the L-100, the civil variant of the Hercules. The Indonesian Air Force signed an agreement with Lockheed in 2019, but only in September 2021 did it make the contract public. Lockheed Martin delivered the first C-130J-30 Super Hercules tactical transport turboprop to the Indonesian Air Force (IDAF) on Thursday.

ESMA publishes latest edition of its newsletter (ESMA)

One of the most popular releases was our Trends, Risks and Vulnerabilities (TRV) article on Artificial intelligence (AI) in EU securities markets. The ...

[report](https://www.esma.europa.eu/sites/default/files/library/ESMA50-165-2391_MMF_market_2023.pdf) on the EU Money Market Funds. [TRV Report](https://www.esma.europa.eu/sites/default/files/library/ESMA50-165-2438_trv_1-23_risk_monitor.pdf) of 2023. Last but not least, we published our [Peer Review](https://www.esma.europa.eu/sites/default/files/library/ESMA42-111-7381_Peer_review_on_supervision_of_CSDs_providing_crossborder_services_or_participating_in_interoperable_links.pdf) on the national supervision of Central Securities Depositories providing cross-border services or participating in interoperable links. In addition, we have issued an [opinion](https://www.esma.europa.eu/sites/default/files/2023-01/ESMA32-334-589_Opinion_on_ESRS_Set_1.pdf) on the first set of draft European Sustainability Reporting Standards. One of the most popular releases was our Trends, Risks and Vulnerabilities (TRV) article on Artificial intelligence (AI) in EU securities markets. Your one-stop-shop in the world of EU financial markets focused in January and February on different topics.

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UK firm seeks SA developers to expand its tech stack (ITWeb)

A team of GPP's Cape Town-based software developers. UK-based fintech firm Global Prime Partners (GPP) is expanding its technology team. The financial ...

We have amazing female engineers in the various teams and we are looking to create an avenue of tech skills within the younger generation,” concluded Sumner. At the same time, we are bringing international education of financial instruments to local developers. “While we do not target South African clients, from a technical perspective, our developer team is entirely locally-based. The product is currently being transformed to add more value to clients through further expansion, modernisation and integration. “We have partnered with Microsoft, and as part of this new development, we are expanding our software developer team and have exclusively selected the development team in SA to prepare us to scale for growth,’ noted Sumner. The acquisition, he added, is part of Titan’s strategy to bring a new proposition to the wealth and asset management sector in the UK, and offer independent services to investment managers and independent financial advisers.

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Mercedes-Benz is building its very own in-car operating system (Top Gear)

At the same time as revealing the new Mercedes Modular Architecture (MMA), which MB.OS is built on, the German brand has also disclosed details of a special ...

Mercedes Benz will be software defined from end-to-end and will reinvent the company as a luxury-focused, software-driven technology company." Self-driving standards have been set by the Society of Automotive Engineers (SAE). Jensen Huang, CEO of Nvidia, said: "[The] decision to put in supercomputers [means MB is] building a giant fleet of cars that will never get old. It will have an API supported by Android (Google, again) in the UK, so selected third-parties can get in on the action. Schafer has been clear about what the brand is already capable of, previously citing computer-piloted overtaking, but regulation plays a big role and It’s developed a system to denote levels of autonomy, where zero is no autonomy and five is full autonomy. From gaming to movie streaming and conference-calling, the new operating system expects to ‘elevate the infotainment experience’. At the same time as revealing the new Mercedes Modular Architecture (MMA), which MB.OS is built on, the German brand has also disclosed details of a special relationship with Google to create the next-gen navigation system - which essentially puts all things Google Maps integrated into the car. The really interesting bit - to get our super-nerd on - is the Chip-to-cloud IoT (Internet of Things) stuff. It mitigates the chances of bad actors breaching devices because the direct relationship to the cloud removes potential gateways for hackers to exploit. They were keen to emphasise the security improvements made by adopting chip-to-cloud architecture, which will be central to every future Mercedes-Benz product. The car knows you, it knows who you are…

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Mercedes partners with Google to bring Maps and YouTube into its ... (TechCrunch)

Mercedes-Benz and Google have struck a partnership to offer drivers navigation, maps and other apps like YouTube provided by the tech giant.

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Software architects: Mercedes-Benz previews its operating system ... (Business Wire)

The Mercedes-Benz Operating System (MB.OS) is a new purpose-built chip-to-cloud architecture that will be central to every future product.

As a pioneer of automotive engineering, Mercedes-Benz sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The services presented and their availability and functionalities depend in particular on time, the vehicle model, year of manufacture, selected optional equipment and country. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” ”can,” “could,” “plan,” “project,” “should” and similar expressions are used to identify forward-looking statements. As of today, the company is on track to exceed its own goal of 1 billion euro EBIT from digital services in 2025, which is already part of the existing profit targets. Mercedes-Benz will offer new services that are more personalized and convenient, thanks to the Mercedes me ID, which connects all customer-related information: from purchase and financing to service appointments right through to charging and payment data. With MB.DRIVE, customers will have the chance to expand the functions of advanced driver assistance systems in their cars. A comprehensive set of sensors will be available in the MMA platform, which will also benefit from new dimensions of processing power. The “driving brain” of the vehicle is the NVIDIA DRIVE Orin system-on-chip, capable of conducting 254 trillion operations per second to process data from a suite of sensors surrounding the vehicle. At the same time, Mercedes-Benz drivers will continue to benefit from the native integration of essential navigation functionalities, which are unavailable from off-the-shelf infotainment systems. A new MBUX API for Android allows the installation of third-party apps, offering a better user experience compared to mirrored apps. Place Details provided by Google will be available starting today in all vehicles with the latest generation of MBUX in applicable markets2. The company created its operating system to be standardized across the entire vehicle portfolio, fully updateable for rapid product upgrades and deliberately open for selected partners.

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Mercedes To Build Bespoke Google Maps Experience For Its Vehicles (Carscoops)

Mercedes announced today that it will be the first automaker on earth to build its own navigation experience based on the Google platform.

In addition, Mercedes plans to use Google Cloud’s AI and Machine Learning capabilities to develop new models faster. [Mercedes will](https://www.carscoops.com/tag/mercedes/) gain access to Google’s geospatial offerings, including real-time and predictive traffic information, automatic rerouting, and more. Mercedes announced today that it will be the first automaker on earth to build its own navigation experience based on the Google platform.

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TRA reconsiders its recommendation on Aluminium Extrusion ... (GOV.UK)

The TRA has begun a reconsideration of its recommendation on anti-dumping measures of imports of Aluminium Extrusions from China.

These measures place duties on products when they are dumped – unfairly imported into a country at prices below what they would be sold for in the country where they are made. - Anti-dumping measures are one of the three types of trade remedies allowed by the World Trade Organisation (WTO). - Reconsiderations are part of the process that parties can use to ask the TRA to look again at its decisions. It will determine whether the application received necessitates a different recommendation to that originally given to the Secretary of State for Business and Trade. It therefore recommended that a new anti-dumping duty be applied to imports of Aluminium Extrusions from China to the UK. The applicant in this case did not request that that the Economic Interest Test in this case be performed again.

Mercedes-Benz sets high financial targets with its own car software ... (marketscreener.com)

Automaker Mercedes-Benz is counting on big business opportunities for its planned proprietary car software. By the end of the decade, software-driven sales ...

That part of the software is expected to account for the largest share of software revenue by the end of the decade. automaker General Motors (GM) aims to generate up to $25 billion (23.4 billion euros) in software by the end of the decade. On the other, he said, it's also an incentive for customers to also use existing functions and pay for them./men/mis/he Mercedes has further cooperations in its quiver, for example for games or video conferencing from the providers [Zoom](/cours/action/ZOOM-VIDEO-COMMUNICATIONS-57086220/) and Webex from [Cisco](/cours/action/CISCO-SYSTEMS-INC-4862/). By the middle of the decade, spending on software should account for 25 percent of the research and development budget. From 2025, the comprehensive "MB.OS" car software is to be used in the new "MMA" vehicle platform.

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DA hoping to challenge ANC dominance as it heads for its Eastern ... (News24)

Two DA MPs, Andrew Whitfield and Chantal King, are vying for the position of provincial leader. Both candidates have committed to work more to reduce the ANC's ...

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Intel Is Cutting Its Dividend. It's a Smart Move. (Barron's)

In early trading Wednesday, Intel shares were down 0.6%, at $25.91. The stock has declined by about 42% over the past 12 months, compared with the 13% drop in ...

And it should provide the additional financial firepower it needs to fund a business turnaround. The move is a positive sign management is acknowledging the chip maker’s precarious situation. [Intel](#phrase-company?ref=COMPANY%7CINTC;onlineSignificance=significant) is finally taking its medicine by reducing its dividend.

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Intel Is Finally Cutting Its Dividend, and That's a Good Thing (Motley Fool)

The semiconductor giant cut its dividend by 66%. In this video, I will talk about Intel's (INTC -2.26%) move to cut its dividend payout by 66 ...

The Motley Fool recommends the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short January 2025 $45 puts on Intel. The Motley Fool has positions in and recommends Intel. The Motley Fool has a disclosure policy.

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Intel slashes dividend by over 65%, to 12.5 cents (CNBC)

Intel slashed its dividend from 36.5 cents to 12.5 cents, a 65% reduction that comes just weeks after the chipmaker announced wide-ranging compensation ...

[most recent results](https://www.cnbc.com/2023/01/26/intel-intc-earnings-q4-2022.html), a top- and bottom-line miss and a $664 million net loss for the fourth quarter of 2022, sent its share price sharply down. Intel's fourth-quarter loss was the chipmaker's largest since 2017. Asset manager Blackstone took its dividend from $1.27 to $0.90 in Oct. BHP, another mining firm, announced a $0.90 dividend on Monday, down 40% year-over-year. Intel CEO Pat Gelsinger said on a call with analysts that the company's board was cautious in weighing the first dividend cut since 2000. Intel's dividend yield is now 1.9%, based on Tuesday's closing price, down significantly from its prior yield of 5.6%. [company-specific issues](https://www.cnbc.com/2023/01/26/intels-horrible-quarter-inventory-glut-and-underused-factories.html), including a surplus of chips and underutilized factories. Few other large-cap companies have made such sizable cuts in recent memory. [HanesBrands](/quotes/HBI/) eliminated its dividend wholesale earlier this month, while [VF Corp](/quotes/VFC/), which counts North Face and Jansport as subsidiary brands, [cut its dividend](https://www.cnbc.com/2023/02/10/stifel-upgrades-vf-corp-after-dividend-cut-says-apparel-stock-is-at-an-attractive-entry-point.html) by over 40% earlier this month. [reaffirmed](https://www.cnbc.com/2023/01/26/intels-horrible-quarter-inventory-glut-and-underused-factories.html) its recently issued outlook for the first quarter of 2023. "No words can portray or explain the historic collapse of Intel," Rosenblatt analyst [Hans Mosesmann wrote](https://www.cnbc.com/2023/01/27/intel-stock-tumbles-after-brutal-quarter-full-year-results.html) after the earnings report. [Intel](/quotes/INTC/) cut its quarterly dividend by more than 65%, from 36.5 cents to 12.5 cents, [the chipmaker announced](https://www.businesswire.com/news/home/20230222005387/en/) Wednesday, weeks after the company implemented a wide-ranging [set of cost cuts](https://www.cnbc.com/2023/02/01/intel-executives-take-pay-cuts-after-disastrous-earnings.html).

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Intel is slashing its dividend by 66% (Silicon Valley Business Journal)

The dividend cut also follows the company's recent move to raise roughly $11 billion in additional cash via the debt markets.

Given that, cutting the company's dividend "... Under Gelsinger, the company is trying to revamp its operations. Cutting its dividend will give Intel the flexibility to make that investment and undertake the wider transformation CEO Pat Gelsinger has envisioned for it, it said in the press release. Investors reacted positively to the news at first, bidding up Intel stock 3% in early Wednesday trading. [include significant layoffs](https://www.bizjournals.com/sanjose/news/2023/01/20/intel-more-than-doubles-california-job-cuts.html) and a [reduction in pay](https://www.bizjournals.com/sanjose/news/2023/02/01/intel-pay-cuts.html) for much of its staff and executives. Those plans It will now offer a yield of 1.9% versus 5.5% previously, he said. The reduction in the payout comes as Intel has been burning cash, its business has been deteriorating and its credit has been downgraded, Rasgon said in his note. In its press release Wednesday, the company reiterated its plans to cut $3 billion in costs this year and to achieve $8 billion to $10 billion in savings by the end of 2025. [has pledged to make billions of dollars worth of cuts](https://www.bizjournals.com/sanjose/news/2022/10/27/intel-q3-cost-reductions-lower-guidance.html) in coming years to streamline its operations. [dismal fourth-quarter report](https://www.bizjournals.com/sanjose/news/2023/01/26/intel-reports-4th-quarter-earnings.html) last month [for it to cut its dividend](https://www.bizjournals.com/sanjose/news/2023/01/27/intel-poor-earnings-dividend-future.html). The move follows a sharp drop in the company's sales and profit last year and a rise in its debt as it prepares to invest billions of dollars in constructing new semiconductor fabrication plants.

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