BERLIN, Aug 8 (Reuters) - BioNTech (22UAy.DE) expects to begin deliveries of two Omicron-adapted vaccines as soon as October, which will help spur demand in the fourth quarter, the German biotech firm said on Monday as it reaffirmed its vaccine-revenue forecast for the year.

Demand for the vaccine, 3.6 billion doses of which have been shipped globally, is waning as most people in the Western world have received three or four shots already.

However, booster campaigns using upgraded shots specifically targeting the Omicron variant are expected to increase demand in autumn. Pending regulatory approval, BioNTech said, both of its adapted vaccines would be available in time for the campaigns.

HONG KONG, Aug 8 (Reuters Breakingviews) - In the British nursery rhyme, the Grand Old Duke of York marched his men up and down a hill to no effect. SoftBank Group (9984.T) evokes similar feelings of futility. When markets go up, so does the $67 billion group’s performance – not to mention the braggadocio of founder Masayoshi Son. With markets go down, as they did in the last three months, it reported a record $23 billion net loss. Son kept his presentation short, answered questions and talked of learning lessons.

Writedowns and realised losses in SoftBank’s venture capital-like Vision Funds accounted for the vast bulk of the hit. The company said cumulative gains from the funds had shrunk to 112.2 billion yen ($830 million) from 3.05 trillion yen as recently as March. Weak markets were the biggest single driver. But the scale of the losses suggests Vision Fund managers may have been as bearish as possible on some investments yet to be taken public. That produces an...

MEXICO CITY, Aug 8 (Reuters) - Mexican "unicorn" Clara, a startup with a valuation over $1 billion that offers corporate credit cards and expense management resources, said on Monday it has secured $150 million in debt financing from Goldman Sachs .

The funds will be used to flesh out Clara's technological infrastructure and on increasingly larger credit lines for clients, Clara's chief executive officer, Gerry Giacoman, told Reuters.

"Every day bigger and bigger companies are working with us, including some of the largest corporations operating in Latin America," Giacoman said, noting Spanish bank Sabadell (SABE.MC), Mexican hotel chain RLH Properties (RLHA.MX) and airline Volaris (VOLARA.MX) were clients.

LONDON, Aug 8 (Reuters) - A global standard setter for company climate disclosures should align with European and U.S. alternatives for easier implementation across jurisdictions and to avoid fragmenting information to investors, the European Central Bank and IMF have said.

The Frankfurt-based International Sustainability Standards Board (ISSB) has proposed global "baseline" reporting standards, which attracted over 1,300 responses just published. read more

The aim is for more rigorous reporting to make 'greenwashing' or inflated climate-friendly claims, harder.

TOKYO, Aug 8 (Reuters) - SoftBank Group Corp (9984.T) is planning to cut headcount at its flagship Vision Fund investing arm, CEO Masayoshi Son said on Monday, after a crash in the value of its portfolio pushed his conglomerate to a record quarterly net loss.

Vision Fund, which upended the world of venture capital with splashy bets on startups such as ridehailers Uber and Didi, posted a $23.1 billion loss in the April-June quarter as value evaporated from its investments in the market rout.

"The world is in great confusion," Son said at an earnings news conference.

HONG KONG, Aug 8 (Reuters) - HSBC has appointed Patrick Boumalham as its new global head of wealth sales within its markets division, effective in September, according to an internal memo seen by Reuters and confirmed by a company spokesperson.

He replaces Antony Shaw, HSBC’s global head of wealth sales who was named the CEO of HSBC Australia two weeks ago.

The move will expand Boumalham’s current responsibilities as head of wealth sales for Asia Pacific at the bank, and he will continue to be based in Singapore.

LONDON, Aug 8 (Reuters) - Britain's accounting watchdog said on Monday it had fined auditor PwC 1.75 million pounds ($2.12 million) after it failed to properly challenge UK telecoms group BT (BT.L) once a half-a-billion pound fraud was discovered in BT's Italian operations.

BT's full-year financial statement for the year ended March 31, 2017, had to be adjusted by 513 million pounds due to the fraud, the Financial Reporting Council (FRC) said.

"The sanctions imposed in this case, where certain elements of the adjustments following a fraud were not subject to the required level of professional scepticism, underscore this message and will serve as a timely reminder to the profession," Claudia Mortimore, deputy executive counsel at the FRC, said in a statement.

HONG KONG, Aug 8 (Reuters Breakingviews) - In the British nursery rhyme, the Grand Old Duke of York marched his men up and down a hill to no effect. SoftBank Group (9984.T) evokes similar feelings of futility. When markets go up, so does the $67 billion group’s performance – not to mention the braggadocio of founder Masayoshi Son. With markets go down, as they did in the last three months, it reported a record $23 billion net loss. Son kept his presentation short, answered questions and talked of learning lessons.

Writedowns and realised losses in SoftBank’s venture capital-like Vision Funds accounted for the vast bulk of the hit. The company said cumulative gains from the funds had shrunk to 112.2 billion yen ($830 million) from 3.05 trillion yen as recently as March. Weak markets were the biggest single driver. But the scale of the losses suggests Vision Fund managers may have been as bearish as possible on some investments yet to be taken public. That produces an...

HAMBURG, Aug 8 (Reuters) - Water levels on the Rhine in Germany fell again during hot dry weather over the weekend and cargo vessels cannot sail fully loaded, vessel brokers and commodity traders said on Monday.

Shallow water is causing problems for shipping on the entire river in Germany. The Rhine is one of the key channels linking Germany's industrial heartlands with the North Sea ports from which products are exported to world markets.

Freight shipping on the river continues, but with vessels sometimes forced to sail three-quarters empty. Hot and dry weather is forecast this week and no relief is in sight.

ZURICH, Aug 8 (Reuters) - Richemont (CFR.S) has asked shareholders to reject a candidate proposed by Bluebell Capital Partners for election to the luxury group's board at its upcoming annual general meeting.

Bluebell is seeking a board seat for Francesco Trapani, the former head of Italian luxury label Bulgari and a Bluebell co-founder at the meeting due to be held on Sept. 7.

The activist fund manager wants Cartier-owner Richemont to concentrate on jewellery and watches, saying that could double its share price in the medium term. read more

SHANGHAI/NEW YORK, Aug 8 (Reuters) - Billionaire hedge fund manager Ray Dalio's huge popularity in China has not only drawn local investors flocking to his funds but also spawned home-grown challengers using his "All Weather" strategy and brand to try to beat him at his own game.

Now, the Connecticut-based hedge fund giant he founded, Bridgewater Associates, is pushing back.

In recent months, Bridgewater registered in China several "All Weather" trademarks in English and Chinese, an effort to tackle the "confusion" created by local copycats, said Joanna Alpert, Bridgewater China's portfolio manager.

PARIS, Aug 8 (Reuters) - French utility company Veolia confirmed it would sell Suez's UK waste business to Australia's Macquarie Group Ltd (MQG.AX) for around 2.4 billion euros ($2.4 billion), in a deal aimed at resolving antitrust concerns.

"Following this transaction, Veolia will remain a major player in the waste sector in the United Kingdom and, more broadly, in the environmental services market in the region, which remains strategic for the group," said Veolia chief executive Estelle Brachlianoff.

Veolia had earlier said that it was proposing to sell off its former rival, Suez's UK waste business, after Britain's Competition and Markets Authority (CMA) raised objections to the Veolia/Suez combination.

TOKYO, Aug 8 (Reuters) - SoftBank Group Corp (9984.T) unveiled a $23 billion quarterly net loss on Monday, its biggest ever, as a market sell-off upended tech stocks and shredded valuations at its sprawling Vision Fund unit.

The pain in the April-June quarter comes fresh after the closely watched Vision Fund posted a record $26 billion loss in May, when rising interest rates and political instability disrupted global markets, and could test investor willingness to stomach further big losses.

SoftBank founder and CEO Masayoshi Son has already pledged to tighten investing criteria and preserve cash to ride out the downturn and on Monday he signalled cuts to headcount at the Vision Fund, saying there were no "sacred areas".

Aug 8 (Reuters) - Dutch postal operator PostNL (PTNL.AS)on Monday lowered its 2022 profit outlook for the second time this year, as "unprecedented high level of inflation" and pressure on consumer spending hit costs and e-commerce volumes.

As Europe grapples with soaring labour and fuel costs, postal operators face further challenges from decreasing volume levels and consumer confidence.

"The current macroeconomic and geopolitical environment is challenging and causes headwinds, especially for the logistics industry," Chief Executive Herna Verhagen said, adding this limited visibility on consumer behaviour.

HONG KONG, Aug 8 (Reuters) - HSBC has appointed Patrick Boumalham as its new global head of wealth sales within its markets division, effective in September, according to an internal memo seen by Reuters and confirmed by a company spokesperson.

He replaces Antony Shaw, HSBC’s global head of wealth sales who was named the CEO of HSBC Australia two weeks ago.

The move will expand Boumalham’s current responsibilities as head of wealth sales for Asia Pacific at the bank, and he will continue to be based in Singapore.

NEW YORK, Aug 8 (Reuters) - U.S. fuel retailers are fighting the inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats' $430 billion spending bill, arguing SAF is more carbon intense and less efficient than renewable diesel.

Lawmakers are offering a $1.25-$1.75 per gallon SAF credit depending on the feedstock used, as part of a tax and climate bill that aims to lower U.S. carbon emissions by about 40% by 2030 and cut the federal budget deficit by $300 billion.

The bill is expected to pass the Senate and move to the House with the SAF credit included next week. Democrats control the House and approval with the credit is expected.

LONDON, Aug 8 (Reuters) - Britain's accounting watchdog said on Monday it had fined auditor PwC 1.75 million pounds ($2.12 million) after it failed to properly challenge UK telecoms group BT (BT.L) once a half-a-billion pound fraud was discovered in BT's Italian operations.

BT's full-year financial statement for the year ended March 31, 2017, had to be adjusted by 513 million pounds due to the fraud, the Financial Reporting Council (FRC) said.

"The sanctions imposed in this case, where certain elements of the adjustments following a fraud were not subject to the required level of professional scepticism, underscore this message and will serve as a timely reminder to the profession," Claudia Mortimore, deputy executive counsel at the FRC, said in a statement.

HONG KONG, Aug 8 (Reuters Breakingviews) - Chinese officials love enumeration: the "Three Represents" outlines the responsibilities of the Chinese Communist Party; the "Five Confidences" codify socialism with Chinese characteristics. The latest "Eight Suspends" may well become shorthand for the final stage of the disintegrating relationship between Washington and the People’s Republic.

On Friday Beijing ended bilateral cooperation on drugs, climate, military dialogue and crime after House of Representatives Speaker Nancy Pelosi visited Taiwan, an independently governed island over which China claims sovereignty. In the near-term little will change because actual collaboration in those areas was at best minimal in the first place.

Some American negotiators may even be relieved. Over the weekend, China’s navy has turned the Taiwan Strait into an enormous missile testing ground, but that is preferable to a full-scale blockade or invasion. Beijing has also banned a...

HAMBURG, Aug 8 (Reuters) - Water levels on the Rhine in Germany fell again during hot dry weather over the weekend and cargo vessels cannot sail fully loaded, vessel brokers and commodity traders said on Monday.

Shallow water is causing problems for shipping on the entire river in Germany. The Rhine is one of the key channels linking Germany's industrial heartlands with the North Sea ports from which products are exported to world markets.

Freight shipping on the river continues, but with vessels sometimes forced to sail three-quarters empty. Hot and dry weather is forecast this week and no relief is in sight.

HONG KONG, Aug 8 (Reuters) - The list of Chinese companies facing delisting risks in New York in a long-running dispute over Chinese audits of their accounts continues to expand with the addition of three more on Friday after e-commerce giant Alibaba's (9988.HK) July inclusion.

As talks between Beijing and Washington in search of a resolution drag on, U.S. regulators and politicians have been ratcheting up calls for a resolution, hammering out a message to China that time is running out for both sides to strike a deal. read more

Here's what you need to know about the deal talks so far, and what to watch out for in the coming months.

Aug 7 (Reuters) - Private equity firm Carlyle Group Inc said on Sunday Chief Executive Kewsong Lee, 56, has stepped down with immediate effect months before the scheduled end of his five-year contract.

Carlyle said in a statement it and Lee mutually agreed his contract which was due to finish at the end of 2022 would not be renewed, without disclosing their reasons. The firm, which reported earnings two weeks ago without flagging potential leadership changes, said Lee had also stepped down as a board member. read more

Co-founder Bill Conway will serve as interim CEO while the search for a new candidate takes place, the company said.

NAIROBI, Aug 8 (Reuters) - Millions of Kenyans will head to the polls on Tuesday to pick a new president in a fiercely contested election that pitches veteran opposition leader Raila Odinga against Deputy President William Ruto.

President Uhuru Kenyatta is not running due to term limits but is backing Odinga. Lawmakers and country officials will also be elected.

The final four opinion polls published last week put Odinga ahead with a margin of 6-8 points but Ruto has dismissed them as fake and designed to sway the electorate.

Aug 8 (Reuters) - Degrowth - the idea that a finite planet cannot sustain ever-increasing consumption - is about the closest you can get to a heresy in economics, where growth is widely held as the best route to prosperity.

But, as climate change accelerates and supply chain disruptions offer rich-world consumers an unaccustomed taste of scarcity, the theory is becoming less taboo and some have started to ponder what a degrowth world might look like.

After the U.N. climate science agency this year called for cuts in consumer demand - a core degrowth premise - the think tank that runs the Davos forum published a degrowth primer in June and the issue has even begun to crop up in investment notes.

ZURICH, Aug 8 (Reuters) - Richemont (CFR.S) has asked shareholders to reject a candidate proposed by Bluebell Capital Partners for election to the luxury group's board at its upcoming annual general meeting.

Bluebell is seeking a board seat for Francesco Trapani, the former head of Italian luxury label Bulgari and a Bluebell co-founder at the meeting due to be held on Sept. 7.

The activist fund manager wants Cartier-owner Richemont to concentrate on jewellery and watches, saying that could double its share price in the medium term. read more