Sept 15 (Reuters) - The U.S. Treasury Department on Wednesday denied a request by Canadian gold miner Crystallex to receive shares in Venezuelan-owned U.S. refiner Citgo Petroleum Corp as partial payment for debt, according to a document seen by Reuters.

Treasury's Office of Foreign Assets Control (OFAC) told Crystallex the State Department had determined such a sale would be inconsistent with U.S. foreign policy interests, but that Washington would reassess these considerations during the first half of 2022.

Citgo has been controlled by Venezuelan opposition leader Juan Guaido since 2019, when Washington recognized him as the South American country's leader and sanctioned state oil company PDVSA - Citgo's ultimate parent - in a bid to oust President Nicolas Maduro, who it accused of election-rigging.

A judge approved the sale of shares in Citgo's immediate parent earlier this year to satisfy Crystallex's $1.4 billion judgment for the expropriation of its...

MILAN, Sept 15 (Reuters) - Amazon.com Inc (AMZN.O) has struck a deal with Italian trade unions promising to engage with them more in the running of operations in the country.

The framework agreement, seen by Reuters, comes shortly after news that a group of Canadian workers are seeking to unionize as Amazon continues to manage discontent among some workers at its warehouses. read more

The world's largest online retailer has long discouraged staff from organising and staved off a high-profile attempt to form a union in the United States this year.

But globally, it continues to face challenges such as warehouse closures that unions in France pushed for during the COVID-19 pandemic.

In a protocol signed on Wednesday, Amazon Italia agreed to consult with trade unions on issues like new openings, job training and industrial relations with authorities.

"An important agreement ... and recognition of the role of the unions, marking something new, at a...

WASHINGTON, Sept 15 (Reuters) - U.S. banking regulators are working on new climate risk management guidance for large lenders, a top official said on Wednesday, in another sign of efforts to incorporate the risks posed by rising temperatures into financial rules.

Acting Comptroller of the Currency Michael Hsu said his agency was working on the guidance in collaboration with other banking regulators to help lenders navigate the physical and transition risks climate change poses to the financial system.

Climate change could upend the financial system because threats such as rising sea levels, as well as policies and carbon-neutral technologies aimed at slowing global warming, could destroy trillions of dollars of assets, risk experts say.

"Climate change poses an existential risk to society and the associated financial risks pose safety and soundness risk to banks. To safeguard trust, banks and regulators must begin to take action now," Hsu said during a speech...

NEW YORK, Sept 15 (Reuters) - Billionaire investors Steven Cohen and Ray Dalio have joined the cryptocurrency craze by putting cash to work and saying at a conference this week that bitcoin and other digital currencies are an interesting way to diversify their holdings.

Dalio, who founded the world's largest hedge fund, Bridgewater Associates, told attendees at the SALT conference in New York on Wednesday, "I have more crypto than gold."

Cohen, who runs Point72 Asset Management, said earlier this week at the conference that he hopes not to miss out on opportunities presented by the digital currencies.

SkyBridge, the alternative investment firm whose founder, Anthony Scaramucci is hosting the SALT conference, has a 12% investment in bitcoin, the firm's co-chief investment officer, Ray Nolte, said at the event.

Even as investment firms seek to create funds for cryptocurrencies that feel and look like stock and bond funds, they are known for being volatile...

WASHINGTON, Sept 15 (Reuters) - U.S. Treasury Secretary Janet Yellen and Vice President Kamala Harris on Wednesday called for urgent action to make affordable childcare available to more families, calling such investments critical to ensuring U.S. growth and global competitiveness.

Harris and Yellen lauded a new Treasury report that charts the failures of the current privately-financed childcare system and shows the positive impact for women, families and the overall economy from the increased public spending envisioned in President Joe Biden's $3.5 billion legislation package.

"This is a fight for our future," Harris said during her first visit to Treasury since taking office. She pointed to estimates that U.S. gross domestic product would expand by 5% if women participated in the workforce at the same rate as men.

Democrats are negotiating over Biden's package that would fund free preschool for all 3- and 4-year olds; boost pay for childcare workers, 95% of...

Sept 15 (Reuters) - Self-driving startup Argo AI, automaker Ford Motor Co (F.N) and Walmart Inc (WMT.N) will together launch an autonomous vehicle delivery service in Miami, Austin, and Washington, D.C, the companies said on Wednesday.

Initial integration testing is expected to begin later this year, the companies added.

The move comes as consumer expectations shift to next-day or same-day delivery, particularly in urban areas with a higher concentration of deliveries.

MEXICO CITY, Sept 14 (Reuters) - Mexico's telecommunications regulator IFT said on Tuesday it had authorized the plan for U.S.-based Spanish-language broadcaster Univision to acquire the content business of Mexico's Grupo Televisa in a deal to create a new company.

The two companies in April announced a plan to create a new firm called Televisa-Univision, which will feature Spanish-language video content from both broadcasters, including soap operas known as telenovelas, sports and movies.

The IFT said in a statement its analysis did not find anti-competitive effects.

"No anti-competitive effects derived from the transaction are expected in these coinciding activities of Univision Holdings and Grupo Televisa, largely due to the marginal participation of Univision Holdings in Mexico," the IFT said.

The transaction, partially financed by a $1 billion Series C preferred investment led by the SoftBank (9984.T) Latin American Fund, with participation from...

NEW YORK, Sept 15 (Reuters) - Billionaire investor Ray Dalio, who founded the world's largest hedge fund, Bridgewater Associates, said at the SALT conference on Wednesday that he expects to be "done in a year or two" when asked about his future plans.

Bridgewater has been transitioning to the next generation of leadership for some time, and Dalio, when asked what he planned to do, said "go quiet."

Dalio, 72, is widely followed for his opinions on global problems and potential solutions. He is Bridgewater's Co-Chairman & Co-Chief Investment Officer.

Sept 15 (Reuters) - Blue Apron Holdings Inc (APRN.N) said on Wednesday its co-founder and chairman Matthew Salzberg has resigned from the board of the meal kit delivery company to focus on other business interests.

Jennifer Carr-Smith, a current independent board member, will succeed Salzberg, the company said.

Blue Apron also said it was looking to raise $78 million in equity, including a $3 million private placement with Salzberg, to fund growth and raise wages for hourly employees.

Salzberg co-founded Blue Apron in 2012 and served as its chief executive until 2017.

NEW YORK, Sept 15 (Reuters) - A southern California company that sells beer, wine and bottled water targeting female customers has been sued by the U.S. Securities and Exchange Commission for allegedly defrauding investors out of millions of dollars.

In a complaint filed on Tuesday, the SEC said SHE Beverage Co raised over $15 million from more than 2,000 investors in unregistered stock sales from 2017 to 2019 by falsely touting its business plans and promoting its successes.

The SEC said the Lancaster, California-based company overstated revenue, spent only 2% of investor proceeds on beverage inventory instead of the promised 30% and made bogus claims it had received takeover bids as high as $500 million.

It also said Chief Executive Lupe Rose, Chief Financial Officer Sonja Shelby and Chief Operations Officer Katherine Dirden misappropriated at least $7.5 million from investors, including $1.2 million spent at casinos and other sums to buy cars, trucks and...

NEW YORK, Sept 15 (Reuters) - The dollar slumped against major currencies on Wednesday after softer-than-expected U.S. inflation data released on Tuesday eased short-term expectations about tapering of asset purchases from the Federal Reserve.

The dollar index last stood at 92.514, down about 0.2% from Tuesday, when it dropped following the inflation data but recovered on haven demand as stocks slid on Wall Street.

But the dollar trimmed losses after positive data showing import prices fell unexpectedly in August and a higher-than-expected reading for the New York Fed's business survey. read more

These reports offset figures showing U.S. manufacturing output slowed in August, rising 0.2% from a 1.6% increase the previous month. read more

"The reality is that there is no guidance other than the obvious: poor economic indicators mean the recovery from the pandemic has slowed down more than expected by Delta," said Juan Perez, FX strategist and trader...

1?? U.S. housing regulator proposes tweaks to capital rules for Fannie Me and Freddie Mac 2?? Roger Federer-backed shoemaker 'On' valued at over $11 billion in New York debut 3?? The micro-economy spinning around Lionel Messi's Paris adventure Stay updated on the top business stories at: https://www.reuters.com/business/

Sept 15 (Reuters) - Canadian Pacific Railway Ltd (CP.TO) inked a $27.2 billion cash-and-stock deal to buy Kansas City Southern (KSU.N) on Wednesday after Canadian National Railway Co (CNR.TO) conceded it could not save its own $29.6-billion deal for the U.S. railway.

The combination will create the first direct railway linking Canada, the United States and Mexico, with a network spanning 20,000 miles and approximately $8.7 billion of annual revenue. It marks the end of a high-stakes bidding war.

The $300 per share cash-and-stock deal that Canadian Pacific clinched is higher than the $275 per share cash-and-stock deal that it had secured in March to buy Kansas City Southern. That deal was scrapped when Canadian National wooed Kansas City Southern in May with a $325 per share cash-and-stock offer.

Kansas City Southern shares were little changed at $281.55 in Wednesday trading in New York.

Canadian National suffered a blow when the U.S. Surface...

Sept 15 (Reuters) - More than half of 530 corporate executives have little or no confidence in the reliability and maturity of their environmental, social and corporate governance (ESG) programs, according to a global survey from corporate governance advocacy non-profit OCEG.

The report paints a dim picture of the corporate world's perception of ESG initiatives, which vary greatly in ambition, disclosures and standards across companies and are increasingly coming under scrutiny from regulators concerned about "greenwashing".

While 78% of the executives think that ESG efforts have an impact on a corporation's brand and reputation, only 48% believe it affects a company's financial outcomes, according to the survey, which was previewed with Reuters ahead of its publication on Wednesday.

Roughly 28% of the respondents said they had no confidence at all that their organizations had "mature, well-documented" ESG capabilities. Another 30% said they had minimal...

WASHINGTON, Sept 15 (Reuters) - The United States is developing a "new system for international travel" that will include contact tracing for when it eventually lifts travel restrictions that bar much of the world's population from entering the country, a senior White House official said on Wednesday.

White House coronavirus response coordinator Jeff Zients told the U.S. Travel and Tourism Advisory Board the administration does not plan to immediately relax any travel restrictions citing COVID-19 Delta variant cases in the United States and around the world.

Reuters first reported early in August that the White House was developing vaccine entry requirements that could cover nearly all foreign visitors. The White House previously confirmed it was considering mandating vaccines for foreign international visitors.

"The American people need to trust that the new system for international travel is safer even as we - I mean at that point - we'll be letting in more...

BOSTON, Sept 15 (Reuters) - Support for climate-related shareholder resolutions at U.S. companies rose significantly this year, according to a report released on Wednesday, as investors focused on economic threats posed by global warming.

The paper, from Institutional Shareholder Services, the largest proxy adviser, found median support for the proposals was 48.9% during the proxy season ended June 30, up from 37.6% in 2020 and 27.5% in 2019.

The total number of resolutions filed rose to 84, also an increase from the prior two years, the report found.

Popular themes for shareholder climate resolutions this year included aligning emissions with the goals of the Paris Agreement, company greenhouse gas emissions and disclosures, and resolutions aimed at company lobbying activities, ISS said.

“The 2021 U.S. proxy voting season marked an escalation of shareholder engagement on climate-related issues and an expansion of investor voting approaches," said...

CHICAGO, Sept 15 (Reuters) - New data from Moderna Inc's (MRNA.O) large COVID-19 vaccine trial shows that the protection it offers declines over time, supporting the case for booster doses, the company said in a news release on Wednesday.

Several recent studies have suggested that its vaccine may have an edge over a similar shot from Pfizer Inc (PFE.N) and German partner BioNTech SE in terms of maintaining efficacy over time.

Experts said the difference is likely due to Moderna's higher dose of messenger RNA (mRNA) and the slightly longer interval between the first and second shots.

Both vaccines proved to be exceedingly effective at preventing illness in their large Phase III studies.

The analysis released on Wednesday, however, showed a chink in the Moderna shot's armor over time, with higher rates of infection among people vaccinated roughly 13 months ago compared with those vaccinated roughly eight months ago. The study has yet to undergo peer...

PARIS, Sept 15 (Reuters) - For Paris photographer Olivier Sanchez, there is only one story in town: the new life of Lionel Messi.

Newspapers and magazines around the world harangue his Crystal Pictures agency for images of the Argentine footballer, his wife and children settling into the French capital a month after arriving.

"Today, for me, it is Messi and no one else," he said. "Everybody wants a piece of him. He is king. Simple."

When Messi's childhood club FC Barcelona announced they could not afford to keep the six-times Ballon d'Or winner, French club Paris St Germain (PSG) swooped.

PSG agreed a staggering net salary of 71 million euros ($84 million) over two years, according to media, but club chairman Nasser al-Khelaifi said bluntly that people would be "shocked" by the revenue he would fetch.

The money train extends far beyond the club.

From luxury real estate agents to Argentine restaurant owners, paparazzi to private concierge,...

Sept 15 (Reuters) - Shares of Roger Federer-backed On Holding AG (ONON.N) jumped more than 47% in their debut on the New York Stock Exchange on Wednesday, valuing the shoemaker at about $11.35 billion.

The IPO comes at a time when athletic gear, especially shoes, has been flying off the shelves at most retailers as COVID-19-led gym closures push people to take up running to keep themselves fit.

The company sold 31.1 million shares in its initial public offering (IPO) priced at $24, well above its $20 to $22 target price range, raising $746.4 million. Its stock opened at $35.40.

On was founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Federer investing an undisclosed sum in the company in 2019.

The 20-times Grand Slam winner teamed up with the company earlier this year to develop the Roger Pro tennis shoe.

On also makes a 100% recyclable brand of running shoes, called Cyclon, made from castor beans....

Sept 15 (Reuters) - Democrats are crafting a massive spending package as big as $3.5 trillion that would transform the U.S. economy by investing in free community college, childcare and green energy, funded by tax hikes on the wealthy and larger companies.

The bill's authors must balance the Biden White House's campaign pledges and the party's progressives and moderates, all while catering to lawmakers empowered by Democrats' razor-thin majorities in Congress to demand pet concessions.

Facing unified Republican opposition, Democrats will need to pass the bill on strict party lines using a legislative tool called budget reconciliation. They cannot afford to lose even one vote in the Senate and more than three votes in the House of Representatives.

Here are the key flashpoints:

HOW BIG IS IT, ANYWAY? The Biden administration is pushing $3.5 trillion in spending over 10 years, but some moderate Democrats, including Representative Stephanie Murphy of...

WASHINGTON, Sept 15 (Reuters) - U.S. Federal Trade Commission staff presented data on Wednesday on small acquisitions by five big technology companies, and the agency scrapped guidelines on vertical mergers which combine a company with a supplier -- both steps indicating plans to be tougher on deals.

Following a study begun during the Trump administration, the FTC staff found that Facebook (FB.O), Alphabet's Google (GOOGL.O), Amazon.com (AMZN.O), Apple (AAPL.O) and Microsoft (MSFT.O) together had 616 acquisitions from 2010 to 2019 that were above $1 million but too small to be reported to antitrust agencies, among other findings.

Commissioner Rebecca Slaughter, a Democrat, said looking at deals individually was inadequate. "I think of serial acquisitions as a Pac-Man strategy. Each individual merger viewed independently may not seem to have significant impact. But the collective impact of hundreds of smaller acquisitions, can lead to a monopolistic behavior," she...

Sept 15 (Reuters) - Retail investors' appetite for U.S. stocks has fallen in the past week, data from Vanda Research showed on Wednesday, increasing the odds for a broader sell-off in the S&P 500 at a time when it is already about 2% off its record high.

In the five days to Tuesday, retail investors bought $657.7 million in U.S. equity exchange-traded funds, compared with $989.6 million and $1.39 billion in the preceding two weeks, partly due to a surge in demand for cryptocurrencies, analysts at Vanda wrote in a client note.

"Retail investors have bought every minor dip in equities this year, shielding the S&P against a double digit sell-off (but) this diminishing appetite to support the equity rally raises the odds of a larger sell-off if institutional investors continue to sell," said Ben Onatibia, senior strategist at Vanda.

The benchmark S&P 500 (.SPX) is down about 1.8% so far this month on worries about the economic hit from the Delta...

Sept 15 (Reuters) - Soda giant PepsiCo (PEP.O) will cut back on the use of virgin plastic and expand its SodaStream sparkling-water business to more markets amid growing calls from consumers, clients and climate change advocates to combat plastic waste.

As part of a new initiative called "pep+", the Lays chips and Pepsi maker said on Wednesday it aims to reduce virgin plastic use per serving by half across all brands by 2030, and use 50% recycled content in all its plastic packaging.

Its standard of measurement will be the amount of plastic used to serve 12 oz (ounces) of beverages and 1 oz of food, helping the company easily gauge its plastic footprint across a diverse portfolio that includes chips and snacks to sodas and oatmeal.

Rival Coca-Cola (KO.N) also plans to sell bottles made from fully recycled plastic in the United States, as the company and PepsiCo emerge as new targets for global activism because of the amount of single-use plastic waste they...

STRASBOURG, Sept 15 (Reuters) - The European Commission announced plans on Wednesday for a new chipmaking "ecosystem", to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.

The United States last year announced its CHIPS for America Act aimed at boosting its ability to compete with Chinese technology.

"Digital is the make-or-break issue," Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday.

"We will present a new European Chips Act. The aim is to jointly create a state-of-the-art European chip ecosystem, including production. That ensures our security of supply and will develop new markets for ground-breaking European tech."

Industry Commissioner Thierry Breton said chips were more than just key components for automakers, smartphone makers and video gamers.