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☆ 'Boomerang' CEOs of major companies
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Sam Altman reached an agreement with OpenAI to return as CEO on Wednesday, after a tumultuous few days following his ouster by the company's board. He joins a list of big name "boomerang" chief executives who have made comebacks at a later date. DELL (DELL.N) - MICHAEL DELLMichael Dell founded Dell Inc in 1980s and held the position of CEO until 2004, when he stepped down to serve as chairman. He returned as CEO in 2007 and led the company through the merger with EMC, which resulted in the emergence of Dell Technologies. He returned as CEO in 2023 amid challenges related to UBS's takeover of peer Credit Suisse.

Persons: Sam Altman, OpenAI, Steve Jobs, John Sculley, DELL, MICHAEL DELL Michael Dell, ROBERT IGER Robert Iger, HOWARD SCHULTZ Howard Schultz, JACK DORSEY Jack Dorsey, Evan Williams, Dorsey, SERGIO ERMOTTI Sergio Ermotti, Ralph Hamers, Boleslaw Lasocki, Victor Goury, Milla Nissi, Jane Merriman Organizations: Apple, Dell Inc, EMC, Dell Technologies . DISNEY, NBA, TWITTER, Twitter, UBS, Suisse, Thomson Locations: U.S, Swiss, Laffont, Gdansk

☆ Novo Nordisk shares rise as Wegovy shows heart benefits beyond weight loss
▼ + stars: | 2023-11-13 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

LONDON, Nov 13 (Reuters) - Novo Nordisk (NOVOb.CO) shares rose 3% on Monday as the market reacted to data the drugmaker presented over the weekend showing that the heart protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Wegovy is part of a class of drugs that mimic a gut hormone that helps regulate blood sugar and appetite. U.S. companies across sectors such as food and beverage makers have addressed investor concerns on the potential impact to their businesses from the growing popularity of the promising weight-loss drugs. Novo was first to market with its highly effective weight loss drugs. At the close of markets on Friday, Novo's shares were up 47.5% this year.

Persons: Markus Manns, Jefferies, Wegovy, Novo, Eli Lilly's, Lilly, Novo's, Maggie Fick, Boleslaw Lasocki, Medha Singh, Louise Heavens Organizations: Novo Nordisk, Novo, Union Investment, Reuters, Pfizer, Jefferies, U.S, Thomson Locations: United, Germany, Novo, U.S, Bengaluru

☆ OVH forecasts lower revenue growth in 2024 amid tough backdrop
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The logo of French cloud computing company OVHcloud is seen on the company's building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier Acquire Licensing RightsOct 25 (Reuters) - OVHcloud (OVH.PA) on Wednesday forecast lower organic growth in the next fiscal year, citing uncertain macroeconomic conditions continue to dent the French cloud services provider's operations. OVH sees its revenue in the 2024 fiscal year to rise by 11-13%, while analysts in a company-compiled poll expect full-year revenue growth of 14.7% on average. Revenue in the year rose 13.4% to 897 million euros ($950.91 million), a touch below 899.8 million seen by analysts, OVH said. This came in line with its latest forecast for a 13-14% full-year growth.

Persons: Sarah Meyssonnier, OVH, Boleslaw Lasocki, Christopher Cushing, Sherry Jacob, Phillips Organizations: REUTERS, Revenue, Thomson Locations: Paris, France, North America

☆ These European companies cut jobs this year
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +4 min

TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.

☆ Teleperformance full-year revenue tops guidance
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - French office services and call centre company Teleperformance (TEPRF.PA) posted full-year revenue slightly above its previous guidance on Thursday, helped by a drive towards digitalisation among clients. The company posted 12.5% like-for-like revenue growth to 8.15 billion euros ($8.7 billion), slightly above its 12% growth estimate provided in November. Teleperformance came under pressure in Colombia last November over work practices in its content moderation business. Teleperformance targets recurring organic or self-generated growth of about 10.0% and an EBITA margin increase of 20 basis points in 2023. It had also confirmed its 2025 financial targets of at least 10 billion euros in revenue and an EBITA margin of 16%.

☆ Bavarian Nordic to buy travel vaccine portfolio for up to $380 mln
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 15 (Reuters) - Danish pharmaceuticals company Bavarian Nordic (BAVA.CO) has agreed to buy a portfolio of travel vaccines from Emergent BioSolutions Inc (EBS.N) for up to $380 million, it said on Wednesday after delivering an upbeat outlook for 2023. The company said it would acquire a typhoid fever vaccine, one against cholera and a Chikungunya virus treatment that is in Phase III trials. Bavarian Nordics makes the only approved mpox vaccine and started receiving massive orders last year as the virus became a global issue. The company expects 2023 revenue of about 6 billion Danish crowns ($863 million) against the 3.15 billion crowns in preliminary 2022 results, with 4.4 billion crowns coming from mpox and smallpox vaccined contracts alone. Earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to reach 2.2 billion crowns this year, up from 329 million crowns in the preliminary results for 2022.

German chemicals maker Covestro (1COV.DE) lowered its 2022 earnings guidance for the third time this year, blaming gas and raw material prices. Gas prices in Europe have eased in response to an unusually warm October and projections of a mild winter. The group, which relies heavily on natural gas, is buying from outside Europe, where prices are lower. RACE TO CUT COSTSCompanies across Europe are racing to reduce their energy use ahead of the winter when demand increases as households turn up the heat. Chemical companies are among the hardest hit by the energy crisis because they use gas as a raw material for production and as an energy source.

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