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March 30 (Reuters) - Citigroup Inc (C.N) hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp (BAC.N), where he led the Merrill Wealth Management unit. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth management divisions. Fraser signaled the bank's intention to become a global leader in wealth management at its investor day last year. "This is a fantastic opportunity to build a leading wealth management business at the world's most global bank at a time of massive wealth creation," he said in a statement. Sieg's departure prompted the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement.

March 30 (Reuters) - Citigroup Inc (C.N) on Thursday it has hired Andy Sieg to lead its global wealth arm from Bank of America Corp (BAC.N), where he led the Merrill Wealth management unit. Two years ago, Citigroup unified its various wealth businesses into a single wealth management organization, which was led by Jim O'Donnell and included the Citi Private Bank and Citi Personal Wealth Management. At its investor day last year, Fraser signaled the bank's intention to become a global leader in wealth management. Sieg's departure led to the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement. Sieg joined Merrill Lynch in 1992 and had served as Merrill president since 2017.

Macroeconomic pressures have begun to hurt American consumers, particularly those in the lower income bracket, but PayPal's customers continue to spend largely undeterred by decades-high inflation. Even so, the company's upbeat forecast comes alongside its previously announced commitment of lowering expenses in the backdrop of its key e-commerce segment feeling the pinch of a slowdown. Inflationary pressures have affected discretionary consumer spending and post-COVID spending patterns are still evolving," acting finance chief Gabrielle Rabinovitch said in a call with analysts. In a divergence from prior quarters, PayPal said it will not provide a forecast for full-year revenue growth. PayPal said it expects full-year adjusted profit of roughly $4.87 on a per share basis.

Feb 9 (Reuters) - PayPal Holdings Inc (PYPL.O) forecast full-year profit above Wall Street estimates on Thursday and said Chief Executive Dan Schulman will retire at the end of 2023, after nearly eight and a half years at the payment firm's helm. PayPal said it expects full-year adjusted profit of roughly $4.87 on a per share basis. PayPal earned a profit of $1.24 per share on an adjusted basis in the fourth quarter ended Dec. 31, beating analyst estimates of $1.20 per share. PayPal was one of the biggest winners during the COVID pandemic when people locked at home used its platform while shopping online. Reporting by Manya Saini and Jaiveer Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Feb 8 (Reuters) - Shares of solar-tracking business Nextracker Inc soared 26% in their U.S. market debut on Thursday, suggesting that the IPO market was showing signs of emerging from a prolonged freeze. "It's yet another sign that the 2023 IPO market is thawing. So it's a breath of fresh air," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Nextracker raised $638 million from 26.6 million shares in its IPO on Wednesday, higher than its original plan of $534.9 million. Founded in 2013 by Chief Executive Officer Dan Shugar, Nextracker provides solar tracker and software solutions for solar power plants.

[1/5] A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. "We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated," it said in a statement. Apple, which began selling its iPhone 14 range in September, said customers should expect longer waiting times. It has iPhone production sites in India and southern China, but its biggest is in the city of Zhengzhou in the eastern Chinese province of Henan.

[1/5] People look at Apple products as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated," it said. Its main Zhengzhou plant in central China, which employs about 200,000 people, has been rocked by discontent over stringent measures to curb the spread of COVID-19, with many workers fleeing the site. Foxconn, formally Hon Hai Precision Industry Co Ltd, is Apple's biggest iPhone maker, accounting for 70% of iPhone shipments globally.

☆ Apple warns of hit to iPhone shipments from Chinese COVID disruptions
▼ + stars: | 2022-11-06 | by ( Jaiveersingh Shekhawat | ) www.reuters.com time to read: +1 min

[1/2] A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas PeterNov 6 (Reuters) - Apple Inc (AAPL.O) on Sunday said it expects lower iPhone 14 Pro and iPhone Pro Max shipments than previously anticipated as COVID-19 restrictions temporarily disrupt production at an assembly facility in Zhengzhou, China. "The facility is currently operating at significantly reduced capacity," the iPhone maker said in a statement. Its main Zhengzhou plant in central China, which employs about 200,000 people, has been rocked by discontent over stringent measures to curb the spread of COVID-19, with many workers fleeing the site. Separately, Taiwan's Foxconn, Apple Inc's biggest iPhone maker, said on Monday it was working to resume full production at a major plant in Zhengzhou that had been hit by COVID-19 curbs, and revised down its fourth quarter outlook.

Oct 30 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) will resume using Russian airspace on some flights, the Hong Kong-based airline said on Sunday, restarting flights it had stopped after Moscow invaded Ukraine in February. Cathay Pacific will begin flying from New York to Hong Kong using the popular "Polar route" from Tuesday, the company told Reuters in an emailed statement. Citing strong headwinds and payload issues affecting its flights from the East Coast of North America to Hong Kong, Cathay Pacific said it will overfly the far eastern part of Russia. Cathay Pacific said in March that it was not routing flights through Russia's airspace, avoiding the area after the invasion of Ukraine despite longer flight times. Russia this year closed its airspace to European and U.S. airlines, forcing some long-haul flights to Asia to take longer routes.

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