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☆ Nvidia-backed startup Synthesia unveils AI avatars that can convey human emotions
▼ + stars: | 2024-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

U.K. tech startup Synthesia unveiled a new range of AI-generated avatars that can convey emotions like happiness, sadness, and frustration. Nvidia -backed artificial intelligence firm Synthesia on Thursday unveiled a new wave of AI-generated digital avatars that can convey human emotions using a user's text inputs. The company said its "Expressive Avatars" can blur the lines between the virtual world and real characters. In one demonstration, the company showed three lines of text being inserted into its platform — "I am happy. The company's technology is used by more than 55,000 businesses, including half of the Fortune 100, to make digital avatars for corporate presentations and training videos, according to Synthesia.

Persons: Synthesia, Kleiner Perkins Organizations: Nvidia, Fortune, Accel, GV, FirstMark, MMC Locations: London

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Here are Thursday's biggest analyst calls: Nvidia, Costco, Apple, Snowflake, Meta, Nike, Disney, Airbnb & more
▼ + stars: | 2024-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "

Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron

☆ Modular homes were hailed as a solution to housing crises. But the sector is now struggling to scale
▼ + stars: | 2024-03-18 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +7 min

Modern tech-enabled versions of modular housing promise a faster, more sustainable solution to housing crises, according to experts. The fact that modular housing is also made in a controlled factory environment means less waste is generated, while also resulting in more energy-efficient homes. A 2022 report from industry group Make UK Modular highlighted that 80% fewer vehicle movements were needed to development sites with modular building. In the U.K. last year, Ilke Homes collapsed, while Legal & General moved to wind down its modular housing factory. By comparison, a Make UK Modular report published last year said more than 3,000 modular homes were being built in the U.K. annually, though there was capacity to build five times that number.

Persons: Prefabrication, William the Conqueror, Andrew Shepherd, Shepherd, Modulous, Jonatan Pinkse, Pinkse, Suzanne Peters, Daniel Paterson, prefabrication, Richard Valentine, Valentine, Selsey Organizations: Bloomberg, Getty, Sears, CNBC, University of Cambridge, Edinburgh Napier University, Ilke, Legal, King's College, Alliance Manchester Business School, Savills Research, McKinsey, Company, Ikea, Vonovia Locations: Foston, Derby, housebuilding, England, U.S, King's College London, Wales, Selsey, Sweden, Japan, prefabrication, Berlin, Germany

☆ Modo Energy wants to become the Morningstar of the renewable energy market. It just raised $15 million with this 9-slide pitch deck.
▼ + stars: | 2023-11-29 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A British company that wants to become the go-to data platform for renewable energy just raised $15 million in a Series A funding round. London-based Modo Energy, which was founded in 2019, has developed a software-as-a-service data platform to help renewable energy owners, operators, and investors navigate the market and ultimately make more money. The startup operates a "freemium" software-as-a-service business model with three tiers, including free access to a paid version for university students. Modo Energy is also working with co-located solar and storage facilities, so that batteries are charged with solar before the energy is sold onto the grid. Check out the pitch deck Modo Energy used to raise the cash injection below.

Persons: Morningstar, Quentin Scrimshire, Banks, Fred Olsen, Scrimshire Organizations: Modo Energy, Business, Reuters, Bloomberg, MMC Ventures, Triple Point Ventures, Fred, Fred Olsen Limited, Catalyst Capital Locations: London, Texas

☆ Grain ship lightly damaged off Ukraine, likely hit sea mine - sources
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 17 (Reuters) - A merchant ship transporting grains was lightly damaged off the coast of Ukraine and was likely to have been hit by a floating sea mine, according to maritime specialists and a Ukrainian government source. This is the latest incident affecting commercial ships sailing in the Black Sea. War risk insurance premiums have risen to as much as 3% of the value of a vessel after a missile damaged a merchant ship in the Ukrainian port of Pivdennyi last week, industry sources said. A Ukrainian government source told Reuters on Friday that it was likely that a floating sea mine hit the vessel. After withdrawing from a U.N.-backed deal in July that guaranteed safe shipments of Ukrainian grain via the Black Sea, Ukraine says Russia has repeatedly attacked Ukrainian port infrastructure and also laid sea mines.

Persons: Marsh, Jonathan Saul, Gus Trompiz, William Maclean Organizations: Seagate, Thomson Locations: Ukraine, Ukrainian, Pivdennyi, Liberia, Georgia, Greece, Constanta, Sea, Russia, Kyiv, London, Paris

☆ How generative AI's uncomfortable relationship with copyright law will determine the future of the industry
▼ + stars: | 2023-11-01 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Rights holders argue that AI using their work without a license should be considered "unauthorized derivative work" — an infringement of copyright law. Meanwhile, AI startups insist that their models comply with fair-use doctrine, which grants them some leeway to others' works. This month, Universal Music Group sued the AI startup Athropic for circulating copyrighted lyrics. He believes that future regulations may explicitly forbid AI data scraping. "They can train models on data that's not universally available to customers, and tell them it's licensed and compliant."

Persons: Eva Toorenent, who's, that's, Simon Menashy, Menashy, Ekaterina Almasque, OpenOcean Almasque, Getty, Sunny Dhillon, Harvey, Horowitz, Andre Retterath, GDPR, CCPA, Taylor, Swift Organizations: Universal Music Group, Getty, Harvard Business, MMC Ventures, Kyber Knight Capital, Nvidia, Earlybird Venture Locations: what's, Europe

☆ At least 22 dead, 50 injured in mass shooting across several locations in Lewiston, Maine, police say
▼ + stars: | 2023-10-26 | by ( Mike Pescaro | ) www.cnbc.com time to read: +8 min

At least 22 people are dead and 50-60 more were injured in a mass shooting at two businesses in Lewiston, Maine, according to NBC News. Mayor Jason Levesque, the mayor of nearby Auburn, urged people in his city, Lewiston and the surrounding region to shelter in place. "I am aware of and have been briefed on the active shooter situation in Lewiston," Gov. Federal law enforcement agencies are assisting our state and local law enforcement partners in Lewiston, Maine," spokesperson Xochitl Hinojosa told NBC News. The ATF's Boston office said it is also responding to the active shooter event in Maine.

Persons: Scott Sweetow, NBC10, Sweetow, He's, Robert Card, Jim Cavanaugh, Mike Sauschuck, Sauschuck, Jonathan Dienst, Melinda Small, Small, Ange Amores, Amores, Jason Levesque, Shannon Moss, Janet Mills, Sen, Angus King, Maura Healey, Joe Biden, Anthony Albanese, Biden, King, Susan Collins, Jared Golden, Merrick Garland, Xochitl Hinojosa, Jake Langlais Organizations: NBC News, of Alcohol, Tobacco, Firearms & Explosives, Lewiston, Bowdoin, NBC, Department of Public, Auburn Middle School, Lewiston police, Central Maine Medical, Maine Medical, Legends Sports, Associated Press, Maine State Police, Maine Department of Public Safety, Police, Lewiston . Massachusetts Gov, Australian, White House, Gov, Bates College, Public Locations: Lewiston , Maine, Androscoggin County, Lewiston, Auburn, NBC10 Boston, Lisbon, Maine, Portland, State, Lewiston . Massachusetts, Mills, Sens, Boston

☆ The top battle-tested and defensive stocks to buy in an uncertain world, according to analysts
▼ + stars: | 2023-10-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Uncertainty reigns, but Wall Street analysts named a wide range of stocks this week that they believe are battle-tested buying opportunities. They include: Mattel , CBOE , Marsh & McLennan, Warner Music Group and O'Reilly Automotive. CBOE "A Strong Defensive Play In Uncertain Times," Piper Sandler analyst Patrick Moley headlined a report earlier this week devoted to CBOE. Warner Music Group Warner Music shares are down 7.5% this year, but investors should buy the dip, according to Deutsche Bank. Marsh & McLennan — Deutsche Bank, buy rating "A Defensive Stock with Growth Characteristics.

Persons: Piper Sandler, Patrick Moley, Moley, Piper, CBOE, Ben Black, Black, Marsh, McLennan, Cave, Montazeri, O'Reilly, Mattel, Morgan Stanley, Read Organizations: Street, CNBC, Mattel, McLennan, Warner Music Group, O'Reilly Automotive, Warner Music Group Warner Music, Deutsche Bank, Warner Music, Marsh, Deutsche, MMC, — Citi, McLennan — Deutsche Bank, Disney Locations: Marsh, 4Q23

☆ Europe is minting red hot AI startups like DeepL and Synthesia. Meet 15 of the most prolific investors backing the region's breakout stars.
▼ + stars: | 2023-09-28 | by ( Riddhi Kanetkar | Tasmin Lockwood | Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Meanwhile, Andreessen Horowitz has poured cash into the AI-voice-intelligence startup ElevenLabs and the Nordic AI startup Sloyd. Some of Europe's most prolific AI investors are national funds and startup accelerators. London's Phoenix Court, the parent company of the VC firm LocalGlobe, took the top spot for total investment value — with $713 million poured into AI startups since 2020. MMC Ventures, also in London, followed suit with $628 million in investments in AI startups. Insider has profiled 15 investors at these firms who have spearheaded investments into European AI startups, in no particular order.

Persons: ChatGPT, Andreessen Horowitz, LocalGlobe Organizations: Venture, Lightspeed, New, Nordic, Court, MMC Ventures Locations: French, New York, Europe, London

Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. Benefit consultants help design insurance plans for medium and large employers. About two-thirds of U.S. workers receive benefits through such plans.Insurers UnitedHealth (UNH.N), Centene (CNC.N), Cigna (CI.N) and Elevance (ELV.N), which manage employer insurance plans, declined to comment for this story. Of its projected 8.5% increase in employer healthcare costs for next year, Aon anticipates 1 percentage point coming from weight-loss drugs alone. Gene therapy treatment of just one employee could significantly raise costs for a company, consultants said.

Persons: Srdjan, Willis Towers Watson, Mercer, Marsh McLennan, Beth Umland, Aon, Novo's Ozempic, Eli Lilly's, Janet Faircloth, Jodi Picoult's, Khushi Mandowara, Leroy Leo, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Reuters Graphics, Novo, Reuters, Employers, Thomson Locations: Ljubljana, Mercer, Aon, United States, Bengaluru

☆ Warren Buffett's company invests in three homebuilders even as rates rise
▼ + stars: | 2023-08-14 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. Berkshire said that as of June 30, it owned about 5.97 million DR Horton shares worth $726.4 million, about 153,000 Lennar shares worth $17.2 million, and 11,112 NVR shares worth $70.6 million. Larger investments are usually Buffett's, and investors often try to piggyback on Berkshire's moves, reflecting Buffett's reputation as an investor. The selling included 45% of Berkshire's stake in General Motors (GM.N), whose shares fell 1% after hours. Its largest stock holding by far remained its $177.6 billion stake in Apple (AAPL.O).

Persons: Brendan McDermid, Berkshire Hathaway, Warren Buffett, Benjamin Moore, Berkshire, Todd Combs, Ted Weschler, Jonathan Stempel, Lewis Krauskopf, Marguerita Choy, Matthew Lewis Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Berkshire, Clayton Homes, DR Horton, DR, BNSF, General Motors, Apple, Capital, Globe, Marsh & McLennan, Vitesse Energy, Thomson Locations: Berkshire, New York City, U.S, Manville, Marsh, New York

☆ Inside the secret Google DeepMind mafia of founders working on new stealth AI startups
▼ + stars: | 2023-08-08 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

There is an influx of cash and interest into artificial intelligence startups right now. Insider spoke to ex-Google DeepMind staffers who have founded AI startups in stealth. He isn't the only DeepMind alum working on practical applications of artificial intelligence. Last month, Mistral, an AI startup founded by DeepMind alum, secured $113 million in seed funding from Lightspeed just four weeks after it launched. He has since been working on his second AI startup in stealth mode since June 2023, adding that working under the radar was inspired by DeepMind's "own model of working in stealth."

Persons: Mustafa Suleyman, Suleyman, Devang Agrawal, Jonathan Godwin, DeepMind, Godwin, Simon Kohl, Ang Li, isn't, Li, Simon Menashy, Adam Liska, Demis Hassabis, GlyphicAI's Agrawal, Mehdi Ghissassi, OpenAI's, Agrawal, Karl Moritz Hermann, DeepMind's Organizations: Google, Microsoft, Nvidia, Labs, MMC Ventures, DeepMind, Lightspeed Locations: DeepMind, London, California

☆ Bain Capital raises $1.15 bln for first fund dedicated to insurance investments
▼ + stars: | 2023-07-19 | by ( David French | ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Bain Capital has raised $1.15 billion for its first fund dedicated to investing in the insurance industry, as the private equity firm aims to create and invest in companies in the sector, a senior executive told Reuters. The fund exceeded its initial $750 million target through backing from high-net-worth individuals, institutional investors and family offices. It will be deployed through Bain Capital Insurance, a dedicated investment arm the firm launched in 2021. Matt Popoli, global head of Bain Capital Insurance, told Reuters that the new capital pool, Bain Capital Insurance Fund, would give his 20-strong team the ammunition to back middle-market insurance firms overlooked by others. Popoli said the fund will also invest in niche insurance brokers, which can be acquired for cheaper valuations than large rivals.

Persons: Matt Popoli, Popoli, Bain, David French, Rashmi Organizations: Bain Capital, Reuters, Bain Capital Insurance, Bain Capital Insurance Fund, Marsh & McLennan Companies, Thomson Locations: North America, Europe, Mercer, Marsh, New York

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Nearly half of startups backed by some of the UK and Europe's top VC funds have zero women on the board, trailing bigger firms
▼ + stars: | 2023-06-28 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Almost half of startups backed by top UK and European VC firms lack female board members, data shows. It means startups trail the 350 biggest listed UK firms, which hit 40% female board representation. Startups, though often promising to disrupt the status quo, are well behind larger firms when it comes to female leadership. Nearly half of startups currently backed by top UK and European venture capital firms lack any women on the board, new figures show. The data comes from 16 VC firms in the UK and Europe and covers 450 companies in their portfolios.

Persons: ESG_VC, Henry Philipson, Philipson, Michelle You, there's Organizations: European, Molten Ventures, Beringea, MMC, British Private Equity, Venture Capital Association, Investors Locations: Highland, Europe

☆ Obesity drug Wegovy's popularity has US employers rethinking insurance coverage
▼ + stars: | 2023-06-27 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

[1/2] A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. A new and more expensive version of the drug specifically for weight loss, called Wegovy, had been approved in 2021 by U.S. health regulators. Employers that cover weight-loss drugs have required medical practices to document patients’ need for Wegovy since it was approved. The federal Medicare healthcare program for Americans aged 65 and older cannot cover weight loss treatments by law. Only 16 states – the most populous being California, Pennsylvania and Michigan – cover Wegovy and other obesity drugs under their Medicaid plans for low-income patients.

Persons: Jim Vondruska, Shawnte, Aon, Mercer, Willis Towers Watson, Eli Lilly, Jeff Levin, Levin, Scherz, Michael Manolakis, William Yancy, Manolakis, Patrick Wingrove, Michele Gershberg, Suzanne Goldenberg Organizations: REUTERS, New, Warner Bros, Warner Bros Discovery Inc, Reuters, Marsh & McLennan, Employers, Barclays Research, Novo Nordisk, Duke University, Thomson Locations: Chicago , Illinois, U.S, New York, Marsh, Wegovy, California, Pennsylvania, Michigan

☆ Climate startup Supercritical nabbed $13 million to help carbon removal projects get funded. Check out the 11-slide pitch deck it used to secure the funds from Lightspeed.
▼ + stars: | 2023-06-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

London-based startup Supercritical just raised $13 million to help projects get funded via companies. London-based startup Supercritical has just raised $13 million from Lightspeed Venture Partners to help the "groundswell" of businesses pledging to invest in carbon removal. That's where carbon removal — tree-planting, sucking CO2 from the air using technology, or enhanced rock weathering — comes in. Long term, it wants to be the "no brainer" option for carbon removal purchases. Check out the 11-slide redacted pitch deck Supercritical used to raise the funds.

Persons: we've, Michelle You, Aaron Randall, Carbo Organizations: Lightspeed Venture Partners, Paris, Frontier Fund, RTP Global, Greencode Ventures, MMC Ventures Locations: London

☆ A Nvidia-backed platform that turns text into A.I.-generated avatars boosts valuation to $1 billion
▼ + stars: | 2023-06-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNTAn animated avatar generated by the AI video platform Synthesia. To do that, Synthesia has created animated avatars which look and sound like humans, but are generated by AI. Synthesia is a form of generative AI, similar to OpenAI's ChatGPT. The company doesn't disclose its sales or revenue metrics, though it says it "consistently driven triple digit growth," with over 12 million videos produced on the platform to date. Synthesia plans to ramp up investment into its technology, with a particular focus on advancing its AI research and making Synthesia avatars capable of performing more tasks.

Persons: Synthesia, Slack, Kleiner Perkins, Morgan Stanley, Victor Riparbelli, Matthias Niessner, Steffen Tjerrild, Lourdes Agapito, Philippe Botteri, Riparbelli, Nvidia isn't, it's, They're, Felix Capital, Atomico, they're, David Beckham, Beckham Organizations: Nvidia, CNBC, Accel, Facebook, Spotify, GV, FirstMark, MMC, YouTube, Netflix, Business, Iconiq, Felix, Meritech Locations: London, A.I

☆ Exclusive: Malaysian tycoon weighs selling a stake in $2.7 bln port business -sources
▼ + stars: | 2023-05-22 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

His conglomerate MMC Corp may sell a stake of up to 30% in MMC Ports, said one of the people, adding that financial investors and companies have approached MMC Corp about their interest in the ports business. A sale could be a precursor to a potential MMC Ports listing on the Malaysian stock exchange in a few years, said the sources. MMC Corp and MMC Ports did not respond to requests seeking comment. MMC Ports has seven ports in Malaysia - Port of Tanjung Pelepas, Johor Port, Northport, Penang Port, Tanjung Bruas Port, SPT Services and Andaman Port, according to its website. MMC Corp also owns stakes in Malaysia's largest independent power producer Malakoff Corp (MALA.KL) and the country's only supplier of reticulated natural gas in Peninsular Malaysia, Gas Malaysia (GASM.KL).

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) and its pilot union will offer sharply contrasting reasons for the low-cost carrier's meltdown in December that disrupted travel plans for two million customers, ahead of a U.S. Senate committee hearing on Thursday. While Southwest has cited weather impacts, the union will single out poor preparation and a failure to modernize technology, according to written testimonies for the hearing, seen by Reuters. "What began as a weather event on December 21st turned into a crew scheduling event by December 24th," said Watterson. Casey Murray, president of the Southwest Airlines Pilots Association (SWAPA) said the union has been sounding the alarm about the carrier's crew scheduling technology and "outdated" operational processes for years. The committee had asked Jordan to testify but Southwest said the hearing conflicted with other commitments, including an employee rally in Baltimore on Wednesday.

☆ Southwest CEO Jordan finds himself in eye of storm after airline's holiday debacle
▼ + stars: | 2023-02-08 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +6 min

CHICAGO, Feb 8 (Reuters) - Bob Jordan, Southwest Airlines Co's (LUV.N) CEO, faces the biggest challenge yet in his 35-year career at the airline that has built a customer-friendly reputation. Southwest's struggles reached a notable low on Jan. 28 when comedy sketch TV show "Saturday Night Live" lampooned the Dallas-based airline's technology and service. The carrier will now answer to U.S. Congress on Thursday when Chief Operating Officer Andrew Watterson testifies before the Senate Commerce Committee. In October, Jordan, who started his career at Southwest in 1988 as a computer programmer, put Watterson in charge of the airline's operations. Last week, Jordan also named a chief information officer who will help manage the airline's technology investments, upgrades and system maintenance.

☆ Potanin says sanctions constrain Nornickel, force it to adjust strategy
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +3 min

[1/2] President and Chairman of the Board of MMC Norilsk Nickel Vladimir Potanin attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim ShemetovJan 23 (Reuters) - Nornickel boss Vladimir Potanin, one of Russia’s richest men, said on Monday that the metals giant was reworking its strategy and building closer ties with countries such as China, Turkey and Morocco because of Western sanctions on the Russian economy. We have to deal with all this," added Potanin, who is Nornickel's (GMKN.MM) chief executive and biggest shareholder, owning 36% through his Interros holding group. Potanin reiterated the view he stated soon after the war began, that Russia should not respond to sanctions by confiscating or nationalising Western assets. Potanin was placed on a U.S. sanctions list last month as part of wider measures targeting people and businesses close to President Vladimir Putin.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Reinsurers cut Russia, Ukraine from policies on Jan 1 -broker
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 3 (Reuters) - Reinsurers are excluding Russia, Ukraine and Belarus from policies offered to their insurance clients and cutting back their exposure to U.S. hurricanes, a report from reinsurance broker Gallagher Re (AJG.N) showed on Tuesday. Reinsurers insure insurers and Jan. 1 is the most important date in the calendar for policy renewals. Some insurers have already backed away from providing cover in Russia, Ukraine and Belarus due to risk of sanctions or of steep losses. Without reinsurance, insurers are likely to be even more reluctant to provide cover for Russia or Ukraine, industry sources say. Aviation reinsurance rates rose by as much as 200% on Jan. 1 for some types of business, Gallagher Re said.

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