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☆ Uber stock pops more than 10% on $7 billion share buyback
▼ + stars: | 2024-02-14 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company's initial public offering on the floor of the New York Stock Exchange, May 10, 2019. Uber 's stock spiked more than 10% Wednesday morning after the ride-sharing company announced it will buy back up to $7 billion worth of company shares. "Today's authorization of our first-ever share repurchase program is a vote of confidence in the company's strong financial momentum," Uber CFO Prashanth Mahendra-Rajah said in a press release Wednesday morning. Mahendra-Rajah added that Uber "will be thoughtful as it relates to the pace of our buyback, beginning with actions that partially offset stock-based compensation, and working towards a consistent reduction in share count." The buyback news comes a week after Uber reported fourth-quarter results that beat Wall Street's earnings and revenue estimates.

Persons: Dara Khosrowshahi, Uber, Prashanth Mahendra, Rajah, Mahendra Organizations: Uber Technologies, New York Stock Exchange, CNBC

☆ Uber unveils $7 billion share buyback after first profitable year
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: +1 min

A banner announcing the IPO of Uber Technologies hangs outside the New York Stock Exchange, May 10, 2019. Uber Technologies said on Wednesday it will buy back up to $7 billion worth of company shares after a strong recovery in ride-share and healthy demand at its food delivery business. "Today's authorization of our first-ever share repurchase program is a vote of confidence in the company's strong financial momentum," Uber CFO Prashanth Mahendra-Rajah said. Over the next three years Uber expects gross bookings growth in the mid to high teens percentage and adjusted core profit growth in the high 30s to 40%. Uber had a free cash flow of $3.4 billion in 2023, up from $390 million a year earlier.

Persons: Prashanth Mahendra, Rajah, Uber Organizations: Uber Technologies, New York Stock Exchange

☆ India out to end decade of hurt at home World Cup
▼ + stars: | 2023-10-01 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

India won the Asia Cup last month, beating former world champions Pakistan and Sri Lanka at the tournament, and have all their frontline players available after welcoming back Jasprit Bumrah, KL Rahul and Shreyas Iyer from injury. Rohit has spoken frequently about his desire to win a global title and even as firecrackers were going off in Colombo after the Asia Cup final the opener told fans to put their celebrations on hold until they win the World Cup. HOME ADVANTAGEHome comforts could prove crucial at the World Cup. Kohli may not get another chance to win the World Cup as he will be almost 39 by the time the next edition rolls in 2027. Perched on his team mates' shoulders on a victory lap of the world's largest cricket stadium after the Oct. 19 final would be a fitting World Cup farewell for another Indian batting great.

Persons: Rohit Sharma, Shreyas Iyer, Rohit, Shubman Gill, Virat Kohli, Ishan Kishan, Suryakumar Yadav, Bumrah, wristspinner, Pandya, Kohli, Mahendra Singh, Sachin Tendulkar, Amlan Chakraborty, Peter Rutherford Organizations: India, Asia, Pakistan, Australia, Thomson Locations: DELHI, India, Sri Lanka, Colombo, Mumbai, New Delhi

☆ Uber names semiconductor executive Mahendra-Rajah as CFO
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Uber is seen in the Alpine resort of Davos, Switzerland, January 20, 2023. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsSept 27 (Reuters) - Uber Technologies (UBER.N) on Wednesday named Analog Devices (ADI.O) CFO Prashanth Mahendra-Rajah as its finance chief at a time when the ride-hailing company is gearing up for growing competition in the industry. At semiconductor firm Analog Devices, Mahendra-Rajah oversaw the roughly $21-billion acquisition of rival Maxim Integrated Products. Mahendra-Rajah was previously the CFO at vehicle technologies supplier WABCO Holdings and has held other financial leadership roles at Applied Materials (AMAT.O), Visa (V.N) and United Technologies. Still, with more than $1 billion in free cash flow in the second quarter, Uber said it was increasingly considering share repurchases and shareholder dividends.

Persons: Arnd, Prashanth Mahendra, Rajah, Mahendra, Nelson Chai, Uber, Deborah Sophia, Shounak Dasgupta Organizations: REUTERS, Technologies, Devices, Maxim Integrated Products, WABCO Holdings, Materials, Visa, United Technologies, Los Angeles Yellow Cab, Thomson Locations: Davos, Switzerland, San Francisco, Nelson, Europe, Asia, Bengaluru

☆ Pathirana comes up trumps for Sri Lanka at Asia Cup
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

Sept 1 (Reuters) - Mahendra Singh Dhoni is known to have a keen eye for talent and the match-winning display by Sri Lanka pacer Matheesha Pathirana against Bangladesh at the Asia Cup on Thursday shows the former India captain's reputation is well earned. His Chennai Super Kings (CSK) captain Dhoni predicted in May the 20-year-old would prove a "great asset" for Sri Lanka provided he was used sparingly and only in key white-ball tournaments. Vindicating his Chennai captain, Pathirana claimed a career-best 4-32 to rout Bangladesh and set up Sri Lanka's five-wicket victory with 11 overs to spare at Pallekele. "I think this performance has been coming for a while now," Sri Lanka coach Chris Silverwood told reporters. "Easy to see why Sri Lanka Cricket, CSK and MS Dhoni are valuing Matheesha Pathirana so highly," former West Indies bowler Ian Bishop wrote on X, the social platform formerly known as Twitter.

Persons: Mahendra Singh Dhoni, Pathirana, Lasith Malinga, Dhoni, Chris Silverwood, He's, Shakib Al Hasan, Mushfiqur Rahim, Taskin Ahmed, Mustafizur Rahman, Ian Bishop, Amlan Chakraborty, Peter Rutherford Organizations: Sri Lanka, Asia, Chennai, IPL, World, Sri Lanka Cricket, Thomson Locations: Bangladesh, India, Sri Lanka, Chennai, West Indies, New Delhi

☆ Indonesia's delayed China-funded rail project beset by fresh problems
▼ + stars: | 2023-06-07 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +5 min

[1/2] An electric Multiple Unit high-speed train is seen during Hot Sliding Test in Tegalluar, Bandung, West Java province, Indonesia, May 19, 2023, in this photo taken by Antara Foto. China-backed consortium PT KCIC, Mott MacDonald, Umbra, CDB and China's embassy in Jakarta did not respond immediately to requests for comment. PT KCIC was awarded the project in 2015 after lodging a cheaper proposal than a Japanese rival, with completion expected in 2019. The planned 45-minute train ride between Jakarta and Bandung compares with a car journey of two to three hours or the current three-hour rail trip. Locating the stations in central Jakarta and Bandung would have been too costly, ministry official Seto said.

Persons: Antara, Al Farisi, Joko Widodo, Teuku Rezasyah, Mott MacDonald, Mahendra Vijaya, Hario, PwC, Sutanto Soehodho, Seto, Stefanno Sulaiman, Devjyot Ghoshal, Jamie Freed Organizations: REUTERS, Initiative, Padjadjaran University, Reuters, PT, China Development Bank, CDB, PT KCIC, KCIC, University of Indonesia, Thomson Locations: Tegalluar, Bandung, West Java, Indonesia, REUTERS JAKARTA, China, Jakarta, Indonesian, Southeast Asia's, Independence, PwC, CDB, China's

☆ Indonesia seeks $700 million to install 200 MW of solar power
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +1 min

Companies Perusahaan Listrik Negara (Persero) PT FollowJAKARTA, May 28 (Reuters) - Indonesian state utility Perusahaan Listrik Negara [RIC:RIC:PLNEG.UL] seeks a $700-million investment to install a 200-megawatt (MW) solar panel that will replace diesel power generators in a bid to reduce carbon emission, the company said late on Saturday. PLN has planned to have 4.68 gigawatt (GW) of solar panels installed between 2021 and 2030. The company's director Evy Haryadi said the 200 MW solar panel is the first phase of a longer term plan to replace 1 GW of diesel power plants with solar power. A coalition of countries has pledged $20 billion of public and private financing to help Indonesia transition to cleaner energy under the Just Energy Transition Partnership (JETP). Indonesia aims to finalise a detailed plan for JETP fund allocation by August, according to the head of Indonesia's JETP Secretariat Edo Mahendra, adding that PLN's plan to shift from diesel power to renewables will be a pilot program in JETP.

☆ Indian EV maker denies allegations of misappropriation of incentives
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

The Indian government is reimbursing electric vehicle and hybrid vehicle manufacturers for reducing the purchase price of their vehicles under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) programme. Complaints were made against 12 electric vehicle and parts manufacturers, including Avon Cycles, for violating guidelines under the 100 billion rupees ($1.21 billion) programme, Minister for Heavy Industries Mahendra Nath Pandey told parliament on Tuesday. "We do have two number three wheeler models which qualify under FAME – phase 2 scheme which fully meet the eligibility criteria set by the concerned authorities. Also, the sales volumes of these three wheeler models sold under the stated scheme, so far, have been insignificant." ($1 = 82.8300 Indian rupees)Reporting by Sakshi Dayal; Editing by Sudipto Ganguly and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ 'At least we now know': CFO on UK election outcome
▼ + stars: | 2019-12-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'At least we now know': CFO on UK election outcomeMahendra Negi of Trend Micro discusses the U.K. election outcome. He says, with more certainty on Brexit, companies can be more confident in making business plans.

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