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☆ India bus fire kills 25 - ANI
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: 1 min

July 1 (Reuters) - Twenty five people died and about eight people were injured after a bus travelling in India's Maharashtra state caught fire, India's ANI News Agency reported early on Saturday. The bus, travelling from Yavatmal to Pune, was carrying 32 people, the report said. Reporting by Rahat Sandhu in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Rahat Sandhu, William Mallard Organizations: Agency, Thomson Locations: India's Maharashtra, Yavatmal, Pune, Bengaluru

☆ Binance's European banking partner Paysafe to withdraw support
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Binance's European banking partner Paysafe Payment Solutions said on Thursday it will cease offering its embedded wallet solution to the U.S. cryptocurrency exchange across the European Economic Area (EEA) from Sept. 25. "Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months," Paysafe said in a email to Reuters. Binance will be changing the provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA), while the current partner — Paysafe — will no longer be providing these services to Binance users, CoinDesk reported on Wednesday. Binance typically accesses SEPA via payment intermediaries. Binance tied up with Paysafe last year to allow its users to deposit sterling via Faster Payments, a network that oversees payments and bank account transfers in Britain.

Persons: Paysafe, — Paysafe, CoinDesk, Binance, Rishabh, Rahat Sandhu, Yana Gaur, Sherry Jacob, Phillips, Jason Neely Organizations: European Economic, Reuters, U.S, Securities and Exchange Commission, Thomson Locations: Britain, Bengaluru

☆ IBM nears $5 billion deal for software provider Apptio, Wall Street Journal reports
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - IBM (IBM.N) is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM. The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion. Reporting by Rahat Sandhu in Bengaluru; Editing by Sandra Maler, Diane Craft and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Apptio, Rahat Sandhu, Sandra Maler, Diane Craft, William Mallard Organizations: IBM, Wall Street, Vista Equity Partners, Hat, Thomson Locations: Bengaluru

☆ IBM nears $5 billion deal for software provider Apptio - WSJ
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: 1 min

Persons: Rahat Sandhu, Sandra Maler Organizations: IBM, Wall Street, Thomson Locations: Bengaluru

☆ Activist investor Elliott seeks ouster of NRG CEO - WSJ
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Activist investor Elliott Investment Management is increasing pressure on NRG Energy (NRG.N) and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Elliott is in talks with potential candidates to replace the U.S. power company's CEO as well as other top executives, the report said. In a statement to Reuters, an NRG spokesperson said that the company's board "fully supports NRG's CEO Mauricio Gutierrez and management team," adding that the company will be discussing its strategic plan with shareholders at its investor day. The report comes after Elliott sent a letter to NRG's board last month, pushing for a boardroom overhaul. The activist investor had urged the company to conduct a review of its home services strategy and add new independent directors.

Persons: Mauricio Gutierrez, Elliott, Rahat Sandhu, Rishabh Jaiswal, Krishna Chandra Eluri, Maju Samuel, Subhranshu Organizations: Investment Management, NRG Energy, Wall Street, Reuters, NRG, Elliott Investment, Thomson Locations: U.S, Bengaluru

☆ HSBC, StanChart face pressure from Hong Kong to take on crypto clients - FT
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

[1/3] An attendant walks outside the entrance to Hong Kong Monetary Authority in Hong Kong, China November 10, 2015. REUTERS/Bobby YipJune 15 (Reuters) - HSBC (HSBA.L) and Standard Chartered (STAN.L) are among lenders facing pressure from Hong Kong's banking regulator to take on crypto exchanges as clients, the Financial Times reported on Thursday, citing three people with knowledge of the matter. The UK-based lenders and the Bank of China were questioned by the Hong Kong Monetary Authority (HKMA) last month on why crypto exchanges were not being accepted as clients, according to the report. HSBC, Standard Chartered and the HKMA did not immediately respond to a Reuters request for comments. The HKMA, in a letter to lenders on April 27, said diligence on potential customers should not "create undue burden", especially "for those setting up an office in Hong Kong," the FT report said.

Persons: Bobby Yip, Hong Kong's, Rahat Sandhu, Rashmi Aich, Sherry Jacob, Phillips Organizations: Hong Kong Monetary Authority, REUTERS, HSBC, Standard Chartered, Financial Times, Bank of, U.S, Securities and Exchange Commission, Thomson Locations: Hong Kong, China, Hong, Bank of China, Bengaluru

☆ Logitech says CEO stepping down, to leave company
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - Logitech SA (LOGN.S) said on Tuesday that Chief Executive Officer and President Bracken Darrell is resigning from his role effective immediately and will be leaving the company to pursue another opportunity. Darrell, who assumed the role of Logitech's CEO in 2013, will remain with the company over the coming month to facilitate the transition while a search for a replacement is conducted, the statement said. Meanwhile, board member Guy Getch will step in as interim CEO, the company said. "I feel this is a good point to hand over leadership," Darrell said, adding that he will remain a "customer, shareholder and fan" of the Swiss-American tech company. Reporting by Rahat Sandhu in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Bracken Darrell, Darrell, Guy Getch, Rahat Sandhu, Pooja Desai Organizations: Logitech SA, Logitech, Swiss, Thomson Locations: American, Bengaluru

☆ Binance.US suspends USD deposits, pausing fiat withdrawal channels
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: 1 min

June 8 (Reuters) - Binance.US said on Thursday the company is suspending USD deposits while notifying customers that their banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13. The move comes as the U.S. financial regulators supported a freeze on Binance's assets earlier in the day. The U.S. Securities and Exchange Commission's take on cryptocurrency is "extremely aggressive and intimidating, Binance.US said in a tweet, adding that it has created challenges between the exchange and its banking partners. loadingTrading, staking, deposits and withdrawals in crypto would remain fully operational, Binance.US said in a notice to its customers. Reporting by Rahat Sandhu in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance.US, Rahat Sandhu, Dhanya Ann Thoppil Organizations: U.S . Securities, Exchange, Thomson Locations: Bengaluru

☆ Netflix co-CEO Ted Sarandos to visit S.Korea this month - Yonhap
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Netflix Inc's (NFLX.O) co-Chief Executive Officer Ted Sarandos is planning a two-day visit to South Korea from June 20 to meet Prime Minister Han Duck-soo and other key officials, Yonhap News Agency reported on Wednesday. Sarandos' decision to visit comes about two months after the U.S. streaming service announced its plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows. Sarandos met South Korean President Yoon Suk Yeol in Washington in April, catering to international success enjoyed by South Korea's entertainment industry in recent years. Known as the "Korean Wave" or Hallyu, the country's entertainment industry has enjoyed a global boom in recent years. Reporting by Rahat Sandhu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ted Sarandos, Han Duck, Sarandos, Yoon Suk, Rahat Sandhu, Sherry Jacob, Phillips Organizations: Netflix, Yonhap News Agency, Reuters, South, Thomson Locations: South Korea, U.S, Washington, Bengaluru

☆ Meta to test limiting some news access on Facebook, Instagram in Canada
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Meta Platforms Inc (META.O) on Thursday said it will begin tests on its social media websites Facebook and Instagram that will limit some users and publishers from viewing or sharing some news content in Canada. The testing period will run for several weeks, the social media giant said, adding that the minor percentage of Canadian users enrolled in testing will be notified if they attempt to share news content. The test comes in response to Canada's proposed "Online News Act". "When a big tech company... tells us, 'If you don't do this or that, then I’m pulling the plug' – that’s a threat. Google rolled out similar tests earlier this year blocking news content for some Canadian users as a test run for a potential response to the online news bill.

Persons: Canada's, Meta, Pablo Rodriguez, I’ve, Rodriguez, Rahat Sandhu, Mrinmay Dey, Steve Scherer, Janane Organizations: Inc, Facebook, Canadian Heritage, Reuters, Google, Thomson Locations: Canada, Bengaluru

[1/2] U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services' sex offender registry March 28, 2017 and obtained by Reuters July 10,... Read moreCompanies Deutsche Bank AG FollowMay 17 (Reuters) - Deutsche Bank AG (DBKGn.DE) has agreed to pay $75 million to settle a proposed class-action lawsuit alleging the lender facilitated the late Jeffrey Epstein's sex-trafficking ring, the Wall Street Journal reported late on Wednesday, citing lawyers who sued the bank on behalf of alleged victims. The suit was filed last year in New York by an anonymous woman on behalf of herself and other accusers, alleging Deutsche Bank did business with Epstein for five years knowing he was engaged in sex-trafficking activity, the report said. Deutsche Bank did not immediately reply to a Reuters' request for comment. Reporting by Rahat Sandhu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

[1/2] Co-Founders of VICE Shane Smith (L) and Suroosh Alvi (R) pose as they arrive for the 20th Annual Webby Awards in Manhattan, New York, U.S., May 16, 2016. REUTERS/Mike SegarMay 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. Vice listed both assets and liabilities in the range of $500 million to $1 billion. Vice was among a group of fast-rising digital media ventures that once had rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder Shane Smith, who built his media empire from a single Canadian magazine.

☆ US DOJ to crackdown on crypto exchanges, NCET director says - FT
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

May 15 (Reuters) - The U.S. cryptocurrency enforcement tsar has said that the country was stepping up scrutiny of crypto exchanges to target illicit behavior on the platforms, the Financial Times reported on Monday. "And so we hope that by focusing on those types of platforms, we’re going to have a multiplier effect." The DOJ in March charged Vietnamese national Minh Quoc Nguyen with money laundering and identity theft in connection with crypto platform ChipMixer's operations, claiming that Nguyen openly flouted financial regulations. The NCET director, without naming any specific entity, said that a company's size "is not something that the department will countenance" while weighing potential charges. Reporting by Rahat Sandhu in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Vice Media files for Chapter 11 bankruptcy to facilitate sale
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

May 15 (Reuters) - Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale to a group of lenders, capping years of financial difficulties and top-executive departures. The company listed both assets and liabilities in the range of $500 million to $1 billion, according to a court filing. Vice was among a group of fast-rising digital media ventures that once commanded rich valuations as they courted millennial audiences. It rose to prominence alongside its co-founder, Shane Smith, who built his media empire from a single Canadian magazine. In April, the company said it would cancel popular TV program "Vice News Tonight" as part of a broader restructuring that would result in job cuts across the digital media firm's global news business.

☆ UBS chief draws up Credit Suisse leadership shortlist, FT reports
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

May 6 (Reuters) - UBS Group AG's (UBSG.S) Chief Executive Sergio Ermotti has shortlisted the Credit Suisse Group AG's (CSGN.S) executives most likely to become part of the management team, the Financial times reported on Saturday, citing people familiar with the plans. Dixit Joshi, chief financial officer, Francesca McDonagh, chief operating officer, and André Helfenstein, head of the Swiss business, are most likely to remain a part of the Swiss bank's executive team, the report said. Credit Suisse declined to comment on the report. UBS did not immediately respond to Reuters' request for a comment. ($1 = 0.8910 Swiss francs)Reporting by Rahat Sandhu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ UBS chief draws up Credit Suisse leadership shortlist, FT says
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

☆ India's Go First cancels flights until May 12
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: 1 min

May 5 (Reuters) - Indian airline Go First said on Friday it is cancelling its flights until May 12, days after the cash-strapped company filed for bankruptcy. Earlier on Tuesday, the airline blamed "faulty" Pratt & Whitney GTF engines for the grounding of about half its fleet leading to the bankruptcy filing. read moreThe owner of Go Airlines has no plans to exit the budget carrier, the airline's CEO told Reuters on Wednesday. read moreGo First, formerly known as GoAir, had abruptly cancelled its flights since the bankruptcy filing, earlier cancelling flights scheduled from May 3 to May 5, before announcing on Thursday that flights had been suspended until May 9. Reporting by Rahat Sandhu in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Ineos's bid values Manchester United at more than 5 billion pounds, the Times reports
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: 1 min

April 29 (Reuters) - Jim Ratcliffe's Ineos has outbid a Qatari group led by Sheikh Jassim bin Hamad al-Thani in the battle to buy Manchester United (MANU.N), The Times reported on Saturday, citing sources. Ineos is the only bidder to have valued the club higher than 5 billion pounds ($6.29 billion), the report added. ($1 = 0.7954 pounds)(This story has been corrected to fix the bid value in the headline and tense in paragraph 1)Reporting by Rahat Sandhu in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Indian news outlets ANI, NDTV say their Twitter accounts were suspended
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: 1 min

April 29 (Reuters) - Indian broadcaster NDTV and the country's ANI news agency both said on Saturday their main Twitter accounts had been suspended. Searches on Twitter for NDTV's English service account @NDTV and the @ANI handle both produced the message "This account doesn’t exist. Try searching for another." Their other accounts appeared to be functional. Reporting by Rahat Sandhu in Bengaluru; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Germany may restrict export of chip chemicals to China - Bloomberg
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

April 27 (Reuters) - Germany may limit the export of chemicals to China that are used to manufacture semiconductors as part of the government's efforts to reduce its economic exposure to the Asian economic superpower, Bloomberg news reported on Thursday. It would be the latest in steps under consideration by Germany as it reassesses ties with China. Merck KGaA (MRCG.DE) and BASF (BASFn.DE), two German chemicals majors who could be affected by the export curbs if implemented, declined comment. German Economy Minister Robert Habeck had in March suggested that Berlin could impose export restrictions to China to prevent Germany from losing its technological edge. "Export controls with regard to technology must be constantly checked, constantly expanded and constantly updated," a government spokesperson added at the time.

☆ Spotify back up for most users after global outage
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Audio streaming platform Spotify (SPOT.N) was back up for most users, the company said on Wednesday, after a brief outage that disrupted service for tens of thousands of users globally. The company did not disclose the number of users affected by the disruption, but outage tracking website Downdetector.com showed more than 20,000 incidents in the United States and over 8,000 in the UK at the peak of the outage. "Everything's looking much better now!," Spotify Status said in a tweet. Many users took to Twitter to share updates and memes about the service disruption, with 'Spotify' trending at number seven in the U.S. In January, Downdetector reported that the audio streaming platform's outage impacted over 45,000 users in the United States.

☆ Sega nears deal to acquire Angry Birds maker Rovio for $1 billion, Wall Street Journal reports
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: 1 min

April 14 (Reuters) - Japan's Sega Sammy Holdings Inc (6460.T) is nearing a deal to acquire Rovio Entertainment (ROVIO.HE), the company behind the 'Angry Birds' mobile game, for about $1 billion, the Wall Street Journal reported on Friday. Tokyo-based Sega could finalize the deal to complete the acquisition of Rovio by early next week, the report said citing people familiar with the matter. Israeli peer Playtika (8II.F), had made a preliminary bid in January to buy Rovio for 683 million euros ($750.96 million), but the Angry Birds maker confirmed last month talks had ended. Rovio and Sega did not immediately respond to Reuters' requests for comment. ($1 = 0.9095 euros)Reporting by Rahat Sandhu in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. banks that shored up First Republic pushed to boost reserves - Bloomberg News
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Several major U.S. banks who contributed a significant portion of the $30 billion in deposits to aid First Republic Bank (FRC.N) last month, are now planning to bolster their reserves by setting aside around $100 million each, Bloomberg reported. Banks' decision to strengthen their reserves is driven by accounting regulations that require provisions to be set aside for potential losses across various assets, the report addded. First Republic, Citi Bank and JPMorgan declined to comment on the report. Bank of America and Wells Fargo did not immediately respond to Reuters' requests for a comment. Eleven lenders, including the eight members of the Financial Services Forum, threw First Republic a lifeline of a combined $30 billion in deposits last month.

April 11 (Reuters) - Banks that contributed the bulk of $30 billion in deposits to First Republic Bank (FRC.N) plan to set aside about $100 million each in first-quarter earnings in case of potential losses, two sources with direct knowledge of the matter said. The sources declined to be identified because of the sensitivity of the situation. The banks declined to comment. The four largest U.S. banks were among a group of 11 lenders that bolstered First Republic after its shares plunged during the crisis triggered by the collapse of Silicon Valley Bank and Signature Bank. Major U.S. banks will begin reporting first-quarter earnings from Friday.

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