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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. and India remain our most important markets: Indian pharmaceutical company LupinRamesh Swaminathan, global CFO and executive director of Lupin, discusses the company's earnings report.
Persons: Lupin Ramesh Swaminathan, Lupin Locations: India
Today's energy grids are unable to keep up with the intense demand being heaped upon them. Globally, energy projects struggle to overcome permitting hurdles. Making smart grids a realityData was transmitted across a national energy grid for the first time in 2016. Startups selling them are hoping to alleviate pressure from physical grid infrastructure and allow operators to do more with the infrastructure they have. Victoria McIvor, an advisor to energy startups who was formerly an investor at the European climatetech firm World Fund, imagines a future where energy tariffs dictate when energy-intensive appliances run.
Persons: Rajesh Swaminathan, it's, Andrés Dancausa, Dancausa, Swaminathan, Victoria McIvor, Timothy Barat, Barat, Duncan Turner, SOSV, Turner, McIvor Organizations: Infrastructure, Service, International Energy Agency, Paris, Investors, Khosla Ventures, US Department of Energy, Fund, Octopus Energy, Continuum Industries, Software Locations: Europe, Ukraine, Portuguese, Amsterdam, California, London, VCs, Scottish
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in for a period of secular growth, says Indian pharmaceutical firmRamesh Swaminathan of Lupin discusses its product pipeline and U.S. sales forecast.
Persons: Ramesh Swaminathan, Lupin
The world also said goodbye to former U.S. Secretary of State Henry Kissinger, who died Nov. 29. Political Cartoons View All 1277 ImagesAnother political figure who died this year was former U.S. first lady Rosalynn Carter, who died Nov. 19. Among the entertainers who left the world this year was singer Tina Turner, who died May 24. Here is a roll call of some influential figures who died in 2023 (cause of death cited for younger people, if available):___JANUARY___Fred White, 67. A Hall of Fame forward who helped the Chicago Blackhawks win the 1961 Stanley Cup Final.
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Food in video games is often referred to as a “consumable,” a resource that confers health or another perk on the player. But in Venba, a narrative cooking game, food is something more: It’s something to labor over, to infuse with rich emotions, to savor. In one scene, an immigrant mother cooks a meal for her son, expecting him home from university. Chicken drumsticks simmer in a sticky sauce; a whole fish sizzles in a frying pan; an unctuous golden curry bubbles. Despite Venba’s three-year development phase, this scene of prepared-yet-uneaten food made it into the final game essentially untouched.
Persons: Abhi Swaminathan, , Sam Elkana, amma ” Locations: Venba, Canada, Toronto, India
Spiritus has built a novel approach to direct air carbon capture that relies on a material that absorbs carbon dioxide passively. When the lung-like "fruit" have been collected from the carbon "orchard," they will be put in a container, where low heat will be applied to remove the carbon dioxide. That's important because while carbon dioxide levels in the atmosphere are at record high levels, carbon dioxide is still diluted and makes up a relatively small percentage of the air. That third component — economical — is critical in the direct air carbon capture field, and is part of what drew Khosla Ventures to make its first direct air capture investment in Spiritus. "We're able to remove about 1,000 times more carbon dioxide than a forest can.
Persons: Charles Cadieu, Matt Lee, Spiritus, Lee, Lee hadn't, Cadieu, Melinda Gates, she's, Leonardo da Vinci, We've, Rajesh Swaminathan, Swaminathan, what's Organizations: Silicon, Khosla Ventures, Page One Ventures, CNBC, Los Alamos National Lab, Lawrence Livermore National Laboratory, Melinda Gates Foundation, GE Healthcare, Yahoo, Ventures, U.S . Department of Energy Locations: Western U.S, Spiritus
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's been secular growth across all our markets, says Indian pharmaceutical companyRamesh Swaminathan of Lupin says there was growth in markets such as the EU and Australia.
Persons: Ramesh Swaminathan, Lupin Organizations: EU Locations: Australia
The social media platform Twitter rebranded to X, Elon Musk announced last week. It's been a whirlwind week for Twitter, or X — whatever you decide to call it now. But Elon Musk, long obsessed with the idea of a brand named X, trudged on in the face of disapproval from users. He said that the risky move could inject newfound excitement and interest into the social media company. "I would never bet against Elon Musk," Carr said.
Persons: Elon Musk, it's, It's, Jenn Takahashi, Takahashi, Musk, , she'll, Mike Carr, Carr, Twitter —, CivicScience, Vanitha, Swaminathan Organizations: Twitter, X, San, Takahashi PR, Bloomberg, New York Times, Elon, Center, Branding, University of Pittsburgh Locations: San Francisco
Experts say the boycotts work thanks to the culture wars and panic-stoking online and in the media. Bud Light was the target of social-media outcry in April after it partnered with the trans influencer and TikTok star Dylan Mulvaney. Bud Light owner Anheuser-Busch said that several of its facilities had received threats following the weeks of backlash against its brands. Like Bud Light, Nike also partnered with Mulvaney, but that outrage cycle seemed to blow over quickly. "Well, you know what, the next company is gonna say, 'We don't want to be Bud Light or Target.
Persons: , Bud Light, Dylan Mulvaney, Disney, Ron DeSantis, Joe Raedle, Lawrence Glickman, Glickman, Bud, Busch, Brian Cornell, Scott Olson, Vanitha Swaminathan, Republican Sen, Ted Cruz, Cruz, Ari Drennen, Drennen Organizations: Service, Target, Florida Gov, American Studies, Cornell University, Consumer, Bud Light, Anheuser, Survey, Carey School of Business, Arizona State University, Cornell, Nike, Mulvaney, Katz, Branding, University of, Republican, Disney, Media Matters Locations: Target, America, Patagonia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSecular inflation has run across industries and we aren't immune, says pharmaceutical companyRamesh Swaminathan of Lupin discusses the company's quarterly results and says "gross margins could have been better but for this inflation factor."
April 19 (Reuters) - Australian financial services firm AMP Ltd (AMP.AX) said on Wednesday net cash outflows for its flagship Australian wealth management business were 30% lower in the March quarter, while the banking unit's credit quality remained strong. The company also said momentum in loan applications was improving, despite higher interest rates in the country. "While economic conditions have become more difficult for some borrowers, AMP Bank's credit quality remains strong," the company said. The flagship Australian wealth management business saw net cash outflows of about A$606 million ($407.84 million) for the quarter ended March 31, compared with A$873 million of outflows a year ago. ($1 = 1.4859 Australian dollars)Reporting by Harshita Swaminathan; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
There is also a so-called "greenshoe" option to sell another 73 million shares that could raise an extra $122 million, according to the filings. Baijiu is considered China's national liquor and is the world's most consumed liquor, according to ZJLD's prospectus. Its market share in China is greater than wine's market share in France and beer's market share in the U.S., according to its documents. KKR owns a 16.2% stake in the company, which would fall to 13.8% after the IPO, Hong Kong's largest since Chinese lithium battery maker CALB Group Co (3931.HK) raised $1.3 billion in October. ($1 = 7.8493 Hong Kong dollars)Reporting by Harshita Swaminathan; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.
March 20 (Reuters) - Australian fintech firm Latitude Group Holdings Ltd (LFS.AX) said on Monday it had taken its platforms offline as the cyberattack detected last week remained active, adding the Federal Police was investigating the incident. Last week, the firm said personal information, mostly drivers' licence copies or licence numbers, of about 330,000 customers and applicants was stolen. Latitude said the Australian Federal Police and the Australian Cyber Security Centre were looking into the attack. Latitude shares have not traded since March 15, a day before the company first disclosed the cyberattack. Reporting by Harshita Swaminathan and Himanshi Akhand in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
The Food and Drug Administration's independent panel of advisors recommended full approval of Pfizer's Covid-19 antiviral pill Paxlovid for high-risk adults 16-1 on Thursday, but flagged potentially harmful drug interactions. The FDA first made Paxlovid available in December 2021 for emergency use in high-risk individuals ages 12 and up. More than half of Paxlovid-eligible Medicare and Veterans Affairs patients are on medications that have drug interactions with Paxlovid, according to an FDA review of safety surveillance data. Roughly 74% of Paxlovid prescriptions were from adult primary care practitioners who may not be experienced with managing the possible adverse drug interactions, the FDA review added. To complete a full course of the drug, patients must take three Paxlovid pills twice a day for five days.
Bearish bets intensified on nearly all Asian currencies, with short bets on the South Korean won and the Chinese yuan reaching their highest since November, according to a fortnightly poll of 12 analysts. Short bets on the won were the highest among Asian currencies for the second week in a row. However, the Indian rupee , already the best performing currency in Asia so far this year, bucked the bearish trend as investors dialled back their short bets. Short bets on the ringgit rose slightly. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.
LONDON, Feb 22 (Reuters) - Rio Tinto (RIO.AX), (RIO.L) posted a 38% drop in annual profit and more than halved its dividend on Wednesday, hurt by weaker iron ore prices as demand from China slowed, while higher labour and material costs also ate into earnings. Strict COVID-19 curbs in top steel producer China curtailed economic activity last year, dragging down iron ore prices from lofty levels a year earlier. The world's top iron ore producer said China consumption showed signs of rebounding and commodity prices had found support in recent months, although the economy remained volatile. Rio Tinto last year earned an average realised price of just $106.10 per dry metric tonne (dmt) of iron ore, down from $143.80 per dmt in 2021. Rio Tinto reported underlying earnings of $13.3 billion for 2022, compared with a record $21.4 billion in 2021.
Cyclone death toll in New Zealand rises to nine as recovery continues, article with videoAsia Pacific category · February 18, 2023The death toll from Cyclone Gabrielle in New Zealand rose to nine on Saturday as the clean-up continued on the battered North Island and authorities worked to find missing people.
Jan 30 (Reuters) - Chinese copper miner MMG Ltd (1208.HK) said on Monday its Las Bambas mine in Peru would likely have to halt production from Feb. 1 due to a shortage of "critical supplies" leading to a slowdown of operations. The Melbourne-headquartered miner said the shortage of supplies was due to transport disruptions from protests in Peru. Peru, the world's second-largest copper producer, has been gripped by growing unrest following weeks of sometimes violent anti-government protests triggered by the ouster of the country's former president last month. Glencore (GLEN.L) suspended operations at its Antapaccay copper mine on Jan. 20 after protestors attacked the premises for a third time. A source at MMG had told Reuters production would continue as long as there was a stock of supplies, but MMG said on Monday that supplies were running low.
Origin Energy gives suitor Brookfield more time to review books
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +1 min
Jan 17 (Reuters) - Australia's Origin Energy (ORG.AX) has extended the exclusivity period for a Brookfield-led consortium to finalise its A$15.5 billion ($10.81 billion) buyout bid, the power producer said on Tuesday. The exclusivity period has been extended to Jan. 24, upon the consortium's request, Origin said. Origin Energy did not specify a reason for the extension, which sparked concern about the fate of the bid. Its shares fell as much as 3.7% to a low of A$7.37, well below the proposed offer price of A$9 a share. Origin said in November it would back the proposed offer if it went ahead.
Rio Tinto sees increased volatility as China reopens
  + stars: | 2023-01-16 | by ( ) www.reuters.com   time to read: +3 min
MELBOURNE, Jan 17 (Reuters) - Rio Tinto (RIO.AX) on Tuesday said that China's reopening from COVID-19 restrictions is set to raise near-term risks of labour and supply-chain shortages, while it also flagged a strong start to iron ore shipments for 2023. Rio looks set to retain its crown as the world's biggest iron ore producer as quarterly iron ore shipments came in slightly ahead of expectations, near the bottom of the year's guidance. "It's good to see they made their iron ore guidance. Iron ore shipments for the final quarter of 2022 rose 3.8% to 87.3 million tonnes (Mt), bringing full-year shipments to 321.6 Mt, which beat a Visible Alpha consensus estimate of 320.2 Mt. Rio Tinto maintained its full-year iron ore shipments forecast of 320 Mt to 335 Mt.
Companies Sun Cable FollowMELBOURNE, Jan 11 (Reuters) - The developer of a $21-billion project aiming to deliver solar power to Singapore from Australia has collapsed as its two main backers, Australian billionaires Mike Cannon-Brookes and Andrew Forrest, failed to agree on a new round of funding. Singapore-based Sun Cable said it had appointed voluntary administrators less than a year after raising A$210 million from the two billionaires for the Australia-Asia PowerLink project. Tech billionaire and climate activist Cannon-Brookes, who became chairman of Sun Cable in October, said he remained confident in the project. The statement offered no comment from iron ore magnate Andrew Forrest's privately owned Squadron Energy, Sun Cable's other big stakeholder. Future steps are likely to involve voluntary administrators FTI Consulting seeking fresh capital or selling the business entirely, Sun Cable said.
2023 is set to bring even more momentum to the electric-car industry than 2022 did. Even with challenges — and some executives' losing faith in the EV biz — the industry can't turn back on its ambitions. Robert Knopes/UCG/Universal Images Group via Getty ImagesCharging, charging, chargingHistorically, charging hasn't been a money-making venture. Alexei Andreev, a managing director at AutoTech Ventures, said a shakeout could come in the battery industry, where hundreds of startups are racing to compete with giants. The autonomous-vehicle industry took several hits in 2022, but General Motors is still optimistic about Cruise.
[1/2] The logo of Australia's Fortescue Metals Group (FMG) can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. REUTERS/Melanie Burton/File PhotoNov 29 (Reuters) - Australia's Fortescue Metals Group (FMG.AX) on Tuesday appointed former Woodside Energy (WDS.AX) executive Fiona Hick as its chief executive officer, effective February 2023, as Elizabeth Gaines made way for a new boss in August. Hick joins Fortescue at a time when the iron ore giant is delving into mining of critical minerals and rare-earths and is also striving to transition into a green energy firm through its unit Fortescue Future Industries (FFI). She will lead Fortescue Metals' mining arm, culminating a year-long search by the company's billionaire-founder and chairman Andrew Forrest. Gaines, who oversaw a tripling in the share price of one of the world's biggest iron ore miners in the past four years, remains on Fortescue's board as a non-executive director.
Private investment in India was constrained for years by heavy indebtedness of companies and banks and by weak demand. SBI expects its stock of corporate loans to rise by between 14% and 15% this year and by 12% a year on average in 2023 and 2024. read moreAcross India's banking sector, lending has been rising steadily. Muralikrishna, chief general manager for large corporate lending at Bank of Baroda (BOB.NS), India's second-largest state-owned lender. Dixon Technologies (DIXO.NS), an electronics manufacturer with annual revenue of about 150 billion rupees ($1.85 billion), will receive incentives under the scheme for setting up facilities in five sectors, including electronics. Already, October exports were lower than a year earlier, and Nomura economists cautioned in a note this week that India's investment cycles were closely linked to its export cycles.
LONDON/GENEVA, Nov 15 (Reuters) - The chief scientist of the World Health Organization said on Tuesday she was leaving the agency, the first of a series of high-profile departures expected at the global health body as it prepares for a post-pandemic future. The exit of Soumya Swaminathan, an Indian pediatrician, announced on Twitter, comes as Director-General Tedros Adhanom Ghebreyesus's second term as leader of the 74-year-old U.N. agency gets underway. Tedros, who began his second term in August, has given no reasons for any broader reshuffle, and some of the staff are retiring. Diplomats say that some donors have also privately suggested reforms to streamline Tedros' 18-member leadership team based in the Geneva headquarters. It is leading efforts to battle two other global health emergencies - monkeypox and polio - and seeking to advance an ambitious reform agenda to update global health rules.
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