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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. Target(TGT.N) shares advanced 14.2% before the bell as the big-ticket retailer forecast fourth-quarter profit largely above Wall Street expectations on easing supply-chain costs. The upbeat forecast also lifted shares of rival Walmart (WMT.N) up 1.2%. Separately, retail sales are expected to have slipped 0.3% on a month-over-month basis in October after 0.7% increase in September. ET, Dow e-minis were up 114 points, or 0.33%, S&P 500 e-minis were up 18.75 points, or 0.42%, and Nasdaq 100 e-minis were up 93.25 points, or 0.59%.

Persons: Brendan McDermid, Stuart Cole, Joe Biden, Xi Jinping, Biden, JD.com, Warren Buffett's Berkshire Hathaway, Sruthi Shankar, Amruta, Shinjini Ganguli, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Target, Walmart, U.S . Federal, Equiti, Dow e, U.S . House, Senate, Republican, Sirius XM, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. "This is what the Fed was looking for, slowing inflation, slowing labor market and the economy's holding up at the same time." Following the data, traders erased bets the Fed will raise borrowing costs any further and piled into bets on rate cuts starting by May. U.S. Treasury yields dropped, with the two-year yield , which best reflects short-term interest rate expectations, sliding to two-week lows. Advancing issues outnumbered decliners by a 13.89-to-1 ratio on the NYSE and by a 5.44-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Thomas Hayes, Russell, Jerome Powell, Michael Barr, Loretta Mester, Austan Goolsbee, Mike Johnson, Sruthi Shankar, Amruta, Ankika Biswas, Shinjini Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Reuters, May, U.S, Treasury, Nvidia, Banking Committee, Cleveland Fed, Chicago Fed, U.S . House, Dow Jones, Inc, NYSE, Thomson Locations: New York City, U.S, New York, United States, Bengaluru

☆ London stocks slip on sluggish GDP data, Diageo's profit warning
▼ + stars: | 2023-11-10 | by ( Khushi Singh | ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The exporter-focused FTSE 100 (.FTSE) was down 0.9% at 0932 GMT, while the mid-cap FTSE 250 (.FTMC) dropped 2.2%, on track for the biggest one-day fall since early July. The broader beverages index (.FTNMX451010) fell 11.0%, touching the lowest levels since March 2021 and was on track for its biggest one-day decline in over 36 years. Meanwhile, data showed the British economic output failed to grow in the July-to-September period, but at least managed to avoid the start of a recession. Reporting by Khushi Singh in Bengaluru; Editing by Eileen Soreng and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Johnnie Walker, Khushi Singh, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, FTSE, Diageo, Bank of England, Bank of, Victoria, U.S . Federal, Thomson Locations: City, City of London, Britain, America, Caribbean, Bengaluru

☆ Elon Musk biopic rights clinched by A24, Darren Aronofsky to direct - source
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 10 (Reuters) - A biopic on Elon Musk is in the works at New York-based studio A24 with "Black Swan"-filmmaker Darren Aronofsky as the director, according to a source familiar with the matter. A24 secured the rights to Walter Isaacson's biography on the world's richest person, according to the source, who added the Musk biopic will be produced by Aronofsky's production company, Protozoa Pictures. He is one of the best," Musk said in an X post on Friday. The book on Musk was released by private equity firm KKR-owned book publishing powerhouse Simon & Schuster in September. The billionaire bought social media platform X, formerly known as Twitter, last year for $44 billion after a six-month saga.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Darren Aronofsky, Walter Isaacson's, Darren, Musk, Brendan Fraser, Walt Disney, Steve Jobs, Michael Fassbender, Simon, Simon & Schuster, Dawn Chmielewski, Harshita Mary Varghese, Akash Sriram, Shinjini Organizations: Elon, SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Walt, Apple, Universal, KKR, Simon &, Reuters, Boring Company, Thomson Locations: Paris, France, New York, Los Angeles, Bengaluru

☆ Big media rallies as tentative actors' deal paves way for restarting productions
▼ + stars: | 2023-11-09 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) gained 3% each, Netflix (NFLX.O) rose marginally, while Walt Disney (DIS.N) jumped 4%, as it also benefited from strong earnings and a plan to cut more costs. The writers, who had gone on strike before the actors in spring, returned to work in late September, but most productions remained halted as the actors were on picket lines. "Its certainly a very encouraging sign the chasm that opened up between actors, writers and studios can finally be closed and work begin in earnest on re-starting productions," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Streeter warned that "it's going to take considerable time before new movies, in particular, will appear on screens given the lengthy post-production process." Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Streeter, Samrhitha, Shinjini Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Hollywood, Bengaluru

The FDA approved tirzepatide for weight loss under the brand name Zepbound. It has been available as Mounjaro for type 2 diabetes since 2022 and had increasingly been used "off-label" for weight loss while the obesity approval was pending. Zepbound will be available in the U.S. by the end of the year at a list price of $1,059.87 a month, according to Lilly. That compares with a list of $1,349 per-package for Novo Nordisk's (NOVOb.CO) wildly popular weight-loss drug Wegovy. After Wednesday's FDA approval, Lilly can now promote the drug for weight loss.

Persons: Eli Lilly, Mike Segar, Eli Lilly's, ” John Sharretts, Lilly, Morningstar, Damien Conover, Conover, drugmaker, Robert Kushner, Mounjaro, Patrick Wingrove, Leroy Leo, Bhanvi, Shinjini Ganguli, Bill Berkrot Organizations: Company, REUTERS, U.S . Food, Drug Administration, U.S, FDA, FDA’s Center, Drug, Research, Novo Nordisk's, Reuters, Northwestern University Feinberg School of Medicine, Thomson Locations: Branchburg , New Jersey, U.S, Indianapolis, United States, New York, Bengaluru

☆ Roblox beats bookings estimates on higher in-game spending, shares jump
▼ + stars: | 2023-11-08 | by ( Harshita Mary Varghese | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/ File Photo Acquire Licensing RightsNov 8 (Reuters) - Roblox (RBLX.N) beat quarterly bookings estimates as in-game spending jumped and summer break drove more users to its online gaming platform for titles including "Adopt Me!" and "Murder Mystery 2", sending its shares over 17% higher on Wednesday. Net bookings, generated from in-game purchases of Roblox's virtual currency "Robux", came in at $839.5 million, beating estimates of $830.2 million, according to LSEG data. It also recorded over 15 million downloads in October from Sony's (6758.T) PlayStation devices after launching in the previous month. In February next year, Roblox will reveal its forecasts for full-year 2024 and the first quarter, it said.

Persons: Brendan McDermid, Roblox, Michael Guthrie, Harshita Mary Varghese, Shinjini Ganguli Organizations: New York Stock Exchange, REUTERS, Electronic Arts, Thomson Locations: New York, U.S, Europe, Asia, Sony's

☆ Homebuilder D.R. Horton sees weaker Q1 as high mortgage rates cool demand
▼ + stars: | 2023-11-07 | by ( Ananta Agarwal | ) www.reuters.com time to read: +2 min

A house under construction is seen at Hawthorne Estates by D. R. Horton in Medford, New Jersey, U.S., May 23, 2022. Horton (DHI.N) said on Tuesday it expects a sequential decline in home sales in the first quarter as high mortgage rates temper demand for housing. With current 30-year fixed mortgage rates nearing 8% and home prices continuing to surge due to a shortage of units for sale, many have deferred their home buying plans. Horton said on a call with analysts, adding that it's offering mortgages in the 6% range compared to the current high rates. In the fourth quarter, D.R.

Persons: Andrew Kelly, homebuilder D.R, Horton, DHI.N, homebuilders, D.R, Ananta Agarwal, Shinjini Organizations: Hawthorne Estates, REUTERS, Revenue, Thomson Locations: Hawthorne, Horton, Medford , New Jersey, U.S, Arlington , Texas, Bengaluru

Nov 7 (Reuters) - The number of newborns with syphilis in the United States surged more than 10-fold in the last decade, the U.S. Centers for Disease Control and Prevention (CDC) reported on Tuesday. The agency said 3,761 cases were recorded in 2022, the highest in over 30 years, up from 334 cases in 2012. The 2022 cases included 231 stillbirths and 51 infant deaths. Congenital syphilis occurs when a mother with syphilis passes the infection to her baby during pregnancy. The CDC recommends screening for syphilis at the first prenatal care visit to reduce perinatal transmission.

Persons: Laura Bachmann, Bachmann, Sriparna Roy, Nancy Lapid Organizations: U.S . Centers for Disease Control, Prevention, CDC's, CDC, Thomson Locations: United, Bengaluru

REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 6 (Reuters) - Lyft's (LYFT.O) price cuts may have helped the ride-hailing firm make a small dent in Uber's (UBER.N) U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit. Reuters GraphicsFor Lyft, which under new boss David Risher has signaled a more aggressive pricing strategy, market share wins have been slow. Lyft's share has risen just 200 basis points to 29% since January, when the price war started, YipitData said. "If Uber wants to take more market share quicker from Lyft, it could lower prices. Reuters GraphicsBut Uber's growth has slowed.

Persons: Mike Blake, Lyft, David Risher, YipitData, Uber, Adam Ballantyne, that's, Christopher Vandergrift, Akash Sriram, Shinjini Organizations: San Diego State University, REUTERS, Reuters, Cambiar Investors, Columbia Threadneedle Investments, Thomson Locations: San Diego , California, U.S, Bengaluru

☆ Pipeline operator Enbridge beats profit targets on higher transport volumes
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsNov 3 (Reuters) - Pipeline operator Enbridge (ENB.TO) on Friday beat third-quarter profit estimates, benefiting from transporting higher volumes of oil and other liquids. Calgary, Alberta-based Enbridge moves about 30% of the crude oil produced in North America, and nearly 20% of the natural gas consumed in the United States. Mainline system transports light and heavy crude oil, natural gas liquids, and refined products from Edmonton, Alberta to various markets in Canada and the U.S. Midwest. In September, the company announced a $14 billion bid for Dominion Energy's (D.N) three utility assets, to create North America's largest gas utility platform. ($1 = 1.3735 Canadian dollars)Reporting by Tanay Dhumal in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Gregory Ebel, Ebel, Tanay, Shinjini Organizations: REUTERS, U.S . Midwest, Quarterly, Dominion, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, Ukraine, Calgary , Alberta, North America, United States, Edmonton , Alberta, Enbridge, Bengaluru

☆ Musk's xAI set to launch first AI model to select group
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Tesla and SpaceX's CEO Elon Musk pauses during an in-conversation event with British Prime Minister Rishi Sunak in London, Britain, Thursday, Nov. 2, 2023. Kirsty Wigglesworth/Pool via REUTERS Acquire Licensing RightsNov 3 (Reuters) - Elon Musk's artificial intelligence startup xAI will release its first AI model to a select group on Saturday, the billionaire and Tesla (TSLA.O) CEO said on Friday. The team behind xAI, which launched in July this year, comes from Google's DeepMind, the Windows parent, and other top AI research firms. Though Musk-owned X, the social media firm formerly known as Twitter, and xAI are separate, the companies work closely together. Larry Ellison, co-founder of Oracle (ORCL.N) and a self-described close friend of Musk, said in September that xAI had signed a contract to train its AI model on Oracle's cloud.

Persons: Tesla, Elon Musk, Rishi Sunak, Kirsty Wigglesworth, OpenAI's ChatGPT, Google's, Bard, Microsoft's, Bing, Google's DeepMind, XAI, Larry Ellison, Musk, xAI, Akash Sriram, Shinjini Organizations: British, REUTERS Acquire, Elon, Twitter, Oracle, Thomson Locations: London, Britain, Bengaluru

☆ Ratcliffe to invest extra $300 mln on top of 25% stake in Manchester United -source
▼ + stars: | 2023-11-03 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +2 min

Shares in United rose 4% to $18.85 on the news, which was first reported by Sky News. Manchester United declined to respond to a Reuters request for comment. Ratcliffe founded Ineos in 1998 and is the chemical group's chairman and chief executive officer, with a two-thirds stake. Record 20-time English champions, United have more than 650 million fans worldwide, according to market research firm Kantar. ($1 = 0.8110 pound)Reporting by Prerna Bedi in Bengaluru; Editing by Shinjini Ganguli, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Ratcliffe, Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Ineos, Erik ten Hag, Prerna Bedi, Shinjini Ganguli, Kirsten Donovan Organizations: Premier, Sky News, Manchester United, Reuters, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, United, League, Premier League, Manchester City, Thomson Locations: Manchester, United, Qatar's Sheikh Jassim bin Hamad al Thani, Ineos, British, Bengaluru

☆ Block shares soar as Street lauds strong 2024 forecast, buyback plans
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Block Inc logo is seen displayed in this illustration taken, April 10, 2023. If premarket gains hold, the company could add nearly $5 billion to its market value, based on the stock's last trading price of $51.85, according to Reuters calculations. It took some analysts by surprise as it alluded to an increased focus on keeping expenses under control. The company would create an "absolute cap on the number of people we have...held firm at 12,000 people" until gains in the business outpaced headcount growth, CEO Jack Dorsey said. Block's initial plan to repurchase $1 billion worth of shares also raised investor spirits, as Dorsey said the buybacks would offset some dilution from share-based compensation to employees.

Persons: Dado Ruvic, Block, Jack Dorsey, tsin Huang, Dorsey, Niket, Shinjini Organizations: REUTERS, PayPal Holdings, Thomson Locations: Bengaluru

☆ Saudi Arabia eyes stake in $30 bln Indian Premier League - Bloomberg News
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world's richest cricket league, Bloomberg News reported on Friday, citing people familiar with the matter. Saudi Arabian Crown Prince Mohammed bin Salman's advisers have spoken to Indian government officials about moving the IPL into a holding company valued at as much as $30 billion, the report said. The Board of Control for Cricket in India (BCCI), the custodian of the IPL, did not immediately respond to Reuters' request for a comment. IPL is one of the richest leagues in the world and has been attracting top players and coaches to India since its inaugural edition in 2008. Reporting by Nilutpal Timsina in Bengaluru; Editing by Shinjini Ganguli and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Saudi Arabian Crown Prince Mohammed bin, Nilutpal, Shinjini Ganguli, Shilpi Majumdar Organizations: Indian Premier League, Bloomberg, Saudi Arabian Crown, IPL, Control, Cricket, BCCI, Reuters, Thomson Locations: Saudi Arabia, Saudi, India, Bengaluru

☆ Starlink achieves cash-flow breakeven, says SpaceX CEO Musk
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

SpaceX founder and Tesla CEO Elon Musk speaks on a screen during the Mobile World Congress (MWC) in Barcelona, Spain, June 29, 2021. REUTERS/Nacho Doce/File Photo Acquire Licensing RightsNov 2 (Reuters) - SpaceX CEO Elon Musk said on Thursday the rocket company's satellite internet unit, Starlink, had achieved cash flow breakeven. In 2021, Musk said SpaceX would spin off and take Starlink public once its cash flow was reasonably predictable. Starlink has been in the spotlight since last year as it helps provide Ukraine with satellite communications key to its war efforts against Russia. SpaceX is valued at about $150 billion and is one of the most valuable private companies in the world.

Persons: Elon Musk, Nacho, Musk, Starlink, Chavi Mehta, Joey Roulette, Shinjini Organizations: SpaceX, Mobile World Congress, REUTERS, Viasat, Russia, NASA, Wall Street, Thomson Locations: Barcelona, Spain, Ukraine, Gaza, Bengaluru, New York

☆ WeWork shares sink on reports of imminent plans for bankruptcy filing
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - WeWork shares (WE.N) tanked over 35% in premarket trading on Wednesday after media reports that the flexible workspace provider was planning to file for bankruptcy as early as next week. The bankruptcy filing would follow a series of troubles for the SoftBank-backed company since its IPO plans imploded in 2019 on skepticism over its business model of taking long-term leases and renting them for short term. WeWork is mulling over filing a Chapter 11 petition in New Jersey, the WSJ first reported on Tuesday. The stock was last trading at $1.45 before the opening bell, after losing about 96% of its value this year. Reporting by Medha Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Susannah Streeter, Hargreaves Lansdown, Medha Singh, Shinjini Organizations: WSJ, Thomson Locations: New York, New Jersey, Bengaluru

☆ Sensor maker TE Connectivity beats profit target on steady demand from EV makers
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Employees hold a plate with components at TE Connectivity in Woerth, Germany, February 16, 2022. REUTERS/Lukas Barth Acquire Licensing RightsNov 1 (Reuters) - TE Connectivity (TEL.N) beat Wall Street expectations for fourth-quarter profit on Wednesday as demand for its sensor technology was buoyed by steady sales of electric vehicles (EVs) across the globe. Customers have been increasingly turning to EVs as governments around the world implement regulations to incentivize cleaner modes of transport. It expects an adjusted profit of $1.70 in the quarter, in line with Wall Street expectations. In the fourth quarter, total net sales stood at $4.04 billion, down 7% from a year earlier, but beat analysts' average expectations of $4.01 billion.

Persons: Lukas Barth, Aishwarya Jain, Shivansh, Shinjini Organizations: REUTERS, Thomson Locations: Woerth, Germany, Switzerland

☆ Loews posts Q3 profit on higher investment income, insurance premium
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

James Tisch, President and Chief Executive of Loews Corporation, speaks during The Economist's Buttonwood Gathering in New York October 25, 2012. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 30 (Reuters) - Loews Corp (L.N) on Monday reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and insurance unit CNA Financial's (CNA.N) strong performance. Investment income for the New York-based company jumped to $592 million in the third quarter ended Sept. 30 from $404 million a year earlier. The company reported an underlying combined ratio of 90.4% in its property and casualty business, compared with 91.1% a year earlier. CNA's larger peer, Travelers Companies (TRV.N), reported a 14% fall in quarterly profit earlier this month.

Persons: James Tisch, Carlo Allegri, Pritam Biswas, Shinjini Organizations: Loews Corporation, REUTERS, Loews Corp, CNA, U.S . Federal, Loews, New, Travelers Companies, Thomson Locations: New York, Bengaluru

☆ Tesla falls as production cut by battery supplier Panasonic fans EV demand fears
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

Tesla investor Gary Black attributed the weakness in Tesla shares to chipmaker Onsemi's (ON.O) bleak forecast. "ON sells to automotive players with over 50% share of global EV sales, including 4 of the top 5 China EV makers," he said in a post on social media platform X on Monday. loadingOnsemi CEO Hassane El-Khoury said the company's top European clients were working to clear their inventory and noted that the company sees "increasing risk to automotive demand due to high interest rates." It contracted to 17.9% between July and September from 25.1% a year earlier due the EV maker's rampant price cuts, which also triggered a price war in key markets such as China. Tesla was trading at about 56 times its 12-month forward earnings estimates, compared with 5.6 times for Ford and General Motors' 4.1, according to LSEG data.

Persons: Phil Noble, Elon Musk's, Edward Moya, General Motors, Stellantis, Gary Black, chipmaker, Hassane El, Khoury, Tesla, Chavi Mehta, Akash Sriram, Shinjini Organizations: REUTERS, Tesla, Panasonic Holdings, Panasonic, Tesla's, Oanda, General, United Auto Workers, Ford Motor, Chrysler, UAW, General Motors, China EV, Ford, EV maker's, Thomson Locations: Manchester, Britain, North America, Stellantis's, China, Bengaluru

☆ Pharmacy staff from CVS, Walgreens stores in US start 3-day walkout
▼ + stars: | 2023-10-30 | by ( Leroy Leo | ) www.reuters.com time to read: +3 min

The walkout, which the organizers have dubbed "Pharmageddon", is the third strike by pharmacists in a little over one month. In September, some staff from CVS stores in Kansas City went on a two-day strike, while there was another by Walgreens store employees earlier this month. Pharmacy staff in New York and Pennsylvania were planning to participate, including workers at some of Walgreens' Duane Reade stores in New York, he said. Some pharmacists were also planning to conduct rallies outside CVS' headquarters at Woonsocket, Rhode Island and at Walgreens at Deerfield, Illinois, according to social media posts. "Our ongoing efforts are focused on how we recruit, retain, and reward our pharmacy staff," a spokesperson for Walgreens told Reuters, adding that they have also centralized some operations to reduce pharmacists' workload.

Persons: Walgreens Boots Alliance's, Shane Jerominski, Duane Reade, Jerominski, Kaiser, Leroy Leo, Shinjini Organizations: CVS Health Corp, Walgreens Boots, Kansas City, Walgreens, Reuters, Jerominski, Pharmacy, CVS, Kaiser Permanente, Thomson Locations: U.S, Kansas, New York, Pennsylvania, Woonsocket , Rhode Island, Deerfield , Illinois, Bengaluru

☆ Meta introduces ad-free plans for Instagram, Facebook in Europe
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The logos of Facebook and Instagram and the words "Monthly subscription" are seen in this picture illustration taken January 19, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 30 (Reuters) - Meta Platforms (META.O) said on Monday it will offer users in Europe a subscription plan to use Facebook and Instagram without advertisements to comply with the European Union regulations. The monthly subscription plans for users in the EU, European Economic Area and Switzerland, will cost 9.99 euros ($10.58) for web users, while iOS and Android users will have to shell out 12.99 euros a month. The EU regulations threaten to curb Meta's ability to personalize ads for users without their consent and hurt its major revenue source. ($1 = 0.9446 euros)Reporting by Akash Sriram in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Meta, Akash Sriram, Shinjini Organizations: REUTERS, Facebook, European, European Economic, Ireland's, EU, Thomson Locations: Europe, EU, Switzerland, Meta, Bengaluru

Dimon and his family intend to sell 1 million of their 8.6 million shares, according to the filing. That is a tiny percentage of the shares outstanding in JPMorgan which has a market capitalization exceeding $409 billion, according to LSEG data. Dimon has no current plans to sell more stock, but could consider doing so in the future, the spokesman added. Shares of JPMorgan slid more than 3%, falling with peers Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N). So far this year, JPMorgan shares have risen 1.4%, outperforming the S&P 500 Banks Index (.SPXBK), which has declined 18%.

Persons: JPMorgan Chase, Jamie Dimon, Dimon, Octavio Marenzi, Marenzi, they're, Schumer, Evelyn Hockstein, Wells, Brian Mulberry, Mulberry, Ben Silverman, Mike Mayo, James Gorman, Morgan Stanley, Peter Orszag, Dave Ellison, Hennessy, Scott Siefers, Piper Sandler, Siefers, Niket, Lananh Nguyen, Nupur Anand, Shilpi Majumdar, Shinjini Ganguli, Mike Harrison, Jonathan Oatis Organizations: JPMorgan, First Republic Bank, Forbes, U.S, Capitol, REUTERS, Bank of America, Citigroup, Zacks Investment Management, Wells, Wall Street, Lazard, Hennessy Funds, Banks, Thomson Locations: U.S, America, Washington , U.S, Wells Fargo, Bengaluru, Lananh, New York

☆ Merck quarterly profit tops expectations on COVID pill surprise
▼ + stars: | 2023-10-26 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. Merck raised Lagevrio full-year sales forecast to $1.3 billion. Third-quarter sales of Merck's top-selling cancer immunotherapy, Keytruda, stood at $6.34 billion, surpassing analysts' average estimate of $6.22 billion. Gardasil, its vaccine to prevent cancers caused by human papillomavirus (HPV), generated sales of $2.59 billion, rising 13% but missing analysts' average estimate of $2.69 billion. The company posted sales of $15.96 billion in the reported quarter, compared to the average analyst estimate of $15.3 billion.

Persons: Brendan McDermid, Molnupiravir, Merck, Wells, Mohit Bansal, drugmaker, Michael Erman, Leroy Leo, Bill Berkrot Organizations: Merck, Co, REUTERS, Merck & Co, Pfizer's, Thomson Locations: Rahway , New Jersey, U.S, Japan, United States, EU

☆ Mastercard third-quarter profit rises
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Credit card is seen in front of displayed Master Card logo in this illustration taken, July 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 26 (Reuters) - Mastercard (MA.N) on Thursday reported a rise in third-quarter profit, as consumer spent on travel and entertainment. The company reported a profit of $3.2 billion, or $3.39 per share, for the three months ended Sept. 30, compared with $2.5 billion, or $2.58 per share, a year earlier. Wage growth has helped customers persist with their spending habits on travel, shopping and entertainment despite still high inflation. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Niket, Shinjini Organizations: REUTERS, Mastercard, U.S . Federal, Thomson Locations: Bengaluru

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