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Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. ET, for a snapshot of the U.S. economy, ahead of the keenly awaited inflation data scheduled for next week and the Fed's policy decision on Sept. 20. Investors will also parse comments from Boston Fed President Susan Collins and Dallas Fed President Lorie Logan later in the day. ET, Dow e-minis were down 76 points, or 0.22%, S&P 500 e-minis were down 11.5 points, or 0.26%, and Nasdaq 100 e-minis were down 50 points, or 0.32%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Russ Mould, AJ Bell, Susan Collins, Lorie Logan, General Mills, Shristi Achar, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Federal Reserve, Investors, Global, ISM, Traders, Boston Fed, Dallas Fed, Dow e, Apple, Alaska Air Group, Southwest Airlines, United Airlines, Thomson Locations: Manhattan, New York City , New York, U.S, Russia, Saudi Arabia, China, Bengaluru

☆ Broadcom falls as forecast pales before Nvidia's blowout results
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 1 (Reuters) - Broadcom shares (AVGO.O) fell 4.2% in premarket trading on Friday as the semiconductor maker's quarterly revenue forecast fell short of investors' lofty expectations following bigger rival Nvidia's (NVDA.O) AI-powered blockbuster results. "Off the back of Nvidia's blowout earnings update, anything less than stellar is being seen as disappointing," said Danni Hewson, head of financial analysis at AJ Bell. The company, which supplies chips that help glue together AI supercomputers and traditional servers, expects networking revenue to jump 20% in the fourth quarter. Broadcom's forward price-to-earnings ratio for the next 12 months stood at about 20, compared with Nvidia's 35, according to Refinitiv data.

Persons: Dado Ruvic, Danni Hewson, AJ Bell, Hargreaves, Sophie Lund, Yates, Chavi Mehta, Devika Organizations: Broadcom, REUTERS, trailblazer Nvidia, Thomson Locations: Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Shares of Salesforce (CRM.N), which also forecast upbeat quarterly sales, rose 5.6% before the bell as the cloud-based software provider benefits from price hikes and a resilient demand. Investors now await the price consumption expenditure (PCE) index for July, the Fed's preferred inflation measure, due at 8:30 a.m. The core PCE price index is expected to have climbed 4.2% in the 12 months through July, according to economists polled by Reuters. Among other stocks, Dollar General (DG.N) slumped 14.2% after the discount retailer cut its annual same-store sales forecast.

Persons: Brendan McDermid, Dow Jones, Salesforce, Russ Mould, AJ Bell, Raphael Bostic's, Alibaba, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Investors, Reuters, Graphics Traders, Atlanta Fed, PDD Holdings, Baidu, Dow e, Thomson Locations: New York City, U.S, Bengaluru

☆ Nvidia shares up on hopes of strong results powering another AI rally
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of the most valuable chip company had briefly scaled a record high in the previous session, but ended 2.8% lower as overall markets slipped. Investors expect upbeat results from Nvidia, whose shares are the top performer on S&P 500 this year, to revive a stocks rally that has struggled in recent weeks. Investors will be looking at sales at Nvidia's data center unit, home to its prized H100 chip used in AI. "Anything less than absolutely fantastic could trigger a sharp downside correction in Nvidia's stock price," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Persons: Robert Galbraith, AJ Bell, Russ Mould, Ipek Ozkardeskaya, Medha Singh, Arun Koyyur Organizations: Nvidia, REUTERS, Reuters, Apple, Swissquote Bank, Thomson Locations: Santa Clara , California, Bengaluru

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Other big technology and growth stocks also rose, with Tesla (TSLA.O) advancing 3.4% after logging its biggest one-day percentage gain since March on Monday. Macy's (M.N) jumped 4% after the department store chain beat second-quarter sales estimates, while Coty (COTY.N) slipped 2.0% after the perfume and cosmetics maker forecast annual profit below Wall Street expectations. ET, Dow e-minis were up 66 points, or 0.19%, S&P 500 e-minis were up 17.25 points, or 0.39%, and Nasdaq 100 e-minis were up 79 points, or 0.53%. Among other stocks, shares of Zoom Video Communications (ZM.O) rose 2.8% in premarket trading after the video-conferencing platform forecast third-quarter profit above Wall Street estimates.

Persons: Carlo Allegri, Nvidia's, Russ Mould, Jerome Powell's, Lowe's Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Nvidia, Monday, Bell, Federal, Traders, Coty, Dow e, Zoom Video Communications, Wall, Activision, Microsoft, Ubisoft Entertainment, Thomson Locations: New York, U.S, Jackson

[1/2] The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. Among major movers of the day, Applied Materials (AMAT.O) rose 2.5% after the chip equipment maker forecast fourth-quarter profit above analysts' estimates and posted better-than-expected third-quarter earnings. Estee Lauder (EL.N) lost 2.9% after the cosmetics maker forecast its annual net sales and profit below Street estimates. Deere & Co(DE.N) added 0.4% after the construction equipment maker raised its annual profit outlook. With no major economic data due on Friday, focus will now shift to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole economic symposium next week.

Persons: Jason Reed, Estee Lauder, Russ Mould, AJ Bell, EL.N, Jerome Powell's, Amruta Khandekar, Maju Samuel Organizations: U.S . Federal, REUTERS, Dow, Nasdaq, Federal Reserve, Traders, Alibaba, Materials, Deere, Co, Federal, Nvidia, Dow e, Keysight Technologies, Thomson Locations: Washington, U.S

☆ Stock markets face a 'perfect storm' as high rates and China fears bite, analysts warn
▼ + stars: | 2023-08-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. large scale fiscal stimulus) we acknowledge sentiment on China is unlikely to reverse sustainably on its own." Cau suggested this poses a problem for European and U.K. stocks. As such, Barclays is recommending investors should take a "barbell" approach involving allocations to cyclical and defensive stocks and a "value tilt." A value tilt refers to tipping a portfolio towards stocks perceived to be trading at a discount relative to their financial fundamentals.

Persons: Michael M, Russ Mould, bunds, Emmanuel Cau, Cau Organizations: New York Stock Exchange, Santiago, Getty, Bell, U.S, U.S . Federal, Treasury, Silicon Valley Bank, Barclays, European Equity Locations: New York City, U.S ., Silicon, China

☆ Retail investors flock to penny stocks WeWork, Amyris, Proterra
▼ + stars: | 2023-08-11 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

The three penny stocks, up in the range of 40% to 120%, were the most actively traded U.S. shares at 10:45 a.m. Amyris (AMRS.O) and WeWork (WE.N) were the second and third most traded stocks by retail investors, respectively, while Proterra (PTRA.O) was twelfth on the list at 10 a.m. Some of the latest speculative bets on the penny stocks were pinned on hopes of a merger and acquisition or a turnaround for the struggling businesses. Another set of retail traders are looking to capitalize on the volatility, especially by squeezing bearish investors on highly shorted stocks. Last week retail traders had piled into shares of Tupperware Brands (TUP.N) and trucking firm Yellow (YELL.O).

Persons: Kate Munsch, Amyris, Proterra, WeWork, Lucas Mantle, AJ Bell, Russ Mould, Matthew Tuttle, Medha Singh, Shounak Dasgupta Organizations: REUTERS, U.S, Biotech, Vanda Research, Hertz, Tuttle Capital Management, Tupperware Brands, Thomson Locations: San Francisco , California, U.S, Bengaluru

REUTERS/Brendan McDermid//File PhotoSummaryCompanies US-listed China stocks fall as stimulus measures disappointFutures mixed: Dow up 0.02%, S&P down 0.06%, Nasdaq down 0.16%Aug 11 (Reuters) - U.S. stock index futures were subdued on Friday as investors awaited producer prices data that could offer more clarity on the Federal Reserve's rate hike path. Investors are now focused on the producer prices data due at 8:30 a.m ET that will offer more insight into inflation in the world's largest economy. U.S. Labor Department's producer price index (PPI) for final demand, is expected to rise 0.2% in July, after growing 0.1% in June. "This (PPI) data set is something of a crystal ball for consumer price inflation; when producers charge more for goods the higher costs are usually passed on to households." "Higher yields incentivize investors to park their cash in the safety of bonds, and therefore decreases demand for risky plays like equities."

Persons: Brendan McDermid, Russ Mould, AJ Bell, Marios Hadjikyriacos, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Benchmark, Labor, PPI, Dow e, Nvidia, Treasury, XM, Thomson Locations: New York City, U.S, China, JD.com, Bengaluru

☆ Falling prices in China could be a blessing in disguise for the world economy's ongoing fight against inflation
▼ + stars: | 2023-08-09 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

But falling prices there could end up being good news for the rest of the world. However, falling prices there aren't necessarily bad news for everyone else. In China, prices are falling rather than risingData from the National Bureau of Statistics published Wednesday showed China's factory-gate prices, as measured by the producer price index, plunging 4.4% year-on-year in July for a tenth straight month of declines. Falling prices in the world's second-biggest economy could "give central bankers in the US, UK and Europe pause for thought when they weigh up their next steps," according to AJ Bell investment director Russ Mould. So deflation in China might end up being bad news for Beijing – but a blessing in disguise for the rest of the world.

Persons: it's, China's, Hargreaves Lansdow n's, Steve Lansdown, AJ Bell, Russ Mould Organizations: Service, Privacy, Apple, Nike, Federal Reserve, National Bureau, Statistics, Beijing, Bank of England Locations: China, Wall, Silicon, Beijing, West, Saudi Arabia, Russia, Ukrainian

☆ Amazon soars on 'game-changing' quarter, iPhone slump drags Apple
▼ + stars: | 2023-08-04 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

FILE PHOTO-The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. Online retail giant Amazon's shares closed at a near one-year high and added more than $109 billion to its market value. "The second quarter is a game-changing quarter for Amazon; we would call it an-all clear moment," said SVB MoffettNathanson analyst Michael Morton. The surge in Amazon's stock reflected analysts' increased estimates for its earnings. But its services business was a bright spot and helped Apple top profit expectations for the June quarter.

Persons: Benoit Tessier, SVB, Michael Morton, —, Dan Coatsworth, AJ Bell, Aditya Soni, Samrhitha, Joice Alves, Noel Randewich, Chavi Mehta, Amanda Cooper, Saumyadeb Organizations: REUTERS, Google, Microsoft, Wall Street, Amazon, Refinitiv, Apple, Thomson Locations: Bretigny, Paris, France, Apple's, Bengaluru, London

☆ Amazon surges on 'game-changing' quarter, iPhone slump drags Apple
▼ + stars: | 2023-08-04 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

FILE PHOTO-The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, November 25, 2022. Online retail giant Amazon was set to add about $120 billion to its market value, based on premarket movements. "The second quarter is a game-changing quarter for Amazon; we would call it an-all clear moment," said SVB MoffettNathanson analyst Michael Morton. But its services business was a bright spot and helped Apple top profit expectations for the June quarter. "It is time for Apple to launch something new and innovative, not just another variation of its core products."

Persons: Benoit Tessier, SVB, Michael Morton, —, Dan Coatsworth, AJ Bell, Aditya Soni, Samrhitha, Joice Alves, Amanda Cooper, Saumyadeb Organizations: REUTERS, Google, Apple, Microsoft, Wall Street, Amazon, Thomson Locations: Bretigny, Paris, France, Apple's, Bengaluru, London

☆ How interest rates impact your money — from savings to mortgages
▼ + stars: | 2023-08-04 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

The world of central banks and their policies, which include interest rates, may seem abstract — but they affect everyone. Interest rates — the rate at which you are charged or rewarded — are set by central banks, like the Fed or Bank of England. Pros and consHow consumers are affected by interest rates varies according to whether rates are higher or lower. On the flip side, higher interest rates can boost your savings, Mould added. Interest rates versus inflationInterest rates often go hand in hand with inflation (rising prices).

Persons: James McManus, —, Sarah Coles, Hargreaves Lansdown, Russ Mould, AJ Bell, Mould, McManus Organizations: CNBC, . Federal Reserve, European Central Bank, Bank of England, Fed

☆ Fitch's US debt-rating downgrade is bad news for stocks. Here's everything you need to know.
▼ + stars: | 2023-08-02 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The downgrade comes two months after Joe Biden and House Republicans reached an 11th-hour deal to stop a catastrophic default. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Here's everything you need to know about the ratings agency's shock move. Fitch said the last-minute debt-ceiling deal after months of shutdown had failed to convince it that Congress will be able to avert future calamities. As debt-ceiling negotiations dragged on earlier this year, the White House warned stocks could crash 45% if the government ever failed to repay its debts – so even a downgrade is bad news for the market.

Persons: Fitch, Joe Biden, Stocks, Joe Biden's, Biden, it's, AJ Bell's, Laith Khalaf, Fitch's, Janet Yellen, Larry Summers Organizations: House Republicans, Service, AAA, Social Security, House, Nasdaq, CME Group, Dow Jones, P Global, Biden Locations: Wall, Silicon, Europe, Asia

☆ Wall Street starts fretting about US debt again after months of easy stock-market gains
▼ + stars: | 2023-08-02 | by ( Joseph Wilkins | George Glover | ) www.businessinsider.com time to read: +3 min

Stocks have racked up easy gains over the past few months thanks to AI and cooling inflation. But investors are suddenly worried about debt again after Fitch slashed its credit rating for the US. The last time this happened was 2011 – and the S&P 500 took six months to recover its losses. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. In response, the S&P 500 dropped 6.5% and took a further six months to recover its losses.

Persons: Fitch, –, It's, Stocks, AJ Bell's, Laith Khalaf, Fitch's, Ray Dalio Organizations: Service, Poor's, House Locations: Wall, Silicon, –, Washington –, Canada

☆ A CEO quits and the BBC apologizes to Trump ally Nigel Farage. A banking scandal erupts in Britain
▼ + stars: | 2023-07-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. Prime Minister Rishi Sunak and several members of his Conservative government issued statements condemning the bank and characterizing the termination of Farage's account as an affront to free speech. Farage was offered an alternative account at regular main street bank NatWest, but declined. His critics maintain that although frequent references are made to Farage's political profile and controversial views, the reasons outlined for allowing the banking relationship to lapse were primarily commercial, and he was not "de-banked" as he claims. Without the mortgage, the bank indicated that Farage's account value would fall below its commercial criteria.

Persons: Jonathan Bachman, Alison Rose, Nigel, Coutts, Rose, Danni Hewson, AJ Bell, Farage, Coutts —, Chancellor Jeremy Hunt, James Manning, Rishi Sunak, Nigel Farage, —, DANIEL LEAL, Donald Trump, Vladimir Putin, Frances Coppola, Coppola, Dave Rushen Organizations: Getty, LONDON, NatWest, BBC, UBS, Conservative, Brexit Party, Independence Party Leader, U.K, Independence Party, UKIP, Sky News, NatWest Group, Company Locations: London, U.K, inclusivity, Leicester, British

Second-quarter earnings are gathering momentum, with Tesla (TSLA.O) due to report on Wednesday, while Bank of America (BAC.N), Morgan Stanley (MS.N), Goldman Sachs (GS.N) and Netflix (NFLX.O) are also lined up through the rest of the week. Of the 30 companies in the S&P 500 that have reported earnings as of Friday, 80% beat analyst expectations, according to Refinitiv data. In trading before the bell, Tesla <TSLA.O> gained 1.6% after the company said on Sunday it had built its first Cybertruck, after two years of delays. Lackluster Chinese economic data weighed on investors' minds on Monday as the world's second largest economy grew at a frail pace in the second quarter. During the week, investors also await retail sales and new homes figures for June.

Persons: Morgan Stanley, Goldman Sachs, JPMorgan Chase, Danni Hewson, AJ Bell, Bansari Mayur, Nivedita Bhattacharjee, Maju Samuel Organizations: Dow, Nasdaq, Bank of America, Netflix, Dow e, Federal Reserve, JPMorgan, Citigroup, Activision, Microsoft, PlayStation, Federal Trade, Meta, Thomson Locations: Norway, Wells Fargo, U.S, Bengaluru

Alphabet shares were outperforming the broader market, with the S&P 500 (.SPX) up 0.6%, boosted by data showing signs of cooling inflation. Clearly they've been able to reassure European regulators about those issues, which just paves the way for further advantage really," said Hewson. Alphabet shares, which have seen a huge boost from investor excitement around generative artificial intelligence since February, are up around 41% so far this year. Microsoft shares are up 42% so far in 2023. Also on Thursday, TD Cowen raised its price target for Alphabet shares to $140 from $130 citing expectations of better growth in its search business.

Persons: Bard, watchdogs, Danni Hewson, AJ Bell, they've, Hewson, Art Hogan, Riley, TD Cowen, Bansari Mayur, Sinéad Carew, Conor Humphries Organizations: Inc, European Union, Google, Microsoft Corp, Microsoft, Thomson Locations: Europe, Brazil, Bengaluru, New York

☆ Will Smith-backed U.S. broker Public launches in the UK in first foray overseas
▼ + stars: | 2023-07-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Gabby Jones | Bloomberg | Getty ImagesAmerican stock brokerage startup Public launched its services in the U.K. Thursday, marking its first international expansion its launch in 2017. The app, backed by celebrities including Will Smith and skateboarding legend Tony Hawk, will offer U.K. users commission-free trading in over 5,000 U.S.-listed stocks during the country's regular trading hours. Bibas said that, for now, the U.K. is the only country Public is focusing on for its international expansion. In the future, it hopes to take learnings from its U.K. launch to open in other European markets. Freetrade, the U.K. brokerage startup, slashed its valuation by a whopping 65% last month to £225m in a crowdfunding round, citing a "different market environment."

Persons: Gabby Jones, Will Smith, Tony Hawk, AJ Bell, Hargreaves Lansdown, Leif Abraham, Public's, Abraham, Jannick Malling, PFOF, Dann Bibas, Bibas, he's Organizations: Bloomberg, Getty, Public, CNBC, Jannick, GameStop, Citadel Securities, European Union, Khepri Advisers, Financial, Authority, Accel, Tiger Global Locations: U.S, Abraham, Denmark, Germany, New York, Copenhagen, London, Amsterdam, Covid

☆ British workers keep getting pay raises — despite the Bank of England urging them not to ask for more money
▼ + stars: | 2023-07-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. Much of the increase in pay has been driven by the private sector, with annual wage growth increasing to 7.6% in the three months to April. However, Bank of England Governor Bailey noted in his Mansion House speech on Monday that the British economy has proven unexpectedly resilient. Last summer saw a slew of strikes and protests as real wages, which reflect the power of a worker's pay after accounting for inflation, declined at a record rate. "No question about it, current nominal wage growth remains far too high relative to the sustainable rate of probably around 3.5-4.0% yoy.

Persons: Mark Kerrison, Andrew Bailey, Jeremy Hunt, Stuart Cole, BoE, Rishi Sunak, Danni Hewson, AJ Bell, Bank of England Governor Bailey, Sanjay Raja, Raja, Equiti's Cole, Bailey, Kallum Pickering, Pickering Organizations: National Education Union, Department for Education, Getty, LONDON, Bank of England, National Statistics, . Finance, City of, Equiti, Monetary, Deutsche Bank, MPC, Treasury, Bank, The, England's Locations: London, United Kingdom, City, City of London, Ukraine

☆ Meta takes aim at Twitter with Threads app, millions join
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +5 min

Welcome to Threads," Meta CEO Mark Zuckerberg wrote in his first post on the app, along with a fire emoji. Others saw the launch of Threads as an opportunity to create a less toxic version of Twitter. Much like Twitter, the app features short text posts that users can like, re-post and reply to, although it does not include any direct message capabilities. Instagram users who sign up for Threads automatically have a badge affixed to their Instagram profile, but can opt to hide it. Zuckerberg, responding to a user who predicted Twitter's demise about an hour after the Threads launch, cautioned patience.

Persons: Elon Musk, Kim Kardashian, Jennifer Lopez, Representative Alexandria Ocasio, Mark Zuckerberg, Meta, Danni Hewson, AJ Bell, Cortez, Zuckerberg, Musk, hasn't, Instagram, Ryan Detert, Jack Dorsey, Dorsey, Katie Paul, Sheila Dang, Jamie Freed, Josh Ye, Brenda Goh, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing, Edwina Gibbs Organizations: YORK, Wednesday, Democratic U.S, Representative, Twitter, Spiderman, Meta, TWITTER, Brands, Billboard, HBO, NPR, Netflix, Thomson Locations: Cortez, Las Vegas, Instagram

☆ Zuckerberg-Musk fight's first round: Meta launches 'Twitter Killer' Threads app
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +6 min

[1/2] Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. Welcome to Threads," Zuckerberg wrote in his first post on the app, along with a fire emoji. Instagram users who sign up for Threads automatically have a badge affixed to their Instagram profile, but can opt to hide it. "The reality is that Meta doesn't need to convert Twitter power users into Threads users" to succeed, she said. Zuckerberg, responding to a user who predicted Twitter's demise about an hour after the Threads launch, cautioned patience.

Persons: Dado Ruvic, Mark Zuckerberg, Elon Musk, ramping, Zuckerberg, Meta, Danni Hewson, AJ Bell, Musk, hasn't, Instagram, Shakira, Sheryl Sandberg, Ryan Detert, Jack Dorsey, Dorsey, Jasmine Enberg, Katie Paul, Sheila Dang, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing Organizations: REUTERS, Twitter, Brands, Billboard, HBO, NPR, Netflix, Meta, Insider Intelligence, Thomson Locations: Las Vegas, Instagram

☆ Zuckerberg-Musk fight is on: Meta launches 'Twitter Killer' Threads app
▼ + stars: | 2023-07-06 | by ( Katie Paul | ) www.reuters.com time to read: +5 min

[1/2] Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. Welcome to Threads," Zuckerberg posted on the app, along with a fire emoji. "I find it hard to imagine that the most avid loyal Twitter users who go to Twitter for that type of culture will defect and go immediately to Threads." Still, she said, Meta only needs to convince a quarter of Instagram's users to join Threads in order to rival Twitter's size. "The reality is that Meta doesn't need to convert Twitter power users into Threads users."

Persons: Dado Ruvic, Mark Zuckerberg, Elon Musk, Zuckerberg, Meta, Danni Hewson, AJ Bell, Musk, Matt Navarra, Shakira, Sheryl Sandberg, Ryan Detert, Jack Dorsey, Dorsey, Jasmine Enberg, Katie Paul, Sheila Dang, Chavi Mehta, Bansari, David Gregorio, Christopher Cushing Organizations: REUTERS, Twitter, Meta, Google, Brands, Billboard, HBO, Variety, Insider Intelligence, Thomson Locations: Las Vegas, Instagram

July 3 (Reuters) - Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries on higher production and stable demand for its electric vehicles, sending the company's shares up more than 14% on Monday. Rivian, which makes R1T pickup trucks and R1S SUVs, delivered 12,640 vehicles in the second quarter, compared with Visible Alpha estimates of 11,000 vehicles. The company made 13,992 vehicles at its facility in Normal, Illinois, which was 4,597 more than in the first quarter. Rivian's production and delivery numbers come just a day after Tesla beat estimates with record deliveries in the second quarter. Rivian posted a smaller loss in the first quarter in May and its finance chief said last month the company expects demand to remain stable through 2023.

Persons: Tesla, Rivian, Needham, Chris Pierce, Danni Hewson, AJ Bell, Chavi Mehta, Vinay Dwivedi, Shounak Organizations: Rivian, EV, Thomson Locations: Normal , Illinois, Bengaluru

☆ Barclays seeks to stop being corporate banker to Odey Asset Management, Financial Times reports
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

July 2 (Reuters) - Barclays (BARC.L) is looking to terminate its corporate banking relationship with Odey Asset Management (OAM), the Financial Times reported on Sunday, predominantly due to sexual assault allegations against founder Crispin Odey. The British hedge fund has grappled with redemptions since the FT and Tortoise Media on June 8 jointly reported allegations by 13 women that Crispin Odey had sexually assaulted or harassed them over a 25-year period. OAM and Barclays did not immediately respond to a Reuters request for comment outside usual office hours. FT also reported earlier that the FCA had restricted the movement of cash and assets from OAM to restore order at the firm. Letters to OAM investors last week showed the manager has proposed to restructure two of its key funds as part of efforts to extract Crispin Odey from the business after the assault allegations.

Persons: Crispin Odey, Odey, AJ Bell, Hargreaves Lansdown, Goldman Sachs, Morgan Stanley, Rishabh, Kevin Liffey, David Holmes Organizations: Barclays, Odey Asset Management, Financial Times, redemptions, Tortoise Media, Sunday Barclays, Financial, Authority, FT, JPMorgan, Thomson Locations: British, Canada, Halifax, Bengaluru

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