DIRS.INFO The most relevant business & tech news

☆ Breakingviews: Rupert Murdoch will redefine chair emeritus
▼ + stars: | 2023-09-21 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 21 (Reuters Breakingviews) - Rupert Murdoch is tiptoeing slowly out the door. The decision at least solidifies succession plans, but there can be little doubt that his chairman emeritus title will be more than just a retirement honorific. He has been sharing the chairman’s job with his son, Lachlan, who will take the seat himself and keep his chief executive position at Fox. Follow @jennifersaba on XCONTEXT NEWSRupert Murdoch is stepping down as co-chair of media companies Fox and News Corp and his son, Lachlan, will become sole chair, the companies said on Sept. 21. Rupert will be chair emeritus of both Fox and News Corp.

Persons: Rupert Murdoch, tiptoeing, Murdoch, Lachlan, James, Walt Disney, Robert Thomson, ”, Rupert, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, Fox, News Corp, Fox News, Wall Street, Walt, Disney, Communications, . News Corp, Thomson

☆ Disney’s theme parks reveal shrunken treasure
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing RightsNEW YORK, Sept 20 (Reuters Breakingviews) - Bob Iger can’t get off the roller coaster. Walt Disney’s (DIS.N) chief executive plans to double the Magic Kingdom’s investment in theme parks and other experiences to $60 billion over the course of about 10 years. On the other, Disney’s dwindling cash and the increasing demands for it is cause for concern. One issue is that Disney’s free cash flow has plummeted. No wonder adding theme parks to the list is making shareholders skittish.

Persons: Bob Iger can’t, Walt Disney’s, Iger, Jennifer Saba, Bernie Sanders’s, Jeffrey Goldfarb, Sharon Lam Organizations: Writers Guild of America, Walt Disney Studios, Reuters, Disney, Comcast, Pearson’s, Thomson Locations: Burbank , California, U.S, Hulu

☆ Disney starts drafting broadcast TV’s grand finale
▼ + stars: | 2023-09-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +9 min

It was pretty much the only way to watch “Gunsmoke” or “Howdy Doody” until cable networks arrived in force in the 1980s, bundled together for a monthly subscription fee. For Disney, ABC represented a watershed moment. Look deeper and the big broadcasters attracted only one in five viewers, while one in three watched cable networks. The TV group, excluding cable networks such as Fox News, generated an EBITDA margin of nearly 12% for the year ending June 30. Assume any deal includes cable networks such as Disney Channel and National Geographic.

Persons: Walt Disney, Bob Iger, ”, Howdy Doody, Fox, Rupert Murdoch, Michael Eisner, Iger, what’s, “ Abbott, Singer, Morgan Stanley, Disney’s, they’re, reckons Morgan Stanley, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav, Oliver Taslic Organizations: Reuters, Magic Kingdom, ABC, Disney, ESPN, Charter Communications, American Broadcasting Company, NBC, CBS, Capital Cities, RJR Nabisco, Paramount Global, Comcast, Warner Bros Discovery, Fox, Paramount, National Football League, NFL, Reuters Graphics Reuters, Bloomberg, Apple, Nielsen, BET, Wall Street Journal, Charter, U.S . Federal Communications Commission, Local, Disney Channel, Geographic, Apollo Global Management, TPG, Walt Disney, Thomson Locations: U.S, United States

The Google sign is reflected in a rain puddle outside their offices in Cambridge, Massachusetts, U.S., June 27, 2017. Acquire Licensing RightsWASHINGTON, Sept 13 (Reuters Breakingviews) - Want to know how to remove Google as the iPhone’s default search tool? According to him, the search engine operated by Alphabet (GOOGL.O) enlists Apple (AAPL.O) to answer the query by directing users to its website. Using Google as the default search engine wasn’t Apple’s “choice,” Dintzer said. Follow @BenWinck on XFollow @thereallsl on XCONTEXT NEWSThe U.S. Department of Justice’s antitrust case against Alphabet’s Google started on Sept. 12.

Persons: John Schmidtlein, Kenneth Dintzer, Google, ” Schmidtlein, Schmidtlein, ” Dintzer, It’s, Tim Cook, Alphabet’s Google, Ben Winck, Lauren Silva Laughlin, Jeffrey Goldfarb, Sharon Lam Organizations: Google, Rights, Reuters, Apple, U.S . Department of, Yahoo, Verizon Communications, Microsoft, Netscape, U.S, U.S . Department, Alphabet’s, Thomson Locations: Cambridge , Massachusetts, U.S, Safari, Japan, Washington, New York

☆ Unity discovers how real the revenue struggle is
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su Acquire Licensing RightsNEW YORK, Sept 13 (Reuters Breakingviews) - Unity Software (U.N) is finding out just how hard the revenue game will be. The $14 billion company’s new plan to climb out of an unprofitable hole makes sense, but also faces considerable pushback. The strategy seeks to impose fees on video-game developers after certain revenue and install thresholds are met, eliciting a harsh response on social media on Tuesday. Unity may retain its customers, as switching suppliers can be a pain, but deeper-pocketed rivals such as Epic Games may see an opportunity to pounce. Silicon Valley’s revenue struggle is real.

Persons: Edgar Su, Robert Cyran, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Unity Software, Apple, Unity, X, Treasury, UBS, Thomson Locations: Pico, Singapore, Asia

☆ Rising US gas prices are both good news and bad
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 13 (Reuters Breakingviews) - Ignore the glowing signs at U.S. gas stations, and the country's inflation fight is going well. The bad news about costlier refueling is also the good news. Transportation costs jumped 2%, but that was likely linked to the price of energy. He said in July that tumbling gas prices weren’t enough to declare victory over inflation, and that the core gauge was still worryingly high. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Ben Winck, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, of Labor Statistics, Federal Reserve, X, Treasury, UBS, Warner Bros Discovery, Thomson Locations: Asia

☆ Citi’s big restructuring has a familiar ring to it
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake Acquire Licensing RightsNEW YORK, Sept 14 (Reuters Breakingviews) - Jane Fraser is trying to make history. Citigroup’s (C.N) boss said the shake-up she unveiled on Wednesday is the most “consequential changes” to the organization in 20 years. Citi shares gained less than 2% in a flat market following her presentation at the Barclays Global Financial Services conference. The bottom line is that an investor who put $10 into Citi 20 years ago would have just $1 today.

Persons: Jane Fraser, Mike Blake, Michael Corbat, Vikram Pandit, ballyhooed, Fraser, Corbat, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Citi, Milken, Global Conference, REUTERS, Reuters, Barclays Global Financial Services, JPMorgan, X, Unity, Treasury, UBS, Thomson Locations: Beverly Hills , California, U.S, Asia

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

Executive Producer Reese Witherspoon attends a premiere for the television series "The Last Thing He Told Me" in Los Angeles, U.S, April 13, 2023. REUTERS/Mario Anzuoni Acquire Licensing RightsTORONTO, Sept 7 (Reuters Breakingviews) - Reese Witherspoon is putting her star power – and business acumen – to the takeover test again. Private equity firm Consortium Brand Partners said on Wednesday it had bought 70% of Witherspoon’s “steeped in Southern charm” apparel company for an undisclosed sum. For all the attention A-listers now command in deal-making, however, the financial stars often don’t align. Follow @sharonlam_ on XCONTEXT NEWSPrivate equity firm Consortium Brand Partners said on Sept. 6 that it had acquired a 70% stake in Draper James, the fashion and lifestyle brand started by Hollywood actor Reese Witherspoon.

Persons: Reese Witherspoon, Mario Anzuoni, –, Blackstone, Draper James, George Clooney’s, Dre’s, Kylie Jenner, Kim Kardashian, Jessica Simpson, Jessica Alba, ”, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: REUTERS, Rights, Reuters, Sunshine, Brand Partners, Diageo, Apple, Bloomberg, Honest Company, Jay, Hollywood, Thomson Locations: Los Angeles, U.S, North America, Coty, Delaware, Draper

☆ Barbie’s a boss but not a business model
▼ + stars: | 2023-09-05 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 5 (Reuters Breakingviews) - Warner Bros Discovery (WBD.O) boss David Zaslav is playing too much with Barbie. Mattel (MAT.O), the $8 billion company behind the brand, has increased its market value 20% since late May, growing three times as fast as the S&P 500 Index (.SPX). Lego partnered with Warner Bros in 2014 to produce a movie featuring its renowned plastic bricks. Unlike Disney and its superheroes, Warner Bros doesn’t own the blonde bombshell. Barbie may be this year’s boss, but she and her nostalgic ilk are unlikely to become business models.

Persons: David Zaslav, Barbie, Margot Robbie, Harry Potter, Polly, Cuties, Walt Disney’s, Bob Iger, Warner, oligopolistic, Davidson, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Warner Bros Discovery, Mattel, Warner Bros, Marvel, Disney, McKinsey, Harley, Thomson

☆ Fewer US temp jobs may flag longer lasting concern
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 1 (Reuters Breakingviews) - A steady drop in the temporary worker employment is a concerning blight in an otherwise steady U.S. labor market. Companies that recruit and place temps tend to cut payrolls when the first signs of an economic slowdown emerge. The crest, at 3.2 million, occurred 17 months ago, in March 2022, signaling that weakness could be ahead. Although the jobless rate reached 3.8% in August, its highest since early 2022, there are few other glaring employment concerns. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ben Winck, Pernod Ricard, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Bureau of Labor Statistics, Companies, X, Thomson

☆ Alphabet moonshots are ready for launch
▼ + stars: | 2023-08-29 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

Alphabet logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 29 (Reuters Breakingviews) - Alphabet (GOOGL.O) is poised to welcome the autumn harvest. Verily boss Stephen Gillett told employees this month that it will cut its ties to several of Alphabet’s services next year. Such a financial services business strays from Alphabet’s wheelhouse, and with artificial intelligence demanding fresh attention, it’s wise to be prudent about capital allocation. Waymo, the autonomous vehicle technology business, secured a vote of approval this month from San Francisco to operate driverless rideshares in the city.

Persons: Dado Ruvic, Ruth Porat, Morgan Stanley, ”, Stephen Gillett, wheelhouse, Chris Hohn’s, Ford, Porat, Verily, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: REUTERS, Reuters, Life Sciences, Wall Street Journal, Temasek, TCI Fund Investments, Google, Sciences, Wall, Thomson Locations: San Francisco

☆ 3M’s $6 bln earplugs settlement is a little sticky
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A variety of 3M products are pictured at an Orchard Supply Hardware store in Pasadena, California U.S., January 24, 2017. REUTERS/Mario Anzuoni Acquire Licensing RightsNEW YORK, Aug 29 (Reuters Breakingviews) - 3M’s (MMM.N) latest legal settlement includes some curious wrinkles. Moreover, the earplugs agreement is conditioned on 98% participation from what is now roughly 250,000 claimants. The $60 billion company is trying to project the idea it’s getting past its legal entanglements, but the reality is a little stickier. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mario Anzuoni, Scotchgard, Jeffrey Goldfarb, Mukesh Ambani’s, Didi, Lauren Silva Laughlin, Sharon Lam Organizations: Supply, Pasadena , California U.S, REUTERS, Reuters, Aearo Technologies, X, Thomson Locations: Pasadena , California

☆ Tupperware preserves lessons for Mark Zuckerberg
▼ + stars: | 2023-08-25 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

REUTERS/Mike Blake (UNITED STATES - Tags: BUSINESS) Acquire Licensing RightsNEW YORK, Aug 25 (Reuters Breakingviews) - Tupperware Brands (TUP.N) is struggling to stop the rot. As much as technology has remade business strategies over the past 77 years, Facebook owner Meta Platforms (META.O) leans on a comparable one. Enter Brownie Wise, the saleswoman credited with pioneering the “Tupperware effect” of teaching women how to flog to their friends by hosting themed gatherings in their living rooms. Ironically enough, in the interim Tupperware also become the product of another modern network effect, a meme stock, or a highly speculative online investment. Tupperware has about a quarter of the active salesforce it did at the end of 2012, the same year Facebook bought Instagram.

Persons: Mike Blake, UNITED, –, Earl Tupper, Tupperware, Brownie Wise, Tammy Hembrow, June Cleaver, influencers, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Safeway Inc, Reuters, Tupperware, Meta, Pew Research, Facebook, Brands, Thomson Locations: Encinitas , California, Vons, Australian, Tupperware’s

☆ TikTok challenger backpedals into public arena
▼ + stars: | 2023-08-21 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 21 (Reuters Breakingviews) - A celebrity-studded video app is fighting to contend in the public arena. The Triller app, started in 2015, runs a TikTok-like feed, but it has backed away from the battle. Brands generated most of Triller’s $48 million in revenue last year, but recent acquisitions have fueled much of the latest growth. Details are scant on Triller’s user count beyond the 550 million accounts it says it has signed up since inception. Follow @AnitaRamaswamy on TwitterCONTEXT NEWSVideo-sharing app Triller said on Aug. 2 that it plans to pursue a direct listing of its shares on the New York Stock Exchange.

Persons: Triller, Snoop Dogg, Mike Tyson, Charli, Mahi de Silva, Swizz Beatz, Timbaland, Black, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, New York Stock, Walmart, Facebook, Meta, Apple, Google, New York Stock Exchange, SeaChange International, Thomson Locations: New York, U.S

☆ Instacart’s slow IPO delivery spoils the goods
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 18(Reuters Breakingviews) - Instacart may finally be in the market for new investors. The grocery delivery company is set to submit an initial public offering prospectus to regulators as soon as next week, Bloomberg reported. Fund managers were on a shopping spree when Simo was appointed Instacart’s boss in August 2021. The slow IPO delivery has spoiled the goods. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Apoorva Mehta, Fidji Simo, Simo, Jay Ritter, Instacart, Andreessen Horowitz, Rowe Price, Jennifer Saba, EY’s loveless, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Bloomberg, University of Florida, Twitter, TPG, Thomson

☆ Private equity bites off mostly what it can chew
▼ + stars: | 2023-08-17 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Private equity firms notched nearly $300 billion of acquisitions worldwide through Aug. 15, according to Dealogic data. Deals in the $1 billion to $5 billion range are running closest to the same pace as 2022. STG, for example, secured a loan to value of more than 40% from private lenders. With capital tighter, it’s easy to understand why buyout firms are pursuing humbler deals more likely to exceed the minimum returns investors expect. GTCR’s plan to buy 55% of Worldpay at a $17.5 billion valuation requires an equity check equivalent to 15% of the buyout firm’s assets.

Persons: Simon & Schuster, STG, Clayton, Rice, Banks, Ares Capital’s, hasn’t, Jeffrey Goldfarb, Sharon Lam Organizations: KKR, New York Stock Exchange, Reuters, Avid Technology, GTCR, TPG, Francisco Partners, Bain Consulting, Thomson, & $ Locations: New York, U.S, can’t, Dubilier

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ Target investors misread bullseye
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 16 (Reuters Breakingviews) - Target (TGT.N) had some luck hitting the bullseye this quarter. Target is getting its inventory in shape after a glut of products from last year caused it to slash prices. Still, the company slashed its sales and profit outlook as shoppers continue to spend more on food. E-commerce sales slumped nearly 11% – well below the overall sales decline of 5%. Target may well be beholden to consumer behavior, but it can steady its aim to hit marks under its control.

Persons: Brian Cornell, Jennifer Saba, EY’s loveless, Exor’s Philips, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Twitter, TPG, Thomson

☆ PayPal would slot well in a different wallet
▼ + stars: | 2023-08-15 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $70 billion company’s struggles, and the incoming chief’s credentials, set the stage for a transaction of some sort. He also spearheaded its $12 billion purchase of marketing service Mailchimp in 2021, which could augur a deal. And an operation like PayPal’s could help CEO Mark Zuckerberg challenge potential cage-match opponent Elon Musk and his super-app ambitions at X, formerly known as Twitter. Given PayPal’s massive slump, Chriss will be under pressure to restore the luster, or to slot it into another company’s wallet. In 2021, he led the company’s $12 billion acquisition of Mailchimp.

Persons: Alex Chriss, Dan Schulman, Mark Zuckerberg, Elon Musk, Lina Khan, Fiserv, Frank Bisignano, Peter Thiel, Sexier, Chriss, Schulman, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, PayPal, Intuit, JPMorgan, Citigroup, Facebook, U.S . Federal Trade Commission, Visa, Mastercard, PayPal Mafia, Mailchimp, Thomson

☆ Salesforce cage-rattlers leave in profitable peace
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing RightsNEW YORK, Aug 15 (Reuters Breakingviews) - For activist investors in Salesforce (CRM.N), the low-hanging fruit should suffice. Fast growth and big-ticket acquisitions that Salesforce boss Marc Benioff had pursued turned anathema last year. The stock price roughly halved, falling faster than the Nasdaq-100 Technology Sector Index (.NDXT). Benioff eventually acquiesced, slashing 10% of the workforce, disbanding the deals committee and unveiling a $20 billion stock buyback plan. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Porte, Jeff Smith’s, Dan Loeb’s, Marc Benioff, ValueAct, Benioff, Jonathan Guilford, Exor’s Philips, Bain, BoE, Jeffrey Goldfarb, Sharon Lam Organizations: Viva Technology, Porte de, Reuters, Big Tech, Nasdaq, Profit, Elliott Investment Management, Twitter, FC Barcelona’s, Messi, Thomson Locations: Paris, France, Salesforce, Salesforce’s

☆ Opioids expose unhealthy bankruptcy addictions
▼ + stars: | 2023-08-11 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

Between 2006 and 2014, it manufactured roughly 30 billion opioid pills. Its attempt to climb out of bankruptcy has been stalled multiple times, most recently on Thursday by the U.S. Supreme Court. Mallinckrodt agreed to a $260 million settlement last year and quarterly revenue from Acthar has tumbled 70% since 2019. If not, it will be up to elected officials to end such unhealthy bankruptcy addictions. As part of that settlement, Mallinckrodt agreed to pay $1.7 billion over eight years to settle opioid claims.

Persons: Johnson, Mark Trudeau, Sackler, Mallinckrodt, It’s, haven’t, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Mallinckrodt Pharmaceuticals, Johnson, CVS Health, Purdue Pharma, U.S, Supreme, Department of Justice, Specialty Brands, Point, Purdue, Purdue Pharma’s, DOJ, Biden Administration, Thomson Locations: American, Delaware, Acthar

☆ American price elasticity stretched to the limit
▼ + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

WASHINGTON, Aug 10 (Reuters Breakingviews) - The United States may be over the hump on inflation, but consumers aren’t acting like it. Lingering restraint will stretch the power of price elasticity to its limits. Similarly, PepsiCo’s (PEP.O) 14% increase in North American prices of Mountain Dew, Tropicana orange juice and other beverages cost it 4% in quarterly sales. Strong appetites for Oreos and Wheat Thins lifted Mondelez International’s (MDLZ.O) sales 2% in the United States, Canada and Mexico, even as prices climbed 10%. They have climbed 3.5% from a year earlier, surpassing the 3.2% annual increase in the Consumer Price Index.

Persons: Mondelez, Darden, Ricardo Cardenas, Laxman Narasimhan, Marriott, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, of Michigan, U.S . Bureau of Labor Statistics, Capital, Procter & Gamble, Delta Air Lines, United Airlines, Reuters Graphics Reuters, U.S, of Labor Statistics, Thomson Locations: States, Dew, United States, Canada, Mexico, American

☆ WeWork multitasked when it had just one job
▼ + stars: | 2023-08-09 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 9 (Reuters Breakingviews) - WeWork (WE.N) took a decent idea and turned it into a ridiculous one. Occupancy declined and WeWork burned through another $300 million. WeWork agreed to take over loads of space when revenue was doubling each year and prices were far higher. Workspace-sharing providers can thrive again, too, if they remember that being cautious about puffing up their balance sheets is the main job. WeWork, valued at $47 billion in a private 2019 funding round, said in May it had completed a debt-for-equity recapitalization that eliminated $1.2 billion of debt.

Persons: Adam Neumann, Masayoshi Son, WeWork, Daniel Hurwitz, it’s, Sandeep Mathrani, Hurwitz, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, SoftBank, Video Communications, Thomson Locations: Swiss

☆ Satellite reunion creates a bit of breathing space
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Dish Network Chairman Charlie Ergen speaks during Google's annual developers conference in San Francisco, California May 20, 2010. Dish Network Corp, the No. Some 15 years after the 70-year-old billionaire initially cleaved his satellite empire, he unveiled an all-stock deal Tuesday to reunite Dish Network (DISH.O), the $4.5 billion pay-TV operator, with the smaller EchoStar (SATS.O) infrastructure business. Dish shareholders, who will own 69% of the enlarged entity, are issuing stock at a rock-bottom price for the privilege. If nothing else, though, the modest 13% premium they’re offering to EchoStar shareholders buys some valuable time.

Persons: Charlie Ergen, It’s, Jeffrey Goldfarb, Peter Thal Larsen, Sharon Lam Organizations: Dish, Dish Network Corp, Sprint Nextel Corp, Reuters, Nasdaq, Twitter, Siemens, Thomson Locations: San Francisco , California

Search resuls for: "Jeffrey Goldfarb"

25 mentions found