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☆ UK extends deadline on in-depth probe into Adobe's $20 bln deal for Figma
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Figurines are seen in front of displayed Adobe logo in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 25 (Reuters) - Britain's competition regulator, on Wednesday, extended by eight weeks the deadline to complete its in-depth probe into Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma, to February 2024. The CMA now has until Feb. 25 to conclude its investigation, compared to the earlier deadline of Dec. 27. In September 2022, Adobe announced a cash-and-stock deal for Figma, the biggest buyout of a privately owned software startup. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Eva Mathews, Sherry Jacob, Phillips, Savio D'Souza Organizations: REUTERS, Adobe, Markets Authority, CMA, Figma, Zoom Video Communications, Airbnb Inc, Thomson Locations: Bengaluru

☆ Microsoft, OpenAI-backed AI safety forum names first director, plans advisory board
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The Frontier Model Forum also said it created a fund to back research into the technology, with initial funding commitments of more than $10 million from its backers and partners. It said its first-ever director would be Chris Meserole, who most recently served as director of AI and emerging technology initiative at the Brookings Institution, a Washington-based think tank. He joins a forum launched in July with a focus on "frontier AI models" that exceed the capabilities present in the most advanced existing models. Industry leaders have warned that such models could have dangerous capabilities sufficient to pose severe risks to public safety. The Frontier Model Forum is backed by ChatGPT-owner OpenAI, Microsoft (MSFT.O), Google's parent Alphabet (GOOGL.O) and AI startup Anthropic.

Persons: Dado Ruvic, Chris Meserole, OpenAI, Juby Babu, Savio D'Souza Organizations: REUTERS, Microsoft, Google, Brookings Institution, Industry, Britain, ChatGPT, Thomson Locations: Washington, Bengaluru

☆ Disney nears deal to sell $10-bln valued India business to Reliance -Bloomberg News
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

However, Disney may now sell a controlling stake in the business to Reliance, the Mukesh Ambani-controlled conglomerate whose streaming platform's success has weighed on the U.S. company's Indian business, Bloomberg reported. Reliance, whose broadcast venture Viacom18 runs JioCinema, values Disney's India assets, which comprises the Disney+ Hotstar streaming service and Star India, at between $7 billion and $8 billion, the report said. The enterprise value of the India business, Disney's biggest last year globally by users, was seen at around $15 billion to 16 billion when Disney took over Fox's business. The deal could be announced as early as next month, although no final decision has been made and Disney could still decide to hold onto the assets, Bloomberg reported. JioCinema has put increased pressure on Disney India and other streaming platforms, with Ambani marketing the platform by offering free access to the Indian Premier League cricket tournament, digital rights of which were earlier with Disney.

Persons: Dado Ruvic, Gautam Adani, Kalanithi Maran, Mukesh Ambani, JioCinema, Ambani, OTT, Karan Taurani, Taurani, Varun Vyas, Rama Venkat, Savio D'Souza Organizations: Disney, REUTERS, Rights, Reliance Industries, Bloomberg, Reuters, Sun TV Network, Blackstone, Reliance, Star India, Disney's, Disney India, Indian Premier League cricket, Elara Securities, Thomson Locations: India, Bengaluru

☆ Tesla to top $9 bln spending target this year as it rolls out new models
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

The logo of Tesla is seen in Taipei, Taiwan August 11, 2017. The company's spending is, however, expected to return to the $7 billion and $9 billion range in the next two years, a regulatory filing showed. He warned that rising interest rates could impact demand at Tesla, on top of a margin-sapping price war this year to maintain sales. Tesla shareholders -- including Gary Black, managing partner of The Future Fund, which owns Tesla stock -- have been calling for the automaker to advertise, saying that price cuts have only had a limited impact on demand. Reporting by Aditya Soni and Juby Babu; Editing by Maju Samuel and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Tesla, Elon Musk, Musk, Gary Black, Aditya Soni, Juby Babu, Maju Samuel, Savio D'Souza Organizations: Tesla, REUTERS, Fund, Thomson Locations: Taipei, Taiwan, Mexico

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 23 (Reuters) - The U.S. Justice Department has sought documents and issued subpoenas to Tesla (TSLA.O) as it scrutinizes the automaker's driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regulatory filing it has received requests for information "including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features" and other requests "associated with personal benefits, related parties, vehicle range and personnel decisions." Reuters reported in October 2022 that Tesla was under a Justice Department criminal investigation over claims the company's electric vehicles can drive themselves, citing people familiar with the matter. The company's spending is, however, expected to return to the $7 billion to $9 billion range in the next two years, a regulatory filing showed.

Persons: Mike Blake, Tesla, Elon Musk, Musk, Aditya Soni, Juby Babu, David Shepardson, Maju Samuel, Savio D'Souza, Jonathan Oatis Organizations: Tesla, Beta, REUTERS, U.S . Justice Department, DOJ, Reuters, Justice Department, Street, Chief, Traffic, Administration, Thomson Locations: Encinitas , California, U.S, Mexico

While enterprise demand stabilized for legacy products, that has not extended to cloud computing, the mainstay for Microsoft and Amazon. Alphabet and Meta are set to benefit from an uptick in digital ad sales ahead of the holiday-shopping season. Last month, media research and investment firm Magna raised its forecast for U.S. ad spending growth to 5.2%, from 4.2%, for calendar 2023. Reuters GraphicsAmazon, however, is expected to be shielded by strong retail sales, thanks to a strong labor market. Meta reports on Wednesday and Apple will round off Big Tech earnings with results next week, on Nov. 2.

Persons: Gil Luria, It's, Rishi Jaluria, Yuvraj Malik, Zaheer Kachwala, Sayantani Ghosh, Savio D'Souza Organizations: Apple, Facebook, Google, Microsoft, D.A, RBC Capital, Nvidia, RBC, Google Services, Magna, Amazon Web Services, Reuters Graphics, Big Tech, Thomson Locations: Davidson, Bengaluru

☆ Elon Musk's X to launch premium subscriptions soon
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 20 (Reuters) - Elon Musk said on Friday social media platform X, formerly known as Twitter, will soon launch two new tiers of premium subscriptions. Earlier this week, the company started charging new users $1 in New Zealand and the Philippines as a test case for accessing the platform. Musk has acknowledged that the platform has taken a hit on revenue and has blamed activists for pressuring advertisers. To generate revenue, Musk started charging $8 per month for the blue check subscription service and tried to woo advertisers back to X with offers of discounts.

Persons: Dado Ruvic, Elon Musk, Musk, Gursimran Kaur, Supantha Mukherjee, Savio D'Souza, Jason Neely Organizations: Twitter, REUTERS, Supantha, Thomson Locations: New Zealand, Philippines, Bengaluru, Stockholm

☆ Tesla raises US price of Model X Plaid all-wheel drive by 5.6%
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Tesla Model X electric vehicle is shown in this picture illustration taken in Moscow, Russia July 23, 2020. Picture taken July 23, 2020. REUTERS/Evgenia Novozhenina/File photo Acquire Licensing RightsOct 19 (Reuters) - Tesla (TSLA.O) has increased the price of its Model X Plaid all-wheel drive to $94,990 from $89,990 in the United States, the electric vehicle maker's website showed on Thursday. Higher financing costs meant the price of the popular Model Y SUV was "almost unchanged" for consumers despite price cuts, Musk said. Earlier this month, Tesla cut prices for its Model 3 and Model Y vehicles in the U.S.

Persons: Evgenia, Elon Musk, Tesla, Musk, Chandni Shah, Sohini Goswami, Savio D'Souza Organizations: Tesla, REUTERS, Plaid, Thomson Locations: Moscow, Russia, United States, Bengaluru

☆ Chinese-owned pork producer Smithfield prepares for US listing -WSJ
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A painted pig stands on the lawn of Smithfield Foods executive offices in Smithfield, Virginia May 30, 2013. REUTERS/Rich-Joseph Facun/File Photo Acquire Licensing RightsOct 18 (Reuters) - Smithfield Foods' Chinese owner WH Group (0288.HK) is working with banks to take the U.S.-based pork producer public again in the United States, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Smithfield could list its shares as early as next year, the WSJ reported, adding the deliberations are ongoing and the timing could change. Smithfield and WH Group did not immediately respond to a Reuters request for comment. WH Group bought Smithfield in 2013 in a $4.7-billion deal aimed at tapping the massive supplies of U.S. meat for export to China.

Persons: Joseph Facun, Rishabh, Savio D'Souza Organizations: Smithfield Foods, REUTERS, WH, Wall Street, WSJ, WH Group, Missouri Worker, Thomson Locations: Smithfield , Virginia, HK, U.S, United States, Smithfield, China . Virginia, Missouri, Bengaluru

☆ UBS pushes out S&P 500 mid-2024 target forecast to year-end
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 16 (Reuters) - UBS said it now expects the S&P 500 (.SPX) to hit 4,700 points only by December 2024, instead of the middle of the year as it forecast earlier, due to expectations of higher-for-longer U.S. interest rates. "The delay ... is primarily related to the recent rapid move higher in interest rates and ... expectations that interest rates will remain higher for longer," said David Lefkowitz, head of chief investment office, U.S. equities, UBS. The fear of higher-for-longer rates has pushed the S&P 500 down about 6% from this year's highs hit late in July. Reporting by Reshma Rockie George and Susan Mathew in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, David Lefkowitz, Lefkowitz, Reshma Rockie George, Susan Mathew, Savio D'Souza Organizations: Swiss, UBS, REUTERS, The Federal, Thomson Locations: Zurich, Switzerland, U.S, Bengaluru

☆ Vista Outdoor to sell sporting products unit in $1.91 bln deal, cuts sales forecast
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

Oct 16 (Reuters) - Vista Outdoor (VSTO.N) said on Monday it would sell its sporting products business in a $1.91 billion deal, although its shares tumbled about 20% in early trading after it cut its full-year sales forecast. The all-cash sale of the sporting products unit, which includes its guns and ammunition business, to privately held Czechoslovak Group a.s. (CSG) is expected to close next calendar year, Vista Outdoor said. Earlier this month, Vista spun off its outdoor products segment, which includes helmets and water bottles, into a separate publicly traded company called Revelyst as part of its previously announced plan. Vista said in a call with analysts and investors that the separation of its sporting and outdoor goods units will be formalized at the closing of its deal with CSG. CSG said it plans to take $1.11 billion of debt financing to fund the deal with Vista Outdoor.

Persons: Andy Keegan, Vista, Fiocchi Munizioni, Juveria Tabassum, Jason Hovet, Jan Lopatka, Savio D'Souza, Shweta Agarwal Organizations: Vista, CSG, Thomson Locations: Ukraine, Prague

The British company gets most of its revenue from the smartphone market, in which it has a 99% share across Google's Android and Apple's iOS devices. Arm shares last closed at $54.08, compared with the IPO price of $51. Such growth would benefit SoftBank, which told investors ahead of the Arm IPO that it plans to remain the majority owner in the company it considers its crown jewel. But some brokerages, including HSBC, urged caution, saying Arm's shares could remain range-bound as uncertainty over a smartphone market recovery pressures earnings. At least 17 brokerages started covering Arm, with an average rating of "buy" and a median price target of $63.50.

Persons: Dado Ruvic, Goldman Sachs, TD Cowen, Roshan Abraham, Savio D'Souza, Anil D'Silva, Shounak Organizations: REUTERS, Holdings, Wall Street, SoftBank, J.P.Morgan, British, Citi, Deutsche Bank, Rosenblatt Securities, Philadelphia Semiconductors, HSBC, Thomson Locations: brokerages, Philadelphia, Bengaluru

Arm shares last closed at $54.08, about two dollars below their IPO price. TD Cowen said Arm faces some challenges from the weak smartphone market, but its current revenue represented an "under-monetization of its importance to the industry". Such growth would benefit SoftBank, which told investors ahead of the Arm IPO that it plans to remain the majority owner in the company it considers its crown jewel. But some brokerages, including HSBC, urged caution, saying Arm's shares could remain range-bound as uncertainty over a smartphone market recovery pressures earnings. But by 8 am ET on Monday, at least 15 brokerages started covering Arm with a mean rating of "buy" and a $60 median price target.

Persons: Dado Ruvic, Morgan, Goldman Sachs, TD Cowen, Roshan Abraham, Savio D'Souza, Anil D'Silva Organizations: REUTERS, Arm Holdings, SoftBank, Citi, Deutsche Bank, Mizuho, HSBC, Thomson Locations: brokerages, British, J.P, Morgan, Bengaluru

☆ Activist investor Peltz boost Disney stake, seeks board seat for himself -WSJ
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

A vehicle drives through the main gate at The Walt Disney Studios the day after the Writers Guild of America (WGA) announced it reached a preliminary labor agreement with major studios in Burbank, California, U.S., September 25, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 8 (Reuters) - Nelson Peltz's Trian Fund Management has increased its stake in Disney (DIS.N) and the activist investor is expected to request multiple board seats, including for himself, the Wall Street Journal reported on Sunday. Trian is now one of Disney's largest investors with a stake worth upward of $2.5 billion after boosting its stake to more than 30 million shares, from roughly 6.4 million shares at the end of the second quarter, the WSJ reported. Trian thinks Disney shares are significantly undervalued and that the company needs a more focused board, the report said, citing people familiar with the matter. Disney and Trian did not immediately respond to a Reuters' request for comment.

Persons: Mario Anzuoni, Nelson, Trian, Peltz, Bob Iger, Urvi, Krishna Chandra Eluri, Savio D'Souza 私たち Organizations: Walt Disney Studios, Writers Guild of America, REUTERS, Management, Disney, Wall Street Locations: Burbank , California, U.S, Bengaluru

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON/SHANGHAI Oct 9 (Reuters) - China's largest vaccines company Zhifei (300122.SZ) will pay British drugmaker GSK (GSK.L) 2.5 billion pounds ($3.05 billion pound) for the exclusive rights to distribute GSK's shingles vaccine in the world's No.2 pharmaceuticals market. The deal with Zhifei is part of its efforts to reach more 4 billion pounds ($4.88 billion) in sales by 2026, GSK said. Zhifei will purchase volumes of Shingrix with a value to GSK worth 2.5 billion pounds over an initial three-year period, GSK said. Zhifei shares were up as much as 20% to 58.40 yuan ($8.00) following the filing, their highest point since March 27. Shingrix is currently GSK's biggest product and strongest growth driver, taking in 1.71 billion pounds in first-half sales, up 20% from a year prior.

Persons: Dado Ruvic, Zhifei, Shingrix, Maggie Fick, Andrew Silver, Eva Mathews, Savio D'Souza, Louise Heavens Organizations: GSK, GlaxoSmithKline, REUTERS, British, AstraZeneca, Zhifei, Barclays, Reuters, Thomson Locations: SHANGHAI, China, United States, London, Shanghai, Bengaluru

The Wall Street Journal was first to report Peltz's push for board seats. Disney had rejected Peltz as a possible board member. Disney has undergone a period of transformation, restructuring the company and streamlining operations to make the business more cost effective. In addition, Disney is laying plans to make its flagship ESPN sports network available via streaming at some point in the future. Facing trouble last year, Disney's board brought Iger out of retirement in November for a second turn at running the company.

Persons: Mario Anzuoni, Nelson Peltz, Mickey Mouse, Peltz's, Trian, Bob Iger, Peltz, Iger, Disney, Disney's, Ed Garden, Matthew, Josh Frank, Svea Herbst, Bayliss, Krishna Chandra Eluri, Savio D'Souza, Tomasz Janowski, Leslie Adler Organizations: Walt Disney Studios, Writers Guild of America, REUTERS, Walt Disney, Peltz's Trian Fund Management, Disney, Peltz, ESPN, Svea, Thomson Locations: Burbank , California, U.S, Disney, New York, Rhode Island, Bengaluru

☆ India's TCS to consider share buyback next week
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 6 (Reuters) - India's Tata Consultancy Services (TCS.NS) on Friday said it will consider a share buyback when its board meets next Wednesday to approve second-quarter financial results. TCS, India's largest information technology (IT) services firm, did not disclose the quantum of the buyback it was considering. It had last bought back shares worth 160 billion rupees ($1.92 billion) in 2020. The buyback comes at a time Indian IT services companies are grappling with an uncertain demand environment, especially in the U.S., a key market for the sector. ($1 = 83.1740 Indian rupees)Reporting by Chris Thomas in Bengaluru; Editing by Savio D'Souza and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Thomas, Savio D'Souza, Varun Organizations: India's Tata Consultancy Services, TCS, Investors, Thomson Locations: BENGALURU, Indian, U.S, Bengaluru

☆ India central bank keeps key rate steady; liquidity measures in focus
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

A Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Oct 6 (Reuters) - The Reserve Bank of India's key lending rate was held steady at a fourth consecutive policy meeting on Friday, as widely expected, with investors more focused on the regulator's liquidity management plan amid a resurgence in inflation. The country's monetary policy committee (MPC) kept the repo rate (INREPO=ECI) unchanged at 6.50%, in a unanimous decision. It has raised rates by 250 basis points (bps) since May 2022 in a bid to cool surging prices. High inflation has put the focus back on liquidity management amid the reduced ability to keep hiking rates at the risk of hurting growth and commentary and further measures, if any, are being closely monitored by market participants.

Persons: Francis Mascarenhas, Das, Swati Bhat, Sudipto Ganguly, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, Reserve Bank of, Reuters, Thomson Locations: Mumbai, India, Rights MUMBAI

☆ Disney in talks with Adani, Sun TV to sell India assets -Bloomberg News
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

Disney is exploring various possibilities, including selling some of its Indian operations or a mix of assets from the unit, the report said, citing people familiar with the matter. Disney, Sun TV and the Gautam Adani-controlled Adani group did not immediately respond to Reuters' request for comment. Disney was exploring options to sell or find a joint venture partner for its India digital and TV business, Reuters reported in July. Disney has faced increasing pressure due to the emergence of Reliance Industries' (RELI.NS) streaming platform JioCinema, run by Asia's richest man, Mukesh Ambani. Ambani has been marketing his streaming platform by offering free access to the Indian Premier League cricket tournament, digital rights of which were earlier with Disney.

Persons: Dado Ruvic, Gautam Adani, Kalanithi Maran, Gautam, Disney, Mukesh Ambani, Ambani, Navamya Ganesh, Savio D'Souza Organizations: Disney, REUTERS, Rights, Sun TV Network, Bloomberg, Sun TV, Reuters, Reliance Industries, Indian Premier League cricket, Thomson Locations: India, Bengaluru

☆ Indian IT firms set for "washout" year, focus now on 2025 - J.P.Morgan
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/File Photo Acquire Licensing RightsBENGALURU, Oct 5 (Reuters) - J.P.Morgan analysts expect investors to parse upcoming second-quarter results and commentary from Indian IT companies for signs of recovery in deal signings in fiscal 2025 following a "washout" year. The focus for this quarter's earnings reports will be on deal signings as well as the split of new deals versus renewals to assess fiscal 2025 growth, the analysts said. J.P.Morgan expects high single-digit earnings growth, in percentage terms, for large-cap IT companies in fiscal 2025, while market expectations are for double-digit growth. Nonetheless, J.P.Morgan upgraded Infosys (INFY.NS) to "neutral" from "underweight" saying lower expectations were baked in and its large deal wins give visibility into fiscal 2025.

Persons: Vivek Prakash, Ankur Rudra, Bhavik Mehta, Rudra, Mehta, Navamya Ganesh, Savio D'Souza, Janane Organizations: Indian, Infosys, REUTERS, Rights, TCS, Wipro, J.P.Morgan, Thomson Locations: Electronic, Bangalore, Indian, Bengaluru

☆ Singapore SPAC Vertex Tech to buy streaming platform for up to $676 mln
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

Oct 2 (Reuters) - Singapore's Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million (about $676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday. The pro-forma equity value of the proposed deal will be up to S$1.16 billion, VTAC said. "We see 17LIVE as a company at its inflection point, backed by a strong management bench," VTAC Chief Executive Jiang Hong Hui said. VTAC will issue up to 160.6 million new shares at S$5.00 each and another 24.4 million new shares once certain financial targets are met. ($1 = 1.3682 Singapore dollars)Reporting by Adwitiya Srivastava in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: VTAC, 17LIVE, Jiang Hong Hui, Adwitiya Srivastava, Savio D'Souza Organizations: Technology, Corp, Temasek, 17LIVE, Thomson Locations: Japan, Taiwan, Singapore, Bengaluru

☆ China's Dalian Wanda in talks to avert $4 bln IPO repayment -Bloomberg News
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: 1 min

A person walks past the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. REUTERS/Tingshu Wang Acquire Licensing RightsSept 28 (Reuters) - China's Dalian Wanda Group has started negotiations on a proposal that would allow the conglomerate to avoid repaying about 30 billion yuan ($4.11 billion) to investors in its shopping mall business if the unit fails to complete its initial public offering this year, Bloomberg News reported on Thursday. The Chinese conglomerate recently told investors that an IPO of the mall unit will likely take place next year, Bloomberg reported, people familiar with the matter. (This story has been refiled to fix a typo in the headline)($1 = 7.3067 yuan)Reporting by Urvi Dugar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Urvi, Savio D'Souza Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Bloomberg, Thomson Locations: China, Bengaluru

☆ Ex-Apple designer Ive, OpenAI's Altman discuss AI hardware -The Information
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 26 (Reuters) - Apple's (AAPL.O) former design chief, Jony Ive, and OpenAI CEO Sam Altman have been discussing building a new artificial intelligence (AI) hardware device, The Information reported on Tuesday, citing two people familiar with the matter. SoftBank (9984.T) CEO Masayoshi Son has also been involved in some aspects of the conversation but it is unclear if he will remain involved, the report said. Ive and LoveFrom could not be reached for comment. Ive left Apple in 2019 and subsequently co-founded design firm LoveFrom with fellow designer Marc Newson.

Persons: Dado Ruvic, Jony Ive, Sam Altman, SoftBank, Masayoshi Son, OpenAI, Steve Jobs, Marc Newson, Evelyn Nikhila, Savio D'Souza Organizations: REUTERS, Apple, Ferrari, Microsoft, Thomson Locations: Bengaluru

☆ Amazon to roll out ads on Prime Video in 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of streaming service Amazon Prime Video is seen in this illustration picture taken March 5, 2021. REUTERS/Danish Siddiqui/Illustration/File Photo Acquire Licensing RightsSept 22 (Reuters) - Amazon (AMZN.O) Prime Video will next year join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier, as the industry grapples with a slowdown in subscriber growth since the pandemic. Amazon's ad-free tier will cost another $2.99 per month in the U.S., where a Prime subscription currently costs $14.99 per month, or $139 per year. Amazon already shows ads on live event content such as NFL's Thursday Night Football, a practice that will continue even if the subscriber has paid for the ad-free plan, the company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D'Souza and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Danish Siddiqui, Amazon's, Walt Disney, Samrhitha, Savio D'Souza, Krishna Chandra Organizations: Amazon, REUTERS, Danish, Netflix, Disney, Thomson Locations: U.S, Germany, Canada, France, Italy, Spain, Mexico, Australia, Bengaluru

☆ UK's Mothercare says it expects to complete refinancing shortly
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Sept 22 (Reuters) - Mothercare (MTC.L) expects to complete a refinancing shortly and will remain in discussions with stakeholders and financing partners to ensure adequate financing, the British baby products retailer said on Friday. Mothercare also posted a 44% drop in its full-year adjusted core profit to 6.7 million pounds ($8.21 million), which sent the London-listed company's stock tumbling 15.6% in early trade. The company has been struggling with the unprecedented demand shock caused by the pandemic, the Russia-Ukraine conflict and high interest rates. Its total cash was 7.1 million pounds as of March 25, down from 9.2 million pounds, a year ago. ($1 = 0.8159 pounds)Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mothercare, Daniel Le Vesconte, Aatrayee Chatterjee, Savio D'Souza Organizations: Thomson Locations: London, Russia, Ukraine, Bengaluru

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