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☆ FTSE 100 inches higher on Fed pause bets; ECB decision on watch
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 up 0.3%, FTSE 250 flatSept 14 (Reuters) - UK's FTSE 100 opened higher on Thursday after U.S. inflation data bolstered bets that the Federal Reserve will keep interest rates steady next week, while Melrose and Unite Group fell in ex-dividend trading. The exporter-heavy FTSE 100 index (.FTSE) edged up 0.3% in early trade, while the domestically focussed FTSE 250 index (.FTMC) was flat. Shares of real estate firm Unite Group (UTG.L), product testing company Intertek Group (ITRK.L) and aerospace supplier Melrose (MRON.L) declined between 0.5% and 1.5% as they traded ex-dividend. Reporting by Siddarth S in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Siddarth, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Federal Reserve, Melrose, Unite Group, European Central Bank, Unite, Intertek, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

☆ Trucking firm Estes Express submits revised $1.525 bln bid for Yellow's shipment centers
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

Yellow said Estes' new bid is the best and superior to Old Dominion Freight Line Inc's (ODFL.O) $1.5 billion August stalking horse bid. Privately held Estes had submitted a $1.3 billion bid last month to acquire Yellow's shipment centers. A stalking horse bid is an initial bid on the assets of a bankrupt company, setting the low-end bidding bar so that other bidders cannot underbid the purchase price. "Estes Stalking Horse Bid is an improvement over the Old Dominion Bid because it offers more money for the Acquired Assets and less fees in terms of bid protections," Yellow said in a filing with the U.S. Bankruptcy Court in Delaware. The nearly 100-year-old company filed for bankruptcy with just $39 million cash on hand, which it said was not enough to run a months-long bankruptcy sale for its 12,000 trucks, real estate holdings and other assets.

Persons: Mike Blake, Yellow, Estes, Ducera, Juby Babu, Subhranshu Sahu Organizations: U.S, Trucking, Express, Old Dominion, Old, Bankruptcy, Ducera Partners, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Delaware, Bengaluru

☆ Apollo Global among suitors for IGT's global gaming division- Bloomberg News
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 13 (Reuters) - Private equity giant Apollo Global Management (APO.N) is among the potential suitors seeking to acquire International Game Technology's (IGT.N) global gaming division, Bloomberg News reported on Wednesday. IGT's gaming unit could fetch $4 billion to $5 billion in a sale, including debt, the report said, citing people with knowledge of the matter. Apollo Global did not immediately respond to a Reuters' request for comment and IGT could not be reached for comment. UK-based IGT said in June that it was exploring strategic alternatives for its global gaming and PlayDigital segments, which includes, but is not limited to, a sale. Reporting by Jose Joseph in Bengaluru; Editing by Shailesh Kuber and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, IGT, Jose Joseph, Shailesh Kuber, Subhranshu Organizations: Game Technology PLC, New York Stock Exchange, REUTERS, Apollo Global Management, Bloomberg, Apollo, Thomson Locations: Bengaluru

The lower-ranking Federal Court in 2021 found Qantas broke the law by outsourcing the ground handling jobs, but the airline appealed the ruling in the High Court which upheld the decision on Thursday. The matter now returns to the Federal Court which will decide penalties and compensation for affected employees. "These workers have been put through hell," said Michael Kaine, secretary of the Transport Workers Union (TWU) which brought the lawsuit. Qantas said in a statement that it accepted the High Court decision and noted the Federal Court had already ruled out forcing the company to reinstate the workers. It said it had already made an unspecified provision in its accounts for penalties and compensation for affected employees after the Federal Court decision.

Persons: David Gray, Michael Kaine, Kaine, Byron Kaye, Roushni Nair, Subhranshu Sahu, Jamie Freed Organizations: Qantas Airways Airbus, Sydney Airport, REUTERS, Rights, Qantas Airways, Australia, Qantas, Qatar Airways, Federal, Transport Workers Union, Thomson Locations: Australia, Sydney, Bengaluru

☆ FTSE 100 falls on worries about U.S. rates; Melrose jumps
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.4%, FTSE 250 off 0.3%Sept 7 (Reuters) - UK's FTSE 100 opened lower on Thursday after stronger-than-expected U.S. economic data rekindled concerns that interest rates would stay higher for longer, while aerospace supplier Melrose Industries rose on an upbeat profit outlook. The blue-chip FTSE 100 index (.FTSE) fell 0.4% in early trade, while the mid-cap FTSE 250 index (.FTMC) slipped 0.3%. Wall Street's main indexes tumbled on Wednesday after data showed the U.S. services sector unexpectedly gained steam in August, indicating sticky price pressures. GLOB/MKTSFurther weighing on the exporter-heavy FTSE 100, data showed China's exports and imports fell in August as the twin pressures of sagging overseas demand and weak consumer spending squeezed businesses in the world's second-largest economy.

Persons: Toby Melville, Smith, Siddarth, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Melrose Industries, Prudential, Thomson Locations: Canary Wharf, London, Britain, U.S, Bengaluru

☆ UK's Barratt flags tough housing market conditions after annual profit fall
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A company logo is seen on a banner outside a Barratt Homes housing development in Warrington, Britain, August 23, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsSept 6 (Reuters) - Britain's largest homebuilder Barratt Developments (BDEV.L) flagged difficult trading conditions over the coming months after it posted a fall in annual profit on Wednesday, as high mortgage rates and a cost-of-living squeeze pummel demand. Affordability concerns stoked by high mortgage rates and a prolonged cost-of-living crisis have weighed on the UK housing market, with indicators on everything from mortgage demand to construction rates and prices sliding in recent months. Barratt said the UK housing market remained difficult and the outlook uncertain, adding that it expected average sales sites to reduce by around 6% in the current fiscal year. British house prices in August were 5.3% lower than a year earlier, their biggest annual decline since July 2009, mortgage lender Nationwide said on Friday.

Persons: Phil Noble, Barratt, David Thomas, Aby Jose Koilparambil, Suban Abdulla, Subhranshu Sahu, Christopher Cushing Organizations: Barratt Homes, REUTERS, FTSE, Nationwide, Credit Suisse, Thomson Locations: Warrington, Britain, Bengaluru, London

The property industry globally, and office building owners in particular, are struggling as working from home and e-commerce lead tenants to reconsider floor space just as higher interest rates reduce building values and raise debt servicing costs. Dexus sold the 18-story A-Grade office for A$293.1 million ($188 million), a 16.3% discount to its December 2022 valuation, according to company filings. Quintessential Equity, an Australian property developer and investor, announced itself as the buyer on its website without elaborating. Dexus will own a A$50 million stake in the trust that will hold the property, it said in a statement. In June, Dexus sold another premium office building in Sydney's central business district for A$393.1 million, a near 17% discount to an independent valuation made in December.

Persons: Loren Elliott, Dexus, Darren Steinberg, Lewis Jackson, Rishav Chatterjee, Subhranshu Sahu, Rashmi Aich, Sam Holmes Organizations: REUTERS, Rights, Reuters, Equity, Thomson Locations: Sydney, New South Wales, Australia, Australian, Bengaluru

☆ BAE snaps up Ball's aerospace arm for $5.6 billion in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. He also confirmed the 1.5 billion pound ($1.91 billion) share repurchase announced with its half-year results. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

Persons: Cheney Orr, Tom Arseneault, Chloe Lemarie, Charles Woodburn, Yadarisa Shabong, Chandini, Susan Mathew, Subhranshu Sahu, Jason Neely, Sharon Singleton Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Shore Capital, Britain's, British, Thomson Locations: Huntsville , Alabama, U.S, Ukraine, Colorado, Bengaluru

☆ Australia's Telstra shelves InfraCo stake sale plan, shares down
▼ + stars: | 2023-08-17 | by ( Poonam Behura | ) www.reuters.com time to read: +2 min

The country's largest telecoms firm decided against selling a stake in InfraCo Fixed, saying the unit "plays an important role" in achieving its long-term goals. InfraCo Fixed posted a 4.1% rise in annual income to A$2.56 billion ($1.64 billion), contributing 11% to Telstra's total income of A$23.25 billion. Telstra is targeting net cost reductions of A$500 million and mid-single digit underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) growth through to FY25. It expects underlying EBITDA between A$8.2 billion and A$8.4 billion for fiscal 2024, higher than A$7.86 billion in the previous year. We remain absolutely committed to delivering our FY25 underlying EBITDA and EPS growth ambitions," Brady said.

Persons: David Gray, Henry Jennings, Vicki Brady, Brady, Poonam Behura, Anil D'Silva, Subhranshu Organizations: Telstra, REUTERS, Australia's Telstra, InfraCo, Marcustoday, TPG Telecom, Thomson Locations: Sydney, Australia, Bengaluru

☆ BAE Systems snaps up Ball Corp's aerospace arm for about $5.55 bln
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. Shares in BAE Systems were down 3% by 0730 GMT. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The proposed deal would be treated as an asset purchase for federal tax purposes, BAE said. ($1 = 0.7856 pounds)Reporting by Yadarisa Shabong in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Cheney Orr, Chloe Lemarie, Charles Woodburn, Morgan Stanley, Yadarisa, Subhranshu Sahu, Jason Neely Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Ball Corp, Jefferies, Reuters, Blackstone Inc, Veritas Capital Fund Management, BAE, General Dynamics Corp, Textron, Britain's, Intelligence, Thomson Locations: Huntsville , Alabama, U.S, Colorado, Bengaluru

☆ BAE snaps up Ball's aerospace arm for $5.6 bln in its biggest deal ever
▼ + stars: | 2023-08-17 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. The war in Ukraine has led to new demand for those in munitions supply chains, Tom Arseneault, head of BAE's U.S. business, told analysts. Shares in BAE Systems fell as much as 4.9%, while Ball Corp rose 2.7% in premarket trading. "We see this deal as a good fit, although slightly expensive," Jefferies analysts led by Chloe Lemarie wrote in a note. The Colorado-based aerospace business made $1.98 billion in revenue and accounted for 13% of Ball's consolidated net sales in 2022.

☆ Australian court fines Dell unit $6.5 mln for misleading customers on discounts
▼ + stars: | 2023-08-14 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyAug 14 (Reuters) - Australia's Federal Court on Monday ordered Dell Technologies Inc's (DELL.N) local unit to pay A$10 million ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country's competition regulator, Dell Australia was found guilty by the Federal Court in June to have misled customers about the prices or discounts on add-on monitors on its website. "This outcome sends a strong message to businesses that making false representations about prices or inflating discounts is a serious breach of consumer law and will attract substantial penalties," said Liza Carver, commissioner of the Australian Competition and Consumer Commission. ($1 = 1.5480 Australian dollars)Reporting by Navya Mittal in Bengaluru; Editing by Rashmi Aich and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Liza Carver, Navya Mittal, Rashmi Aich, Subhranshu Organizations: REUTERS, Monday, Dell Technologies, Dell, Federal Court, Australian Competition, Consumer Commission, Dell Australia, Reuters, Thomson Locations: Manhattan , New York City, U.S, Dell Australia, Bengaluru

☆ Britain's Bellway says new home sales to fall 'materially'
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File PhotoAug 9 (Reuters) - Britain's Bellway (BWY.L) said on Wednesday it would build fewer homes this year and warned that it expects sales completions to drop "materially" amid a sharp housing sector slowdown triggered by higher mortgage rates. Bellway said it built 10,945 homes in the fiscal year ended July 31, slightly down from the guidance of 11,000 units. "In the current financial year, given the level of the order book and prevailing low reservation rates, legal completions are expected to decrease materially," it said in a statement. Bellway, whose builds range from one-bedroom apartments to six-bedroom family homes, said its full-year overall reservation rate fell 28.4% to 156 per week, and it also saw a steep fall from 190 units during the Feb. 1-June 4 period. Bellway's mid-cap competitors Crest Nicholson (CRST.L) and Vistry (VTYV.L) have said high mortgage rates were hampering demand from first-time buyers.

Persons: Toby Melville, Bellway, Barratt, Aby Jose Koilparambil, Suban Abdulla, Subhranshu Sahu, Paul Sandle, Alexander Smith Organizations: REUTERS, FTSE, Berkeley, Thomson Locations: London, Britain, Newcastle, England, Bengaluru

☆ Australian competition regulator rejects $3.2 bln ANZ-Suncorp Bank deal
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucy CraymerAug 4 (Reuters) - Australia's competition regulator said on Friday it had denied authorisation for ANZ Group Holdings (ANZ.AX) to proceed with its proposed A$4.9 billion ($3.21 billion) acquisition of Suncorp Group's banking arm. The Australian Competition and Consumer Commission (ACCC) said it was not satisfied that the acquisition would not lessen competition in the supply of home loans to Australian customers. "Evidence we obtained strongly indicates that the major banks consider the second-tier banks to be a competitive threat," ACCC Deputy Chair Mick Keogh said in a statement. Keogh said the proposed acquisition would further "entrench an oligopoly" structure, with the country's four major banks dominating. "We believe the acquisition will improve competition, which will benefit Australian consumers, particularly in Queensland," ANZ said in a statement, noting that the ACCC's decision can be reviewed by the independent Australian Competition Tribunal.

Persons: Lucy Craymer, Mick Keogh, Keogh, Himanshi, Shri Navaratnam, Subhranshu Organizations: ANZ Bank, REUTERS, ANZ Group Holdings, Suncorp, Australian Competition, Consumer Commission, ANZ, Australian Competition Tribunal, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Queensland, Bengaluru

☆ UK's Domino's Pizza unveils $90 mln share buyback, raises profit forecast
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Britain's Domino's Pizza Group (DOM.L) announced a 70 million pound ($89.78 million) share buyback programme on Tuesday and raised its annual profit forecast range helped by higher orders and sales in the first half of the year. Resilient customer spending has helped the UK hospitality slowly recover from pandemic lows amid pressures from high costs. In the first half of the year, total orders increased 2.8% to 35.4 million, helping the company to post an 8.2% rise in underlying core profit. The company, a franchisee of U.S.-based Domino's Pizza Inc (DPZ.N), said it now expects an underlying core profit of about 132 million pounds - 138 million pounds for the year. Analysts on average had expected 127.6 million pounds, according to a company-compiled consensus.

Persons: Elias Diaz Sese, Radhika Anilkumar, Subhranshu Sahu Organizations: Thomson Locations: U.S, Bengaluru

☆ Albemarle to take 5% stake in Patriot Battery Minerals for Canada lithium
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

Albemarle, the world's biggest lithium producer, is acquiring the stake in Patriot just as the Canadian company estimated its Corvette resource as the biggest hardrock lithium deposit in the Americas. Patriot also agreed to study with Albemarle the viability of a downstream lithium hydroxide plant integrated with its Corvette deposit. The battery metals miner on Monday announced the first mineral resource estimate for spodumene pegmatite at Corvette, which showed deposits of 109.2 million tonnes of lithium oxide. Albemarle will subscribe to about 7.1 million Patriot shares for C$15.29 apiece, a near 7% premium to the stock's July 31 closing price on the TSX Venture Exchange. Patriot's Australia-listed shares jumped as much as 20.7% to A$1.823 by 0053 GMT, posting their biggest intraday percentage gain since March 28.

Persons: pegmatite, Reg Spencer, Blair Way, Echha Jain, Melanie Burton, Subhranshu Sahu Organizations: Battery Metals, Albemarle, Canadian, Monday, TSX Venture Exchange, Patriot, Patriot's, Thomson Locations: Australia, Canada, Albemarle, Americas, Genuity, Patriot's Australia, Bengaluru, Melbourne

☆ BOJ Governor Ueda's comments at news conference
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +4 min

Following are excerpts from BOJ Governor Kazuo Ueda's comments at his post-meeting news conference, which was conducted in Japanese, as translated by Reuters:BOND YIELD"We will not tolerate an increase in the 10-year bond yield above 1% and will step in if it does. ON WHY THE BOJ DECIDED TO MOVE NOW"The inflation forecast for this fiscal year has been revised up quite significantly. The bond market is pretty stable now and we saw uncertainty over the outlook very high. Given uncertainty over the outlook, we decided to pre-empt risks by setting 1% as a loose framework along with the 0% target and the 0.5% yield band." ON WHETHER THE MARKET'S SIDE-EFFECTS OF YCC INCLUDE VOLATILE CURRENCY MARKET MOVES"The BOJ does not target currency rates in guiding monetary policy.

Persons: Kazuo Ueda's, haven't, That's, we're, Leika Kihara, Subhranshu Sahu Organizations: Bank of Japan, Reuters, THE, Thomson Locations: Japan

☆ Reactions to Bank of Japan's monetary policy decision
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

July 28 (Reuters) - The Bank of Japan maintained ultra-low interest rates on Friday but took steps to make its yield curve control policy more flexible, underscoring growing concerns over the rising side- effects of prolonged monetary easing. It also maintained guidance allowing the 10-year yield to move 0.5% around the 0% target, but said those would be "references" rather than "rigid limits". The benchmark 10-year Japanese government bond yield remained at 0.5%, the BOJ's policy ceiling under YCC. "We maintain our view the BOJ will keep its ultra-easy monetary policy settings unchanged this year, and expect USD/JPY to remain solid at 140 by the end of this quarter." MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE, SINGAPORE"By the time the decision come in, we're not surprised given the overnight Nikkei report.

Persons: CAROL KONG, we're, It's, they're, MATT SIMPSON, Subhranshu Organizations: Bank of Japan, Japan's Nikkei, COMMONWEALTH BANK OF, BANK OF SINGAPORE, Nikkei, Thomson Locations: SYDNEY, SINGAPORE, BRISBANE

☆ Macquarie flags lower quarterly profit as commodities arm flounders
▼ + stars: | 2023-07-27 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

Macquarie's Commodities and Global Markets (CGM) unit, its biggest earner, has for several years cashed in on increasing hedging activity amid volatility in oil and gas markets. That had driven the Sydney-based firm's annual earnings to a record A$5.18 billion ($3.53 billion) in fiscal 2023 ended March. While Macquarie did not disclose a profit figure in its quarterly update, Citi Research had expected first-quarter earnings of around A$1 billion ($680.90 million). The analysts noted, however, that Macquarie's earnings may have come in below that. At the end of the quarter, Macquarie's capital surplus stood at A$10.8 billion.

Persons: Shemara Wikramanayake, Macquarie, Harish Sridharan, Navya Mittal, Echha, Subhranshu Sahu, Christopher Cushing Organizations: Macquarie, Citi, Macquarie Group, Macquarie's Commodities, Global Markets, Citi Research, Thomson Locations: Sydney, Bengaluru

☆ Rio Tinto cuts dividend as H1 profit falls to lowest in three years
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, July 26 (Reuters) - Rio Tinto's (RIO.L), (RIO.AX) first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut. Rio, the world's biggest iron ore producer, was cautiously optimistic on China's economy over the rest of the year, CEO Jacob Stausholm said. Average realised prices for Pilbara iron ore slipped to $98.60 per wet metric ton in the first half, 11.1% below last year. The world's largest iron ore producer flagged a shortage of skilled workers in a tight labour market along with supply-chain issues. Additional reporting by Melanie Burton in Melbourne; Editing by Subhranshu Sahu and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Jacob Stausholm, Rio, Rishav Chatterjee, Archishma Iyer, Melanie Burton, Subhranshu Sahu, Christian Organizations: MELBOURNE, Alpha, Thomson Locations: Rio, Beijing, China, Pilbara, Bengaluru, Melbourne

July 25 (Reuters) - The U.S. Federal Trade Commission (FTC) is finalizing its long-awaited antitrust lawsuit against Amazon (AMZN.O) in a move that could ultimately break up parts of the company, Politico reported on Tuesday. The complaint could focus on challenges to Amazon Prime, Amazon rules that the FTC says block lower prices on competing websites, and policies it believes force merchants to use Amazon's logistics and advertising services, the report said. Politico did not mention the exact details of the final lawsuit, but said personnel throughout the agency, including FTC Chair Lina Khan, have homed in on several of Amazon's business practices. The FTC declined to comment and Amazon did not immediately respond to Reuters requests for comment. Last month, the FTC accused Amazon of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel.

Persons: Andy Jassy, Jeff Bezos, Lina Khan, Shivani Tanna, Arun Koyyur, Subhranshu Organizations: U.S . Federal Trade Commission, Amazon, Politico, Amazon Prime, FTC, Thomson Locations: Bengaluru

☆ Logitech raises sales forecast for first half of 2024
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Logitech International (LOGN.S) on Tuesday raised its sales outlook for the first half of its 2024 financial year, in the first set of results since longstanding CEO Bracken Darrell quit the computer peripherals maker last month. The company said it now expects first-half sales of $1.875 billion to $1.975 billion, compared to 1.8 billion to 1.9 billion earlier. It also forecast full year sales of $3.8 billion to $4 billion. Non-GAAP operating profit, meanwhile, was $109 million, better than the $70 million forecast by analysts. After seeing a big jump in sales during the COVID-19 pandemic as people equipped their home offices with the latest keyboards and peripherals, Logitech has been bracing itself for a downturn this year.

Persons: Bracken Darrell, Darrell, John Revill, Subhranshu Sahu, Varun Organizations: Logitech, VF Corp, Thomson Locations: Zurich, Bengaluru

July 17 (Reuters) - Shares of Endeavour Group (EDV.AX), Australia's biggest pub owner, hit a record low on Monday after a surprise state government decision to impose identification checks and gambling limits on poker machine users. Victoria, Australia's second-most populous state, said at the weekend it would make poker machine users register for an ID card to prevent money laundering and set a loss limit in advance to restrict problem gambling. Analysts were divided on the scale of the impact on Endeavour, the country's biggest owner of poker machine licences, given the company does not break out poker machine profit in its results. The change also adds pressure on other states, particularly New South Wales (NSW), to follow suit and heed community demands for greater regulation of poker machine gambling. Australia is home to one-fifth of the world's poker machine licences, the most of any jurisdiction outside Las Vegas.

Persons: Australia's, midsession, Today's, Byron Kaye, Himanshi, Navya Mittal, Subhranshu Sahu, Stephen Coates Organizations: Endeavour Group, Australia's, Analysts, Endeavour, Woolworths, Labor, Jefferies, Thomson Locations: New South Wales, NSW, Sydney, Australia, Las Vegas, Bengaluru

☆ Macquarie to divest U.S. port terminal operator Ceres
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Australian financial conglomerate Macquarie Group (MQG.AX) said on Thursday it would divest its U.S.-based port terminal operator Ceres Terminals, with a source familiar with the matter placing the deal value north of $900 million. The Wall Street Journal in May reported that Macquarie was looking for about $1 billion from the sale, citing sources familiar with the matter. The deal value could be at the lower end of what the Wall Street Journal reported, the source said. However, Ceres Terminals Jacksonville and Intermodal Container Transfer Facility in Jacksonville, managed by Ceres, will not be a part of the deal. They will continue to be owned by MIP III, Macquarie said.

Persons: Macquarie, MIP, MIP III, Craig Mygatt, Roushni Nair, Sameer Manekar, Rishav Chatterjee, Rashmi Aich, Subhranshu Organizations: Macquarie Group, Reuters, Street Journal, Wall Street Journal, Macquarie Infrastructure Partners, Nippon, Macquarie, Thomson Locations: Tokyo, Ceres Terminals Jacksonville, Jacksonville, Bengaluru

☆ Twitter's new chief working on plans to bring advertisers back to platform- FT
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

[1/2] A promoted tweet on Twitter app is displayed on a mobile phone near a Twitter logo, in this illustration picture taken September 8, 2022. REUTERS/Florence Lo/IllustrationJune 28 (Reuters) - Twitter's new chief, Linda Yaccarino, is working on a series of plans to bring back advertisers who left the platform under Elon Musk's ownership, including introducing a video ads service, pursuing more celebrities and raising headcount, the Financial Times reported on Wednesday. (This story has been refiled to add source in the headline)Reporting by Juby Babu in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Linda Yaccarino, Juby Babu, Subhranshu Sahu Organizations: REUTERS, Elon, Financial Times, Thomson Locations: Bengaluru

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