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☆ Coinbase says Apple blocked its last app release on NFTs in wallet
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

Dec 1 (Reuters) - Coinbase Global Inc (COIN.O) said on Thursday customers using Apple Inc's (AAPL.O) iOS will not be able to send non-fungible tokens (NFTs) on the cryptocurrency exchange's wallet anymore. "Apple's claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee," Coinbase Wallet added in a tweet. Coinbase said it would not be able to comply with the requirement even if it tried as the iPhone maker's proprietary in-app purchase system does not support crypto. Coinbase's issue with Apple comes at difficult time for the crypto exchange, whose shares are down roughly 80% so far this year. Reporting by Manya Saini in Bengaluru; Editing by Sriraj Kalluvila and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ CNN informs employees that layoffs are underway - CNN reporter tweet
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are underway, according to a CNN reporter's tweet. loadingA representative for CNN did not immediately respond to a Reuters request for comment. Licht said CNN would notify a limited number of individuals, largely some of its paid contributors on Wednesday and the impacted employees on Thursday, according to the tweet. Reporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Former U.S. President Clinton tests positive for COVID
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Former U.S. President Bill Clinton said in a tweet on Wednesday that he has tested positive for COVID-19 and experiencing mild symptoms. "I'm grateful to be vaccinated and boosted, which has kept my case mild," he said. loadingFew weeks ago, U.S. Centers for Disease Control and Prevention (CDC) director Rochelle Walensky and U.S. Food and Drug Administration Commissioner Robert Califf had also tested positive with COVID symptoms. Reporting by Akriti Sharma and Khushi Mandowara in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Snowflake quarterly net loss widens as expenses rise
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Data cloud company Snowflake (SNOW.N) on Wednesday posted a bigger quarterly loss, hit by a sharp jump in its research and development and marketing expenses. However, Snowflake beat Wall Street estimates for third-quarter revenue and profit on strong demand for the company's data storage and analytics services. Net loss attributable to the company in third-quarter widened to $201 million, or 63 cents per share, from $155 million, or 51 cents per share, a year earlier. The company's total operating expenses in the quarter jumped about 54% to $572.3 million. The company's revenue rose 67% to $557 million, beating analysts' average expectation of $539.1 million, according to IBES data from Refinitiv.

☆ YouTube says fixing issues after reported outages
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Alphabet Inc's (GOOGL.O) YouTube said it is working to fix an issue after the platform was down for thousands of users on Wednesday. "We're aware that many of you using the YouTube app on iOS devices may be experiencing crashes," tweeted YouTube, adding that updates will come soon. Downdetector, which showed there were more than 6,000 incidents of people reporting issues with YouTube, tracks outages by collating status reports from a number of sources, including user-submitted errors on its platform. The outage may be affecting a larger number of users. Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. FDA gives first-ever approval to fecal transplant therapy
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

The therapy, Rebyota, targets Clostridium difficile, or C. difficile – a superbug responsible for infections that can cause serious and life-threatening diarrhea. While this is the first such therapy approved by the Food and Drug Administration (FDA) for recurrent C. difficile infections, fecal microbiota transplants – classified by the regulator as investigational – have long been the standard of care in the U.S. for this condition. Approval for the therapy comes on the back of a positive vote from the regulator's advisers in September, as most on the panel sought standardization of the therapy. Ferring, which gained the therapy through its 2018 purchase of U.S.-based Rebiotix Inc, was not immediately available for a comment on pricing and availability of the therapy. Besides Ferring, other companies including Seres Therapeutics (MCRB.O), which is developing an oral treatment, are working on similar therapies based on fecal microbiota transplantation.

☆ CNN informs employees that layoffs are under way - memo
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are under way, according to an email seen by Reuters. Licht said CNN would notify a limited number of individuals, largely some of its paid contributors on Wednesday and the impacted employees on Thursday, according to the memo. "I know these changes affect both our departing colleagues and those who remain," Licht wrote. In October, Licht had warned CNN would be undergoing changes, citing "widespread concern over the global economic outlook." The changes would affect "people, budgets and projects," Licht had said.

☆ Foot Locker CFO Andrew Page to step down
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

Nov 29 (Reuters) - Foot Locker Inc (FL.N) said on Tuesday finance chief Andrew Page will move out of his role to pursue other opportunities following the company's fourth quarter 2022 earnings. The footwear retailer said it was initiating a search to identify Page's successor. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ CrowdStrike forecasts current-quarter revenue below estimates
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - CrowdStrike Holdings Inc (CRWD.O) on Tuesday forecast fourth-quarter revenue below Wall Street estimates, as an economic downturn hit spending for its cyber security services. The company expects revenue between $619.1 million and $628.2 million, compared with analysts' average estimate of $632.8 million, according to Refinitiv IBES data. CrowdStrike also said increased macroeconomic headwinds elongated sales cycles with smaller customers, and caused some larger ones to pursue multi-phase subscription start dates, which delays annual recurring revenue (ARR) recognition until future quarters. Total revenue for the third quarter was $580.8 million. On an adjusted basis, the company earned 40 cents for the quarter ended Oct. 31, compared to estimates of 31 cents.

☆ Faraday Future product head resigns - Bloomberg News
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Electric-vehicle startup Faraday Future Intelligent Electric's (FFIE.O) head of product execution, Robert Kruse, has resigned, Bloomberg News reported on Tuesday, citing people familiar with the matter. The reported move comes a day after Faraday Future appointed Xuefeng Chen as global chief executive officer, after its board removed Carsten Breitfeld from the role. read moreThe company, whose shares fell nearly 1% in extended trading, did not immediately respond to a Reuters request for comment. Los Angeles-based Faraday Future said in September it had reached a deal with its largest shareholder to resolve a governance dispute, adding that Sue Swenson would step down as executive chairperson. read moreEarlier in August, several employees of Faraday Future had called on the board and shareholders to remove Swenson alleging the executive chairperson had organized attempts to "push the company into bankruptcy and restructuring".

☆ Twitter blue verified set to launch on Apple's iOS app - Information
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS (AAPL.O) mobile software, the Information reported on Tuesday, citing a person briefed on the plans. As Twitter plans to launch the subscription offering via an update to Twitter's iOS app, it needs Apple's approval as part of the standard app review process, the report said, adding that the company would update its Android app later. Twitter did not immediately respond to a Reuters request for comment. read moreThe billionaire CEO of Twitter and Tesla said Apple was pressuring Twitter over content moderation demands. Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Shell to buy Danish firm Nature Energy for nearly $2 billion
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

Nov 28 (Reuters) - Shell (SHEL.L) said on Monday it would acquire Danish biogas producer Nature Energy for nearly $2 billion, as it looks to boost its low-carbon business amid growing interest in biogas. Reuters had reported last month Shell was among a number of companies joining a second bidding round to acquire the Denmark-based company. Nature Energy, which operates 12 biogas plants in Denmark and one in France and has others in the pipeline, confirmed the deal in a separate statement. Reporting by Muhammed Husain in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto exchange Kraken settles U.S. investigation over alleged Iran sanctions violations
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Crypto exchange Kraken has agreed to pay a fine to settle civil liability related to apparent violations of sanctions on Iran, the U.S. Treasury Department's Office of Foreign Assets Control said on Monday. As part of the settlement with OFAC, Kraken will pay about $362,000, and "invest an additional $100,000 in certain sanctions compliance controls." "Even before entering into this resolution, Kraken had taken a series of steps to bolster our compliance measures," Santori added. According to the OFAC statement, Kraken's platform processed 826 transactions for users located in Iran between roughly October 2015 to June 2019. In October, the Treasury Department had also fined crypto exchange Bittrex Inc $29 million in fines for "apparent violations" of sanctions on certain countries and anti-money laundering law.

Companies Honeywell International Inc FollowNov 18 (Reuters) - Honeywell International Inc (HON.O) will pay $1.3 billion to end asbestos-related claims stemming from its former unit, the industrial giant said on Friday, helping it reduce its environmental liabilities. Honeywell said the one-time, lump sum payment will have 'limited obligations' to the trust following the completion of the deal. The company's former unit, North American Refractories Company (NARCO), had filed for bankruptcy in 2002 after facing lawsuits over asbestos-related illnesses. Following the bankruptcy, Honeywell set up the compensation trust to resolve billions of dollars worth of asbestos claims. Additionally, the North Carolina-based company reaffirmed its previously announced full-year and fourth-quarter outlook.

☆ Musk says Twitter reinstates banned users Griffin, Peterson; no decision on Trump yet
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Twitter has reinstated the accounts of U.S. comedian Kathy Griffin and academic Jordan Peterson, Elon Musk said on Friday, adding that a decision to bring back former U.S. President Donald Trump's account is yet to be made. Musk confirmed the move in a tweet, adding that the account of satirical website Babylon Bee was also reinstated. The comment came as Griffin's account was banned earlier this month after the U.S. comedian changed her name to Elon Musk. Twitter had also paused its recently announced $8 blue check subscription service last Friday as fake accounts mushroomed. read moreThe fake accounts purporting to be big brands, included those of Musk's Tesla and SpaceX, as well as Roblox, Nestle and Lockheed Martin.

☆ TSX falls as commodity stocks weigh
▼ + stars: | 2022-11-17 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 130.67 points, or 0.65%, at 19,827.29, extending losses from the previous session. "I think they're still on track for another hike," said Greg Taylor, portfolio manager at Purpose Investments. IRPR#0BOCWATCHAmong stocks, TC Energy (TRP.TO) said that the weather-related issues that prompted it to halt deliveries through its Keystone oil pipeline have been resolved. Restaurant Brands International (QSR.TO) rose 1.3% after it said that its coffee chain brand Tim Hortons had forged a two-year partnership with Alibaba Group's grocery chain. Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Potentia seeks access to Nitro's books to counter Alludo's bid
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Australia's Nitro Software Ltd (NTO.AX) said on Friday that suitor Potentia Capital has sought access to its books in a bid to potentially increase its proposal to outmatch a rival offer made by KKR Inc's (KKR.N) Alludo. The software provider earlier this week determined that the near A$500 million ($335 million) offer from Alludo, of A$2.00 per share, to be superior to the takeover offer made by Potentia. Major shareholder Potentia is now seeking access to Nitro's due diligence information to "meet or exceed" Alludo's offer, stating that the tech-focused private equity firm may also consider offering stocks to Nitro shareholders as part of the deal. "The current Potentia takeover offer of A$1.80 cash per share is not affected by the revised Potentia proposal and remains open for acceptance by Nitro shareholders," Nitro said. The company said its board continues to recommend shareholders reject the current Potentia offer in place.

☆ Mark Cuban-backed fintech Dave says no customers exposed to FTX
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Entrepreneur Mark Cuban-backed Dave Inc (DAVE.O) said on Thursday none of its customers were exposed to FTX and it has not launched any products in partnership with the beleaguered cryptocurrency exchange. FTX had invested $100 million in the fintech in March, through FTX ventures, to expand Dave's digital assets offerings and the company had said FTX US would be its exclusive partner for crypto. "We have not launched any products in partnership with FTX and no customers are exposed through Dave," the company spokesperson said in an emailed statement to Reuters. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled billions from the platform in three days and rival exchange Binance abandoned a rescue deal. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Ontario Teacher's pension fund to write down investments of $95 mln in FTX
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - Canada's Ontario Teachers' Pension Plan said on Thursday it will be writing down about $95 million of investments it had made in bankrupt cryptocurrency exchange FTX Group by the end of the year. Reporting by Leroy Leo in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Applied Materials forecasts strong Q1 revenue on easing supply chain woes
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Chip tools maker Applied Materials Inc (AMAT.O) forecast first-quarter revenue above market estimates on Thursday, on hopes that easing supply chain constraints will help it meet pent up demand from chipmakers ramping up production. Shares of the Santa Clara, California-based company rose nearly 3% in trading after the bell. The company posted revenue of $6.75 billion for the fourth quarter ended Oct. 30, compared to analysts' average expectation of $6.45 billion, according to Refinitiv IBES data. The company forecast current-quarter revenue of $6.70 billion, plus or minus $400 million, compared with analysts' average estimate of $6.45 billion. Applied said the outlook includes expected impact of recently announced U.S. export regulations and ongoing supply chain challenges.

☆ Bourse operator ASX flags $172 mln hit from clearing software replacement halt
▼ + stars: | 2022-11-16 | by ( Simon Jessop | ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Australian bourse operator ASX Ltd (ASX.AX) said on Thursday it would take a pretax charge of up to A$255 million ($172 million) in the first half, as it derecognises the software being developed to replace its ageing clearing and settlement system. The replacement has been halted following a review of the project and independent findings that led ASX to conclude there were "significant technology, governance, and delivery" challenges. The software was intended to replace ASX's Clearing House Electronic Subregister System (CHESS) to improve functionality and efficiency, and adopt global standards, the bourse says on its website. All current activities on the replacement project have been paused as ASX revisits the solution design, the bourse said. It also appointed Tim Whiteley, a technology transformation executive, as the new project director for the next phase of the replacement project.

☆ Sonos CEO sees upbeat holiday season as supply snarls ease
▼ + stars: | 2022-11-16 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

Sonos is seeing strong demand for its $349 entry-level sound bar Ray and the wireless loudspeaker Sub Mini priced at $429, Spence said. Still, the company added only 1.4 million net new households in the period, compared with 1.8 million a year earlier. "China is important in terms of our overall supply chain, but we are also in Malaysia and Vietnam. So, we have also recreated a more resilient supply chain," Spence said. Sonos is also under pressure from a strong dollar, which is expected to shave off $79 million from sales in 2023.

Nov 16 (Reuters) - A panel of advisers to the U.S. health regulator on Wednesday recommended the approval of Ardelyx Inc's (ARDX.O) drug for chronic kidney disease patients on dialysis, more than a year after it was initially rejected. The Food and Drug Administration's advisory panel voted 9-4 in favor of the drug, tenapanor, to be administered as a single therapy for treating high phosphate levels in the blood of patients on dialysis. The advisers also voted 10-2 in favor of the drug's use alongside existing treatment. It is probably better than nothing," said a panel member C. Noel Bairey Merz from Cedars-Sinai Medical Center in Los Angeles. The FDA had called the advisers' meeting due to Ardelyx's appeal against the drug's initial rejection.

☆ Estee Lauder to buy fashion label Tom Ford in $2.8 billion deal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Estee Lauder Cos Inc (EL.N) said on Tuesday it agreed to buy U.S. fashion label Tom Ford for $2.8 billion, its biggest deal yet, adding a line of beauty products and apparel to the Clinique brand owner's portfolio. While Estee Lauder already sells Tom Ford beauty products and fragrances, the deal has raised some eyebrows on Wall Street. (https://reut.rs/3tqhWrK)As of Tuesday's close, Estee's stock fell 17% since the deal talks with Tom Ford were reported by the media in August. Tom Ford had entered into exclusive negotiations with Estee Lauder last week, beating competing bids from companies including Gucci owner Kering SA (PRTP.PA), the Financial Times reported on Friday. Chief Executive Officer Tom Ford will continue to serve as the brand's creative visionary.

☆ Apple prepares to source chips from Arizona plant - Bloomberg News
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Apple Inc (AAPL.O) is preparing to begin sourcing chips for its devices from a plant under construction in Arizona in the United States, Bloomberg News reported on Tuesday. According to the report, Cook was likely referring to an Arizona factory that will be run by Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chipmaker and a major supplier to Apple. Earlier this month, TSMC also said it was constructing a building that could serve as its second chip factory in Arizona. read moreThe United States has been encouraging foreign tech firms to manufacture in the country and has actively supported local research, development and manufacturing after passing its CHIPS Act. Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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