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☆ BlackBerry takes a knock as cybersecurity revenue drop clouds automotive demand
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A sign is displayed on the building Blackberry's offices in Waterloo, Ontario, Canada, May 29, 2018. The company said in an earnings call that cybersecurity segment revenue in the third quarter is expected to be flat year-on-year. BlackBerry's QNX software is now embedded in over 215 million vehicles worldwide, helped by surging demand for electric vehicles and connected-car technologies. read moreTotal revenue fell 4% to $168 million for the quarter ended Aug. 31, compared with a consensus estimate of $166.7 million, according to IBES data from Refinitiv. Excluding items, the company posted a loss of 5 cents per share, narrower than analysts' expectations of loss of 7 cents.

☆ BlackBerry beats quarterly revenue estimates
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Canada's BlackBerry Ltd (BB.TO), beat analysts' estimates for second-quarter revenue on Tuesday, powered by demand for its QNX automotive software from automakers betting on more connected vehicles. BlackBerry's QNX software is now embedded in over 215 million vehicles worldwide, it said, helped by surging demand for electric vehicles and connected-car technologies. Sales in the Internet of things (IoT) unit, which includes the QNX software, rose about 28% to $51 million in the reported quarter. Revenue fell 4% to $168 million for the quarter ended Aug. 31. The company's net loss narrowed to $54 million, or 10 cents per share, in the three-month period, from a loss of $144 million, or 25 cents per share, a year earlier.

☆ Canopy Growth to divest Canadian retail operations
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

Sept 27 (Reuters) - Canopy Growth Corp (WEED.TO) said on Tuesday it will divest its retail business across Canada, as the pot producer steps up efforts to turn profitable. The business includes stores operating under the Tweed and Tokyo Smoke retail banners. Canopy has been focusing on premium high-potency offerings and has undertaken cost cuts through layoffs, exits from some international markets and store closures in its bid to turn profitable. The master license deal between Canopy and Alimentation Couche-Tard Inc (ATD.TO) related to the use of the Tweed brand for brick-and-mortar retail stores operating in Ontario has also been terminated, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arunima Kumar in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Citi hires six Hispanic-owned firms to underwrite bond offering
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Citigroup Inc said on Tuesday it had hired six Hispanic-owned firms to co-manage its $2.75 billion bond offering, a week after the lender set new diversity goals for its workforce. Citi is the lead underwriter for the offering. The other six firms are Apto Partners LLC, Cabrera Capital Markets LLC, Great Pacific Securities, Guzman & Company, Penserra Securities LLC and Samuel A. Ramirez & Company Inc, the bank said. The move is in honor of the National Hispanic Heritage Month, which is celebrated annually from Sept. 15 to Oct. 15, Citigroup said. Last week, the bank had introduced new diversity goals for gender, race and sexual orientation in its workforce for 2025.

☆ Apollo Global exploring takeover of Ryder System - Bloomberg
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Apollo Global Management (APO.N) is exploring a takeover of freight services provider Ryder System (R.N), Bloomberg News reported on Tuesday citing people with knowledge of the matter. Apollo and Ryder did not immediately respond to Reuters requests for comment. The potential bid comes months after Ryder rejected hedge fund HG Vora Capital Management's offer to acquire the company for $4.4 billion. Last month, Apollo led a group to take air-freight company Atlas Air Worldwide Holdings Inc (AAWW.O) private for nearly $3 billion. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ India’s bond inclusion will be overdue and timely
▼ + stars: | 2022-09-26 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Shailesh AndradeMUMBAI, Sept 26 (Reuters Breakingviews) - A bear market might be a good time to step onto the world stage. India’s sovereign debt is widely expected to be added to the JPMorgan Emerging Market Bond index, tracked by some $220 billion of assets under management. Overall, foreigners own less than 2% of the sovereign market, compared to about 10% in China and over 20% in Indonesia, according to estimates by Morgan Stanley. Inclusion might quickly shepherd over $20 billion of passive funds that track the benchmark, assuming India gets a 10% weighting, matching China and Indonesia. India spread over U.S. bonds is shrinkingFollow @ugalani on TwitterCONTEXT NEWSIndia is expected to be added to JPMorgan’s key emerging market bond index this month, according to multiple analyst and media reports.

☆ Beyond Meat eliminates supply-chain chief role after executive steps down
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mike SegarSept 23 (Reuters) - Beyond Meat Inc (BYND.O) said on Friday it would eliminate the role of chief supply chain officer after Bernie Adcock notified he would step down from the role, effective Sept. 30. The plant-based meat producer said interim chief operating officer and senior vice president of manufacturing operations, Jonathan Nelson, will oversee the company's supply chain responsibilities once Adcock leaves. Beyond Meat added Adcock was leaving to take another opportunity. Earlier this week, Nelson was tasked with overseeing operations on an interim basis after operating chief Doug Ramsey was arrested for allegedly biting a man's nose. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Beyond Meat eliminates supply chain chief role after exec steps down
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

☆ Musk says he will activate Starlink amid Iran protests
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Starlink logo is seen on a smartphone in front of displayed Ukrainian flag in this illustration taken February 27, 2022. The U.S. Treasury Department on Friday issued guidance expanding internet services available to Iranians despite U.S. sanctions on the country, amid protests around Iran following the death of a 22-year-old woman in custody. Musk could not be reached for comments or clarification regarding Starlink's clearance to operate in Iran. The U.S. State Department spokesperson added that if SpaceX were to determine that some activity aimed at Iranians requires a specific license, "OFAC would welcome it and prioritize it". "By the same token, if SpaceX determines that its activity is already authorized and has any questions, OFAC also welcomes that engagement," the State Department spokesperson said.

☆ Musk says activating Starlink, in response to Blinken on internet freedom in Iran
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterStarlink logo is seen on a smartphone in front of displayed Ukrainian flag in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/IllustrationSept 23 (Reuters) - SpaceX CEO Elon Musk said on Friday that he would activate the firm's satellite internet service, Starlink, in response to U.S. Secretary of State Antony Blinken's tweet that the United States took action "to advance internet freedom and the free flow of information" to Iranians. Register now for FREE unlimited access to Reuters.com Register"That would be something that they would need to write into Treasury for," the official said. Musk said on Monday that the company wanted to provide Starlink satellite broadband service - already provided to Ukraine for its fight against Russia's invasion - to Iranians, and would ask for a sanctions exception. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Akash Sriram in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ European lottery group Allwyn calls off SPAC deal to list on NYSE
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterSept 23 (Reuters) - European lottery group Allwyn Entertainment said on Friday it has called off its deal with a blank-check company that would have seen its shares list in New York, citing volatile market conditions. Allwyn struck a merger deal with the blank-check firm Cohn Robbins Holdings Corp (CRHC.N)in January, putting the combined firm's enterprise value at about $9.3 billion at that time. Register now for FREE unlimited access to Reuters.com RegisterAllwyn's announcement comes the same day as the SPAC backed by private equity firm TPG Inc (TPG.O)decided to wind down its operations, also citing market volatility. Cohn Robbins, set up by Gary Cohn, a former economic adviser to former U.S. President Donald Trump, and investor Clifton Robbins, raised $828 million from investors in September 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rhea Binoy in Bengaluru; Editing by Shailesh Kuber and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Two Aveva shareholders plan to oppose Schneider takeover offer
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Scheider Electrics is pictured at the company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles PlatiauSept 23 (Reuters) - Canada-based Mawer Investment Management and M&G Investments, shareholders in Aveva Plc (AVV.L), intend to reject Schneider Electric's (SCHN.PA) 9.5 billion pounds ($10.37 billion) takeover offer, calling the offer "opportunistic". Register now for FREE unlimited access to Reuters.com RegisterEarlier in the day, the Financial Times reported Mawer's plan to reject the offer. The statement resonates with another investor in Aveva, M&G Investments. "M&G is materially underwhelmed with the opportunistic 31-pound offer from Schneider for the remainder of Aveva, and we're disappointed that the Aveva board has recommended the bid to shareholders," Rory Alexander, fund manager, M&G Investments, said.

☆ Costco tops quarterly results on robust consumables demand
▼ + stars: | 2022-09-22 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

A Costco truck makes a delivery to a Costco store in Carlsbad, California, U.S., May 8, 2017. REUTERS/Mike Blake/File PhotoRegister now for FREE unlimited access to Reuters.com RegisterSept 22 (Reuters) - Costco Wholesale Corp (COST.O) topped Wall Street estimates for quarterly results on Thursday, helped by strong demand for its fresh food, candies and fuel offerings despite rising inflation. Register now for FREE unlimited access to Reuters.com RegisterThe membership-only retail chain's strong quarterly results comes at a time when Target Corp reported a fall in quarterly profit as consumers squeezed by higher prices curtailed spending on non-essential items. "That bodes well, since they sell a lot of food and consumables and they help people save money." Register now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. FDA panel votes against Spectrum's lung cancer drug
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File PhotoSept 22 (Reuters) - Advisers to the U.S Food and Drug Administration on Thursday voted against recommending Spectrum Pharmaceuticals' (SPPI.O) experimental drug for the treatment of patients with a form of non-small cell lung cancer. The FDA panel voted 9 to 4 against the oral drug, poziotinib, citing marginal efficacy, high level of toxicities, and lack of dose optimization. Poziotinib is intended to treat non-small cell lung cancer (NSCLC) with a rare genetic mutation that affects 2-4% of total patients with NSCLC. There is no prior FDA-approved treatment for the rare lung cancer, and the patients suffering from the disease are given treatments similar to those with non-small cell lung cancer without the mutation.

☆ Humana, CVS among firms looking to buy Cano Health - reports
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.com RegisterSept 22 (Reuters) - Humana and CVS Health (CVS.N) are among the several companies looking to buy senior-care facility operator Cano Health (CANO.N), according to media reports on Thursday, sending Cano's shares up about 50%. Register now for FREE unlimited access to Reuters.com RegisterCano operates primary-care centers in several U.S. states including California, Florida, Nevada, New Mexico, Texas, Illinois, and New York. (https://bit.ly/3xOAe8D)Cano did not immediately respond to Reuters requests for comment, while Humana and CVS said they do not comment on rumors or speculation. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinalika Roy in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Citigroup plans to wind down UK retail bank as part of strategic refresh
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Chris Helgren/File PhotoSept 21 (Reuters) - Citigroup Inc said on Wednesday it was planning to wind down its retail bank in the United Kingdom, aiming to further streamline operations as part of its chief executive's strategy. Winding down its UK retail bank, which comprises just a single branch, would have no material financial impact on the company, the lender added. In May, executives at JPMorgan said its consumer bank Chase had attracted more than half a million customers in Britain. The UK plans were first reported by the Financial Times, which said Citi is not considering selling its UK retail operations. The bank has begun consultations with its UK retail banking staff, Citi said.

☆ Big U.S. banks' prime rate soars to highest since financial crisis
▼ + stars: | 2022-09-21 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +2 min

A person enters the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. REUTERS/Andrew KellySept 21 (Reuters) - Three major U.S. banks said on Wednesday they will hike their prime lending rates by 75 basis points, bringing the rates to their highest since the global financial crisis of 2008. Central bankers expect to raise the rate to 4.6% by the end of next year, according to the median estimate of all 19 Fed policymakers. read moreA hike in interest rates typically boosts banks' profitability, since they can earn more net interest income - a metric that gauges the difference between the money banks earn on loans and pay out on deposits. However, too high interest rates can tip the economy over into a recession and squeeze consumer demand for loans, which can ultimately hurt lenders.

☆ Federal investigators recommend changes to FDA's EUA policy for tests
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterPeople wait to take coronavirus disease (COVID-19) tests at a pop-up testing site in New York City, U.S., July 11, 2022. REUTERS/Brendan McDermidSept 21 (Reuters) - Federal investigators on Wednesday recommended that the U.S. Food and Drug Administration revise its emergency use authorization (EUA) policies for tests to ensure better availability and quality during future infectious disease outbreaks. The recommendations were made by the Office of Inspector General at the Department of Health and Human Services after conducting a review of FDA's EUA activities and decision making for COVID-19 tests in the early months of the pandemic. The recommendations include revision of FDA's EUA submission policy, expansion and improvement of resources for test developers, better communication between the regulator and lab community, and developing a national testing strategy that goes beyond the EUA process. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinalika Roy in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ LinkedIn down for thousands of users - Downdetector.com
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo for LinkedIn Corporation, a social networking networking website for people in professional occupations, is shown in Mountain View, California February 6, 2013. REUTERS/Robert Galbraith/File PhotoSept 21 (Reuters) - Thousands of users of Microsoft Corp's (MSFT.O) LinkedIn's app and website were impacted on Wednesday, according to outage tracking website Downdetector.com. There were nearly 15,000 incidents of people reporting issues with the social networking service, according to Downdetector. The outage may be affecting a larger number of users. A majority of users across the United States, however, reported that they had issues accessing LinkedIn's website.

☆ Musk says Starlink will seek exemption from Iranian sanctions
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterStarlink logo is seen on a smartphone in front of displayed Ukrainian flag in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/IllustrationSept 19 (Reuters) - SpaceX CEO Elon Musk said on Monday that the company will ask for an exemption from sanctions against Iran to provide the firm's Starlink satellite broadband service in the country. Register now for FREE unlimited access to Reuters.com RegisterIran's Ministry of Communications and Information Technology could not be immediately reached for comment. Musk did not specify from which country Starlink would seek exemptions, but Iran faces broad based sanctions. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akash Sriram in Bengaluru; Editing by Maju Samuel and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Spotify takes on Amazon's Audible, launches audiobook service for U.S. users
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

A headset is seen in front of a screen projection of Spotify logo, in this picture illustration taken April 1, 2018. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.com RegisterSept 20 (Reuters) - Spotify Technology SA (SPOT.N) is locking horns with Amazon.com Inc's (AMZN.O) Audible, with the launch of its audiobook service in the United States. Spotify users in the country will have access to over 300,000 audiobook titles, the Swedish firm said in a blog on Tuesday. Users will be able to browse the catalog on the Spotify app and purchase through the website, it added, similar to the purchase of Spotify subscription. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yuvraj Malik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. delivers over 25 mln COVID boosters; Moderna's shot in limited supply
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

A nurse fills up syringes with the coronavirus disease (COVID-19) vaccines for residents who are over 50 years old and immunocompromised and are eligible to receive their second booster shots in Waterford, Michigan, U.S., April 8, 2022. Both CVS and Walgreens said they are working with the government to acquire more Moderna doses and have not seen any supply issues for the Pfizer/BioNTech booster. Register now for FREE unlimited access to Reuters.com RegisterIn August, the U.S. Food and Drug Administration authorized Pfizer and Moderna's updated booster shots that target the dominant BA.4 and BA.5 Omicron subvariants, as the country prepares for a broad fall revaccination campaign. It said it expects to ship the 70 million doses by the end of the year, as promised in its contract. The U.S. has ordered more than 170 million updated vaccine booster shots for this fall when all individuals aged 12 and over who have already received the initial doses of the vaccine are being encouraged to receive a booster shot.

☆ Gap eliminates 500 corporate jobs amid shrinking margins
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Gap logo is seen on the front of the company's store on Oxford Street in London, Britain, July 1, 2021. REUTERS/John SibleySept 20 (Reuters) - Gap Inc (GPS.N) is eliminating about 500 corporate jobs, the apparel chain said on Tuesday, as it struggles to protect margins and battles weak sales of outdated clothes at brands including Old Navy. Register now for FREE unlimited access to Reuters.com RegisterShares of the Banana Republic parent declined about 3% in afternoon trade, taking the year-to-date decline to 48%. Late last month, the company withdrew its annual forecasts due to an inventory glut and weak sales. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Beyond Meat suspends COO after arrest for allegedly biting man's nose
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA guest wears a hat during the Beyond Meat IPO at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermidSept 20 (Reuters) - Beyond Meat Inc's (BYND.O) Chief Operating Officer Doug Ramsey has been suspended effective immediately, the company said on Tuesday, following reports of the executive's arrest for allegedly biting a man's nose during an altercation. The plant-based meat producer said the operations activities will be overseen on an interim basis by Jonathan Nelson, senior vice president of manufacturing operations. Register now for FREE unlimited access to Reuters.com RegisterRamsey was detained on Saturday on charges of third-degree battery and for threatening, according to court records. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Lucy NicholsonSept 19 (Reuters) - Faraday Future Intelligent Electric (FFIE.O) shareholder FF Top Holding has sued the electric vehicle startup seeking the removal of two board members, according to a court filing, escalating the battle for the revamp of the company's board. Register now for FREE unlimited access to Reuters.com RegisterFF Top added that the "current board has driven the company into the ground". read moreFF Top earlier this month delivered a notice to the company seeking the removal of Swenson. Faraday Future's shares have slumped about 93% since going public through a reverse merger with a blank-check firm in July last year. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akash Sriram in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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