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☆ Sony shares tumble on weaker-than-expected annual outlook
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 1 (Reuters) - Sony Group Corp's (6758.T) shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate's annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and microchip units. For the current business year, however, it projected a 3.2% profit decline to 1.17 trillion yen ($8.55 billion), missing an analysts average estimate of a 1.275 trillion yen profit, as it expects slow recovery in profitability in the videogame unit. Jefferies analyst Atul Goyal said in a note to clients Sony's outlook "is overly conservative," and that its PlayStation 5 (PS5) game consoles and game software are likely to benefit from pent-up demand. The conglomerate aims to sell a record 25 million units of the PS5 in the year to next March.

☆ Activision should focus on its 'core IP,' says Jefferies
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailActivision should focus on its 'core IP,' says JefferiesAtul Goyal of the investment bank discusses the outlook for Activision and Microsoft's $68.7 billion deal to buy the U.S. video game company.

It’s time for practice: a two-mile run, a couple hours of batting, bowling and catching drills, and lots of giggles. The girls, including his own daughter, all refer to him as “veera,” meaning elder brother in Punjabi. Mr. Shergill’s wife, Kamaldeep Kaur, helps coordinate with the 20-odd families through the team’s WhatsApp group. For the girls, the daily routine is an escape from the boredom of village life. After each practice, they lie in a circle, their backs to the grass, their faces to the sky’s fading light.

Atul Gupta and his brother Rajesh allegedly leveraged their close ties to South Africa’s government to build a business empire. South Africa’s justice minister said that the United Arab Emirates had refused the extradition of two India-born brothers who were allegedly at the center of a large government corruption scandal in Africa’s most developed economy. South African authorities say that Atul and Rajesh Gupta for years leveraged their close ties to former President Jacob Zuma and other senior officials in the ruling African National Congress to build a business empire that once stretched from media to mining. Failure to try them in South Africa would be a big blow for President Cyril Ramaphosa , who took over in 2018 after the ANC ousted Mr. Zuma largely because of his alleged ties to the Gupta brothers.

☆ Sony is a better long-term investment than SoftBank, Jefferies says
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSony is a better long-term investment than SoftBank, Jefferies saysAtul Goyal of Jefferies Asia discusses why SoftBank is a trading stock for him, and no longer a long-term investment.

☆ India-Russia defence firm eyes $200 mln missile deal with Indonesia
▼ + stars: | 2023-03-15 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +4 min

The company has been in protracted negotiations with Indonesia and details about the size and timeline of a potential deal have not been previously reported. "I have a team right now in Jakarta," Rane told Reuters in an interview, adding that a deal could be in place within the year. "The defence forces of Indonesia are extremely interested." A spokesperson for the Philippine Department of National Defence did not immediately respond to a request for comment. Western-led sanctions against Russia for its invasion of Ukraine have not impacted BrahMos production or planning, said Rane.

☆ Annual sales of Nintendo hardware will continue to decline, says Jefferies
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnnual sales of Nintendo hardware will continue to decline, says JefferiesAtul Goyal of Jefferies Asia says it's expects the same for Nintendo's software sales.

BENGALURU, Feb 1 (Reuters) - Indian shares reversed earlier gains to close lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled. This was the worst budget day performance by Nifty 50 (.NSEI) in three years, since the 2.51% fall in 2020. Reuters Graphics Reuters GraphicsMeanwhile, Indian bond yields dropped after the government announced gross borrowing at 15.43 trillion rupees ($188.75 billion) for the next financial year. A Reuters poll had pegged gross borrowing at 16 trillion rupees. Indian insurance companies were top losers post budget, with HDFC Life (HDFL.NS), SBI Life Insurance (SBIL.NS), ICICI Prudential Life Insurance Co (ICIR.NS), Life Insurance of India (LIFI.NS), General Insurance Corp (GENA.NS) and Max Financial (MAXI.NS) tumbling between 8.5% to 12.5%.

Issuance of bonds tied to environmental, social and governance (ESG) themes grossed $142 billion in Asia Pacific last year, barely below the record $144 billion of 2021, according to data from Refinitiv. Major EM ESG issuance Asia, Europe and USParticipants say the 2022 issuance in Asia was fuelled on the supply side by the gargantuan task of greening Asia's energy grid and by low yuan interest rates in top issuer China, where investment from domestic institutions supported prices. Chinese entities issued 59.3% of the ESG bonds in the Asia-Pacific region in 2022, with total proceeds totaling $84 billion, up about 6% from $80 billion in 2021. "Domestic capital markets in Asia have been developing over many years, and are quite deep today," he said. Major EM ESG issuance Major EM ESG issuanceGlobally, ESG issuance fell last year as debt markets became turbulent, while investors pulled cash from funds devoted to sustainable investment for the first time in more than a decade as soaring prices for fossil fuel stocks, which they exclude, hurt their relative performance.

☆ India, U.S. establish new trade group to bolster supply chains
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Trade Representative Katherine Tai and India's Minister of Commerce and Industry, Piyush Goyal, poses for a picture before the start of their meeting in New Delhi, India, November 22, 2021. REUTERS/Adnan Abidi/PoolNEW DELHI, Jan 12 (Reuters) - India and the United States have established a new working group to build sustainable supply chains and boost bilateral trade, the governments said in a joint statement on Thursday. The United States will also consider India's interest in the restoration of beneficiary status under the U.S. generalized system of preferences program, the statement added. The Trade Policy Forum, revived in 2021 after a gap for four years, will reconvene on a ministerial level before end of 2023. The two countries said they mean to continue to work together on resolving outstanding trade issues.

☆ Nearly 200 people in Himalayan town evacuated after homes develop cracks
▼ + stars: | 2023-01-07 | by ( Saurabh Sharma | ) www.reuters.com time to read: +2 min

LUCKNOW, Jan 7 (Reuters) - Indian authorities have moved nearly 200 people from their homes in the Himalayan town of Joshimath, an official said on Saturday, after hundreds of buildings in the area popular with pilgrims and tourists developed cracks due to shifting soil. For years, experts have warned that large-scale construction work, including hydro power projects, in and around Joshimath could lead to land subsidence - the sinking or settling of the ground surface. Atul Sati, the convener of the Joshimath Bachao Sangharsh Samiti that has been protesting government inaction to stop land subsidence, said local residents had been flagging the issue for months. "The concerned authorities are working on it and the only way to contain the problem is to channelise the water stream," Rautela told Reuters. Reporting by Saurabh Sharma, Writing by Devjyot Ghoshal; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ The Year in Pictures 2022
▼ + stars: | 2022-12-19 | by ( The New York Times | ) www.nytimes.com time to read: +57 min

Every year, starting in early fall, photo editors at The New York Times begin sifting through the year’s work in an effort to pick out the most startling, most moving, most memorable pictures. But 2022 undoubtedly belongs to the war in Ukraine, a conflict now settling into a worryingly predictable rhythm. Erin Schaff/The New York Times “When you’re standing on the ground, you can’t visualize the scope of the destruction. Jim Huylebroek for The New York Times Kyiv, Ukraine, Feb. 25. We see the same images over and over, and it’s really hard to make anything different.” Kyiv, Ukraine, Feb 26.

☆ LIV Golf COO Departs at Key Moment for the Saudi-backed Circuit’s Future
▼ + stars: | 2022-12-17 | by ( Andrew Beaton | ) www.wsj.com time to read: 1 min

Phil Mickelson during the first round of the LIV Golf Team Championship in October. One of LIV Golf’s top executives has departed the upstart circuit just as it is seeking to land the media-rights deals and sponsors that will help determine its long-term financial viability. Atul Khosla, who had been the company’s chief operating officer, left at the end of LIV’s season, the Saudi-backed enterprise confirmed in a statement. Khosla’s LinkedIn page displayed a departure date of December 2022.

Exports, which constitute about 22% of the industry, have fallen for five months in a row - declining over 15% year-on-year in November to $3.1 billion. Domestic sales are sluggish despite strong growth in the overall economy because of high costs and cheap imported garments, manufacturers say. Reuters GraphicsIn the textile industry, manufacturers say higher domestic cotton prices and other costs have hit profit margins, while overseas orders for next summer are down by about one-third and domestic demand remains weak. "The government needs to scrap the 11% import duty on cotton so local textile mills can have a level playing field," Ganatra said. Reuters GraphicsFEAR OF JOB CUTSMany textile manufacturers, who have frozen hiring of workers, have warned of jobs cuts if the government fails to provide relief soon.

☆ Why Target will probably have the best Black Friday discounts this year
▼ + stars: | 2022-11-18 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Target will probably have the best deals this holiday shopping season, UBS analysts say. That's because Target has a glut of inventory it needs to get rid of during the holidays. "Since Target has been amongst the most impacted by having a glut of inventory this year, it will probably set the tone across several categories," the analysts wrote. The analysts visited Target stores and tracked how many items were on sale. They did note that Target's discounting has been less aggressive in categories like apparel and beauty.

☆ Walmart is crushing Target by luring wealthier shoppers and dominating groceries
▼ + stars: | 2022-11-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Meanwhile, Walmart sales were up over 8% in the quarter and the retailer raised its full-year outlook. Walmart said its success was driven by two factors: its robust grocery business, and an influx of higher-income shoppers in its aisles. That trend began earlier this year as rising inflation nudged wealthier shoppers away from their usual grocery stores and toward Walmart locations across the country. And as upper middle-class shoppers trade down to Walmart's grocery aisles, they may get curious about the rest of Walmart's offerings, Wall Street analysts predict. Walmart is winning the grocery warsBut it's not just wealthier shoppers that are driving Walmart's dominance over Target — it's groceries, too.

☆ Yellen heads to India to draw surging economic power closer to U.S. orbit
▼ + stars: | 2022-11-08 | by ( David Lawder | ) www.reuters.com time to read: +4 min

On the contrary, the official told reporters that India will benefit from the cap's lower prices. TENSIONS, ALIGNMENTBut the economic relationship has challenges, including trade disputes over U.S. steel duties and India's retaliatory tariffs on Harley-Davidson (HOG.N) motorcycles. Differences over digital trade and India's data localization rules have dogged trade negotiations for years. "That's a message that's extremely appealing to India," said Richard Rossow, an India expert at the Center for Strategic and International Studies in Washington. The Treasury official said the two democracies were committed "to upholding the rules-based international order at a critical time for the cause of freedom."

☆ SoftBank faces tech stock weakness at Q2 earnings
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 7 (Reuters) - SoftBank Group Corp (9984.T) is expected to face further weakness in tech stocks when it reports second-quarter earnings on Friday, after two brutal quarters that have shaken Masayoshi Son's tech conglomerate. The Vision Fund investing arm booked $50 billion in losses in the six months to end-June as valuations slid. Founder and Chief Executive Son has moved to cut headcount and refocus the second fund on managing its existing portfolio. Alibaba (9988.HK), , which SoftBank has been selling to raise cash, has fallen more than 40% year-to-date. "For most/all funding needs, SBG will use Alibaba shares to defend its balance sheet or stock price," Goyal wrote.

☆ Sony shares jump 9% after profit forecast hike
▼ + stars: | 2022-11-02 | by ( Sam Nussey | ) www.reuters.com time to read: +1 min

TOKYO, Nov 2 (Reuters) - Shares in Sony Group Corp (6758.T) leapt 9% on Wednesday morning after the entertainment conglomerate hiked its full-year profit forecast in contrast to lacklustre projections by many peers. Sony reported that it produced more than 6.5 million PlayStation 5 (PS5) units during the second quarter ahead of the year-end shopping season, signalling that supply chain snarls that have hampered the games business are easing. The value of inventory at Sony's games unit surged to 412.5 billion yen ($2.79 billion) in the second quarter, versus 146.2 billion yen three months earlier. Sony aims to sell more than 18 million PS5 units this year, Chief Financial Officer Hiroki Totoki has said. The Japanese conglomerate also hiked the outlook for its movies and image sensor businesses citing the FX boost but noted lower sensor sales.

☆ South Africa's Ramaphosa to give response to graft inquiry
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

CAPE TOWN, Oct 23 (Reuters) - South African president Cyril Ramaphosa on Sunday submits his response to recommendations from a state inquiry into alleged corruption during his predecessor's presidency. A judicial commission of inquiry was established to examine allegations of high-level graft during former president Jacob Zuma's nine years in power from 2009 to 2018. The inquiry found that Zuma had allowed businessmen close to him - brothers Atul, Ajay and Rajesh Gupta - to plunder state resources and influence policy, commonly known as 'state capture' in South Africa. Ramaphosa's written response has not been published, but a presidential statement said he is expected to address the nation on Sunday evening. Register now for FREE unlimited access to Reuters.com RegisterReporting by Wendell Roelf Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Asia's energy supply looks secure — even as Europe scrambles
▼ + stars: | 2022-10-21 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

On Tuesday, the EU steered away from a proposed price cap on Russian gas as it laid out new measures to tackle high energy prices. Overall LNG imports fell 7% year-on-year. Overall LNG imports fell 7% year-on-year. The decrease in LNG imports for Japan, Pakistan and India were 17%, 73% and 22% respectively, the IEA said. However, there is a clear increase month on month of coal power generation," IEEFA energy finance analyst Ghee Peh said.

☆ India cotton output seen rising 12% on bigger crop area, says trade body
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Oct 18 (Reuters) - India is likely to produce 34.4 million bales of cotton in the 2022/23 season that started on Oct. 1, up 12% from a year ago after farmers expanded the crop area, a trade body said on Tuesday. The cotton crop area has increased by around 10% and per-hectare yields are also likely to rise this year, Atul Ganatra, president of the Cotton Association of India (CAI), told an industry conference. Register now for FREE unlimited access to Reuters.com RegisterIndia started the new season with carry forward stocks of 3.19 million bales, down from last year's 7.18 million bales, he said. The country's cotton consumption, which was affected by lower stocks and higher prices, could improve to 32 million bales in the new season from 31.8 million bales a year ago, he added. Exports could fall to 3.5 million bales in the new season from 4.3 million bales a year ago.

☆ TRAGEDIE în Anenii Noi și Edineț. Doi bărbați au fost găsiți strangulați în propriile locuințe
▼ + stars: | 2020-11-29 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Doi bărbați au fost găsiți strangulați în propriile locuințe. În ambele cazuri, oamenii legii susțin că ar fi vorba despre suicid. Potrivit ofițerului de presă al IGP, Silvia Vetcu, un tânăr de 30 de ani a fost găsit strangulat în locuința sa. Tot sâmbătă noapte, un bărbat de 57 de ani a fost găsit fără suflare într-un apartament de pe strada Sarmizegetusa din sectorul Botanica al Capitalei. Pe acest caz a fost pornit un proces penal pentru elucidarea altor circumstanțe.

Persons: Silvia Vetcu Locations: Noi, Edineț, Anenii Noi, atul, Capitalei

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