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☆ Dell quarterly profit jumps on higher server demand, lower costs
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Dell Technologies Inc (DELL.N) posted a 68% rise in quarterly operating profit on Monday, as strong demand for servers and network equipment cushioned weak PC sales and easing supply-chain pressures helped rein in costs. Consumer revenue tumbled 29% and large enterprises, or commercial, revenue, fell 13%. Operating expenses fell 8% in the third quarter ended Oct. 28, the company said. Net income tumbled 93% to $241 million, due to the $1 billion settlement of a lawsuit over a disputed 2018 stock swap. read moreOperating income rose to $1.76 billion, from $1.05 billion a year earlier.

☆ Microsoft's latest data on hacks and why you may need new login, passwords fast
▼ + stars: | 2022-11-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

That's a 74% rise in one year, according to the latest Microsoft Digital Defense Report. But many people still rely on passwords, and don't even use the two-factor authentication now considered critical. "As long as passwords are still part of the equation, they're vulnerable," Joy Chik, Microsoft's vice president of identity, wrote in a September 2021 company blog post. Based on a sample of more than 39 million IoT and OT devices, about 20% used identical usernames and passwords, according to the Microsoft report. Even if a provider doesn't require it to be used, multi-factor authentication is a valuable security tool that's underutilized, according to security professionals.

☆ FTX: Inside the crypto giant's downfall
▼ + stars: | 2022-11-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +9 min

Crypto contagionThe crypto industry is on edge, waiting for the next dominoes to fall. Soon after FTX went down, crypto firms were inundated requests from customers seeking to claw their money back — the crypto equivalent of a run on the bank. The pain isn’t confined to crypto companies. SBF had become a fixture in Washington, too, where he regularly traveled to lobby lawmakers for greater regulatory clarity for the crypto industry. “It’s about fraud and the power of virtue signaling.”He added: “This scandal, far from destroying crypto, practically ensures that crypto will be around for a long, long time.”

☆ China's JD.com says worst is over for consumer demand
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

Research house TH Data Capital noted in a report that sales growth at JD.com in September was better than that in July and August, driven mainly by consumer electronics, home appliance and FMCG. Revenue grew to 243.5 billion yuan ($34.21 billion) in the three months ended Sept. 30, compared with a Refinitiv consensus estimate from 22 analysts of 242.81 billion yuan. Rival Alibaba reported 3% revenue growth in the three months ended Sept. 30. JD.com's quarterly net income attributable to ordinary shareholders was 6 billion yuan, compared with a net loss of 2.8 billion yuan a year earlier. Excluding one-off items, JD.com earned 6.27 yuan per American Depository Share, beating expectations of a 4.44 yuan profit per ADS.

☆ Alibaba quarterly revenue misses expectations as spending slows
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK) posted a smaller-than-expected rise in quarterly revenue on Thursday as COVID-19 curbs and a worsening economic outlook stifled consumer spending. Alibaba has also had to contend with stiff competition from the likes of Pinduoduo (PDD.O) and ByteDance's Douyin - the Chinese version of Tiktok - which have expanded their e-commerce offerings and taken more market share. Revenue grew 3% to 207.18 billion yuan ($28.96 billion) in the three months ended Sept. 30, compared with a Refinitiv consensus estimate of 208.62 billion yuan drawn from 25 analysts. Excluding one-off items, Alibaba earned 12.92 yuan per American Depository Share. ($1 = 7.1540 Chinese yuan renminbi)Reporting by Eva Mathews in Bengaluru and Josh Horwitz in Shanghai; Editing by Edwina Gibbs and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Software firm PTC to buy peer ServiceMax for about $1.5 bln
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Software firm PTC (PTC.O) said on Thursday it will buy cloud-based provider of software ServiceMax for $1.46 billion in cash as it looks to expand its portfolio of product lifecycle management offerings. The deal will be funded in two stages, with $808 million paid at closing expected in early January and $650 million paid in October next year. PTC and ServiceMax both help manufacturers of complex, highly configured products such as industrial products and aerospace to track and monitor products throughout their lifecycle. "PTC is poised to be the only company that will be able to offer manufacturers this comprehensive view of their products at each stage of the lifecycle," said PTC Chief Executive Jim Heppelmann. Reporting by Eva Mathews and Chavi Mehta in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ This common problem with tenant background checks is costing renters
▼ + stars: | 2022-11-17 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +4 min

Inaccurate screening reports are driving moving costs for renters even higher, according to a new report by the Consumer Financial Protection Bureau. The problem is pervasive, says Eva Rosen, an associate professor at Georgetown University who studies the intersection of poverty and American housing policy. Inaccurate reports lead to rejectionsLandlords often use application fees to run background checks on perspective tenants. The average fee is between $40 and $59, but almost 10% of renters reported application fees more than $100. Screening reports are typically sent directly to landlords.

☆ Micron to supply fewer memory chips in 2023, plans fresh capex cuts
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Micron was the first major chipmaker to sound an alarm about falling demand for personal computers and smartphones earlier this year in the face of decades-high inflation. "In order to significantly improve total inventory ... DRAM bit supply will need to shrink and NAND bit supply growth will need to be significantly lower than previous estimates," the company said. Widespread supply and capex cuts typically denote a bottom for the memory industry and is a good sign, Wedbush Securities analyst Matt Bryson wrote in a note on Wednesday. But he said there is potential for a longer demand trough that would likely weigh on the broader technology space. For 2023, the company expects its year-on-year bit supply growth to be negative for DRAM and in the single-digit percentage range for NAND.

☆ Micron expects to supply fewer memory chips in 2023
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Semiconductor firm Micron Technology Inc (MU.O) on Wednesday lowered its 2023 forecast for supply of its memory chips, saying it needed to shrink supply in order to adjust to weak demand. Micron expects year-on-year supply growth to be negative for its DRAM memory chips and in the single-digit percentage range for its NAND memory chips. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Michael Weekes Jr./File PhotoNov 15 (Reuters) - Elon Musk’s rocket and satellite company SpaceX is in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation, sources told Reuters. The offering would be aimed at helping employees and shareholders cash out, two of the sources said. That view appears to contradict earlier information from a separate source that the offering would raise up to $1 billion for SpaceX via a new share issuance. Talks with potential investors are centering around a price of $85 apiece for SpaceX shares, up from a split-adjusted $70 per share fetched earlier this year, sources said. The valuation is still fluid and any share sale plan, which requires SpaceX’s approval, could still change, the sources cautioned.

Nov 16 (Reuters) - Tencent Music Entertainment Corp beat analyst estimates for third-quarter revenue and profit, boosted by a recovery in advertising sales and an increase in the number of paying users on the Chinese music streaming company's platform. Tencent has been ramping up its original content slate to help put more users behind a paywall. Paying users at its online music streaming service rose to 85.3 million in the quarter from 82.7 million in the second quarter, the earnings statement showed. Net profit attributable to equity holders was 1.06 billion yuan, up from 740 million yuan in the same period last year. Yip said Tencent Music expects its long-form audio content to break even on a gross margin basis by the end of next year.

☆ 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.

The Orion spacecraft shared its first view of Earth more than nine hours after launch Wednesday morning. NASAThe towering, 322-foot-tall (98-meter-tall) Space Launch System, or SLS, rocket lit its engines at 1:47 a.m. Jim Watson/AFP/Getty Images Before the launch was scrubbed on September 3, spectators wait for the NASA Artemis I rocket to launch at the Kennedy Space Center. Brynn Anderson/AP The NASA launch countdown clock was stopped after the launch was delayed on August 29. Throughout the mission, NASA engineers will be keeping a close eye on the spacecraft’s performance.

REUTERS/Michael Weekes Jr./File PhotoNov 15 (Reuters) - Billionaire Elon Musk's SpaceX is in talks to raise nearly $1 billion in a new round that would value the rocket-launch and satellite company at about $150 billion, sources told Reuters. The ongoing talks offer SpaceX's share at about $85 apiece, up from the $125 billion valuation the company fetched earlier this year, sources said, suggesting strong investors' appetite while many late-stage venture capital-backed startups have to cope with valuation cut. Investors could buy new shares issued by SpaceX, or from employees who opt to sell via a private placement, or tender offer. The primary raise could fetch nearly $1 billion, one of the sources added. Investors have shown strong interest in SpaceX as the company has had a series of breakthroughs this year.

MIAMI — Florida Democrats are reeling and coming to terms with devastating Election Day losses, particularly among Latino voters who turned out solidly for Republicans in statewide contests. Most Republicans running in the state won by large margins, turning Florida into a solid red state. “Republicans became the real spokespeople for this community,” said Gamarra, referring to the governor, senators, and South Florida members of Congress. DeSantis always hammers down the message that Florida is a “free state.” Over 80,000 people have died of Covid in Florida. Meanwhile, the number of Democratic Latino registered voters decreased from 947,853 in 2020 to 901,481 in 2022.

☆ SpaceX in fundraising talks at $150 bln valuation - Bloomberg News
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

Nov 15 (Reuters) - Billionaire Elon Musk's SpaceX is in talks to raise funding in a round that would value the rocket-launch and satellite company at over $150 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. SpaceX did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon launches virtual healthcare clinic in U.S. for common ailments
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Amazon.com Inc (AMZN.O) on Tuesday launched Amazon clinic, a virtual platform where users can connect with healthcare providers to help treat common ailments like allergies and skin conditions. Amazon has for years sought to expand its presence in healthcare. It bought online pharmacy PillPack in 2018, underpinning a prescription delivery and price-comparison site it later launched as Amazon Pharmacy, which lets users buy over-the-counter drugs via Prime memberships. Amazon saidits new service would operate in 32 states, where customers who seek treatment, will be connected to healthcare providers. read moreThe company is also waiting to close its $3.49 billion deal to buy One Medical, as it seeks to expand its virtual healthcare presence and add brick-and-mortar doctors' offices for the first time.

☆ Big Czech crown interventions less likely, central banker says
▼ + stars: | 2022-11-13 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

Czech Crown coins and notes are seen in this picture illustration taken April 1, 2017. In July, the Czech National Bank (CNB) used 10 billion euros ($10.35 billion) of its massive international reserves to support the crown. Intervention amounts eased to 2.6 billion euros in September, according to bank data. Interventions have kept the crown in a tight range and on the strong side of 24.78 since they started. The CNB’s reserves dropped to 131.6 billion euros at the end of October, or about 48% of expected 2022 gross domestic product, from 160.4 billion euros seen in April.

The sources say Justice Department officials are looking carefully at a cross section of past cases involving the mishandling of classified material. Though his comments were about the separate Jan. 6 investigation, Justice Department officials said they apply broadly. Experts say the public evidence in the Mar-a-Lago case seems unambiguous. Less clear is whether there are aggravating factors — such as whether the Justice Department can prove Trump obstructed justice by failing to turn over documents despite a grand jury subpoena. Martin’s lawyers said he was a hoarder, and prosecutors concluded that he had not given classified information to anyone.

☆ Disney shares fall as rising streaming costs spook investors
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Nov 9 (Reuters) - Shares in Walt Disney Co (DIS.N) tumbled 8% premarket on Wednesday as ballooning costs at the entertainment giant's fast-growing streaming division cast a shadow on strong subscriber additions. The company missed analysts' expectations for fiscal fourth-quarter earnings, after a $1.5 billion loss in its streaming division. read more"Disney's streaming results are indicative of the tightrope it is walking," said Fred Boxa, associate director at technology and management consulting firm Arthur D. Little. Subscriber growth in Disney+ was expected to accelerate in the second quarter, she added, a sign analysts said indicated a soft first quarter. A weaker-than-expected full-year revenue growth forecast also dragged shares.

☆ Meta to cut more than 11,000 jobs in one of the biggest layoffs this year
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Nov 9 (Reuters) - Meta Platforms Inc (META.O) said on Wednesday it will let go of 13% of its workforce, or more than 11,000 employees, in one of the biggest layoffs this year as the Facebook parent battles soaring costs and a weak advertising market. The mass layoffs, first in Meta's 18-year history, follow thousands of job cuts at other major tech companies including Elon Musk-owned Twitter and Microsoft Corp (MSFT.O). Meta, whose shares have lost more than two-thirds of their value so far this year, rose nearly 3% before the bell. The company also plans to cut discretionary spending and extend its hiring freeze through the first quarter. Reporting by Aditya Soni, Nivedita Balu and Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Trump's favorite candidates disappoint on Election Day, raising questions about his 2024 pitch
▼ + stars: | 2022-11-09 | by ( Christina Wilkie | ) www.cnbc.com time to read: +4 min

At huge rallies over the weekend, Trump read off a list of Republican candidates while honing a speech that sounded like his own 2024 presidential campaign stump speech. The message was clear: Trump was the leader of the Republican Party, and the party would have Trump to thank for its expected victories on Election Day. But as returns began to come in Tuesday evening, the Republican rout driven by Trump's chosen candidates never materialized. Ohio Republican Senate hopeful J.D. In North Carolina, Trump-backed Republican Senate candidate Ted Budd defeated Democrat Cheri Beasley, NBC projected.

☆ Canada's Rogers revenue beats on customer addition, higher roaming charges
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Rogers Communications Inc (RCIb.TO), on Wednesday beat quarterly revenue expectations as the Canadian wireless giant benefited from higher roaming charges due to a rebound in international travel and customers opting for pricier plans. The company's total revenue rose to C$3.74 billion ($2.78 billion)in the third quarter compared to C$3.67 billion a year earlier. Net income fell to C$371 million, or 71 Canadian cents per share, from C$490 million, or 94 Canadian cents per share, a year earlier. The company incurred a C$150 million charge in customer credits during the quarter due to a massive network outage in July. ($1 = 1.3436 Canadian dollars)Reporting by Eva Mathews in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Nov 8 (Reuters) - Billionaire Elon Musk's social media platform Twitter will introduce an "Official" label for select verified accounts including major media outlets and governments when it launches its new $8 premium subscription product, its early stage products executive Esther Crawford said on Tuesday. Crawford also confirmed that the revamped Twitter Blue subscription product, which will allow paid users to have their accounts verified with a blue checkmark, will not verify users' identities with identification cards or materials. Fake accounts for government officials are a recurring issue for Twitter globally, according to sources familiar with the matter and researchers. Not all Twitter accounts that were previously verified with a blue check mark will get the "Official" label and the label is not available for purchase, Crawford said. Accounts that will receive the official label include governments, commercial companies, business partners, major media outlets, publishers and some other public figures, she tweeted.

☆ Consumer confidence is near its lowest in a decade, and that could be a problem for Biden
▼ + stars: | 2022-11-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. The survey of 1,201 respondents saw Republicans with a 37%-21% edge on the question of which party is better for the economy. On overall sentiment, the Michigan survey saw a reading of 59.9 for October, 2.2% better than September but 16.5% below the same period a year ago. The University of Michigan survey also found respondents had more trust in Republicans when it came to the fate of their personal finances. The survey showed expectations running high that Republicans will prevail in Tuesday's election and wrest control of Congress back from Democrats.

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