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[1/4] People take pictures of ice creams shaped like tiles of the famous Wat Arun temple, or Temple of Dawn, in Bangkok, Thailand July 8, 2023. REUTERS/Athit PerawongmethaBANGKOK, July 12 (Reuters) - Under a scorching sun, visitors to Thailand's renowned Temple of Dawn cool down by tasting an elaborately-shaped ice cream depicting intricate patterns inspired by the tiles of the pagoda. "It's different and pretty," said Thai resident Doungkamon Koedthong, 29, holding up the ice cream against the backdrop of the temple, also known as Wat Arun, for an Instagram-worthy snapshot. The ice cream, with butterfly pea coconut milk and Thai milk tea favours, was modelled after the blue ceramic plates and flower details of the pagoda, said ice cream maker Pop Icon. The 'Flower of Dawn' ice cream is also popular among foreign visitors seeking some respite from the heat in Bangkok.

Persons: Doungkamon Koedthong, Wat Arun, Sirinya Hanpachearnchoak, Sherin Babu, Artorn Pookasook, Orathai Sriirng, William Maclean Organizations: REUTERS, Thomson Locations: Wat, Bangkok, Thailand, BANGKOK, Manchester, England

☆ IMF board approves Pakistan bailout programme
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: 1 min

July 12 (Reuters) - The board of the International Monetary Fund (IMF) approved a $3 billion, nine-month bailout programme for Pakistan on Wednesday, the IMF said. Pakistan and the Fund had reached a staff level agreement late last month, securing much-needed funding for the cash-strapped country. Reporting by Gibran Peshimam and Juby Babu; Editing by Raju Gopalakrishnan and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Gibran Peshimam, Juby Babu, Raju Gopalakrishnan Organizations: International Monetary Fund, Pakistan, Fund, Thomson Locations: Pakistan

☆ Rothschild family buys 8.2 million shares of Paris-listed investment bank
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Concordia said on Thursday it had acquired all the shares it was permitted to acquire of Rothschild & Co (ROTH.PA), paving the way for the Rothschild family's holding company to open an offer to take the investment bank private. Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share. The opening of an offer to delist the bank will take place following a clearance decision from the French market regulator AMF. The Rothschild family said in February it was seeking to take the bank private. The bank, led by Alexandre de Rothschild, said total group revenue over the first three months of 2023 fell to 606.2 million euros ($667.30 million) from 675.3 million euros in 2022.

Persons: Concordia, Rothschild, Alexandre de Rothschild, Chandni Shah, Juby Babu, Shailesh Organizations: Rothschild & Co, Rothschild, AMF, Thomson Locations: Bengaluru

☆ Odey Asset Management pushes to restructure funds -letters
▼ + stars: | 2023-06-30 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Odey Asset Management (OAM) has proposed to restructure two of its key funds, according to letters to investors reviewed by Reuters, as part of efforts to extract founder Crispin Odey from the business after several assault and harassment allegations surfaced against him. The London-based investment firm is planning to switch shareholders' investments in the OEI Mac and Odey European funds to two new funds, which would then be rehoused under a new firm, the letter added. Freddie Neave, who took over managing OEI Mac and Odey European from Crispin Odey three weeks ago, would run the new funds and leave to work at the new firm. "It is expected that Crispin Odey would not switch to the new fund and would remain in the existing fund," OAM said in both letters. The firm the alternative to this proposal would be to compulsorily redeem investors in the funds.

Persons: Crispin Odey, Freddie Neave, OEI, James Hanbury, Odey, Carolina Mandl, Juby Babu, Shweta Agarwal, Nick Zieminski Organizations: Odey, Management, Reuters, OEI Mac, Lancaster Investment Management, Financial Times, Tortoise Media, Thomson Locations: London, New York, Bengaluru

☆ Nepal seeks to promote itself as an LGBTQ-friendly destination
▼ + stars: | 2023-06-29 | by ( Bibek Bhandari | ) edition.cnn.com time to read: +9 min

We’re starting a new trend, we’re being trendsetters.”Ravit Kushmi, a participant who identifies as queer, calls the training “historic,” adding they can serve as Nepal’s LGBTQ tourism ambassadors. But Pant believes LGBTQ tourists have favored those destinations for years, and Nepal offers a fresh travel experience in Asia. The Nepal Tourism Board plans to launch an official LGBTQ tourism campaign soon, too. “This niche market will contribute to Nepal’s tourism,” says Mani R. Lamichhane, director of the Nepal Tourism Board. He says Nepal’s LGBTQ tourism would provide mutual benefits, particularly for tourists visiting the country seeking adventure and spiritual experiences.

Persons: Nepal’s, Sunil Babu Pant, “, ”, gwara mari, –, Bibek Bhandari, Himal Pandit, Manoj, Asshika, Ravit, Tiffany, Pant, John Tanzella, Courtney Mitchell, Sarah Welton, Mani R, Lamichhane, Rubina Bhujel, Bhadra, ” Bhadra, ” Pant Organizations: Kathmandu CNN, Pant, Nepal Tourism, –, Nepal Mountaineering Academy, CNN, International, Travel, ”, Nepal’s, Nepal Tourism Board, West University, UN Locations: Kathmandu, Pant, Nepal, Bibek, Bibek Bhandari Nepal, Thamel, ” Nepal, Asia, Taiwan, India, Thailand, Pink, American, “ Nepal

☆ 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

☆ Silver Lake secures 63% stake in Software AG after months-long pursuit
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - U.S. private equity firm Silver Lake said on Thursday it has secured a majority of 63% in Software AG (SOWGn.DE) and intends to pursue a delisting of the business software developer. Earlier this month, Bain Capital and Rocket Software sold all their shares in Software AG to Silver Lake, helping the company gain a 41% stake. Silver Lake had in April offered to buy Software AG for 30 euros per share, valuing the German software developer at 2.2 billion euros ($2.39 billion). The bid prompted a counteroffer from Rocket Software, owned by private equity firm Bain Capital. In May, the software developer said it supported a sweetened 32 euros per share offer from Silver Lake for the company.

Persons: Silver Lake, Silver, Juby Babu, Shweta Agarwal, Sriraj Organizations: Silver, Software AG, Bain Capital, Rocket Software, Software, Silver Lake, Thomson Locations: Silver, Bengaluru

☆ Nasdaq to sell debt worth $5 bln to fund Adenza deal
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - Nasdaq (NDAQ.O) said on Thursday it aims to sell debt worth $5.07 billion to fund its purchase of Thoma Bravo-owned software company Adenza. The $10.5 billion deal, announced earlier this month to help transform the exchange operator into a financial technology company, comprises $5.75 billion in cash and 85.6 million shares of Nasdaq common stock. Nasdaq is looking to sell senior notes worth $4.25 billion and 750 million euros ($821.33 million), according to a statement. Nasdaq and many of its peers have been morphing into financial technology firms, largely through deals, as regulatory and nationalist pushback effectively killed big cross-border exchange mergers, and as trading volumes fell after the 2008-2009 financial crisis, stunting transaction-based revenue. ($1 = 0.9132 euros)Reporting by Juby Babu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma, pushback, Juby Babu, Sherry Jacob, Phillips Organizations: Nasdaq, Thoma Bravo, OMX, International Securities Exchange, Thomson Locations: New York, U.S, Bengaluru

☆ Bitcoin eyes third straight day of gains after touching two-month high
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bitcoin rallied for a third straight day after hitting its highest level since mid-April, boosted by BlackRock's (BLK.N) plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces U.S. regulatory scrutiny. Earlier this month, the U.S. Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance. Bitcoin, the world's biggest and best-known cryptocurrency, was last up 5.5% on Wednesday at 29,881.00 after hitting a high of $30,755.00. "It started with BlackRock's Bitcoin ETF filing and now others are following," said Edward Moya, a senior market analyst at OANDA. "Who needs regulatory clarity if you see BlackRock making a move?"

Persons: Bitcoin, Schwab, Edward Moya, Juby Babu, Megan Davies, Sinéad Carew, Hannah Lang, Chris Reese, Richard Chang Organizations: BlackRock's, BlackRock, Street, Citadel Securities, Fidelity, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Bengaluru, New York

The judge asked for weekly updates, and said he would reschedule the trial if an agreement is not reached within 21 days. 3M spokesperson Sean Lynch said in a statement the parties are "making material and significant progress toward a resolution of this matter." [1/2] The 3M Global Headquarters in Maplewood, Minnesota, U.S. is photographed on March 4, 2020. It has said in court documents that PFAS have not been linked with health problems at the levels being discovered in drinking water. Bloomberg News reported last Friday that 3M had struck a tentative $10 billion deal with U.S. cities and towns to resolve the PFAS water pollution lawsuits it is facing.

Persons: Stuart, Richard Gergel, Paul Napoli, Sean Lynch, Nicholas Pfosi, Maria Ponnezhath, Clark Mindock, Juby Babu, Akanksha Khushi, Aishwarya Nair, Kim Coghill, Sonali Paul, Sriraj, Devika Syamnath, Alexia Garamfalvi, Marguerita Choy Organizations: 3M, District, Napoli, 3M Global, REUTERS, Bloomberg News, Environmental Protection Agency, DuPont de Nemours Inc, Corteva Inc, Thomson Locations: U.S, Florida, Charleston , South Carolina, South Carolina, Stuart , Florida, Maplewood , Minnesota, Bengaluru, New York

☆ Ex-NBCUniversal executive Joe Benarroch to join Twitter
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +1 min

June 4 (Reuters) - Former NBCUniversal executive Joe Benarroch will join Twitter on Monday, in a role focusing on business operations, he told Reuters. Benarroch said in an email that he was looking forward to working with the company's team to "build Twitter 2.0 together." From one bird to the next," tweeted incoming Twitter Chief Executive Linda Yaccarino, who was appointed in May. At Comcast Corp's (CMCSA.O) NBCUniversal, Benarroch oversaw communication strategy for its Advertising and Partnerships division, reporting to Yaccarino, who was advertising chief there before joining Twitter. Twitter's head of trust and safety, Ella Irwin, said on Thursday that she has resigned from the social media company.

Persons: Joe Benarroch, Benarroch, Linda Yaccarino, Twitter's, Ella Irwin, Brown, Dawn Chmielewski, Chandni Shah, Juby Babu, Will Dunham, Grant McCool Organizations: Twitter, Reuters, Comcast, Street Journal, Thomson Locations: Los Angeles, Bengaluru

☆ HSBC to rename British arm of Silicon Valley Bank next month- Sky News
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - HSBC (HSBA.L) is set to announce next month that the UK arm of Silicon Valley Bank will be renamed HSBC Innovation Banking, Sky News reported on Monday. The British government and the Bank of England facilitated a private sale of SVB UK to HSBC in March, in a move which would protect deposits without taxpayer support. Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis. SVB is undergoing bankruptcy proceedings after California's regulators shuttered Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The regulators then agreed to backstop a deal for regional lender First Citizens BancShares (FCNCA.O) to acquire Silicon Valley Bank.

☆ Fed's Kashkari open to holding rates steady in June, WSJ reports
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

"I'm open to the idea that we can move a little bit more slowly from here," the newspaper quoted Kashkari as saying in a Friday interview that was published on Sunday. However Kashkari, a member of the central bank's rate-setting monetary policy committee, cautioned that his mind was not yet made up: "I would object to any kind of declaration that we're done." While inflation has shown signs of moderating since the summer of 2022, it remains well above the Fed's 2% target. The Fed has faced calls to refrain from further tightening to lessen the risk of driving the U.S. economy into recession. Reporting by Juby Babu in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ New Twitter CEO says she is excited to help to transform Twitter
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +2 min

May 13 (Reuters) - Newly appointed Twitter CEO Linda Yaccarino said in a tweet on Saturday that she has been inspired by owner Elon Musk's vision to create a brighter future and is excited to help to transform the social media platform. It was the first time Yaccarino has spoken publicly since the news broke Thursday that she was in talks to become the next CEO of Twitter. Musk, who has served as CEO since his $44 billion buyout of Twitter last October, announced her appointment on Friday. I'm excited to help bring this vision to Twitter and transform this business together!" Musk, who is also the CEO of electric-vehicle maker Tesla Inc (TSLA.O), on Friday said that bringing Yaccarino on as Twitter's new chief will help him devote more time to Tesla.

☆ Assa, Spectrum Brands reach settlement with US on deal
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Sweden's Assa Abloy AB (ASSAb.ST), the world's No. The Justice Department last year sued to block the proposed deal by Assa Abloy to buy the Spectrum Brands HHI division, which makes residential door hardware, saying the deal could lead to higher prices. Assa Abloy makes Yale, August and EMTEK brands, while Spectrum's division makes the Baldwin and Kwikset brands. In a separate statement, Fortune said it will go ahead with the purchase of businesses from Assa Abloy for $800 million. Assa Abloy agreed in December to sell the businesses to Fortune in a bid to resolve the U.S. antitrust issues.

☆ Peloton identifies defect in seat posts after reports of injuries
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Peloton Interactive Inc (PTON.O) on Thursday said that it had identified a defect involving seat posts in its original stationary bike, with 12 reports of injuries, including one wrist fracture, as of April 30. Out of 2.4 million units sold in the U.S. and Canada as of April 30, there were 35 reports of the bike's seat post breaking during use, Peloton said in a filing with the U.S. Securities and Exchange Commission (SEC). The company said it had notified the U.S. Consumer Product Safety Commission (CPSC) about the "potential product safety issue" and is working with the regulator to finalise a corrective action plan. The fitness equipment maker in January agreed to pay a $19 million fine for failing to promptly report a defect with its Tread+ treadmill that could cause serious injury. Peloton on Thursday reported a wider-than-expected quarterly loss and warned it expects to sign up fewer members for the year, raising concerns about the fitness equipment maker's growth prospects.

☆ FDIC mulls loss-sharing with nonbanks to boost bids on failed lenders, Bloomberg reports
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - The U.S. Federal Deposit Insurance Corp (FDIC) is mulling whether to offer loss-sharing agreements to private equity firms and other nonbanks that buy parts of failed lenders, after it was left holding a large portfolio of Signature Bank loans following its collapse, Bloomberg News reported on Friday. Since the FDIC does not regulate nonbanks, the firms cannot bid for an entire lender but such a move could entice them to buy loans and assets at a discount from collapsed institutions and help the FDIC get higher bids, the report said. The FDIC did not immediately respond to a Reuters request for comment. Earlier this week, JPMorgan (JPM.N) entered into a loss-sharing agreement with the FDIC when it agreed to assume all of First Republic's deposits but share losses on certain portfolios including residential and commercial loans. Reporting by Juby Babu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's TIM seeks final offer for grid by June 9
▼ + stars: | 2023-05-04 | by ( Elvira Pollina Jubabu | Elvira Pollina | ) www.reuters.com time to read: +2 min

TIM directors gathered on Thursday to draw a response to rival non binding approaches for its landline grid by KKR (KKR.N) and a consortium comprising state lender CDP and fund Macquarie (MQG.AX), worth 21 billion euros ($23 billion) and 19.3 billion euros, respectively. In a statement after the board meeting, TIM said it deemed the bids "not yet adequate", adding at least one of the bidders had expressed its readiness to improve its non-binding offer. Three sources with knowledge of the matter said KKR was willing to work further on its bid's terms. Italian last month said her right-wing administration would not intervene at this stage in the network sale process, although it is on alert to avoid any risk to the national interest. ($1 = 0.9081 euros)Reporting by Elvira Pollina and Juby Babu, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

☆ OpenAI closes $300 million funding round at $27 billion-$29 billion valuation, TechCrunch reports
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: 1 min

April 28 (Reuters) - OpenAI, the company behind the ChatGPT chatbot, has closed a more than $300 million share sale at a valuation between $27 billion and $29 billion, TechCrunch reported on Friday. (This story has been corrected to say a $300 million share sale, not $10 billion or $10.3 billion, in the headline and paragraph 1)Reporting by Juby Babu in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter to allow publishers to charge users on a per article basis starting May
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

April 29 (Reuters) - Twitter Inc CEO Elon Musk said on Saturday that the social media platform will allow media publishers to charge users on a per article basis with one click, calling it a win for both the public and media organizations. Since taking over the social media firm in October, Musk has swiftly moved through a number of product and organizational changes. The company rolled out Twitter-verified blue tick as a paid service and shrunk the employee base by about 80%. Musk has been bringing in changes to boost revenue at Twitter after the social media platform saw advertising income drop last year in the run-up to his on-again-off-again acquisition that closed. Reporting by Juby Babu in Bengaluru; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ OpenAI closes $10 bln funding round at $27 bln-$29 bln valuation- TechCrunch
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: 1 min

April 28 (Reuters) - OpenAI, the company behind the ChatGPT chatbot, has closed a new funding round of over $10.3 billion, valuing the company between $27 billion – $29 billion, TechCrunch reported on Friday. (This story has been refiled to fix OpenAI's case in the headline)Reporting by Juby Babu in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ First Republic faces potential curb on borrowing from Fed - Bloomberg News
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - U.S. bank regulators are weighing the prospect of downgrading their private assessments of First Republic Bank (FRC.N), which could lead it to face potential curbs on borrowing from the Federal Reserve, Bloomberg News reported on Wednesday. FRC did not immediately respond to a Reuters request for comment. First Republic's market value plunged below $1 billion for the first time ever on Wednesday after a report said the U.S. government was unwilling to intervene in the rescue process, hammering the lender's stock. The banking sector has come under renewed pressure following First Republic's results on Monday after it reported outflows of more than $100 billion in deposits in the first quarter. Reporting by Juby Babu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Two earthquakes strike Kepulauan Batu, Indonesia
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: 1 min

April 23 (Reuters) - Two earthquakes measuring nearly magnitude 6 struck Kepulauan Batu, Indonesia, in the morning hours on Sunday, according to the European Mediterranean Seismological Centre (EMSC). The first earthquake, pegged by the EMSC at a magnitude 6.1 struck Kepulauan Batu early Sunday, followed by another 5.8 magnitude quake just hours later. The first earthquake was at a depth of 43 km (26.72 miles) while the second was at 40 km (24.85 miles), EMSC said. Reporting by Juby Babu in Bengaluru; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ Alberta Energy Regulator to probe wildlife death at Suncor tailings pond
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

April 22 (Reuters) - The Alberta Energy Regulator (AER) has started an investigation into the death of 32 waterfowl at a Suncor Energy Inc (SU.TO) tailings pond on its Base Mine Site, 29 km (18 miles) north of Fort McMurray. It was detected during an oilsands bird contact monitoring program survey, according to a statement from the regulator. The company has further discovered two additional dead wildlife, one muskrat and one vole, at the site since it notified the AER. Suncor said it had begun an investigation after finding the dead wildlife on Friday, on the edge of a tailings pond at the Base Plant site during one of its regular, required checks. "At the time of discovery, all bird deterrent systems at Base Plant were active."

☆ Silver Lake to buy Germany's Software AG in $2.42 bln deal
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: 1 min

April 22 (Reuters) - Private-equity firm Silver Lake has offered to buy Software AG (SOWGn.DE) in a deal that values the German business software developer at 2.2 billion euros ($2.42 billion). The offer price of 30 euros per share in cash by Silver Lake-controlled Blitz 22-449 SE represents a premium of 53% to Software AG's closing price of 19.59 euros on Thursday. In February 2022, Silver Lake had invested 344 million euros in the software developer's convertible bond, which upon conversion would represent nearly 9% of issued Software AG shares, the company said in a statement. Software AG's board and takeover committee are "highly supportive" of the offer and intend to recommend it to its shareholders, the company said. ($1 = 0.9102 euros)Reporting by Juby Babu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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