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☆ Exclusive: Paul Whelan tells CNN he's 'positive and confident' the 'wheels are turning' toward release
▼ + stars: | 2023-05-21 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +5 min

CNN —Paul Whelan, an American who is wrongfully detained in Russia, told CNN on Sunday that he feels confident that his case is a priority for the United States government but wishes it could be resolved faster. “I remain positive and confident on a daily basis that the wheels are turning. I just wish they would turn a little bit more quickly,” said Whelan, who called CNN exclusively from his prison camp in remote Mordovia. However, Whelan said Sunday he has more confidence in the US efforts to get him home than he did when he spoke to CNN in December following Griner’s release. Medical care, dental care is provided privately,” he told CNN.

The return of tourists to Southeast Asia, he says, bodes well for the group’s core mobility business in the second half. The next challenge is resetting investor expectations so that beats can shine through. Lower incentives helped it to cut its adjusted operating loss to $66 million from $287 million a year ago. It also narrowed its forecast for annual adjusted operating loss to $195 million-$235 million, from a previous forecast of $275 million-$325 million. China’s Alibaba on May 18 reported revenue of 208 billion yuan ($30.1 billion) in the three months to end-March, up 2% year-on-year.

The young Terao had just survived the world’s first nuclear attack. For Terao, the idea the world is hurtling back toward the nightmare he barely survived is incomprehensible. Terao points to a photograph showing Hiroshima before the atomic bombing and the house where he spent the first four years of his life. And yet, for a man who has survived an atomic bomb attack, the fact that the planet remains at risk of nuclear armaggedon is hard to live with. “I wonder If I’ll die without seeing a world without nuclear weapons,” he adds.

☆ GE finance chief Dybeck Happe to step down
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - General Electric Co (GE.N) said on Thursday Carolina Dybeck Happe would step down as finance chief of the industrial giant, as it prepares to complete the spin-offs of its businesses next year. Rahul Ghai will become the CFO of GE, effective Sept. 1, while retaining his role as the finance chief of GE Aerospace, which he has held since August 2022, the company said in a statement. "Since Rahul joined GE Aerospace, we have benefited greatly from his leadership, including his wealth of experience as a public company CFO and with the spin-off process," GE CEO Larry Culp said. Moller-Maersk executive, Dybeck Happe took over as GE's CFO in early 2020. In late 2021, GE announced it would split into three public companies that would focus on energy, healthcare and aviation.

☆ Sony eyes finance unit listing, doubles down on entertainment
▼ + stars: | 2023-05-18 | by ( Sam Nussey | ) www.reuters.com time to read: +3 min

Sony said it is considering a time frame of two to three years to spin off Sony Financial Group - whose operations include life insurance and banking - with an eye to listing the business and retaining a stake of slightly under 20%. The conglomerate is pursuing synergies between its business lines, which include video games, music and movies. A partial spin-off of Sony Financial, which the group said was made possible by changes in tax rules, would allow the newly listed business to retain Sony branding. The finance business reported a 5% fall in revenue to 1.45 trillion yen ($10.74 billion) in the year ended March. Sony CEO Kenichiro Yoshida said he recently watched the movie in Tokyo and used to play "Super Mario" too.

☆ Sony eyes listing for heavyweight finance unit
▼ + stars: | 2023-05-18 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

Sony said at a strategy briefing it is looking at listing Sony Financial Group, whose operations include life insurance and banking, and retaining a stake of slightly less than 20%. The announcement comes just three years after Sony took full control of the business in a $3.7 billion transaction. The financial unit reported a 5% decline in revenue to 1.45 trillion yen ($10.74 billion) in the year ended March. Operating profit rose 49% to 223.9 billion yen following one-off gains from a real estate sale. Sony shares were up 6% in Tokyo morning trade, a day after the group announced a buyback of up to 2.03% of its shares.

Walmart — Shares of the big box retailer rose slightly after the company reported an earnings and revenue beat for the fiscal first quarter. However, its adjusted earnings guidance for the fiscal second quarter came in lower than expectations. Bath & Body Works — The retailer's shares jumped more than 9% after its fiscal first quarter earnings topped expectations. Take-Two Interactive — Shares surged almost 13% and hit a new 52-week high following the company's earnings announcement Wednesday. To be sure, the company's guidance for bookings in the first-quarter and full-year fell below Wall Street's expectations.

☆ Stocks making the biggest moves premarket: Walmart, Take-Two Interactive, Bath & Body Works and more
▼ + stars: | 2023-05-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Sale signs inside the Bath and Body Works store in Edmonton. Walmart also reported stronger-than-expected adjusted earnings and revenue, according to Refinitiv. Take-Two Interactive Software — The video game company surged 14% after posting better-than-expected revenue for its fiscal fourth quarter. Bath & Body Works — The retailer of body care and fragrance saw its stock surge nearly 10% in premarket after the company posted stronger-than-expected earnings and revenue for the latest quarter. Bath & Body Works also raised its full-year earnings guidance.

☆ Alibaba plans to list cloud division as quarterly revenue misses expectations
▼ + stars: | 2023-05-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

In this article BABABABA Follow your favorite stocks CREATE FREE ACCOUNTAlibaba Cloud, the cloud computing subsidiary of Alibaba, unveiled its ChatGPT-style product Tongyi Qianwen during the 2023 Alibaba Cloud Summit on Tuesday morning. Bloomberg | Bloomberg | Getty ImagesAlibaba announced plans to spin off its cloud division as a separate, publicly traded company, while the e-commerce titan's quarterly revenue missed expectations. In its Thursday report, Alibaba said it plans to spin off its cloud division as a newly listed company, subject to restructuring certain assets, liabilities and contracts, and regulatory approvals. Dan Ives, an analyst at Wedbush Securities, said Alibaba's cloud spin-off plan was a "no brainer strategic move that we believe adds to the sum of the parts valuation on BABA." "We believe this was a step in the right direction for the Alibaba story," Ives told CNBC in emailed comments Thursday.

☆ Opinion: The banned Russian landmine with a deceptively poetic name
▼ + stars: | 2023-05-17 | by ( Opinion Sasha Dovzhyk | ) edition.cnn.com time to read: +8 min

A great deal of eeriness is due to the highly explosive Russian “petals.” “Petal” — or, “lepestok,” in Russian — is the poetic name of an internationally banned Russian-made anti-personnel landmine. The Russian wish for Ukraine appears to be death: to render Ukrainian land uninhabitable, to maim and kill those who live on it. But as one learns from Kataev’s tale, the Russian petals travel far and know no borders. In November, Ukrainian President Volodymyr Zelensky reported that 200,000 hectares (almost 50,000 acres) of Ukrainian land were contaminated with unexploded mines and shells. The rusted remains of a tank in Sviatohirsk, Donetsk region, pictured during a PEN Ukraine trip in April 2023.

☆ Johnny Depp on Cannes comeback: I didn't go anywhere
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

[1/5] The 76th Cannes Film Festival - Photocall for the film "Jeanne du Barry " Out of competition - Cannes, France, May 17, 2023. REUTERS/Gonzalo FuentesCANNES, May 17 (Reuters) - Johnny Depp pushed back at suggestions he was making a comeback with the Cannes Film Festival's opening movie "Jeanne du Barry" following a high-profile defamation trial a year ago, though he admitted people had "stopped calling" at the time. "I keep wondering about the word comeback, because I didn't go anywhere," Depp said after arriving 45 minutes later than scheduled at the news conference for the film on Wednesday. "Jeanne du Barry," in which Depp plays King Louis XV, received a seven-minute standing ovation at the luxurious Grand Theatre Lumiere, where it premiered on Tuesday evening. No, not at all, I don't feel boycotted because I don't think about it, I don't think about Hollywood," he said.

☆ A suspect has been arrested for leaking the 'House of the Dragon' finale episode — and the alleged hacker made a rookie mistake
▼ + stars: | 2023-05-17 | by ( Will Gendron | ) www.businessinsider.com time to read: +2 min

Two days before the "House of the Dragon" finale aired last fall, the episode was leaked online. The mysterious case of the leaked "House of the Dragon" finale is one step closer to being solved — and the alleged hacker's cat helped tipped off authorities. Last October, two days before the "Game of Thrones" spin-off's series finale was set to air, the episode was leaked to pirating sites. Despite the leak, "House of the Dragon" was quite succesfull with 9.3 million viewers tuning into the series finale legally. That made it HBO's most-watched finale since the "Game of Thrones" finale in 2019, per Variety.

☆ Buying Teck's coal unit as a standalone a 'distant second' for Glencore - CEO
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 16 (Reuters) - Buying Teck Resources' (TECKb.TO) coal business as a standalone unit is a "distant second" for Glencore (GLEN.L) and Teck should not leave out the Swiss miner if it keeps pursuing its separation plan, boss Gary Nagle told the Bank of America conference in Barcelona on Tuesday. Teck has rebuffed the Swiss miner and trader's $22.5 billon offer to combine the two companies, instead pursuing plans to separate its copper and coal business. Glencore's plan would combine and spin off its thermal coal unit and Teck's steelmaking coal business. As part of its proposal, Glencore has offered up to $8.2 billion in cash to Teck shareholders who may not want exposure to thermal coal, the most polluting fossil fuel. Reporting by Clara Denina, additional reporting by Pratima Desai; editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ How the president of Abbot Downing tried to save the Wells Fargo unit for the ultra-rich from being folded
▼ + stars: | 2023-05-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wells Fargo folded Abbot Downing, which served the bank's wealthiest clients, in late 2020. In late 2020, Wells Fargo disbanded Abbot Downing, the unit that catered to the bank's wealthiest clients. Abbot Downing was folded into Wells Fargo's private bank, which also serves rich clients, but it wasn't a safe haven. Business Wire via APGinter left Wells Fargo in September 2021 to launch a new registered investment advisor the following March. Some ex-Abbot Downing employees refer to Callan the "new Abbot Downing" for its focus on the ultra-rich set.

☆ One awkward photo sums up how the debt ceiling negotiations are going
▼ + stars: | 2023-05-16 | by ( Erin Snodgrass | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

McCarthy seemed stony-faced during discussionsSpeaker of the House Kevin McCarthy sits in the Oval Office on Tuesday, May 16. Chip Somodevilla/Getty Images"Lot of work to do in a short amount of time," McCarthy told reporters following the meeting. Sen. Chuck Schumer offered a slightly more positive spinSen. Chuck Schumer sits in the Oval Office on Tuesday, May 16. Chip Somodevilla/Getty Images"We also agreed we have to pass a bipartisan bill with bipartisan support in both chambers," Schumer said. Chip Somodevilla/Getty ImagesA White House readout on the Tuesday debt ceiling talks offered little concrete evidence as to how close the administration is to reaching a deal.

☆ Target wants shoppers to think of it for groceries as retailer braces for leaner spending
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The big-box retailer also hopes by drawing shoppers for essentials like gallons of milk, it can nudge purchases of discretionary items that shoppers otherwise would not have bought. A 'Tarzhay' spin on groceriesOn a recent trip to a Minneapolis area grocery store, Gomez surveyed displays of colorful fruits and vegetables. In each of the past two fiscal years, Target has had double-digit sales growth in the food and beverage category. Target's grocery sales matter more as shoppers pull back in other areas. Grocery competition gets tougherCompetition for grocery shoppers has heated up, especially as consumers stretch their budgets.

Global medical technology company GE HealthCare is an "attractive large-cap diagnostics & imaging play," according to Oppenheimer. The firm says GE HealthCare has become more focused following its recent spinoff from its parent company. "GE Healthcare is the global leader in healthcare diagnostics, imaging, and intervention. "Its medium-term margin outlook is predicated on key initiatives," including optimizing manufacturing, introducing new products and integrated digital solutions, Kalia said. The analyst noted that GE HealthCare looks to benefit from an aging population and increase in chronic diseases.

☆ Meta spins out customer service startup Kustomer amid 'year of efficiency'
▼ + stars: | 2023-05-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Visitors take photos in front of the Meta (Facebook) sign at its headquarters in Menlo Park, California, on December 29, 2022. Meta has spun out the enterprise startup Kustomer, which it bought in 2020 for roughly $1 billion. Kustomer announced the spin-out in a blog post published Monday, pitching the deal as the startup's "next chapter as an independent company." Kustomer's original investors, which include Battery Ventures, Boldstart Ventures and Redpoint Ventures, have invested an additional $60 million into the startup, which now has a reported valuation of $250 million. Meta CEO Mark Zuckerberg has described 2023 as the company's "year of efficiency" and plans to lay off roughly 21,000 workers by early summer.

Erdogan got 49.5% in Sunday's vote and fell just short of the majority needed to avoid a runoff in a vote seen as a referendum on his autocratic rule. But many of his supporters, including first-time voter Asim, were gloomy about Kilicdaroglu's chances in the runoff vote. The election is being closely followed in Washington, Europe and across the region, where Erdogan has asserted Turkish power. Opinion polls had shown Erdogan trailing Kilicdaroglu, but Sunday's outcome suggested he and his Islamist-rooted AKP were able to rally conservative voters despite Turkey's economic woes. Kilicdaroglu and his alliance want to restore a parliamentary system of government and scrap the powerful executive presidency introduced by Erdogan.

☆ Novartis names Sandoz board members ahead of spin-off
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

ZURICH, May 15 (Reuters) - Novartis (NOVN.S) on Monday named the intended new board members of Sandoz, the generics business it plans to spin off to shareholders later this year. The Basel company approved the recommendations of Sandoz Chairman-designate Gilbert Ghostine for the 10 members of the board, which will start preparatory work in June. Others to be appointed to the board include former Novartis executive Karen Huebscher, Aarti Shah, who worked at Eli Lilly (LLY.N), and Deutsche Lufthansa (LHAG.DE) CFO Remco Steenburgen. Unilever (ULVR.L) Chief Legal Officer Maria Varsellona, and former Procter & Gamble (PG.N) executive Yannis Skoufalos, complete the nominations to the committee. "The Sandoz Board of Directors will start preparatory work from June onwards and will be effective following the planned spin-off of Sandoz in the second half of 2023, subject to Novartis Board of Directors and shareholder approval," Novartis said on Monday.

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A. Williams, Meyer and Tittle were managing directors in the investment banking group.

☆ A Kremlin propagandist boasted of Russia's low unemployment rate, not mentioning it's partly because it suffered so many casualties in Ukraine
▼ + stars: | 2023-05-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Russian TV anchor Dmitry Kiselyov boasted of the health of Russia's economy. But he made no mention of how Russia's invasion of Ukraine impacted those figures. He omitted how Russia's invasion has decimated the Ukrainian economy, and boasted that in Russia "unemployment is at an historic low." The labor shortage has been exacerbated by the mass mobilisation of working age men to fight in Ukraine, where the Russian military has suffered steep casualty rates, reports say. Around 300,00 men were drafted into the Russian military last September, and a new wave of mobilizations is considered likely amid continued setbacks.

☆ Swedish singer Loreen wins Eurovision Song Contest for 2nd time at event feting Ukraine
▼ + stars: | 2023-05-14 | by ( ) www.cnbc.com time to read: +6 min

Swedish singer Loreen won the Eurovision Song Contest on Saturday night with her power ballad "Tattoo," at a colorful, eclectic music competition clouded for a second year running by the war in Ukraine. Loreen, 39, previously won Eurovision in 2012 and is only the second performer to take the prize twice, after Ireland's Johnny Logan in the 1980s. Under the slogan "united by music," Eurovision final fused the soul of the English port city that birthed The Beatles with the spirit of war-battered Ukraine. Now in its 67th year, Eurovision bills itself as the world's biggest music contest — an Olympiad of party-friendly pop. "Now, the music industry, the world, knows that if you appear at Eurovision, you could be in for a great thing," said Steve Holden, host of the official Eurovision Song Contest podcast.

☆ BWF approves temporary ban on unplayable 'spin serve'
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +2 min

The amendment to the laws of the sport now states that the server should release the shuttle "without adding spin" as the BWF looks to improve rallies after the spin serve proved to be tough to return or completely unplayable. "However, we have received several points of feedback from within the badminton community, including the BWF Athletes' Commission, expressing that this 'spin serve' could have a negative impact on the game. "An expert panel, therefore, recommended to disallow the 'spin serve' until further consultation could take place with the membership at the upcoming BWF AGM on 27 May 2023." Any attempt at using the spin serve will now be deemed a fault. "BWF also wanted to avoid a scenario where the upcoming BWF Sudirman Cup Finals 2023 and other international tournaments could be platforms to test the new 'spin serve' and ultimately disrupt the competitions," Hoyer added.

☆ Abbot Downing's president pitched a buyout to save the Wells Fargo unit from being folded. The bank said no, and employees have fled.
▼ + stars: | 2023-05-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

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