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☆ With China's support, Sri Lanka expects nod for $2.9 bln IMF deal
▼ + stars: | 2023-03-07 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +4 min

"Sri Lanka has completed all prior actions that were required by the IMF," Wickremesinghe said. It was not clear what new support China, the world's biggest sovereign creditor, extended to Sri Lanka on Monday. By end-2020, Sri Lanka owed the China EximBank $2.83 billion or 3.5% of the island's external debt, according to IMF data. Sri Lanka needs to repay about $6 billion on average each year until 2029 and will have to keep engaging with the IMF, Wickremesinghe added. Sri Lanka has been waiting for about 187 days to finalise a bailout after reaching a staff-level deal with the IMF.

☆ Viruses in Cambodian bird flu cases identified as endemic clade
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +2 min

Feb 26 (Reuters) - The viruses that infected two people in Cambodia with H5N1 avian influenza have been identified as an endemic clade of bird flu circulating in the country, the U.S. Centers for Disease Control and Prevention (CDC) said. The cases reported last week had raised concerns they were caused by a new strain of H5N1, clade 2.3.4.4b, which emerged in 2020 and has caused record numbers of deaths among wild birds and domestic poultry in recent months. An investigation into the source and to detect any additional cases is ongoing, the CDC said, adding that so far there had been no indication of person-to-person spread. The World Health Organization said it is working with Cambodian authorities following the cases, describing the situation as worrying due to the recent rise in cases in birds and mammals. Reporting by Juby Babu in Bengaluru; additional reporting by Jennifer Rigby in London; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ China's Xi preparing to visit Moscow for summit with Putin -WSJ
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Chinese leader Xi Jinping is preparing to visit Moscow for a summit with Russian President Vladimir Putin in the coming months, the Wall Street Journal reported on Tuesday, citing people familiar with the plan. Xi's meeting with Putin will be part of a push for multi-party talks on peace in Ukraine and allow China to reiterate its calls that nuclear weapons not be used, the report added. Russia invaded Ukraine on Feb. 24 last year. Wang will likely discuss Xi's trip while he is in Moscow, WSJ said, quoting people familiar with the summit planning. Reporting by Juby Babu in Bengaluru; editing by Alex Richardson and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ Meta to test monthly subscription service priced at $11.99
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo/File PhotoFeb 19 (Reuters) - Meta Platforms (META.O) on Sunday announced that it is testing a monthly subscription service, called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge, as it looks to help content creators grow and build communities. Meta Verified will be rolled out in Australia and New Zealand this week, with gradual launches in other countries to follow. Meta's foray into subscription services follows Twitter, which announced last month that Twitter Blue will be priced at $11 per month. Other social media apps, like Snap Inc's (SNAP.N) Snapchat and messaging app Telegram launched paid subscription services last year, as a new source of revenue. Reporting by Juby Babu in Bengaluru, editing by Deepa Babington and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ WHO maintains public health emergency alert for mpox
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 15 (Reuters) - The World Health Organization (WHO) on Wednesday said mpox remained a public health emergency of international concern (PHEIC), its highest level of alert, citing continued transmission in some countries. Mpox - which spreads via close contact and tends to cause flu-like symptoms and pus-filled skin lesions - was declared a global health emergency by the WHO in July 2022. The committee said there was continued sustained illness in some countries and likely under-reported detection and confirmed cases in others. "The WHO Director-General ... concurs with this advice that the event continues to constitute a PHEIC," it said. (This story has been corrected to fix the attribution to sources close to meeting in paragraph 3)Reporting by Juby Babu in Bengaluru; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Billionaire Najafi set to launch $3.75bn takeover bid for Tottenham Hotspur- FT
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: 1 min

Feb 15 (Reuters) - Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, is set to launch a $3.75 billion takeover bid for English soccer club Tottenham Hotspur, the Financial Times reported on Wednesday, citing two people with direct knowledge of the plans. MSP Sports Capital is working with a consortium of investors to structure the bid, the report said, adding that it is weeks away from formally approaching Spurs owner Joe Lewis and the football club's chair Daniel Levy. Reporting by Juby Babu in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

One U.S. official told Reuters on condition of anonymity that a meeting between Blinken and Wang was possible at the Munich conference, which runs from Feb. 17-19. "I know there's been a report about a potential meeting in Munich, but I have nothing to announce today." U.S. national security adviser Jake Sullivan noted last week that Blinken had postponed his visit to China, not canceled it or sworn off future high-level communication with China. China's has reacted angrily to Washington's spying allegations, saying the balloon was a civilian research craft and accusing Washington of hypocrisy. "But neither side wants to handle scheduling in the glare of media attention, and both sides are dealing with the uncertainty of balloon-related drama."

☆ Top U.S., China diplomats weigh first meeting since balloon drama- Bloomberg News
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

Feb 13 (Reuters) - U.S. Secretary of State Antony Blinken is considering a meeting with China's top diplomat Wang Yi at the Munich Security Conference, in what would be the diplomats' first face-to-face talks since the U.S. shot down flying objects over the country, Bloomberg News reported on Monday, citing people familiar with the matter. In recent days, the U.S. military has shot down four flying objects over North America, most recently on Sunday, when an octagonal object was downed over Lake Huron, the Pentagon said. read moreReporting by Juby Babu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ India's Adani faced margin call on $1.1 bln loan before repaying in full- FT
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

Feb 8 (Reuters) - Adani Group Chairman Gautam Adani faced a margin call of more than $500 million on a $1.1 billion share-backed loan, prompting him to repay the whole debt, the Financial Times reported on Wednesday, citing four people with direct knowledge of the matter. The repayment was meant to avoid any further damage to investor confidence, which has been rocked by allegations of fraud by short-selling firm Hindenburg, the report added. An Adani spokesperson did not immediately respond to a Reuters request for comment outside business hours. Reporting by Juby Babu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Danaher interested in buying life sciences firm Catalent, Bloomberg reports
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: 1 min

Feb 4 (Reuters) - Medical equipment maker Danaher Corp (DHR.N) has expressed interest in taking over contract drugmaker Catalent Inc (CTLT.N), Bloomberg News reported on Saturday, citing people familiar with the matter. Danaher's approach to Catalent values it at a significant premium, the report said, adding that unclear how Catalent will proceed or whether it is receptive to a takeover offer. Both Danaher and Catalent did not immediately respond to a Reuters request for comment on the report. Danaher, which currently has a market capitalization of about $197 billion, bought privately-held biotech company Aldevron in an all-cash deal for about $9.6 billion in June 2021. Reporting by Juby Babu in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Investor Ryan Cohen takes stake in Nordstrom - WSJ
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

The billionaire investor believes it is inappropriate for Tritton, who used to work at Nordstrom from 2009 to 2016, to be deciding compensation for Nordstrom family members who are executives at the company, as he used to work around them, according to WSJ. Cohen has previously traveled to Seattle, where Nordstrom is based, to meet with members of the family and learn more about the business, WSJ said. Both Cohen and Nordstrom did not immediately respond to Reuters requests for comment. The department store chain in September last year adopted a "poison pill" to prevent investors from amassing 10% or more of its shares, after Mexican department store chain Liverpool (LIVEPOLC1.MX) disclosed a 9.9% passive stake in Nordstrom. Cohen also had a 9.8% stake in Bed Bath & Beyond, which he sold in August, following a stunning rally in the stock.

☆ In a health system in crisis, Britain's heart care suffers
▼ + stars: | 2023-02-02 | by ( Alistair Smout | ) www.reuters.com time to read: +11 min

Britain's cardiology departments are a microcosm of the problems that have spread through the system. In November, around 8,000 people like Cogan had been waiting more than a year for heart treatment, up from a couple of dozen pre-pandemic. Reuters GraphicsTeams were still trying to restore cardiac services to pre-pandemic levels, NHS England said. Pandemic disruptions to diagnosis and treatment, in addition to delays in emergency care, had an outsized impact on cardiological care, she said. On one visit to his local Colchester hospital, staff could not find a working ECG machine to read his heart's electrical activity when he felt a twinge.

☆ Pinterest cuts about 150 jobs, Bloomberg News reports
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

The digital-search company that lets users create online pinboards informed the impacted employees on Wednesday, the report said, citing a person familiar with the company. The job cuts came from teams across the San Francisco-based company, though not all were affected to the same degree. "We're making organizational changes to further set us up to deliver against our company priorities and our long-term strategy," a company spokesperson told Reuters, confirming job cuts. The official, however, declined to confirm the number of job cuts. Pinterest will support all impacted employees with separation packages, benefits and other services during the transition, the spokesperson added.

☆ UK and EU reach post-Brexit customs deal for N.Ireland-The Times
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A 'no entry' sign is seen near the Stormont Parliament Buildings in Belfast, Northern Ireland June 13, 2022. The EU has accepted a plan that would avoid the need for routine checks on products going into Northern Ireland, the newspaper reported on Tuesday. Both sides were also hammering out details of a veterinary checks deal, The Times said. A UK government spokesperson said its priority is to protect the Belfast (Good Friday) Agreement and to preserve political stability in Northern Ireland and the UK internal market. After months of tensions between London, Brussels, Belfast and Dublin, progress has recently been made in the dispute over the Northern Ireland Protocol.

☆ Twitter says users will be able to appeal account suspension
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Jan 27 (Reuters) - Twitter users will be able to appeal account suspensions and be evaluated under the social media platform's new criteria for reinstatement, starting Feb. 1, the company said on Friday. Under the new criteria, which follow billionaire Elon Musk's purchase of the company in October, Twitter accounts will only be suspended for severe or ongoing and repeat violations of the platform's policies. Severe policy violations include engaging in illegal content or activity, inciting or threatening violence or harm, and engaging in targeted harassment of other users, among others. Twitter said that going forward, it will take less severe action, in comparison to account suspension, such as limiting the reach of tweets that violate its policies or asking users to remove tweets before continuing to use the account. Reporting by Juby Babu in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

[1/2] A smartphone with the Stripe logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoJan 26 (Reuters) - Digital payments firm Stripe has hired Wall Street banks Goldman Sachs (GS.N) and JP Morgan (JPM.N) to explore a public listing and alternatives to allow employees to cash out stakes in the private company, two sources familiar with the matter told Reuters. Either possibility would address the problem that some employee share options are coming up for expiry but Stripe shares are not currently listed. Many companies backed by venture capital that would normally be regarded as mature enough for public listing have postponed such plans, hoping for higher valuations when the market recovers. The Wall Street Journal reported earlier on Thursday that Stripe had approached investors to raise at least $2 billion at a valuation of $55 billion to $60 billion.

☆ Activist investor Elliott Management takes stake in Salesforce -sources
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Jan 22 (Reuters) - Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc (CRM.N), according to people familiar with the matter. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told Reuters. Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director.

☆ Activist investor Elliott Management takes stake in Salesforce -WSJ
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc (CRM.N), the Wall Street Journal reported on Sunday, citing people familiar with the matter. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told the newspaper, adding that Elliott has followed Salesforce for nearly two decades. Elliott Management Corp and Salesforce did not immediately respond to a Reuters request for comment. Earlier this year Salesforce Inc said it plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown. Reporting by Sneha Bhowmik and Juby Babu in Bengaluru; Editing by Kim Coghill and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Over 500 advertisers have paused spending on Twitter- The Information
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - More than 500 of Twitter's advertisers have paused spending on the micro blogging site since Elon Musk's takeover last year, The Information reported on Wednesday, citing a person familiar with its ad business. The social media company's daily revenue on Jan. 17 was 40% lower than the same day a year ago, the report added. The drop in the company's revenue was first reported by technology newsletter Platformer on Tuesday. Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees and rushing a paid verification feature that resulted in scammers impersonating companies on Twitter. Reporting by Juby Babu and Lavanya Ahire in Bengaluru; editing by Uttaresh.V, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Twitter's revenue down 40% year over year- Platformer reporter
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

Jan 17 (Reuters) - Twitter's revenue is down 40% year-over-year and its billionaire owner Elon Musk's first giant interest payment on the company is due at the end of January, according to a Platformer reporter's tweet on Tuesday. loadingReporting by Juby Babu in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Bankman-Fried says claims made by FTX lawyers 'misleading'
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

Jan 17 (Reuters) - FTX founder Sam Bankman-Fried in a blog post refuted some claims made by the company's lawyers on Tuesday, saying that they were "extremely misleading" and that FTX U.S. was and is solvent. Reporting by Juby Babu in Bengaluru; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse set to cut 10% of European investment bankers, Financial Times reports
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: 1 min

Jan 14 (Reuters) - Swiss lender Credit Suisse (CSGN.S) is looking to cut more than 10% of its staff of European investment bankers this year, the Financial Times reported on Saturday, citing people with knowledge of the moves. Reporting by Juby Babu in Bengaluru Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Pernod Ricard India said it strongly denies the allegations of the directorate, adding that it "will continue to fully cooperate with the Indian authorities in this matter." Benoy Babu, head for international brands for Pernod India, was arrested in November and remains in jail over the case. He faces allegations of money laundering under Indian laws and violating Delhi's liquor policy rules, but has denied wrongdoing. Under the 2021 Delhi liquor policy, hundreds of store licences were awarded to private players as the city government exited the retail business in a move to liberalise trade and boost local government revenue. One Enforcement Directorate document dated Nov. 10 says: "The main motive of Pernod Ricard in cartel creation was to ensure that the retail shops of the cartel partners purchased higher quantity of Pernod Ricard brands ... in lieu of the financial assistance provided."

☆ Musk to step down as Twitter CEO once he finds 'someone foolish' enough as successor
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoDec 20 (Reuters) - Billionaire Elon Musk said on Tuesday he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform. After that, I will just run the software & servers teams," Musk wrote on Twitter. He has not provided a time frame for when he will step down and no successor has been named. Musk has himself said he had too much on his plate, and that he would look for a Twitter CEO.

☆ Musk says he'll step down as Twitter CEO after finding a replacement
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 20 (Reuters) - Elon Musk said on Tuesday he will step down as chief executive of Twitter after finding a replacement. "I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," Musk wrote on Twitter. This is the first time Musk has mentioned stepping down as chief of the social media platform, after Twitter users voted decisively in a poll for him to step down, which the billionaire launched on Sunday evening. Musk has himself admitted he had too much on his plate, and said he would look for a Twitter CEO.

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