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☆ J&J unit says does not intend to bid for Horizon Therapeutics
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: 1 min

Dec 3 (Reuters) - Johnson & Johnson (JNJ.N) unit Janssen Global Services said on Saturday that it does not intend to make an offer for biotech company Horizon Therapeutics Plc (HZNP.O). Last month, Horizon Therapeutics - which has a market capitalization of about $18 billion - said it was in talks with Amgen Inc (AMGN.O), Sanofi (SASY.PA) and Janssen Global Services, all three of which have been active in deal-making this year. It expects over $4 billion in global annual peak sales for its biggest drug Tepezza, which is used to treat thyroid eye disease. French drugmaker Sanofi (SASY.PA) said on Friday that if it decides to bid for Horizon, it would do so in cash. Reporting by Mrinmay Dey in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Disney buys MLB's stake in streaming firm BAMTech for $900 mln
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - Walt Disney Co (DIS.N) disclosed on Tuesday that it has taken full control of BAMTech, a video-streaming firm spun off from Major League Baseball's digital media company MLB Advanced Media. Disney earlier this month purchased the remaining stake in BAMTech from Major League Baseball for $900 million, the company said in a SEC filing. Previous to the transaction, streaming technology services provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB). BAMTech provides the streaming platform for such entities as Worldwide Wrestling Entertainment and Warner Bros Discovery Inc's HBO. Streaming service provider Hulu is owned 67% by Disney and 33% by NBC Universal (NBCU).

☆ FTX remains focus of 'active' investigation, Bahamas attorney general says
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +3 min

Nov 27 (Reuters) - Collapsed cryptocurrency exchange FTX remains the subject of "an active and ongoing investigation" by Bahamian authorities, Bahamian Attorney General Ryan Pinder said on Sunday, as he praised the Bahamas' regulatory regime and swiftness with which it responded to the crisis. FTX, which had been among the world's largest cryptocurrency exchanges, is headquartered in the Bahamas. In mid-November, the Royal Bahamas Police said that government investigators in the Bahamas were looking at whether any "criminal misconduct occurred." read more"We are in the early stages of an active and ongoing investigation," Pinder said on Sunday, according to prepared remarks for the speech. Bahamas securities regulators had revoked FTX Digital's license and began involuntary liquidation proceedings the day before the U.S. bankruptcy case kicked off.

☆ Black Friday online sales to hit record despite high inflation -Adobe Analytics
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - U.S. online spending is expected to set a record for Black Friday, according to Adobe Analytics, as steep discounts lured consumers against the backdrop of high inflation, kicking off the year's biggest shopping event on a strong note. Initial numbers from Adobe Analytics, the data and insights arm of software company Adobe Inc (ADBE.O), showed shoppers are expected to spend between $9 billion and $9.2 billion online on Friday, topping its forecast for a modest 1% rise to $9 billion. As of 6 p.m. EST (2300 GMT) on Friday, Adobe data showed shoppers spent an estimated $7.28 billion online. More Americans placed orders through their smartphones over the holiday, with mobile shopping expected to drive 53% of Black Friday online sales. "As Black Friday discounts transition to being pre-Cyber Monday discounts, we expect online spending momentum to continue through the weekend."

☆ FTC likely to file lawsuit to block Microsoft bid for Activision -Politico
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

[1/4] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/IllustrationNov 23 (Reuters) - The U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft Corp's (MSFT.O) $69 billion takeover bid for video game publisher Activision Blizzard Inc (ATVI.O), Politico reported on Wednesday, citing people familiar with the matter. The acquisition could damage the industry if Microsoft refused to give rivals access to Activision's best-selling games, Britain's antitrust regulator has said. The deal has drawn criticism from Sony, maker of the Playstation console, citing Microsoft's control of games like "Call of Duty." A spokesperson for Microsoft said: "We are prepared to address the concerns of regulators, including the FTC, and Sony to ensure the deal closes with confidence.

☆ French Caterer Elior weighs a tie-up with biggest shareholder Derichebourg -Bloomberg News
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, Nov 23 (Reuters) - Elior (ELIOR.PA) is discussing a possible tie-up with its biggest shareholder Derichebourg (DBG.PA) as the French caterer looks to shore up its balance sheet amid ongoing high-inflation environment, Bloomberg News reported on Wednesday. An Elior spokesperson declined to comment on the Bloomberg News report while officials at Derichebourg could not immediately be reached for comment. "The board of directors is finalizing examining various scenarios with the aim to retain the one that will optimize the Group's strategic orientations and improve its financial position," Gault said in a statement. Earlier this year, French metal scrap recycler Derichebourg increased its stake in Elior, to 19.6%, making it the catering group's largest shareholder. Elior's biggest investor, Derichebourg, has no plans to make an offer for the entire company if the tie-up plan proceeds, according to the report.

☆ UK council tax caps to be eased amid local authority funding crisis -FT
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - British finance minister Jeremy Hunt is set to give local authorities the right to raise council tax by a maximum of 4.99% from 2.99% before having to put the increase to a local referendum, the Financial Times reported on Wednesday citing people familiar with the matter. Hunt will make the announcement in the upcoming Autumn Statement on Thursday, the newspaper reported. Reporting by Mrinmay Dey in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

KATHMANDU, Nov 9 (Reuters) - An earthquake of magnitude 6.6 struck Nepal early Wednesday, killing at least six people, destroying multiple houses in the western district of Doti and shaking the Indian capital New Delhi, officials said. "Expressing my heartfelt condolences to the families of those who died in the earthquake," Prime Minister Sher Bahadur Deuba wrote on Twitter. Nepal's seismological centre set the earthquake at a magnitude of 6.6. The European-Mediterranean Seismological Centre (EMSC) had pegged the earthquake at a magnitude of 5.6. Media reports after the quake showed tremors were also felt in New Delhi and surrounding areas, some 350km (220 miles) from Doti.

☆ Six dead after earthquake of magnitude 6.6 strikes Nepal
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - An earthquake of magnitude 6.6 struck Nepal early Wednesday, killing at least six people and destroying multiple houses in the district of Doti, officials said. Nepal's seismological centre set the earthquake at a magnitude of 6.6. The European-Mediterranean Seismological Centre (EMSC) had pegged the earthquake at a magnitude of 5.6. India's National Center for Seismology marked the quake at a magnitude of 6.3. Reporting by Mrinmay Dey in Bengaluru; Editing by Leslie Adler and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ UK poised to announce gas deal with U.S. after climate change summit -Telegraph
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

Nov 7 (Reuters) - British Prime Minister Rishi Sunak is poised to announce a major gas deal with the U.S. after the COP27 climate change summit, The Telegraph reported on Monday. Talks about the "energy security partnership" are in their final stages, with the U.S. planning to sell billions of cubic metres of liquefied natural gas to Britain over the coming year, the report added. Reporting by Mrinmay Dey in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Musk lays out Twitter mission, sparks debate on content accuracy
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +3 min

Some advertises have pulled spending since the deal was announced, with Musk blaming activist groups for pressuring advertisers amid concerns about its content moderation. "Twitter needs to become by far the most accurate source of information about the world. That’s our mission," Musk said on Sunday. Musk also said on Sunday Twitter users engaging in impersonation without clearly specifying it as a "parody" account will be permanently suspended without a warning. Benefits of the verification service would include "half the ads", the ability to post longer videos to Twitter and priority ranking for quality content, Twitter said.

☆ Twitter impersonators will be suspended permanently, Musk says
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Elon Musk said on Sunday Twitter users engaging in impersonation without clearly specifying it as a "parody" account will be permanently suspended without a warning. loadingIn a separate tweet, Musk said Twitter previously issued a warning before suspension, but as Twitter is rolling out widespread verification, there will be no warning as well as "no exceptions." loading"This will be clearly identified as a condition for signing up to Twitter Blue," Musk said, adding any name change at all will cause temporary loss of verified checkmark. Tesla Inc (TSLA.O) boss Musk, who also will serve as chief executive of Twitter, last month said Twitter will be forming a content moderation council with "widely diverse viewpoints". On the topic of banned accounts, Musk last week said they will not be allowed back onto Twitter until the social media platform has "a clear process for doing so."

☆ UK to announce U.S. gas deal after climate change summit -Telegraph
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - British Prime Minister Rishi Sunak is poised to announce a major gas deal with the U.S. after the COP27 climate change summit, The Telegraph reported on Monday. Earlier this year, the United States agreed to supply 15 billion cubic metres of liquefied natural gas to the European Union to help it wean off Russian energy supplies. Sunak on Monday at the COP27 climate change summit said the war should accelerate efforts to wean the world off fossil fuels. Wholesale gas prices have soared in recent months as economies reopen from COVID-19 lockdowns and high demand for liquefied natural gas in Asia pushed down supplies to Europe. Around 12 British energy suppliers have already collapsed this year, affecting more than 2 million customers.

☆ Twitter handles engaging in impersonation without clearly specifying will be permanently suspended, Musk says
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: 1 min

Nov 6 (Reuters) - Elon Musk tweeted on Sunday that any Twitter handles engaging in impersonation without clearly specifying "parody" will be permanently suspended. loadingMusk has said Twitter will create a content moderation council composed of representatives with "widely divergent views." Reporting by Mrinmay Dey in Bengaluru; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Facebook parent Meta is preparing large-scale layoffs this week - WSJ
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

Meta declined to comment on the WSJ report. The disappointing outlook comes as Meta is contending with slowing global economic growth, competition from TikTok, privacy changes from Apple (AAPL.O), concerns about massive spending on the metaverse and the ever-present threat of regulation. Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. Several technology companies, including Microsoft Corp (MSFT.O), Twitter Inc and Snap Inc (SNAP.N) have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.

☆ Twitter to delay badge changes until after U.S. midterm elections, the New York Times reports
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 6 (Reuters) - Twitter is delaying the rollout of verification check marks to subscribers of its new $8 a month service until after Tuesday's midterm elections, the New York Times reported on Sunday. The U.S. midterm elections on Tuesday will decide whether Republicans or President Joe Biden's Democrats will control Congress. Changes to Twitter's verification process came a week after Elon Musk took over the social media company in a $44 billion deal. On Saturday, Twitter updated its app in Apple's App Store to begin charging $8 for blue check verification marks. Reuters reported on Thursday that Musk has directed Twitter's teams to find up to $1 billion in annual infrastructure cost savings.

☆ Facebook parent Meta is preparing large-scale layoffs this week, Wall Street Journal reports
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Meta Platforms Inc (META.O) is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday. Chief Executive Mark Zuckerberg has said he expects the metaverse investments to take about a decade to bear fruit. In the meantime, he has had to freeze hiring, shutter projects and reorganize teams to trim costs. So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year. Several technology companies, including Microsoft Corp (MSFT.O), Twitter Inc and Snap Inc (SNAP.N) have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.

Oct 30 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) will resume using Russian airspace on some flights, the Hong Kong-based airline said on Sunday, restarting flights it had stopped after Moscow invaded Ukraine in February. Cathay Pacific will begin flying from New York to Hong Kong using the popular "Polar route" from Tuesday, the company told Reuters in an emailed statement. Citing strong headwinds and payload issues affecting its flights from the East Coast of North America to Hong Kong, Cathay Pacific said it will overfly the far eastern part of Russia. Cathay Pacific said in March that it was not routing flights through Russia's airspace, avoiding the area after the invasion of Ukraine despite longer flight times. Russia this year closed its airspace to European and U.S. airlines, forcing some long-haul flights to Asia to take longer routes.

☆ Goldman Sachs sees Fed rates peaking at 5% in March - Bloomberg News
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

Oct 30 (Reuters) - Goldman Sachs Group Inc's (GS.N) economists said the U.S. Federal Reserve could bump up interest rates to as high as 5% by March 2023, 25 basis points above its earlier predictions, Bloomberg News reported on Sunday. Goldman Sachs Chief Executive Officer David Solomon last week said the U.S. Federal Reserve could hike rates beyond 4.5-4.75% if it does not see "real changes in behaviour." Goldman's economists added that the journey to 5% hike includes increases of 75 basis points this week, 50 basis points in December and 25 basis points in February and March, the report added. Goldman Sachs did not immediately respond to a Reuters' request for comment. The central bank is expected to raise rates by 75 basis points for a fourth straight time at the conclusion of its next policy meeting on Nov. 1-2.

☆ Adidas ends Ye deal over hate speech, costing rapper his billionaire status
▼ + stars: | 2022-10-27 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +4 min

Adidas put the tie-up, which has produced several hot-selling Yeezy branded sneakers, under review this month. "Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said on Tuesday. Forbes magazine said the end of the deal meant Ye's net worth shrank to $400 million. The magazine had valued his share of the Adidas partnership at $1.5 billion. On Tuesday, Gap, which had ended its partnership with Ye in September, said it was taking immediate steps to remove Yeezy Gap products from its stores and that it had shut down YeezyGap.com.

☆ Twitter shares to be suspended on NYSE as Musk nears takeover
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

Oct 27 (Reuters) - Twitter Inc (TWTR.N) shares will be suspended from trading on Friday, the New York Stock Exchange's website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal for the social media platform. Musk, the world's richest person, visited Twitter's headquarters in San Francisco on Wednesday and hinted he was the company's top boss after updating his profile bio to "Chief Twit". The company's stock closed at $53.35 on the NYSE on Wednesday. They were up about 1% at $53.90 in extended trading, slightly below Musk's offer price. Reporting by Mrinmay Dey in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Adidas plans to end Kanye West partnership over 'offensive behaviour' - Bloomberg News
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - German sporting goods maker Adidas AG (ADSGn.DE) plans to end its partnership with American rapper Kanye West, following a rash of offensive behaviour from the performer and designer, Bloomberg News said on Tuesday, citing people familiar with the matter. Adidas may announce the move as early as Tuesday, the report added, saying the rapper, who now goes by the name Ye, has made controversial statements, including anti-Semitic social media posts, in recent weeks. Adidas on Oct. 6 said it was reviewing its business partnership with the rapper and fashion designer. West which has been partnering with Adidas since 2013 had been publicly critical of Adidas and its CEO, adding that the sporting goods maker were copying his ideas, CNBC had earlier reported. Ye recently has agreed to buy Parler, the social media platform popular among U.S. conservatives.

☆ Adidas ends Kanye West partnership over antisemitism, hate speech
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

"Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said. Register now for FREE unlimited access to Reuters.com RegisterA lawyer representing Kanye West did not respond to a request for comment. Adidas put the partnership under review earlier in October "after repeated efforts to privately resolve the situation." Ye has courted controversy in recent months by publicly ending major corporate tie-ups and due to outbursts on social media against other celebrities. His Twitter and Instagram accounts were restricted, with the social media platforms removing some of his online posts that users condemned as antisemitic.

☆ Mubadala, KKR to invest about $1 bln in Asia
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - KKR & Co (KKR.N) and Abu Dhabi state fund Mubadala Investment Co (MUDEV.UL) said they had entered into an agreement to invest about $1 billion in Asia. The agreement, announced on Sunday, will see the two firms investing across performing private credit opportunities in the Asia Pacific region. Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May. In APAC, KKR has deployed nearly $3 billion in credit capital since 2019. The credit business in the region is part of KKR’s about $178 billion global credit platform.

☆ ASOS in talks with lenders to amend terms of $391 mln facility
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 15 (Reuters) - British online fashion retailer ASOS (ASOS.L) is in talks with lenders to amend the terms of its 350 million pound ($391 million) borrowing facility, it said on Saturday. Sky News said the lenders were lining up AlixPartners and law firm Clifford Chance to advise them on an "unfolding situation". It warned last month that it expected profit before tax in the year to Aug. 31 to be around the bottom end of its guidance of 20 million pounds to 60 million pounds after weaker than projected August sales. ASOS also forecast full-year net debt of about 150 million pounds, which was higher than previous guidance. "This happened towards the end of August and there has been no adverse impact on trading relationships with our suppliers," ASOS said in response.

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