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☆ Europe to decide on Novavax's COVID vaccine in October
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Four vials with the "Nuvaxovid" COVID-19 vaccine from Novavax are pictured in Saabruecken, Germany, February 26, 2022. REUTERS/Frank Simon/File photo Acquire Licensing RightsSept 21 (Reuters) - The European Medicines Agency (EMA) expects to decide on the use of Novavax's (NVAX.O) updated COVID-19 vaccine in October, its director Emer Cooke said on Thursday. The agency had started the evaluation process for the protein-based shot on Aug. 24, Cooke said at a press conference. EU regulators recently gave the green light for an updated COVID-19 vaccine from Pfizer (PFE.N) and its German partner BioNTech (22UAy.DE), which targets the XBB.1.5 variant of Omicron. Moderna's (MRNA.O) updated shot is also on track to win approval.

Persons: Frank Simon, Emer Cooke, Cooke, BioNTech, Novavax, Bhanvi, Michael Erman, Saumyadeb Chakrabarty Organizations: REUTERS, European Medicines Agency, Pfizer, U.S . Food, Drug Administration, FDA, Moderna, Thomson Locations: Saabruecken, Germany, United States, Bengaluru, New York

☆ VinFast discloses revenue surge in first report since blockbuster debut
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

VinFast electric vehicles are parked before delivery to their first customers at a store in Los Angeles, California, U.S., March 1, 2023. The company posted revenue of 7.95 trillion Vietnamese dong ($327 million) for the second quarter ended June 30. Net loss in the quarter narrowed to 12.54 trillion Vietnamese dong from 13.65 trillion Vietnamese dong a year earlier, driven by increase in delivery volume and cuts in its research and development costs. The company delivered 9,535 vehicles in the quarter, recording a more than fivefold jump from the first quarter. Still, a large portion the company's revenue comes from sales to subsidiaries of its own parent company Vingroup.

Persons: Lisa Baertlein, Chavi Mehta, Sriraj Organizations: REUTERS, Ford, General Motors, Thomson Locations: Los Angeles , California, U.S, Bengaluru

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The rejection and request for additional testing sharply contrasts the backing from the U.S. Food and Drug Administration's (FDA) independent experts for the spray, neffy, in May. EpiPen-maker Viatris (VTRS.O) had in June petitioned the FDA to require that ARS conduct more trials that closely mimic real-world conditions. It did not test neffy in anaphylaxis, a severe, life-threatening allergic reaction, due to ethical concerns. ARS expects to re-submit its application in the first half of 2024, with an FDA decision likely in the second half.

Persons: Andrew Kelly, William Blair, Tim Lugo, Stacey Saiontz, anaphylaxis, James Tarbox, Christy Santhosh, Sriparna Roy, Jahnavi, Varun Organizations: Food and Drug Administration, FDA, REUTERS, ARS Pharmaceuticals, U.S . Food, Pharma, Regulators, ARS, Texas Tech University Health Sciences Center, Thomson Locations: White Oak , Maryland, U.S, anaphylaxis, Bengaluru

☆ U.S. retailers unveil hiring plans ahead of holiday shopping season
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: 1 min

[1/3] Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - U.S. retailers plan to hire thousands to boost staffing in their warehouses and distribution centers as they prepare for the crucial holiday shopping season. Hiring of seasonal workers by U.S. retailers is set to drop to levels last seen in 2008, according to a report by Challenger, Gray & Christmas, while holiday sales are estimated to grow at their slowest pace in five years. Here is a list of companies that have announced hiring plans for this holiday season:Reporting by Savyata Mishra in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jonathan Alcorn, Savyata Mishra, Sriraj Organizations: REUTERS, U.S, Challenger, Thomson Locations: Target, Burbank , California, Bengaluru

☆ Explainer: UAW strikes target Detroit Three automakers
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 16 (Reuters) - The United Auto Workers (UAW) union on Friday launched strikes at three U.S. auto plants after failing to reach an agreement over new contracts, the first-ever simultaneous labor action against the Detroit Three automakers. Detroit automakers, like their global counterparts, have been focused on cost reductions, which in some cases include job cuts, to help accelerate a shift to electric vehicles (EVs) from gasoline-powered vehicles. Contract talks between the UAW and the Detroit automakers in past years had gone on until the strike deadline and beyond. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike. The walkout on Friday was smaller than some analysts expected, with only three auto plants in Michigan, Ohio and Missouri targeted.

Persons: Andrew Kelly, Shawn Fain, Stellantis, Fain, Biden, Tesla, GM's, Nathan Gomes, Paul Simao, Sriraj Kalluvila, Diane Craft Organizations: United Auto Workers, UAW, International Workers, REUTERS, Detroit Three automakers, General Motors, Ford Motor, Chrysler, Detroit, WHO, Ford, FROM, GM, EV, Deutsche Bank, Lear Corp, Anderson Economic Group, Ford Bronco, Chevrolet, Thomson Locations: New York, Manhattan , New York City , New York, U.S, Michigan , Ohio, Missouri, Chevrolet Colorado, Bengaluru, Washington

☆ Canada plans to amend competition laws to control rising food prices
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: 1 min

Sept 15 (Reuters) - Canada plans to amend its competition laws to enable the regulator to act against anti-competitive mergers in the grocery sector, as the government steps up efforts to battle rising food prices. Canadian Prime Minister Justin Trudeau on Thursday said he had summoned the heads of Canada's top grocers to Ottawa next week to discuss their plans to control food prices. The government could impose new taxes on the grocery chains if they do not provide a convincing plan to limit the rise of food prices, Trudeau said. The amendments will also provide the Competition Bureau with powers to compel the production of information to conduct effective market studies, a release, dated Sept. 14, from the Prime Minister's Office said. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Justin Trudeau, Trudeau, Deborah Sophia, Sriraj Organizations: Canadian, Minister's, Thomson Locations: Canada, Ottawa, Bengaluru

☆ Starbucks' former CEO Schultz to retire from board
▼ + stars: | 2023-09-13 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Former Starbucks CEO Howard Schultz speaks during his book tour in Seattle, Washington, U.S., January 31, 2019. In March, Schultz defended himself and the company against allegations of "union busting" at a U.S. Senate committee hearing. Schultz, 70, stepped down as CEO in March after he returned to the helm for the third time. He oversaw a major revamp in technology at Starbucks' stores during his latest stint, doubling down on equipment and employee training to improve service. Other members on the board include Microsoft (MSFT.O) CEO Satya Nadella and former Domino's Pizza (DPZ.N) boss Richard Allison.

Persons: Howard Schultz, Jason Redmond, Schultz, Stephens, Joshua Long, Wei Zhang, Zhang, Satya Nadella, Richard Allison, Deborah Sophia, Sriraj Organizations: Starbucks, REUTERS, U.S, Wall Street, Alibaba, Alibaba Pictures, Microsoft, Thomson Locations: Seattle , Washington , U.S, U.S, Bengaluru

☆ Vital Energy expands in Permian Basin with deals valued at $1.17 bln
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018. REUTERS/Liz Hampton/File Photo Acquire Licensing RightsSept 13 (Reuters) - Vital Energy has signed agreements valued at about $1.17 billion to expand its acreage in the Permian Basin, where dealmaking is gathering pace as drillers tap the largest U.S. oil patch to quickly replenish their depleting reserves. The deal will increase the company's current production by about 35,000 barrels of oil equivalent per day (boepd), Vital said on Wednesday. Vital in May also acquired Permian assets of Forge Energy II Delaware, an EnCap portfolio company, in a $540 million all-cash deal. The deals announced on Wednesday, with the affiliates of Henry Energy and Henry Resources, Tall City Property Holdings III and Maple Energy Holdings, are expected to close in the fourth quarter, Vital said.

Persons: Liz Hampton, Vital, Henry Energy, Seher, Sriraj Kalluvila Organizations: REUTERS, Vital Energy, drillers, Vital, Forge, Henry, Henry Resources, City Property Holdings, Maple Energy Holdings, Thomson Locations: Midland, Odessa, Texas, U.S, New Mexico, Forge Energy II Delaware, Bengaluru

☆ From UPS to Detroit Three automakers, US labor unions flex muscle
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +4 min

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N), Jetblue Airways (JBLU.O) negotiated new job contracts this year. AUTOMOTIVEUnited Auto Workers (UAW) union has been embroiled in a dispute over wages and pension plans with the Detroit Three automakers. U.S. Steel (X.N), which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steel Workers union. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July. If workers do not vote to ratify the contract, the union will vote the following week on whether to strike.

Persons: Sergio Martinez, Mike Blake, Mrinalika Roy, Sriraj Kalluvila, Shounak Organizations: REUTERS, Bureau of Labor Statistics, Reuters, Hollywood, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Auto Workers, UAW, Detroit Three automakers, Cliffs Inc, United Steelworkers, U.S . Steel, United Steel Workers, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, California, Wichita , Kansas, Cleveland, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

☆ Apple rolls out iPhone 15, watches with 'double tap' feature at flagship event
▼ + stars: | 2023-09-12 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

The announcement of the iPhone 15 line and upgraded smart watches at the company's annual event comes against the backdrop of flagging discretionary spending and expanded curbs on its flagship smartphones in China. Here are the details of the key announcements:The iPhoneApple launched iPhone 15 and iPhone 15 Plus, sporting 6.1-inch and 6.7-inch displays, respectively, similar to their predecessors. All the new models feature a 48-megapixel main camera, with the flagship Pro Max having 5X optical zoom and 3X telephoto capability. The iPhone 15 and iPhone 15 Plus get A16 bionic chip, while the iPhone 15 Pro and the Pro Max will be powered by the A17 pro chip. Apple also said the batteries of iPhone 15 and iPhone 15 Plus, which start at $799 and $899, respectively, are made of 100% recycled cobalt.

Persons: Tim Cook, Loren Elliott, Apple, Max, Pro Max, Yuvraj Malik, Sriraj Organizations: Apple, REUTERS, iPhone Apple, Pro Max, Pro, Thomson Locations: Cupertino , California, U.S, China, Bengaluru

☆ UPS estimates new contract with Teamsters to increase costs 3.3%
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] A United Parcel Service (UPS) vehicle reverses into a facility in Queens, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsCompanies United Parcel Service Inc FollowSept 11 (Reuters) - Parcel Service (UPS.N) said on Monday its new five-year contract covering some 340,000 Teamsters-represented workers in the United States would increase wage and benefit costs at a 3.3% compound annual growth rate over the life of the agreement. The new contract expires on July 31, 2028, and 46% of wage and benefit costs from that agreement will hit this year, UPS Chief Financial Officer Brian Newman said in a recorded message. Contract-related costs in the second half of 2023 are expected to be about $500 million more than UPS expected, Newman said. Reporting by Kannaki Deka in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Sriraj Kalluvila and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Brian Newman, Newman, Kannaki, Lisa Baertlein, Sriraj Kalluvila, Lisa Shumaker Organizations: United Parcel Service, REUTERS, Parcel Service, Teamsters, UPS, Thomson Locations: Queens , New York City, U.S, United States, Bengaluru, Los Angeles

☆ GE to sell stake in aircraft leasing provider AerCap
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Aly Song Acquire Licensing RightsSept 11 (Reuters) - AerCap Holdings NV (AER.N) said on Monday a unit of General Electric Co (GE.N) will sell 32.4 million shares in the aircraft leasing giant through an underwritten public offering. The transaction will be worth $2 billion based on AerCap's closing price, according to LSEG data, and follows a sale by GE of 18 million shares in March. GE said in March 2021 it will "over time" sell its stake - 33.6% as per latest LSEG data - after AerCap bought the conglomerate's aircraft leasing unit in a $30 billion deal. AerCap also agreed on Monday to repurchase 12.2 million shares, worth $750 million. GE Capital US Holdings Inc expects to grant the underwriters a 30-day option to purchase up to 4.9 million additional ordinary shares.

Persons: Aly, AerCap, Goldman Sachs, Morgan, Kannaki, Sriraj Organizations: Electric, GE, Artificial Intelligence, REUTERS, AerCap Holdings, General Electric Co, GE Capital US Holdings Inc, Citigroup, Barclays, BofA Securities, Thomson Locations: Shanghai, China, Dublin, Bengaluru

☆ GE to sell $2.44 bln stake in aircraft leasing provider AerCap
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

AerCap said GE Capital U.S. Holdings will sell about 40.7 million shares of the company at $59 per share. The offering was upsized from the previously announced 32.4 million shares. The transaction follows a sale of 18 million shares by GE in March. In March 2021, GE said it would "over time" sell its stake - 33.6% as per latest LSEG data - after AerCap bought the conglomerate's aircraft leasing unit in a $30 billion deal. AerCap also agreed on Monday to repurchase about 15.3 million shares, worth about $878 million, at $57.53 per share.

Persons: Aly, AerCap, Goldman Sachs, Morgan, Kannaki Deka, Sriraj Kalluvila Organizations: Electric, GE, Artificial Intelligence, REUTERS, AerCap Holdings, General Electric Co, GE Capital U.S . Holdings, GE Capital, underwriters, Citigroup, Barclays, BofA Securities, Thomson Locations: Shanghai, China, Dublin, Bengaluru

☆ Nikola semi-truck catches fire in second incident in a week
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Fabian Bimmer Acquire Licensing RightsCompanies Nikola Corp FollowSept 8 (Reuters) - A Nikola (NKLA.O) electric semi-truck caught fire near the company's Phoenix headquarters in Arizona, it said on Friday, the second such incident this week involving the firm's vehicle. Earlier this week, another of its Tre battery-electric truck caught fire in Tempe, Arizona, which affected one battery pack. The company had suspected foul play when it started an investigation in June after trucks at its headquarters caught fire. However, last month Nikola cited a coolant leak inside a battery pack as the cause following the investigation. A total of 209 battery-powered electric trucks were in the marketplace between dealers and customers at the time of the recall.

Persons: Nikola, Fabian Bimmer, Akash Sriram, Sriraj Organizations: IAA Transportation, REUTERS, Nikola, Thomson Locations: Hanover, Germany, Arizona, Tempe , Arizona, Bengaluru

☆ Rivian to benefit next year as EV battery material prices ease - CFO
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

The Rivian name shown on one of the carmaker's new electric SUV vehicles in San Diego, U.S., December 16, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 7 (Reuters) - Electric-vehicle maker Rivian Automotive (RIVN.O) will benefit late this year and in 2024 from a significant deflation for battery material prices, finance chief Claire McDonough said at a technology conference on Thursday. Prices for raw materials used in batteries surged to record highs in recent years on burgeoning demand for EVs, coupled with tight supplies due to the pandemic that were exacerbated by Russia's invasion of Ukraine. Lower costs of battery raw materials could potentially boost margins for Rivian and its rivals who have struggled with high costs and dwindling cash balances. Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; Editing by Sriraj Kalluvila and Timothy GardnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Claire McDonough, TrendForce, McDonough, Goldman Sachs, Akash Sriram, Abhirup Roy, Sriraj Kalluvila, Timothy Gardner Organizations: REUTERS, Rivian, EVs, Goldman, Thomson Locations: San Diego , U.S, Ukraine, Bengaluru, San Francisco

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 7 (Reuters) - Charter Communications (CHTR.O) Chief Executive Chris Winfrey said he has a sense of urgency to resolve a distribution dispute with Walt Disney (DIS.N), in remarks on Thursday at a tech conference in San Francisco. Charter is locked in a distribution battle with Disney as the second-largest U.S. cable company negotiates with the media conglomerate over how much its channels are worth and how to package them. Such "carriage disputes" are commonplace in the media world, though this negotiation may shape the future of television in the streaming era. Disney issued a statement saying it “stands ready” to resolve the carriage dispute, and “do what’s in the best interests” of Charter’s customers.

Persons: Brendan McDermid, Chris Winfrey, Walt Disney, “, ” Winfrey, Goldman Sachs, Winfrey, ” Disney, Scott Robson, Robson, Dawn Chmielewski, Akash Sriram, Sriraj Kalluvila, Tomasz Janowski Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Charter Communications, Disney, Technology, ESPN, ABC, Charter's, U.S, NFL, P Global Market Intelligence, Thomson Locations: New York, U.S, San Francisco, Los Angeles, Bengaluru

☆ SEC probing Ryan Cohen's ownership, sale of Bed Bath & Beyond shares - WSJ
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Shoppers leave a Bed Bath & Beyond store, after the company declared bankruptcy, in Danvers, Massachusetts, U.S., April 24, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsSept 7 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is investigating billionaire Ryan Cohen's ownership and surprise sale of Bed Bath & Beyond shares, the Wall Street Journal reported on Thursday. Bed Bath & Beyond and the SEC did not immediately respond to Reuters' requests for comment. Cohen could not be immediately reached for comment. In April, Bed Bath & Beyond filed for Chapter 11 bankruptcy.

Persons: Brian Snyder, Ryan Cohen's, Cohen, Granth, Sriraj Organizations: Shoppers, REUTERS, U.S . Securities, Exchange Commission, Bed, Wall Street, SEC, GameStop, Thomson Locations: Danvers , Massachusetts, U.S, Bed Bath, Bengaluru

The logo of Amazon is seen on the company's logistics centre in Boves, near Amiens, France, April 8, 2022. The lawsuit will target the company's logistics program, Fulfillment by Amazon, pricing on its website by third-party sellers and will suggest "structural remedies" that could break the company up, the report said on Tuesday. Amazon and the regulator declined to comment when contacted by Reuters. Amazon has been criticized for allegedly favoring its own products and disfavoring outside sellers on its platform, among other allegations. Reporting by Akash Sriram in Bengaluru and Diane Bartz in Washington; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Christian Hartmann, Donald Trump's, Lina Khan, Akash Sriram, Diane Bartz, Sriraj Organizations: REUTERS, U.S . Federal Trade, Amazon.com, Wall Street Journal, Reuters, Google, Apple, Yale, Amazon, Thomson Locations: Boves, Amiens, France, Bengaluru, Washington

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

The logo of Calgary-based Enbridge, one of North America's largest energy infrastructure companies, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren Acquire Licensing RightsSept 5 (Reuters) - Enbridge (ENB.TO) will buy three utilities from Dominion Energy (D.N) for $14 billion including debt, the Canadian pipeline operator said on Tuesday, creating North America's largest natural gas provider and doubling its gas distribution business. The deals for East Ohio Gas, Questar Gas, and Public Service Co of North Carolina will consist of $9.4 billion in cash and $4.6 billion of assumed debt. U.S.-listed shares of Enbridge fell 6.5% to $33.01 in extended trading after the company also announced a C$4 billion ($2.9 billion) bought-share sale to fund a portion of the deal. The modest improvement in Enbridge's business risk profile is not enough to "offset ongoing pressure on the company's financial profile," said Gavin MacFarlane, vice president and senior credit officer at Moody's, in a statement.

Persons: Chris Helgren, Berkshire Hathaway, Greg Ebel, Enbridge, Patrick Murray, Moody's, Gavin MacFarlane, Morgan Stanley, Sullivan, Cromwell, McCarthy Tétrault, Arunima Kumar, David French, Denny Thomas, Shailesh Kuber, Sriraj Kalluvila, Richard Chang Organizations: REUTERS, Dominion Energy, East Ohio Gas, Public Service Co, Dominion, Federal Trade Commission, Foreign Investment, Co LLC, RBC Capital Markets, Thomson Locations: Calgary, North, Vancouver , British Columbia, Canada, Canadian, North Carolina, Enbridge, Point, United States, Ohio , North Carolina , Utah , Idaho, Wyoming, North America, Bengaluru, New York

☆ Australia's TPG Telecom extends due diligence period for $4 bln fibre assets offer
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

Sept 6 (Reuters) - Australia's TPG Telecom Ltd (TPG.AX) has extended until Oct. 4 an exclusive due diligence period granted to rival Vocus Group for the A$6.3 billion ($4.02 billion) offer for its non-mobile fibre assets. Discussions between the parties are ongoing and incomplete and its board has not made any decision to accept any offer, TPG said on Wednesday. Reuters in August reported that TPG, one of the country's top telecom firms, had received a non-binding offer from Vocus to buy some of its non-mobile fibre assets. Vocus, formed by infrastructure investors Macquarie Infrastructure and Aware Super, specialises in wholesale fibre networks. It has offered to buy certain Enterprise, Government and Wholesale (EGW) assets and associated fixed infrastructure assets, including the wholesale broadband business, Vision Network.

Persons: Poonam, Devika Syamnath Organizations: Australia's TPG Telecom Ltd, Vocus Group, TPG, Reuters, Macquarie Infrastructure, Enterprise, Government, Wholesale, Vision, Thomson Locations: dealmaking, Bengaluru

☆ 'Barbie Botox' goes viral but doctors inject caution
▼ + stars: | 2023-09-01 | by ( Leroy Leo | ) www.reuters.com time to read: +4 min

But since the "Barbie" movie released in July, there has been an uptick in demand for use as a cosmetic procedure. Meanwhile, Revance and Evolus Inc (EOLS.O), which make similar toxins under the brand Daxxify and Jeuveau, respectively, told Reuters that though "Barbie Botox" has picked up in recent months, they do not see the trend significantly boosting sales. However, the doctors said they were concerned about a rise in use among younger women - and six doctors warned that procedures by underqualified staff at some medispas raised the risk of complications. Doctors also stressed the risk with administration by people who may not be properly qualified, especially at medispas where there is little oversight. "The science isn't quite there yet, in order to support the clinical profile of it," said Evolus CEO David Moatazedi.

Persons: Margot Robbie, BarbieBotox, that's, Barbie, Dustin Sjuts, Scot Glasberg, Revance, Shilpi Kheterpal, Kheterpal, Doctors, Melissa Levoska, David Moatazedi, Leroy Leo, Sriraj Organizations: Therapeutics, Reuters, Plastic Surgery Foundation, U.S . Food, Drug Administration, Evolus Inc, AbbVie Inc, Cleveland Clinic, Icahn School of Medicine, Thomson Locations: New York, U.S, medispas, Mount Sinai, Bengaluru

☆ Pot firms surge as US move to ease curbs sparks hopes of legalization
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Shares of cannabis firms Cronos Group (CRON.TO), OrganiGram Holdings (OGI.TO), Aurora Cannabis (ACB.TO), Canopy Growth (WEED.TO) jumped between 6% and 25%. Verano Holdings (VRNO.CD), Green Thumb Industries (GTII.CD), Cresco Labs (CL.CD) and Curaleaf Holdings (CURA.CD) and Goodness Growth (GDNS.CD) rose between 15% and 37%. "Certainly moving cannabis off of Schedule 1 is the right decision and long overdue. The firm held investments in cannabis retailer and producer Green Thumb, and cannabis data platform Flowhub, according to its website. Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: cagey, Ty Collin, Patrick Rea, Green, Arunima Kumar, Sriraj Organizations: Cronos Group, OrganiGram Holdings, Verano Holdings, Green Thumb Industries, Cresco Labs, Curaleaf Holdings, Cannabis ETF, U.S . Department of Health, Human Services, Drug Enforcement Agency, Banking, Poseidon Garden Ventures, Thomson Locations: U.S, Aurora, Bengaluru

☆ Factbox: From UPS to Detroit Three automakers, US labor unions flex muscle
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

Teamster member Sergio Martinez yells out during a rally outside a UPS facility in downtown in Los Angeles, California, U.S. July 19, 2023. AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N), Jetblue Airways (JBLU.O) negotiated new job contracts this year. Members of some unions like the Southwest Airlines Pilots Association have voted to authorize a strike if a new contract is not reached. U.S. Steel (X.N), which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steel Workers union. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July.

Persons: Sergio Martinez, Mike Blake, Mrinalika Roy, Sriraj Organizations: REUTERS, Bureau of Labor Statistics, Reuters, Screen, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Auto Workers, UAW, Detroit Three, Cliffs Inc, United Steelworkers, U.S . Steel, United Steel Workers, Workers, Green Thumb Industries, Labor, Thomson Locations: Los Angeles , California, U.S, Wichita , Kansas, Cleveland, Los Angeles, New York City, Chicago, Illinois, New Jersey, Bengaluru

☆ A mixed picture for retailers as bargain-hunting shoppers pick their spots
▼ + stars: | 2023-08-29 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

A sale sign greets shoppers at a retail store in Carlsbad, California, U.S., May 25, 2023. Sephora "performed exceptionally well" with strength in North America in the first half of the year, the beauty retailer's owner LVMH (LVMH.PA) said last month. Retailers have also flagged the impact from Americans prioritizing experiences like movies, vacations and concerts over discretionary purchases. Tempered forecasts from sportswear retailers Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) also added to the mixed picture, with Dick's also citing an increase in organized retail crime and theft at stores. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Edward Jones, Brian Yarbrough, LVMH, Yarbrough, Dick's, Corie Barry, Liza Amlani, We've, Christina Hennington, Deborah Sophia, Sriraj Organizations: REUTERS, Ross Stores, Walmart, Dick's Sporting, Electronics, U.S . Labor Department, Thomson Locations: Carlsbad , California, U.S, North America, Bengaluru

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