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☆ Enphase Energy slumps as lukewarm US demand weighs on revenue forecast
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

July 28 (Reuters) - Shares of Enphase Energy (ENPH.O) slumped nearly 11% on Friday, after the solar inverter maker's third-quarter revenue target fell well short of analyst estimates due to weak demand. The Fremont, California-based company forecast revenue between $550 million and $600 million for the quarter ending Sept. 30, compared with analysts' estimate of $746.5 million. Therefore, we are taking aggressive and prudent actions in the U.S. to manage down the channel inventory," said Enphase Energy CEO Badrinarayanan Kothandaraman. Enphase also announced a new $1 billion share buyback plan, which failed to stem the share selloff. Reporting by Medha Singh and Mrinalika Roy in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Badrinarayanan Kothandaraman, Wells Fargo, Enphase, Medha Singh, Mrinalika Roy, Krishna Chandra Organizations: Enphase Energy, SolarEdge Technologies, Thomson Locations: United States, Texas, Arizona, Fremont , California, U.S, Bengaluru

REUTERS/Benoit TessierJuly 27 (Reuters) - Visa (V.N) and Mastercard (MA.N), which bet on China to boost travel spending, have had to contend with a disappointing first half of the year as post-COVID momentum in the world's second-biggest economy loses steam. In their earnings calls this week, both card giants said travel in China was nowhere near pre-pandemic levels. "Looking at Mainland China specifically, cross-border travel continued to improve but remains well below 2019 levels," said Vasant Prabhu, Visa's chief financial officer. His counterpart at Mastercard, Sachin Mehra, also said there was further room for travel recovery in China. Reuters GraphicsInbound cross-border travel to China stood at nearly 50% of 2019 levels, while outbound travel was nearly 70%, the company said.

Persons: Benoit Tessier, Vasant Prabhu, Sachin Mehra, Edward Jones, Logan Purk, Manya Saini, Niket, Krishna Chandra Organizations: REUTERS, Mastercard, Reuters, U.S, Reuters Graphics Visa, Thomson Locations: China, Mainland China, U.S . Federal, Bengaluru

☆ Visa discloses further demands from US DoJ over ongoing anti-trust probe
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Visa (V.N) disclosed on Wednesday it had received demands from the U.S. Department of Justice for additional documents and information over its debit card practices in the United States and competition with other payment networks. The civil investigative demands from the anti-trust division of the DoJ were made on May 2 and add to the ongoing probe that has been underway since early 2021 on whether Visa uses anti-competitive practices in the debit card market. The company is cooperating with the division in connection with the investigation, Visa said in a regulatory filing. Rival Mastercard (MA.N) had, in April, also disclosed a probe by the DoJ for similar practices. Both Visa and Mastercard have faced increasing scrutiny in recent years over their dominance in the cards market.

Persons: Manya Saini, Krishna Chandra Organizations: U.S . Department of Justice, DoJ, Visa, Mastercard, European Union, Thomson Locations: United States, Bengaluru

☆ Gap names Mattel executive as CEO - WSJ
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: 1 min

July 26 (Reuters) - Gap (GPS.N) has appointed Mattel (MAT.O) executive Richard Dickson as its new chief executive officer, the retail groups's chairman and interim CEO told the Wall Street Journal on Wednesday. Shares of the company were up 6.4% at $9.80 in premarket trade. Last year, Gap's former CEO, Sonia Syngal, stepped down just after a liitle over two years into the role, as the apparel seller wrestled with weak demand for its casual attire and a slump in its stock price. Gap and Mattel did not respond to a Reuters' requests for comment. Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra Eluri and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Richard Dickson, Sonia Syngal, Granth, Krishna Chandra Eluri, Vinay Dwivedi Organizations: Mattel, Wall, Thomson Locations: Bengaluru

☆ Binance withdraws application for crypto license in Germany
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Binance has withdrawn its application for a crypto license in Germany, suggesting the world's biggest cryptocurrency exchange is rethinking its immediate expansion plans amid a tough regulatory stance towards the industry. German regulators had told Binance they would not grant it a crypto custody license, Reuters reported last month. "Binance confirms it has proactively withdrawn its BaFin (Germany's financial regulator) application. The situation, both in the global market and regulation, has changed significantly," a spokesperson for the company said on Wednesday. "Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes," the spokesperson added.

Persons: Binance, Changpeng Zhao, Niket, Elizabeth Howcroft, KRishna Chandra Organizations: Reuters, U.S . Securities, Exchange, CoinDesk, Thomson Locations: Germany, Netherlands, France, Bengaluru, London

July 26 (Reuters) - Mastercard (MA.N) has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States. Most banks in the country do not service cannabis companies as marijuana remains illegal at the federal level despite several states legalizing its medicinal and recreational use. "The federal government considers cannabis sales illegal, so these purchases are not allowed on our systems," the spokesperson added. Sunburn Cannabis CEO Brady Cobb said in a statement that "this move is another blow to the state-legal cannabis industry and patients/consumers who want to access this budding category." The SAFE Banking Act is a crucial legislation that would make it easier for the cannabis industry to access banking services.

Persons: Brady Cobb, Darren Weiss, John Cornyn, Chuck Schumer's, Niket Nishant, Arun Koyyur, Krishna Chandra Eluri Organizations: Mastercard, Republican, Bloomberg News, Thomson Locations: United States, Washington, Bengaluru

☆ Visa discloses further demands from US Justice Dept. over antitrust probe
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

Persons: Manya Saini, Krishna Chandra Organizations: U.S . Department of Justice, DoJ, Visa, Mastercard, European Union, Thomson Locations: United States, Bengaluru

☆ Apple supplier Corning Q3 revenue forecast hit by consumer electronics slump
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Specialty glass maker Corning (GLW.N) forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts' estimates of $3.70 billion, according to data from Refinitiv. Shares of Corning, whose Gorilla glass for smartphones is used by companies such as Apple (AAPL.O) and Samsung Electronics (005930.KS), were down nearly 1.5% before the bell. "We expect to continue improving profitability and cash flow despite our relatively muted sales environment," said CEO Wendell Weeks. Corning posted an adjusted profit of 45 cents per share, just short of the 46 cents estimated by analysts.

Persons: Corning, Wendell Weeks, Jaspreet Singh, Krishna Chandra Organizations: Refinitiv, Apple, Samsung Electronics, Thomson Locations: Corning, Bengaluru

☆ Meme stock AMC jumps as investors cheer stock conversion plan halt
▼ + stars: | 2023-07-24 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

July 24 (Reuters) - Shares of retail traders' favorite AMC Entertainment Holdings (AMC.N) soared on Monday after a U.S. court blocked the theater chain's stock conversion plan that risked diluting investors' holdings. AMC had told investors it was burning cash at an unsustainable rate and warned that an inability to raise capital could force it into bankruptcy. The company has filed a revised petition for the stock conversion plan addressing the Delaware court's concerns, CEO Adam Aron said on Sunday. The highly shorted AMC common shares were the most traded U.S. stocks at 9:41 a.m. "Trying to short AMC during a short squeeze is about as smart as burning money," said Matthew Tuttle, chief executive offier at Tuttle Capital Management, adding that there is "not much juice left in the squeeze."

Persons: Adam Aron, Thomas Hayes, Oppenheimer, Ortex, Matthew Tuttle, offier, Tuttle, Medha Singh, Krishna Chandra Eluri Organizations: AMC Entertainment Holdings, AMC, Great, Great Hill Capital, Tuttle Capital Management, GameStop, Koss Corp, Thomson Locations: Delaware, Great Hill, New York, Bengaluru

☆ Public Storage to acquire Simply Self Storage for $2.2 bln
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Self-storage operator Public Storage (PSA.N) said on Monday it has entered a deal to buy Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion, as it looks to expand its market presence. Demand for storage space has waned from the heights of the pandemic, as people return to offices, and some analysts expect more consolidation in the sector. Earlier this year, California-based Public Storage made a hostile bid to acquire smaller rival Life Storage. But in April, real estate investment trust Extra Space Storage announced a $12.7 billion deal with Life Storage. Eastdil Secured served as financial adviser to Public Storage, whereas Wells Fargo and Newmark Group acted as lead financial advisers to BREIT.

Persons: Blackstone, Eastdil, Aishwarya Nair, Krishna Chandra Organizations: Blackstone Real, Income, Newmark, Thomson Locations: California, BREIT, Wells, Bengaluru

☆ Apple aims to keep iPhone shipments steady - Bloomberg News
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: 1 min

July 24 (Reuters) - Apple (AAPL.O) is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, Bloomberg News said on Monday citing people familiar with the matter. The company is aiming to hold shipments steady despite a projected decline in the overall smartphone market, the report said, adding Apple is considering raising the price for Pro models. Apple did not immediately respond to a Reuters request for comment. Shares of the iPhone-maker inched higher in trading before the bell. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Samrhitha, Krishna Chandra Organizations: Bloomberg, Apple, Thomson Locations: Bengaluru

☆ AMC shares jump as stock conversion plan halted, preferred shares slide
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

July 24 (Reuters) - Meme stock AMC Entertainment Holdings (AMC.N) soared in premarket trading on Monday after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. The highly shorted AMC common shares were the most traded across all stocks trading before the opening bell at 05:58 a.m. Preferred shares "APE" fell 2.8% to $1.75. AMC investors had sued the company in February, alleging a plan to convert preferred stock to common stock was enacted to circumvent the will of common stock holders who opposed the issuing of new shares. The company filed a revised petition for a stock conversion plan addressing the Delaware court's concerns over other shareholders, CEO Adam Aron said on Sunday.

Persons: Adam Aron, Oppenheimer, Medha Singh, Krishna Chandra Organizations: AMC Entertainment Holdings, AMC, GameStop, Koss, Thomson Locations: Delaware, United States, Canada, Bengaluru

☆ Bank stocks volatile on mixed results, Discover sinks amid regulatory review
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

July 20 (Reuters) - Bank stocks were volatile in premarket trading on Thursday as lenders reported mixed quarterly results, while shares of Discover Financial Services (DFS.N) tanked after it disclosed a regulatory review over some of its credit products. Meanwhile, two major mid-sized banks missed quarterly profit estimates, while one came ahead of Wall Street expectations on Thursday. KeyCorp (KEY.N) shares dropped 2.7% after the bank's profit plunged 50% and it forecast a decline in net interest income. They fell 5.7% in the second quarter compared with a year earlier. Outperforming peers, Fifth Third Bancorp's (FITB.O) shares rose 1.9% premarket as the bank's quarterly profit topped expectations, even as it trimmed its growth forecast for full-year NII.

Persons: Zions, Manya Saini, Jaiveer Shekhawat, Sri Hari, Shweta Agarwal, Krishna Chandra Organizations: Bank, Discover Financial Services, Discover, Federal Deposit Insurance Corporation, Truist, Major, Thomson Locations: Truist, Major U.S, Bengaluru

☆ Netflix scraps cheapest ad-free plan to boost ad-tier
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

The company said on its website the $9.99-a-month basic plan would no longer be available for new or rejoining members. Users who are already on the plan could continue to remain on it until they change plans or cancel their account. The streaming video pioneer had launched a $7-per-month option with commercials last November in 12 markets, including the U.S., as an alternative to ad-free plans. It was designed to attract more customers and add a new revenue stream as competition for online viewers intensified. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Samrhitha, Krishna Chandra Organizations: Netflix, Macquarie, Thomson Locations: U.S, Hollywood, Bengaluru

July 19 (Reuters) - The shares of Northern Trust (NTRS.O) jumped by more than 14% on Wednesday after the asset and wealth manager reported a smaller-than-expected drop in second quarter net interest income underpinned by higher interest rates and slower deposit losses. Analysts were, however, expecting a bigger drop in Northern Trust's quarter-on-quarter NII just like State Street. Northern Trust's shares were trading at $82.14, on track for its biggest one-day percentage gain since March 2020. Total revenue fell 1% to $1.77 billion in the quarter as Northern Trust generated fewer fees from its custodial, investment, and wealth management businesses. Northern Trust said its total assets under custody increased 5% to $14.48 trillion, while total asset management also rose 5% to $1.37 trillion.

Persons: Goldman Sachs, Alexander Blostein, NII, Sri Hari, Krishna Chandra Organizations: Northern Trust, Street Corp, Trust, Sri, Thomson Locations: Northern Trust's, Northern, Bengaluru

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block a program that gives the Medicare government health insurance plan the power to negotiate lower drug prices. The pharmaceutical industry says the drug price negotiation program under President Joe Biden's signature Inflation Reduction Act law will curtail profits and compel drugmakers to curb development of groundbreaking new treatments. The U.S. Centers for Medicare and Medicaid Services (CMS) in September is expected to select the first 10 drugs to target for negotiations with settled prices set to take effect in 2026. The law is on our side," a spokesperson for the U.S. Department of Health and Human Services said in a statement. It broadly follows the other related lawsuits, arguing that the program is unconstitutional and amounts to "confiscation of constitutionally protected property."

Persons: Johnson, Joe Biden's, drugmakers, Biden, Janssen, Bhanvi, Michael Erman, Krishna Chandra Eluri, Susan Heavey Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Commerce, U.S . Centers, Medicare, Medicaid Services, U.S . Department of Health, Human Services, District of, Thomson Locations: U.S, District of New Jersey, Bengaluru, New Jersey

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block enforcement of a program that gives Medicare the power to negotiate drug prices. The pharmaceutical industry says the drug price negotiation program that is part of President Joe Biden's signature Inflation Reduction Act (IRA) will curtail profits and compel them to pull back on developing groundbreaking new treatments. U.S. drugmakers Bristol Myers Squibb (BMY.N), Merck & Co (MRK.N) and the U.S. Chamber of Commerce as well as industry lobbies Pharmaceutical Research and Manufacturers of America have also sued the government over the plan. The Biden administration hopes to save $25 billion annually by 2031 by having Medicare, the government health plan for people 65 and over, negotiate prices for some of its costliest medicines. Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Joe Biden's, Biden, Bhanvi, Krishna Chandra Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Thomson Locations: Bengaluru

July 18 (Reuters) - U.S. weapons maker Lockheed Martin (LMT.N) on Tuesday raised its annual profit and sales outlook on strong demand for military equipment stoked by ongoing geopolitical uncertainties. The advanced jet is Lockheed's largest program, after having generated 27% of total consolidated net sales and 66% of aeronautics' net sales in 2022. Quarterly sales at Lockheed's aeronautics unit, its largest, rose 17.3% from a year earlier to $6.88 billion. It expects full-year net sales to be between $66.25 billion and $66.75 billion, up from its earlier forecast of $65 billion to $66 billion. Quarterly net sales rose 8.1% to $16.69 billion.

Persons: Lockheed Martin, Russia's, Lockheed's, Pratyush Thakur, Mike Stone, Krishna Chandra Organizations: Lockheed, Defense, Thomson Locations: U.S, Ukraine, China, Israel, United States, Bethesda , Maryland, Bengaluru, Washington

☆ Nokia issues profit warning, rival Ericsson delivers 'lukewarm' results
▼ + stars: | 2023-07-14 | by ( Martin Coulter | ) www.reuters.com time to read: +3 min

Nokia's shares dropped 7.8% in early trade to their lowest since April 2021, while Ericsson shares were down 7.7%. Nokia reported preliminary second-quarter sales of 5.7 billion euros ($6.4 billion), while analysts polled by Refinitiv had estimated sales of 6 billion euros on average. Nokia said it now expects 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion euros estimated previously. Meanwhile, Ericsson reported a 62% fall in second-quarter adjusted operating profit, slightly above market expectations. The Swedish telecom equipment maker's operating profits, excluding restructuring charges, fell to 2.8 billion Swedish crowns ($271 million), compared with 7.4 billion crowns the previous year.

Persons: Refinitiv, Börje Ekholm, Ericsson's, Richard Webb, Webb, we’ll, Martin Coulter, Anna Ringstrom, Krishna Chandra Eluri, Tom Hogue Organizations: Nokia, Ericsson, Markets, Reuters, 5G, CSS Insight, Thomson Locations: North America, India, Swedish

☆ Foxconn may partner with TSMC and TMH to set up fabrication units - ET
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: 1 min

[1/2] A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File PhotoJuly 14 (Reuters) - Foxconn (2317.TW) is in talks with Taiwan Semiconductor Manufacturing Co (2330.TW) and Japan's TMH Group for technology and joint venture partnerships to start semiconductor fabrication units in India, the Economic Times reported on Friday. Reporting by Chandni Shah in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Chandni Shah, Krishna Chandra Organizations: REUTERS, Taiwan Semiconductor Manufacturing, Economic Times, Thomson Locations: New Taipei City, Taiwan, India, Bengaluru

☆ Meta's social media apps back up after brief outage - Downdetector.com
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] Facebook, Whatsapp and Instagram logos are displayed in this illustration taken October 4, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoJuly 10 (Reuters) - Meta Platforms' (META.O) social media apps Instagram and Facebook, messaging app WhatsApp and Twitter-rival Threads were all back up after a brief outage affecting thousands of users on Monday, according to Downdetector.com. At the peak of the outage, lasting over an hour, over 14,000 users reported issues with accessing Instagram, while around 7,000 and 2,700 users faced issues with Facebook and WhatsApp, respectively. Meta's newest offering Threads also experienced an outage, with about 470 users reporting problems accessing the app. The outage could have affected a larger number of users.

Persons: Dado Ruvic, Meta, Savyata Mishra, Jyoti Narayan, Vinay Dwivedi, Krishna Chandra Organizations: REUTERS, Facebook, Twitter, Thomson Locations: Bengaluru

☆ Shell warns of significant drop in gas trading results
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: 1 min

July 7 (Reuters) - Energy giant Shell (SHEL.L) expects second-quarter gas trading results to be "significantly lower" than in the previous quarter, it said on Friday. In an update ahead of second-quarter results on July 27, the world's biggest liquefied natural gas (LNG) trader also flagged $3 billion in writedowns for the quarter, primarily driven by a 1% increase in the discount rate used for impairment testing. It added that trading performance in its chemicals and products business was also expected be lower than in the first quarter, with the indicative refining margin forecast to drop to $9 a barrel from $15 a barrel. U.S. rival Exxon also guided for lower refining margins this week. Reporting by Eva Mathews in Bengaluru Additional reporting by Shadia Nasralla Editing by Krishna Chandra Eluri and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Eva Mathews, Shadia, Krishna Chandra Eluri, David Goodman Organizations: Energy, Shell, Exxon, Thomson Locations: writedowns, Bengaluru

☆ Federal court rules against Australia's AMP in class action proceedings, shares tank
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

July 5 (Reuters) - Australia's AMP Ltd (AMP.AX) tanked on Wednesday after the country's federal court ruled against the wealth manager in class action proceedings that challenged the validity of some of the changes to its 'buyer of last resort' policy. AMP was also the top loser on the benchmark index (.AXJO), which was last down 0.4%. The court, on Wednesday, determined amounts payable in the amount of A$813,560 and A$115,533 to the class action's lead applicant Equity Financial Planners and sample group member Wealthstone, respectively. AMP acknowledged the court's decision and noted a process will be required to determine the impact of the decision on other group members of the class action suit, subject to any appeal. "Noting the complexity of the matter, AMP is reviewing the judgment in detail to determine the full effect of the judgment and its next steps," AMP added.

Persons: tanked, Wealthstone, Himanshi, Krishna Chandra Organizations: Australia's AMP, AMP, Financial Planners, Thomson Locations: Bengaluru

☆ Meta to launch Twitter challenger app Threads
▼ + stars: | 2023-07-04 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Meta Platforms (META.O) plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted criticism by announcing a temporary cap on how many posts users can read on the social media site. Threads is expected to be released on Thursday and will allow users to retain followers from photo-sharing platform Instagram, and keep the same username, a listing on Apple's (AAPL.O) App Store showed. While alternative microblogging sites - such as Mastodon and Blue Sky - have seen an uptick in user numbers since Musk's acquisition, neither has been able to challenge Twitter. The launch of Threads represents a credible threat to Twitter under Musk, whose attempts to boost revenues and reshape the platform his own image have faced severe criticism. Meta did not immediately respond to a Reuters request for comment on a similar launch on the Google Play Store.

Persons: Elon Musk, Musk, Instagram, Donald Trump, Martin Coulter, Akanksha Khushi, Krishna Chandra Eluri, David Holmes Organizations: Twitter, Reuters, Meta, Google, Thomson Locations: London, Bengaluru

☆ Meta to launch Twitter-like app Threads
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 3 (Reuters) - Meta Platforms (META.O) plans to launch a microblogging app, Threads, days after Twitter executive chair Elon Musk announced a temporary cap on how many posts users can read on the social media site. Threads, Instagram's text-based conversation app, is expected to be released on Thursday and will allow users to follow the accounts they follow on the photo-sharing platform and keep the same username, a listing on Apple's (AAPL.O) App Store showed. The launch comes after Twitter announced a slate of restrictions on the app, including the need to be verified in order to use TweetDeck. Meta did not immediately respond to a Reuters request for comment on a similar launch on the Google Play Store. Reporting by Akanksha Khushi and Jahnavi Nidumolu in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Linda Yaccarino, Meta, Akanksha Khushi, Krishna Chandra Organizations: Twitter, Google, Thomson Locations: Bengaluru

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