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☆ AI and robots take center stage at ‘world’s largest tech event’
▼ + stars: | 2024-10-21 | by ( Yara Enany | ) edition.cnn.com time to read: +3 min

CNN —A year after Collins Dictionary named “AI” its word of the year, the buzz around artificial intelligence is only getting louder. AI and robotics were the big themes at Gitex Global, which bills itself as the world’s largest tech event and ran Monday to Friday last week at Dubai’s World Trade Centre. “I think what (was) very exciting this year (was) the focus on AI and deep tech,” said Trixie LohMirmand, executive vice president of Dubai World Trade Centre and CEO at KAOUN International, which organizes the event. Several companies launched new products at this year’s show, including Dubai-based deep tech company Xpanceo, which debuted the new prototypes of its smart contact lenses. A prototype of an Xpanceo contact lens at Dubai's Gitex.

Persons: ”, Trixie LohMirmand, Patrick Dennis, hasn’t, Gitex, “ Organizations: CNN, Collins, Trade, Dubai World Trade Centre, KAOUN, Avaya, Gulf Computer, United Arab Locations: Dubai, United Arab Emirates, Germany, Singapore, Morocco, South Korea, Nigeria

☆ Avaya CEO Alan Maserak on the future of doing business in India
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAvaya CEO Alan Maserak on the future of doing business in IndiaAlan Maserak, Avaya CEO, discusses what it's like doing business in India ahead of Prime Minister Narendra Modi's planned summit with tech CEOs.

Persons: Alan Maserak, India Alan Maserak, Narendra Modi's Organizations: Avaya Locations: India

☆ The American consumer has bad news for the economy
▼ + stars: | 2023-04-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

That’s why Wall Street is already fretting over Friday’s retail sales report, which is expected to show that the mighty American consumer is pulling back. Economists forecast that retail sales fell 0.4% in March from the month before. But Goldman Sachs and Bank of America analysts say core sales — that’s without autos, gasoline, and building materials — slowed by about 1%. A taxing problem: Still, the health of the American consumer is still relatively strong, the BofA analysts said. A one-bedroom apartment had a median rent of $4,150, up 9.6% from last year, while a two-bedroom apartment had a median rent of $5,680, up 18.3% from a year ago.

☆ This fund for socially conscious investors offers stability during volatile markets
▼ + stars: | 2023-03-23 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

There's a socially conscious fund that's providing some stability at a time when broader market volatility reigns supreme — and rates continue to rise. The Invesco Floating Rate ESG Fund (AFRYX) last year shed just 2.25% on a total return basis, per Morningstar. In other words, the lion's share of the fund is in short-term bonds that have floating interest rates. Relative stability Morningstar said the fund has returned mixed results during periods of market stress, though it has performed better in recent years. Many senior loans are illiquid, meaning they can't always be sold quickly or at a fair price.

☆ Analysis: Bed Bath's novel deal is no universal dodge-bankruptcy card
▼ + stars: | 2023-02-17 | by ( Shankar Ramakrishnan | ) www.reuters.com time to read: +5 min

It's unclear whether Bed Bath can capitalize on the breathing room to turn around its business, which has been battered by competition from other online and brick-and-mortar retailers. A spokesperson for Hudson's Bay declined to comment, while Bed Bath & Beyond did not respond to requests for comment. To secure the Hudson's Bay investment, Bed Bath offered a deal that guarantees the hedge fund a lucrative return in most circumstances. It is not clear how much of the stock Hudson's Bay has converted and sold since it inked the deal with Bed Bath on Feb. 6. The deal is very dilutive for other Bed Bath investors, who will end up owning 80% less if the company survives.

☆ Avaya files for Chapter 11 bankruptcy
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

Feb 14 (Reuters) - Avaya Holdings Corp (AVYA.N) has filed for Chapter 11 bankruptcy and secured a financing of $780 million as it restructures its business, the IT firm said on Tuesday. Avaya said upon completion of the restructuring process it will reduce its total debt by more than 75%, from nearly $3.4 billion to about $800 million. The new capital is "expected to provide substantial liquidity to support Avaya during the process and beyond," it said. Earlier in September, Avaya has also announced restructuring, including job cuts, to reduce costs. Evercore Group is serving as financial advisor to Avaya for the process.

☆ Avaya nears chapter 11 bankruptcy filing - WSJ
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - IT firm Avaya Holdings Corp (AVYA.N) is reaching a chapter 11 bankruptcy filing to restructure its balance sheet, in a bid to turn around its business and move past accounting problems, the Wall Street Journal reported on Thursday. Earlier this week, it said it was in talks with its financial stakeholders regarding a comprehensive resolution to strengthen its balance sheet. Another plan, supported by holders of Avaya's unsecured bonds, proposes to restructure the company out of court, including by issuing new bonds and loans to retire some old debt, the report said. Avaya's shares have fallen nearly 97% this year, crimping its market cap to around $45 million from more than $2 billion a year ago. Reporting by Anirban Chakroborti and Eva Mathews in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

Avaya Holdings Corp. is nearing a chapter 11 bankruptcy filing to restructure its balance sheet as it looks to turn around its business and move past problems surrounding the company’s accounting, people familiar with the matter said. Avaya disclosed earlier this week it has reviewed various restructuring proposals from competing creditor groups. One plan, supported by a senior lender group including Apollo Global Management , would significantly reduce Avaya’s debt load through chapter 11, wipe out shareholders and, pending the completion of an internal investigation into controls over financial reporting, provide directors and executives with releases from potential litigation.

☆ Meme-Stock Traders Embrace Avaya Despite Wall Street Fears
▼ + stars: | 2022-09-19 | by ( Matt Wirz | ) www.wsj.com time to read: 1 min

Individual investors are backing a new underdog, Avaya Holdings pumping up the software company’s downtrodden stock by about 200% over the past month and confounding Wall Street professionals. Avaya’s fans include day traders who congregate on Reddit and Twitter forums, and a 35-year-old software entrepreneur who has snapped up a 15% stake. They are facing off against a group of large fund managers such as Apollo Global Management and Ares Management that could benefit if the company seeks bankruptcy-court protection.

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