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☆ Live Updates: Georgia Voters Head to Polls for Final Say on Warnock vs. Walker
▼ + stars: | 2022-12-06 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +11 min

Mr. Warnock consolidated Democratic voters, while Mr. Walker struggled to rally his party behind him. Mr. Walker was wrapping up a campaign that appears to have failed to consolidate the disparate wings of his party. Image Mr. Warnock spoke on Monday in Atlanta at the SWAG Shop barbershop with Killer Mike, the rapper. Credit... Nicole Craine for The New York TimesMr. Kemp kept some distance from Mr. Walker during the general election. Mr. Mathews said he planned to cast his ballot Tuesday for Mr. Walker.

☆ EV maker Vinfast files for U.S. IPO
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - Vietnam-based electric-vehicle maker VinFast said on Tuesday it has filed for an initial public offering in the United States and plans to list its ordinary shares on the Nasdaq under ticker symbol "VFS". While no time frame was specified on Tuesday for the offering, the IPO was initially slated for the fourth quarter of this year, the company had previously said. The company's parent, Vingroup conglomerate, said in May that the IPO maybe delayed to 2023 due to market uncertainty. In April, VinFast's Singapore-based holding company filed for a confidential IPO with U.S. securities regulators, as it readied a $4-billion investment to build a factory in the United States. Reporting by Eva Mathews in Bengaluru and Phuong Nguyen in Hanoi; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ TuSimple, Navistar scrap deal to develop self-driving trucks
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - TuSimple Holdings Inc (TSP.O) and Navistar have ended a deal to co-develop self-driving trucks, the companies announced on Monday. In 2020, Illinois-based Navistar bought a minority stake in TuSimple and announced a deal to co-develop heavy-duty self-driving trucks by 2024, as the autonomous driving technology space boomed with investor attention. The trucks would have operated at Level 4 autonomy - where vehicles can operate without a driver under set conditions. TuSimple also received nearly 7,000 orders for the self-driving trucks from companies including DHL Supply Chain, Schneider (SNDR.N) and U.S. Xpress (USX.N). San Diego, California-based TuSimple, which in October said it plans to focus on initial commercialization of its trucks in 2023, did not specify reasons for ending the deal.

☆ Slack CEO Butterfield to depart next month
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Slack Chief Executive Officer Stewart Butterfield plans to leave the workplace messaging platform in January, parent company Salesforce Inc (CRM.N) said on Monday. Lidiane Jones, who is the senior vice-president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, a company spokesperson said. Salesforce had acquired Slack last year in a nearly $28 billion deal following a massive bet that Slack's workplace app will become popular for collaborations within and between companies. Last week, Salesforce stock tumbled after co-CEO Bret Taylor's sudden exit caught Wall Street off guard and raised concerns about the merit in having two leaders. read moreReporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft offers Sony 10-year contract for 'Call of Duty' releases on PlayStation - WSJ
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Microsoft (MSFT.O) has offered Sony (6758.T) a 10-year contract to make each new "Call of Duty" release available on PlayStation the same day it comes to Xbox, according to an opinion piece in the Wall Street Journal on Monday from a Microsoft executive. Xbox maker Microsoft's latest offer to Sony comes as it faces increased regulatory scrutiny over its $69 billion buyout deal for Activision Blizzard. Reuters reported last month that Microsoft's remedy would consist mainly of a 10-year licensing deal to Playstation owner Sony. "The main supposed potential anticompetitive risk Sony raises is that Microsoft would stop making 'Call of Duty' available on the PlayStation. But that would be economically irrational," Microsoft President Brad Smith said in the WSJ opinion piece.

☆ Apple explores moving some iPad production to India - CNBC
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: 1 min

Dec 5 (Reuters) - India is exploring options to bring some of Apple Inc's (AAPL.O) iPad production to the country from China, CNBC reported on Monday, citing two sources close to the Indian government. Apple is holding ongoing discussions with officials, according to the report. The iPhone maker did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Netflix to let more subscribers preview content - WSJ
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: 1 min

Dec 1 (Reuters) - Netflix Inc (NFLX.O) is planning to let tens of thousands of users around the world to preview content from early next year, expanding beyond its current previewer base of 2,000-plus subscribers, the Wall Street Journal reported on Thursday. Netflix's Preview Club, which started more than a year ago, allows its members to watch some shows or films before they appear broadly on the platform and review them, the Journal reported, citing people familiar with the matter. The video streaming giant did not immediately respond to a Reuters request for comment. The move underpins Netflix's efforts to ensure quality content, at a time when investors and analysts focus more on the profitability of streaming firms. Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Salesforce shares tumble after surprise exit of co-CEO Taylor
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] Bret Taylor, Co-CEO of Salesforce, speaks at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. Jefferies analysts said the surprise exit indicated that the "co-CEO model is not working with two departures in three years." Benioff tapped Taylor as co-CEO in 2021, to replace Oracle (ORCL.N) executive Keith Block who stepped down from the role just before the pandemic began. He was previously chief operating officer and chief product officer of the company. "We view this leadership change as a significant blow given his leadership role on product," Needham analysts said in a note.

☆ CNN informs employees that layoffs are underway - CNN reporter tweet
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are underway, according to a CNN reporter's tweet. loadingA representative for CNN did not immediately respond to a Reuters request for comment. Licht said CNN would notify a limited number of individuals, largely some of its paid contributors on Wednesday and the impacted employees on Thursday, according to the tweet. Reporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ CNN informs employees that layoffs are under way - memo
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are under way, according to an email seen by Reuters. Licht said CNN would notify a limited number of individuals, largely some of its paid contributors on Wednesday and the impacted employees on Thursday, according to the memo. "I know these changes affect both our departing colleagues and those who remain," Licht wrote. In October, Licht had warned CNN would be undergoing changes, citing "widespread concern over the global economic outlook." The changes would affect "people, budgets and projects," Licht had said.

☆ AMC Networks CEO exits after less than three months in role
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - AMC Networks' (AMCX.O) Christina Spade has stepped down as chief executive officer, less than three months after taking over the role, sending the company's shares down 5% on Tuesday. "We thank Christina for her contributions to the company in her CEO role and her earlier CFO (chief financial officer) role, and we wish her well in her future endeavors," Chairman James Dolan said in a brief statement. AMC Networks did not respond to a request for comment on the layoffs. Cord cutting and a gloomy advertising market have weighed on the company's business, with shares down 40% year to date. Revenue in the division surged 41% in the last reported quarter, even as the company's overall revenue slumped 16%.

☆ AMC Networks CEO exits after brief stint; plans 20% U.S. job cuts
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

Shares of the cable TV network, home to hit shows such as "Mad Men" and "The Walking Dead", fell 4.4% on Tuesday. AMC Networks had 1,739 full-time and 287 part-time employees as of Dec. 31, according to a regulatory filing. Cord cutting and a gloomy advertising market have weighed on the company's business, with shares down 40% year to date. Revenue in the division surged 41% in the last reported quarter, even as the company's overall revenue slumped 16%. In September, she took the helm from Matt Blank who had held it on an interim basis after long-time Chief Executive Officer Josh Sapan stepped down in August last year.

☆ Over 60% of people who shop online are 'bracketing' their online purchases — and it's creating a logistical nightmare for retailers
▼ + stars: | 2022-11-28 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

"Bracketing" is the practice of buying the same item online in multiple sizes or colors. It's increased with the rise of e-commerce: 63% of shoppers reported bracketing in a 2022 survey. With the holiday shopping season in full swing, retailers are bracing for what at this point is practically an e-commerce tradition: bracketing. Bracketing is especially prevalent when retailers offer free shipping and free returns because customers deem the practice low risk. Bracketing probably isn't a totally fixable problem, but there are some ways retailers can prevent customers from making so many returns.

Amazon France said there had been no sign of disruption to operations so far. Two French union officials said they were not expecting a big turnout because the rising cost-of-living was driving employees to seek overtime. "As an employer, Amazon offers great pay, benefits and development opportunities - all in an attractive and safe working environment," a spokesperson for Amazon in Germany said in a statement. [1/6] French CGT union members demonstrate in front of the Amazon logistics center in Bretigny-sur-Orge, near Paris, as part of a global day of actions against Amazon on Black Friday, France, November 25, 2022. Workers at a warehouse in the western city of Koblenz were seen standing outside near a red-and-white banner that read "We're on strike" in German, French and English.

A source familiar with the situation in Zhengzhou said production at the plant was unaffected by the worker unrest and output remained "normal". It makes most of the phones at the Zhengzhou plant, though it has other smaller production sites in India and southern China. Shares of Foxconn have slipped 2% since the unrest emerged in late October. Before the unrest, the Zhengzhou plant employed some 200,000 people. To retain staff and lure more workers Foxconn has had to offer bonuses and higher salaries.

☆ China's Baidu beats Q3 revenue estimates as ad sales recover
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - Baidu Inc's (9988.HK) third-quarter revenue beat Wall Street estimates on Tuesday, as China's search engine giant benefited from a recovery in online advertising sales and growth in its cloud and artificial intelligence (AI) business. The company has been looking to grow its cloud and AI business, which includes autonomous driving, to diversify its revenue sources. Baidu's revenue rose 2% to 32.54 billion yuan ($4.56 billion) in the three months ended Sept. 30, beating the 31.79 billion yuan average estimate of 20 analysts, according to Refinitiv data. The company's operating income rose to 5.32 billion yuan from 2.31 billion yuan a year earlier. ($1 = 7.1388 Chinese yuan renminbi)Reporting by Eva Mathews in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic led to park closures and visitor restrictions. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. Disney did not respond to a request for comment on Trian and Trian did not respond to a request for comment. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

☆ Activist investor asks News Corp to spin off unit instead of merger with Fox
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Activist investor Irenic Capital Management, which holds 2% of News Corp's (NWSA.O) Class B shares, has suggested a spin-off of the media company's digital real estate business or Dow Jones as an alternative to its merger with Fox Corp (FOXA.O). Shares of News Corp, which has a market value of $10.34 billion, were down 1.7% in morning trade. "Putting the two (News Corp and Fox) together makes no sense to us." In October, media mogul Rupert Murdoch proposed to reunite his media empire by combining News Corp and Fox Corp nearly a decade after the companies split. "The problem is they did not go far enough after they separated out News Corp in 2013," Huber added.

He will replace Bob Chapek, who took over as Disney CEO in February 2020 just as the COVID-19 pandemic hit, leading to park closures and restrictions on visitors globally. Disney disappointed investors this month with an earnings report that showed mounting losses at its streaming media unit that includes Disney+. [1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. IGER'S RETURNSIger exited Disney on a high note as the company led the battle against Netflix in the streaming wars. During his tenure, Disney made several key acquisitions, including Pixar Animation Studios, Marvel Entertainment and 21st Century Fox, and boosted its market capitalization five-fold.

☆ Disney's Iger may have to cut costs as streaming loses money
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Bob Iger must show Wall Street a new side to his character as he returns to lead Walt Disney Co (DIS.N) by cutting costs and restoring profits in just two years after splurging cash on acquisitions and a streaming business last time round. The entertainment giant shocked investors late on Sunday evening announcing the ouster of Chief Executive Bob Chapek and appointing Iger, 71, to a two-year contract to return the company to growth. read moreThe move evoked other return engagements such as Steve Jobs' return to Apple and Howard Schultz's return to Starbucks in times of crisis. The most immediate target of that could be Disney+, the streaming service that Iger helped launch in 2019. Some brokerages have also raised concern on whether the two-year period Iger has agreed to return for would be enough to transform the business and find a successor.

☆ Dell quarterly profit jumps on higher server demand, lower costs
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Dell Technologies Inc (DELL.N) posted a 68% rise in quarterly operating profit on Monday, as strong demand for servers and network equipment cushioned weak PC sales and easing supply-chain pressures helped rein in costs. Consumer revenue tumbled 29% and large enterprises, or commercial, revenue, fell 13%. Operating expenses fell 8% in the third quarter ended Oct. 28, the company said. Net income tumbled 93% to $241 million, due to the $1 billion settlement of a lawsuit over a disputed 2018 stock swap. read moreOperating income rose to $1.76 billion, from $1.05 billion a year earlier.

Nonprofit hospitals must have financial-assistance policies for needy patients, under federal requirements tied to an estimated $60 billion in annual tax breaks. They often make that aid hard to get. Hospitals put up obstacles, delay checking eligibility and sometimes press for payments that aren’t refunded even if a patient eventually gets qualified for assistance.

☆ China's JD.com says worst is over for consumer demand
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

Research house TH Data Capital noted in a report that sales growth at JD.com in September was better than that in July and August, driven mainly by consumer electronics, home appliance and FMCG. Revenue grew to 243.5 billion yuan ($34.21 billion) in the three months ended Sept. 30, compared with a Refinitiv consensus estimate from 22 analysts of 242.81 billion yuan. Rival Alibaba reported 3% revenue growth in the three months ended Sept. 30. JD.com's quarterly net income attributable to ordinary shareholders was 6 billion yuan, compared with a net loss of 2.8 billion yuan a year earlier. Excluding one-off items, JD.com earned 6.27 yuan per American Depository Share, beating expectations of a 4.44 yuan profit per ADS.

☆ Alibaba quarterly revenue misses expectations as spending slows
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK) posted a smaller-than-expected rise in quarterly revenue on Thursday as COVID-19 curbs and a worsening economic outlook stifled consumer spending. Alibaba has also had to contend with stiff competition from the likes of Pinduoduo (PDD.O) and ByteDance's Douyin - the Chinese version of Tiktok - which have expanded their e-commerce offerings and taken more market share. Revenue grew 3% to 207.18 billion yuan ($28.96 billion) in the three months ended Sept. 30, compared with a Refinitiv consensus estimate of 208.62 billion yuan drawn from 25 analysts. Excluding one-off items, Alibaba earned 12.92 yuan per American Depository Share. ($1 = 7.1540 Chinese yuan renminbi)Reporting by Eva Mathews in Bengaluru and Josh Horwitz in Shanghai; Editing by Edwina Gibbs and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

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