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Persons: Dow Jones Locations: kenya

Persons: Dow Jones Locations: kenya

OTTAWA, July 24 - Canada's Liberal Prime Minister Justin Trudeau is planning to reshuffle his cabinet this week, likely replacing ministers deemed to have struggled in their posts or who are not planning on running again in the next election, two government sources said. It is common for cabinet members to clear their schedules and be called to Ottawa ahead of a reshuffle. Speaking to reporters in Toronto, the 72-year-old minister did not say whether she would stay in government in the meantime, adding only that she would do "whatever the prime minister wants me to do". The most influential ministers including Deputy Prime Minister and Finance Minister Chrystia Freeland, Foreign Minister Melanie Joly, Innovation Minister Francois-Philippe Champagne and Natural Resources Minister Jonathan Wilkinson are expected to keep their jobs. Trudeau won a parliamentary majority in 2015 but was reduced to leading a minority government after elections in 2019 and 2021.

Persons: Justin Trudeau, Trudeau, Carolyn Bennett, Marco Mendicino, Chrystia Freeland, Melanie Joly, Francois, Philippe Champagne, Jonathan Wilkinson, Steve Scherer, David Ljunggren, Deepa Babington, David Holmes Organizations: OTTAWA, Canada's Liberal, Canadian Broadcasting Corp, Mental, Liberal, Monday, Public Safety, Finance, Innovation, Natural Resources, New Democrats, Conservatives, Liberals, Thomson Locations: Ottawa, Toronto

Companies AMC Entertainment Holdings Inc FollowJuly 21 (Reuters) - A judge on Friday blocked a proposed settlement on AMC Entertainment Holdings' (AMC.N) stock conversion plan that would allow the company to issue more shares, sending its common shares soaring and preferred shares down in after-hours trading. AMC shares were up 69% at $7.44 in trading after the bell. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. While the deal would compensate common stock holders for the dilution, they had no right to settle potential claims by holders of preferred stock, Zurn wrote on Friday.

Persons: Chancellor Morgan Zurn, Zurn, Jody Godoy, Franklin Paul, Deepa Babington, Chris Reese Organizations: AMC Entertainment Holdings, Delaware, AMC, AMC Entertainment Holdings Inc, Thomson Locations: Delaware

Companies Tesla Inc FollowJuly 21 (Reuters) - A federal appeals court on Friday said it will reconsider its recent decision that Tesla (TSLA.O) Chief Executive Elon Musk violated federal labor law by tweeting that employees would lose stock options if they joined a union. Circuit Court of Appeals in New Orleans granted Tesla's request to revisit the case "en banc," meaning that its 16 active judges will take part. Musk issued the tweet as the United Auto Workers sought to organize employees at Tesla's plant in Fremont, California. "But why pay union dues & give up stock options for nothing?" The appeals court panel found "substantial evidence" that the tweet was "an implied threat to end stock options as retaliation for unionization."

Persons: Tesla, Elon Musk, Musk, Jonathan Stempel, Jonathan Oatis, Deepa Babington Organizations: Tesla, U.S, Circuit, National Labor Relations Board, Musk's, United Auto Workers, NLRB, Republican, Twitter, U.S . Securities, Exchange Commission, Forbes, Thomson Locations: New Orleans, Fremont , California, U.S, New York

☆ White House Says Amazon, Google, Meta, Microsoft Agree to AI Safeguards
▼ + stars: | 2023-07-21 | by ( Sabrina Siddiqui | Deepa Seetharaman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: microsoft

☆ Sergey Brin Is Back in the Trenches at Google
▼ + stars: | 2023-07-21 | by ( Miles Kruppa | Deepa Seetharaman | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, sergey, brin

☆ Amazon builds $120 million satellite processing hub in Florida
▼ + stars: | 2023-07-21 | by ( Joey Roulette | ) www.reuters.com time to read: +2 min

WASHINGTON, July 21 (Reuters) - Amazon (AMZN.O) is building a $120 million processing facility at NASA's Kennedy Space Center in Florida for its thousands of planned Kuiper internet satellites, the company and state officials said Friday. The Kuiper internet network, which will largely compete with Starlink from Elon Musk’s SpaceX, is expected to complement Amazon’s web services powerhouse. The Florida facility will employ 50 staff and be a last stop for Amazon's Kuiper satellites before they go to space, after being manufactured at the Kuiper project's primary plant in Redmond, Washington. The company has bagged 77 heavy-lift rocket launch contracts, potentially worth billions of dollars combined, mostly from the Boeing-Lockheed joint venture United Launch Alliance and Jeff Bezos's space company Blue Origin. Anna Farrar, a spokeswoman for Space Florida, a state-funded entity to attract space businesses to Florida, said Amazon is eligible to receive funds under a state grant for transportation-related projects but "has not received any funding to date."

Persons: Steve Metayer, Jeff Bezos's, Anna Farrar, Joey Roulette, Deepa Babington Organizations: Kennedy Space Center, Amazon, Starlink, Elon Musk’s SpaceX, Kuiper Production, Boeing, Lockheed, United Launch Alliance, Origin, Space, Thomson Locations: Florida, Redmond , Washington, Space Florida

☆ Actors decry 'existential crisis' over AI-generated ‘synthetic’ actors
▼ + stars: | 2023-07-21 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

Synthetic performers. One issue is creating synthetic performers from an amalgamation of actors’ images. The producers have promised to obtain a performer’s consent, and bargain separately for subsequent uses of an actor’s doppelganger, sources say. The producers offered to seek a performer’s consent for any changes beyond typical alterations done post-production, sources say. SAG interprets this as AI overreach, and wants permission sought before any changes to an actor’s image, likeness or voice.

Persons: ”, Carly Turro, Duncan Crabtree, ” Crabtree, Crabtree, “, Dawn Chmielewski, Danielle Broadway, Kenneth Li, Deepa Babington Organizations: Hollywood, SAG, Alliance, Television Producers, Thomson Locations: Ireland, Los Angeles

☆ Pacific Gas and Electric says it can meet California power demand this summer
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

July 21 (Reuters) - Pacific Gas and Electric Company (PG&E) on Friday said it is prepared to meet increased electricity demand in California this summer with new energy supply amid an ongoing heat waveThe company said it is bringing online new resources like battery energy storage, including an additional 700 megawatts (MW) than it had last summer. At the time, PG&E said it had just 6.5 MW of battery energy storage connected to the power grid. By September, it expects to have 1,700 MW online, or enough to meet the demand of 1.2 million homes at once, it said. PG&E said it is modifying programs that offer financial incentives for residential and business customers who reduce energy use during peak demand. PG&E also said it expects to have adequate hydropower to help meet peak summer demand periods.

Persons: Ashitha, Deepa Babington Organizations: Pacific Gas and Electric Company, Thomson Locations: California, Bengaluru

☆ Huntington Bancshares beats Q2 profit estimates on interest income strength
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

July 21 (Reuters) - Huntington Bancshares (HBAN.O) beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans. "There is increasing optimism around a very modest slowdown, (or) recession," the bank's CEO Stephen Steinour said, citing stimulus spending from the government. "The interest rate outlook has continued to change," said Steinour, adding there are expectations that rates will remain higher for a longer period. Huntington earned $0.35 per share in the second quarter versus analysts' average estimate of $0.34 per share, according to Refinitiv IBES data. Total deposits at Huntington were $148 billion, up nearly 2% from the first quarter.

Persons: Huntington, Stephen Steinour, NII, Niket, Saeed Azhar, Shweta Agarwal, Deepa Babington Organizations: U.S . Federal Reserve, Comerica, Fifth Third Bancorp, Thomson Locations: U.S, Columbus , Ohio, Huntington, Bengaluru, New York

☆ NFL owners approve sale of Commanders, former owner fined $60 mln
▼ + stars: | 2023-07-20 | by ( Frank Pingue | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - National Football League owners have unanimously approved the sale of the Washington Commanders franchise to a group led by the co-owner of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils, the league said on Thursday. Financial terms of the deal to purchase the Commanders from Dan Snyder, who was fined $60 million by the NFL for workplace misconduct after the approval was announced, were not disclosed. Former NBA great Johnson wrote on Twitter that he is both "honored and ecstatic" to be a co-owner of an NFL team. The investigation also concluded that the Commanders withheld about $11 million in revenue, and possibly more, that should have been shared with other NFL teams. In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.

Persons: Dan Snyder, Josh Harris, Mitchell Rales, Magic Johnson, Harris, Johnson, Snyder, Frank Pingue, Deepa Babington Organizations: National Football League, Washington Commanders, Philadelphia 76ers, New Jersey Devils, NFL, Harris Blitzer Sports & Entertainment, Fame, Los Angeles Lakers, 76ers, Devils, Premier League soccer, Crystal, Apollo Global Management, Washington, NBA, Twitter, Congress, Forbes, U.S . House, Thomson Locations: Maryland, U.S, Toronto

LOS ANGELES, July 19 (Reuters) - Streaming video pioneer Netflix (NFLX.O) disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. Netflix has been looking for new ways to make money as streaming competition intensifies and it nears market saturation in the United States. Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion. Netflix said its advertising tier remained a small part of its membership base and that current ad revenue is not material.

Persons: we’ve, Craig Huber, Huber, We've, Spencer Neumann, Jeffrey Wlodarczak, Ted Sarandos, Sarandos, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Deepa Babington, Chris Reese Organizations: Netflix, Refinitiv, Huber Research Partners, Research, Thomson Locations: ANGELES, United States, Los Angeles, Bengaluru

☆ Netflix quarterly revenue falls short of forecasts, shares drop
▼ + stars: | 2023-07-19 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

The company said it expected revenue growth to accelerate in the second half of the year. Netflix said it planned to kick-start revenue growth by "creating a steady drumbeat of must watch shows and movies; improving monetization; growing the enjoyment of our games; and investing to improve our service for members." The company reported diluted earnings-per-share of $3.29 for the second quarter, ahead of the $2.86 consensus forecast of analysts surveyed by Refinitiv. Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion.

Persons: we’ve, Lisa Richwine, Deepa Babington Organizations: Netflix Inc, Netflix, Refinitiv, Thomson Locations: ANGELES, United States

☆ US opens special probe into fatal Tesla crash
▼ + stars: | 2023-07-18 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

[1/2] Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. Since 2016, the U.S. auto safety regulator has opened more than three dozen Tesla special crash investigations in cases where systems such as Autopilot were suspected of being used, with 22 crash deaths reported through Tuesday. The Tesla driver suffered serious injuries and two other Tesla passengers suffered moderate injuries. A local California fire department said a Tesla struck one of its fire trucks and that the Tesla driver was pronounced dead at the scene. The other investigation in March involves a 2022 Tesla Model Y that struck and seriously injured a 17-year-old student who got off a school bus in North Carolina.

Persons: Mike Blake WASHINGTON, Tesla, David Shepardson, Doina Chiacu, Chizu Nomiyama, Deepa Babington Organizations: Tesla, REUTERS, Traffic Safety Administration, Subaru Impreza, Patrol, Subaru, California Highway Patrol, NHTSA, Thomson Locations: Long Beach , California, U.S, California, South Lake, Contra Costa County , California, North Carolina

☆ Global shares rise, dollar rebounds as Fed seen on target for rate hike
▼ + stars: | 2023-07-18 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

Retail sales increased 0.2% last month, the U.S. Commerce Department said, but core retail sales increased 0.6%, excluding automobiles, gasoline, building materials and food services. Headline data for May also was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Asian stocks fell earlier in the session as markets caught up with growth data from Monday showing the post-pandemic bounce in China's economy was over. Besides the Fed, the European Central Bank and the Bank of Japan also hold policy meetings next week. Expectations that the Fed and the ECB will diverge on rate hikes have caused the dollar to weaken recently.

Persons: Brendan McDermid, Morgan Stanley, Jimmy Chang, Chang, J.P, Morgan, Fiona Cincotta, DAX, Brent, Herbert Lash, Elizabeth Howcroft, Selina Li, Chizu Nomiyama, Jonathan Oatis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Bank, Federal, Bank of America, U.S . Commerce Department, Rockefeller, Dow Jones, Nasdaq, Deutsche Bank, Citigroup, Fed, European Central Bank, Bank of, ECB, U.S, West Texas, Thomson Locations: New York City, U.S, New York, Europe, China, Germany, Bank of Japan, London, Hong Kong

☆ Meta and Microsoft Team Up to Distribute New AI Software for Commercial Use
▼ + stars: | 2023-07-18 | by ( Tom Dotan | Deepa Seetharaman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: microsoft

☆ Meta, Microsoft Team Up to Offer New AI Software for Businesses
▼ + stars: | 2023-07-18 | by ( Tom Dotan | Deepa Seetharaman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/meta-and-microsoft-team-up-to-distribute-new-ai-software-for-commercial-use-c4f7b634

Persons: Dow Jones Organizations: microsoft

☆ European official: EU likely to keep missile sanctions on Iran
▼ + stars: | 2023-07-18 | by ( Arshad Mohammed | ) www.reuters.com time to read: +3 min

WASHINGTON, July 18 (Reuters) - A European official on Tuesday said he expected no difficulty persuading EU nations to maintain ballistic missile sanctions on Iran that are due to expire in October. The official, who spoke on condition of anonymity, also said he sees a window of opportunity by the end of 2023 to try to negotiate a de-escalatory nuclear deal with Iran. In June, sources told Reuters that European diplomats had informed Iran they planned to retain EU ballistic missile sanctions set to expire in October under the nuclear deal, a step they said could provoke Iranian retaliation. Keeping the EU sanctions would reflect Western efforts to prevent Iran from developing nuclear weapons and the means to deliver them despite the collapse of the 2015 deal, which then-U.S. President Donald Trump abandoned in 2018. Asked if Britain, France and Germany, which were parties to the 2015 deal, had convinced the rest of EU to keep the ballistic missile sanctions, the European official replied: "It's nearly agreed.

Persons: Donald Trump, It's, Joe Biden's, Arshad Mohammed, Paul Grant, Tim Ahmann, Deepa Babington Organizations: Reuters, EU, Thomson Locations: Iran, Washington, Tehran, U.S, Ukraine, Russia, United States, Britain, France, Germany, EU, China

Twitter laid off more than half of its workforce as a cost-cutting measure after Musk acquired the company last October. A similar lawsuit was filed last week in California federal court claiming Twitter owes ex-employees more than $500 million in severance. Woodfield also claims that Twitter targeted him to be laid off because he is an "older worker," though the complaint does not state his age. According to the lawsuit, Woodfield signed an agreement to arbitrate work-related legal disputes that requires Twitter to pay the initial fees to allow individual cases to proceed. But Woodfield claims Twitter has refused to pay the fee in his case, blocking it from going forward.

Persons: Chris Woodfield, Musk, Twitter, Woodfield, Daniel Wiessner, Alexia Garamfalvi, Deepa Babington Organizations: Twitter, Elon, Thomson Locations: Delaware, Seattle, California, Albany , New York

☆ White House blasts RFK Jr for 'antisemitic conspiracy theories'
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

White House press secretary Karine Jean-Pierre joined a chorus of Democratic outrage at the comments from the 69-year-old son of Senator Robert F. Kennedy, a member of the Kennedy political dynasty who was assassinated while running for the Democratic presidential nomination in 1968. Robert F. Kennedy Jr. is a candidate for the Democratic presidential nomination in 2024, putting him directly in competition with Biden, who is seeking a second four-year term. Democratic presidential candidate Robert F. Kennedy Jr. waves to the audience after delivering a foreign policy speech at St. Anselm College in Manchester, New Hampshire, U.S., June 20, 2023. Every aspect of these comments reflect some of the most abhorrent antisemitic conspiracy theories throughout history and contributes to today's dangerous rise of antisemitism," Jean-Pierre said. The New York Post on Saturday published a video that appeared to show Kennedy speaking at a dinner in Manhattan.

Persons: Joe Biden's, Robert F, Kennedy Jr, Karine Jean, Pierre, Kennedy, Biden, Brian Snyder, COVID, Jean, Pierre said, Trevor Hunnicutt, Steve Holland, Heather Timmons, Deepa Babington Organizations: Democratic, Anselm College, REUTERS, The New York, Twitter, Thomson Locations: Manchester , New Hampshire, U.S, Manhattan

☆ Angelo Mozilo, Countrywide Financial's former CEO, dies at 84
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

July 17 (Reuters) - Angelo Mozilo, who propelled Countrywide Financial Corp into the largest U.S. mortgage lender before its crash in the 2008 financial crisis, has died, his family foundation said. Mozilo, 84, died of natural causes, the foundation said in a statement on Sunday. In 2006, when Mozilo was the chief of the mortgage lender Countrywide Financial, the firm originated $461 billion worth of loans -- close to $41 billion of which were subprime. Subprime loans were responsible for the global financial crisis. Mozilo had defended himself several times against accusations that he was a key architect of the 2007-2009 financial crisis.

Persons: Angelo Mozilo, Mozilo, Conde Nast, Shubhendu Deshmukh, Nupur Anand, Franklin Paul, Deepa Babington Organizations: Countrywide Financial Corp, Countrywide Financial, Bank of America, Bloomberg, Thomson Locations: Bronx, United States, Bengaluru, New York

☆ US stocks rise on earnings outlook, global shares dip on China data
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple, Nvidia and Tesla, ahead of quarterly results from industry heavyweights later this week. Second-quarter earnings are expected to decline 8.1%, according to Refinitiv data, down further than the 5.7% decline expected at the start of the month. Data on U.S. retail sales are expected to show a rise of 0.3% ex-autos, continuing the slower trend but solid enough to fit into the market's soft-landing theme. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Wall, Nasdaq, Apple, Nvidia, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Oil, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Efforts to Rein In AI Tap Lesson From Social Media: Don’t Wait Until It’s Too Late
▼ + stars: | 2023-07-17 | by ( Deepa Seetharaman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/efforts-to-rein-in-ai-tap-lesson-from-social-media-dont-wait-until-its-too-late-d6d3fb49

Persons: Dow Jones, d6d3fb49

☆ Exclusive: Head of engineering for Trump’s Truth Social app resigns
▼ + stars: | 2023-07-17 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

NEW YORK, July 17 (Reuters) - The head of engineering for the company that operates former U.S. President Donald Trump’s Truth Social app told Reuters on Monday he had resigned, in a blow for the venture. Gleason is the founder of Soapbox Technology, which provides open-source technology for “decentralized” social media platforms that operate on independently-run servers and provide an alternative to Twitter and Facebook. TMTG hired Gleason in January 2022 to adapt Soapbox’s technology for its own needs, eventually using it as the front-end technology - which users see and interact with - for the Truth Social app. Truth Social has struggled to show strong growth in the number of users since its February 2022 launch. Truth Social has an estimated 607,000 monthly users, according to data from Similarweb.

Persons: Donald Trump’s, Alex Gleason’s, Gleason, TMTG, Trump, DWAC, Helen Coster, Deepa Babington Organizations: YORK, Trump Media & Technology, Trump, U.S, Capitol, Twitter, Facebook, Social, Similarweb, Justice Department, Securities and Exchange Commission, Thomson

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