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☆ Elon Musk visits Twitter headquarters ahead of deal close deadline
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Billionaire Elon Musk said on Wednesday he was entering Twitter Inc's (TWTR.N) San Francisco office, days ahead of a court-ordered deadline to close his $44 billion deal for the social media platform. said the caption to a video that Musk tweeted in which he was walking into the Twitter office carrying a sink in his hands. loadingTwitter confirmed Musk would visit the San Francisco office this week, but declined to comment further. The Tesla Inc (TSLA.O) CEO notified co-investors who committed to help fund the Twitter deal that he plans to close it by Friday, Reuters reported on Tuesday. Twitter shares were up about 1% at $53.31, just about $1 below Musk's offer price.

☆ Elon Musk tweets he is at Twitter's headquarters
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

Oct 26 (Reuters) - Billionaire Elon Musk said on Wednesday he was entering Twitter Inc's (TWTR.N) San Francisco office, days ahead of a court-ordered deadline to close his $44 billion deal for the social media platform. Musk tweeted, "Entering Twitter HQ – let that sink in!" loadingEarlier in the day, Musk teased being the top boss of Twitter, after he updated his profile's bio to "Chief Twit". loadingTwitter did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

Last week, smaller rival Snap Inc's (SNAP.N) slowest-ever revenue growth rate sent inflation fears through tech sector and temporarily wiped out $40 billion in market capitalization. Google's advertising revenue was $54.48 billion in the third quarter, compared with $53.13 billion last year but came in below analysts' expectations. "Google’s earnings miss this quarter proves it’s not immune to the challenges facing the digital advertising industry at large," said Jesse Cohen, senior analyst at Investing.com. Alphabet's net income fell to $13.91 billion, or $1.06 per share, from $18.94 billion, or $1.40 per share, a year earlier. Revenue from Google Cloud rose to $6.9 billion during the quarter, from $5 billion a year earlier.

☆ James Gunn, Peter Safran to be co-CEOs of Warner Bros Discovery's DC studios
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

Oct 25 (Reuters) - James Gunn and Peter Safran will be co-heads of Warner Bros Discovery's (WBD.O) DC studios, home to superheroes such as Wonder Woman and Superman, the company said on Tuesday. Both Gunn and Safran have experience with the superhero genre and have brought heroes from the Marvel Cinematic Universe and DC Universe to hit films and series, including "Guardians of the Galaxy", "Aquaman" and "The Suicide Squad", the company said. Reporting by Eva Mathews in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Warner Bros Discovery expects up to $2.5 bln charge on scrapped content
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - Warner Bros Discovery Inc (WBD.O) on Monday put a price tag on its decision to scrap "Batgirl," "The Not-Too-Late Show With Elmo" and other series and films deemed unworthy of the investment: as much as $2.5 billion. AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc completed their merger in April to form Warner Bros Discovery. Register now for FREE unlimited access to Reuters.com RegisterIn a regulatory filing on Monday, Warner Bros Discovery detailed how Zaslav and his leadership team plan to achieve the promised cost cuts, which will be substantially completed by the end of 2024. Warner Bros Discovery said it anticipates $800 million to $1 billion in costs related to layoffs throughout the company, and another $400 million to $700 million by consolidating facilities. The company declined to say how the charges would impact its third-quarter results, due for release on Nov. 3.

☆ Warner Bros Discovery expects up to $1.6 bln charge on scrapped content
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - Media company Warner Bros Discovery (WBD.O) on Monday said it was expecting to book a pre-tax charge of $1.3 billion to $1.6 billion in the third quarter, much of it related to content pulled from the streaming service HBO Max, such as "The Not-Too-Late Show with Elmo." AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc completed their merger in April to form Warner Bros Discovery. The coming third-quarter will reflect the removal of 36 titles from HBO Max that failed to attract large audiences, including originals like the teen drama "Generation" and the animated anthology series "Infinity Train." In total, the company expects to write off as much as $2.5 billion in costs related to canceled projects. Warner Bros Discovery said it anticipates $800 million to $1 billion in costs related to layoffs throughout the media organization, and another $400 to $700 million by consolidating facilities.

☆ Verizon profit drops 23% as pricier plans result in subscriber loss
▼ + stars: | 2022-10-21 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

Oct 21 (Reuters) - Verizon Communications Inc (VZ.N) posted a 23% slide in third-quarter profit and missed market estimates for wireless subscriber additions on Friday, as several customers opted for cheaper plans from rivals AT&T Inc (T.N) and T-Mobile US Inc (TMUS.O). Verizon lost 189,000 monthly bill-paying phone subscribers in its consumer business in the quarter after the U.S. carrier raised prices for its plans in June through additional charges, which was over and above its already pricier plans. Register now for FREE unlimited access to Reuters.com RegisterVerizon added 8,000 net new monthly bill paying wireless phone subscribers in the quarter, well below Factset estimates of 35,400 additions. Telecom players are coming under increasing pressure to keep their plans affordable as rising cost of living crimps discretionary spending by customers. Total revenue, however, rose 4% to $34.2 billion, above expectations of $33.78 billion, according to Refinitiv data.

☆ AT&T raises annual profit forecast on strong wireless additions
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

Oct 20 (Reuters) - U.S. wireless carrier AT&T Inc (T.N) raised its annual profit forecast on Thursday, buoyed by strong demand for its phone and internet services and as more Americans upgraded to 5G plans. AT&T added 708,000 net new monthly bill paying wireless phone subscribers in the third quarter, surpassing Factset estimates of 552,300 additions. Register now for FREE unlimited access to Reuters.com RegisterThe company now expects adjusted profit per share for the full year to be $2.50 or higher compared with earlier expectations of $2.42 to $2.46 per share. In the third quarter, AT&T's total revenue rose 3% to $30 billion, exceeding expectations of $29.86 billion, according to Refinitiv data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eva Mathews and Savyata Mishra in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Instagram to make it easier to avoid trolls
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

Oct 20 (Reuters) - Instagram will enhance features that help users block the accounts of abusers and trolls on the social media platform, the Meta Platforms-owned (META.O) company said on Thursday. Users will now be able to block all existing accounts of a person, expanding a feature launched last year that only allowed the blocking of any new accounts that they may create. "Based on initial test results from this new change, we expect our community will need to block 4 million fewer accounts every week, since these accounts will now be blocked automatically," Instagram said in a blog post. Instagram has also upgraded its feature that helps prevent users from viewing possibly abusive messages, by filtering offensive words to story replies, and said on Thursday it is expanding "nudges" designed to protect creators from harassment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eva Mathews in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Investor Irenic Capital wants News Corp to split media, real estate units - sources
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Activist investor Irenic Capital Management, which has a $150 million stake in News Corp (NWSA.O), wants the company to split its media and online real estate units, sources familiar with the matter said on Monday. Irenic's push comes after media mogul Rupert Murdoch's proposal last week to reunite his media empire by combining News Corp (NWSA.O) and Fox Corp (FOXA.O), nearly a decade after the companies split. Irenic has sought a meeting with panel from News Corp, sources said, adding the investor would be prepared to oppose a deal if it undervalues the company. Register now for FREE unlimited access to Reuters.com RegisterNews Corp did not immediately respond to a request for comment. It is anchored by REA Group, in which News Corp has a 61.4% stake, which is worth about $5.8 billion.

Oct 17 (Reuters) - Netflix Inc's (<NFLX.O>) subscriber growth forecast will be in focus when it reports third-quarter results on Tuesday, with the streaming pioneer set to launch an ad-supported plan to better compete with rivals such as Disney+ and HBO Max. Last week, Netflix said it would launch the plan in November at $6.99 a month, much before its previous estimate of early 2023 and Disney+'s December rollout. read more read moreAnalysts have said the long-resisted move will boost growth at a time when the market for connected TV advertising is booming. Analysts, polled by Refinitiv, expect Netflix to add a little more than 1 million subscribers in the third quarter. Netflix could generate net U.S/Canada ad revenue of $1.7 billion and international net ad revenue of $1 billion in 2025, according to brokerage MoffettNathanson.

Oct 13 (Reuters) - Late-stage U.S. startups are scooping up talent unlocked by layoffs and hiring freezes at Big Tech, adding experienced engineers and project managers to their roster despite signs of an economic slowdown. A survey of 581 executives, almost entirely from U.S. tech startups, showed that more than 40% of them boosted their hiring plans in the first half of 2022, according to hiring firm A.Team and startup consultant MassChallenge. Companies are also shortening hiring times and offering higher pay packages to lock in candidates as they compete for talent in a tight labor market, recruiters said. Still, some analysts warn there is only so long until startups can continue the hiring pace amid a weak economic backdrop. "If the economy does indeed go into recession, it will only add to the pressure faced by tech firms as demand dries up," says Dante DeAntonio, director of economics research at Moody's Analytics.

☆ Thoma Bravo to take software firm ForgeRock private in $2.3 bln deal
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - ForgeRock (FORG.N) said on Tuesday it will be acquired by buyout firm Thoma Bravo in an all-cash deal valued at about $2.3 billion, just over a year after the digital identity management company went public. ForgeRock shareholders will receive $23.25 for each share held, which represents a premium of about 53.4% to the stock's last closing price. Register now for FREE unlimited access to Reuters.com RegisterShares of ForgeRock jumped 50% to $22.76 before the bell. San Francisco-based ForgeRock provides identity and access management solutions for consumers, workforce and internet of things devices. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Insight Partners to acquire stake in software firm Aptean
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - New York-based private equity and venture capital firm Insight Partners will acquire a minority stake in Aptean, the business software firm said on Monday. Existing investor TA Associates has also invested, Aptean said, making the investment firm its largest shareholder. Register now for FREE unlimited access to Reuters.com RegisterVista Equity Partners, previously equal partners in Aptean with TA Associates, will fully exit its stake in the company. Charlesbank Capital Partners, a private investment firm that joined TA Associates and Vista Equity as stakeholder in 2020, will continue to be a shareholder, Aptean said. The investment firm then merged CDC Software with Consona Corp to form Aptean.

☆ Amazon.com unveils device that tracks how you breathe while sleeping
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

Sept 28 (Reuters) - Amazon.com Inc on Wednesday announced a contactless device to monitor customers' sleep as well as a new version of the Kindle which allows users to write on the e-reader. Amazon said the $139.99 sleep device, known as Halo Rise, tracks room temperature, humidity and light, plus the breathing patterns of the person closest to it. The goal is to provide insight to users on why they may or may not feel well-rested when they wake up. Amazon has said privacy is foundational to its work and that the sleep tracker will encrypt health data. Its new e-reader, the Kindle Scribe, is priced at $339.99, the e-commerce company said at its annual devices and services event.

☆ Factbox: U.S. companies brace for Hurricane Ian
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +5 min

Sept 28 (Reuters) - Hurricane Ian is set to make landfall in Florida on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. Since then, it has been working to redeploy offshore personnel after determining Hurricane Ian no longer posed a significant threat to its assets. NextEra Energy Inc's (NEE.N) Florida Power & Light Co, the largest utility in the state, deployed nearly 16,000 workers from 27 states to restore power. A spokesperson said the company was monitoring the hurricane and making adjustments to operations to keep warehouse staff and drivers safe. CRUISE OPERATORSWalt Disney Co's Disney Cruise Line on Tuesday canceled its Disney Wish ship that was to set sail from Florida on Friday.

☆ Lions Gate focusing on spinning off studio business over Starz
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

Actors and staff pose as they arrive for the world premiere of "The Hunger Games: Mockingjay - Part 2" in Berlin, Germany, November 4, 2015. REUTERS/Fabrizio BenschSept 28 (Reuters) - Lions Gate Entertainment Corp (LGFa.N) said on Wednesday it was focusing on spinning off its studio business first, even as it explores alternative options for its cable and streaming division, Starz. The company's film and TV studios have an extensive library, with hits such as "Hunger Games, "The Expendables" and "Mad Men". "As negotiations progress, we have increased our focus on the possibility of spinning our studio business, creating a number of financial and strategic benefits." Lionsgate also announced it would rebrand its international streaming service, Starzplay, to Lionsgate+ in 35 countries.

☆ Factbox: U.S. companies gird themselves as Hurricane Ian makes landfall
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +6 min

Sept 28 (Reuters) - Hurricane Ian makes landfall in Florida with Category 4 fury on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. Since then, it has been working to redeploy offshore personnel after determining Hurricane Ian no longer posed a significant threat to its assets. A spokesperson said the company was monitoring the hurricane and making adjustments to operations to keep warehouse staff and drivers safe. Costco Wholesale Corp closed nine stores located in Florida due to an impact of Hurricane Ian. CRUISE OPERATORSWalt Disney Co's Disney Cruise Line on Tuesday canceled its Disney Wish ship that was to set sail from Florida on Friday.

☆ TikTok inching toward U.S. security deal to avoid sale - NYT
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterTikTok app logo is seen in this illustration taken, August 22, 2022. TikTok and the Biden administration have drafted a preliminary agreement to resolve national security concerns but are still deciding on a potential agreement, the Times reported, citing people familiar with the matter. ByteDance and TikTok did not immediately respond to Reuters' request for comment. Register now for FREE unlimited access to Reuters.com RegisterTikTok has long faced scrutiny from U.S. lawmakers, who have questioned the Chinese-owned app's safeguards of user data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eva Mathews in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Judge Rejects Antitrust Challenge to UnitedHealth Acquisition
▼ + stars: | 2022-08-22 | by ( Anna Wilde Mathews | Brent Kendall | ) www.wsj.com time to read: +1 min

The court’s decision is a win for UnitedHealth, which owns the largest U.S. health insurer and a sprawling healthcare operation that comprises thousands of doctors as well as clinics and valuable data. August 22, 2022, USA: UnitedHealth Group headquarters in Minnetonka, Minnesota. (Credit Image: Â© File/Minneapolis Star Tribune via ZUMA Press Wire)WASHINGTON—A federal judge Monday ruled against a Justice Department antitrust challenge to UnitedHealth Group $13 billion acquisition of health-technology firm Change Healthcare rejecting government claims that the deal would unlawfully suppress competition and limit innovation in health-insurance markets. U.S. District Judge Carl Nichols ruled for the companies in an opinion that he kept under seal for now because he said it “may contain competitively sensitive information.” The judge said he would release a redacted public version of the ruling in the coming days. In a one-page public order, he denied the Justice Department’s request to block the companies from completing the deal.

Heard on the StreetAmazon and other companies are trying to disrupt the giant, inefficient U.S. healthcare sector. They’ve made little headway but a crop of upstarts is offering industry giants a chance to buy their way in.

The Supreme Court’s decision overturning Roe v. Wade creates new challenges for employers and health insurers covering abortion services, especially whether and how to pay for travel to states where the procedure remains available. Companies including Starbucks Corp., Uber Technologies Inc. and Amazon.com Inc. have said they would reimburse travel for medical services including abortion. Just Eat Takeaway.com N.V.’s Grubhub and Dick’s Sporting Goods said they would provide up to $4,000 to cover expenses traveling for services not available in their home state.

☆ What does Musk want with Twitter? Check out his tweets for clues
▼ + stars: | 2022-05-05 | by ( ) www.reuters.com time to read: +1 min

[1/7] Founder and CEO of Tesla Motors Elon Musk speaks during a media tour of the Tesla Gigafactory, which will produce batteries for the electric carmaker, in Sparks, Nevada, U.S. July 26, 2016. REUTERS/James Glover II 1 2 3 4 5May 5 (Reuters) - Elon Musk has secured $7.14 billion in funding from a group of investors that includes Oracle Corp (ORCL.N) co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc (TWTR.N), according to a filing. Here's a chronology of developments, including some tweets from Musk, that shed some light on his views of the company and free speech:loadingloadingloadingloadingloadingloadingloadingloadingloadingloadingCompiled by Akash Sriram, Eva Mathews, Chavi Mehta, Tiyashi Datta and Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta, Amy Caren Daniel and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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