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☆ Block shares surge after earnings beat and increased full-year guidance
▼ + stars: | 2023-11-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The company had previously guided to $1.5 billion in full-year adjusted EBITDA but now expects adjusted EBITDA to come in between $1.66 billion and $1.68 billion. Block is guiding to adjusted full-year operating income of $205 million to $225 million, a sharp increase from prior guidance of $25 million. Analysts surveyed by LSEG had expected full-year revenue guidance to come in at $21.54 billion. The company didn't provide full-year revenue guidance but did guide to $875 million in adjusted operating income for 2024. Cash App revenue soared $3.58 billion 34% year over year, while Square revenue grew 12% to $1.98 billion.

Persons: Jack Dorsey, LSEG, Block, Gross, we've, Dorsey Organizations: Twitter, Mana Convention, Cash Locations: Wynwood, Miami , Florida

☆ Splunk to cut 7% of workforce, or about 500 employees, ahead of Cisco acquisition
▼ + stars: | 2023-11-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Cybersecurity firm Splunk , set to be Cisco's largest-ever acquisition, announced Wednesday it would lay off approximately 7% of its global workforce, months ahead of the deal close. Splunk had nearly 8,000 employees as of January, according to its regulatory filings, meaning that around 500 employees will likely lose their jobs. "Within the next 24 hours, each ELT member will communicate with their organization to summarize any changes to their teams," Steele wrote. Shortly after the announcement, Steele and Cisco CEO Chuck Robbins discussed the deal on a call with analysts. Companies such as Google and Microsoft have cut thousands of employees, while many venture-backed companies have become so-called "zombie startups."

Persons: Splunk, Gary Steele, Steele, Chuck Robbins, Robbins Organizations: Cisco, U.S . Securities, Exchange Commission, SEC, CNBC, Google, Microsoft Locations: Krakow, Poland, U.S

☆ Airbnb beats on revenue but offers weaker-than-expected guidance
▼ + stars: | 2023-11-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Airbnb shares slipped more than 3% in after-hours trading Wednesday after the company reported stronger than expected revenue, buoyed by currency tailwinds, but provided weaker-than-expected guidance for the upcoming fiscal quarter. That may not be comparable to the $2.10 expected by analysts according to LSEG, formerly known as Refinitiv Revenue: $3.40 billion, vs. $3.37 billion expected. Excluding that one-time benefit, the company reported quarterly net income of $1.61 billion compared to $1.21 billion in the year-ago quarter. Revenue grew 18% year-over-year, the company said. The company guided to $2.13 billion to $2.17 billion in fourth-quarter revenue, representing year-over-year growth ranging from 12% to 14%.

Persons: Brian Chesky, Airbnb, LSEG Organizations: Airbnb, CNBC, New York Stock Exchange, Revenue Locations: U.S

☆ SEC alleges SolarWinds and key executive misled investors about cybersecurity prior to 'massive' cyberattack
▼ + stars: | 2023-10-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +6 min

"We allege that, for years, SolarWinds and Brown ignored repeated red flags about SolarWinds' cyber risks, which were well known throughout the company," SEC enforcement director Gurbir Grewal said in a press release. SolarWinds went public in 2018, and made only "generic" disclosures about cybersecurity risk in both its prospectus and in continued filings, the complaint said. However, the SEC alleged that SolarWinds and Brown knew that the company's cybersecurity practices were weak, pointing to an internal presentation from Brown that was made the same month SolarWinds went public. It appears to be one of the first times the SEC has alleged a company misled and defrauded investors over cybersecurity risks. In reality, Brown knew that the company was not following those best practices, the SEC alleged.

Persons: SolarWinds, Tim Brown, Brown, Gurbir Grewal, weren't, Solarwinds, Kevin Thompson, Sudhakar Ramakrishna, Mr, Alec Koch Organizations: SolarWinds Corp, New York Stock Exchange, Securities and Exchange Commission, SEC, software, Orion, unf, Regulators, MGM Resorts, CNBC Locations: New York, U.S, Russian, Clorox, SolarWinds

Apple announced new PC chips, MacBook Pro laptops, and a new iMac model at an unusual night-time launch event on Monday. The new computers, including MacBook Pro and iMac models, go on sale next week, and have the same designs as last year's models only with new chips. Apple's iMac hadn't been refreshed since April 2021, and its MacBook Pro models got a chip upgrade back in January. Apple executives at the launch event on Monday emphasized that the machines are significantly faster and more efficient than Intel -based Macs, which started being phased out in 2020. Apple also cut the price of its entry-level 14-inch MacBook Pro, from at least $1999 to $1599, although it gets a less powerful M3 chip, instead of the "Pro"-level chip on last year's model.

Persons: Apple Organizations: Apple, MacBook, Intel

Apple on Wednesday raised the prices for a number of its flagship services offerings, including Apple TV+, Arcade and its bundled offering, Apple One. Apple TV+ will now cost $9.99 a month, up from $6.99. The price increase comes after Apple upped the price in 2022 from $4.99. Apple One, the bundle package used by many families to access Apple's services at a lower price will also increase, with the top-end Premier package now costing $37.95 a month. "The subscription prices for Apple TV+, Apple Arcade, Apple News+, and Apple One will increase in the US and select international markets beginning today," an Apple spokesperson told CNBC.

Persons: Apple, Kif Leswing Organizations: Apple, CNBC, Disney, Netflix, Apple Arcade

☆ Sam Bankman-Fried to testify in FTX fraud trial, attorney says
▼ + stars: | 2023-10-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

FTX founder Sam Bankman-Fried will take the stand to testify in his own defense, his attorney said in a conference call Wednesday. The decision by his legal team sets him up for a cross-examination by federal prosecutors, who will be able to press him on the collapse of his crypto exchange FTX. Bankman-Fried's decision to testify came after federal prosecutors and his defense team were able to secure the alleged fraudster an adequate supply of his ADHD medication. The defense will also call three other witnesses besides Bankman-Fried to the stand, defense attorney Mark Cohen said on the call. Bankman-Fried stands accused of fraud and money laundering of his role in the collapse of the multi-billion dollar crypto exchange FTX.

Persons: Sam Bankman, Mark Cohen, Nishad Singh, Caroline Ellison, Fried, Dawn Giel Organizations: Prosecutors, Federal Bureau of, Alameda Research

☆ Microsoft shares rise as Wall Street heralds ‘strong execution,’ wider AI rollout
▼ + stars: | 2023-10-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The company also beat revenue consensus among analysts surveyed by LSEG, formerly known as Refinitiv. Microsoft reported revenue of $56.52 billion for the quarter, compared to a consensus estimate of $54.50 billion. Zelnick raised his price target from $380 to $395, adding that "operating discipline" and "a full-stack approach to delivering AI solutions" was just as, if not more impressive, than Microsoft's revenue beat. Azure revenue alone, which Microsoft doesn't disclose in dollars, grew 29% during the quarter. Comments from Microsoft executives helped boost analyst sentiment as well, with Chief Financial Officer Amy Hood saying on a Tuesday call with analysts, "We feel good about our execution, we feel good about taking share and we feel good about consistent trends."

Persons: Brad Zelnick, Zelnick, Raimo Lenschow, Microsoft's, Lenschow, Amy Hood, Jordan Novet, Michael Bloom Organizations: Microsoft, LSEG, Deutsche Bank, Software, Barclays, CNBC

☆ Coinbase shares rise 7% as Grayscale ETF ruling takes effect
▼ + stars: | 2023-10-24 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. He also said the cryptocurrency exchange is looking to invest more outside of the U.S.Shares of cryptocurrency exchange Coinbase rose about 7% Tuesday afternoon as optimism about a long-awaited bitcoin spot ETF approval buoyed the stock. It could be a turning point for the company, which has been sparring with the Securities and Exchange Commission in Manhattan federal court. Grayscale saw a victory formalized in federal appeals court Monday, when a judge's mandate that the SEC review the company's Bitcoin ETF proposal took effect. The company is one of the largest crypto custodians and has been tapped by a host of prospective ETFs, including BlackRock's proposed Bitcoin ETF, in that capacity.

Persons: Brian Armstrong, BlackRock's Organizations: U.S . Securities, Exchange Commission, U.S, Securities and Exchange Commission, SEC Locations: Manhattan

☆ Okta cybersecurity breach wipes out more than $2 billion in market cap
▼ + stars: | 2023-10-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Okta has shed more than $2 billion from its market valuation since the company disclosed a hack of its support systems Friday. Okta is a lesser-known name but forms a critical part of cybersecurity systems at major corporations. Zoom , for example, uses Okta to give "seamless" access through a single login to the company's Google Workspace, ServiceNow , VMware and Workday platforms. At least one of those clients said it had alerted Okta about a potential breach weeks earlier. In a separate post Friday, privately held identity management firm BeyondTrust said it had told Okta's security teams about suspicious activity in BeyondTrust's own Okta systems on Oct. 2.

Persons: Okta, BeyondTrust, Okta didn't Organizations: VMware Locations: Las Vegas

☆ Okta shares fall 11% after company says client files were accessed by hackers via its support system
▼ + stars: | 2023-10-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Shares of cybersecurity firm Okta closed down 11.5% after the company said an unidentified hacking group had accessed files that "certain Okta customers" had uploaded to Okta's support system. Okta said the hackers were able to access the system using a stolen credential. Some of the largest companies in the world use Okta to streamline their login and identity management systems, including FedEx and Zoom , according to the company. The breach disclosed Friday does not impact client systems, just a support platform Okta uses to help its clients diagnose issues. "We have notified impacted customers and taken measures to protect all our customers," the company said.

Persons: Okta Organizations: FedEx

☆ Man sentenced to prison for tweeting to suppress votes for Trump
▼ + stars: | 2023-10-19 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

A Trump-supporting social media influencer was sentenced to seven months in prison for conspiring to suppress the votes of possibly thousands of people who supported former Secretary of State Hillary Clinton in the 2016 presidential election. Douglass Mackey, who was 33 when he was convicted in March, was also ordered to pay a $15,000 fine. Mackey made podcast appearances and social media posts about those beliefs, prosecutors said. Prosecutors said that 99% of the texts received by that number were sent after Mackey first posted a deceptive Hillary advertisement from one of his social media accounts. Andrew Frisch, Mackey's attorney, told CNBC he remained "optimistic" about Mackey's prospects on appeal, which has not yet been taken up.

Persons: influencer, Hillary Clinton, Douglass Mackey, Mackey, Ricky Vaughn, Hillary, Andrew Frisch Organizations: States, Court, Eastern, of, Trump, Prosecutors, CNBC Locations: of New York, Brooklyn, United States

☆ New York sues crypto firms for alleged $1 billion fraud, cites SBF hedge fund bet
▼ + stars: | 2023-10-19 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Crypto firms Digital Currency Group and Gemini defrauded more than 230,000 investors out of a collective $1.1 billion, New York state prosecutors said in a lawsuit filed in Manhattan Thursday. They cited a series of missteps, including failure to adequately manage the risk associated with exposure to Sam Bankman-Fried's bankrupt and allegedly fraudulent crypto trading firm. For a time, it was very lucrative, until crypto hedge fund Three Arrows Capital defaulted on its loans and sent much of the crypto world into tumult. Gemini would then give Genesis that customer crypto for further lending, collecting a slice of Genesis' interest. By extension, prosecutors say, that meant that Gemini also had exposure to Alameda — and allegedly knew they did.

Persons: Crypto, Sam Bankman, Genesis, Barry Silbert's, DCG, 3AC, Cameron, Tyler Winklevoss, Gemini Organizations: Digital Currency Group, Gemini, Genesis Global Capital, Arrows Capital, New, Genesis's, Alameda Research, Alameda — Locations: New York, Manhattan, Alameda

☆ X, formerly Twitter, tests charging new users $1 to tweet, retweet
▼ + stars: | 2023-10-18 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

X, formerly Twitter, will begin a test that charges new users $1 annually in order to "post & interact with other posts," the company said in a recent post. The social media platform said Tuesday evening the move is part of its efforts to combat spam and bot activity. Elon Musk previously said the company planned to move to a subscription fee model in September. Excess bot activity has been a consistent rallying cry for Musk since before he acquired the company in October 2022. Bot activity has reportedly worsened under Musk's ownership.

Persons: Elon Musk, Porte, X, Musk Organizations: SpaceX, Tesla, Viva Technology, Porte de, Twitter, CNBC Locations: Paris, New Zealand, Philippines

☆ Federal regulators open probe into Cruise after pedestrian injury reports
▼ + stars: | 2023-10-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Federal regulators have opened a preliminary investigation into whether Cruise autonomous cars exercised "appropriate caution" in and around pedestrians, the National Highway Traffic Safety Administration wrote in a filing. The NHTSA probe was prompted by two reports involving pedestrian injuries and Cruise vehicles in recent months. One incident on Oct. 2 involved a situation where a pedestrian was thrown by another vehicle into the path of a driverless Cruise vehicle. Proponents have argued that driverless vehicles are safer than human-driven ones. Other companies, including some based in China, are also testing driverless vehicles on San Francisco streets.

Persons: Cruise, Hannah Lindow Organizations: NBC, Area Investigative Unit, Traffic, Administration, NHTSA, General Motors, San, CNBC Locations: San Francisco, Francisco, China

☆ Hackers hit aid groups responding to Israel and Gaza crisis
▼ + stars: | 2023-10-13 | by ( Zeba Siddiqui | ) www.reuters.com time to read: +2 min

A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. Jerusalem-based nonprofit United Hatzalah, which provides emergency medical services, said its website was struck by distributed denial of service (DDoS) attacks that temporarily slowed its ability to receive donations. DDoS is a low-level and typically unsophisticated attack designed to overwhelm a website with artificial traffic, often causing it to crash. The disruptions to the United Hatzalah website did not lead to loss of data or donations, said Jeremy Cole, a spokesperson for the group. Another website impersonating United Hatzalah that had sprung up in the last few days seeking donations had been taken down, Cole said.

Persons: Kacper, Rohan Talbot, Jeremy Cole, United Hatzalah, Cole, Gil Messing, Messing, Zeba Siddiqui, Bill Berkrot Organizations: REUTERS, FRANCISCO, Medical Aid, Security, Hamas, Thomson Locations: Israel, Gaza, Jerusalem, British, San Francisco

☆ X, formerly Twitter, amplifies disinformation amid the Israel-Hamas conflict
▼ + stars: | 2023-10-09 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +5 min

From the outset of this weekend's Israel-Hamas conflict, graphic footage of abductions and military operations have spread like wildfire on social media platforms, including X, formerly known as Twitter. Under Musk, X has prioritized user-driven content tagging with Community Notes, the preexisting feature formerly known as Birdwatch. While the terrorist organization is banned from most social media platforms, including X, it continues to share videos on Telegram. Paid verification purportedly boosts a user's posts and comments on X, and some posts tagged as misleading have come from those verified users. Correction: This article has been updated to correctly reflect Alex Goldenberg's comment on English-language disinformation on X and Twitter.

Persons: Elon Musk, Musk, Alex Goldenberg, Goldenberg, NCRI, Elon, there's, Paul Bernal, Chris Clarkson, Clarkson, Israel —, we've, " Goldenberg, Alex Goldenberg's Organizations: NBC News, Hamas, U.S, Network, Research, CNBC, Twitter, University of East, BBC, Heywood Locations: Gaza, Sderot, Israel, Covid, University of East Anglia, England, British, Middleton, Ukraine

☆ Kazakh fintech Freedom Holding is being investigated by DOJ, SEC, documents show
▼ + stars: | 2023-10-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The SEC's Boston regional office has been probing Freedom for months, according to documents seen by CNBC and people familiar with the matter. The U.S. Attorney's Office for Massachusetts is also making preliminary inquiries into Freedom, documents seen by CNBC show. Nearly 115,000 Freedom shares changed hands in the first half hour of trading, 1.25 times the stock's 10-day average. Turlov and Freedom are aware of the SEC probe, which has been going on for months, a person familiar with the matter told CNBC. An SEC spokesperson told CNBC that it doesn't comment on the existence or nonexistence of an investigation.

Persons: that's, Timur Turlov, Turlov, Hindenburg, Citron Organizations: Nasdaq, Securities, Exchange, CNBC, Boston, Attorney's, Massachusetts, SEC, DOJ, Justice, Hindenburg, Citron Research, Las, Trump, Financial, Financial Industry, Authority, Freedom Locations: Almaty, Kazakhstan, Russian, U.S, Kazakh, Central Asia, Eastern Europe, New York, Las Vegas, New

☆ Tesla factory permits almost ready in Mexico, as state launches infrastructure work
▼ + stars: | 2023-10-05 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Becerril/File Photo Acquire Licensing RightsMEXICO CITY, Oct 5 (Reuters) - Final permits for Tesla to build an electric-vehicle (EV) factory in the northern Mexican state of Nuevo Leon could be ready in weeks and the local government is beginning infrastructure work requested by the company, a senior official said on Thursday. Tesla (TSLA.O) in March announced plans to open a major plant in Nuevo Leon, its first in Mexico, which has also attracted EV investments from other automakers seeking to meet ambitious production targets. "We are very appreciative of their efforts to enable the permits and sustainable infrastructure necessary," he said. The so-called "Gigafactory" is set to bring in an estimated $15 billion over the next two years through Tesla and its suppliers, Nuevo Leon Governor Samuel Garcia said last month. The state has called for more investment in health, education, roads and basic services to accommodate the expected growth.

Persons: Tesla, Daniel Becerril, Ivan Rivas, Elon Musk, I'm, " Rivas, Rivas, Nuevo Leon, Rohan Patel, Tesla's, Samuel Garcia, Daina Beth Solomon, Kylie Madry, Rod Nickel Organizations: REUTERS, MEXICO CITY, Tesla, Nuevo Leon's, Reforma, Nuevo, Twitter, Reuters, Nuevo Leon, Thomson Locations: Monterrey, Saltillo, Santa Catarina, Mexico, MEXICO, Mexican, Nuevo Leon, Nuevo

☆ San Francisco woman trapped under autonomous Cruise vehicle after being struck in hit and run
▼ + stars: | 2023-10-03 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

A San Francisco woman was seriously injured after a hit-and-run driver struck her Monday evening, hurling her underneath the autonomous Cruise vehicle. Police responded around 9:30 p.m. to a hit-and-run incident at the intersection of Fifth and Market Streets, San Francisco police told CNBC. The force of the impact hurled the pedestrian in front of a Cruise vehicle, which applied the brakes "aggressively" and remained in place at the request of police, a Cruise spokesperson and San Francisco police said. The Cruise vehicle did not have a passenger in it. CNBC reviewed footage from the incident, which shows both the Cruise vehicle and the hit-and-run car driving along Fifth Street.

Persons: haven't Organizations: NBC, Area Investigative Unit, Police, San Francisco, CNBC, San, NBC Bay Area, Fifth Locations: San Francisco, San

☆ The $8 billion Sam Bankman-Fried criminal trial starts today — here's what's at stake and how we got here
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

In the first trial, Bankman-Fried faces seven criminal counts related to the collapse of the crypto empire he built, including wire fraud, securities fraud and money laundering. Alameda, FTX and a host of subsidiaries Bankman-Fried founded filed for bankruptcy protection in Delaware. FTX's own terms of use specifically forbade him, or Alameda, from using customer money for anything — unless the customer allowed it. And from FTX's inception, there was a lot of customer money. Bankman-Fried and other executives admitted to each other that "FTX customer funds were irrevocably lost because Alameda had appropriated them."

Persons: Sam Bankman, Fried, Caroline Ellison, Gary Wang, Ellison, FTX, Wang, Judge Lewis Kaplan, Samuel Bankman, MacKenzie Sigalos, San Francisco —, SBF, Wang —, Nishad Singh —, Goldman Sachs, Binance, Damian Williams, Rehypothecation, —, Crypto, Solana, Zhao, he'd, Cromwell, John J, Ray, John Ray's, — CNBC's Rohan Goswami Organizations: Alameda Research, Southern, of, Stanford, MIT, U.S, New York Times, Bankman, That's, CNBC, Jane, Capital, University of California, Formula, Democratic, Twitter, Securities Exchange Commission, SEC, Futures Trading, United States Attorney's Office, CFTC, Alameda, Alameda didn't, Voyager, BlockFi, FTX, Industry, Investors, Zhao, Publicly, Sullivan, Enron Locations: Bahamas, Manhattan, New York, Alameda, of New York, FTX, Brooklyn , New York, San Francisco, South Korea, Alameda , California, Fried's Alameda, Berkeley, Miami, Washington, Delaware, California, Federal, Solana, Fried

☆ Bill Ackman says he hasn't talked to Elon Musk about X investment for Pershing 'SPARC'
▼ + stars: | 2023-10-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Bill Ackman on Monday told CNBC he had not spoken with Elon Musk about a deal involving X, formerly known as Twitter, but that he likes the business and Musk and suggested a deal with X would be welcome if Musk wanted it. The billionaire CEO of Pershing Square Holdings was discussing his new carve-out vehicle, which he called a SPARC, or special purpose acquisition rights company. The product is similar to a SPAC, but Ackman said that Pershing's structure would only invest in companies it views as long-term investments. Ackman made waves in a Sunday interview with the Wall Street Journal, where he said he would "absolutely" invest in X through his new SPARC structure. If part of X were to debut on the market, it would likely be at a valuation far below the $44 billion that Musk paid for it.

Persons: Bill Ackman, Elon Musk, Musk, he's, Ackman, CNBC's Andrew Ross Sorkin, SPACs, Linda Yaccarino's, maven Organizations: Monday, CNBC, Elon, Pershing Square Holdings, SPARC, Financial Times, Wall Street, Meta Locations: —

"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.

Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, —, Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations

☆ UK regulator clears $1.52 billion UnitedHealth-EMIS deal
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: 1 min

Sept 29 (Reuters) - Britain's competition regulator said on Friday it has cleared UnitedHealth Group's (UNH.N) 1.24 billion-pound ($1.52 billion) acquisition of healthcare technology firm EMIS (EMISG.L). The Competition and Markets Authority (CMA) confirmed it found no competition concerns in the deal between specialist healthcare tech and software companies, which provide services to Britain's National Health Service (NHS). Optum UK, part of U.S.-based UnitedHealth, unveiled an offer to acquire EMIS in June last year, to position the combined entity to provide better services to the NHS. ($1 = 0.8173 pounds)Reporting by Richard Rohan Francis in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Richard Rohan Francis, Eileen Soreng Organizations: Markets Authority, CMA, National Health Service, Optum, Thomson Locations: U.S, Bengaluru

☆ Flexport fires CFO, HR chief departs weeks after sudden ouster of Dave Clark as CEO
▼ + stars: | 2023-09-27 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Three weeks after Flexport founder Ryan Petersen fired Dave Clark as CEO and returned to run his supply chain software startup, the company has ousted its chief financial officer, and its human resources chief has resigned, CNBC has learned. Flexport informed CFO Kenny Wagers last week that he was being let go, according to people familiar with the situation. Clark and Petersen worked as co-CEOs of Flexport starting last September, and Clark took over as the company's sole CEO in March. Stuart Leung will become Flexport's Chief Financial Officer and report to Ryan Petersen, CEO, effective immediately. WATCH: Flexport CEO Petersen on company's plan to reinvest profits

Persons: Ryan Peterson, Ryan Petersen, Dave Clark, Flexport, Kenny, Stuart Leung, Leung, Petersen's . Petersen, Clark, Jeff Bezos, Petersen, Peter Thiel's, Jennifer Boden, Boden, Darcie Henry, Michael Brown, Stuart, Jennifer, " Petersen, Henry, Teresa Carlson, Tim Collins, Kelly Cheeseman, Andreessen Horowitz, SoftBank, it's, excoriated Clark, — CNBC's Rohan Goswami Organizations: Flexport Inc, CNBC, Amazon, Fund, Restructuring, Founders Fund Locations: San Francisco , California, U.S, Flexport, Shopify, Andreessen

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