DIRS.INFO The most relevant business & tech news

☆ US, South Korea, Japan to launch consultative group on North's cyber threats
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Miniatures of people with computers are seen in front of North Korea flag in this illustration taken July 19, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSEOUL, Nov 6 (Reuters) - The United States, South Korea and Japan have agreed to launch a high-level consultative group on countering North Korean cyber activities that they say finance its unlawful weapons programs, South Korea's presidential office said on Monday. Anne Neuberger, U.S. deputy national security adviser for cyber and emerging technologies, held talks with her South Korean and Japanese counterparts in Washington last week. They agreed to hold quarterly meetings under the new framework, the presidential office said. North Korea has denied allegations of hacking or other cyberattacks.

Persons: Dado Ruvic, Anne Neuberger, Camp David, Soo, hyang Choi, Gerry Doyle Organizations: REUTERS, Rights, South, Camp, United, Thomson Locations: North Korea, Rights SEOUL, United States, South Korea, Japan, Korean, Washington, United Nations, Korea

☆ Air Lease doubts if Boeing, Airbus can meet annual delivery targets
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Air Lease logo is seen displayed in this illustration taken, May 4, 2022. The ongoing jet shortage has benefited lessors such as Air Lease, with the company reporting a third-quarter profit per share of $1.10, beating analysts' estimates of $1.03, according to LSEG data. "On the Airbus side, the situation with engine suppliers in Pratt & Whitney is not enabling Airbus to meet their fourth-quarter targets," Air Lease's Udvar-Hazy said. Air Lease also said it had two of its aircraft on lease to a customer in Israel. "We continue to monitor this region very closely with all of our airline lessees," Air Lease CEO John Plueger said.

Persons: Dado Ruvic, Steven Udvar, Pratt & Whitney, Pratt, RTX, John Plueger, Mehr Bedi, Abhijith, Devika Organizations: REUTERS, Air Lease, Boeing, Airbus, Air, planemaker Boeing, Reuters, Pratt &, Whitney, Lease, Thomson Locations: Israel, Bengaluru

☆ Telecom Italia gives green light to KKR's grid bid, sources say
▼ + stars: | 2023-11-05 | by ( Elvira Pollina | ) www.reuters.com time to read: +3 min

Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. The price tag can reach 22 billion euros when including some future payments were a long-awaited combination of TIM's grid with that of state-backed fibre optic rival Open Fiber materialise, the first two sources said. Italian infrastructure fund F2i is also preparing to take a stake in the grid to bring the holding in Italian hands to 30%-35%. With its 24% TIM stake, Vivendi has warned TIM's board it is ready to bring a legal challenge to the sale after criticising its approval process, documents seen by Reuters showed. ($1 = 0.9321 euros)Reporting by Elvira Pollina; Editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Giorgia, Pietro Labriola's, Merlyn Advisors, Stefano Siragusa, Elvira Pollina, Valentina Za Organizations: Telecom Italia, REUTERS, Vivendi, Sunday, KKR, Reuters, TIM, Treasury, Thomson Locations: MILAN, London

☆ Telecom Italia approves KKR's $20 billion grid bid in blow for Vivendi
▼ + stars: | 2023-11-05 | by ( Elvira Pollina | ) www.reuters.com time to read: +3 min

Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. The board started a review of KKR's offer on Friday, approving it on Sunday, TIM said. The sale's 18.8 billion euro price tag, including debt, could reach 22 billion euros if certain conditions are met, TIM said. TIM said it would not put the board's decision to a shareholder vote, in a setback for leading shareholder VivendI (VIV.PA). Vivendi, which owns 24% of TIM, has been seeking a higher price and questioned the sustainability of the business left behind.

Persons: Dado Ruvic, Giorgia, Pietro Labriola's, Labriola, Merlyn Advisors, Merlyn, Elvira Pollina, Valentina Za, Will Dunham Organizations: Telecom Italia, REUTERS, TIM, Vivendi, Sunday, KKR, European Union, Treasury, VivendI, Thomson Locations: Italy, MILAN, London

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Coinbase Global Inc FollowWASHINGTON, Nov 3 (Reuters) - The U.S. Supreme Court on Friday agreed to hear a dispute over Coinbase's (COIN.O) effort to move a dispute with users of the cryptocurrency exchange out of courts and into private arbitration, which businesses often prefer over litigation. The decision about which contract prevails, in turn, would determine if the dispute proceeds in arbitration or in court. Upon creating their Coinbase accounts, users agreed to resolve any disputes with Coinbase in arbitration. But a subsequent agreement that related specifically to the sweepstakes said disputes over the contest should be heard in court in California. A federal judge in California refused Coinbase's request to force the dispute into arbitration, as the company argued the user agreements required.

Persons: Dado Ruvic, duping, John Kruzel, Will Dunham Organizations: REUTERS, WASHINGTON, U.S, Supreme, Coinbase, Circuit, Thomson Locations: Coinbase, California, dogecoin, San Francisco, Coinbase's

☆ Safilo posts 20% drop in adj. core profit as Europe, North America weighs
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Safilo logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsNov 3 (Reuters) - Italian eyewear group Safilo (SFLG.MI) on Friday reported adjusted core profit at 18.1 million euros in the quarter, down 20% year-on-year, due to declining sales in former GrandVision chains in Europe and by weakness in the North American market. The Padua-based firm said net sales for the July to September period were 235 million euros ($252.20 million), compared to 260.4 million a year earlier. Safilo, which makes eyewear for brands such as Hugo Boss and Tommy Hilfiger, also extended Chief Executive Angelo Trocchia's mandate for additional three years. ($1 = 0.9318 euros)Reporting by Romolo Tosiani; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hugo Boss, Tommy Hilfiger, Angelo Trocchia's, Romolo, David Evans Organizations: REUTERS, Thomson Locations: Europe, Padua

☆ Exclusive: Hedge fund Caxton wins on bond rout to claw back performance losses - sources
▼ + stars: | 2023-11-03 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

They added that the fund had about a negative 2% performance for the year to the end of October. The CGI fund, at the end of June had been down about 8%, added one of the sources. The CGI fund did well from a view that the Bank of Japan would ease its ultra-loose monetary policy, said two of the sources. They also said short bets that bond prices would fall, as well as bets the U.S. Treasury yield curve would steepen were some of the top earners for the fund. Caxton's CGI fund also profited from the difference between Japanese and U.S. stock prices, the sources said, adding that losses on commodities bets in gold and a yen hedge detracted from performance.

Persons: Dado Ruvic, Andrew Law's, Caxton, Jerome Powell, Bruce Kovner, Nell Mackenzie, Carolina Mandl, Svea Herbst Bayliss, Maiya, Dhara Ranasinghe, Kirsten Donovan, David Evans Organizations: REUTERS, Caxton Associates, Caxton Global Investments, Bank of Japan, Treasury, Federal Reserve, Thomson

☆ Fortinet, rivals tumble as dour forecast signals slowing cybersecurity spending
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank 23% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Growth is also slowing in some parts of the company's business as demand normalizes after two years of rapid growth during the pandemic. Overall, five brokerages downgraded the company and at least 14 analysts cut their price targets, pushing the median to $60, LSEG data showed. It currently trades at nearly 33 times its 12-month forward earnings estimates, compared with Palo Alto's 44.6 and CrowdStrike's 54.5.

Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha Organizations: REUTERS, Palo, Thomson Locations: Palo Alto, Bengaluru

[1/2] Dollar, Euro and Pound banknotes are seen in this picture illustration taken April 28, 2017. The euro was last up 0.27% at $1.06515, and thanks to gains earlier in the week was heading for a weekly gain of 0.8%, which would be its most since July. Sterling likewise was up 0.2% on the day at $1.2228, and set for a 0.86% weekly gain, also its most since July. Both the Aussie and the New Zealand dollars are up 1.7% for the week, their best weekly performance since again mid-July. The dollar is heading for a weekly gain of 0.25% on the franc and was last at 0.9041 francs.

Persons: Dado Ruvic, Sterling, Jerome Powell, We've, BOE, Yusuke Miyairi, Detroit's, Kazuo Ueda, Ankur Banerjee, Rae Wee, Gerry Doyle, Kim Coghill, David Evans Organizations: REUTERS, Rights, U.S . Treasury Department, Federal, Fed, Treasury, Nomura, Analysts, United Auto Workers, UAW, Bank of England, Bank of Japan, Reuters, New, Swiss, Thomson Locations: Rights SINGAPORE, LONDON, U.S, New Zealand, Singapore

☆ US House easily passes bill to harden sanctions on Iranian oil
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 3 (Reuters) - The U.S. House of Representatives easily passed a bill on Friday to bolster sanctions on Iranian oil in a strong bipartisan vote. The Stop Harboring Iranian Petroleum (SHIP) bill, which passed 342-69, would impose measures on foreign ports and refineries that process petroleum exported from Iran in violation of U.S. sanctions. While Congress can pass sanctions legislation, such measures often come with national security waivers that allow presidents discretion in applying the law. Despite U.S. sanctions on Iranian oil over its nuclear program, its exports of crude are soaring.

Persons: Dado Ruvic, Mike Lawler, Jared Moskowitz, Joe Biden, Marco Rubio, John Kennedy, Maggie Hassan, Jacky Rosen, Vortexa, Timothy Gardner, Richard Cowan, David Gregorio Our Organizations: REUTERS, Rights, U.S . House, Iranian Petroleum, Republican, Senate, Democratic, Thomson Locations: Iran, Israel, Tehran, China, Russia

[1/3] A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 - ChatGPT maker OpenAI is expected to announce product enhancements that will make its AI models cheaper, with more functionality, in its first-ever developer conference on Monday. Generative AI can, using past data, create brand new content like fully formed text, images and software code. OpenAI is expected to announce updates focused on slashing costs for its developers, as well as new vision capabilities, Reuters previously reported. Cost-cutting addresses a major concern for partners whose spending on OpenAI's powerful models could pile up quickly as they try to build sustainable businesses by developing and selling AI software.

Persons: Dado Ruvic, OpenAI, Sam Altman, Altman, Anna Tong, Krystal Hu, Richard Chang Organizations: REUTERS, Microsoft, Reuters, Thomson Locations: San Francisco, City Hall, Francisco's, Silicon

☆ Paramount narrows streaming loss forecast as investments peak
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 3 (Reuters) - Paramount Global shares (PARA.O) surged 10% on Friday, after the media company narrowed the 2023 loss forecast for its fast-growing streaming business as investments peaked a year ahead of target. "We now expect DTC (direct-to-consumer) losses in 2023 will be lower than in 2022 – meaning streaming investment peaked ahead of plan," Paramount CEO Bob Bakish said. Despite the industry's focus pivoting to profitability, analysts do not see a clear path to that target, with brokerage Needham believing that Paramount could be bought by a larger streaming competitor. "It is bite-size enough to be acquired by a larger streaming competitor for its deep library of film and TV content, as well as its sports rights and news assets."

Persons: Dado Ruvic, HBO Max, Bob Bakish, Needham, Samrhitha, Devika Organizations: REUTERS, Paramount Global, Disney, HBO, Rivals Walt Disney, Warner Bros Discovery, Paramount, NFL, Thomson Locations: Bengaluru

☆ Global assets in spot bitcoin ETFs hit $4.16 billion - CoinGecko
▼ + stars: | 2023-11-03 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total $4.16 billion, according to CoinGecko, a cryptocurrency data and analysis company. Nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021. Canada also is home to the single largest of the 20 ETFs, the Purpose Bitcoin ETF , which has $819.1 million in assets. The SEC has so far denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. There's fierce debate about the potential size of the U.S. spot bitcoin ETF market, with estimates starting at $1 billion or more in first-day demand.

Persons: Dado Ruvic, Suzanne McGee, Mark Potter Organizations: REUTERS, Global, United States Securities, Exchange Commission, SEC, Thomson Locations: bitcoin, Canada, U.S, Jersey, Cayman Islands, Liechtenstein, Brazil, Australia

☆ Paramount summits a precarious streaming peak
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Nov 3 (Reuters Breakingviews) - Paramount Global (PARA.O) says it’s reached the peak of its pain from investing in costly streaming. Crucially, boss Bob Bakish indicated that investment in streaming has topped out ahead of schedule, helping to send shares up 10%. Turning around streaming losses is existential for old-guard media empires navigating the slow dwindling of cable and broadcast. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, it’s, Bob Bakish, Bakish, Walt Disney, Disney’s, Nielsen, Bakish’s, Jennifer Saba, Aston Martin, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Paramount, Yellowstone, Netflix, YouTube, Disney’s Hulu, Macquarie, Pfizer, Thomson

☆ Fortinet, rivals fall on concerns around cybersecurity spending
▼ + stars: | 2023-11-03 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank nearly 18% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. The current losses, if they hold, were set to wipe out nearly $8 billion from the company's market value. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Overall, eight brokerages downgraded the company and at least 18 analysts cut their price targets, pushing the median to $59, LSEG data showed. Fortinet shares have risen nearly 18% this year.

Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha, Sriraj Kalluvila Organizations: REUTERS, Competition, Palo, Thomson Locations: Palo Alto, Fortinet, Bengaluru

☆ Block shares soar as Street lauds strong 2024 forecast, buyback plans
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Block Inc logo is seen displayed in this illustration taken, April 10, 2023. If premarket gains hold, the company could add nearly $5 billion to its market value, based on the stock's last trading price of $51.85, according to Reuters calculations. It took some analysts by surprise as it alluded to an increased focus on keeping expenses under control. The company would create an "absolute cap on the number of people we have...held firm at 12,000 people" until gains in the business outpaced headcount growth, CEO Jack Dorsey said. Block's initial plan to repurchase $1 billion worth of shares also raised investor spirits, as Dorsey said the buybacks would offset some dilution from share-based compensation to employees.

Persons: Dado Ruvic, Block, Jack Dorsey, tsin Huang, Dorsey, Niket, Shinjini Organizations: REUTERS, PayPal Holdings, Thomson Locations: Bengaluru

☆ US dollar drops to six-week low after softer-than-expected jobs data
▼ + stars: | 2023-11-03 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

[1/4] U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The index was on track for its largest one-day fall since July. The numbers for September were revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Against the yen, the dollar slid 0.6% to 149.53 yen , capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. Sterling rose 1.1% versus the dollar to $1.2327, after earlier hitting a six-week high of $1.2350.

Persons: Dado Ruvic, Brad McMillan, Kazuo Ueda, Sterling, Jerome Powell, Gertrude Chavez, Dreyfuss, Chibuike Oguh, Alun John, Ankur Banerjee, Christina Fincher, Andrea Ricci Organizations: REUTERS, Sterling, Federal Reserve, Commonwealth Financial Network, Bank of Japan, Reuters, Treasury, U.S . Treasury Department, Thomson Locations: Waltham , Massachusetts, U.S, New York, London, Singapore

☆ Italy's antitrust probes Intesa's customer shift to mobile service Isybank
▼ + stars: | 2023-11-02 | by ( Giulia Segreti | ) www.reuters.com time to read: +2 min

Intesa Sanpaolo bank logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Intesa Sanpaolo SpA FollowROME, Nov 2 (Reuters) - Italy's antitrust authority said on Thursday it had opened a probe into the transfer of thousands of Intesa Sanpaolo (ISP.MI) customers to the bank's mobile-only service Isybank. After launching Isybank in June, Intesa at the beginning of October started moving about 300,000 customers from its traditional network. The antitrust also said that the shift to Isybank carried with it "important changes" to the terms and conditions of the accounts. Intesa told a presentation in June that it would over time increase the number of services Isybank users can access on their accounts.

Persons: Dado Ruvic, Intesa, Giorgia Meloni, Carlo Messina's, Giulia Segreti, Valentina Za Organizations: REUTERS, Intesa, ROME, Treasury, Thomson Locations: Italy's

☆ CVC IPO efforts may not be third-time lucky
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Nov 2 (Reuters Breakingviews) - CVC Capital Partners’ ambitions to become a publicly traded diversified asset manager are on the back burner. Shares of rival managers have been pummelled as investors fret over the Gaza conflict, a weakening economy and whether buyout groups can continue to flourish in an era of higher interest rates. True, interest rates may fall. But geopolitical tensions are unlikely to die down, given unresolved issues in the Middle East and Ukraine. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, Pamela Barbaglia, Aston Martin, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Partners, Financial Times, Moody’s, Pfizer, Thomson Locations: Amsterdam, Ukraine, Luxembourg, Gaza, East

☆ Unlike Pfizer, Moderna can meet 2023 COVID forecast, analysts say
▼ + stars: | 2023-11-01 | by ( Khushi Mandowara | ) www.reuters.com time to read: +3 min

Syringes with needles are seen in front of a displayed Moderna logo in this illustration taken, November 27, 2021. Around 20 million people need to be vaccinated with Moderna's updated COVID-19 vaccine for the company to reach $2 billion in 2023 sales from the private market, a figure four analysts told Reuters was achievable. The company has said it expects total U.S. COVID vaccine demand to be as much as 100 million doses in the fall season. Moderna forecast $6 billion to $8 billion for sales of its COVID-19 vaccine in 2023, $2 billion to $4 billion of which is expected to come from the commercial market. The COVID vaccine is Cambridge, Massachusetts-based Moderna's lone marketed product.

Persons: Dado Ruvic, Oppenheimer, Hartaj Singh, Michael Yee, Yee, Manas Mishra, Khushi, Patrick Wingrove, Bill Berkrot Organizations: REUTERS, Reuters, U.S, Moderna, Pfizer, Jefferies, GSK, Thomson Locations: Cambridge , Massachusetts, United States, Bengaluru, New

☆ ASOS fashion retailer says turnaround to bring back growth in 2025
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Smartphone with ASOS app, a keyboard and a shopping cart are seen in front of a displayed ASOS logo in this illustration picture taken October 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 1 (Reuters) - British online fashion retailer ASOS (ASOS.L) forecast another year of falling sales in 2024 but said its turnaround plan was starting to take shape and growth would return the following year. Casting 2024 as a transition year, the group said that historic stock problems would continue to drag on sales and profitability during its current financial year, and it forecast sales declines of 5% to 15%. In its 2025 financial year, ASOS said it expected to return to growth with core earnings margin around pre-COVID levels. Calamonte is focused on reducing the amount of stock ASOS carries and refreshing ranges more quickly, while cutting costs and improving its cash position, and he said on Wednesday ASOS would focus on its core fashion offering in 2024.

Persons: Dado Ruvic, José Antonio Ramos Calamonte, ASOS, PwC, Sarah Young, William James, Tomasz Janowski Organizations: REUTERS, Thomson

☆ Orsted Books $4 Billion in Impairments, Walks Away From Two U.S. Offshore Projects
▼ + stars: | 2023-11-01 | by ( Dominic Chopping | ) www.wsj.com time to read: +5 min

However, the company said it has taken the final investment decision on the Revolution Wind project offshore Rhode Island, meaning it will now proceed to construction phase. Orsted isn’t alone in facing the increasing financial challenge of building new sprawling offshore projects. New York regulators last month denied requests from offshore wind developers including BP , Equinor and Orsted to give them a higher price for electricity generated from their projects off the state’s coast. The company still sees full-year Ebitda excluding new partnership agreements and provisions of between DKK20 billion and DKK23 billion. Gross investments for the year are now seen at DKK40 billion to DKK44 billion from DKK44 billion to DKK48 billion previously.

Persons: DADO RUVIC, REUTERS Orsted, Orsted, ”, Mads Nipper, Orsted isn’t, Norway’s, Dominic Organizations: REUTERS, Eversource, BP, New Locations: New Jersey, DKK268, Danish, Rhode, New York

DoorDash had in August projected adjusted EBITDA of between $750 million and $1.05 billion. The company expects fourth-quarter adjusted EBITDA, a key measure of profitability, of between $320 million and $380 million, compared with analysts' estimates of $253.3 million. In the third quarter, total orders rose 24% to 543 million from a year earlier. Revenue rose 27% to $2.16 billion, compared with analysts' expectations of $2.09 billion, according to LSEG data. Net loss narrowed to $73 million, or 19 cents per share, in the third quarter, compared with $295 million, or 77 cents per share, a year earlier.

Persons: Dado Ruvic, Ravi Inukonda, DoorDash, Rachel Wolff, Granth, Anil D'Silva Organizations: REUTERS, ALDI, Reuters, Revenue, Thomson Locations: Japan, U.S, Bengaluru

☆ GSK raises annual forecasts powered by strong Arexvy launch
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Analysts expect the British drugmaker's RSV vaccine Arexvy to power future growth, amid worries about the strength of its pipeline of drugs in development and costly U.S. litigation over discontinued heartburn drug Zantac. Arexvy, launched in the United States recently, is expected to garner full-year sales of between 900 million pounds to 1 billion pounds ($1.22 billion), GSK said. For the third quarter, the shot recorded sales of 709 million pounds, trouncing analysts' expectations of 358 million pounds, according to a company-compiled consensus. Meanwhile, sales are seen to rise by 12% to 13% in 2023 compared with earlier expectations of 8% to 10%. For the reported quarter, sales of Shingrix, the company's top-selling drug to treat shingles, generated 825 million pounds, below market estimates of 868 million pounds.

Persons: Dado Ruvic, Eva Mathews, Subhranshu Sahu, Tomasz Janowski Organizations: GSK, GlaxoSmithKline, REUTERS, Thomson Locations: United States, Bengaluru

☆ LinkedIn hits 1 billion members, adds AI features for job seekers
▼ + stars: | 2023-11-01 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

A keyboard is placed in front of a displayed LinkedIn logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - LinkedIn, the business-focused social network owned by Microsoft (MSFT.O), on Wednesday said it now has more than 1 billion members and is adding more artificial intelligence features for paying users. About 80% of recent members are signing up from outside of the United States, the company has said. LinkedIn has a free tier of membership but also offers subscriptions from $30 per month. The system can also recommend profile changes to make the user more competitive for a job.

Persons: Dado Ruvic, Tomer Cohen, Stephen Nellis, Edwina Gibbs Organizations: REUTERS, LinkedIn, Microsoft, Thomson Locations: United States, San Francisco

Search resuls for: "Ruvic"

25 mentions found