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Overall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen. Sam Adams maker Boston Beer, the largest craft beer maker, saw its market share slip last year. Bud Light and Coors Light, popular premium light beers, average about $7.40 for a 12-ounce six-pack, while Boston Beer's Sam Adams costs between $10 to $12. "The American consumer likes light beer," Molson Coors CEO Gavin Hattersley said at a conference in early June. "I think dynamics within the subsegment might change, but the overall consumption of light beer is not going to change materially."

Persons: Beer, Neil Reid, TD Cowen, Vivien Azer, Sam Adams, Boston Beer, Bud Light, Jon Reynolds, Reid, influencer Dylan Mulvaney, Michel Doukeris, Gavin Hattersley, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Busch InBev, Molson Coors Beverage, University of Toledo, Refinitiv, Molson Coors, InBev, Boston Beer Co, Reuters Graphics, Boston, Constellation Brands, Modelo, Reuters, Brewery, Miller, University of Vermont . Giants, AB InBev, Thomson Locations: United States, NielsenIQ, Corona, American, Bengaluru

Companies Harley-Davidson Inc FollowJune 8 (Reuters) - Motorcycle maker Harley-Davidson (HOG.N) has temporarily halted production at its York, Pennsylvania, assembly plant for the second time in just over 12 months due to a parts shortage, the company said. Production at the facility, its largest with nearly 1,000 union employees, will resume on June 13, it noted in an emailed statement. Harley-Davidson did not specify the parts involved. Production was halted in May 2022 due to a brake hose problem from a third-party supplier, the company said later. Reporting by Aishwarya Nair in Bengaluru and Bianca Flowers in Chicago; Editing by Anil D'Silva and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Davidson, Harley, Aishwarya Nair, Bianca Flowers, Anil D'Silva, Richard Chang Organizations: Davidson, Harley, Thomson Locations: York, Pennsylvania, North America, Bengaluru, Chicago

June 7 (Reuters) - Campbell Soup (CPB.N) shares dropped as much as 9% on Wednesday, after the company disappointed investors by maintaining its full-year forecasts for sales and profit despite beating quarterly earnings. The move helped Campbell Soup post a 5% rise in quarterly sales, although its margins slipped to 30% from 31.2%. Campbell expects annual net sales to grow between 8.5% and 10%, compared with analysts' estimates for a rise of 9.5%, according to Refinitiv IBES data. It forecast adjusted profit of $2.95 to $3 per share, versus estimates of $3.01. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Campbell, Kraft Heinz, Arun Sundaram, Sundaram, Mark Clouse, Ananya Mariam Rajesh, Devika Syamnath, Anil D'Silva Organizations: Kellogg, Investors, Thomson Locations: Russia, Ukraine, Bengaluru

☆ Arrival to convert Antara's $20 mln loan into equity (June 6)
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - (This June 6 story has been corrected to say Arrival reduced its headcount by 50% in the first quarter, in paragraph 4)Arrival said on Tuesday it will convert shareholder hedge fund Antara Capital Master Fund LP's $20 million loan into equity, a move that would help the British electric-vehicle startup lower its debt load. Antara has a 1.69% stake in Arrival, according to Refinitiv data. After the exchange, Arrival will still have about $300 million of principal amount in convertible notes that can be converted into equity. EV firms have been experiencing a cash problem over the past few months, as high costs related to production ramp-ups and soaring inflation eat into their reserves. Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Antara, Tiyashi Datta, Anil D'Silva Organizations: EV, Corp, Thomson Locations: Kensington, Bengaluru

☆ Arrival to convert Antara's $20 mln loan into equity
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Arrival said on Tuesday it will convert shareholder hedge fund Antara Capital Master Fund LP's $20 million loan into equity, a move that would help the British electric-vehicle startup lower its debt load. Antara has a 1.69% stake in Arrival, according to Refinitiv data. After the exchange, Arrival will still have about $300 million of principal amount in convertible notes that can be converted into equity. Arrival in April effected a 1-50 reverse stock split to regain compliance with Nasdaq's listing rules and said it will merge with blank-check firm Kensington Capital Acquisition Corp V (KCGI.N) to raise cash. Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Antara, Tiyashi Datta, Anil D'Silva Organizations: EV, Corp, Thomson Locations: Kensington, Bengaluru

☆ Fintech Tingo's shares slump as short-seller Hindenburg takes aim
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Tingo Group (TIO.O) shares halved in value on Tuesday after short-seller Hindenburg Research criticized its founder and alleged that the fintech firm had "fabricated" its financials. Hindenburg also said Tingo was an "exceptionally obvious scam" and called out founder Dozy Mmobuosi's claims of having developed "the first mobile payment app in Nigeria". The New Jersey-based holding company, whose shares shed more than 59% to $1.04, operates in Africa, Southeast Asia and the Middle East. Shares of IEP have erased a fifth of their value after Hindenburg accused the company of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. Conglomerate Adani's market value took a $100 billion hit after the short-seller accused it of improper use of offshore tax havens.

Persons: Hindenburg, Tingo, Dozy Mmobuosi's, Dozy Mmobuosi, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Anil D'Silva Organizations: Tingo, Hindenburg Research, Reuters, Adani Group, Inc, Icahn Enterprises, Thomson Locations: Nigeria, New Jersey, Africa, Southeast Asia, Bengaluru

☆ Apple shares notch all-time high ahead of developer conference
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Apple Inc (AAPL.O) shares hit a record high for the first time in 17 months on Monday, ahead of an annual software developer conference, although the company's market value remained short of an all-time peak of $3 trillion. Apple is expected to launch a mixed-reality headset at its Worldwide Developers Conference (WWDC) later in the day, which would be its first big move into a new product category since the introduction of the Apple Watch nine years ago. Shares of the world's most valuable listed company were last up 1.8% at $184.15. Apple became the only company to hit $3 trillion in market capitalization early last year. Reporting by Medha Singh in Bengaluru; Editing by Shounak Dasgupta and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Morgan Stanley, Erik Woodring, Woodring, Medha Singh, Shounak Dasgupta, Anil D'Silva Organizations: Apple Inc, Apple, Worldwide Developers, Apple Watch, Thomson Locations: Bengaluru

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

☆ YouTube to stop removing content making false claims on past elections
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - Alphabet Inc's (GOOGL.O) YouTube said on Friday that the platform would stop removing content that might have spread false claims related to U.S. presidential elections in 2020 and before. The new set of updates is part of YouTube's elections misinformation policy that will go into effect immediately. "In the current environment, we find that while removing this content does curb some misinformation, it could also have the unintended effect of curtailing political speech," YouTube said in a blog post. The proliferation of disinformation has raised questions about how social media platforms enforce their policies against misleading content about elections. Other social media platforms like Twitter and Meta Platforms Inc's (META.O) Facebook have also seen a spike in disinformation related to elections.

Persons: Yamini Kalia, Anil D'Silva Organizations: YouTube, Facebook, Thomson

☆ Stratasys receives $1.21 bln unsolicited buyout proposal from 3D Systems
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - Stratasys Ltd (SSYS.O) said on Thursday that it had received an unsolicited buyout proposal from rival 3D Systems Corp (DDD.N), valuing the industrial 3D printer at about $1.21 billion. Stratasys shares were up 10.1% at $16.04, while 3D Systems was up 2.6% at $8.55 in premarket trading on Friday. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 of its newly issued stock for each share of the target company, which translates to $17.92 on a per-share basis. Stratasys said its board would "carefully review" the newly received non-binding proposal, adding that the Desktop Metal deal is still expected to close in the fourth quarter of this year. 3D Systems on Friday confirmed its bid for Stratasys and said that if the deal goes through, it will bring $100 million in cost synergies.

Persons: Stratasys, Jaiveer Singh, Shilpi Majumdar, Anil D'Silva, Shounak Organizations: Stratasys, 3D Systems Corp, Systems, Metal Inc, Thomson Locations: Rehovot, Israel, Bengaluru

☆ Broadcom forecasts third-quarter revenue above estimates
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: 1 min

June 1 (Reuters) - Broadcom Inc (AVGO.O) forecast third-quarter revenue above market estimates on Thursday, as it became the latest chip firm to benefit from a demand boost from corporate spending on AI-related technologies. The viral success of ChatGPT has sparked a surge in orders for chips that power data center and underpin AI. The company forecast current-quarter revenue of about $8.85 billion, while analysts polled by Refinitiv are expecting revenue of $8.72 billion. Revenue in the second quarter rose 8% to $8.73 billion, compared with the estimates of $8.71 billion. Reporting by Chavi Mehta and Tiyashi Datta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: ChatGPT, Refinitiv, Chavi Mehta, Tiyashi Datta, Anil D'Silva Organizations: Broadcom Inc, Revenue, Thomson Locations: Bengaluru

☆ Broadcom forecasts third-quarter revenue above estimates on AI boost
▼ + stars: | 2023-06-01 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

June 1 (Reuters) - Broadcom Inc (AVGO.O) forecast third-quarter revenue above market estimates on Thursday, as it benefits from massive corporate investments in AI-related technologies. Broadcom Chief Executive Hock Tan said generative AI could account for more than 25% of the company's semiconductor revenue in 2024. Broadcom supplies chips used in data centers for networking and specialized chips that speed up AI work. It released a new chip for wiring together supercomputers for AI work using networking technology in April. Broadcom forecast current-quarter revenue of about $8.85 billion, while analysts polled by Refinitiv are expecting revenue of $8.72 billion.

Persons: ChatGPT, Hock Tan, Tan, Kinngai Chan, Refinitiv, Chavi Mehta, Tiyashi Datta, Anil D'Silva Organizations: Broadcom Inc, Broadcom, Nvidia, Nvidia Corp, Revenue, Thomson Locations: San Jose , California, Bengaluru

☆ Salesforce forecasts current-quarter revenue above estimates
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

May 31 (Reuters) - Business software maker Salesforce Inc (CRM.N) forecast second-quarter revenue above market estimates on Wednesday, as demand for its cloud-based offerings stays strong in the face of a turbulent economy. The company expects revenue of between $8.51 billion and $8.53 billion for the quarter, compared with analysts' estimates of $8.49 billion, according to Refinitiv IBES data. Revenue was $8.25 billion for the quarter ended April 30, compared with the expectations of $8.18 billion. Shares of the San Francisco, California-based company fell nearly 5% in trading after the bell, after rising as much as 3% in regular trading. Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tiyashi Datta, Anil D'Silva Organizations: Salesforce Inc, Revenue, Thomson Locations: San Francisco , California, Bengaluru

☆ British digital bank Monzo hits monthly profitability for the first time after spike in lending
▼ + stars: | 2023-05-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

In its annual report for the year ending February 2023, Monzo reported net operating income of £214.5 million ($266.1 million), almost doubling year-over-year from £114 million. Losses at the bank nevertheless came in at a substantial £116.3 million — though this was slightly lower than the £119 million net loss Monzo reported in 2022. Still, the company managed to reach profitability in the first two months of the year. Starling Bank reached that milestone for the first time in 2021. Fellow fintech Allica Bank reached monthly profitability last year.

Persons: Monzo, James Davies, Anil, Starling, Monzo's Organizations: CNBC, Starling Bank, Allica Bank

☆ Prudential says CFO leaves after conduct falls short of standards
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] People walk past a Prudential sign outside offices in the City of London March 27, 2013. REUTERS/Luke MacGregorSYDNEY/HONG KONG, May 31 (Reuters) - Prudential Plc (PRU.L) said on Wednesday its chief financial officer, James Turner, would leave the company after a code of conduct investigation into a recent recruitment showed he had fallen short of its standards. "The group sets itself high standards and Mr Turner fell short on this occasion," Prudential said in a statement, without detailing the issue. The incident was identified as part of internal processes, and the recruitment in question was not completed, a company spokesperson said, without stating the nature of the misconduct. Reporting by Scott Murdoch in Sydney and Selena Li in Hong Kong; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Luke MacGregor SYDNEY, James Turner, Turner, Ben Bulmer, Mr Turner, Anil Wadhwani, Bulmer, Scott Murdoch, Selena Li, Clarence Fernandez Organizations: Prudential, REUTERS, Prudential Plc, HK, Thomson Locations: City of London, HONG KONG, Asia, Sydney, Hong Kong

☆ India poised to deny funding for Vedanta-Foxconn chip venture - Bloomberg News
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui//File Photo/File PhotoMay 31 (Reuters) - The Indian government is poised to deny crucial funding for Anil Agarwal's chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire's ambition to build India's 'own Silicon Valley.' The venture's application seeking billions in government assistance hasn't met the criteria set by the government, the report said. Foxconn declined to comment on the report, while India's technology ministry and Vedanta did not immediately respond to Reuters requests for comment. "India's own Silicon Valley is a step closer now," Agarwal had said last year after the announcement.

Persons: Danish Siddiqui, Anil Agarwal's, Taiwan's Foxconn, hasn't, Foxconn, Foxconn –, –, Agarwal, Anusha, Shailesh Organizations: Vedanta, REUTERS, Danish, Bloomberg, Hai Precision Industry Co, Thomson Locations: Mumbai, India, Gujarat, Bengaluru

☆ UK fintech bank Monzo more than doubles revenue but marginally narrows losses to $143 million, results show
▼ + stars: | 2023-05-31 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based fintech bank Monzo more than doubled its revenue last year, results show. The company, founded in 2015, also narrowed losses marginally to £116.3 million ($143.4 million). British fintech bank Monzo more than doubled its revenue last year and marginally narrowed losses to £116.3 million ($143.4 million), according to results published on Wednesday. Monzo, famous for its bright coral pink debit cards, added another 1.6 million customers with the bank now servicing around 7.4 million users. The company's results come after fellow London-based fintech bank Starling, announced a pre-tax profit of £195 million ($241 million).

Persons: Anil, Monzo, Starling, Y Combinator, Tom Blomfield, Combinator Organizations: Catalyst, Abu Dhabi Growth Fund Locations: British, London, Abu Dhabi

☆ Factbox: U.S. states where recreational marijuana is legal
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

May 31 (Reuters) - Minnesota became the latest U.S. state to legalize marijuana for recreational use on Tuesday after its governor, Tim Walz, signed a law allowing the state's residents over the age of 21 to legally possess cannabis for consumption. Apart from the 23 states, adult-use cannabis is also legal in the District of Columbia, Guam and the Northern Mariana Islands. Below is the list of U.S. states that have legalized recreational marijuana:** TD Cowen estimates from April 19Reporting by Sourasis Bose in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Walz, Cowen, Sourasis Bose, Anil D'Silva Organizations: District of, Thomson Locations: Minnesota, District, District of Columbia, Guam, Northern Mariana Islands, Bengaluru

☆ Britain's Monzo narrows annual loss, IPO 'some ways down the road'
▼ + stars: | 2023-05-31 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

Monzo is one of Britain's highest-profile financial technology companies, having attracted 7.4 million customers with its bright coral cards and spend-tracking data since launching in 2015. Monzo reported a net loss of 116.3 million pounds ($146.8 million) for the year, compared to a loss of 119 million the previous year. We'll do the work well before we need to make a decision," Anil said when asked where Monzo could float. "We will make a great public company one day," Anil added. The bank expects to post a full-year profit this financial year, Anil said, after the company said it reached monthly bottom-line profitability in March.

Persons: Monzo, Anil, It's, We'll, Iain Withers, Jason Neely Organizations: London, Financial, Authority, Thomson Locations: British, New York, London

☆ Bill Ackman calls on JPMorgan CEO Dimon to run for US president
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Billionaire hedge fund manager Bill Ackman said Jamie Dimon should run for president in the next U.S. elections after the JPMorgan Chase & Co (JPM.N) CEO expressed his interest in pursuing a public office. loadingAckman called Dimon an "exemplary leader" and lauded him for having "superbly managed" JPMorgan through every crisis. There have been speculations about Dimon's potential presidential run in the future. "If he decides to get out of banking, I think he would be really good in politics," former President Bill Clinton once said of Dimon. In the 2016 presidential election, Ackman had urged former New York City Mayor and billionaire Michael Bloomberg to run for president.

Persons: Bill Ackman, Jamie Dimon, Dimon, Ackman, Donald Trump, Bill Clinton, Michael Bloomberg, Niket, Bayliss, Jaiveer, Anil D'Silva Organizations: Billionaire, JPMorgan Chase &, Bloomberg, JPMorgan, Trump, Pershing, Capital Management, Street, New, New York City, Svea Herbst, Thomson Locations: China, United States, New York, Bengaluru, Svea

☆ Pru CFO exit adds urgent task to new CEO’s agenda
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 31 (Reuters Breakingviews) - Anil Wadhwani's honeymoon period as Prudential’s (PRU.L) boss has ended abruptly. Just as he prepares to mark 100 days in the role, his Chief Financial Officer James Turner has unexpectedly resigned after an investigation into “a recent recruitment situation”. Worse, Turner’s previous assignment was as Prudential’s chief risk and compliance offer, a position he held for more than four years. Following China’s reopening, mainland visitors purchasing insurance products in Hong Kong helped boost its quarterly annual premium equivalent, a measure of new sales, by 35% year-on-year in the three months to March. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Anil Wadhwani's, James Turner, Turner, Katrina Hamlin, Robyn Mak, Streisand Neto Organizations: Reuters, Prudential, Twitter, Toyota, Lufthansa, Thomson Locations: HONG KONG, Hong Kong, London, Saudi, East, Italy

☆ A nearly $4 million AI-powered weapons scanner sold to a New York school system failed to detect knives
▼ + stars: | 2023-05-25 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +4 min

An AI-powered weapons scanner meant to create "weapons-free zones," fails to detect knives. A New York school district bought the nearly $4 million system and then found out it didn't fully work. It spent close to $4 million to buy an AI-powered weapons scanner from Evolv Technology that the company bills as "proven artificial intelligence" able to create a "weapons-free zone." Evolv Technologies claims on its website that its weapons detection system can scan for weapons 10 times faster than traditional metal detectors. Evolv co-founder Anil Chitkara told WRAL, a news station in North Carolina, that the "AI algorithm is trained on thousands and thousands of different items, different weapons, different guns and also, different personal items, phones, keys, and other things."

Persons: —, Brian Nolan, Evolv, Anil Chitkara, WRAL, Chitkara Organizations: New, Service, Evolv Technology, BBC, Teachers, Police, Utica Schools, Evolv Technologies Locations: New York, Utica, North Carolina, Evolv

May 12 (Reuters) - Elon Musk's appointment of a new Twitter chief may free up the billionaire from a major distraction and allow him to focus more on Tesla Inc (TSLA.O), analysts said on Friday. Tesla shares, which have gained 40% this year, reversed course to trade down about 2% as broader markets fell. The stock had its worst year in 2022, losing 65%, amid Musk's on-again, off-again offer for Twitter. Although Twitter has taken much of Musk's time since its takeover, he still actively manages several other businesses such as SpaceX and Neuralink. Musk recently formed an AI company called TruthGPT to take on OpenAI's ChatGPT and Alphabet Inc's (GOOGL.O) Bard.

☆ Factbox: Novo Nordisk's weight-loss drug cuts heart disease risk in study
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. AMGENAmgen's (AMGN.O) experimental obesity drug, AMG133, showed a mean weight loss of 14.5% after 12 weeks of treatment at the highest monthly dose. The company plans to test higher doses of the drug over a longer treatment window in a mid-stage trial. ZEALAND PHARMADenmark's Zealand Pharma (ZELA.CO) and Boehringer Ingelheim's experimental obesity treatment achieved up to 14.9% weight loss in a mid-stage trial on Wednesday. OPKO HEALTH Opko Health (OPK.O) has completed a mid-stage trial of its obesity drug, pegapamodutide, which it expects will have fewer side effects.

Persons: Jim Vondruska, Wegovy, Eli Lilly, ELI LILLY Lilly, Mounjaro, LLY.N, danuglipron, AMGEN, ALTIMMUNE, Mariam Sunny, Pratik Jain, Sriparna Roy, Sriraj Kalluvila, Anil D'Silva Organizations: REUTERS, Novo Nordisk, Pfizer, NOVO NORDISK Novo Nordisk, Novo, PFIZER Pfizer Inc, danuglipron, THERAPEUTICS, Therapeutics, ZEALAND PHARMA Denmark's Zealand Pharma, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

May 12 (Reuters) - Elon Musk has named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO, as the company tries to reverse a plunge in ad revenue. "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!" Last month, NBC parent Comcast said NBCUniversal CEO Jeff Shell was leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation. Musk, the CEO of electric-vehicle maker Tesla Inc (TSLA.O), completed his purchase of Twitter in October for $44 billion. On Thursday, Musk tweeted that he had found a CEO without identifying Yaccarino.

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