DIRS.INFO The most relevant business & tech news

☆ Carrefour Brasil swings to quarterly loss as BIG purchase weighs
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, May 2(Reuters) - Carrefour Brasil (CRFB3.SA) reported a first quarter net loss of 113 million reais ($22.39 million), hit by high investment costs at its acquired food retailer Grupo BIG, the company said in a filing with Brazil's main stock exchange on Tuesday. The company posted a net profit of 370 million reais in the same January-to-March period last year. Carrefour's Brazilian unit said operating expenses soared 52% from a year earlier to total 3.8 billion reais, fueled by store conversion and the integration of BIG. The Carrefour subsidiary bought BIG in mid-2022 and announced last month a discount of up to 1 billion reais in the initial amount paid of 7.5 billion reais. Carrefour Brasil said it has opened three new wholesale format stores and 23 converted stores in the first quarter.

☆ A downed US jet, a bombed embassy, and 25 years of rumors about how China built its first stealth fighter
▼ + stars: | 2023-05-02 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

China continues to expand its fleet of J-20 stealth jets and to operate them farther from home. On March 24, 1999, NATO began airstrikes against Serbian military targets in response to Serbian atrocities in Kosovo. On May 7, 1999, US B-2 stealth bombers hit the Chinese embassy in the Serbian capital of Belgrade, killing three Chinese citizens. ReutersUnder the circumstances, there would seem to be little connection between the destruction of an American warplane and the bombing of the Chinese embassy. The US detected signals from the debris and bombed the embassy but failed to destroy the F-117 wreckage there, the articles claimed.

☆ GC Agenda: May 2023
▼ + stars: | 2023-05-01 | by ( Practical Law The Journal | ) www.reuters.com time to read: +23 min

Clawback Listing StandardsPublic companies should be aware that proposed NYSE and Nasdaq clawback listing standards may be in place earlier than expected. Organizations may use biometric data in a variety of ways, including when:tracking employee time; restricting access to physical and digital assets; monitoring consumer shopping behavior; and integrating biometric data into consumer products and services. Consider whether the organization’s current policies and procedures meet applicable biometric data handling requirements, including notice, consent, retention, storage, and security obligations. Review applicable laws and obligations when contracting with service providers that handle biometric data and continuously monitor their performance. In February 2023, the NYSE and Nasdaq filed proposed new listing standards, which contemplated that they could become effective as early as April 27, 2023.

☆ Brazil agency recommends barring Petrobras from drilling in Amazon's mouth
▼ + stars: | 2023-04-29 | by ( Marta Nogueira | ) www.reuters.com time to read: +2 min

Signed last week by several environmental analysts from Ibama, the report also recommended the agency stop processing environmental licenses for the block. The oil block, FZA-M-59, was auctioned off by oil regulator ANP to Petrobras in 2013. According to Ibama's report, Petrobras' environmental studies still have "inconsistencies" even after a series of reviews. Petrobras and Ibama did not immediately respond to requests for comment. Another document seen by Reuters showed Werneck Sanchez Basseres, Ibama's environmental licensing coordinator for offshore oil and gas exploration, said he agreed with the report's assessment.

☆ Petrobras awaits government OK to drill at mouth of Amazon River
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, April 29 (Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) said on Saturday that it is awaiting the government's stance on its request to drill a well at the mouth of the Amazon River Basin, following a technical recommendation by the country's environmental agency to reject the proposal. "We're technically ready, waiting for the official position on our drilling campaign in the region," he added. But a technical report from Brazil's environmental agency Ibama has advised against the request, citing discrepancies in environmental studies, inadequate measures for communicating with indigenous communities, and insufficiencies in Petrobras' plan to safeguard the region's wildlife. The technical report will serve as the basis for the environmental agency's ultimate determination on whether or not to authorize activities in the area. Reporting by Marta Nogueira, Writing by Marcela Ayres; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Powerful Brazilian lawmaker orders Americanas accounting probe
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 26 (Reuters) - The head of Brazil's lower house authorized on Wednesday the creation of a committee to investigate Americanas (AMER3.SA), the retailer at the center of a nearly $4 billion accounting scandal. Arthur Lira gave the green light to create the so-called CPI committee, which will include 27 federal lawmakers appointed by party leaders, the lower house said in a statement posted on its website. The legislative leader's decision comes months after accounting inconsistencies were revealed that forced the firm into bankruptcy. Last month, Americanas' former CEO Sergio Rial spoke at a Senate hearing about the retailer's financial meltdown. The current CEO, Leonardo Coelho Pereira, and the president of Brazil's banks federation Febraban, Isaac Ferreira, also attended.

☆ A Russian 'inspector' satellite appears to be chasing a secret US military satellite in a game of cat and mouse
▼ + stars: | 2023-04-27 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

A Russian satellite appears to be stalking a classified US military satellite in a cat-and-mouse chase. Dickinson added that the US would continue to track the Russian spacecraft. Then, in 2020, a US Space Force general reported that two mysterious Russian satellites were tailing a US spy satellite. The Russian satellite was set to pass its US military target at a distance of about 31 kilometers on April 7, Janssen calculated. This could have been a maneuver the US conducted to evade the close approach of the Russian satellite, Zak reported.

☆ Deutsche Boerse launches 3.9 bln euro bid for Denmark's SimCorp
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 27 (Reuters) - Deutsche Boerse (DB1Gn.DE) on Thursday launched a 3.9 billion euro ($4.31 billion) takeover offer for Danish software company SimCorp SA (SIM.CO), aiming to boost growth by increasing the range of products and services offered to customers. Shares in Deutsche Boerse were seen down 1.4% in pre-market trade. Deutsche Boerse will make an all-cash voluntary recommended public takeover offer to acquire all SimCorp shares at 735 Danish crowns ($109.04) per share, a statement from the German exchange operator said. "The board of directors of SimCorp has unanimously decided that it intends ... to recommend that the shareholders of SimCorp accept the offer," the Danish company said in a statement. Financial software provider SimCorp, which has more than 2,200 employees, posted operating profit of 126 million euros on revenue of 561 million euros last year.

☆ Brazilian miner Vale's profit slumps well below forecasts
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

The company posted a net profit of $1.8 billion for the first three months of 2023, in a filing to Brazil's main stock exchange on Wednesday, while analysts polled by Refinitiv had forecast a profit of $2.4 billion. Last week, the miner had already reported a slip in iron ore sales volume, blaming it on port loading restrictions and supply chain rebalancing after strong sales in the previous quarters. Revenues, meanwhile, fell 22% to $8.4 billion, also lagging analysts' $9.2 billion forecast. Earnings before interest, taxes, depreciation and amortization came in at $3.6, below analysts' $4.3 billion estimate. Over the quarter, Vale said that prices for its iron ore had averaged $108.6 per tonne, down from the $141.4 per tonne it reported for the same period last year.

☆ The Risks Brands Take When Touching on Social Issues
▼ + stars: | 2023-04-26 | by ( Suzanne Vranica | Patrick Coffee | ) www.wsj.com time to read: 1 min

Some customers criticized Bud Light for its recent partnership with social media star Dylan Mulvaney. Photo: Drew Angerer/Getty ImagesThe outcry over Anheuser-Busch InBev SA’s partnership with a transgender advocate could cause brands to rethink whether and how they address contentious social issues, putting in question an increasingly common strategy for marketers as they try to reach younger consumers. Anheuser-Busch’s trouble began when the world’s largest brewer enlisted social media star Dylan Mulvaney to help generate some publicity for its Bud Light beer brand during the annual March Madness college basketball tournament.

☆ Ukraine's fight to fend off Russia's superior air force hinges on its surface-to-air missiles, expert says, but leaked top secret documents show it may be running out
▼ + stars: | 2023-04-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Russia's air force has an edge over Ukraine's aircraft, requiring Ukraine to rely on other capabilities. Fighting off Russia's air force is dependent on Ukraine's surface-to-air missiles, a new report says. One document in particular that was obtained and reviewed by Insider details Ukraine's air defense capabilities and the risks it faces. Soldiers of the German Armed Forces stand on a trailer with launching pads for guided missiles of the Patriot air defense system on a snow-covered field in southeastern Poland. "Our beautiful Ukrainian sky becomes more secure because Patriot air defense systems have arrived in Ukraine," Ukrainian Defense Minister Oleksii Reznikov said last week.

☆ European shares fall as banking sector jitters eclipse upbeat earnings
▼ + stars: | 2023-04-26 | by ( Shubham Batra | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) fell 0.7%, as regional banking stocks (.SX7E) dropped 1.2%. Earnings from Microsoft Corp (MSFT.O) and Google's parent Alphabet Inc (GOOGL.O) beat expectations, but recessionary worries in the world's largest economy kept investor sentiment fragile. Shares of Swiss banking software company Temenos AG (TEMN.S) jumped 10.2% after it reported first-quarter earnings above consensus. Meanwhile, ASM International NV (ASMI.AS) fell 10.0% after the Dutch semiconductor equipment maker reported a drop in first-quarter orders, citing softening market conditions, despite an estimate-beating revenue. Dassault Systemes SE (DAST.PA) slid 7.4% after the French software maker reported first-quarter numbers broadly in line with estimates but with a miss on software licenses.

☆ Climate-Disclosure Rules Are Coming. Here’s How Companies Are Adapting.
▼ + stars: | 2023-04-25 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

International jurisdictions and the U.S. Securities and Exchange Commission are expected to finalize rules by this summer that will require public companies to report their greenhouse-gas emissions. Direct suppliers are known as tier 1 with that number increasing the deeper you go down the supply chain. Partnerships with suppliers: Large companies are working with small suppliers to overcome hurdles to accessing renewable power supplies, a relatively straightforward way to cut emissions. In October, it said its first group was five companies, including Amy’s Kitchen Inc., Levi Strauss & Co. and J.M. Targets for lower-emission alternatives: Nestlé SA is paying a premium to farmers in its supply chain that cut emissions by following regenerative farming practices.

☆ Spotify CEO Calls AI ‘Cool and Scary’ as It Hits Music Industry
▼ + stars: | 2023-04-25 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Photo illustration: Ryan TrefesSpotify Technology SA reported its strongest first-quarter user growth ever, but a soft ad business led to lower-than-expected revenue. During the quarter ended in March, the company laid off employees and reorganized its top brass, saying it aims to become more efficient this year following an intense period of spending. Spotify also introduced a new video feed for its app in a bid to boost user engagement. It overhauled its landing page to recommend music, podcasts and audiobooks to users via short clips, similar to TikTok and YouTube Shorts.

☆ Japan's largest airline is canceling the $10,000 first and business class tickets it mistakenly sold for $300
▼ + stars: | 2023-04-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

A currency conversion error caused premium seats worth thousands to be sold for as little as $300. Japanese airline All Nippon Airways will not honor the deeply discounted first and business class tickets mistakenly sold in a currency glitch last week, the airline announced Tuesday. On April 19, some travelers discovered ANA, which is Japan's largest carrier, sold premium seats at rock bottom fares, with many lucky travelers snagging $10,000 roundtrip tickets for just $300. While the airline initially told Bloomberg it would honor the price, it has since decided to cancel the bookings. "For the flights which were erroneously processed, ANA will cancel and fully refund all itineraries," the carrier told Bloomberg on Tuesday.

☆ KitKat and Nescafe owner Nestle says it's raised prices by nearly 10% so far this year
▼ + stars: | 2023-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Cheerios, Nescafe, Nesquik, KitKat, Milkybar and Purina products, manufactured by Nestle SA, arranged in London, U.K., on Monday, July 26, 2021. Consumer goods firm Nestle raised prices by 9.8% in the first quarter, attributing this to "significant cost inflation." But sales volumes, listed as "real internal growth," fell 0.5%. The company raised prices by 8.2% last year, and saw sales volumes up by 0.1%. It comes as consumers struggle with sharply higher prices of food, household basics and beyond.

☆ Spotify's monthly active users top 500 million, beat estimate
▼ + stars: | 2023-04-25 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

The number of monthly active users rose to 515 million in the first quarter, beating Spotify's guidance and analysts' forecast of 500 million, according to IBES data from Refinitiv. Premium subscribers, who account for most of its revenue, rose 15% to 210 million, topping estimates of 206 million. The company forecast monthly active users of 530 million. Spotify last year laid out plans to get one billion users by 2030 and reach $100 billion in annual revenue. Spotify's current-quarter revenue forecast of 3.2 billion euros also missed expectations of 3.26 billion euros.

☆ Wolves earn vital points in battle against drop
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

Victory put Wolves nine points clear of the bottom three places, joining Palace on 37 points and ended Hodgson’s run of three wins and a draw since returning to Palace in the wake of Patrick Vieira’s sacking last month. But it was largely a nervy night for the fans as Palace threatened to fight their way back into the game and dominated many of the exchanges. But Lokonga was firmly on his feet when he struck a point-blank shot on target five minutes before halftime, only to see the effort saved by diving Wolves keeper Jose Sa. Neves hit the resultant spot kick into the corner of the net to wrap up the win. Writing by Mark Gleeson in Cape Town; Editing by Clare FallonOur Standards: The Thomson Reuters Trust Principles.

Many DLE technologies use lots of potable water and electricity. SQM (SQMA.SN) and Albemarle Corp (ALB.N), Chile's two existing lithium producers, use evaporation ponds to produce the metal. Livent Corp (LTHM.N) uses a variation of DLE technology in Argentina alongside evaporation ponds. Lake Resources is working with Bill Gates-backed Lilac Solutions Inc to deploy Lilac's DLE technology in Argentina. In Chile, DLE companies see a business opportunity despite the nationalization plans given that Boric's new state lithium company is expected to need technical support.

Anheuser-Busch’s partnership with a transgender activist had prompted a movement on social media to boycott Bud Light. Photo: Daniel Acker/BloombergAnheuser-Busch InBev SA said it had placed on leave two executives who oversaw a Bud Light collaboration with a transgender activist. Alissa Heinerscheid, Bud Light’s vice president of marketing, had come under fire from some customers and media outlets over the company’s decision to send a personalized Bud Light can to transgender activist and influencer Dylan Mulvaney as part of a promotion for the beer brand’s March Madness contest.

☆ Anheuser-Busch Shake-Up After Transgender Influencer Was Featured on Beer Can
▼ + stars: | 2023-04-22 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

Anheuser-Busch’s partnership with a transgender activist had prompted a movement on social media to boycott Bud Light. Photo: Daniel Acker/BloombergThe Anheuser-Busch InBev SA executive who oversaw a partnership between Bud Light and a transgender activist is taking a leave of absence and will be replaced by another company executive, the brewer said. Alissa Heinerscheid, Bud Light’s vice president of marketing, had come under fire from some customers and media outlets over the company’s decision to send a Bud Light can to transgender activist and influencer Dylan Mulvaney with her face on it. The deal prompted a movement on social media earlier this month to boycott Bud Light, and musician Kid Rock posted a video on Twitter in which he shot cases of Bud Light with a rifle.

☆ Anheuser-Busch Executive Takes Leave After Transgender Influencer Was Featured on Beer Can
▼ + stars: | 2023-04-22 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

☆ Brazil's Embraer to build NATO-approved aircraft in Portugal
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

Embraer, which holds 65% of OGMA's capital, makes several types of planes, including a light attack aircraft called "Super Tucano". Embraer also manufacturers the KC-390 military cargo aircraft and it aims for more international deals to sell it. In 2019, the Portuguese government said it would buy five of Embraer's KC-390 military transport aircraft and a flight simulator for 827 million euros. Two sources familiar with the matter said on last week that Austria was looking to advance in talks with Embraer on purchasing four or five KC-390 military cargo aircraft. "President (Lula) wants to encourage the Brazilian defence industry and increase investment in the defence industry," Mucio said.

☆ Brazil's Oi postpones release of 2022 financial statements
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 22 (Reuters) - Brazilian telecom firm Oi SA (OIBR4.SA) said late Friday it decided to postpone the release of its 2022 financial statements to May 22, after an expected presentation of its judicial reorganization plan. Oi, however, release preliminary figures showing that it had consolidated net revenue of 2.62 billion reais ($518.96 million) in the fourth-quarter of last year. Its routine earnings before interest, taxes, depreciation and amortization (EBITDA) for Brazilian operations in the period came in at 320 million reais. The firm's cash position at the end of 2022 was 3.22 billion reais, Oi added. ($1 = 5.0486 reais)Reporting by Peter Frontini Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Gucci Offices Raided by Antitrust Authorities in Europe
▼ + stars: | 2023-04-20 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Raids by the European Commission are part of growing antitrust scrutiny in Europe of one of the continent’s most valuable sectors, fashion. Photo: Alessia Pierdomenico/Bloomberg NewsEuropean antitrust authorities raided the Italian offices of the Gucci fashion house this week, part of a probe the company said was focused on potential anticompetitive behavior in the fashion sector. Gucci owner Kering SA disclosed the search late Wednesday after the European Commission said earlier in the week that it had conducted unannounced inspections at several fashion companies. The commission said it was probing whether the companies had violated rules that “prohibit cartels and restrictive business practices.”

Search resuls for: "să"

25 mentions found