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☆ Bezos makes third losing bet on real estate
▼ + stars: | 2023-11-03 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

It’s not the only questionable real estate decision Bezos has made in the past several years. He announced in a Thursday Instagram post that he will move to Miami, leaving the Washington city where he founded Amazon in 1994. Bezos grew up in the south-Florida city in the early 1980s, and he will return to a two-mansion compound worth some $147 million, according to Bloomberg. Miami-based real estate had a renaissance during the pandemic as people sought warmer climates where they could be outside. Still, the founder is no stranger to real estate bets that don’t always make financial sense.

Persons: Jeff Bezos, It’s, Bezos, Ken Griffin, David Tepper, lockdowns, That’ll, don’t, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Amazon, Bloomberg, U.S . Federal Housing Finance Agency, Reuters Graphics Reuters, Dade, University of Miami, Homes, Climate, U.S . Federal Aviation Administration, Shepard, Thomson Locations: Miami, Seattle, Florida, Washington, Bezos, Indian, Arlington , Virginia, Arlington, Cape Canaveral

☆ Laos Buffalo Dairy: A mid-life crisis with a purpose
▼ + stars: | 2023-11-02 | by ( Katie Lockhart | ) edition.cnn.com time to read: +8 min

Laos Buffalo Dairy, in the UNESCO-listed heritage town of Luang Prabang, is the country’s first dairy and buffalo farm. Laos Buffalo DairyVillagers around Luang Prabang travel up to two hours to bring their pregnant buffalo to the farm. Laos Buffalo DairyTraditionally, buffalo were used for plowing rice fields in Laos. Laos Buffalo DairyWhen the Laos Buffalo Dairy team first introduced their program to area farmers, it took roughly 18 months to convince them that it was a win-win idea. More than buffaloThe Laos Buffalo Dairy has created a free recipe book for locals that offers suggestions on how to incorporate buffalo milk into traditional Laotian dishes.

Persons: Laos CNN — We’ve, Susie Martin, Steven McWhirter, ”, Martin, Rachel O’Shea, milked, Rachel O'Shea, it’s, ’, “, The’ve Organizations: Laos CNN, Laos Buffalo Dairy, UNESCO, Porsche, Laos Buffalo Dairy Villagers, Laos Buffalo, Buffalo Bank, World Bank Locations: Luang Prabang, Laos, Asia, Laos Buffalo, Australian, Singapore, Sri Lanka, Australia, brie, parmesan, cheddar, Prabang, Rosewood, Cambodia

☆ How Microsoft’s AI is making a mess of the news
▼ + stars: | 2023-11-02 | by ( Donie O'Sullivan | Allison Gordon | ) edition.cnn.com time to read: +10 min

But the apparent role of AI in Microsoft’s recent amplification of bogus stories raises questions about the company’s public adoption of the nascent technology and for the journalism industry as a whole. The poll prompted criticism from Microsoft’s readers, “This has to be the most pathetic, disgusting poll I’ve ever seen,” one person wrote. “We had a really tight knit, super talented editorial team and we had all worked together for a long time,” Pfeuffer told CNN. “I don’t think people realize how many people use [MSN],” she told CNN. “It felt like I was standing in line at the grocery store reading a National Enquirer front page,” Kawar told CNN.

Persons: Joe Biden, Britain’s, Lilie James, James ’, Anna Bateson, “, ” Bateson, Brad Smith, Bateson, ”, Brandon Hunter, “ Brandon Hunter, Dean Preston, Elon Musk, Pfeuffer, ” Pfeuffer, Biden, Joe Biden ”, Ferris, ” Kawar, he’s Organizations: CNN, Democratic Party, NBA, Microsoft, Guardian, MSN, Guardian Media Group, San Francisco, Microsoft Edge, Enquirer, Microsoft Microsoft, Google Locations: OpenAI, Sydney, Australia, Santa Monica , California

☆ An ‘Israel Explainer’ Makes Her Country’s Case in America
▼ + stars: | 2023-11-02 | by ( Katherine Rosman | More About Katherine Rosman | ) www.nytimes.com time to read: +5 min

“When a massacre occurs that is more barbaric than the world had seen in generations, people actually say, ‘Well, but Israel kind of deserves that,’” Ms. Tishby said. Ms. Tishby, who said she was fired by the Israeli government after criticizing the Netanyahu administration, says she welcomes the debate. “Israel is fighting the West’s war.”And in an Instagram video post that included footage of the plane that crashed into the World Trade Center, Ms. Tishby spoke to the camera. Ms. Tishby was born in Tel Aviv and raised in a politically active, progressive family. She served in the Israel Defense Forces, in what might be thought of as the Israeli U.S.O.

Persons: ’, Tishby, “, Noa, ”, Simone Zimmerman, Netanyahu, Israel, Benjamin Netanyahu, Sean Hannity, Al, Israel influencer, Ritchie Torres, ‘, Noa Tishby’s, Gideon Raff, Dafna Organizations: Fox, Hamas, World Trade, Israel, Showtime, Israel Defense Forces Locations: Israel, Gaza, Mexico, United States, Iran, America, New York, Tel Aviv, Hebron, Ramat Aviv

The Swiss National Bank and the Swiss Finance Ministry are part of the conversations with lenders, one source said. A representative for the finance ministry said that the issue of bank runs is part of an overall evaluation of the too-big-to-fail regulatory framework in Switzerland. Regulators worldwide have since been grappling with the risk of bank runs, which in the era of digital banking have accelerated in speed. Financial regulators will need to make sure that banks retain adequate financial buffers as advances in technology increase the risk of bank runs, Bank of England executive director for markets, Andrew Hauser, said on Friday at a conference in London. They risk penalizing Swiss banks if they were to be introduced only in Switzerland, one of the sources said.

Persons: SNB, Zürcher, PostFinance, Raiffeisen, Andrew Hauser, Thomas Jordan, Stefania Spezzati, Oliver Hirt, Elisa Martinuzzi, John O'Donnell, Paritosh Bansal, Nick Zieminski Organizations: UBS, Swiss National Bank, Swiss Finance Ministry, Reuters, Swiss, Raiffeisen, Credit Suisse, Regulators, Bank of England, Thomson Locations: ZURICH, Switzerland, Swiss, Zurich, U.S, London, Bern

☆ Roku forecasts quarterly revenue above estimates
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: 1 min

The Roku company logo is displayed on a building in Austin, Texas, U.S., October 25, 2021. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNov 1 (Reuters) - Roku (ROKU.O) forecast fourth-quarter revenue above Wall Street estimates on Wednesday, anticipating higher sales of its streaming devices and ad collections on signs of stability in the global economy. The streaming platform said it expected net revenue of $955 million. Analysts were expecting $952 million, according to LSEG data. Total net revenue grew 20% to $912 million in the quarter ended September 30, comfortably beating analysts' consensus estimate of $855.2 million, according to LSEG.

Persons: Mike Blake, Yuvraj Malik, Krishna Chandra Organizations: REUTERS, Thomson Locations: Austin , Texas, U.S, Bengaluru

☆ India authorises Apple, Dell, Lenovo and others to import laptops, tablets -sources
▼ + stars: | 2023-11-01 | by ( Shivangi Acharya | ) www.reuters.com time to read: +1 min

[1/2] A Dell laptop is seen for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW DELHI, Nov 1 (Reuters) - Apple (AAPL.O), Dell (DELL.N), HP (HPE.N), Samsung (005930.KS) and Lenovo (0992.HK) are among 110 firms authorised by India to import laptops, tablets and personal computers under a new system aimed at monitoring shipments, two government sources said. Acer (2353.TW), Xiaomi (1810.HK), IBM (IBM.N) and ASUS (2357.TW) have also been issued import authorisations, the two sources said, under India's new "import management system" effective from Wednesday. India announced the new system for laptops, tablets and personal computers last month after it rolled back an earlier plan to impose a licensing regime, following criticism from the industry and Washington. The sources declined to be named as details of the authorisations have not yet been made public.

Persons: Andrew Kelly, Shivangi Acharya, Kirsten Donovan Organizations: REUTERS, Dell, HP, Samsung, Lenovo, HK, IBM, ASUS, India, Washington . Companies, Thomson Locations: Manhattan , New York City, U.S, DELHI, India, Washington

☆ SolarEdge forecasts dour Q4 revenue as demand concerns loom; shares plunge
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Miniatures of solar panel and electric pole are seen in front of SolarEdge logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - SolarEdge Technologies (SEDG.O) on Wednesday forecast fourth-quarter revenue below Wall Street estimates on weak demand for its solar inverters, sending the company's shares down 22.3% in extended trade. While in the United States, higher interest rates and a metering reform in California, the country's largest solar market, have dented demand for solar. SolarEdge had trimmed its third-quarter revenue expectations last month due to high inventories and a slowdown in installation which led to substantial cancellations and backlog clearing from its European distributors in the quarter. Peer Enphase (ENPH.O) had also forecast a weak fourth- quarter revenue.

Persons: Dado Ruvic, Zvi Lando, Peer Enphase, Sourasis Bose, Shailesh Organizations: REUTERS, SolarEdge Technologies, Wall, Thomson Locations: Europe, United States, California, Bengaluru

☆ Qorvo forecasts Q3 profit, revenue above estimates on smartphone market recovery
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Wireless connectivity chip maker Qorvo (QRVO.O) forecast third-quarter revenue and adjusted profit above Wall Street estimates on Tuesday, expecting a boost from its largest customer Apple (AAPL.O) ahead of an expected recovery in the smartphone market. The Greensboro, North Carolina-based company's biggest customer is Apple, which contributed 37% to the company's total revenue in fiscal 2023, ended April. Qorvo expects third-quarter adjusted profit of about $1.65 per share. The company sees third-quarter revenue of about $1 billion, plus or minus $25 million, compared with LSEG estimates of $992 million. Qorvo's revenue for the quarter ended Sept. 30 was $1.103 billion, while adjusted profit was $2.39 per share compared with analysts' estimate for revenue of $1 billion and adjusted profit of $1.77 per share.

Persons: Qorvo, Tanya Jain, Krishna Chandra Organizations: Wall, Apple, IDC, Thomson Locations: Greensboro, North Carolina, Bengaluru

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

Chipmakers have been grappling with a smartphone market slump. Last week, Qualcomm rival MediaTek (2454.TW) said it saw sales growth in its smartphone chip business. Qorvo (QRVO.O), another important smartphone chip supplier, on Wednesday projected revenue growth for fiscal 2024, sending its shares up slightly. In Qualcomm's intellectual property licensing business, sales of $1.26 billion were in line with estimates of $1.25 billion according to FactSet data. In its chip business, Qualcomm said fourth-quarter revenue from smartphone handsets was $5.46 billion, beating analysts' expectations of $5.34 billion according to FactSet data.

Persons: Dado Ruvic, Qualcomm, MediaTek, FactSet, Chavi Mehta, Stephen Nellis, Richard Chang Organizations: Qualcomm, REUTERS, Wall, Apple, LSEG, Huawei Technologies, U.S ., Samsung Electronics, IDC, Microsoft, Thomson Locations: San Diego , California, Bengaluru, San Francisco

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

☆ Disney's ESPN could be valued at $24 bln, likely buyers include Apple, Verizon - BofA
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - Walt Disney's ESPN sports network could secure an enterprise value of $24 billion and attract investment interest from sports leagues, tech firms like Apple and telecom majors including Verizon, according to BofA Global Research. Benefits to prospective buyers, however, appear "nebulous", BofA said. "ESPN is still a strong business and a premier brand, but it sits at the nexus of possible major business transformation. Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Walt Disney's, Bob Iger, Jessica Reif Ehrlich, BofA, Chavi Mehta, Anil D'Silva Organizations: REUTERS, Walt Disney's ESPN, Apple, Verizon, BofA Global Research, ESPN, Disney, National Football League, National Basketball Association, Comcast, Thomson Locations: Bengaluru

☆ MercadoLibre's third-quarter profit soars past expectations
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Stelleo Tolda, Chief Operating Officer (COO) of MercadoLibre (Online marketplace company) poses at the entrance of the company's headquarters in Sao Paulo, Brazil, July 10, 2017. The company posted a profit of $359.0 million for the July-September period, while analysts polled by LSEG expected $298.1 million. Total net revenue was around $3.8 billion in the quarter ended in September, up 39.8% year-on-year. Within the e-commerce operation, net revenue rose to $2.1 billion, up 45.2%. In its financial services arm, Mercado Pago, net revenue grew 33.2% to $1.6 billion, as the company increased the pace of lending, while its total volume of payments processed also jumped.

Persons: Stelleo Tolda, Nacho, LSEG, Andre Chaves, Chaves, Mercado, Andre Romani, Peter Frontini, Kylie Madry Organizations: REUTERS, SAO PAULO, Analysts, Mercado Pago, Thomson Locations: Sao Paulo, Brazil, Mexico, Argentina

☆ Amgen sales rise, but shares off as investors await obesity data
▼ + stars: | 2023-10-31 | by ( Deena Beasley | ) www.reuters.com time to read: +3 min

Third quarter sales of Horizon's gout drug Krystexxa rose to $253 million from $192 million. Amgen raised its post-acquisition forecast for full-year sales to between $28 billion and $28.4 billion from a previous estimate of $26.6 billion to $27.4 billion. Total revenue for the quarter rose 4% to $6.9 billion, in line with analyst expectations. Sales of cancer drug Lumakras fell 31% to $52 million and sales of psoriasis drug Otezla fell 10% to $567 million. Sales of Amjevita, Amgen's new biosimilar version of AbbVie's (ABBV.N) blockbuster arthritis drug Humira, rose 30% to $152 million.

Persons: Robert Galbraith, Amgen, Jefferies, Michael Yee, Bill Smead, Tepezza, We're, we've, Peter Griffith, AMG340, William Blair, Matt Phipps, Lumakras, Otezla, Deena Beasley, Leroy Leo, Bill Berkrot Organizations: REUTERS, Horizon Therapeutics, Smead Capital Management, Wall Street, U.S . Federal Trade Commission, Thomson Locations: South San Francisco , California, California, Los Angeles, Bengaluru

☆ Bolivia severs ties with Israel, others recall envoys over Gaza
▼ + stars: | 2023-10-31 | by ( Daniel Ramos | ) www.reuters.com time to read: +3 min

[1/2] Palestinians conduct search and rescue operations at the site of Israeli strikes on a residential building, in the central Gaza Strip October 31, 2023. The three South American nations lambasted Israel's attacks on Gaza and condemned the deaths of Palestinian citizens. "What we have now is the insanity of Israel's prime minister, who wants to wipe out the Gaza Strip," said Brazilian President Luiz Inacio Lula da Silva on Friday. Bolivia cut diplomatic ties with Israel in 2009 under the government of leftist President Evo Morales, also in protest against Israel's actions in Gaza. Gaza health authorities say that 8,525 people, including 3,542 children, have been killed in Israeli attacks since Oct. 7.

Persons: Ahmed Zakot, LA, Freddy Mamani, Israel, Gustavo Petro, Luiz Inacio Lula da Silva, Evo Morales, Jeanine Anez, Arce, U.N, Daniel Ramos, Gabriel Araujo, Lucinda Elliott, Oliver Griffin, Peter Frontini, Brendan O'Boyle, Kylie Madry, Rosalba O'Brien, Stephen Coates Organizations: REUTERS, LA PAZ, Israel, Bolivian, Thomson Locations: Gaza, Bolivia, Israel, Colombia, Chile, Mexico, Brazil, Palestinian, Iran

Six of the 11 major S&P 500 sectors were trading lower, with information technology (.SPLRCT) leading losses. Pfizer's shares (PFE.N) fell 1.5% after the drugmaker reported its first quarterly loss since 2019. U.S. equities are tracking their third straight month in the red, with the S&P 500 (.SPX) and the Nasdaq (.IXIC) on course for their worst October since 2018. The Fed kicks off a two-day monetary policy meeting on Tuesday. The Fed's commentary on Wednesday would be crucial in assessing how long monetary policy could stay restrictive amid recent signs of economic strength.

Persons: Brendan McDermid, Andrew Hunter, Amruta Khandekar, Shashwat Chauhan, Saumyadeb Chakrabarty, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Corp, Dow, Nasdaq, Federal, Nvidia, Microsoft, Caterpillar, Chicago PMI, Capital Economics, Dow Jones, PDD Holdings, VF Corp, Vans, Arista Networks, Sarepta Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Zebra Technologies beats quarterly profit expectations, sees soft demand
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Barcode scanner maker Zebra Technologies Corp (ZBRA.O) beat third-quarter profit and revenue estimates on Tuesday but forecast a bigger-than-expected drop in the fourth-quarter net sales due to slowing tech spending in a tough economy. With inflation and weak consumer spending still weighing on the company's operations, it expects free cash flow to remain negative this year. Zebra Technologies initiated several cost-cutting measures in the second quarter, such as slowing hiring and downsizing its offices, to combat the impact of soft demand across its end-markets. Its third-quarter revenue of $956 million beat expectations of $926.3 million, while adjusted earnings of 87 cents per share came above estimates of 81 cents per share. The company said it now expects annual cost savings to be about $100 million, up from $85 million, from its cost initiatives.

Persons: Bill Burns, Yamini, Saumyadeb Organizations: Zebra Technologies, . Postal Service, Walgreens Boots Alliance, The Lincolnshire ,, Thomson Locations: The Lincolnshire, The Lincolnshire , Illinois, Bengaluru

Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022. Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech (22UAy.DE) had boosted revenue to record levels the last two years. Reuters GraphicsPfizer continues to expect 2023 revenue growth of 6%-8% from non-COVID products, with a majority occurring in the second half. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue of $1.31 billion was down from $4.4 billion a year earlier. Analysts had expected $1.44 billion for the vaccine and $618.20 million from Paxlovid, according to LSEG data.

Persons: Wolfgang Rattay, Evan Seigerman, BioNTech, Albert Bourla, Angela Hwang, Paxlovid, Bhanvi Satija, Michael Erman, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, Pfizer, BMO Capital, Reuters Graphics Pfizer, GSK, CVS, Analysts, U.S ., Thomson Locations: Europe, Paxlovid, Bengaluru, New York

☆ Paycom forecasts weak fourth-quarter revenue; shares tank
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Payroll processor Paycom Software (PAYC.N) on Tuesday forecast fourth-quarter revenue that was below market estimates hit by sluggish demand for payroll solutions and human resource management amid an uncertain economy, sending the company's shares down 28% in extended trading. Sticky inflation and high borrowing costs have clouded Paycom's outlook and hurt demand for the company's human resource and payroll services amid a resilient job market. Paycom forecast current-quarter revenue in the range of $420 million to $425 million, compared with estimates of $452.3 million, according to LSEG data. The company also cut its annual revenue forecast to a range of $1.679 billion to $1.684 billion. It posted revenue of $406.3 million for the third quarter ended Sept. 30, missing analyst estimates of $411.2 million.

Persons: Zaheer Kachwala, Shailesh Organizations: Paycom, Thomson Locations: Bengaluru

☆ UK AI Safety Summit: who will attend and what’s on the agenda?
▼ + stars: | 2023-10-31 | by ( Martin Coulter | ) www.reuters.com time to read: +4 min

LONDON, Oct 31 (Reuters) - Britain will host the world's first global artificial intelligence (AI) safety summit this week to examine the risks of the fast-growing technology and kickstart an international dialogue on regulation of it. The aim of the summit is to start a global conversation on the future regulation of AI. Currently there are no broad-based global regulations focusing on AI safety, although some governments have started drawing up their own rules. A recent Financial Times report said Sunak plans to launch a global advisory board for AI regulation, modeled on the Intergovernmental Panel on Climate Change (IPCC). When Sunak announced the summit in June, some questioned how well-equipped Britain was to lead a global initiative on AI regulation.

Persons: Olaf Scholz, Justin Trudeau –, Kamala Harris, Ursula von der Leyen, Wu Zhaohui, Antonio Guterres, James, Demis Hassabis, Sam Altman, OpenAI, Elon Musk, “, Stuart Russell, Geoffrey Hinton, Alan Turing, Rishi Sunak, Sunak, Joe Biden, –, Martin Coulter, Josephine Mason, Christina Fincher Organizations: Bletchley, WHO, Canadian, European, United Nations, Google, Microsoft, HK, Billionaire, Alan, Alan Turing Institute, Life, European Union, British, EU, UN, Thomson Locations: Britain, England, Beijing, British, Alibaba, United States, China, U.S

As of Monday morning, 118 aid trucks with food, water and medical supplies have entered Gaza through the Rafah crossing. The Israel military says there are fuel supplies in Gaza being held by Hamas which are not being distributed for humanitarian purposes, CNN reported. Gaza cannot produce food or clean water without electricity or fuel. The power plant ran out of fuel two weeks ago, and the country has had to rely on generators for electricity. The 140-square-mile enclave, blockaded by Israel since 2007, relies heavily on imported fuel and electricity to run all its services.

Persons: Israel, Khan Younis, Deir Organizations: CNN, United Nations Relief, Works Agency, UN, Hamas, World, World Health Organization Locations: Gaza, Rafah, Israel, Khan, Gaza’s, Deir al, Qatar

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The Bank of England and the Bank of Japan would also be announcing their verdict on rates later in the week. Of the 245 companies in the S&P 500 that have reported earnings so far, 77.6% have beaten earnings estimates, as per LSEG data. ET, Dow e-minis were up 188 points, or 0.58%, S&P 500 e-minis were up 25 points, or 0.6%, and Nasdaq 100 e-minis were up 101 points, or 0.71%. Reporting by Amruta Khandekar and Shashwat Chauhan in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Susannah Streeter, Hargreaves Lansdown, Eli Lilly, Amruta Khandekar, Shashwat Chauhan, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Hargreaves, U.S . Treasury, Bank of England, Bank of Japan, Apple, Pfizer, Dow e, Thomson Locations: New York City, U.S, Gaza, United States, Bengaluru

☆ Onsemi forecasts weak fourth quarter on slowing demand for electric vehicles
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Semiconductors are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsOct 30 (Reuters) - Chipmaker Onsemi (ON.O) forecast fourth-quarter revenue and profit below market expectations on Monday, in a sign that slowing demand for electric vehicles was beginning to hurt orders for its chips from the automotive industry. The company, whose clients include European automaker Volkswagen (VOWG_p.DE), forecast revenue in the range of $1.95 billion to $2.05 billion, compared to analysts' average estimate of $2.18 billion, according to LSEG data. Onsemi forecast its fourth-quarter adjusted diluted earnings per share in the range of $1.13 to $1.27, below analysts' average estimate of $1.36. Its third-quarter revenue of $2.18 billion inched past expectations of $2.15 billion.

Persons: Florence Lo, Elon Musk, Juby Babu, Arun Koyyur Organizations: REUTERS, Volkswagen, Thomson Locations: Arizona, Bengaluru

☆ Kimberly García: Peruvian racewalker has world record taken away after course was measured incorrectly
▼ + stars: | 2023-10-30 | by ( Samuel Joseph | ) edition.cnn.com time to read: +3 min

CNN —It appeared that Kimberly García of Team Peru had absolutely smashed a world record in the 20km racewalk event at the 2023 Pan American games – until it was revealed that the course had been measured incorrectly. Andy Lyons/Getty ImagesThe corporation acknowledged that it hired Mr. Ithurralde, but only after he was appointed for duty by the APA. The final classification of the results still stands, meaning that García and her fellow competitors are permitted to keep their medals. Ranking points used for qualification for the 2024 Paris Olympics are handed out based on race times and finishing position – which the athletes who participated in Sunday’s race will now not receive. “I have never seen anything like that before,” Canada’s Evan Dunfee, who competed in the men’s race, told Reuters.

Persons: Kimberly García, García, China’s Yang Jiayu, Glenda Morejón, García’s, Evelyn Inga, Marcelo Ithurralde, Andy Lyons, Ithurralde, “, ” Canada’s Evan Dunfee, “ We’ve, “ It’s, that’s, ” Organizations: CNN, Team Peru, Pan, Association of Pan American, “, Association of Pan American Athletics, APA, Getty, Reuters, ” Reuters Locations: Ecuador, Santiago , Chile, Santiago, Parque O’Higgins, Paris

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