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☆ Suspension bridge collapses in India, hundreds fall in river - officials
▼ + stars: | 2022-10-30 | by ( Sumit Khanna | ) www.reuters.com time to read: +1 min

AHMEDABAD, Oct 30 (Reuters) - Hundreds of people fell into a river when a suspension bridge in India's western Gujarat state collapsed on Sunday and a number of them have been hurt, officials said. More than 400 people were on the bridge in the town of Morbi at the time and were plunged into the Machchu River, local TV channel Zee News said. "People fell in the river and there are casualties. Footage broadcast by the TV channel showed dozens of people clinging onto the cables of the collapsed bridge as emergency teams sought to rescue them. Prime Minister Narendra Modi, who is in his home state Gujarat for a three-day visit, said he has directed the state chief minister to mobilise teams urgently for the rescue operation.

Technology stocks (.SX8P) fell 1.8% to lead sectoral losses in Europe after their U.S. peers were dragged down by weak results from Microsoft Corp (MSFT.O) and Alphabet Inc (GOOGL.O). The European banking index (.SX7P) fell 0.7%. read moreItaly's UniCredit (CRDI.MI) was a rare bright spot as its shares rose 3.9% after the bank raised its 2022 profit goal. "Nonetheless, we are likely to see some hesitation, with the economic implications of rising interest rates yet to be felt. read moreReporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur and Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ Rent taking up close to half of peoples' incomes, says Bilt Rewards CEO Ankur Jain
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRent taking up close to half of peoples' incomes, says Bilt Rewards CEO Ankur JainBilt Rewards CEO Ankur Jain joins CNBC's 'Squawk Box' to break down how his company allows renters to put their monthly rent bills on credit cards as a way to earn points.

☆ Meet the 'stone-cold-brilliant' Apple exec heading up Apple TV+, Sports, gaming and more, who insiders think could succeed Eddy Cue
▼ + stars: | 2022-10-26 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. But inside and outside the tech giant, people are eyeing one cable TV alum who is being positioned for bigger things under Eddy Cue, the company's longtime Services SVP. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.

☆ A former tech exec became an entrepreneur overnight after buying a DTC jewelry brand pulling in $3.5 million yearly. Here's how she found the company and her first steps as a new owner.
▼ + stars: | 2022-10-25 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Suchi Jain Saxena left the tech world to pursue e-commerce entrepreneurship. Jain Saxena told Insider about how she brought her tech background to running a DTC brand. But about five months ago, she decided it was time to leave the tech world and try something new on her own. "I come from a family of entrepreneurs, and I always had this desire to scratch my entrepreneurial itch," Jain Saxena said. Jain Saxena is one of many entrepreneurs who are buying established e-commerce stores, rather than starting their own.

The benchmark S&P 500 (.SPX) is up nearly 6% from its Oct. 12 closing low for the year. The reaction function to the actual earnings will likely be positive," said Art Hogan, chief market strategist at B. Riley Wealth in New York. Of the 99 companies in the S&P 500 that reported third-quarter earnings through Friday, 74.7% had beat analysts' expectations, according to Refinitiv estimates. Shares of 3M (MMM.N) and Coca-Cola (KO.N) and Boeing (BA.N), which are also reporting earnings this week rose between 0.5% and 3%. Among S&P 500 sectors, healthcare (.SPXHC) was up 2.1% and in the lead, followed by industrials (.SPLRCI) and consumer staples (.SPLRCS).

read moreOther megacap shares, including those of Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O), also dropped ahead of their earnings later this week. read moreThe benchmark S&P 500 (.SPX) is up about 5% from its Oct. 12 closing low for the year. The indexes notched their biggest weekly percentage gains in four months on Friday, also supported by better-than-expected earnings reports. The earnings reports from the four biggest U.S. companies by market capitalization could test a nascent rally on Wall Street as stocks claw their way back from the latest lows. The S&P index recorded 20 new 52-week highs and 4 new lows, while the Nasdaq recorded 42 new highs and 204 new lows.

☆ Australia's Ampol expects record annual profit; shares tumble on quarterly miss
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - Australia's Ampol Ltd (ALD.AX) forecast record full-year earnings and posted a threefold jump in quarterly profit on Tuesday, as strong demand for refined products pushed up refining margins at the country's biggest fuel supplier. Its shares, however, sank more than 9%, as its third-quarter net profit missed Jefferies' estimate, amid the company warning of further market volatility. "The market volatility experienced year to date is expected to continue in the period ahead." The company's quarterly net profit on a replacement cost basis, which excludes the impact of inventory and foreign exchange changes, was A$102.5 million ($64.70 million), significantly missing Jefferies' estimate of A$199 million. Refining margin at the Queensland refinery was $15.46 per barrel, significantly higher than $6.76 per barrel a year ago, but below the $32.96 a barrel in the prior quarter.

☆ Premarket stocks: Why investors aren't going green
▼ + stars: | 2022-10-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

ESG funds in September saw their largest outflow of investor cash since the March 2020 recession. These ESG and responsible investing funds saw assets under management peak above $8.5 trillion in late 2021. That’s because ESG ratings agencies tend to rate companies against others within their industry, so oil and gas companies are rated separately from automotive companies. A debate over how to regulate ESG funds is also adding to the noisy picture. But the hurdles facing ESG investing show that doing so is easier said than done.

☆ India's regulator bars Bombay Dyeing and others from securities market
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Oct 22 (Reuters) - India's Bombay Dyeing and Manufacturing Company Ltd (BDYN.NS) has been barred by the country's capital market regulator from the securities markets for two years. The Securities and Exchange Board of India (SEBI) issued a statement late Friday barring Bombay Dyeing and its "promoters" (owners) - Nusli N Wadia and his sons, Ness and Jehangir - from the securities markets for up to two years. Four companies in the Wadia Group are listed on Indian Stock Exchanges, including Bombay Dyeing. The regulator said it had conducted a detailed investigation into the affairs of Bombay Dyeing from 2011-2012 and 2018-2019. The Wadia Group has been contacted for comment.

☆ Diwali will be a holiday for NYC public schools starting next year
▼ + stars: | 2022-10-21 | by ( Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +2 min

New York City public schools will now observe the Diwali holiday, Mayor Eric Adams announced at a news conference Thursday. Diwali, also called the festival of lights, is typically celebrated by Hindus, Jains and Sikhs, and will be commemorated starting the next academic year. “For over two decades, South Asians and Indo-Caribbeans in New York have been fighting for the Diwali school holiday,” she said. “I stand on the shoulders of those advocates.”In making space for the holiday, Adams says he hopes non-South Asian students will start to learn about it too. “When we acknowledge Diwali, we are going to encourage children to learn about what is Diwali,” he said.

Oct 21 (Reuters) - HCA Healthcare Inc (HCA.N) on Friday reported lower-than-expected third-quarter revenue as hospital admissions related to COVID-19 dropped, dragging its shares nearly 5% lower in premarket trade. The decline in COVID-related admissions, which had peaked due to the Delta variant-led wave last year, led to a 1.5% drop in overall same facility admissions, and a 3.5% fall in same facility revenue per equivalent admission. Total revenue fell 2% to $14.97 billion, falling short of analysts' estimates of $15 billion, as per Refinitiv IBES data. Register now for FREE unlimited access to Reuters.com RegisterA similar trend was also seen at rival Tenet Healthcare Corp (THC.N), which also saw a decline in same-hospital admissions and revenue. Excluding one-off items, HCA reported earnings of $3.93 per share, above estimates of $3.88 per share.

☆ How Jason Goldberg went against investors' advice amid the crypto winter and raised $3 million for his Web3 development startup Airstack
▼ + stars: | 2022-10-21 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Cofounder and CEO Jason Goldberg launched Airstack during the depths of the crypto crash. He ignored advice to take the summer off and instead built a prototype, which caught VCs' attention. Jason Goldberg cofounded his Web3 development startup, Airstack, in May, just as crypto markets began to unravel. Airstack's technology essentially creates application programming interfaces, or APIs, for Web3 applications. It improves upon existing infrastructure such as The Graph by allowing developers to access real-time data from several Web3 applications at a time, Goldberg said.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 17, 2022. Other companies that rely heavily on ad revenue including Alphabet Inc (GOOGL.O), Twitter Inc (TWTR.N), Meta Platforms Inc (META.O) and Pinterest Inc (PINS.N) fell between 1.8% and 7.4%. The slide in mega-cap growth stocks also comes against the backdrop of the benchmark 10-year U.S. Treasury yield hitting 15-year highs on expectations of continued aggressive rate hikes by the U.S. Federal Reserve. ET, Dow e-minis were down 100 points, or 0.33%, S&P 500 e-minis were down 17 points, or 0.46%, and Nasdaq 100 e-minis were down 91.75 points, or 0.83%. American Express (AXP.N) said its third-quarter profit had modestly improved, however shares of the company were down 3%.

☆ Meet the under-the-radar Apple executive who heads Apple TV+, gaming, and sports, and drives more than 860 million paid subscriptions
▼ + stars: | 2022-10-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

The former Time Warner Cable exec is driving Apple's subscription businesses including TV+, Sports, and Apple One. As VP, Services, Stern is responsible for running strategy and operations for multiple growth businesses inside Apple. Here's how Stern ascended from cable TV to the top of the tech giant, and what his moves mean for the future of Apple Services. A third former high-placed Time Warner Cable alum also recalled this exchange. He appeared on stage in 2019 as the frontman for the Apple TV app, in a pair of dark-wash jeans and an untucked gray button-down.

☆ Against investors' advice, Jason Goldberg launched a Web3 development startup in the middle of the crypto winter. Here's how he raised $3 million anyway.
▼ + stars: | 2022-10-20 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Cofounder and CEO Jason Goldberg launched Airstack during the depths of the crypto crash. Jason Goldberg cofounded his Web3 development startup, Airstack, in May, just as crypto markets began to unravel. Airtable has raised $3 million in pre-seed funding from investors including Animal Ventures, Warburg Serres, Polygon, Genblock, Fenbushi, Resolute Ventures, WW Ventures, Tensai Capital, WestWave Ventures, Lecca Ventures, and Martin Crowley's Peoples Syndicate. Airstack's technology essentially creates application programming interfaces, or APIs, for Web3 applications. It improves upon existing infrastructure such as The Graph by allowing developers to access real-time data from several Web3 applications at a time, Goldberg said.

☆ India's INOX Leisure loss halves as box office income picks up
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 19 (Reuters) - INOX Leisure Ltd (INOL.NS), India's No.2 multiplex cinema operator, on Wednesday said its second-quarter loss more than halved, as box office and food and beverage revenues inched closer to pre-pandemic levels. This has helped offset some pressure from a lacklustre slate of releases with the likes of "Raksha Bandhan" and "Laal Singh Chaddha" flopping at the box office. Still, net box office revenue of 2.09 billion was far higher than 270 million rupees in the pandemic-hit quarter a year ago, while food & beverage revenue jumped to 1.10 billion rupees from 150 million rupees. Box office revenue was 3.11 billion rupees in the corresponding pre-pandemic quarter, while food and beverage revenue was 1.41 billion rupees. The jump in box office and food sales helped overall revenue from operations surge eight-fold to 3.74 billion rupees and offset a 155.1% jump in total expenses.

☆ Uber salaries revealed: See how much engineers, analysts and hundreds of other employees at the ride sharing company make
▼ + stars: | 2022-10-18 | by ( Diamond Naga Siu | Tom Dotan | ) www.businessinsider.com time to read: +6 min

We analyzed hundreds of H-1B visa applications to get a sense of how much Uber pays employees. The ride-sharing company offered two distinguished engineers nearly $350,000 each as a base salary. As a recession looms, Uber has dramatically slowed down on hiring — even freezing hiring altogether in many departments. But salaries are also a big part of how the company pays its employees. The highest-paid people in the data are two distinguished engineers in California who were each offered $345,000, while the lowest-paid person in the data is a data analyst in Illinois who was offered $56,700.

☆ Pakistan summons U.S. ambassador over Biden's nuclear remarks
▼ + stars: | 2022-10-15 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +1 min

KARACHI, Pakistan Oct 15 (Reuters) - Pakistan's foreign minister said on Saturday he had summoned the U.S. ambassador after President Joe Biden questioned the safety of Pakistan's nuclear programme. In a speech on Thursday, Biden said Pakistan is "maybe one of the most dangerous nations in the world" as it has "nuclear weapons without any cohesion". "As far as the question of the safety and security of Pakistan's nuclear assets are concerned, we meet all – each and every – international standard in accordance with the IAEA," he said at a press conference on Saturday. Register now for FREE unlimited access to Reuters.com RegisterA transcript of Biden's speech was published by the White House on its website. The foreign minister said worries about Pakistan's nuclear programme were not raised on his recent trip to Washington, where he held extensive meetings, including at the State Department.

☆ Europe's STOXX 600 falls for seventh day; U.S. CPI data eyed
▼ + stars: | 2022-10-13 | by ( Devik Jain | ) www.reuters.com time to read: +3 min

SummarySummary Companies U.S. CPI data due at 1230 GMTAroundtown slumps after Citi downgradeOct 13 (Reuters) - Europe's STOXX 600 index fell for a seventh day on Thursday, dragged by technology and real estate stocks, with investors focussed solely on U.S. inflation data due later in the day to gauge the Federal Reserve's rate-hike trajectory. The region-wide (.STOXX) index was down 0.5% by 0810 GMT, and on pace for its longest losing streak since early February 2018, if losses hold. All eyes are on U.S. CPI data due at 1230 GMT. "The effects of inflation and expected economic contractions on shoppers caution are expected to continue to weigh on consumer discretionary stocks, particularly retail, travel and hospitality," Streeter said. Norwegian aluminium producer Norsk Hydro (NHY.OL) jumped 5.6% after reports that the United States was weighing restricting imports of Russian aluminium.

☆ How one pioneering platform is working to detoxify social media
▼ + stars: | 2022-10-13 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

But some platforms are trying to detoxify social media. Twitter; Mastodon; Vicky Leta/Insider1. One pioneering platform is working to detoxify social media. Once championed as heralds of a more interconnected world, social media has instead contributed to loneliness, low self-esteem, and the proliferation of harmful disinformation, Evan Malmgren writes. With 4.4 million users, Mastodon looks like Twitter, but rather than a single website, it's an open-source software platform that allows users to run self-hosted, "federated" social networks.

☆ Uber's chief incrementalist: Sundeep Jain is a divisive leader who shuns flying cars in favor of a steady march toward 'super app' status.
▼ + stars: | 2022-10-12 | by ( Tom Dotan | ) www.businessinsider.com time to read: +12 min

Instead, Jain has overseen the introduction of add-on features to Uber's app, such as rental car bookings and party buses leasing. "Spending a half billion a year on flying cars doesn't make sense for the type of business we are," said one current Uber executive. "I don't think innovative people want to work for a non-innovative product leader," said one former Uber executive. "Under Sundeep's leadership the product team has shipped more products, to more users, than ever before," a spokesperson told Insider. That's two billion dollars," a current Uber product executive said.

☆ Dow, S&P 500 rise after recent losses; investors prepare for inflation, earnings data
▼ + stars: | 2022-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterInvestors were anxiously awaiting the producer price index report Wednesday and consumer price index data on Thursday. "A few investors might be trying to bet on a better-than-expected inflation report," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. The S&P bank index (.SPXBK) was down 1.1% ahead of quarterly results from some major banks later this week. The reports are expected to kick off the third-quarter reporting period for S&P 500 companies. The S&P 500 posted one new 52-week high and 95 new lows; the Nasdaq Composite recorded 19 new highs and 517 new lows.

☆ S&P 500, Nasdaq fall on fears of profit hit from inflation, rate hikes
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

With recent jobs and inflation data suggesting more big interest rate hikes by the Federal Reserve, Wall Street's main indexes have been clocking losses in the past few sessions on fears of the economy slipping into a recession. Register now for FREE unlimited access to Reuters.com Register"The market wants to see data, show me the numbers, show me we're getting inflation down. 1/4 A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 11, 2022. The CBOE Volatility index (.VIX), rose for a fourth straight session, inching closer to near two-weeks high. The S&P index recorded one new 52-week high and 95 new lows, while the Nasdaq recorded 15 new highs and 492 new lows.

☆ Wall St falls on worries of lower third-quarter corporate profit; Amgen jumps
▼ + stars: | 2022-10-11 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

Big U.S. banks are set to report quarterly results on Friday that may offer insight into the health of the U.S. economy. "Right now the market wants to see data, show me the numbers, show me we're getting inflation down. Until then, this market is probably stuck in this whole death by a 1,000 cuts scenario," Dick said. Declining issues outnumbered advancers for a 3.28-to-1 ratio on the NYSE and for a 2.36-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 71 new lows, while the Nasdaq recorded 10 new highs and 250 new lows.

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